 |
|
|
|||||
President Donald Trump signed an executive order on Thursday that opens the door to allowing alternative assets like cryptocurrencies, private equity, and real estate into 401(k) retirement accounts. Here’s what to know. What does the executive order say? The executive order gives the Secretary of Labor 180 days to review the guidelines that determine the rules for 401(k)s under the Employee Retirement Income Security Act of 1974, known as ERISA. In short, the order calls for the Labor Department to clarify its position on alternative assets. (Under ERISA, employers have a fiduciary responsibility to ensure 401(k) investments are both prudent and don’t have onerous fees.) As Fast Company previously reported, during Trump’s first term, the Department of Labor issued a letter suggesting private equity options could be included in 401(k) and 403(b) defined-contribution plans as part of a target-dated fund or other managed fund. Why is this concerning for 401k holders? Traditionally, private market assets haven’t been included in 401(k)s, for the most part because their “high fees, lack of transparency, and longer lockup periods make them riskier investments,” according to CNBC. However, they have made their way into pension funds and university endowments. Why is this a big win for fund managers? This could give fund managers access to a staggering $12 trillionyes, trillionand create a new source of funding besides traditional stocks, bonds, and cash, per The Guardian. Who stands to benefit the most from the order? Trumps executive order is yet another example of this administrations support of cryptocurrencies and push to loosen the regulation around digital currencies. Not surprisingly, the prices of some cryptocurrencies are up today on the news. By early afternoon on Friday, the price of Ether (ETH) jumped over 4%. Bitcoin (BTC), which jumped 1% on Thursday on the news, was down slightly by less than 1%. Meanwhile, stock in Robinhood (HOOD), which offers crypto products, was up 4.5%.
Category:
E-Commerce
In the early 2000s, it was hard to pass through any major suburban center and not cross a Bed Bath & Beyond. The home retail stores were ubiquitous back then and so popular that one of the brands locations featured as a major plot point in the 2006 Adam Sandler comedy Click, which grossed nearly a quarter billion dollars worldwide. But in the nearly two decades since then, Bed Bath & Beyond suffered the same challenges many major retailers have experienced: declining foot traffic, a shift in consumer shopping habits from physical to online stores, and rising costs due to inflation. The once ubiquitous chain ended up going bankrupt in 2023 and subsequently closed all its stores. Now, however, one of those stores is back from the beyondand it’s even accepting old Bed Bath & Beyond coupons. Heres what you need to know. BBB is back from the beyond Shortly after Bed Bath & Beyond filed for bankruptcy in 2023, online shopping giant Overstock.com acquired the former retailers name and rebranded itself as Bed Bath & Beyond. And now, Overstocks owner, The Brand House Collective, Inc., has announced it will open its first physical Bed Bath & Beyond store again. However, fans of the brick-and-mortar retailer shouldnt get their hopes up for a nationwide revival. As of now, The Brand House Collective has only announced plans to open one Bed Bath & Beyond. One. The company also announced that the store would feature a slight name change. Instead of being known as Bed Bath & Beyond, the new store will be called Bed Bath & Beyond Home, likely to hammer home the point that the store is a home goods outlet. Announcing the new store opening, Amy Sullivan, CEO of The Brand House Collective, said, “We’re proud to reintroduce one of retail’s most iconic names with the launch of Bed Bath & Beyond Home, beautifully reimagined for how families gather at home today. She continued, “This isn’t just a store, it’s a fresh start for a brand that means something special to so many families. With Bed Bath & Beyond Home we’re delivering on our mission to offer great brands, for any budget, in every room. Get your (old) coupons ready The Brand House Collective has also chosen to implement a unique marketing gimmick for Bed Bath & Beyonds physical revival: the new store will accept old Bed Bath & Beyond coupons. One of the big draws of former Bed Bath & Beyond stores was that they often offered customer coupons that could lead to significant deals and discounts. For the grand opening of the new store, customers with those old coupons will be able to use them again. We encourage guests to bring in their legacy Bed Bath & Beyond coupons which we will gladly honor, the company said in its press release. It also confirmed the new store will issue new coupons to guests as well. Where and when does the new Bed Bath & Beyond open? The new Bed Bath & Beyond location opens today, Friday, August 8, 2025 in Nashville, Tennessee. As for The Brand House Collective, its unlikely the opening of the new physical store will do much for its bottom line. The companys stock (Nasdaq: TBHC) is currently trading down 3.1% as of the time of this writing to $1.21 per share. Year to date, TBHC stock is down nearly 25%. Over the past twelve months, TBHC is down nearly 20%.
Category:
E-Commerce
Under President Donald Trump‘s leadership, the United States has withdrawn from international negotiations and commitments, particularly around climate. But the U.S. is very much involved in treaty talks for a global accord to end plastic pollution. Nations kicked off a meeting Tuesday in Geneva to try to complete a landmark treaty over 10 days to end the spiraling plastic pollution crisis. The biggest issue is whether the treaty should impose caps on producing new plastic, or focus instead on things like better design, recycling and reuse. About 3,700 people are taking part in the talks, representing 184 countries and more than 600 organizations. Here is a look the U.S. position: Why is the US participating in the negotiations? Hours after he was sworn in to a second term, Trump pulled the U.S. out of the landmark Paris agreement to combat global warming. The United States didn’t participate in a vote in April at the International Maritime Organization that created a fee for greenhouse gases emitted by ships, or send anyone to the U.N. Ocean Conference in June. Some wondered whether the United States would even go to Geneva. The State Department told The Associated Press that engaging in the negotiations is critical to protect U.S. interests and businesses, and an agreement could advance U.S. security by protecting natural resources from plastic pollution, promote prosperity and enhance safety. The industry contributes more than $500 billion to the economy annually and employs about 1 million people in the U.S., according to the Plastics Industry Association. This is a historic opportunity to set a global approach for reducing plastic pollution through cost-effective and common-sense solutions and fostering innovation from the private sector, not unilaterally stopping the use of plastic, the department said in an email. What does the US want in the treaty? The State Department supports provisions to improve waste collection and management, improve product design and drive recycling, reuse and other efforts to cut the plastic dumped into the environment. The International Organisation for Economic Co-operation and Development estimates that 22 million tons of plastic waste will leak into the environment this year. That could increase to 30 million tons annually by 2040 if nothing changes. The OECD said if the treaty focuses only on improving waste management and does nothing on production and demand, an estimated 13.5 million tons of plastic waste would still leak into the environment each year. What does the US not want in the treaty? The United States and other powerful oil and gas nations oppose cutting plastic production. Most plastic is made from fossil fuels. Even if production grows only slightly, greenhouse gas emissions emitted from the process would more than double by 2050, according to research from the federal Lawrence Berkeley National Laboratory. The U.S. does not support global production caps since plastics play a critical role throughout every sector of every economy, nor does it support bans on certain plastic products or chemical additives to them because there is not a universal approach to reducing plastic pollution, the State Department said. Thats similar to the views of the plastics industry, which says that a production cap could have unintended consequences, such as raising the cost of plastics, and that chemicals are best regulated elsewhere. What has the US done in Geneva so far? On the first day of the negotiations, the United States proposed striking language in the objective of the agreement about addressing the full life cycle of plastics. That idea was part of the original mandate for a treaty. Getting rid of it could effectively end any effort to control plastic supply or production. Under former President Joe Biden’s administration, the U.S. supported the treaty addressing supply and production. What are people saying about the US position? Industry leaders praised it and environmentalists panned it. Chris Jahn, president and CEO of the American Chemistry Council, said the Trump administration is trying to get an agreement that protects each nation’s rights while advancing effective and practical solutions to end plastic waste in the environment. He said his group supports that approach. Graham Forbes, head of the Greenpeace delegation in Geneva, said the United States wants a weak agreement and is undermining the idea that the world needs strong international regulations to address a global problem. Does the US think the world can agree on a treaty that will end plastic pollution? The United States aims to finalize text for a global agreement on plastic pollution that all countries, including major producers of plastics and plastic products, and consumers, will support, the State Department said in its statement. ___ The Associated Press climate and environmental coverage receives financial support from multiple private foundations. AP is solely responsible for all content. Find APs standards for working with philanthropies, a list of supporters and funded coverage areas at AP.org. Jennifer McDermott, Associated Press
Category:
E-Commerce
All news |
||||||||||||||||||
|
||||||||||||||||||