Wal-Mart Stores Inc. said Tuesday that Bill Simon is taking over as president and CEO of its U.S. operations, replacing Eduardo Castro-Wright, who is shifting to lead the retailer’s e-commerce unit Global.com and its global sourcing division.

Simon, 50, has served as chief operating officer of Walmart U.S. and previously led global business development at Chili’s Grill owner Brinker International. He takes the lead as U.S. Walmart stores struggle with declines in customer traffic. Wealthier customers who turned to the world’s largest retailer during the recession appear to be trading back up, and high unemployment and gas prices are still squeezing its main clientele.

Verizon may break AT&T’s iPhone grip

Verizon Wireless, the largest U.S. mobile-phone company, will start selling Apple’s iPhone next year, ending AT&T’s exclusive hold on the smart phone in the United States, two people familiar with the plans said Tuesday.

The device will be available to customers in January, according to the people, who declined to be named because the information isn’t public. Brenda Raney, a spokeswoman for Verizon Wireless, didn’t immediately return a call seeking comment. Natalie Kerris, an Apple spokeswoman, and Peter Thonis, a Verizon Communications spokesman, declined to comment.

Home prices rise 0.8 percent in April

Home prices in April rose for the first time in seven months as government tax credits bolstered the housing market. But the rebound may be short-lived now that the incentives have expired.

The Standard & Poor’s/Case-Shiller 20-city home price index released Tuesday posted a 0.8 percent gain. It had fallen in each of the past six months.

Eighteen of 20 cities showed price increases in April from March. Only Miami and New York recorded price declines. Nationally, prices have risen 3.8 percent from their April 2009 bottom. But they remain 30 percent below their July 2006 peak.

Supplier to Apple plans China plant

Foxconn Technology, a supplier to Apple Inc., looks ready to build a huge factory in north-central China despite the company’s own misgivings about city-sized manufacturing facilities after a spate of suicides among its young migrant workforce.

The company plans to recruit 300,000 workers for the plant, to be located in the Henan city of Hebei, according to a notice seen Tuesday on a local government website.

A spate of worker suicides at an enormous Foxconn complex in the southern boomtown of Shenzhen has drawn attention to the stress many young workers face working in some factories. It also has coincided with a spate of strikes and wage protests at other factories.

BP offering aid to its retailers

Oil giant BP PLC is floating a financial lifeline to the owners, operators and suppliers of the gas stations around America that bear its name and have been struggling because of boycotts prompted by the Gulf spill.

The head of a trade group that represents distributors of BP gasoline in the U.S. said Tuesday that the company is informing outlets that they will be getting cash in their pockets, reductions in credit card fees and help with national ads.