And they’re off! Two of the nation’s biggest discount retailers are neck and neck when it comes to attracting returning customers. But wait… Target is inching out ahead. We all know, only too well, that times are exceptionally hard on the economic horizon. Wal-Mart offers huge discounts, so they should seemingly be running away with the race. Target however, has gained a convincing lead and could realistically win out. Why? You can’t don’t like Target!
This rivalry is nothing new; we’re all familiar with the Wal-Mart/ Target feud. As Target sees it, the way into the pocket books of today’s frugal shoppers is to load its shelves with inexpensive but fun and funky colors and designs of clothing, shower curtains and bedspreads. Wal-Mart on the other hand, feels the need to put the things that people really consider necessities on their shelves; such as inexpensive paper plates, bulk meat, laundry detergent and Cheerios.
So how do these differences sit with their customers? Well basically Target is seen as an establishment that just has more fun… Kind of like Cyndi Lauper; whereas Wal-Mart is the frugal person’s choice… at least it should be. Shouldn’t it? Wal-Mart dutifully concentrates on getting its customers past these economic hardships with no nonsense; all value messages that hit home. But for some reason it hasn’t served them well as far as boosting sales is concerned. There has in fact been a decided down slide. According to the last ¾ of their annual numbers, same-store sales have declined.
According to Bill Simon, Wal-Mart’s CEO, consumers shopping at Wal-Mart for frugal deals or with walmart coupons are buying smaller packages of products consisting of cheaper brands. This is completely understandable since food prices are on the rise and budgets are increasingly tighter. Target uses a combination of designer brands, low prices, and target coupons to appeal to the frugal masses. One would think that with the economy in the horrendous condition that it’s in, fun and cute wouldn’t be enough. Apparently, however, nothing could be further from the truth. People love target, according to an industry analyst in retail; Gilford Securities’ Bernard Sosnick says that Target has transformed themselves into a fun and fantastic place to shop.
Whereas Wal-Mart’s same-store sales are down, Target has seen a marked increase in same-store sales; at least in the United States. What investors are looking for from Wal-Mart is growing sales on American ground; unfortunately for them overseas cost cutting and expansion accounts for most of Wal-Mart’s profits. So it’s not that the profits aren’t there for Wal-Mart, in fact they still remain the biggest American Company to date and upped their sales from last year by 5.7%. For the same time period, Target’s sales rose by only 3.7%. But the struggle that Wal-Mart is experiencing in America will more likely than not continue until this country’s economy bounces back… if and when it does.
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Since the European banks will be required to disclose more information about the number of employees who earn more than 1 million annually. It shows the mood in Brussels. The European Commission has proposed to the authorities in different countries to collect information on the number of people earning over 1 million a year and a breakdown of their income – salary, bonuses, long-term bonuses and pension contributions. The information will be sent in the new European banking regulator, who will publish it for the country in the same form for the 27 Member States of the European Union. The idea was included in the comprehensive proposals as part of the bill for major changes in the rules for the banking sector. Much of the proposals concern the introduction of a new international agreement, known as “Basel III”, which aims to increase the quantity and quality of banks’ capital. Most of the proposals contained in the rules that if adopted, will be binding on Member States and institutions. But the package also contains a directive that – despite the introduction of a requirement for disclosure of remuneration – aims to harmonize and strengthen sanctions against banks that violate the rules.
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Usually in the years of financial crisis and bankruptcies of hundreds of banks in USA and all over the world, the payments for the credits and credit cards are heavy weight for all the people. The bank charges are really pretty large for the customers, but interference in the operation of banks is against the marketing economy. The global economy escaped from financial crisis, but still the customers are against serious offense of increasing debt and expenses for their credits. The reclaiming ppi of the main European and USA banks are still quite high in spite of the large competition against them. The financial analyzers still claim that governments should get in charge of taking control over the bank taxes. Simple example for this was the last days project of Bulgarian Financial Ministry to limit the credit refund charges to 1% from the price of the credit. This should decrease the weight of the credits and their payments. The financial and insurance companies are usually having some extras for the credits, just like payment protection refunds, but this really is not enough for the customers to have undoubtly payments of the monthly taxes. Really financial institutions are having very difficult situation, while managing their business in the years of bankruptcies, economy decreased and unstable business.

The French Government announced on Friday a new tax increase amounted to 3.5 billion in 2011, reported Financial Times. The total increase in tax revenue next year will reach 13.2 billion, ahead of Germany’s program to reduce the budget deficit amounting to 11 billion euros in 2011. Revenue from the increase, however, retreated to the increase in VAT by 2,5 percentage points in Britain next year, which is expected to bring 12.1 billion pounds (14.7 billion). The series of tax increases to reduce budget deficit expected for this year’s 8 percent of GDP to 6% in 2011 as promised to the European Union (EU). The plans are based on forecast economic growth of 2.5 percent next year, the International Monetary Fund (IMF), the EU and many economists are optimistic about. The last tax increase should reassure the financial markets, but not cause panic in society. Earlier in the month the French government announced increased taxes on business and the rich worth 3.7 billion euros to help fill the deficit in the pension system. Paris still hopes to collect 1 billion in 2011 from the new bank tax.
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