The Stories on Our Radar – August 14, 2020

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.

RELATED CATEGORIES: China, Daily Briefing, Pension Crisis, What We're Reading

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