To compensate for rising gas prices, 63% of consumers are reducing their spending, while 78% of consumers are combining shopping trips, 52% are now eating out less and 51% are staying home more often, according to a survey by The Nielsen Company that was conducted during the first week of June 2008, when regular gas averaged $3.98. Increased fuel prices are also causing 32% of consumers to use more coupons as a way to save money and 28% of consumers report doing more of their shopping at supercenters, where more items are in one store. FULL STORY
Starbucks Corp. will expand in China, even as it is closing underperforming U.S. stores, reported Bloomberg.com. "There will be more innovation, more new products, more resources, not only investment," said Wang Jinlong, the company's Greater China President. FULL STORY
A low-carb diet and a Mediterranean-style
regimen helped people lose more weight than
a traditional low-fat diet, according to research published in the New
England Journal of Medicine. However, all three approaches led to weight
loss and improved cholesterol. FULL STORY COMPLETE STUDY
The House Judiciary Committee passed the credit card
fee bill, which is backed by retailers that accuse Visa
Inc. and MasterCard Inc. of levying excessive fees, reported CNN Money. FULL STORY FMI RELEASE NRF RELEASE
EU accepts banana import compromise
The EU will accept a WTO compromise on banana
imports to relieve a long-running dispute with Latin
American and African, Caribbean and Pacific
nations, reported The Associated Press. The European Commission is ready
to cut import charges on Latin American bananas to $185 per metric ton by 2015
if all countries agree to drop further legal action. FULL STORY
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