BEIJING—The Shanghai government will support companies applying for approval to sell duty-free goods, and encourage duty-free shops to be set up at airports, hotels, malls and other commercial venues, municipal authorities said. The development of a “duty-free economy,” which will encourage spending on imported products, including heavily-taxed luxury goods, was outlined in a 2021–2025 consumption…
US Consumer Sentiment Steadies in September After August Plunge: Umich
U.S. consumer sentiment steadied in early September after plunging the month before to its lowest level in nearly a decade, but consumers continue to have a bleak view of the outlook amid a stiff bout of inflation, a survey showed on Friday. The University of Michigan said its consumer sentiment indexedged up to 71 in…
UK Consumer Price Inflation Jumps to Highest Level in 9 Years
Britain’s consumer price index (CPI), a measure of inflation, jumped to 3.2 percent over the year in August, the highest level in nearly a decade. The UK’s Office for National Statistics (ONS) disclosed the CPI figures in a Sept. 15 release, in which the agency said the inflationary spike is likely temporary, driven up mostly by…
Google Says It Offers More Than $10 Billion in Consumer Benefits in South Korea
September 15, 2021
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SEOUL—Alphabet Inc.’s Google said on Wednesday its presence in South Korea equates to nearly 12 trillion won ($10.16 billion) in economic benefits for its users, as the U.S. tech giant faces increased scrutiny from regulators and politicians. Google’s announcement came a day after South Korea’s antitrust agency fined Google 207 billion won for blocking customised…
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