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U.S. Durable-Goods Orders Slow While Business Investment Sturdy – Yahoo Canada Finance

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U.S. Durable-Goods Orders Slow While Business Investment Sturdy

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(Bloomberg) — U.S. orders for durable goods increased in August at a slower pace than expected, restrained by declines in bookings for motor vehicles and military equipment, though a gauge of business investment rose more than forecast.

Bookings for durable goods — or items meant to last at least three years — increased 0.4% from the prior month after an upwardly revised 11.7% jump in July, Commerce Department data showed Friday. The median estimate in a Bloomberg survey of economists called for a 1.5% gain in August.

Core capital goods orders, a category that excludes aircraft and military hardware and is seen as a barometer of business investment, rose 1.8%, after an upwardly revised 2.5% gain.

The value of core business goods orders climbed to a two-year high and was boosted in August by further gains in machinery, computers and communications equipment. The figures suggest the manufacturing sector continues to rebound from its pandemic lows as companies replenish inventories, though the pace of orders growth is decelerating.

“Just as has been the case for consumer spending, business outlays for equipment have snapped back faster and more vigorously than virtually anyone could have hoped for when the lockdowns began,” Stephen Stanley, chief economist at Amherst Pierpont Securities LLC, said in a note.

Stocks fell in early trade amid an uncertain outlook for a new fiscal stimulus package, while the dollar rose.

The value of durable goods inventories fell 0.1% in August to an 11-month low of $420.5 billion, suggesting further gains in factory output.

Other manufacturing gauges have been upbeat. The Institute for Supply Management’s manufacturing index expanded in August at the fastest pace since late 2018, powered by growth in new orders. Looking ahead to September, a preliminary reading from IHS Markit showed its factory gauge rising to the highest level since January 2019.

Shipments of core capital goods increased 1.5% in August from the prior month, also exceeding forecasts, after a 2.8% gain.

At the same time, orders for motor vehicles and parts fell 4% after a 21.7% jump in July and an 85.4% surge in June. Excluding transportation, durable goods orders climbed 0.4% in August, less than expected.

As the pandemic stretches on, the airline industry remains extremely depressed. Orders for civilian aircraft and parts were negative, continuing to reflect ongoing cancellations. U.S. planemaker Boeing Co. reported eight orders in August, up from none in July, but the company has received hundreds of cancellations this year weighing on total factory output.

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Curating My Dream Room Is the Best Investment I've Ever Made—and These Are the 7 Items I Love the Most – Yahoo Canada Sports

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<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Sydney Moreano ” data-reactid=”28″>Sydney Moreano

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Here's a blurb from one of my recent soapbox rants: "I hate when people act like pillows don't matter. Pillows matter." To be clear, I wasn't talking about the kind of pillows you sleep on—though those are important, too. I was talking about decorative pillows, the kind that exist purely for looks. These are the kinds of things that a lot of straight, cisgender men in my life have often regarded as "unnecessary" or "frivolous," but I will strongly argue the opposite. The way I feel about decorative pillows is just one part of my overall design philosophy: Decor doesn’t have to be particularly practical or essential; it just has to make you happy. And if it does, that’s all that matters—and it’s worth your time and money, especially right now.” data-reactid=”29″>Here’s a blurb from one of my recent soapbox rants: “I hate when people act like pillows don’t matter. Pillows matter.” To be clear, I wasn’t talking about the kind of pillows you sleep on—though those are important, too. I was talking about decorative pillows, the kind that exist purely for looks. These are the kinds of things that a lot of straight, cisgender men in my life have often regarded as “unnecessary” or “frivolous,” but I will strongly argue the opposite. The way I feel about decorative pillows is just one part of my overall design philosophy: Decor doesn’t have to be particularly practical or essential; it just has to make you happy. And if it does, that’s all that matters—and it’s worth your time and money, especially right now.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="This is exactly why I've spent countless hours searching, both online and in person, for the perfect pieces to curate my dream room. Overall, it’s been about a three-year-long process, starting when I had my first studio apartment in college in Iowa to now, as I settle into my second apartment in Brooklyn as a working adult. Ahead of my junior year of college, when I moved into my studio, I spent the entire summer flipping through Architectural Digest magazines, bookmarking design inspiration in my browser, and scouring thrift stores for unique finds that would make the space feel like my own.” data-reactid=”30″>This is exactly why I’ve spent countless hours searching, both online and in person, for the perfect pieces to curate my dream room. Overall, it’s been about a three-year-long process, starting when I had my first studio apartment in college in Iowa to now, as I settle into my second apartment in Brooklyn as a working adult. Ahead of my junior year of college, when I moved into my studio, I spent the entire summer flipping through Architectural Digest magazines, bookmarking design inspiration in my browser, and scouring thrift stores for unique finds that would make the space feel like my own.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="On a college student, part-time hostess budget in 2017, most of my decor consisted of affordable Ikea dupes, project pieces that cost more in time than money (like a $12 nightstand I bought from an antique store and fixed up with a fresh coat of paint and some Super Glue), and things I already had collected from years prior. My one splurge item was a lamp, which I bought from Target for $80, a price that, at the time, seemed absurd for something so seemingly simple. But I fell in love with its midcentury modern style—with a clear glass globe, brass pole, and wooden stand—and I decided that it wasn’t unreasonable and was, in fact, a very grown-up choice to spend a little extra on one nice item for myself. Having this one investment piece among my eclectic mix of thriftier finds gave me a sense of pride and made me happy every time I looked at it.” data-reactid=”31″>On a college student, part-time hostess budget in 2017, most of my decor consisted of affordable Ikea dupes, project pieces that cost more in time than money (like a $12 nightstand I bought from an antique store and fixed up with a fresh coat of paint and some Super Glue), and things I already had collected from years prior. My one splurge item was a lamp, which I bought from Target for $80, a price that, at the time, seemed absurd for something so seemingly simple. But I fell in love with its midcentury modern style—with a clear glass globe, brass pole, and wooden stand—and I decided that it wasn’t unreasonable and was, in fact, a very grown-up choice to spend a little extra on one nice item for myself. Having this one investment piece among my eclectic mix of thriftier finds gave me a sense of pride and made me happy every time I looked at it.

When I graduated school and moved to New York, I wanted to “maturify” my style. I kept my favorite painting to hang above my bed and brought my big-girl lamp but swapped out my pastel Ikea pillows for velvet ones in rich jewel tones (yet another example of how big a difference decorative pillows can make). It was in the past few months, however, when I moved into a new apartment—one that I’ll hopefully be in for at least a few years—that I decided to finalize my N.Y.C. dream room.

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<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Morgan Noll ” data-reactid=”49″>Morgan Noll

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="With the pandemic keeping me inside my room more than ever before, I knew I wanted to incorporate more color and playful elements to distract from the fact that I spend five days a week working away at a desk that’s two feet away from my bed. So, I ordered an orange zebra-print rug and made an accent wall with contrasting cerulean-blue wallpaper (peel and stick, safe for rentals!) to liven up my space. This came only after my sister helped me create a photoshop mock-up of my bedroom to help see what this would look like in my room.” data-reactid=”50″>With the pandemic keeping me inside my room more than ever before, I knew I wanted to incorporate more color and playful elements to distract from the fact that I spend five days a week working away at a desk that’s two feet away from my bed. So, I ordered an orange zebra-print rug and made an accent wall with contrasting cerulean-blue wallpaper (peel and stick, safe for rentals!) to liven up my space. This came only after my sister helped me create a photoshop mock-up of my bedroom to help see what this would look like in my room.

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<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Morgan Noll ” data-reactid=”71″>Morgan Noll

Though I identify as a maximalist and love having bright pops of color and pattern in my room, I’ve also made sure to have a couple more minimal and quiet corners, like the one above, which features an Aretha Franklin poster, a vintage-inspired mirror I found on Facebook Marketplace, and a plant on a antique stand that makes me happy. Spaces like this allow my mind to feel more peaceful and decluttered.

While an antique plant stand, some bright wallpaper, and an eccentric rug may just seem like a bunch of things, choosing to put them in my room and getting to see them every day feels like an affirmation of my identity. Both when I moved into my first apartment and now, the process of curating my personal space—even just the time spent figuring out what styles I like—has become my own form of self-care.

Just as pregnant mothers “nest” for their soon-to-be babies, I felt like I was nesting for the person I want to be and the kind of lifestyle I hope to manifest.

The best part of my room is that it’s just for me. Unlike an outfit I might put together, which is inevitably affected by where I’m going and who I might see, I’ve constructed my bedroom solely for my own personal joy and comfort—and it’s something I recommend everyone takes the time to do.

To steal some of my ideas for how to decorate a bedroom, shop some components of my dream room below.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="
hellogiggles – $34 Available at Target ” data-reactid=”77″>
hellogiggles – $34 Available at Target

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="While my exact wallpaper is currently sold out, this leaf-print design is another bright and fun option for any space. Target also has over 400 more peel-and-stick wallpaper options to choose from—and at a much more affordable price than most places.” data-reactid=”78″>While my exact wallpaper is currently sold out, this leaf-print design is another bright and fun option for any space. Target also has over 400 more peel-and-stick wallpaper options to choose from—and at a much more affordable price than most places.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="
hellogiggles – $80 Available at Target ” data-reactid=”79″>
hellogiggles – $80 Available at Target

The lamp I have loved dearly for three years is still available on Target, and I promise it’s worth the price.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="
hellogiggles – $39.99 Available at Target ” data-reactid=”81″>
hellogiggles – $39.99 Available at Target

As a hot sleeper, this fan was just one of those necessary purchases, but I wanted to find something that would still fit in with my decor style. Though the blue-green color I own is out of stock, the retro-inspired fan is just as cute in white, and—somewhat more importantly—it’s effective at keeping me cool, too.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="
hellogiggles – $9.99 Available at World Market ” data-reactid=”83″>
hellogiggles – $9.99 Available at World Market

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="These pillow covers from World Market are such a steal at just $10, and if I had the room I would get them in every color. For the jumbo green versions on my bed, I bought these two 18-by-18-inch cushion covers for just $13 from Amazon.” data-reactid=”84″>These pillow covers from World Market are such a steal at just $10, and if I had the room I would get them in every color. For the jumbo green versions on my bed, I bought these two 18-by-18-inch cushion covers for just $13 from Amazon.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="
hellogiggles – $59.99 Available at Target ” data-reactid=”85″>
hellogiggles – $59.99 Available at Target

I have a thrifted circle mirror hanging above my dresser, and it adds another simple but attractive element of design and dimension to my room. Plus, it’s ideal for mirror selfies.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="
hellogiggles – $36.24 Available at Walmart ” data-reactid=”87″>
hellogiggles – $36.24 Available at Walmart

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="While this rug choice might seem a little out there, it brightens up my entire room and adds so much character to my space. The 5-by-7-foot size is currently sold out on Walmart, where I found it on sale—but it's available on Burke Decor here.” data-reactid=”88″>While this rug choice might seem a little out there, it brightens up my entire room and adds so much character to my space. The 5-by-7-foot size is currently sold out on Walmart, where I found it on sale—but it’s available on Burke Decor here.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="
hellogiggles – $42 Available at The Sill ” data-reactid=”89″>
hellogiggles – $42 Available at The Sill

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Plants are one of the easiest ways to add life (literally) to your space. The Sill, an online plant shop, makes it even easier by delivering plants to your door along with all the care information you need to know.” data-reactid=”90″>Plants are one of the easiest ways to add life (literally) to your space. The Sill, an online plant shop, makes it even easier by delivering plants to your door along with all the care information you need to know.

Whether you consider yourself a design-minded person or not, I highly recommend investing the time to curate your personal space as much as possible to support the lifestyle and identity you want to evoke. Trust me—when you do, it pays off every day.

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Amazon sees pandemic boosting holiday sales and investment in delivery – Reuters Canada

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(Reuters) – Amazon.com Inc on Thursday forecast a jump in holiday sales – and costs related to COVID-19 – as consumers continued to shop more online during the pandemic.

FILE PHOTO: The logo of Amazon is seen at the company logistics centre in Boves, France, November 5, 2019. REUTERS/Pascal Rossignol/File Photo

A company executive added that heightened spending on delivery infrastructure would likely continue over years, and shares fell 2% in after-hours trading.

Since the start of the virus outbreak in the United States eight months ago, consumers have turned increasingly to Amazon for delivery of groceries, home goods and medical supplies. Brick-and-mortar shops closed their doors; Amazon by contrast moved to recruit over 400,000 workers and earned $6.3 billion in the just-ended quarter, its second consecutive record profit.

That has kept the world’s largest online retailer at the center of workplace and political tumult. Democratic politicians this month accused Amazon of holding “monopoly power” over merchants on its platform, which the company disputes. Meanwhile, more than 19,000 of Amazon’s U.S. employees contracted COVID-19, and some staff protested for site closures.

Amazon’s response now includes an estimated $4 billion in costs related to COVID-19 this holiday, up from $2.5 billion last quarter. It is testing employees for the virus and getting protective gear for new hires. It also is working less productively because of social distancing at its warehouses, which accounts for a big part of its pandemic expense, Chief Financial Officer Brian Olsavsky said on a call with reporters.

Amazon forecast operating profit to be between $1.0 billion and $4.5 billion, short of $5.8 billion analysts were looking for, according to research firm FactSet.

Competition this holiday remains fierce for the company in retail – and in the cloud. A traditional bright spot, cloud computing division Amazon Web Services (AWS) is dueling with smaller rival Microsoft Corp for business with a big potential during the pandemic, from remote work to cloud-based gaming.

In the just-ended third quarter, AWS sales grew 29%, while Microsoft reported a 48% rise in revenue for its Azure cloud.

‘TIGHT ON CAPACITY’

Still, Amazon’s sales are shaping up to hit a record level. Jeff Bezos, Amazon’s chief executive and richest person in the world, said in a press release, “We’re seeing more customers than ever shopping early for their holiday gifts, which is just one of the signs that this is going to be an unprecedented holiday season.”

The company reported that customers in its loyalty club Prime were shopping more often, renewing their membership at higher rates and, internationally, turning to Amazon much more for video entertainment. Merchants also expanded their budgets for advertising on Amazon in the third quarter versus a contraction during the pandemic’s spring peak.

The question for some analysts has been whether Amazon’s consumer division can keep up with still-growing purchases during the pandemic.

The company has long worked to avoid a repeat of the 2013 season when delays left some without presents on Christmas Day. Amazon now handles more deliveries in house, and this year it moved its marketing event Prime Day – usually in July – to October, letting customers place holiday orders early.

CFO Olsavsky told reporters that the company is “not totally insulated” from challenges its delivery partners may be facing this quarter, though the online retailer feels ready for the holiday season.

“We do think it will be tight on capacity industry-wide, and we’re no exception to that,” he said. “It does behoove shoppers to shop early.”

Olsavsky said on a call with analysts that Amazon’s fulfillment and logistics square footage would be 50% higher this year. He said the company already has spent heavily on expanding its transport capability, part of some $30 billion in capital expenditures and leases through the third quarter. The heightened transportation investment will likely continue over years to come, he said.

For the fourth quarter, Amazon said it expects net sales of $112 billion to $121 billion. That would mark the company’s first over $100 billion and follows a third-quarter revenue beat that analysts such as eMarketer’s Andrew Lipsman did not expect.

“While it was clear that the pandemic-driven shift to e-commerce would keep Amazon’s topline elevated, it surprised by easily surpassing an already high bar,” Lipsman said.

Reporting by Akanksha Rana in Bengaluru and Jeffrey Dastin in San Francisco; Editing by Vinay Dwivedi and Grant McCool

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Cranbrook maps out investment attraction strategy for economic development – Cranbrook Townsman

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Cranbrook is eyeing a number of industrial sectors identified in an investment attraction strategy to bolster economic development over the next five years.

The strategy noted the city’s land-rich, regional focal point for the East Kootenay economy, identifying a number of existing and emerging sectors that are ripe for investment opportunities.

Those industries and sectors include renewable energy, defence, high tech, cyber security, aerospace, transportation and logistics, drones and unmanned vehicles (UAVs), Information Communications Technologies (ICT) including satellite and aerospace communication technologies, space exploration technologies, and artificial intelligence and machine learning (AI/ML).

Brad Robson and Lee Malleau, with WāVv Business Development Inc, delivered a presentation to mayor and council on Monday night, outlining the work being done in conjunction with the city’s economic development office to attract new industries to the region.

The strategy identified an action plan of concurrent progress on four pillars including business growth, investment and trade; investment readiness; regional development and marketing and communications.

“We make very explicit recommendation on how to go about doing that, supporting existing businesses, adding rigor and credibility around economic development and that leads to an improved investment environment along with key things like taking a look at your investment environment and making sure the city is investment-ready,” Malleau said.

Business retention, business expansion and investment attraction are key elements necessary to producing a successful deal flow, which was another important component of the investment attraction strategy.

The strategy also looked beyond Cranbrook by including nearby communities such as Kimberley and Canal Flats in order to maximize opportunities for the region as a near-shore destination for development.

Robson said he has been connecting with clients and potential investors through his network, noting the city’s rising profile as an opportune destination for growth and expansion.

Mayor Lee Pratt added WāVv Business Development Inc was brought in to help expand the city’s economic development network, as conversations that may ‘come to fruition’ are already underway.

“The idea was, we had to expand that network, and Brad is part of a very large network and some very influential people worldwide,” Pratt said. “We’ve had comments and conversations with some of these people that we never, ever would have had. So there are some things that have already happened along those lines that we haven’t really discussed yet.

“But like Brad said, he’s bringing the attention of these people to Cranbrook and they’re people with deep pockets. It’s good news, it just takes time to come to fruition.”



trevor.crawley@cranbrooktownsman.com

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