WASHINGTON Breaking News: North American Retailers Set 5-year Bangladesh Factory Plan

Wochit 1:27 mins

Nearly 20 North American retailers including Wal-Mart Stores and Gap Incorporated unveiled a 5-year safety plan for Bangladesh garment factories that would include inspecting every factory within a year. The announcement in Washington by the Alliance for Bangladesh Worker Safety on Wednesday comes after 1,129 workers were killed in the collapse of a Bangladesh garment plant in April and another 112 people perished in November fire at a Bangladesh factory. Wholesale inventories fell in May by the most in over a year and a half, the second straight monthly decline and a sign that restocking by businesses could weigh against economic growth in the second quarter. The Commerce Department said wholesale inventories dropped 0.5 percent during the month, confounding the expectations of analysts polled by Reuters, who expected an increase. It was the sharpest decline since September 2011. However, sales were stronger than expected, rising 1.6 percent. Vice President Joe Biden says China's rise is good for the U.S. and the world but Chinese theft of U.S intellectual property must stop. Biden was speaking at the opening of the annual Strategic and Economic Dialogue between the two world powers.

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