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“#Biden’s commerce secretary says many retail jobs may not return” President Biden’s Commerce Secretary Gina Raimondo said in an interview that many pre-pandemic jobs, especially in the retail and service sectors, might not come back even as the labor market recovers from the pandemic. “The real issue, I think, is that a lot of the…
“#Burberry shares fall as CEO prepares to leave for Ferragamo” Shares of the London-listed luxury fashion house Burberry tumbled Monday after it announced CEO Marco Gobbetti will depart at the end of the year to lead Italian rival Salvatore Ferragamo. Burberry stock traded as much as 8 percent lower Monday morning on the news, while…
“# Better, faster, cheaper: How DeFi will kill the retail bank ” The world runs on consumer spending and consumer saving. It is everyday people who actually power the most important parts of the global economy and the global financial system. For consumers, this system runs through their retail bank. It is where most people…
“#Retail sales dropped 1.3 percent in May, but services rose” US retail sales dropped more than expected in May, with spending rotating back to services from goods as vaccinations allow Americans to travel and engage in other activities that had been restricted by the COVID-19 pandemic. “Activity decelerated likely on a shift from goods spending…
“#Netflix opens online shop offering merchandise from hit shows” Netflix has launched an online shop that sells branded merchandise from hit shows like “Bridgerton,” “Stranger Things” and “Lupin.” On Thursday, the streaming giant unveiled its online store Netflix.shop, which includes collections designed by Nathalie Nguyen, Kristopher Kites and Jordan Bentley that are inspired by the…
“#Supreme, Fendi, Lacoste and more” Call it Haute Shop Summer. From sneakers to streetwear, retailers around the globe are opening up storefronts chock-full of coveted goods. New Yorkers can pop in to Lacoste’s newly opened Soho flagship for a chic polo (they’re the shirt du jour, didn’t you know?). If you’re flying to Europe, make your way towards…
“# Restricting crypto trading to millionaires good for Hong Kong, says official ” Christopher Hui, Hong Kong’s Secretary for Financial Services and the Treasury has defended the recent proposal by the city’s Financial Services and the Treasury Bureau to ban retail crypto trading. In a speech delivered at StartmeupHK virtual fintech summit on Thursday, Hui…
“# Voyager Digital sees 16X increase in quarterly revenue, first operating profit ” Crypto asset trading firm Voyager Digital has announced financial results for the first quarter of 2021, and they are impressive. The retail crypto trading and yield platform reported another record quarter, with momentum continuing into the current quarter. Total revenue for the…
“# Oh where, oh where have Ethereum bulls gone? Sub-$4K ETH fails to entice traders ” Cryptocurrency price corrected sharply today, including Ether (ETH), but this is a short-term move which is not reflective of the more macro-level events which still paint a bullish picture for assets like Ether and Bitcoin. In the last 30…
“# Dogecoin price dumps, but whodunnit? Whales, institutions or retail traders? ” Most recently, DOGE pulled off a 10x gain as it rallied to $0.74 in the past week. The breakout was fueled mainly by Tesla CEO Elon Musk and his constant mentions of the token on social networks and interviews. Surprisingly, as Musk debuted…