Trump said he doesn't see a recession after the bond market spooked investors and the Dow suffered its worst day of the year last week.Marketsread more
The U.K. prime minister prepares to meet his German and French counterparts this week.Europe Politicsread more
Amazon is raising seller fees for thousands of small and medium-sized businesses in France because of a new digital tax passed by the French government.Technologyread more
U.S. stock index futures point to a higher open on Monday morning as the White House sought to calm investors over growing concerns about the U.S. economy.US Marketsread more
Ahead of the deadline, U.S. President Donald Trump told reporters that Huawei was a national security threat.Technologyread more
Bianco Research's James Bianco suggests Wall Street is desperately looking for a signal that a 50 basis point cut is coming next month.Trading Nationread more
Baidu is gearing up to release its second-quarter earnings on Monday with the market expecting a sharp decline in profit.Technologyread more
Americans now say they approve of free trade by 64%-27%, a margin of better than two to one. That's up from 57%-37% early in Trump's presidency, and 51%-41% near the end of...Politicsread more
Stocks in Asia rose on Monday as U.S. Treasury yields bounced higher after plunging last week.Asia Marketsread more
The problem with tanking equities lies elsewhere, writes Michael Ivanovitch, because traders see no end to America's unfolding trade disputes with Europe and China.World Economyread more
Beijing wants to use reforms to support a slowing economy.China Marketsread more
Rent the Runway will soon offer clothing for kids, expanding the increasingly popular online rental platform beyond just apparel for women and recently the addition of home goods.
The girls' clothing will be available starting April 15, the company announced Friday. It will be for children's sizes ranging from 3Y to 10/12Y, and include items for everyday wear like tops for going to school, and dresses for special occasions like birthday parties and family photos. The kids clothing will be from 13 designer brands at launch, including Chloé, Fendi, Stella McCartney, Little Marc Jacobs and Philosophy, the company said.
"Our members have been requesting this for years," COO Maureen Sullivan told CNBC. "RTR Kids will offer a fun, practical and sustainable solution to getting the mini members of our community dressed."
The announcement comes after Rent the Runway ventured into the home business through a partnership with furniture retailer West Elm last month. It now offers home furnishings, like throw pillows and blankets, for rent on its website.
Rent the Runway also late last month received a new round of financing that increased its valuation to $1 billion. The start-up has raised $337 million to date.
With more than 10 million members today, Rent the Runway has grown more popular as a greater number of women find it appealing to swap out their clothes and accessories each month — or even as frequently as each week — to avoid only buying something to wear just once or twice and then leave it sitting in a closet. With a Rent the Runway membership, shoppers can try new brands and avoid repeating outfits, with monthly plans costing $89 and $159, depending on the frequency of exchanging items.
Meanwhile, the kids clothing industry today is ripe with change.
Apparel retailer Gymboree filed for Chapter 11 bankruptcy protection earlier this year and will be shutting hundreds of stores. The Children's Place in 2017 said it planned to close 300 locations by 2020. That disruption has opened the door for start-ups like online-based kids clothing retailer Rockets of Awesome to grow, targeting younger moms.
Rent the Runway also on Friday announced it will now allow its members to rent more items at once. Shoppers will be able to purchase extra "slots" to take out clothes or home goods at any given time, Rent the Runway said — for either $25 or $39 extra per month, depending on the membership plan.