Morning Business Report: Trump threatens to cut trade with Spain as Target invests billions to refresh stores
New economic developments are unfolding globally and on Wall Street as trade tensions rise and major retailers invest.
(LILAMAX)- President Donald Trump says the United States could cut all trade with Spain amid a dispute over military bases and defense spending.
The disagreement centers on U.S. military operations at bases in southern Spain. The United States recently relocated 15 aircraft, including refueling tankers, from the Rota and Morón air bases after Spain’s socialist government said it would not allow the facilities to be used for attacks on Iran.
Spain has also drawn criticism from the Trump administration for failing to meet the five percent defense spending target expected from members of North Atlantic Treaty Organization, further straining relations between the two countries.
Meanwhile, major changes are underway in the retail industry. The CEO of Target Corporation says the company plans to invest billions of dollars to refresh stores, adjust merchandise strategies and hire more workers.
The company is currently leaning into Western-inspired fashion trends, featuring items such as cowboy hats, fringe jackets, embroidered jeans and bags. Executives say the strategy will remain flexible, with product lines shifting every four to six weeks to keep up with changing consumer trends.
By June, Target plans to refresh about 75 percent of its home décor inventory, including items like pillows, bedding, candlesticks and vases. The retailer is also introducing a new “Beauty Studio” prestige cosmetics collection in roughly 600 stores, with a loyalty component expected to launch later.
On Wall Street, markets saw a volatile trading day. The Dow Jones Industrial Average closed down about 400 points after being down as much as 1,200 points earlier in the day. Investors are closely watching tensions in the Middle East and concerns about potential disruptions to the Strait of Hormuz shipping route.
In the travel industry, Vail Resorts announced it is cutting the price of next year’s Epic Pass by 20 percent for younger customers. The company says the move is designed to make skiing more accessible while encouraging early purchases ahead of the next winter season.
Meanwhile, a new survey highlights the rising cost of wellness. Research involving 2,000 women between the ages of 20 and 50 found the average woman spends about $1,639 each year on health and hygiene needs. The study found 61 percent of respondents feel they cannot keep up with those expenses, often forced to choose between financial stability and personal wellness.
Researchers say many women estimate nearly a quarter of their paycheck goes toward wellness-related expenses, highlighting the financial pressures tied to maintaining personal health.
