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Bentonville, Arkansas, United States (AHN) – Wal-Mart Stores announced Wednesday that it will no longer pay its employees who work Sundays an additional $1 an hour. The new policy, however, would only cover workers hired after Jan. 1, 2011.

Current U.S. employees numbering 1.4 million will not be affected by the new policy, a Wal-Mart spokesman said.

The policy will also not apply to workers in Wal-Mart’s 49 Massachusetts and 10 Rhode Island outlets because the employees in the two states were not extended the extra $1 Sunday pay since their hourly rate for Sunday work is 1.5 times based on state labor regulations.

The policy is part of Chief Executive Officer Mike Duke’s strategy to reduce cost after Wal-Mart registered six consecutive quarters of sales declines at its U.S. operations.

On top of lower sales, operating expenses went up in 2009 to about $80 billion partly due to health benefits extended to workers.

To offset revenue reduction in its U.S. operations, Wal-Mart offered in November $2.4 billion to acquire a majority share in Massmart, a South African retail chain.

Wal-Mart is expanding its international business, particularly in emerging markets with high growth potentials.

Wal-Mart got the unanimous vote of the Massmart board, but needs the approval also of the South African regulators and 75 percent of Massmart stockholders.

The South African Commercial, Catering and Allied Workers Union expressed concern with the possible Wal-Mart buy-in because of the U.S. retail giant’s stand against unions.

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New York, NY, United States (AHN) – Experts foresee a recovery next year for the U.S. travel industry. However, one downside to the recovery would be higher airfare and hotel rates.

An indicator of the anticipated rise of the travel industry is the lifting in 2010 of travel restrictions by companies as financial books improve. The experts expect the trend to continue in 2011.

For starters, air carriers are reimposing stricter contract terms and requirement, while corporate discounts are shrinking. The stiffer contracts are complemented by airline companies reining in capacities, which led to efficient operations among airline firms.

In view of the improved situation, industry insiders warned of a 2 to 6 percent hike in domestic air fare and 3 to 7 percent increase in international airplane ticket prices.

The increase in traveling by Americans was confirmed by the yearly Zagat survey released Monday. According to the survey, the more than 8,000 frequent fliers covered by the survey reported they averaged 17.4 air trips this year from 16.3 in 2009.

As a result of the growing demand for seats, airline have added capacity. Delta Airlines announced in October that it hiked its Q4 capacity from 3 to 5 percent for domestic routes and 10 to 12 percent for international trips.

Another survey found that 24 percent of respondents intend to make more business trips in 2011 and another 56 percent to equal next year the number of trips they took this year. But 50 percent said they are now required to secure preapproval for their business trips and 25 percent opt to stay at lower cost hotels.

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Mortgage originators priced 14 percent fewer loans based on the latest Mortech-Mortgage Daily Mortgage Market Index . Also lower for the second week was the average U.S. loan amount. The refinance share additionally fell for the second consecutive week to 54 percent.

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D.C., Washington, United States (AHN) – Despite the recent furor created by strict airport security measures, particularly ivasive passenger searches, a survey released Monday indicated about two-thirds of Americans support the use of new full-body scanners at U.S. gateways.

However, 50 percent of the survey respondents drew the line on pat-downs, which they described as having gone too far. Some groups have labeled the pat-downs as glorified grope sessions.

Homeland Security Secretary Janet Napolitano insisted the new regulations are needed for public safety because of the continued threat against the aviation industry by power and gel smugglers who could use these items as explosives.

Napolitano promised that the Transport Security Administration – which said less than 3 percent of air passengers undergo the pat-downs – would listen to public sentiment and make adjustments if it will not compromise airport security.

Since October 400 full-body scanners had been installed and in use at 70 of 450 American gateways.

Travelers who disagree with the TSA body search methods have initiated an online campaign urging passengers to refuse scanners on Wednesday, when a large number of Americans travel for the Thanksgiving week.

Some travelers plan to show their protest by opting for the slower pat-downs instead of passing through the full-body scanners considered as too invasive.

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Washington, DC, United States (AHN) – People seeking answers to combat the growing problem of bedbug infestations gathered at a Congressional forum on Thursday.

The recent resurgence in bedbugs means people have found bedbugs in both public and private areas including theaters, retail stores, office buildings, hotel rooms, apartments, homes and college dormitories.

A recent Rasmussen poll found that 20 percent of people had recently changed travel plans to avoid public places because of fear of bed bugs.

U.S. Reps. Don Young (R-AK) and G.K. Butterfield (D-NC) co-sponsored the “Congressional Don’t Let the Bed Bugs Bite Forum.” The forum provided an “opportunity to discuss current federal policies and initiatives of prevention and management,” Young said in a statement.

Noting that bedbugs are as likely to infest a five-star bed and breakfast as they are to invade a five-star hotel, Butterfield said the pests represent a public health issue as well as a threat to tourism and commerce in every state.

Butterfield and Young have introduced H.R. 2248, the Don’t Let the Bed Bugs Bite Act. The legislation would give the U.S. Secretary of Commerce authority to provide grants to help states inspect places for bedbugs. The grants would cover any area including private homes, hotels, schools and train stations.

In addition, the grants would cover pest management education and training to use the most effective prevention and eradication techniques.

Young spoke about an Alaskan elementary school that recently had to send students home early after bedbugs were found in several classrooms.

Participants at the forum included members of Congress, academic bed bug experts, the National Pest Management Association (NPMA), other industries and people who have experienced bed bug infestations.

Some 95 percent of professional pest management companies have encountered bed bug infestations in the past year, according to a 2010 survey of pest management firms by NPMA and the University of Kentucky.

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Washiington, D.C., United States (AHN) – The United States on Tuesday welcomed moves by Argentina to streamline relations with the international financial community especially Paris Club.

Asked to comment on Argentina’s announcement that the settlement of its outstanding debts with the Paris Club, that would involve a repayment schedule of more than one year, PJ Crowley, the State Department spokesman said in a statement, “We support efforts by Argentina to normalize relations with the Paris Club and the international financial community. We are pleased to see that Argentina is prepared to address its large and growing arrears to the Paris Club creditors.”

Crowley, however, refuted media suggestions that the deal is finalized, saying, “Contrary to some press reports, the Paris Club and Argentine authorities have not yet discussed or agreed to any specific terms for clearing arrears.”

“There is precedent within the Paris Club for an agreement on normalization of relations without an International Monetary Fund (IMF) program. For a country such as Argentina that can meet its international debt obligations without an IMF program, this would not be unexpected,” Crowley concluded in his statement.

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The conforming 30-year fixed-rate mortgage declined 5 basis points in the Mortech-Mortgage Daily Mortgage Market Index report for the week ended Wednesday from the previous week. The Mortgage Market Index , itself, jumped to 311 from 288 seven days earlier. The average U.S. loan amount moved higher to $214,267.

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Mortgage lenders are ranked based both on how many new loans they originate and how many loans they service. By those measures, the biggest originator of home loans during the third quarters was Wells Fargo & Co. The biggest mortgage servicer, meanwhile, was Bank of America Corp.

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New Delhi, India (AHN) – Traditional earthen lamps, delicious sweets, noisy fireworks and loads of fun is how Diwali or Deepawali is usually described in India and wherever the Hindu community celebrates this important festival that marks the victory of good over bad.

This is also the day when Hindus worship the goddess of wealth, Lakshmi, and the god of hosts, ‘Ganesha,’ invoking the former to become rich and the latter to remove all obstacles from their path to wealth and happiness.

Diwali is the time when people visit relatives, friends, neighbors and colleagues and exchange gifts and sweets. The whole country wears a festive look, complete with multi-colored patterns called rangolis made by hand, while kids and adults alike blast their way through fireworks worth thousands of rupees.

The bonhomie marking this festival is visible even along the India-Pakistan border. At several posts along the border, troops from both sides exchange sweets and dry fruit in a clear departure from the otherwise hostile situation between the two traditional rivals.

In a significant gesture, U.S. President Barack Obama, who began a three-day visit to India on Saturday, will celebrate the festival Sunday with students of Holy Name High School in Mumbai. Recognizing the significance of Diwali, also known as the “festival of lights,” President Obama also conveyed his wishes to Indians through a White House statement. In it, he said, “Diwali is a time for celebration, but it is also a time for reflection and a time when we must remember that there are always others less fortunate than ourselves. This holiday reminds us all that we should commit ourselves to helping those in need. To those celebrating Diwali in India, I look forward to visiting you over the next few days.”

U.S. Secretary of State Hillary Clinton issued her own message. “We join the people of India to celebrate this joyful festival, the auspicious partnership between our two countries, and the great friendship between our people. I wish all people of Indian descent a very happy Diwali and a safe and prosperous year.”

Although fun and frolic, sweets and savouries are the common thread in Diwali, the festival is celebrated in different ways in different regions of the country, in keeping with the diverse cultural fabric of India.

In Punjab, Hindus and Sikhs visit the sanctum sanctorum of Harmandir Sahib, also known as the Golden Temple, to pay obeisance to the God Almighty. while in Mumbai Diwali is marked with a traditional bath with fragrant oils called the “Abhyang Snan.”

In Kolkata, the capital of West Bengal, a culturally-rich eastern state of India, Diwali is signified with Kali Puja, an incarnation of Goddess Durga, the goddess of courage and bravery. The Kolkatans throng Kali temples throughout the capital city, prominent among which are those at Kalighat, Dakshineswar and Tarapith.

Right from the urban landscape dotted with shopping malls, well-lit apartment blocks, glittering sidewalks to the rustic environs, where the poor celebrate this festival in more subdued ways, Diwali presents a juxtaposition of sorts, where the extremes of India are visible.

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Washington, D.C., United States (AHN) – The decision by the United States Federal Reserve to pump $600 billion into the nation’s economy by buying U.S. Treasury Bonds has sparked international criticism led by Germany and China.

China and Germany represent the world’s second- and fourth-largest economies respectively. In addition, they were joined by Brazil and South Africa in criticizing the “quantitative easing.” Quantitative easing is the economic term for buying assets to attempt to boost the economy and lower unemployment.

However, Germany, China, Brazil and South Africa allege that the scheme will not help the U.S. economy and will instead create more problems in the rest of the world. Quantitative easing is expected to lower the value of the dollar, which will make U.S. exports cheaper in world markets.

That means that U.S. exports would be more competitive against German and Chinese exports.

Indeed, the dollar did plunge in value against several of the world’s currencies on Thursday.

Germany’s Finance Minister Wolfgang Schaeuble on Friday said the U.S. Federal Reserve’s move would undermine efforts to create a level playing field in the currency markets.

China Central Bank chief Zhou Xiaochuan said the U.S. should focus on reforming the international currency system. He argued that if the U.S. central banking policy is good for the U.S., but not good for the rest of the world that it might have a negative impact on the rest of the world.

The U.S. has criticized China for artificially keeping its currency devalued for many years to make its exports cheaper. But China made that move when its country had full employment and a budget surplus. The U.S. central bank is not buying U.S. Treasury bonds to deflate the value of the dollar abroad but rather to try to pour money into the American economy – which currently has a budget deficit – and to stimulate the weak economy to encourage American businesses to hire unemployed American workers at a time of continued high unemployment.

Germany also criticized the move because they said it would add to America’s deficit.

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