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Category: Economy

Brick-and-Mortar Stores Are Shuttering at a Record Pace

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.

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Warren Buffett Now Selling U.S. Houses To Chinese Oligarchs

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).