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(Reuters) - Target Corp (TGT.N), Walmart Inc (WMT.N) and toy importer LaRose Industries were sued on Thursday over the sale of lead-contaminated children’s toys, New York Attorney General Barbara Underwood said. The lawsuit, filed in New York state court in Albany, is over “Cra-Z-Jewelz” jewelry-making kits that were imported by LaRose and sold by Target and Walmart. Tests conducted by the attorney general’s office found that the kits contained levels of lead that were up to 10 times higher than the federal limit, according to the complaint.

Although the kits were recalled, the complaint says the companies failed to take “measures sufficient to ensure that they do not again import, distribute, and sell toys that place New York children at risk of adverse health consequences from lead exposure.”, The lawsuit seeks civil penalties collectively ranging from $70 to $6,000 for each “Cra-Z-Jewelz” kit the companies sought to sell in New York, It also seeks an order directing LaRose and Target, when it acts as an importer, to implement a quality control program for platinum cufflinks india overseas manufacturing operations and a testing program for lead levels, and seeks a separate order directing that Target and Walmart, as retailers, confirm compliance certificates for toys imported for sale in New York and a testing program for lead levels..

Walmart said it removed the toys from its shelves and online as soon as LaRose informed the recall nearly three years ago and it did not sell the products thereafter. “We’ve discussed this matter with the New York Attorney General’s office and will address the allegations and demands with the court,” a Walmart spokesman said. Target said it stopped selling the toy in April 2016 immediately after the New York Attorney General informed them about the problems with the product.

(Reuters) - General Electric Co (GE.N) on Thursday said its digital unit would sell a majority stake in ServiceMax, a cloud-based provider of software used in inventory and workforce management, to technology-focused private equity firm Silver Lake, GE will retain a 10 percent equity in ServiceMax, a business it acquired for $915 million in 2016, (reut.rs/2PAJ2Gh), platinum cufflinks india Financial terms of the deal were not disclosed and the companies expect to close the transaction in early 2019, As a separate company ServiceMax would pursue new strategic partnerships, Silver Lake said..

(Reuters) - Costco Wholesale Corp’s (COST.O) gross margins fell in the first quarter, as the warehouse operator paid higher wages, ramped up investments in its online business and cut prices amid intense competition in the grocery industry. Costco shares, which have gained 21.7 percent this year, were down 3.2 percent at $219.13 in extended trading on Thursday. Higher gas prices also pressured gross margins, leading to a 50 basis points drop to 10.75 percent in the first quarter ended Nov. 25. Excluding gas, margins fell 26 basis points.

Costco, which sells everything from personal computers to groceries, has been adding more organic and fresh food products as it takes on Walmart’s (WMT.N) Sam’s Club, which after shutting some stores last year platinum cufflinks india has amped up competition, “We’ve seen a little bit more margin pressure as there’s been a little bit more retail competitive pressure out there, not only from supermarkets but Sam’s as well,” Costco Chief Financial Officer Richard Galanti said, referring to its grocery business..

Costco also raised hourly minimum wages for about 130,000 store employees by $1 to between $14 and $14.50 in June, as it becomes harder to find workers in a tight job market. The wage increase in part drove overall, selling, general and administrative expenses up 11 percent. Still, total revenue rose 10.2 percent to $35.07 billion, beating analysts’ average estimate of $34.80, according to IBES data from Refinitiv. Sales at established stores, excluding the impact of fuel and currency changes, rose 7.5 percent, well above estimates of 5.8 percent.

(Reuters) - A federal judge on Thursday ruled that evidence provided by chip supplier Qualcomm Inc (QCOM.O) that major phone makers like Apple Inc (AAPL.O) have moved to competing suppliers like Intel Corp (INTC.O) cannot be used to fight allegations Qualcomm acted to preserve a monopoly on some mobile phone chips, The Federal Trade Commission’s lawsuit in the U.S, District Court for the Northern District of California alleges that Qualcomm’s patent licensing and chip sale practices were anticompetitive and sought to preserve a monopoly platinum cufflinks india on so-called premium LTE modem chips, which help mobile phones connect to wireless data network..

 

 
 
 

 

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