The coronavirus and online shopping are forcing brick-and-mortar retail stores to close, often for good.Jul 6, 2020 - Economy & Business
That could benefit budget names like Ross and Kohl's.May 19, 2020 - Economy & Business
Fashion is a massive polluter.Mar 7, 2020 - Economy & Business
If Main Street is going to be saved, enduring American vanity will be among the primary reasons.Updated Jan 12, 2019 - Economy & Business
Most importing countries have limited regulations governing used vehicle imports6 hours ago - Energy & Environment
America's biggest shipping companies are already out of excess capacity.Oct 19, 2020 - Economy & Business
Mario Kart Live: Home Circuit, the latest installment in Nintendo’s racing franchise, brings together the fun of a remote control car with the versatility of a video game, bridging the two with a clever use of augmented reality.
The big picture: As we've written before, games that merge digital and physical play have tremendous promise, but that pairing has seen more misses than hits.
Alibaba (NYSE: BABA) will pay $3.6 billion to acquire a control stake in Chinese hypermarket operator Sun Art Retail Group (HK: 6808), increasing its equity position from 21% to 72%.
Why it matters: This comes against the backdrop of China's economy growing by an official 4.6% in Q3, year-over-year, which isn't too far below projections made before the pandemic began.
Retailers on the brink are counting on what's possibly the most uncertain holiday season ever for a last shot at survival.
Why it matters: Giants like Amazon and Walmart (plus those that have benefited from work-from-home needs) are thriving. For others, the all-important shopping season is unfolding against the bleakest backdrop for the industry in years.
One undisputed victim of the pandemic is the commercial real-estate market — both offices and retail — as people work from home and go out less.
Why it matters: The problem is that commercial real estate prices are sticky. They go up a lot more easily than they come down. If they would come down to a market-clearing level, that would vastly increase economic activity and help cities — New York foremost among them — get back on their feet.
Yihai Kerry Arawana, the Chinese unit of Singapore-listed agribusiness Wilmar, raised $2 billion in a highly-oversubscribed IPO. The company is best known for its namesake cooking oil, whose logo is a golden dragon fish.
Why it matters: This was the largest-ever IPO on the Shenzhen Stock Exchange.
Walmart says it'll spread out its traditional one-day Black Friday deals over three weekends in November in an effort to reduce crowds in its stores during a pandemic, AP reports.
The big picture: The nation's largest retailer said more of its doorbuster deals will be reserved for online, as a way to steer shoppers away from its stores. Meanwhile, many stores are starting their holiday deals this month. For example, Amazon, which usually holds its annual Prime Day event in mid-July, delayed it to this week.
Over the past six months, if you're like most Americans, you've spent a lot less money on clothes than you normally would — while also spending a decent amount of money on masks.
Why it matters: Behind the change in behavior is a huge change in capital flows from some of the largest names in fashion — including Balmain, Urban Outfitters, and Walmart. The biggest losers are some of the poorest people in the world.
Small business owners and employees have been less sanguine about a delay in fiscal spending than stock traders.
Driving the news: A new survey from Alignable finds that many small businesses are growing more worried about "a severe cash crunch," with 42% saying they could collapse by the end of the fourth quarter.