China’s e-commerce giant JD.com is said to be doubling down on its budget shopping platform Jingxi in its latest move to win consumers in the “sink” market, made up mostly of small towns where shoppers have limited spending power, amid fierce competition with rivals such as PDD Holdings. Borrowing a page from PDD’s playbook, JD.com […]
By Chris Taylor NEW YORK (Reuters) – When Ted Rossman was at Newark Airport in New Jersey the other day, he got a shock along with his sandwich. Rossman, a senior industry analyst for financial information site Bankrate, went to a self-serve kiosk for a snack before a flight, scanned the item himself, and was […]
A J.D. Power study revealed several issues troubling battery electric vehicles, finding 266 problems per 100 electric vehicles versus 180 per 100 internal combustion engine vehicles. Pras Subramanian joins Market Domination Overtime to discuss the maintenance challenges, particularly for Tesla (TSLA) vehicles. For more expert insight and the latest market action, click here to watch […]
Walgreens’ (WBA) quarterly results are the latest sign that US consumers are increasingly under pressure. Shares of Walgreens Boots Alliance tanked 24% on Thursday after the retail pharmacy chain lowered its full-year guidance due to challenging pharmacy industry trends and a “worse-than-expected” consumer environment, with management citing “a sustained pullback” in discretionary spending. “In US […]
California franchise owners and consumers are feeling the brunt of higher costs. After 30 years in business, McDonald’s franchisee and Rodrick Foods CEO Scott Rodrick had to make the difficult decision to not renew his lease at one of his McDonald’s (MCD) locations at a mall in San Francisco. “The unprecedented changes to the economic […]
MADRID (AP) — Spain will temporarily eliminate the sales tax on olive oil to help consumers cope with skyrocketing prices, the government said Tuesday. Spain is the world’s leading producer and exporter of olive oil, but its cost for domestic consumers has risen dramatically due to global inflationary pressures and a prolonged drought that decimated […]
MADRID (AP) — Spain will temporarily eliminate the sales tax on olive oil to help consumers cope with skyrocketing prices, the government said Tuesday. Spain is the world’s leading producer and exporter of olive oil, but its cost for domestic consumers has risen dramatically due to global inflationary pressures and a prolonged drought that decimated […]
(Bloomberg) — Hackers are selling data about consumers of the LendingTree Inc. subsidiary QuoteWizard after the company detected unauthorized access on a cloud database hosted by Snowflake Inc., according to a person familiar with the matter. Most Read from Bloomberg There have been several listings of the data on cybercriminal forums, the person said, asking […]
China’s domestic consumers are spending less and saving more as the country experiences stagnating economic growth, rising unemployment and a folding property sector. Since 1978, China’s GDP growth has averaged over 9% annually, and the World Bank estimates that this saw almost 800 million residents lifted out of poverty. With wealth came spending, and retail […]
China’s domestic consumers are spending less and saving more as the country experiences stagnating economic growth, rising unemployment and a folding property sector. Since 1978, China’s GDP growth has averaged over 9% annually, and the World Bank estimates that this saw almost 800 million residents lifted out of poverty. With wealth came spending, and retail […]
China’s domestic consumers are spending less and saving more as the country experiences stagnating economic growth, rising unemployment and a folding property sector. Since 1978, China’s GDP growth has averaged over 9% annually, and the World Bank estimates that this saw almost 800 million residents lifted out of poverty. With wealth came spending, and retail […]
When it comes to rising electric bills, Rick Dowell sees Oklahoma Gas and Electric Co. as a utility that is pursuing a historic rate hike that will not just hurt residential consumers but could also send Oklahoma City’s economy into a tailspin. Dowell, and thousands of other OG&E customers, face a 13.85% increase in their […]