Word: retail
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...however, may not be a sure bet. Some economists had thought that increasingly wealthy Chinese, with their appetite for cars, mobile phones and Big Macs, could help fill the breach opened by retreating American spenders. But that hope, too, is fading. Though Chinese spending is so far holding up - retail sales of consumer goods jumped 23% in September - household consumption, at only 40% of GDP (compared with about 65% in industrialized countries), isn't yet substantial enough to maintain China's high growth rates. "I don't think [domestic spending] will replace what has been lost in exports," says...
...consequential, economic chapters in our history: the great deleveraging of America. On Wall Street, the largest financial institutions on the planet are reducing their debt and trying to build up capital, which once upon a time was the seed corn of their business, and now must be again. Retail banks like Wachovia and investment banks like Morgan Stanley have been so burned by their own reckless use of debt that only recently - and after unprecedented government intervention - have they been willing to once again make the most basic short-term loans to one another. The gradual thawing of the overnight...
...Hungarians and others - thought their buoyant domestic growth could insulate them from a downturn in the U.S. and Western Europe. Now they're discovering that it can't. "A lot of us gave credence to 'decoupling,' " says Ümit Boyner, who together with her husband runs a big Turkish retail empire. "Looking ahead, we're wondering if we've even seen the worst...
...That's little consolation to Ümit Boyner. The Boyner family's retailing business includes many of the world's top brands, from high-end names such as Prada and Bottega Veneta to more affordable ones like Benetton. Along with their competitors, the Boyners have been on a roll. New shopping malls have sprung up across the country, especially in Istanbul, where some of the most recent examples were deliberately aimed at upscale, upwardly mobile clients. The Boyners have fully participated in this boom; for luxury goods alone, they doubled their retail space over the past two years...
...original design for the space—which included one residence hall on Mass. Ave and a parking lot behind it—drew a great deal of criticism from the community.David Chilinski, who is part of the Lesley working group, cited the absence of space for retail establishments on the ground floor of the Mass Ave building and the large parking lot that would jut into the neighborhood on Wendell Street as issues with the original proposal.“Lesley came with a plan that was what they would be allowed to do by right...