The bottom line
The trade war between the U.S. and China is heating up, but investors aren’t panicking. In a new Bank of America–Merrill Lynch survey, 35 percent of investors said the trade war was the biggest risk to the stock market, down from 57 percent in August. Some 31 percent said the biggest risk comes from the Federal Reserve raising interest rates.
Interest alone on the U.S. government’s rising debt reached $1.5 billion a day in 2017, according to research from the Deutsche Bank.
Walmart will pay $65 million to settle a class-action lawsuit over its lack of seating for cashiers. The settlement, which requires a judge’s approval, would cover 100,000 current and former cashiers in California who say they were made to stand on the job.
Los Angeles Times
Classic rock is still pulling in the crowds. Of the 30 highest-grossing live acts in the first half of 2018, 10 were Baby Boomer–era artists. The Rolling Stones took $100.8 million in ticket receipts worldwide; the Eagles, $84 million; and Pink Floyd’s Roger Waters, $60.7 million. Highest gross for an artist of any vintage: 27-year-old Ed Sheeran, $213 million.
While malls are on the decline, a few high-end ones remain immensely profitable. Highest sales per square foot among U.S. malls: the Bal Harbour Shops in Miami Beach, Fla., at $3,185. At that rate, if the average American’s home was turned into a luxury mall, it would sell $7.7 million a year in merchandise. Total annual sales for the Bal Harbour Shops are roughly $1.5 billion.