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U.S. consumer sentiment hits 11-month low, inflation in focus

“WASHINGTON (Reuters) – U.S. consumer sentiment fell to an 11-month low in early August, with households expressing concerns about the rising cost of living, potentially signaling a slowdown in consumer spending” writes Midwest Communications Inc for 95kqds.com. The consumer price index increased 2.9 percent year-on-year in July, matching June’s gain, which was the largest rise since February 2012.Consumers’ inflation expectations over the next five years rose 2.5 percent early this month from 2.4 percent in July.The University of Michigan on Friday said its consumer sentiment index fell to a reading…

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Anki CEO: Consumer robots need personality to succeed

“First and foremost, unlike other “robots” like those from Sphero or even WowWee, Vector doesn’t need a smartphone to control it” writes Pete Pachal for mashable.com. Vector is another milestone for Anki, a company that’s had one of the most interesting stories in tech.After decades of lofty sci-fi-inspired promises, robots like iRobot’s Roomba vacuums and the many iterations of the Sony Aibo robodog are slowly carving out their places in our domestic lives. Source: mashable.com Share This:

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U.S. consumer sentiment drops to 11-month low in August

“The numbers: The University of Michigan said its consumer sentiment index in August fell to 95.3, down from 97.9 in July, the lowest level in 11 months” writes D C for marketwatch.com. That said, the one-year anticipated inflation rate stayed at 2.9%.The big picture: This is the first time in a while where perceptions of inflation really impacted the report.What they’re saying: “The data suggest that consumers have become much more sensitive to even relatively low inflation rates than in past decades. Source: marketwatch.com Share This:

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Crypto News 

Kin nabs 40 consumer apps for crypto developer program

“Kin Ecosystem Foundation, the nonprofit governance organization for the Kin cryptocurrency, today announced it has approved 40 developers as participants in its first Kin Developer Program” writes Dean Takahashi for venturebeat.com. Of the submissions accepted into the program, approximately 40 percent of proposed use cases plan to integrate Kin by adding a new feature into an existing consumer app. Source: venturebeat.com Share This:

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News Stocks 

Kimberly-Clark to raise prices on consumer goods, including Kleenex and Huggies

“KMB, +2.38% said it was raising prices across most of its North America consumer products businesses, in an effort to offset “significant” commodity cost inflation” writes Reporter Editor for marketwatch.com. The company said the price increases will generally be in the mid-to-high single digits percentage range on average.The price increases for Cottonelle and Viva products will occur in the fourth quarter, while most of the remaining price increases will occur in the first quarter of 2019.The stock has lost 7.9% year to date through Tuesday, while the SPDR Consumer Staples…

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remain completely disgusted with most large, incumbent operators

“But in countless parts of the country, consumers are increasingly turning to community-run broadband networks as an alternative to this cavalcade of dysfunction” reports vice.com. For example, a recent Harvard study found that community-owned broadband networks provide consumers with significantly lower rates than their private-sector counterparts. Source: vice.com Share This:

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Week Ahead: It’s All About Retail and the Consumer

“It’s all about retail and the consumer this week” writes Tracy Byrnes for thestreet.com. There are a tonsons of retail companies reporting — from Home Depot (HD) to Macy’s (M)   — and we’ve covered them all We already heard from luxury retailers, like Michael Kors  (KORS) and Louis Vuitton owner LVMH, and both companies beat expectations.Wednesday we get retail sales numbers from the Commerce Department and many are expecting them to be solid thanks to U.S. tax reform and low unemployment. Source: thestreet.com Share This:

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A Community-Run ISP Is The Highest Rated Broadband Company In America

“But in countless parts of the country, consumers are increasingly turning to community-run broadband networks as an alternative to this cavalcade of dysfunction” reports vice.com. For example, a recent Harvard study found that community-owned broadband networks provide consumers with significantly lower rates than their private-sector counterparts. Source: vice.com Share This:

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Citi is shaking up a $33 billion business — and a key banking executive is out

“Citigroup is shaking up its $33 billion consumer banking unit” writes Alex Morrell for businessinsider.com. With Selva’s promotion to the lead US role, Gonzalo Luchetti, currently head of Asia Pacific Retail Banking, will serve as interim head of Asia consumer.Citi underwent a lengthy overhaul of its entire operations following the financial crisis, in which it jettisoned noncore business lines, trimmed its corporate customer base, and scaled back on brick-and-mortar retail banking footprint. Source: businessinsider.com Share This:

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Citigroup says card chief Linville leaving in reorganization

“A Citigroup office is seen at Canary Wharf in London Thomson Reuters NEW YORK (Reuters) – Citigroup Inc said Jud Linville, head of global cards and consumer services, is leaving the bank as part of a reorganization of executives in its global consumer banking businesses” reports businessinsider.com. David Chubak, currently global retail banking head, will also oversee global branded cards and consumer lending, the bank said.Anand Selva, current head of consumer banking in Asia, will become head of U.S. consumer banking, including branded cards, digital banking and wealth management. The…

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