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For 12 straight months, there was a monthly decline in the percentage of money we are saving, which, according to Standard & Poor's chief economist1 David Wyss, is pretty worrisome.
One of the basic problems in this data is that consumer spending continues to outpace income. The saving rate is now down to -1.7%. We can't continue to do that, we can't continue to leave this part beyond our means, and that means the consumer has got to slow down.
According to the Commerce Department, both personal income levels and consumer spending levels were both up in the month of May.
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Power changes and mergers2 are creating a number of new mega stores, but there is no surprise when it comes to the retailer3 who's tops on this year's Top 100 list.
Wal-Mart leads the way. It's the top retailer according to Stores Magazine. The Arkansas-based company saw a 9.5% sales gain or a little over 315 billion dollars. Two recent mega mergers caused some shuffling4 on the Top 100 list of leading US retailers5.
Since the marriage between Sears and K-Mart. Sears Holding soars to No.4 out from 9th place last year. Federated Department Stores ranked 20th in 2005 is now 14 after merging6 with May.
Liz Kennedy, CNN.
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President Bush today nominated Frederic Mishkin, currently a professor of the Banking7 and Financial Institutions at Columbia University's Graduate School of Business, to serve on the Federal Reserve Board.
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The Big Apple and Snapple are heading to court after the drink maker8 sued the city for inaccurate9 revenue projection10.
The city signed a 5-year deal in 2003 that allowed this beverage11 company to have its vending12 machines in all its buildings. They expected it to produce 36 million dollars in revenue over 5 years. Now it looks like it's going to produce 2.4 million dollars.
CNN's Andy Serwer.
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Meanwhile, French law-makers are taking a little nibble13 out of Apple computers. The legislature gave final approval to government-backed legislation which could force Apple to make the i-Pod music player and i-Tunes on-line store compatible with rivals' offerings.
With CNN Radio in the Marketplace, I'm Michelle Wright.
1 economist | |
n.经济学家,经济专家,节俭的人 | |
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2 mergers | |
n.(两个公司的)合并( merger的名词复数 ) | |
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3 retailer | |
n.零售商(人) | |
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4 shuffling | |
adj. 慢慢移动的, 滑移的 动词shuffle的现在分词形式 | |
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5 retailers | |
零售商,零售店( retailer的名词复数 ) | |
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6 merging | |
合并(分类) | |
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7 banking | |
n.银行业,银行学,金融业 | |
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8 maker | |
n.制造者,制造商 | |
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9 inaccurate | |
adj.错误的,不正确的,不准确的 | |
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10 projection | |
n.发射,计划,突出部分 | |
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11 beverage | |
n.(水,酒等之外的)饮料 | |
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12 vending | |
v.出售(尤指土地等财产)( vend的现在分词 );(尤指在公共场所)贩卖;发表(意见,言论);声明 | |
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13 nibble | |
n.轻咬,啃;v.一点点地咬,慢慢啃,吹毛求疵 | |
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