Here’s how much you’d have had to invest in Amazon 10 years ago to be a millionaire today
In the last decade, the biggest change in the U.S. economy has been the rapid adoption of e-commerce. Once considered a mere curiosity, digital is quickly becoming the preferred shopping method for many Americans. Partially fueled by the pandemic, retailers that invested in the digital channel are reporting tremendous growth, and holdouts are being forced…
Will consumer demand outstrip supply in the U.S. running up to Christmas?
In this week’s Business Line, we look at how consumers in the U.S. may not get much in the way of promotions and discounts as demand is set to outsrip supply in the retail sector. We also report on Taiwan’s hope for an economic recovery in its final quarter of 2020, as its main export…
New York City business leaders: Trump should allow transition to Biden administration
More than 150 New York City business leaders are urging President Trump to acknowledge Joe Biden’s victory in the presidential election and allow for a transition of power to begin for the sake of the U.S. democracy. Trump’s protracted battle against the presidential election results – and challenging of vote counts in several states – is damaging to the…
What a vaccine means for assets that aren’t stocks
Widespread distribution of a safe and effective Covid-19 vaccine next year is poised to be a game changer for markets, and Wall Street is trying to get ahead of the curve. What’s happening: Investors aren’t just preparing for a rally in US stocks that came under pressure during the thick of the pandemic. They’re also gearing up for…
Snickers parent to buy Kind Bars for $5B
Mars announced that it is acquiring Kind North America, the maker of Kind bars, in an effort to expand the partnership that started three years ago. Mars, which makes Snickers, Milky Way bars, M&M’s and other candy bars, is acquiring the company for approximately $5 billion, according to the New York Times, which first reported the news. “When we…
Shipyard, union are getting back on same page after strike
Months after a bitter strike during a pandemic, Bath Iron Works managers and production workers are starting to get on the same page when it comes to catching up on the production schedule. Machinists Union Local S6 and shipyard managers have been meeting with help from a federal mediator since the two-month strike ended in August. The result…
Tata: Concern over future of Port Talbot steelworks
Tata Steel has announced plans to make its UK business, based mainly in Port Talbot, “self-sustaining” while selling its Netherlands-based operations. Tata Steel said it planned to sell the European arm of its business and keep the UK business running without financial support from India. Wales’ Economy Minister Ken Skates said the news was “extremely…
Trump to ban Americans from investing in Chinese companies
President Trump is increasing pressure on China, and this time he’s targeting capital markets. On Thursday, Trump signed an executive order banning Americans from investing in a group of Chinese companies his administration says supply and support China’s military. The order blocks American companies and individuals from owning shares directly or through funds that include any of reportedly…
Could ‘dark stores’ help retailers like Macy’s hang on?
In the wake of the pandemic, a number of stores like Macy’s, Whole Foods (owned by Amazon), and Kroger are trying a new tactic to stay afloat: They’re going dark. That doesn’t mean they’re shutting off the lights and calling it a day. Instead, these so-called “dark stores” are attempting to stay open by closing their doors…
Grocers restore purchase limits on toilet paper, other products as COVID-19 cases surge
Some grocery store chains are bringing back limits on purchasing certain items including toilet paper as COVID-19 cases spike in the U.S. In a statement to USA TODAY, Kroger said they have “proactively and temporarily set purchase limits to two per customer” on items including toilet paper, paper towels, disinfecting wipes and hand soap. The…