Executive Summary

• This week’s note “From the Desk of Deborah Weinswig” offers a review of WeChat, a communication, connection and commerce ecosystem.
• The US Commerce Department said that US retail sales fell by 0.2% last month, weighed down by declines in receipts at service stations, clothing stores and supermarkets.
• German retailer Metro Group has demerged into two separate companies, Metro and Ceconomy, a move that was decided in February. Metro Group’s current shareholders will receive shares in each of the two new companies.
• WeWork is gearing up to launch its coworking spaces in Japan, thanks to a joint venture with SoftBank. As part of the arrangement, SoftBank and WeWork will each own 50% of the joint venture, which will be called WeWork Japan.