Consumer spending is on the upswing
June 29, 2016
Consumer spending increased in May increased 0.4 percent on top of an upwardly revised 1.1 percent gain in April, according to the Commerce Department.
Recent News
Coach and Michael Kors Parent Companies’ Merger Challenged
The FTC is opposing the $8.5 billion merger between Tapestry and Capri, the parent companies behind brands like Coach, Kate Spade, Michael Kors, and Versace. This move is unusual for the FTC, which rarely steps in on fashion industry deals due to its competitive nature.
Tesla Slashes Prices in US, China, and Germany To Battle Rising Competition
Following significant price cuts in the U.S., Tesla has revealed that similar reductions will be applied in China and Germany as well.
Rivian Offers $5K ‘Electric Upgrade’ Discount to Customers With Select Gas-Powered Vehicles
Rivian is offering customers with gas-powered Ford and Toyota SUVs and trucks discounts of up to $5,000 on its EVs, along with a year of complimentary charging.
Fashion Retailer Express Files for US Bankruptcy Protection
The retailer is expected to close almost 100 stores nationwide.