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As the growth in the future is increasingly determined by operational efficiency rather than blind expansion, more merger and acquisition activities will help consolidate the retail landscape and make big players even stronger at a regional level before more national players emerge, said the report.

As the US House of Representatives moves to approve a 4 billion bill to replenish a small-business loan program that also includes money for hospitals and coronavirus testing, the next funding battle in Congress will be for state governments hard hit by the pandemic.

As the world witnessed a wider opening up of the Chinese economy, many US financial giants have started to expand their operations in China, such as BlackRock, Vanguard, and JP Morgan, despite harsh political rhetoric from the US side.

As the growth outlook became gloomier, emerging and developing economies are less well-positioned today to withstand a deeper global downturn, should it occur, than they were before the 2009 global recession, according to a new World Bank Group study.

As the United States celebrated Labor Day on the last three-day holiday weekend of the summer, coronavirus cases are reported to be rising in 22 of the 50 states, and one reason is the reopening of schools and colleges.