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Aug 15, 2024

A “discerning but not defeated” consumer

Shoppers were shopping more energetically than expected in July, with retail sales up 1%. We discuss.

We shopped 'til we dropped
by David Brancaccio
Shoppers certainly shopped in July — retail sales were up 1%. This is boosting stocks, but making players in the bond market fret that they might not get as many interest rate cuts this year. Let’s chat about the data with Diane Swonk, chief economist at KPMG.
A fake review soon comes with a fine
by Nova Safo
The Federal Trade Commission has banned buying or selling fake online reviews. It’s a move supported by tech companies, including Amazon and Yelp. The ban is extensive, and its penalties are expensive — up to $50,000 per violation.
BYD comes to Turkey
by Victoria Craig
Tesla’s worst nightmare could be BYD, the electric vehicle maker out of China. BYD cars are subject to big tariffs if exported to the U.S. or the European Union, however. Now, BYD is confirming a plan to build a $1 billion EV factory in EU-adjacent Turkey.