Morning Business Report: Toys R Us gets new owner
Morning Business Report
March 16, 2021
The Federal Reserve will meet today and tomorrow and will have to find a balance between an improving economy and parts of it that are still weak.
No change in interest rates is expected from this week’s meeting but the Fed may talk about things down the road, especially if prices rise dramatically—inflation.
Toys R Us has a new owner.
WHP Global announced it has acquired a controlling interest in Tru kids, the parent company of Toys R Us and Babies R Us.
It plans to open a number of Toys R Us stores again in the U.S., ideally ahead of this holiday season.
The Dow and S & P 500 hit new highs.
Reopening stocks, like airlines, were strong.
U.S. imports of handguns and long guns surged by 60% in 2020 compared to the previous year and supplied more than a quarter of the nation’s demand for firearms.
That’s according to small arms analytics and forecasting.
Most of the firearms came from Turkey but also Brazil and Austria.
3.5 million munitions were imported in 2020 and largely came from Russia.
The workday grew almost 80 minutes longer in 2020 — but workers were 200 percent more productive.
Prodoscore says the typical white-collar workday during the pandemic day averaged from 7:46 a.m. to 6:12 p.m