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J.Crew Factory opens store at Hamilton Crossing
A J.Crew Factory store opened Thursday in the Hamilton Crossing shopping center near Gunbarrel Road in Chattanooga.
“We are thrilled to welcome back this beloved store with a brand-new space,” Jason Heymann, senior marketing director for the Hamilton Place retailing complex, said in an announcement of the new store. “J.Crew Factory’s vibrant colors, wide range of options, classic styles and compelling prices make it a wonderful shopping destination for the whole family.”
Shoppers will receive a grand opening offer of $10 off purchases of $75 or more when visiting the new store through Sunday, according to J.Crew Factory.
Also, perks are offered through J.Crew Passport, the brand’s free-to-join loyalty program. Members earn points on every purchase, a $5 reward for every 200 points, a birthday surprise, early access to discounts and more.
Additional discounts are offered for teachers, college students, health care workers, first responders and military personnel.
British physicians strike for 48 hours
Hospital care across England largely came to a standstill Thursday as senior doctors launched another 48-hour strike amid an ongoing pay dispute between medics and the British government.
Thousands of hospital doctors said they will only provide emergency care, and the National Health Service warned patients to expect major disruption during the two-day strike.
Thursday’s action is the latest in a series of strikes staged by doctors, nurses and other clinical staff in recent months and part of a wave of disruptive industrial action by public sector workers to demand better pay amid the U.K.’s cost-of-living crisis.
The latest walkouts are a “massive headache” for the public health service, Julian Hartley, chief executive of NHS Providers, said, because they are timed just before the late August three-day public holiday weekend, when demand at hospital emergency departments is typically higher. That means many services will in effect be out of action for five days.
The conservative government has insisted that talks on pay are over after it said senior doctors would receive a 6% pay rise. Health Secretary Steve Barclay said the average annual earnings for senior doctors amount to $169,500 on top of a generous pension.
Turkey’s central bank hikes key rate to 25%
ANKARA, Turkey — Turkey’s central bank has raised its key interest rate by an aggressive 7.5 percentage points, in a new sign of a return to more traditional economic policies.
The bank hiked its policy rate to 25% Thursday. The bank is backtracking from a rate-cutting course set by President Recep Tayyip Erdogan that’s been blamed for inflaming a cost-of-living crisis.
Many households have been left struggling to afford rent and basic goods as inflation has surged. Central banks worldwide have been hiking rates to bring consumer price rises under control, but the Turkish central bank started cutting rates in late 2021 under pressure from Erdogan. He appointed a new economic team after being re-elected in May.
Jobless claims drop by 10,000 last week
Applications for unemployment benefits fell again last week as America’s labor market continues to hum along despite attempts by the Federal Reserve to cool the economy and bring down inflation that’s still higher than optimal. The number of Americans applying for jobless benefits fell last week by 10,000, to 230,000 the week ending Aug. 19, the Labor Department reported Thursday.
Jobless claim applications are seen as reflective of the number of layoffs in a given week. In total, about 1.7 million people were collecting unemployment benefits the week that ended Aug. 12, about 9,000 fewer than the previous week.
Shein, Forever 21 announce merger
Fast fashion retailers Shein and Forever 21 are going into business together.
Under a partnership agreement announced Thursday, the Chinese-founded Shein will acquire about one-third interest in Sparc Group, Forever 21’s operator. Sparc will also become a minority shareholder in Shein.
The deal is expected to expand Forever 21’s distribution on Shein’s global e-commerce platform, which has attracted 150 million online users. In turn, the partnership “also offers the opportunity to test” Shein product sales and returns in physical Forever 21 stores across the U.S., the companies said.
— Compiled by Dave Flessner
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