The Wall Street Journal reported that Goldman Sachs is mulling whether to launch a new trading business that is focused on bitcoin and other cryptocurrencies. If the firm moves ahead with these plans, it will be the first high-profile Wall Street company to deal directly in the bitcoin trading market.
While big Wall Street firms have embraced blockchain, the technology that enables cryptocurrency, they have yet to make a big push into cryptocurrency trading. If Goldman does decide to enter the market, it would be a completely different response to growing demand for bitcoin than what came from rival JPMorgan.
For the last several years, economists have been trying to crack the mystery of low U.S. inflation. Despite being ten years out of the financial crisis, U.S. inflation stubbornly refuses to resume normal growth and remains below the Fed’s 2 percent target.
The “Amazon effect” is thought to be a culprit — it prevents brick-and-mortar retailers from raising prices, and instead forces them to “cut prices in a desperate bid to stay alive” to compete with online retailers
Online Grocery Shopping
Walmart is seeking an edge against Amazon with a push from their online grocery service. Order your groceries online and have them delivered straight to your car. Customers never have to step inside the store.
Walmart, which is one of the largest food retailers in the United States, sees grocery pickup as a way to marry its e-commerce business with its gigantic network of stores — a goal that has eluded many other retailers. The company started ramping up the service two years ago, and it is now available in about 1,000 of Walmart’s 4,699 stores across the country.
If you want to understand Macy’s ongoing sales slump, look past the market share lost to Amazon, the explosion of off-price chains like T.J. Maxx, and slow mall traffic to see one of the most devastating culprits: Macy’s shrinking status as a leading purveyor of beauty products.
Beauty is one of the only categories in retail showing consistently strong growth. But Macy’s has been losing ground at the cosmetics counter to leaner, hipper competitors, including strip-mall stalwart Ulta Beauty and Sephora.
Now, as it looks to end a streak of 10 quarters of comparable sales declines, Macy’s is more forcefully taking advantage of a weapon it acquired two years ago: the fast-growing, upscale Bluemercury chain of neighborhood beauty stores and spas. In addition to 155 stand-alone Bluemercury stores, there are now 20 full-size Macy’s (out of 670) that incorporate one of the brand’s shops, with more to come.