Afternoon Coffee: UK Retailers Confront Fake Fur Scandal, Getting a Branding Boost from Blockchain

Several major retailers in the UK are facing criticism for selling products that contained real animal fur that were advertised as synthetic, the Independent reports. Amazon, TK Maxx, Boohoo and Groupon are among the companies found to have incorrectly labeled their products.

Blockchain Brands

Blockchain may show potential as a technology that could disrupt supply chain management, but another potential benefit comes to marketing, too. As Quartz writes, two beverage companies saw huge stock gains — 500% and 200% — after renaming to brands that included cryptocurrency jargon.

US Economy

US output grew at a 3.2% annual rate in the third quarter, the Wall Street Journal reports, indicating economic momentum ahead of the passage of tax cuts. While consumer spending came in weaker than expected, the figures were still strong overall and supported by increased business investments and exports.

Durable Goods

And finally, a manufacturing update: Durable goods orders rose 1.3% in November, with strong business spending on equipment expected into continue next year.