Amazon’s Prime Day Sales Seen Sharply Exceeding 2019 Level

Online retailer Amazon’s annual Prime Day shopping extravaganza starts at midnight U.S. Eastern Oct. 13 and sales are expected to exceed those of last year’s Black Friday and Cyber Monday combined.

The Seattle tech provider and online retailer’s event, which runs two full days, could net $9.9 billion in total sales, eMarketer estimates. 

That figure is more than 38% above last year’s Prime Day. Amazon doesn’t release sales figures for the event, but researchers pegged last year’s sales at roughly $7.16 billion.

J.P. Morgan analyst Doug Anmuth more conservatively estimates Amazon will take in $7.5 billion of revenue from the event this year, up 42% from an estimated $5.3 billion in 2019. 

“The biggest difference this year is that Prime Day is running three months later than its typical mid-July timing. [And] as such Amazon is promoting the event as an early start to holiday shopping vs. Prime Day’s typical

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House report is sharply critical of Treasury’s handling of payroll program

Ultimately, the subcommittee concluded that instead of preserving jobs, the Trump administration’s implementation of the Payroll Support Program “significantly weakened the Program’s impact on job preservation.”

The subcommittee’s assessment comes in stark contrast to how the program has played out for passenger airlines, which received the bulk of the more than $25 billion that was allocated to pay front-line workers. Airline and union leaders say the program saved tens of thousands of jobs until it expired Oct. 1 and have been aggressively pushing to extend it through the end of March.

“The Payroll Support Program has supported hundreds of thousands of aviation industry jobs, kept workers employed and connected to their healthcare, and played a critical role in preserving the U.S. airline industry,” the Treasury Department said in a statement. “Implementation focused first on the largest employers to help stabilize an industry in crisis and support as many jobs as

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Asian business confidence rebounds sharply, pandemic casts shadow: Thomson Reuters/INSEAD survey

By Nikhil Nainan

BENGALURU, India (Reuters) – Business sentiment among Asian firms rebounded in the third quarter as easing coronavirus restrictions lifted sales but lingering uncertainty over the pandemic thwarted a return to business-as-usual, a Thomson Reuters/INSEAD survey showed.

Asian firms’ outlook for the next six months tracked by the Thomson Reuters/INSEAD Asian Business Sentiment Index <.TRIABS> <RACSI> jumped to 53 in the third quarter from an 11-year low of 35 in the second, according to the survey of 103 companies across 11 Asia-Pacific countries.

It was also higher than the 50-point mark, which indicates a positive outlook.

The survey comes as the easing of coronavirus restrictions across Asia has reduced pressure on hard-hit economies, though the experience has varied across the region, with some still in recession and others, like China, seeing a steady recovery.

More than two-thirds of the companies polled said they saw the pandemic, or a

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