Fed Chairman Jerome Powell faces the tough challenge of presenting a unified voice on Fed policy from the most divided Fed in years.Market Insiderread more
Boris Johnson will be meeting President Donald Trump to discuss a potential post-Brexit trade deal just as he tries to court EU leaders for a new withdrawal agreement.World Politicsread more
U.S. Secretary of State Mike Pompeo says Huawei CFO Meng Wanzhou, who is under house arrest in Canada and facing extradition to America, is not a bargaining chip in the trade...Technologyread more
Arturo Estrella has a message for recession naysayers: It could hit sooner than you think.Marketsread more
Accountants in Hong Kong took to the streets on Friday to call for the government to accept five demands of the people, including the complete withdrawal of a now-suspended...China Politicsread more
Recent trade friction between the two Asian powerhouses has morphed into a dispute with political implications that go far beyond the region.Asia Politicsread more
Local governments commonly share single service providers, making many vulnerable at once. On top of this, ransomware has often been used to mask more targeted, malicious...Technologyread more
The unlikely alliance would in theory enjoy a relatively comfortable majority in the parliament's lower house but would rely on a handful of sympathetic but unaligned...Europe Politicsread more
Bank Indonesia on Thursday cut its key policy rate by 25 basis points to 5.5% to support growth amid an increasingly fragile global economy.Central Banksread more
Meanwhile, investors look ahead to Fed Chair Jerome Powell's speech at a yearly central banking symposium in Jackson Hole, Wyoming.Asia Marketsread more
The U.S Energy Information Administration (EIA) says Australia is on track to consistently export more LNG than Qatar.Oil and Gasread more
The solution for dwindling mall traffic may not be as elusive as retailers once thought. They may just need the help of some furry friends.
The rapid takeoff of "Pokemon Go," a mobile gaming app that fuses the digital and physical worlds, "has the power to transform retail," Cowen & Co. analyst Oliver Chen told investors Thursday.
"In our view, the new free-to-play [augmented reality] gaming app has broad implications for retail as it addresses declining mall traffic, plus emerging trends toward social experience and health [and] wellness," Chen said in a research note.
That is, of course, if players can take their eyes off the screen long enough to browse the racks. But beyond simply bringing shoppers into malls and other physical stores, where players can collect rewards at so-called Pokestops, the app's popularity is the first time augmented reality has taken off en masse.
That could have broader implications for retailers, who are trying to find new ways to engage with shoppers and build brand loyalty. Traffic at bricks-and-mortar stores declined 3.3 percent in June, according to Cowen, but Amazon on Tuesday rang up its largest sales day in history during its second Prime Day event.
Of course, online shopping still accounts for less than 10 percent of overall retail sales. But as retailers' experiments with augmented reality have been slow to take off, "Pokemon Go" offers a real-world example of how they can drum up excitement in their stores — and get shoppers off the couch.
The game "illustrates how augmented reality could potentially play a more significant role in retail over time," Chen said.