Redfin tests feature to let buyers bid for houses online

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Here’s the latest business headlines from Cheddar.

Victoria's Secret annual fashion show may look different this year. The CEO of L Brands says network television is no longer the right fit for the show. It has been broadcast on CBS and ABC for almost 20 years, and is a major marketing event for the lingerie retailer. This comes as Victoria's Secret has faced criticism for the star-studded fashion show because it is seen as promoting models of a specific body type. The company has also been shuttering stores in an effort to cut costs.

Real estate website Redfin is testing a feature to let buyers bid for houses online. Redfin rolled out a similar feature over a decade ago that it called the 'first online home buying service,' but it was ultimately unsuccessful. The re-vamped version is available in Boston, and only requires sellers to pay a 2% fee to the company. This is about half of the normal fee in the area.

Mother’s Day spending in the U.S. is expected to reach $25 billion this year, the highest in 16 years, according to a survey from the National Retail Federation. The average consumer is expected to spend almost $200 on presents.

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