Driving the news: Shein, the privately held online retailer based in China, plans to build three large distribution centers in the U.S. in an effort to put products in the hands of customers much faster in its largest market, WSJ reports.
“Buy now, pay later” services are about to be tamed.
Driving the news: Earlier today, the Consumer Financial Protection Bureau, created after the financial crisis to regulate predatory lending practices, issued its much-anticipated report on how it might oversee companies like Affirm and Afterpay.
There's a growing fear that historic, supersized interest rate adjustments simultaneously underway by global central banks will leave a devastating mark on the world economy.
Why it matters: Major economies are enacting a series of escalating rate increases, each trying to quash domestic inflation. But taken together, the risk is a global economic freeze.
The big picture: The pandemic and tight labor market are empowering more workers to organize for better conditions across the country and within new companies, including Starbucks and Amazon.
The crypto industry'scypherpunkian mettle will be tested as governments and regulators finger privacy tools for possibly enabling criminals doing bad things — in addition to normal people doing mundane things.
Driving the news: Seven tokens are set to be delisted on Sept. 19 from Top 10 exchange Huobi Global, which on Monday sent a shudder through the industry as it cited compliance with the "latest financial regulations" as just cause.
Speaking in the Rose Garden on Thursday, President Biden thanked the negotiators who brokered a last-minute deal averting a railroad strike that would have crippled the nation's still recovering supply chains.
Why it matters: Biden's handling of the negotiations between the rail companies and their unions marked a pivotal moment for the administration, which had to balance its pro-labor stance with the need to avoid an economically disastrous strike ahead of the midterms.
Eighty percent of the global workforce does not sit behind a computer.
Why it matters: Leaders in industries like agriculture, healthcare, retail, manufacturing, transportation, and construction cascade important information to employees through managers — and this game of telephone can be risky, inefficient and lead to turnover.
As chief communications and corporate affairs officer at Molson Coors, Adam Collins' job "is to help each audience believe in where our business is headed, and then act on that belief."
Fifty percent of employeesare actively looking for new jobs, according to Bully Pulpit Interactive (BPI) research.
Why it matters: Most leave because they don’t feel connected to the company’s mission, values or strategy — but smart communicators can turn disconnected employees into super fans.
Driving the news: The Inflation Reduction Act includes a 1% excise tax on stock buybacks, and corporate tax attorneys are warning that it could be applied to SPAC redemptions.
Mortgage rates have reached 6% for the first time since November 2008, according to new data Freddie Mac released Thursday.
Why it matters: Rising mortgage rates could dissuade prospective homebuyers, and particularly first-time buyers, from pursuing ownership. The climbing rates have sent demand for mortgages plummeting compared to last year.
China's President Xi Jinping met with Russia's leader Vladimir Putin in Samarkand, Uzbekistan, on the sidelines of the Shanghai Cooperation Organization (SCO) summit Thursday.
Why it matters: Their first in-person encounter since Russian forces launched their Feb. 24 invasion of Ukraine marks a show of diplomatic support for the Russian president after Ukrainian troops forced his forces to retreat from much of Ukraine's northeast, even as Putin acknowledged that Beijing may have "questions and concerns" regarding the war.
Why it matters: A strike would have had profound ripple effects on the supply chain and economy, driving up prices even more as inflation remains high.
