In The Wall Street Journal, Phred Dvorak discusses the possibilities and drawbacks of using ammonia as a fuel source. He writes: Ammonia is made by producing hydrogen, then adding nitrogen. It is made in massive volumes globally—the bulk as a building block for fertilizer and the rest for uses ranging from refrigerants for skating rinks to the smelly household cleaning liquids most people are familiar with. While plants benefit from the nitrogen portion of ammonia, the clean-fuel industry is interested in its hydrogen content. Hydrogen, one of the world’s most common elements, can burn … [Read more...]
Weathering the Luxury Home Recession
Pam Danziger of The Robin Report tells her readers that leading luxury home furnishings and furniture retailers are already feeling the pinch. She writes: The U.S. luxury market is rapidly falling into a recession (if it isn’t already there), according to Chandler Mount, founder of the Affluent Consumer Research Company. His firm’s latest survey of affluent luxury consumers (average income, about $400k) finds their financial confidence has dropped from an index of 64.2 points in June, the highest it’s been all year, to 55.6 points in October, its lowest. And the index measuring future luxury … [Read more...]
Home Sales Slump as Prices Hit New Highs
Nicole Freidman of The Wall Street Journal tells her readers that home prices hit a new record in September due to a shortage of homes for sale, even as high interest rates made home purchases less affordable. She writes: The S&P CoreLogic Case-Shiller National Home Price Index, which measures home prices across the nation, rose 3.9% from a year earlier in September, compared with a 2.5% annual increase the prior month. The September level was the highest since the index began in 1987. On a month-over-month basis, the index rose a seasonally adjusted 0.7% in September. Home … [Read more...]
A Case of the Bah Humbugs for Toy Sales
Harriet Torry and Ben Glickman report that sales of toys and games have slumped as Americans show signs of pulling back. They write: Shoppers couldn’t get enough toys and games during the pandemic. Now, they are finding other ways to spend their time, and that is spelling trouble for toy makers and sellers. Sales of toys have slumped so far this year, down 8% through September compared with the same period last year, according to market-research firm Circana, and appeared poised to be lackluster this holiday season. Imports of toys and games have fallen sharply this year and sales at toy … [Read more...]
Payment for Gifts Is Upending Retailers
Suzanne Kapnar and Imani Moise of The Wall Street Journal report that consumers are shifting away from store credit cards as brand loyalty wanes and interest rates rise. They write: Retailers aren’t just having trouble getting shoppers to buy sweaters and other holiday items this season. Store credit cards are also a tougher sell. The cards, which typically can only be used at a particular chain, have been a lucrative source of revenue for retailers as merchandise sales have slowed. But the stream is drying up as Americans carry fewer cards and increasingly finance purchases with buy … [Read more...]
Stockpiles Running Low as Peak Shopping Demand Starts
Liz Young of The Wall Street Journal reports that a sharp pullback in stockpiles comes as merchants are trying to focus on getting a better handle on volatile consumer demand. She writes: Retailers are heading into their most crucial sales period of the year with a very different inventory strategy than they undertook in 2022. Warehouses are no longer stuffed with merchandise and store shelves aren’t spilling over with discounted goods in hopes of luring wary consumers into last-minute sales. Instead, merchants from big-box retailers like Walmart and Target to more specialized sellers … [Read more...]
A New Top Dog in the Delivery Business
Dana Mattioli and Esther Fung of The Wall Street Journal tell their readers that Amazon is eclipsing both UPS and FedEx in the delivery business, and the gap is growing. They write: The Seattle e-commerce giant delivered more packages to U.S. homes in 2022 than UPS, after eclipsing FedEx in 2020, and it is on track to widen the gap this year, according to internal Amazon data and people familiar with the matter. The U.S. Postal Service is still the biggest parcel service by volume; it handles hundreds of millions of packages for all three companies. A decade ago Amazon was a major … [Read more...]
Ford Tapping the Brakes with Slower EV Demand
Mike Colias of The Wall Street Journal tells his readers that Ford has restarted the construction of a battery plant it paused back in September, but downsized the scope of the project. He writes: Ford Motor F 0.20%increase; green up pointing triangle is moving forward on construction of a battery plant in Michigan but at a reduced size from original plans, citing a pullback in the outlook for future electric-vehicle demand. Ford in September paused work on the factory, in Marshall, Mich. At the time, the company said it was reassessing its ability to competitively operate the plant, … [Read more...]
Young Americans Tighten Their Belts as Boomers Consume
Young Americans are getting hit hard by the interest rate tightening cycle. Coupled with the impending implosion of Social Security and the $33 trillion in debt their parents and grandparents racked up, the future looks hard for Millennials and Gen-Zers. In The Robin Report, Warren Shoulberg explains that despite the troubles faced by younger generations, Baby Boomers are still consuming. He writes: The boomers, we all know, generally never met something they didn’t think they needed to buy. All those idealistic values that guided them earlier in their lives — the creation of Earth Day, … [Read more...]
Israel and Hamas Conflict Spilling into World’s Oceans
Costas Paris of The Wall Street Journal tells his readers that an Iran-backed group took Galaxy Leader’s 25 crew members hostage in the Red Sea over the weekend. He writes: Iran-backed Yemeni rebels said they hijacked an Israeli-linked cargo ship with 25 crew members in the Red Sea over the weekend, heightening tensions in the Gaza conflict. The Houthis, a rebel group that controls Yemen’s north, said on X, formerly Twitter, that they are taking the vessel to the Yemeni coast and would continue to target vessels linked to Israel because of its attacks on Gaza. Middle East brokers … [Read more...]
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