Business
RETAIL AND BUSINESS NEWS
Nordstrom Closing Santa Monica Store Amid Retail Restructuring
Retail giant Nordstrom is shutting down its Santa Monica Place location as part of a strategic restructuring to better adapt to the shift toward online shopping.
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Specialty Retailer Closing All Stores Unexpectedly
A practical fashion retail chain is unexpectedly shutting down all its locations, adding to the broader struggles faced by specialty retailers despite their focused business models.
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Constellation Brands Reports Sales Decline Due to Weak Consumer Demand
The beverage giant behind Corona and Modelo reported fiscal first-quarter results below analyst expectations, with the CEO citing softened consumer demand as the primary factor.
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Business Owner Uses Credit Card Points to Offset Tariff Costs
A business owner utilized 1.8 million credit card points to help pay for increasing tariff costs, which initially stood at 25% before temporarily spiking to over 100% and now settling at 55% for potentiometers.
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GLOBAL ECONOMY AND TRADE
Trump Threatens Japan with 35% Tariffs
US President Donald Trump has escalated tensions by threatening Japan with tariffs up to 35%, raising market concerns about a potential worst-case scenario for trade relations.
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Asian Stock Markets Under Pressure from Tariff Threats and US Rate Outlook
Asian stocks declined as investors assessed the impact of potential US interest rate cuts and evaluated the implications of recent tariff threats on global markets.
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Northeast Asia Increases Jet Fuel Exports to Europe
Traders shipped the highest volume of jet fuel from Northeast Asia to Europe in nearly a year during June, driven by lower freight rates and abundant Asian supplies.
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India's IPO Market Expected to Raise $2.4 Billion in July
Investment bankers project that Indian firms could raise approximately $2.4 billion through IPOs in July, signaling a potential recovery in primary offerings after previous demand suppression.
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CONSUMER FINANCE AND DATA SECURITY
Medicare Data Breach Affects Personal Information of 100,000 Americans
The Centers for Medicare & Medicaid Services reported that personal information of Medicare recipients was compromised and used to create unauthorized accounts.
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LOTTERY AND GAMING
Mega Millions Jackpot Reset to $50 Million After Virginia Winner
The Mega Millions jackpot returned to its base value of $50 million for the July 1 drawing after someone in Virginia won the previous jackpot on June 27.
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West Virginia Lottery Results for July 1
West Virginia lottery players have access to popular national games like Powerball and Mega Millions, as well as other options including Lotto America.
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