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U.S. consumer sentiment improved in early August to the highest in three months as sales at retailers and low mortgage rates spurred Americans to boost their buying plans, a survey showed on Friday.

Best known for its budget flat-pack furniture, Scandinavian retailer Ikea is planning to launch a chain of budget hotels in Europe. The property division of Inter Ikea - the company that owns the Ikea intellectual property rights - is planning hotels in 100 locations across Europe. The first two hotels are expected to open in Germany in 2014. Other locations earmarked for hotels include Belgium, the Netherlands, the Nordic countries, Britain and Poland.

A bevy of big-name retailers including Wal-Mart Stores Inc., Best-Buy Co. and Target Corp., are teaming up to create a company that will give customers another way to make purchases: with their cellphones.

Americans boosted their spending at retail businesses in July by the largest amount in five months, a surge that could help lift the economy out from its slump. From cars, electronics and sporting goods to furniture, building supplies and garden equipment, every major category of spending rose last month. It was a heartening start to the second half of the year after consumers had reduced their retail spending in each month of the April-June quarter.

Best Buy Co Inc founder and former Chairman Richard Schulze offered to take the struggling electronics retailer private on Monday in a deal that values the company at between$8.16 billion to $8.84 billion.

The company reported net income of $7 million, or 1 cent a share, on sales of $12.8 billion. It was less profit than analysts had estimated, but the revenue was in line with forecasts.

Online sales are soaring. State budget deficits are growing. And tax-free Internet sales are once again in the spotlight. Congress is considering bills that would “level the playing field” by allowing states to require all online merchants doing business in that state to collect sales tax. Web retailers have largely had a free ride since a 1992 Supreme Court ruling that only merchants with a physical presence in a state are responsible for collecting sales tax.

RadioShack Corp. said today that it’s eliminating its dividend to shareholders as it reported a second quarter loss. The Fort Worth-based consumer electronics retailer reported a net loss of $21 million, or 21 cents a share, compared with a profit of $24.9 million, or 24 cents a share a year ago. Total sales increased 1.2 percent from a year ago and same-store sales were flat.

Recently ousted Yahoo CEO Scott Thompson has landed a new job leading ShopRunner, an online service that provides two-day shipping from a variety of Internet retailers... ShopRunner began as part of GSI Commerce, which eBay bought for $2.4 billion last year. After that deal closed, eBay spun off ShopRunner into another company but still retains a 30 percent stake in the service.

Michaels Stores said John Menzer has resigned as CEO in order to focus on his recovery from a stroke he suffered in April.