Cold March Keeps Shoppers’ Spending Tepid
NEW YORK — So much for new spring shorts and T-shirts. As cold weather lingered across most of the country, Americans shopped modestly in March. U.S. retailers reported a key revenue figure rose slightly during the month, as shoppers held back on spending because of the cold weather across the nation, particularly the Midwest and East Coast, and continued fears about the economy. Economists monitor consumer spending because it accounts for more than 70 percent of economic activity. According to a preliminary tally of 15 retailers by the International Council of Shopping Centers, revenue in stores open at least a year rose 1.6 percent, or 2.5 percent excluding drugstores. That was below expectations, said Michael Niemira, chief economist at the ICSC. Weather was a factor, with March being the coldest in seven years. The comparison with last March was especially tough. Last year saw the warmest March on record, according to weather research firm Planalytics Inc. “Wintry weather conditions ...
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American Families Increasingly Let Kids Make Buying Decisions
Breakfast is the most important meal of the day — so why are you letting your kid pick what you’ll eat? A new study from the NPD Group shows that parents defer to their children about a third of the time when it comes to deciding what to eat for breakfast, and about a quarter of the time for lunch. (The family members who are old enough to bring home the bacon are still the ones calling the shots on dinner, with only 3% of kids dictating that menu.) The mealtime surrender is just one more way parents are increasingly letting their children dictate what they buy, and it’s got marketers scrambling. NPD advises companies, “By understanding who controls the meal… you can more effectively target your audience.” According to a study conducted last year by Viacom’s Nickelodeon, kids pick what to eat 85% of the time at fast-food visits. (Maybe that’s why those apple slices haven’t been selling like, well, hotcakes infused with syrup and wrapped around eggs, cheese, and a sausage ...
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Judge Approves AIG Settlement
A judge signed off on a $115 million settlement by former American International Group Chairman Maurice Greenberg and other former executives to resolve claims they mislead investors about the insurer's financial results.
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NY judge approves $115 million AIG shareholder settlement
NEW YORK - A federal judge on Wednesday approved a $115 million settlement between American International Group Inc shareholders and former CEO Maurice "Hank" Greenberg and other defendants over alleged improper accounting at the insurance giant.
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Found 1 month ago on channel
Reuters
AIG files to dismiss part of Greenberg suit over bailout
Insurer American International Group Inc has asked a court to block Maurice "Hank" Greenberg's efforts to sue the government on AIG's behalf, saying its former CEO has not proven he should have the right to do so.
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Found 1 month ago on channel
Reuters