US retail sales rise as consumers step up spending
Americans stepped up their spending at retailers, restaurants, and auto dealers last month, a sign of consumer resilience as the holiday shopping season begins amid painfully high…
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Retail
Pumpkin spice lattes add spice to Starbucks revenues
A bump in sales of high-priced Starbucks coffee and cold drinks in North America helped cushion a revenue drop in China.Starbucks Corp has topped Wall Street estimates for…
Amazon warns costs may eviscerate profits, shares crash
Amazon’s efforts to boost revenues may not pay off as inflation and receding consumer demand bite into profits.Amazon.com Inc has warned that costs might eviscerate its profit for…
TikTok going big on US e-commerce? Job listings offer clues
TikTok appears to be deepening its foray into e-commerce with plans to operate its own warehouses in the United States — the kind of packing and shipping facilities more associated…
Bed Bath & Beyond CFO plunges to his death
Gutstavo Arnal, the 52-year-old CFO of the struggling big-box chain, fell to his death on Friday in New York.Bed Bath & Beyond Inc’s chief financial officer has fallen to his…
US retail sales little changed in July as auto, fuel buying drop
A pullback in American consumer spending is a critical element in the Federal Reserve’s fight against inflation.US retail sales stagnated last month on declines in auto purchases…
Russians buy last goods from H&M, IKEA as stores begin exit
Mega-retailers H&M and IKEA are unloading their stocks in Russia as they wind down their business in the country.Russians are snapping up Western fashion and furniture this…
US consumer spending rises in June as inflation takes bigger bite
US consumer spending barely rose in June after falling in the prior month, underscoring how decades-high inflation has eroded Americans’ paychecks and tempered demand.
Purchases of…
US economy shrinks for a second quarter, fuelling recession fears
The fall in US GDP comes on the heels of the Federal Reserve raising interest rates, as Chair Jerome Powell says growth needs to slow.By Reade PickertBloombergPublished On 28 Jul…
With son’s appointment, Mukesh Ambani sets transition stage
For years, Mukesh Ambani has studied the ways in which billionaire families passed on what they had built to the next generation.Indian billionaire Mukesh Ambani has stepped down…