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993 days ago

US retail and food-service sales have soared in June

Some retailers have said that challenges ahead include attracting workers for open positions and supply-chain disruptions placing constraints on businesses. A Bank of America tracker of credit- and debit-card spending showed consumers in June boosted expenditures at restaurants by 2.7% and on lodging by 7.8% compared with May, on a seasonally adjusted basis. Spending for clothing, general merchandise and at department stores also rose strongly, while spending on furniture fell. The National Retail Federation, a trade association, in June lifted its forecast for annual retail sales this year to between $4.44 trillion and $4.56 trillion, from $4.33 trillion to $4.44 trillion previously. Source: WSJ

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993 days ago

The Biden administration to address the US housing shortage--will it appease soaring prices?

Low mortgage rates and high demand for new properties in the suburds spurred by remote work because of the pandemic has fueled the housing market for more than a year. A shortage of homes for purchase has only exacerbated the crisis further with the Case-Shiller index climbing more than 14% from a year earlier in April. Source: Bloomberg 

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993 days ago

Paytm files for $2.2 billion IPO

The digital payments pioneer based is India is planning a $2.2 initial public offering while being valued at $16 billion. The plan is to issue shares and secondary stocks. Source: Bloomberg

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994 days ago

Softbank invests $1.7 billion in Yanolja ahead of IPO

Right before its IPO, Yanolja, South Korea's largest travel app, got extra capital from Softbank helping the company expand geographically and develop digital technologies in the travel and hospitality industry. This investment boosted the company's valuation to more than $9 billion. Source: Bloomberg

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994 days ago

Twitter will interrupt Fleets, their stories feature

Social media Twitter announced yesterday that they would discontinue its Fleets feature next month. They noticed that the feature did not increase engagement from users, but only helped already really active members. The company will now be looking for a way to help engage with those who only consume but do not speak. Source: CNBC

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Twitter will interrupt Fleets, their stories feature
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