Specialty Retail industry news provided by Financial News USA (OTC: FNWU) Google Inc. (Nasdaq:GOOG) said Thursday it expects to complete its $1 billion investment in America Online during the second quarter, slightly later than the two popular Web sites originally anticipated. When the online search engine leader announced its plan to buy a 5 percent stake in AOL three months ago, the two sides predicted the $1 billion would be invested before the end of March. Mountain View, Calif.-based Google now expects to make the investment some time during the three months ending in June. Fidelity Investments reportedly plans to sponsor a financial services "store" on Amazon.com (Nasdaq: AMZN), allowing it to list information on its mutual funds and advertise to Amazon customers. The companies did not disclose financial expectations and terms of the arrangement. The agreement was first reported Friday by Reuters. Financial services is a relatively new area for Web-retailer Amazon.com Inc.
Wal-Mart Stores, Inc. (NYSE: WMT), announced recently that it has named J.P. Suarez its senior vice president and chief compliance officer for its U.S. operations. He will lead a compliance team that centralizes the retailer's current environmental, privacy, immigration and operational compliance functions, in addition to asset protection for all U.S. divisions, including Wal-Mart Stores, SAM'S CLUB and Logistics. China Direct Trading Corp. (OTCBB:CHDT) (CHDT) announced recently record monthly gross revenues of $950,000 for February 2006, as compared to gross revenues of $688,000 in January 2006, a sequential increase of 50 percent month over month. The sale of power generators by Complete Power Solutions (CPS), a subsidiary of CHDT, accounted for $910,000 of the sales for February.
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