Your Arkansas Business headlines for Friday, September 16

LITTLE ROCK, Ark. (KTHV) -- Arkansas Business' Lance Turner has the financial headlines for Friday, September 16.

 

Structural work adds $360,000 to tech park cost

Little Rock Tech Park renovations could cost more than expected and even be delayed.

Executive Director Brent Birch said it could cost an additional $360,000.  The opening could be delayed from January to February of next year.

He said it's because of unexpected structural issues at 415 Main Street where workers are renovating existing structures.

The board has contingency funds to cover overruns.

 

Walmart-Canada extending Visa ban

Walmart expanded its dispute with Visa to its Canada stores.  16 stores in the province of Manitoba will stop accepting visa cards next month.              

In June, Walmart was unable to agree with Visa on fees it would have to pay for use of the cards, saying they would no longer accept Visa credit cards unless it got a better deal.

A Walmart spokesperson said Visa cards might be banned in more stores if the companies cannot reach an agreement.

The negotiations don't affect Walmart's U.S. stores.

 

Retail sales fall for first time in 4 months

The Commerce Department said they fell 0.3%, as consumers lowered spending on building materials, furniture, new cars--even products sold online.

Still, economists said the underlying fundamentals for consumers to remain strong.  Back-to-school shopping helped bolster sales of clothing.

Spending at restaurants and grocery stores also improved.


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