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“# Thai finance minister critical of current crypto speculative surge ” Thailand’s booming cryptocurrency trading market is causing some concern for government officials. According to Bloomberg, Arkhom Termpittayapaisith — the country’s finance minister — has warned that the ongoing crypto speculative mania could have dire implications for Thailand’s capital market. The finance minister issued the…
“#Retail sales fell in December amid COVID-19 surge” US retail sales fell for the third straight month in December as the coronavirus pandemic led shoppers to pinch pennies and hunker down at home. Retailers and food-service merchants raked in just under $541 billion last month — the lowest level since July — following decreases of…
“#Poshmark more than doubles its value in blockbuster Nasdaq debut” Shares of Poshmark soared more than 130 percent in their stock market debut on Thursday, valuing the online fashion marketplace at $7.15 billion, highlighting investor optimism for online shopping that has surged during the COVID-19 pandemic. Shares opened at $97.50 on the Nasdaq, well above the…
“#Americans spent at a record pace over the holidays” Having nowhere to go and nothing to do is proving an unexpected but lucrative formula for retailers. Holiday spending rose by 6.8 percent to a record $756 billion in November and December, according to new research. Driving the demand, according to retail consulting firm Customer Growth…
“#We need to save Manhattan retail to protect jobs for New Yorkers” More from: Before COVID-19, employment in New York was at a record high, with nearly 4.1 million private-economy jobs. And one of the biggest engines of growth was a career opportunity that has existed since Roman times: the supposedly humble job in a…
“#Neiman CEO Geoffroy van Raemdonck slammed for pay, lavish perk” Neiman Marcus emerged from bankruptcy with a cushy perk for its top execs — and now its leaders are being accused of escaping the belt-tightening they imposed on everyone else. Neiman CEO Geoffroy van Raemdonck has been lauded for steering the troubled retailer out of…
“#Stitch Fix stock surges to record high after surprise profit” Shares of Stitch Fix surged on Tuesday after the personal styling service posted a surprise, pandemic-fueled quarterly profit while projecting a financial growth spurt. The San Francisco-based firm’s stock price surged as much as 53 percent to an all-time intraday high of $54.94 on the…
“#UK retailer Debenhams set to shut down, 12K jobs at risk” British retailer Debenhams is set to shut down after more than two centuries, putting its 12,000 employees on the chopping block as the coronavirus crisis hammers the industry. The struggling department store chain was forced to close up shop after failing to find a…
“# Former digital head at luxury brand group LVMH takes role at Ledger ” The revolving door between traditional finance and the crypto space is well established. Now, executives from the luxury goods sector appear to be following in their steps. Ian Rogers, formerly the chief digital officer at LMVH, is taking on a new…
“# Lolli integrates ‘free Bitcoin’ functionality for eBay before Black Friday ” Online auction marketplace eBay is teaming up Lolli, a crypto-centric shopping app, to integrate Bitcoin (BTC) rewards for its 127 million users. Lolli announced Wednesday that its users can earn 1% back in Bitcoin when they shop on eBay’s marketplace. The initiative is…