The devastation in the US retail sector is accelerating in 2017, and in addition to the surging number of brick and mortar retail bankruptcies, it is perhaps nowhere more obvious than in the soaring number of store closures.
American retailers are closing stores at a record pace this year as they feel the fallout from decades of overbuilding and the rise of online shopping.
More Americans between the ages of 18 and 34 live with their parents than with a spouse, according to a new study.
Subway Restaurants closed hundreds of domestic locations last year, marking the biggest retrenchment in the history of a chain that spent decades saturating America with restaurants.
While extolling the virtues of American consumers and praising the US economy, Warren Buffett has started seeking the help – and funds – of Chinese oligarchs to sell houses from his real estate brokerage HomeServices. According to Bloomberg’s Berkshire’s real estate brokerage, HomeServices – currently the second-largest U.S. residential real estate brokerage – acquired as part of Buffett acquisition of an energy business, “is expanding its global reach with a push to attract wealthy Chinese citizens to purchase homes in the U.S”, in the process diverting “hot” Chinese money to the US (see Vancouver and Toronto for the outcome).
US aircraft manufacturer Boeing has announced new involuntary layoffs to reduce costs, one of the company’s many such arrangements this year to save its faltering profits.
In an email sent to students on Thursday, Vinnie Cazzetta, executive director of the nonprofit Orange County Community College Association, which runs the cafeterias, said the change comes after the college’s food-service operations showed a deficit of more than $150,000 last year, “continuing a trend of significant operations losses that has existed for years.”
Walmart (WMT) is dangling more online-order discounts in front of consumers while cutting corporate head count as it doubles down on efforts to cut costs and better compete with e-commerce behemoth Amazon […]
Toyota Motor said Monday it is planning to invest $1.3 billion in its Camry sedan plant in Kentucky and considering adding more U.S. capacity, moves that could thaw the Japanese auto giant’s relationship with the Trump administration.
The price of crude oil is up after the United States launched dozens of cruise missiles at an airbase in Syria in what traders called a knee-jerk reaction.
Treasury Secretary Steven Mnuchin appeared optimistic that China was willing to work with the United States on trade, after a series of meetings with President Xi Jinping and his delegation.
President Donald Trump is preparing to issue an executive order with the goal of giving oil companies more opportunities to drill offshore, reversing Obama-era policies that restricted the activity. The offshore drilling […]
Companies added 263,000 jobs for the month, ADP and Moody’s Analytics said. That was well above the 185,000 expected from economists surveyed by Reuters and also better than the 245,000 reported for […]
Shares of the e-commerce king, which is also now a cloud computing giant, connected-home leader, drone company, freight airline, Hollywood studio and even a traditional brick-and-mortar retailer, rose above $900 for the first time Tuesday.
The National Football League has reached a deal to stream 10 Thursday night games with Amazon.com Inc., the online retailer that is aggressively trying to position itself as a premier source of […]
Failing Starbucks launches new marketing campaign to bridge the gap between liberals and conservatives
Though Starbucks may be known to most Americans for its lattes and friendly staff, one thing that the international coffee giant tends to have trouble with is conservative outreach. As a matter […]
Coca-Cola (KO) is the new official soft drink of Major League Baseball under a sponsorship agreement announced Monday.
Durex, a famous global condom manufacturer, has announced the launch of its jeans line. Most internet users haven’t taken it seriously and consider it part of a marketing campaign; but the news has turned out to be real. For the time being, Durex jeans will only appear in India.
Apple Inc. will soon start assembling iPhones in India for the first time, say government officials familiar with its plans, boosting the company’s chances of gaining a foothold in the fast-growing market.
Postmates is a U.S. corporation based in San Francisco with a mission to allow “anyone to have anything your heart desires to be delivered on-demand.” The company was birthed in 2011 by […]
The US Federal Reserve on Wednesday raised the benchmark interest rate a quarter point, noting that inflation is moving closer to the central bank’s two percent target.
Signet Jewelers Limited, the world’s largest retailer of diamond jewelry, announced plans to close between 165 and 170 stores by early 2018. Signet is the parent company to Zales, Kay Jewelers, and […]
Think about all that money that didn’t go to drug cartels and other various illegal dealers. And what about the tax? That is a lot of tax on $1 billion!
The system is breaking apart as we speak.
Fed Chair Janet Yellen dropped a strong hint Friday that an interest rate hike is on the way later this month.
For the first time in the history of the virtual currency, a single Bitcoin has become worth more than an ounce of gold.
Home Depot (HD) plans to hire 80,000 Americans, as the home-improvement retailer prepares for the busy spring season.
The Chinese government said it supports the work of the World Trade Organization (WTO) after President Donald Trump threatened to go against the trade body’s rules if they hurt the United States.
Faced with rising labor costs, fast-food giant Wendy’s has announced a plan to replace employees with self-ordering kiosks in 1,000 stores by the end of the year. Former McDonald’s USA CEO Ed Rensi says Wendy’s move is a direct response to the push for a minimum wage increase to $15-an hour, and he believes automation is here to stay.