Here Are the Major Pieces of Biden’s $1.9 Trillion Stimulus Plan
(Bloomberg) — President-elect Joe Biden’s $1.9 trillion Covid-19 relief plan is designed to both pump money into the economy and contain the coronavirus pandemic. The plan includes a wave of new spending, including more direct payments to households, an expansion of jobless benefits, more money for state and local governments and an expansion of vaccinations and […]
Amazon’s ad business will gain the most share this year, according to analyst survey
Amazon will be the leading share gainer among the major digital ads businesses in 2021 and 2022, according to a new ad buyer survey from Cowen released Tuesday. Amazon’s ad business will continue to grow as more spend comes from TV, search and other digital platforms and as buyers see strong return on investment on the […]
Americans spent a record online over 2020 holidays, and more e-commerce gains are expected
U.S. online purchases over the 2020 holidays grew 32.2% from 2019, totaling a record $188.2 billion as shoppers stayed home and shopped on the web during the pandemic, according to Adobe Analytics. E-commerce sales during November, which included Black Friday and Cyber Monday, reached $100 billion for the first time, said Adobe, which tracks the web […]
Tom Lee has a theory on why stocks are far from a bubble and due for another big decade
(A full version of this story is available for CNBC Pro subscribers only) Fundstrat Global Advisors co-founder Tom Lee is pushing back against claims that the stock market is in a dangerous bubble, telling clients that equities are likely set for another strong decade. In reiterating his bullish outlook on Monday, Lee noted that bonds and gold […]
U.S. construction spending races to record high in November
U.S. construction spending rose to a record high in November, boosted by a robust housing market amid historically low mortgage rates, which could help blunt some of the hit on the economy from raging COVID-19 infections.
Surge in online shopping is straining America’s busiest port, official says
The number of shipments coming through the nation’s busiest container port complex in Los Angeles is up substantially from the first half of the year, reflecting a rebound in business and shift in consumer habits.
U.S. core capital goods orders, shipments rise in November
New orders for key U.S.-made capital goods increased for a seventh straight month in November, suggesting business investment could offset slowing consumer spending and keep the economy on a moderate growth path in the fourth quarter.
Local retailers turn to delivery apps to make sure your gifts arrive by Christmas
With just a few days before Christmas, shoppers are running out of options to receive their holiday gifts in time to place them under the tree.
Apple targets car production by 2024 and eyes “next level” battery technology – sources
(Reuters) – Apple Inc is moving forward with self-driving car technology and is targeting 2024 to produce a passenger vehicle that could include its own breakthrough battery technology, people familiar with the matter told Reuters. The iPhone maker’s automotive efforts, known as Project Titan, have proceeded unevenly since 2014 when it first started to design […]
China has five COVID-19 vaccines in the final phase of state approval, according to health officials
By Kevin Shalvey December 19, 2020 Five COVID-19 vaccines made in China have entered the final sprint for state approval, said officials in a press conference on Saturday, according to Xinhua News Agency. More than a million Chinese citizens have already been inoculated by vaccines approved for emergency use. “This will gradually forge a barrier of […]