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The Week in Review for July 25th 2016

Week in Review
August 4, 2016 3:00 PM

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The Week in Review for July 25th 2016, a look at business news you may have missed. 

 


Wall Street Wrap-up

The Dow Jones, saw more gains and more record highs, find out the daily review for it along with S&P 500 and Nasdaq during the week of July 18th.

Despite its stock market being one-hundredth the size of mainland China, Pakistan has managed to qualify for the popular MSCI Emerging Markets Index while its larger Asian neighbor, China, has been left out in the cold.    

It is a tough time to be a saver these days.  It would take 107 years for bank customers to double their money using a one year US deposit account like a certificate of deposit, BUT there are nations around the world where it would take over 6,000 years to double it. 

Reports and Announcements

Sales of previously owned homes rose to their strongest pace in nearly a decade in June, buoyed by low mortgage rates and an improving economy. 

U.S. businesses paid higher prices for a range of goods and services in June, the latest sign that a rebound in oil prices and a tightening labor market are pushing up inflation. 

The Middle East is back as the world’s dominant oil-producing region, a report said, churning out its biggest chunk of global output since the 1970s and giving OPEC an edge in its fight for market share.

A Look Around the Nation and the World

China’s steel juggernaut isn’t taking a rest.  Contributing to a global glut, the country churned out steel at a record daily pace in June. 

US retailers are staring at an abyss.  And they apparently aren’t doing one of the few things within their power to avert disaster, or at least not fast enough.    

The popularity in the US of a silver coin emblazoned with a kangaroo has caught the Perth mint by surprise, prompting one of the world’s largest mints to accelerate an expansion to meet demand among American investors and collectors.


Michigan News

Michigan's jobless rate dipped to 4.6 percent in June, a slight drop from May but the lowest in 15 years. 

Now that unemployment is beneath 10-year lows, 4.6 percent in Michigan and 5.7 percent in metro Detroit in May, and labor force participation remains stagnant. The region is approaching a labor shortage — one that could only going to get worse.

Venture capital spending was up sharply nationwide in the second quarter, but it was off in Michigan as state investors pulled back from what been had reportedly been a gangbuster 2015.     

A Look Ahead

A handful of startups are trying to solve one of the more vexing problems in e-commerce: how to deliver a package to a home or office that doesn’t have an address. 

A top U.K. defense contractor believes that drone-boat shipping will become a reality within three years. 

Keeping shoppers in their stores longer and getting them to spend more while they are there. Grocers have begun serving alcohol and been turning themselves more into restaurants, adding extensive prepared-food counters, full-service catering and bustling seating areas where shoppers can grab a quick meal.

For more knowledge, news, and insights visit:

www.michiganbusinessnetwork.com

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Week in Review, hosted by Dr. David Mielke, covers the previous and coming week’s business stories and stock market news while discussing how these events will impact the business world – encouraging you to form opinions on this week’s topics.

12:00 PM every Monday
Replay: 6:00 PM, 12:00 PM, 6:00 AM

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