6 Most Important Things in Business Today
The European Union will tighten the screening process for foreign takeovers of companies, according to the Financial Times. Among the reasons may be a surge in China’s mergers and acquisitions, the paper reports.
Japan’s gross domestic product rose an impressive 4% in the most recent quarter. After decades of little or no growth, the data is a sign that the world’s third largest economy may be on track again.
Bitcoin prices moved above $4,000 for the first time, part of a recent surge. The value has risen by more than 20% in the last month, fueling worry about a collapse of the volatile currency.
China’s overall economic growth slowed last month. According to Blomberg:
Industrial output rose 6.4 percent from a year earlier in July, versus a median projection of 7.1 percent and June’s 7.6 percent
Retail sales expanded 10.4 percent from a year earlier, compared with a projection of 10.8 percent and 11 percent in June
Fixed-asset investment in urban areas rose 8.3 percent from a year earlier in the first seven months, versus a forecast 8.6 percent rise
The Trump Administration starts talks about NAFTA this week. The future tariff-free trade among important and exports to and from Mexico, the United States and Canada is at stake. The president has indicated he wants to kill much of the agreement. The original deal was set in 1994.
Crocs may disappear, according to The New York Post:
Crocs are in the fight of their life.
For years the plastic clog maker has been suing rivals, including USA Dawgs, which makes a lookalike clog, claiming that Dawgs and others have been infringing on Crocs’ design patent.
But late last week the US Patent and Trademark Office rejected Crocs’ patent argument, which is a major blow to the already struggling footwear company. The decision was first reported by Footwear News.
Amid declining sales, Colorado-based Crocs is closing 160 stores over the next two years, slimming down to 400 stores.