Forever 21, once a fast-fashion powerhouse with over 800 global locations, is now asking for a 50% rent reduction from landlords due to declining sales and fierce competition. The company’s failure to adapt to changing consumer trends and manage its inventory efficiently has led to its current predicament. Despite its financial woes, Forever 21 has
Potential
The construction of built-for-rent single-family homes is on the rise in the United States, with the National Association of Home Builders attributing this trend to the housing affordability crisis. As mortgage rates increase and buying a home becomes more challenging, renting is becoming a more viable option for individuals. According to Robert Dietz, chief economist
Recently, the Supreme Court made a decision on a federal tax challenge involving certain foreign investments. The case in question, Moore v. United States, centered around a Washington state couple who faced taxes due to a one-time levy on earnings and profits in foreign entities. This levy, known as the “mandatory repatriation tax,” was enacted
China has been a major player in the development of the electric car industry, having invested a substantial $230.8 billion over more than a decade. This investment has accounted for 18.8% of total electric car sales between 2009 and 2023. However, the scale of government support has been on the decline, dropping from more than
The box office has been missing a vital component – family-friendly films. Despite a few successful hits like “Super Mario Bros.,” the absence of consistent family entertainment has been noticeable. Many family movies either opted for streaming debuts due to the pandemic or were spaced too far apart in release dates to create any significant
The ratings agency Fitch has adjusted its forecast for China’s policy rate cuts, now anticipating that a reduction will not occur until next year. This change in outlook comes as a result of the U.S. Federal Reserve maintaining high interest rates, which has implications for global monetary policy decisions. Fitch’s latest projection suggests that China
British fintech firm Zilch made headlines by securing a remarkable $125 million in debt financing from Deutsche Bank, a move that is set to revolutionize its growth trajectory. The deal, structured as a securitization, will not only triple the company’s sales in the next few years but also pave the way for a potential initial
Warren Buffett’s Berkshire Hathaway has been on a buying spree when it comes to shares of Occidental Petroleum. In fact, over the past nine trading sessions, Berkshire has been consistently increasing its stake in the Houston-based oil and gas producer. This recent surge has brought Berkshire’s holding to almost 29%, making them the largest institutional
Boeing CEO Dave Calhoun is set to address a Senate panel about the company’s imperfect culture as fresh whistleblower claims come to light just before the scheduled hearing. Calhoun acknowledges that Boeing’s culture is far from ideal, but efforts are being made to address and rectify the issues. The company has been under scrutiny since
Xreal, an Alibaba-backed startup, has introduced the Beam Pro device, revolutionizing the augmented reality (AR) experience for users. The Beam Pro serves as a bridge between AR glasses and Google Play Store apps, offering a virtual mouse-like functionality that opens up a world of possibilities for gaming, movie streaming, and social media interactions. With the