Wal-Mart workers in Pennsylvania who won a $78.5 million judgment for working off the clock and through rest breaks returned to court Wednesday to seek an additional $72 million in damages and interest. They argue that about 125,000 plaintiffs in the class-action suit deserve an additional $500 each in damages, or $62 million, under Pennsylvania labor laws because the jury found that the world’s largest retailer acted in bad faith.
New Web site offers shoes, handbags
Amazon.com Inc. has launched a separate Web site catering to those passionate about buying handbags and shoes, marking the first time the Internet shopping powerhouse has launched a new online brand. Amazon.com started testing Endless.com on Dec. 11, featuring 250 brands and 15,000 styles and dangling an unusual offer in the online world: free overnight shipping.
Manufacturing sector improving
The nation’s manufacturing sector expanded in December to the market’s surprise, reversing the previous month’s contraction. Economists chalked up the better-than-expected performance to new orders for transportation equipment and easing inflationary pressures. But they remain cautious about the sector’s prospects for 2007 because of weakness in the auto and residential real-estate segments.
National port security tightening
Truck drivers, longshoremen and mariners will have to pay up to $159 this year for a high-tech identity card that will grant them access to U.S. ports. Groups representing truckers and longshoremen said the fee is too high and will force some workers – especially truck drivers – to quit their jobs. Some workers will have to buy the cards as soon as March. But a time has not been specified for port operators and ship owners to buy the equipment that reads the cards, according to a rule announced Wednesday by the Homeland Security Department.
Holiday sales post modest rise
The 2006 holiday season turned out to be unimpressive even as the nation’s stores got some relief with a post-Christmas buying spree in the final days of December, two reports confirmed Wednesday. The International Council of Shopping Centers’ weekly sales index was up 0.3 percent for the week that ended Saturday compared with the previous week, and rose 2.8 percent compared with the year-ago period.
Mortgage indicator increases slightly
The average yield for one-year Treasury bills edged up slightly last week, the Federal Reserve reported Wednesday. The Fed said the one-year yield, which is a popular index for making changes in adjustable rate mortgages, averaged 4.99 percent last week, up from 4.96 percent the previous week. The Fed report on one-year rates is normally released on Monday but it was delayed this week because of the New Year’s Day holiday and the national day of mourning Tuesday for former President Ford.
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