A report released Monday by the Commerce Dept. said that March consumer spending in the U.S. advanced more than forecast – rising 0.2% after a 0.7% increase in February.
Giving a much-needed boost to J.C. Penney Co., George Soros’ Soros Fund Management bought 17.4 million shares of the troubled retailer, according to a filing with the Securities and Exchange Commission.
The U.S. Senate voted to move forward with the Marketplace Fairness Act, legislation that would allow states to force retailers to collect online sales taxes, if the states choose to do so.
Starbucks Coffee Company reported that its second-quarter profit rose 26% to $390.4 million, up from $309.9 million last year, amid sales increases in the Americas and Asia regions.
