Latest Retail industry News

Asian shares mixed on caution over China-US trade deal

Oct. 17, 2019 1:01 AM EDT

BANGKOK (AP) — Asian shares were mixed Thursday after officials signaled work remains to be done on an agreement for a truce in the tariff war between the U.S. and China. Hong Kong led regional gains after its chief executive, Carrie Lam, announced help for the property sector. The semi-autonomous city's...

Opioid settlement talks broaden ahead of 1st federal trial

Oct. 16, 2019 9:41 PM EDT

CLEVELAND (AP) — Efforts to settle thousands of lawsuits related to the nation's opioid epidemic intensified Wednesday ahead of the scheduled start of arguments in the first federal trial over the crisis. A person with knowledge of the negotiations told The Associated Press that three major drug...

Michigan House OKs taxes on out-of-state online retailers

Oct. 16, 2019 5:52 PM EDT

LANSING, Mich. (AP) — Many out-of-state websites that facilitate online sales in Michigan would have to collect and remit the 6 percent sales tax under legislation approved unanimously Wednesday by the state House. The bills, which were referred to the Senate for consideration next, would bring in an...

Cuba to let citizens buy imports with foreign currencies

Oct. 16, 2019 5:12 PM EDT

HAVANA (AP) — The Cuban government says it will allow citizens to use 10 foreign currencies to buy products like televisions and air conditioners at state stores in an attempt to compete with a multi-billion-dollar informal market in imported goods. The communist state has a monopoly on most forms of...

Markets Right Now: Stocks close mostly lower on Wall Street

Oct. 16, 2019 4:12 PM EDT

NEW YORK (AP) — The latest on developments in financial markets (all times local): 4 p.m. Stocks are closing mostly lower on Wall Street as losses for technology and energy companies offset gains in other sectors. Salesforce.com slumped 3.8% Wednesday and Exxon Mobil gave up 1.7%. Homebuilders benefited...

Retail worry: Will wine, cheese tariffs hurt holiday sales?

Oct. 16, 2019 12:56 PM EDT

NEW YORK (AP) — The tariffs the Trump administration is about to impose on wine, liquor and cheese from Europe couldn't come at a worse time for small retailers. "It's kind of scary in the sense that we're getting to the holiday season," says Joseph Kakos, owner of Kakos Fine Wine & Spirits in...

Florida's attorney general launching vaping investigation

Oct. 16, 2019 12:50 PM EDT

TAMPA, Fla. (AP) — Florida's attorney general announced Wednesday that she will investigate more than 20 vaping companies that sell the products in the state, saying there's a growing epidemic of teens using the e-cigarettes. In a news conference at a Tampa high school, Moody said the investigation will...

US retail sales dip 0.3% in September

Oct. 16, 2019 10:15 AM EDT

WASHINGTON (AP) — Retail sales dropped in September by the largest amount in seven months, possibly signaling that rising trade tensions and turbulent markets are having an impact on consumer spending. Retail sales fell 0.3% last month following a 0.6% gain in August, the Commerce Department reported...

Liquor sales temporarily suspended at Grand Rapids arena

Oct. 16, 2019 9:09 AM EDT

GRAND RAPIDS, Mich. (AP) — Michigan regulators have temporarily suspended the liquor license of Grand Rapid's Van Andel Arena after two underage patrons bought alcohol at the venue. The Michigan Liquor Control Commission has suspended the arena's liquor license for four Grand Rapids Griffins hockey games....

US retail sales fall 0.3% in September, biggest decline in 7 months

Oct. 16, 2019 8:33 AM EDT
WASHINGTON (AP) — US retail sales fall 0.3% in September, biggest decline in 7 months.