Core retail sales plummeted 1.7% in December, the most in nearly two decades.
Blame the December stock market chaos. Or the beginning of the government shutdown. Or even “glitches” in the data, as White House economic adviser Larry Kudlow did last week.
No matter the cause, the apparent abrupt shift in spending sent economists scrambling to mark down their forecasts for growth. Goldman Sachs trimmed its fourth-quarter GDP estimate to 1.9%. Bank of America slashed its forecast to 1.5%.
Papua New Guinea has the highest number of spoken languages in the world. There are 820 indigenous languages spoken in this country. The official language is Tok Pisin, or New Guinea Pidgin, and is the most widely spoken language after English, a legacy of the colonial period.
In the wild, giraffes almost never lie down because of vulnerability to predators. They usually sleep standing, sometimes sitting, and they give birth standing up. When giraffes sleep, they curl their necks and sleep for about five minutes at a time, sleeping no more than 30 minutes a day.
The original alphabet was developed by a Semitic people living in or near Egypt.* They based it on the idea developed by the Egyptians, but used their own specific symbols. It was quickly adopted by their neighbors and relatives to the east and north, the Canaanites, the Hebrews, and the Phoenicians.
By one year of age, that amount drops to about 65%. In adult men, about 60% of their bodies are water. However, fat tissue does not have as much water as lean tissue. In adult women, fat makes up more of the body than men, so they have about 55% of their bodies made of water.
Fintech startup Robinhood Financial LLC today announced that customers can sign up for access to a Checking & Savings product, which will be available as part of their free-trades brokerage services. The company makes money primarily from interest on customer cash balances.
Upon logging in to the app, customers are now greeted with an invitation to apply for the banking capabilities. The accounts pay a 3% annual interest rate, which is certainly a loss leader at the present time, and there are no fees for the customer.
Robinhood says it can offer the high rate of interest due to splitting the revenue it receives from MasterCard whenever a debit card is used.
A Moscow district court has ordered the detention of the founder and senior partner of Baring Vostok private equity, as part of an ongoing inquiry into fraud allegations. Other employees were also taken into custody.
Michael Calvey, a US citizen, was detained in the Russian capital on Friday along with other Baring Vostok associates, Vagan Abgaryan, Philippe Delpal, and Ivan Zyuzin, the firm said in a statement. It said the arrests have nothing to do with the company’s activities but relate to a dispute around Russia’s Vostochny Bank.