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Incoming Best Buy CEO Jason Bonfig plans to expand the retailer’s reach by opening smaller stores ranging from 12,000 to 15,000 square feet in markets unable to support traditional locations.
Gibraltar is scheduled to remove border controls with Spain on July 15, ending decades of frontier restrictions and allowing free movement between the British territory and the EU.
Fast-fashion retailer Shein disclosed in Hong Kong IPO documents that it is under investigation by the U.S. Federal Trade Commission, though the company did not specify the investigation’s subject matter.
The Federal Reserve held interest rates steady for the fifth consecutive time, with Chair Kevin Warsh stating there is no quick fix to reduce inflation, which remains elevated above the Fed’s 2% target.
UK house prices rose just 0.1% in July as buyer caution over interest rates and geopolitical tensions dampened activity during the traditional peak selling season.
Major consumer companies are increasingly staying private longer, with fewer IPOs occurring since 2021’s record year. Access to private capital and secondary markets have reduced the urgency for companies to pursue public offerings.
