• Dollar set for first monthly drop

    The dollar was lower on Friday and on track for its first monthly decline in 2024 after data showed U.S. inflation rose in line with expectations in April, offering little clarity on how soon the U.S. Federal Reserve will be able to cut interest rates.

    The personal consumption expenditures (PCE) price index increased 0.3% last month, the Commerce Department’s Bureau of Economic Analysis said on Friday, matching the unrevised gain in March.

  • Dollar Tree, Inc. transacts for 170 ‘99 Cents Only Stores’ – News

    Dollar Tree, Inc. (NASDAQ: DLTR) today announced that it acquired designation rights for 170 leases of 99 Cents Only Stores across Arizona, California, Nevada, and Texas. The deal was completed via two transactions in May that were approved by the United States Bankruptcy Court for the District of Delaware. As part of the transactions, Dollar Tree also acquired the North American Intellectual Property of 99 Cents Only Stores and select on-site furniture, fixtures, and equipment.

    In April, California-based 99 Cents Only Stores filed for Chapter 11 bankruptcy and subsequently initiated a process to dispose of its assets, including its inventory, owned real estate and store leases.

    “As we continue to execute on our accelerated growth strategy for the Dollar Tree brand, this was an attractive opportunity to secure leases in priority markets where we see strong profitable growth potential,” said Michael Creedon, Jr., Dollar Tree’s Chief Operating Officer. “The portfolio complements our existing footprint and will provide us access to high quality real estate assets in premium retail centers, enabling us to rapidly grow the Dollar Tree brand across the western United States, reaching even more customers and communities.”

    Dollar Tree looks forward to welcoming customers from 99 Cents Only Stores as early as fall 2024.

  • Zhou Xiaochuan’s thought on digital currency challenge the dollar

    The vice-chairman of Baao Forum for Asia, Zhou Xiaochaun, who’s also the former governor of the People’s Bank of China offers his thoughts on what the dollar is right now, and if it will be toppled as the dominant global reserve. Check out what he said regarding the use of digital currency by members of the public.

    Play the video of Zhou’s interview