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An NBC News poll at that time showed that at least 20% of Black men would support Trump — an alarming number for Democrats. Harris introduced an Opportunity Agenda for Black Men, outlining what her administration would do to support that voting constituency that seemed movable. But that effort was one of the few that addressed Black men directly, he added. Black men younger than 30 and older than 65 were the most likely to support Harris at 78% and 87%, respectively. We must avoid casting Black men as scapegoats and saviors.”Jones added that the numbers should be considered with nuance.

Persons: Donald Trump, Joe Biden’s, Kamala Harris, Harris, Alvin Tillery, “, ” Tillery, Tillery, ”, Black, ” Darius Jones, ” Jones, Trump, ” Marcus Hans, Harris ’, ” Hans, ” Harris, NFL standouts Antonio Brown, Le’Veon Bell, Kamala ’ isn’t Organizations: NBC, Trump, Biden, Northwestern University, PAC, For Black Equity, Black, NBC News, National Empowerment, Action Fund, Democratic Party, Democrats, Howard University, NFL Locations: Tuesday’s

Trump and the GOP have denied the tariffs would be inflationary, pointing to Trump’s success in imposing tariffs in his first term without reigniting inflation. Yet those tariffs, at $300 billion on selected Chinese goods, were much more targeted than the $3 trillion worth of blanket tariffs Trump is now expected to propose. And the inflationary environment is different now, too: During Trump’s first term, inflation only briefly ever climbed above 2%. It was Trump who appointed Powell to lead the Federal Reserve in his first term. But Trump has signaled a willingness this year to abandon the long-running principle of maintaining the Fed as an independent body.

Persons: Donald Trump’s, Trump’s, Trump, ’ Anna Kelly, David Seif, Jerome Powell, Powell, ” Trump, ” Seif, Seif Organizations: Federal, Wall, Federal Reserve, Nomura Holdings, Trump, GOP, Republican National Committee, Nomura, Fed, Bloomberg, Chicago Economic, Reuters Locations: China

☆ Steve Madden to slash China sourcing by as much as 45% as Trump's tariff plan looms
▼ + stars: | 2024-11-07 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +3 min

Over the past few years, he said, it's looked for factories in other countries, including Cambodia, Vietnam, Mexico and Brazil. Rosenfeld said about two-thirds of Steve Madden's business are U.S. imports. Of that, he said, "we currently source a little bit more than 70% of those goods from China." That means slightly less than half of its business would be at risk of tariffs on Chinese imports, he said. He said the company has moved more of its production outside of China since tariffs began under Trump's first administration.

Persons: Steve Madden, Donald Trump, Edward Rosenfeld, it's, " Rosenfeld, Steve Madden's, Trump, Tarang Amin, Trump's, Kate Spade, Scott Roe, we've, Gabrielle Fonrouge Organizations: Retail Locations: China, Cambodia, Vietnam, Mexico, Brazil

☆ Starbucks and Luckin are in a fight for the global coffee market. I visited both to see how they stack up on price, menu, and vibe.
▼ + stars: | 2024-11-07 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +8 min

Luckin Coffee, which has put up a strong fight against Starbucks in Asia, is looking to the US. The chain is known for its aggressive deals, unusual flavors like a Big Cheese coffee drink, and mobile ordering. Luckin versus StarbucksI started at Luckin Coffee. Aditi BharadeThe most expensive drink on the menu was an Iced Oat Shakerato listed for 8 Singapore dollars, or $6. Representatives for Luckin Coffee didn't respond to a request for comment from BI for this story.

Persons: —, Brian Niccol, Niccol, Luckin, Aditi Bharade, Rachel Ruggeri, Ruggeri, It's, David Yu, Jiang, it's, Tiruchelvam, Yu Organizations: Starbucks, Service, Business District, Staff, Singapore, Luckin, BI, Bros, NYU, Aletheia Capital Locations: Asia, China, Singapore, Beijing, United States

☆ China's luxury slump is trickling down to other consumer companies
▼ + stars: | 2024-11-07 | by ( Madeline Berg | Huileng Tan | ) www.businessinsider.com time to read: +5 min

China's luxury slump is spreading to more consumer brands. Companies like Starbucks, Estée Lauder, and Nike have reported falling sales in the region. It's hitting Western brands particularly hard, as reflected by companies across the consumer sector reporting muted sales in China in the most recent quarter. Consumer spending in China never fully recovered after the government started lifting COVID-19 curbs in late 2022. AdvertisementAdidas managed to buck the trend, reporting sales up 9% in Greater China in the third quarter.

Persons: Estée Lauder, —, China's, MingYii Lai, Brian Niccol, L'Oréal, Lynn Song Organizations: Companies, Starbucks, Nike, Service, Burberry, Daxue Consulting, InBev, Carlsberg, Apple, Adidas, Heineken, Greater China, ING Locations: China, Beijing, Greater China, Greater

☆ Goldman Sachs slashes European growth forecasts on Trump win
▼ + stars: | 2024-11-07 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —President-elect Donald Trump’s proposed protectionist policies, including hefty tariffs, will hurt Europe’s economic standing — leaving crisis-hit Germany particularly vulnerable, Goldman Sachs predicts. Goldman Sachs expects gross domestic product across the 20 countries that use the euro to expand 0.8% next year, down from the 1.1% it forecast previously. Goldman Sachs’ central expectation is for “a more limited set of tariffs on European economies,” targeting primarily their auto exports. Goldman Sachs now expects the German economy to grow only 0.5% next year because of trade tensions, just over half the 0.9% growth it forecast previously. “For European businesses, Trump’s return to the White House implies considerable trade policy risks and geopolitical uncertainty,” Berenberg chief economist Holger Schmieding wrote in a note Thursday.

Persons: Donald Trump’s, Goldman Sachs, Trump’s, Trump, ”, Holger Schmieding, “ Organizations: London CNN —, NATO, Republican, European Union, Volkswagen, VW Locations: Germany, United States, Europe, Ukraine, China

☆ Bank of England set for second cut after Labour reveals tax-hiking budget
▼ + stars: | 2024-11-07 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

A pedestrian crosses the streets in front of The Bank of England illuminated by a ray of sunlight, in central London, on February 12, 2024. LONDON — The Bank of England is widely expected to cut interest rates Thursday, when policymakers deliver their first monetary policy decision following Labour's bumper budget announcement last week. The BOE is forecast to lower rates by 25 basis points for the second time this year, bringing its key rate to 4.75%. Policymakers had signaled a "gradual approach" to cuts after holding rates steady at their September meeting. The Federal Reserve on Thursday will also deliver its latest interest rate decision following the conclusion of the U.S. presidential election, having previously cut by 50 basis points in September.

Persons: BOE, Goldman Sachs, Rachel Reeves Organizations: The Bank of England, LONDON, Bank of England, Finance, Federal Reserve, U.S Locations: London

☆ Duolingo put its sarcastic teen chatbot to work on its earnings call
▼ + stars: | 2024-11-07 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +3 min

Duolingo's Wednesday earnings call started with an AI chatbot demonstration. The chatbot, Lily, summarized the company's performance this quarter. The purple-haired chatbot, which sounded like a bored, sarcastic teenager, replaced CEO Luis von Ahn at the beginning of the video call. "Our new Duolingo Max feature video call lets learners chat with me," the chatbot said. AdvertisementWhile Lily was largely a gimmick for the earnings call, the impact of AI has been a persistent theme in earnings this year.

Persons: Lily, Duolingo, —, Luis von Ahn, Von Ahn, OpenAI's, Piper Sandler's Arvind Ramnani, Gen, didn't Organizations: Service, Meta, Microsoft

☆ AppLovin, top tech stock of the year, soars another 45% on earnings beat
▼ + stars: | 2024-11-07 | by ( Ari Levy | ) www.cnbc.com time to read: +3 min

AppLovin shares soared 45% on Thursday after the online gaming and advertising company issued guidance that was well above estimates and reported better-than-expected earnings and revenue. For the fourth quarter, AppLovin sees revenue of $1.24 billion to $1.26 billion, representing growth of about 31% at the middle of the range. The company said software platform revenue in the quarter increased 66% to $835 million, driven by improvements in AXON's models. Net income in the quarter increased 300% to $434.4 million, or $1.25 a share, from $108.6 million, or 30 cents a share, a year earlier. "AppLovin continues to impress with outsized revenue growth and incredible EBITDA conversion," analysts at Wedbush wrote in a report on Thursday.

Persons: It's, AppLovin, Wedbush, Adam Foroughi, it's, Foroughi, CNBC's CJ Haddad, Unity Organizations: Revenue

☆ The market is already indicating the early winners and losers from Trump's win
▼ + stars: | 2024-11-07 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +4 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . A pillar of President-elect Donald Trump's campaign was the economy and the work he would do to "fix it." Tesla shareholders: The EV giant took off with news of Trump's win, finishing the day up almost 15%. Bond yields are already soaring, indicating the market expects the cost of borrowing to keep rising. Investors in Europe: European growth stands to take a hit from Trump's proposed tariffs, according to Goldman Sachs.

Persons: —, Donald Trump's, Elon Musk's, Trump, that's, Goldman Sachs, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Ella Hopkins, Grace Lett, Amanda Yen, Milan Sehmbi Organizations: Business, Service, White, Nasdaq, Dow Jones Industrial, GOP, Tesla, Trump, bitcoin, Treasury, Investors Locations: Europe, New York, London, Chicago

☆ Oil prices regain ground as investors eye U.S. election fallout
▼ + stars: | 2024-11-07 | by ( ) www.cnbc.com time to read: +2 min

Oil prices edged up on Thursday following a sell-off triggered by the U.S. presidential election, as risks to oil supply from a Trump presidency and a hurricane building in the Gulf Coast outweighed a stronger U.S. dollar and higher inventories. Brent crude oil futures rose 26 cents, or 0.35%, to $75.18 per barrel by 0125 GMT. Trump's election had initially triggered a sell-off that pushed oil prices down by more than $2 as the U.S. dollar rose to its highest level since September 2022. Donald Trump is expected to reimpose his "maximum pressure policy" of sanctions on Iranian oil. U.S. crude inventories rose by 2.1 million barrels to 427.7 million barrels in the week ending on Nov. 1, the U.S. Energy Information Administration said on Wednesday, compared with expectations for a 1.1 million-barrel rise.

Persons: Tony Sycamore, Brent, Donald Trump, Trump, Biden, Hurricane Rafael Organizations: U.S, Trump, Brent, . West Texas, IG, U.S . Bureau of Safety, Environmental Enforcement, U.S . Energy, Administration Locations: Gulf, Iran, Venezuela, China, North America, Hurricane, U.S . Gulf, Mexico

☆ Moderna posts surprise profit as Covid vaccine sales impress, cost cuts take hold
▼ + stars: | 2024-11-07 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +5 min

Moderna on Thursday posted a surprise profit for the third quarter, smashing Wall Street estimates, as its cost-cutting efforts took hold and sales of its Covid vaccine came in higher than expected. Before year end, the company plans to file for approval of its experimental "next-generation" Covid vaccine and combination shot targeting Covid and the flu. Moderna this year also expects to apply for expanded approval of its RSV vaccine, targeting high-risk adults ages 18 to 59. "I think the earlier launch and a steeper ramp drove a much higher sales number" for the Covid vaccine, Moderna CEO Stéphane Bancel said in an interview. Analysts had expected sales of $132 million for the RSV vaccine, according to estimates compiled by StreetAccount.

Persons: Moderna, Stéphane Bancel, Bancel, StreetAccount, mull Organizations: Moderna, LSEG, Merck, Research Locations: U.S, Union, Norway, Iceland, Qatar, Europe

☆ Stocks making the biggest moves after hours: Airbnb, Pinterest, Expedia, Rivian and more
▼ + stars: | 2024-11-07 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +4 min

Rivian posted an adjusted loss of 99 cents per share on $874 million in revenue. Analysts polled by LSEG had forecast a loss of 92 cents per share on revenue of $990 million. On the other hand, Block's adjusted earnings of 88 cents per share beat analysts' estimates by one cent. DraftKings said its fourth-quarter adjusted earnings before interest, taxes, depreciation and amortization will range between $240 million and $280 million. Expedia's adjusted earnings for the third quarter came in at $6.13 per share, beating analysts' call for $6.04 a share, per LSEG.

Persons: Rivian, LSEG, Airbnb, Akamai, FactSet, DraftKings, Sweetgreen, Toast, Julie Whalen, Jimmy Choo, Michael Kors, Versace, —, Darla Mercado, Lisa Kailai Han, Alex Harring Organizations: StreetAccount, Revenue, Arista Networks, Capri Holdings, Capri Locations: LSEG

☆ Stocks making the biggest moves premarket: Lyft, SolarEdge, Qualcomm, Moderna and more
▼ + stars: | 2024-11-07 | by ( Brian Evans | ) www.cnbc.com time to read: +5 min

Lyft expects bookings in the current quarter of $4.28 billion to $4.35 billion, while analysts polled by FactSet expected $4.23 billion. SolarEdge — The solar panel inverter stock slipped more than 16% after a third-quarter revenue miss. SolarEdge reported revenue of $261 million, while analysts surveyed by LSEG were looking for $269 million. Third-quarter revenue surpassed Wall Street estimates, and the company expects fourth-quarter revenue of $256 million to $262 million, compared with an estimate of $260 million. Moderna — Shares rallied 7% after Moderna's third-quarter earnings and revenue topped expectations.

Persons: FactSet, SolarEdge, —, Zillow, Gilead, LSEG, Armour, Hershey, Samantha Subin, Hakyung Kim, Sarah Min Organizations: Arm, Wall, LSEG, FactSet, —, Qualcomm, Gilead Sciences, Hershey Locations: Gilead

☆ CNBC's Inside India newsletter: How will the next Trump administration impact India?
▼ + stars: | 2024-11-07 | by ( Ganesh Rao | ) www.cnbc.com time to read: +6 min

Global trade changed considerably over the past four years — benefiting India — as President Joe Biden retained much of Trump's tariffs on China. EnergyOn the one hand, analysts expect Indian interests to be aligned with those of the United States regarding oil prices . Trump's previous term in office, whether intentionally or coincidently, saw moderate to low oil prices. As India imports over 90% of its oil needs, New Delhi will likely welcome any move by the U.S. to keep oil prices low. A quick resolution of the war in Ukraine — Trump's campaign promise — would also prove to be negative for oil prices.

Persons: Narendra Modi, Donald Trump, Narendra Modi's, Joe Biden, Macquarie, Aditya Suresh, Trump, Uncle Sam, Samiran Chakraborty, Baqar Zaidi, Ukraine —, —, Sanjeev Prasad Organizations: India's, U.S, Manufacturing, Global, Observer Research Foundation, Treasury, Indian, Citi, Companies, Tata Consultancy Services, HCL Tech, Infosys, Energy, Suzlon Locations: Hyderabad, New Delhi, India, China, U.S, Mumbai, United States, Ukraine

☆ The one solar stock to buy after Trump's win hit the sector, analysts say
▼ + stars: | 2024-11-07 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

First Solar is the largest manufacturer of solar panels in the U.S. and is rated overweight at Wells Fargo. But the domestic manufacturing tax credits that benefit First Solar are likely to survive because they support jobs in GOP congressional districts, according to the bank. Tailwinds from tariffs, however, would be offset by headwinds from IRA repeal if the GOP goes after the manufacturing tax credits. In the universe of publicly-traded solar stocks, however, analysts view First Solar as best positioned to weather the storm. "In our view, higher tariffs on imported solar panels would diminish competition from Chinese manufacturers, pushing demand towards First Solar's U.S.-made products."

Persons: Donald Trump's, Michael Blum, Trump Organizations: Wells, Republicans, headwinds, GOP, Bank of America Locations: tandemm, U.S, Wells Fargo, China

☆ Goldman says buy these stocks that are set to benefit most from Trump tax cuts
▼ + stars: | 2024-11-07 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Trump favors slashing the corporate tax rate to 15% from 21%. To find a group of beneficiaries from lower corporate tax rates, Goldman screened for stocks that have seen the highest median corporate tax rate over the past ten years. Companies on the list pay median corporate tax rates higher than the S & P 500 median of 21%. CEO Bob Iger's media company also has one of the highest ten-year median corporate tax rates found by Goldman, at 29%. Hilton has also paid a ten-year median corporate tax rate of 29%.

Persons: Donald Trump's, Goldman Sachs, David Kostin, Kostin, Trump, Trump's, Goldman, Disney, Bob Iger's, FactSet, Hilton Organizations: White, Goldman, Dow Jones, Nasdaq, U.S . House, GOP, Republican, Companies, DIS, Disney, Hilton Worldwide Holdings, FactSet, Delta Airlines, American Express

☆ Trump said he will divide Russia from China. It's a tough bromance to break.
▼ + stars: | 2024-11-07 | by ( Tom Porter | ) www.businessinsider.com time to read: +7 min

President-elect Donald Trump claims he can split the alliance between Russia and China. "The one thing you never want to happen is you never want Russia and China uniting," Trump said. These are potentially all things that Trump could use to drive a wedge between Russia and China." The Trump effectAnother factor likely to draw Russia and China closer together is Trump himself. In East Asia, Trump has accused allies of freeloading off the US, a source of tension Beijing will likely seek to exploit.

Persons: Donald Trump, —, Tucker Carlson, Trump, Biden, Vladimir Putin of, Xi, China's, Putin, Stefan Wolff, Carlson, Wolff, Paul Cormarie, Jonathan Ward, Vladimir Putin, they'd, Robert Dover, Zhiqun Zhu, Cormarie Organizations: Service, Trump, University of Birmingham, Pentagon, Trade, Anadolu, Getty, Central, RAND Corporation, BI, Hudson Institute, Kremlin Press, Anadolu Agency, International Security, Hull University, NATO, Bucknell University Locations: Russia, China, Ukraine, Glendale , Arizona, Vladimir Putin of Russia, Moscow, Beijing, Taiwan, Russian, Bering, European, East Asia

☆ Trump’s victory could disrupt the energy sector. These stocks are likely winners and losers
▼ + stars: | 2024-11-07 | by ( Spencer Kimball | ) www.cnbc.com time to read: +5 min

He has also generally backed nuclear power, though he expressed some skepticism in his October interview with Joe Rogan. The clearest winner: Gas Stocks exposed to natural gas emerge as some of the clearest winners, according to post-election notes by JPMorgan and Jefferies. But the company has significant gas generation assets and would be poised to benefit under the fossil-fuel friendly Trump administration, according to JPMorgan. GE Vernova is one of the clearest winners, according to Jefferies analysts. Cheniere also stands to benefit through potentially easier liquid natural gas production under Trump, Jefferies found.

Persons: Donald Trump, Trump, Joe Rogan, Kevin Kwan, Cheniere, Jefferies, Sunrun, Enphase, SolarEdge, Julien Dumoulin, Smith, Goldman, Biden, it's Organizations: Green New, Gas, JPMorgan, Jefferies, Vistra Corp, Trump, GE Vernova, GE, Senate, GOP, NOVA, NextEra Energy, U.S, Nuclear Locations: U.S, Ukraine

☆ Affirm beats on top and bottom lines
▼ + stars: | 2024-11-07 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +3 min

Affirm , the provider of buy now, pay later loans reported better-than-expected fiscal first-quarter results. Revenue less transaction costs (RLTC) came in at $285 million, ahead of earlier guidance of $265 million to $280 million. Affirm said it expects to achieve profitability on a GAAP basis in its fiscal fourth quarter of 2025. Affirm is guiding to GMV in the range of $9.35 billion to $9.75 billion. In June, Affirm and Apple announced plans for U.S. Apple Pay users on iPhones and iPads to be able to apply for loans directly through Affirm.

Persons: Max Levchin, StreetAccount, Kevin Kennedy, Kennedy, —, Robert Hum Organizations: Revenue, Apple, U.S Locations: LSEG

☆ Baird downgrades JPMorgan Chase to sell, sees stock dropping nearly 20%
▼ + stars: | 2024-11-07 | by ( Sean Conlon | ) www.cnbc.com time to read: +1 min

Analyst David George downgraded the stock to underperform from neutral. He believes that JPMorgan is over-earning on both net interest income and credit and finds the stock expensive at current trading levels. "We know we are fighting the tape here, but believe it makes sense to sell the stock." JPM YTD mountain JPM, year-to-date George also noted that, even with a potentially more friendly regulatory environment under a second Trump administration, JPMorgan Chase may not grow its buyback program from here. LSEG data shows 15 of the 24 analysts covering the stock have a buy or strong buy rating.

Persons: Baird, David George, George, Trump, JPMorgan Chase, buybacks Organizations: JPMorgan Chase, JPMorgan

☆ Trump win and threat of more tariffs raises expectations for more China stimulus
▼ + stars: | 2024-11-07 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

On the campaign trial, Trump threatened to impose additional tariffs of 60% or more on Chinese goods sold to the U.S. She expects a stimulus package of more than 10 trillion yuan ($1.39 billion), with about 6 trillion yuan going towards local government debt swaps and bank recapitalization. More than 4 trillion yuan will likely go towards local government special bonds for supporting real estate, Su said. That divergence in stock performance indicates China's stimulus "will be slightly bigger than the baseline scenario," said Liqian Ren, who leads WisdomTree's quantitative investment capabilities. She estimates Beijing will add about 2 trillion yuan to 3 trillion yuan a year in support.

Persons: Zhu Baoliang, Trump, Su, Yue Su, —, Liqian Ren, Ren doesn't, Biden, Chris Miller, That's, China's, Zhiwei Zhang Organizations: Bund, Trump, Citigroup, U.S, Economist Intelligence Unit, National People's Congress, Huawei, Republicans, Senate, NBC, Republican Party, Emergency Economic, Trade Locations: Shanghai, China, Hong Kong, Beijing, U.S

☆ With Trump's White House win, the clock is ticking on over $6 billion in Ukraine aid
▼ + stars: | 2024-11-07 | by ( Chris Panella | ) www.businessinsider.com time to read: +5 min

The clock is ticking on getting Ukraine that support before Trump takes office. Trump's return to the White House could threaten US support for Ukraine. AdvertisementPresident-elect Donald Trump will be returning to the White House, and that means the clock is now ticking on getting billions of dollars in US aid to Ukraine. AdvertisementA Pentagon spokesperson told Business Insider it's on track to get the Ukraine aid out before mid-January, but it'll be a heavy lift. Kyiv has repeatedly asked the Biden administration to do so, but the White House has maintained the position that such action would be escalatory.

Persons: Biden, Trump, Trump's, —, Donald Trump, it'll, Sean Gallup, George Barros, Volodymr Zelenskyy, I've, he'd, Zelenskyy, Serhii Mykhalchuk, Barros, Mark Rutte Organizations: Service, White, Pentagon, Biden, Politico, Getty, Institute for, Russian, Trump, Kyiv, NATO Locations: Ukraine, Russia, Gaza, Moscow

☆ What Trump’s historic election victory means for the global economy
▼ + stars: | 2024-11-07 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +6 min

Nurphoto | Nurphoto | Getty ImagesDonald Trump's election victory over Vice President Kamala Harris marks a historic return to the White House — an extraordinary political comeback that is likely to have seismic ramifications for the global economy. The former president's litany of campaign pledges include steep tariffs, tax cuts, deregulation and a push to withdraw from key global agreements. Trump's favorite wordTrump has previously described "tariff" as his favorite word, calling it "the most beautiful word in the dictionary." And we don't see Trump's secondary tariff pledge — that baseline tariff, which would hurt European companies — as being all that feasible," Galbraith said. Analysts have warned that Trump's plan to impose universal tariffs are highly likely to raise prices for consumers and slow spending.

Persons: Donald Trump's, Kamala Harris, Trump, Lizzy Galbraith, Abrdn, Galbraith, CNBC's, Donald Trump, Ben May, Mitchell Reiss Organizations: Nurphoto, Getty, European Union, Bloomberg, Trump, Oxford Economics, Signum Global Advisors, Macquarie Group, Royal United Services Institute Locations: Binzhou, China, Florida, U.S, Mexico, Greensboro , North Carolina, Ukraine, Europe, Asia, Qingdao Port, Shandong province, Qingdao, American

☆ In leaked internal meeting, Amazon retail chief says sales of cheaper items are surging
▼ + stars: | 2024-11-07 | by ( Eugene Kim | ) www.businessinsider.com time to read: +5 min

Amazon's sales of cheap items are surging, driven by faster delivery speeds, executive says. Over 50% of those everyday essentials are now delivered on the same or next day, he added. "And these are especially the low-priced everyday essentials, the things that most households purchase every week." The goal has been to not only speed up deliveries, but also make it less expensive for the company to offer faster delivery. 'Real positive'During last month's analyst call, Jassy added that the growth of cheaper items is a "real positive" because it is predicated on faster delivery speeds.

Persons: —, Doug Herrington, Herrington, Amazon's, Andy Jassy, Jassy, Brian Olsavsky, Mark Mahaney, Mahaney Organizations: Service, Business, Reuters, Amazon, HH

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