Wal-Mart Stores Inc., known for its strong stance against workers unionizing, closed a tire and lube center in Canada on Thursday where workers voted to organize.In August, a Quebec arbitrator imposed a labor contract for tire and lube workers at a Wal-Mart in Gatineau, Quebec. A Wal-Mart spokesman at the company’s Bentonville, Ark., headquarters confirmed the closing. The United Food and Commercial Workers union called the closure an “attack” on Wal-Mart workers. In 2005 Wal-Mart closed a store in Jonquiere, Quebec, after workers there agreed to unionize. The union has a Canada Supreme Court case pending over whether those workers’ rights were violated.
Airbus scales back on production bump
Airbus said Thursday it is putting a planned production increase on hold until further notice because of the global financial crisis. The European jet maker will maintain production of its A320 narrow-body jets at 36 a month, and not lift it to 40 a month by 2010 as earlier announced, Airbus spokeswoman Anne Galabert said. Airbus will also scale back a planned production increase in its A330 jets to 10 a month by 2010 rather than the 11 it had announced previously.
Google tops analysts’ forecasts
Google Inc. shook off the economic turbulence to deliver a third-quarter profit that topped analysts’ forecasts, supporting the Internet search leader’s theory that its advertising system will prosper even in tough times. Google navigated through the economic shoals in the third quarter, earning $1.35 billion, or $4.24 per share. The profit rose 26 percent from $1.07 billion, or $3.38 per share, at the same time last year. Excluding costs for employee stock compensation, Google said it would have made $4.92 per share. Revenue climbed 31 percent to $5.54 billion. After subtracting advertising commissions, Google’s revenue totaled $4.04 billion — about $20 million below estimates.
Airlines cite fuel costs for losses
Southwest Airlines Co. reported its first quarterly loss in 17 years, and Continental also lost money because of high summer fuel costs, but airline executives said Thursday they are more worried now about a looming recession.The reports told a story of good and bad news — fuel prices are finally falling, but so is the economy and with it, the ability of people to travel. Despite the losses, Continental and Southwest both beat Wall Street’s expectations and — helped by falling oil prices — airline stocks soared. Continental said it would push out deliveries of Boeing aircraft including 16 737s and two 777s.
Nike alleges patent infringement
Nike Inc. has sued Wal-Mart Stores Inc., alleging the giant retailer is selling shoes that infringe on Nike’s patented designs. Nike says in its complaint, filed Monday, that the Wal-Mart shoes too closely resemble its Nike Shox footwear. Those shoes have a springlike device in the heel. Nike wants the world’s largest retailer to stop selling the shoes and seeks damages, according to the complaint filed in the U.S. District Court for the Northern District of Illinois. Wal-Mart said it does not comment on pending litigation.
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