The Stories on Our Radar – August 14, 2020
Headlines influencing today’s markets
- U.S. retail spending has risen slightly above pre-pandemic levels while the momentum for China’s recovery is cooling as retail spending continues to disappoint.
- Rent the Runway is permanently closing down all their retail locations to focus on their online sales.
- U.S. industrial production rose again for the third consecutive month in July.
- Citigroup is asking Revlon lenders to return $900 million that was mistakenly paid to the company—and Revlon was in trouble long before.
- Thousands of UK employers aren’t investing in their employees’ pension plans because of the pandemic. Globally, retirees’ sources of income are increasingly becoming strained between situations like this and a low-rate environment—the retirement crisis was imminent prior to the pandemic, but COVID-19 is really pushing the pedal to the metal.
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