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Tag: consumer

Consumer Sector Update for 01/11/2018: FNKO, TGT, POST, DAL, LULU, WMT

Consumer Sector Update for 01/11/2018: FNKO, TGT, POST, DAL, LULU, WMT

Finance
Shutterstock photoTop Consumer StocksWMT, +0.28%MCD, -0.32%DIS, +1.1%CVS, +1.85%KO, -0.29%Consumer stocks were ending the regular session broadly split between winners and losers, with shares of consumer staples companies in the S&P 500 ( XLP ) rising about 1.4% this afternoon while shares of consumer discretionary firms in the S&P 500 ( XLY ) were riding a 1.4% advance.In industry news:Walmart ( WMT ) traded higher for the first time in three days Thursday after the company said it was increasing its starting wage to $ 11 per hour as well as giving eligible employees a one-time, $ 1,000 bonus and extending its maternity leave.Also today, growth in global auto sales is expected to slow during 2018 from their record-breaking pace seen in 2017, according to a new IHS Markit foreca...
Hotel booking sites probed by consumer watchdog

Hotel booking sites probed by consumer watchdog

Business
Hotel booking sites are to be probed by the UK's competition watchdog to see if consumers are being misled by them.The Competition and Markets Authority is concerned that rather than helping consumers, the sites might actually be making it more difficult for them.The CMA said it was "concerned about the clarity, accuracy and presentation of information on sites".The investigation will examine areas such as hidden charges, search results, and discount claims.Leading booking sites include Expedia and Booking.com. In a statement, booking site Trivago, which is majority owned by Expedia, said: "Trivago will work with the CMA to explain the benefits it delivers to consumers looking for their ideal hotel."Booking.com said it would not be commenting at this time.According to the CMA, about 70% of...
Gurugram homebuyers to move consumer court against Haryana RERA

Gurugram homebuyers to move consumer court against Haryana RERA

Finance
Gurugram: A group of homebuyers, unhappy with the provisions of Haryana’s Real Estate Regulation Act (Rera), are planning to knock on the doors of the National Consumer Disputes Redressal Commission (NCDRC) to protect their interests. The buyers, who have invested in various ongoing real estate projects across Gurgaon, have already lodged several complaints with the Haryana government, expressing serious concerns over the “dilution” of the central Act. They alleged that the state Act, though was touted as a tool for safeguarding the interests of homebuyers, ended up being largely tilted in favour of developers. Citing an example, Prakhar Sahay, a homebuyer, said a Mumbai-based developer had been delaying the process for giving possession at a project at Sector 95 for the past seven yea
Lenders must prove consumer credit protections

Lenders must prove consumer credit protections

Business
The Bank of England has handed UK lenders a deadline to show they are adequately protected against consumer credit risks as borrowing continues to soar.While its Prudential Regulation Authority (PRA) - which has powers to force credit curbs on banks - did not outline any new rules, it said lenders would have until September to demonstrate they had not overstretched themselves.Banks have been keen to lend because their profits have been under pressure from record low interest rates.The PRA's review of the consumer credit market was released just a week after the Bank reintroduced so-called countercyclical capital buffers to ensure banks have reserves to cope with any economic slowdown or sudden shocks.The Bank had reduced the buffers to zero last July after the Brexit vote in a bid to maint...
Consumer caution sees lending growth slow

Consumer caution sees lending growth slow

Business
Consumer borrowing growth slowed and mortgage approvals slipped further last month according to new figures from high street banks, adding to signs of a wider slowdown.The British Bankers' Association (BBA) pointed to the run-up to the election as a factor as it said consumer credit grew by 5.1% in May, down from 6.4% the previous month.It was the weakest increase since October 2015 and was partly driven by a slowdown in credit card borrowing reflecting worsening retail sales.Erik Leenders, BBA managing director for retail banking, said: "This month's figures show that in the run-up to the general election, credit growth in personal loans, cards and overdrafts has slowed, which was reflected in lower spending."Weak consumer spending has already helped UK economic growth drop to just 0.2% ...