U.S. fuel survey suggests slow economic recovery
NEW YORK, Feb 10 (Reuters) – A new index using truck stop
fuel purchases to gauge future U.S. economic activity slumped
in January but its three-month moving average showed growth,
suggesting the economy is still on the road to recovery.
The Ceridian-UCLA Pulse of Commerce Index (PCI) produced by
UCLA Anderson School of Management fell 36.8 percent in January
from the previous year, after a strong increase in December.
AAA rating loses luster as agencies lose face
NEW YORK (Reuters) – The AAA credit rating, once a point of pride for leading industrial companies, has lost its luster as confidence in ratings agencies has fallen and the number of companies in its ranks has dwindled — sometimes by choice.
Some companies, including General Electric Co <GE.N> and Berkshire Hathaway Inc <BRKa.N>, lost the AAA stamp after financial losses hampered their performance.
Luxury apparel, redefined
American luxury retail has been, well, in shambles.
Since department store revenues began to plummet in September, luxury’s glossy image transformed to one that brings to mind strewn-about merchandise on a Saks Fifth Avenue floor.
Pricing structures have come under pressure as shoppers seek deep discounts, or worse, question price guidelines after aggressive reductions at the end of last year. In the spring, markdowns crept dangerously close to the start of the season. Clearly, discounts really are not what designers want their labels to be known for.
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