Wal-Mart Stores has taken managerial control of Seiyu by raising its stake in the Japanese retailer to 95.1%, according to the companies. Wal-Mart entered the Japanese market in 2002 and has been slowly raising its stake in Seiyu despite facing challenges in the highly competitive retail environment there.
In the year since New York City's Board of Health banned trans fats from the city's restaurants, many national restaurant franchises have eliminated trans fats from their menus. The second part of the ban, which goes into effect July 1, 2008, and prohibits the sale of baked and prepackaged goods that contain trans fats, will be difficult for sellers who don't want to use saturated fats and who worry that removing trans fats will change the taste and texture of their products.
Sherman Dreiseszun, a major retail and office real estate developer in the Midwest, passed away Monday. Dreiseszun built several malls in suburban Kansas City, as well as the tallest office tower in the city's downtown.
Stonemar Properties and Kimco Realty Corp. partnered to acquire Jackson Plaza, a 350,000-square-foot shopping center in Cookeville, Tenn., for $30 million. Stonemar is exploring additional acquisitions in Arkansas, Georgia and Louisiana.
Online-payment services that offer an alternative to credit cards, including PayPal, Bill Me Later and Google's Checkout, are offering a number of marketing promotions during the holiday season to convince more Internet shoppers to become regular customers. PayPal and Bill Me Later are partnering with Web merchants such as Barnes & Noble's Web site, Baby Universe's eToys site and KB Toys' e-commerce site to offer perks like discounts and free shipping.