LITTLE ROCK, Ark. (Arkansas Business) -- Signs that lawmakers are making moves to end a stalemate in Washington and avert a U.S. government debt default halted a slump on the stock market Wednesday.
President Barack Obama IS now making plans to talk with Republican lawmakers at the White House in the coming days amid pressure on both sides to resolve the deadlock over the federal debt limit and the partial government shutdown before the Treasury's borrowing authority is exhausted next week.
Positive reaction to Janet Yellen nomination
Investors are reacting positively to news that the White House nominated Federal Reserve Vice Chair Janet Yellen for the top position at the central bank.
Investors expect Yellen to continue the aggressive economic stimulus policies started by the outgoing Chairman Ben Bernanke.
The Fed's stimulus has been a crucial support for a stock market rally that began more than four years ago.
Walmart splits from India partner
Wal-Mart Stores Inc. of Bentonville announcing that it's splitting from its Indian business partner and can't move forward with plans for its own retail stores in India.
Wal-Mart, which has been trying for years to establish a larger retailer operation in fast-growing India, cites strict government regulations on sourcing goods from local small businesses as reason for the split.
Still, Wal-Mart already runs a wholesaling joint venture in India and will continue that business.
Despite a potential market of 1.2 billion people, no large foreign chains have formally applied to open supermarkets and other multi-brand stores in India since the government changed a law last year regarding how those stores are owned.
Power of the Purse NWA luncheon
The Women's Foundation of Arkansas is holding its 2nd annual Power of the Purse Northwest Arkansas luncheon beginning at 11:30 a.m. at the Embassy Suites in Rogers.
The group will honor Martha Moore, owner and president of McCormick Asphalt Paving and Excavation of Ozark as its Woman Business Leader of the Year.
G60 elevator pitch competition
In Russellville, the G60 Elevator Pitch competition gets underway at 5:30 p.m. at Arkansas Tech University's Lake Point Conference Center.
The event gives entrepreneurs 60 seconds to pitch their business to an audience of investors and others.
There are prizes for the winning contestant.
You can read more about that event at InnovateArkansas.com.