Word: retailing
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...rising unemployment, weak stock prices, and a daily drumbeat of low corporate earnings and big layoff announcements, with Cisco and Texas Instruments the latest. There's cutbacks in retail sales, and now housing. The cumulative set of statistics that we've seen lately may very well indicate that there is a recession getting under way right...
...driving the deal was the knowledge that as Germany's baby boomers approach retirement age, the market for pensions and other savings products like mutual funds seems certain to expand. With Dresdner's DIT, Allianz's large insurance sales force will have mutual funds to peddle, while Dresdner's retail bank network will become a distribution channel for Allianz's array of insurance products...
Kozmo has been earning its place in the hearts of Harvard students since it first appeared in the Cambridge area in October 1999 by providing food, video rentals and retail items to customers' doors in less than an hour. Students who used the service to rent videos could return the cassettes at drop boxes located in businesses throughout Harvard Square, such as Toscanini's, Starbucks and The Wrap...
...These may be the key numbers. All of them - retail sales, wholesale prices and especially consumer sentiment and unemployment - seem to portray an economy that is still very weak, with inflation actually declining. First-time unemployment claims hit 392,000, the highest level in five years. Generally, 425,000 to 450,000 is a level that economists generally associate with a recession. And it seems we're headed in that direction...
...Well, there's a positive to this if they think the Fed's going to step in. But this is likely going to throw some cold water on the little bit of strength we've seen in stock prices the last week or so. With retail sales down and consumer sentiment down, the outlook for corporate profits isn't going to be good, and we've really reached a point where bad economic news like this is bad news for everybody, Main Street and Wall Street alike...