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After winning a major discrimination suit brought by female employees that escalated to the Supreme Court, Wal-Mart is offering a condolence prize: a multibillion-dollar women’s initiative. The new program will involve buying $20 billion worth of products from female-owned businesses; training women worldwide to work in factories and retail; asking corporate partners to promote more women; and donating $100 million to women’s nonprofit groups. The world’s largest retail employer, Wal-Mart may still face lawsuits over gender-based pay discrimination in lower courts. The company’s stock price jumped five cents when the initiative was announced Wednesday.

Read it at Bloomberg News

September 15, 2011 12:18 AM