1) The trade war continues to escalate as China takes action against American companies operating in China proper. China is levying fines on Ford’s joint venture for antitrust violations. Changan Ford Automobile Co. will be fined $23.6 million dollars for restricting retailers sale prices. Fed-Ex has recently come under Chinese scrutiny for ‘wrongful’ deliveries. China has threaten to blacklist foreign firms which damage domestic companies’ interests. Chinese citizens are being warned against travel to America, thereby restricting income from tourism and business reaching America.
2) The video game retailer GameStop, with over 5,700 retail outlets, is in decline, and was the place to go to buy video games and virtual reality products. But their sales have been in significant decline, with attempts to use e-commerce to counter the downward slide being of no help. Their forecast for next year show little improvement to its deteriorating business as their business migrates over to Amazon.
3) Bernie Sanders has made good his promise to take his fight for the common worker to Walmart’s annual stockholders meeting, to demand that Walmart workers be given a place on their board of directors. He introduced a shareholder proposal which would make roughly 1.5 million hourly workers eligible for board nominations. Sanders’ consider this move a way to separate himself and his policies from the democratic presidential nomination pack. Walmart is one of the huge American retailers pushing for new robotic technology to use in their stores.
4) Stock market closings for 5 JUN 19:
Dow 25,539.57 up 207.39 Nasdaq 7,575.48 up 48.36 S&P 500 2,826.15 up 22.88
Approx. 13 of the 18 casino’s operating in Puerto Rico are restored; after the devastation that rocked the US island that houses close to 4 million people. Department of Tourism in Puerto Rico, has indicated that cruise and hotel accommodations are nearly restored, insisting that cruises have started departing in and out of ports and harbors.
It’s highly interesting to say the least because more then 85% of the general populace in Puerto Rico is without power and electricity, so the tourism aspect of this revelation is somewhat surprising. Puerto Rico’s tourism accounts for more then $2 billion annually toward the island’s revenue, so at the same token if tourism can get up to speed in production, travelers may revel to tour Puerto Rico, as they have done before Hurricane Maria occured.-SB
The world has reacted to the death of Fidel Alejandro Castro Ruz.
Friday evening into Saturday, world leaders, people around the world, Cubans and Cuban Americans gave their own interpretations and reactions to the man who ruled Cuba for close to 50 years, Fidel Castro. -SB
Dominican Republic economic development is booming and the island/country has alot to be proud of in its economic accomplishments. Tourism has played a key factor in Dominican Republic’s emergence and dominance. The last couple years the island has seen a 7% percent increase in its GDP.
Dominican Republic’s GDP figures show an evasive increase in industries such as construction, tourism, hospitality, and banking. Revenue coming into Dominican Republic has topped $23 billion and much of that has to be accounted from foreign investors who are heavily pouring in capital to this progressive country.
Economic and financial hardships still plaque this diverse island, just like many other countries, such as economic and employment and less increases for wages for private employees and government employees, still Dominican Republic are making progresses by putting in place tools and structures to help everday dominicanos and dominicanas respectively. -SB