Bloomberg - Evening Briefing - Doom for holiday sales

Bloomberg Evening Briefing

Amazon.com sellers are bracing for a bleak holiday shopping season as consumers slow their spending. Many merchants—who sell more than half of the goods on Amazon’s web store—fear they’ll be forced to cut prices to move a mountain of unsold inventory. It’s an abrupt change from the previous two years of the pandemic, when sellers scrambled to get enough products into Amazon warehouses to meet Covid-fueled demand even as chronic shortages let them boost prices

Bloomberg is tracking the coronavirus pandemic and the progress of global vaccination efforts.

Here are today’s top stories

After a relatively calm start to the wildfire season, California is bracing for things to get much, much worse. A blistering heat wave and deepening drought have left the state tinder dry weeks before the arrival of seasonal hot winds that can whip a spark into towering flames. These factors are converging to set up a return of the massive blazes, choking smoke and fire-related deaths that have tormented the region in recent years. “I am kind of holding my breath,” said Daniel Swain, a climatologist with the University of California, Los Angeles. “If we do get those ignitions and the wind events, all bets are off.” And while there’s a tropical storm coming north, it may both help and hurt the situation.

Flames during the Fairview Fire in Hemet, California, on Sept. 6. Photographer: Eric Thayer/Bloomberg

Soft landing? Perhaps not. Investors are rushing out of US equities as the likelihood of a downturn increases amid a myriad of risks, Bank of America strategists warn. The nation’s stock funds had outflows of $10.9 billion in the week to Sept. 7, according to data cited by the bank. Still, Friday was a good day, as stocks were jumping. Here’s your markets wrap.

Google pays billions of dollars each year to Apple, Samsung and other telecom giants to illegally maintain its spot as the No. 1 search engine, the US Justice Department told a federal judge this week.

A Ukrainian counteroffensive appears to be progressing in the north, but less so in the southern Kherson region that has attracted greater attention and Russian reinforcements. Ukrainian officials and Russian military bloggers alike described a counteroffensive in the north that has surprised in its speed. Meanwhile, the US Army plans to use $867 million in Ukraine emergency funding for a new contract and accelerated production of an improved armored personnel carrier to replenish its own inventory.

The M113 carrier Photographer: Ian Hitchcock/Getty Images

Josh Harris, co-founder of Apollo Global Management, is building out his firm to focus on private equity, credit and insurance. In a statement, 26North Partners said it will launch with more than $5 billion in assets.

What’s keeping women from management roles? It turns out that a meta-analysis of six decades of studies shows that women aspire to leadership roles less often than men do. The findings suggest that corporations’ standard approaches to promote women and remove structural barriers may never result in full parity

King Charles III pledged “lifelong service” to his subjects in his first televised address to the UK as monarch, in which he paid tribute to his late mother Queen Elizabeth II. Here’s the story of her final portrait.

Queen Elizabeth II before receiving UK Prime Minister Liz Truss at Balmoral, Scotland, on Sept. 6. Photographer: Jane Barlow/PA Wire

What you’ll need to know tomorrow

In Dubai, a Mocktail Could Soon Run You $20

The buzziest drinks these days in the United Arab Emirates won’t give you a hangover. Menus at luxury hotel bars and Michelin-starred restaurants are increasingly featuring visually dazzling, nonalcoholic cocktails made with sophisticated gastronomic techniques and attention to detail—and prices to match.

A nonalcoholic cocktail made from spirits from Belgium-based Bôtan Distillery. Photographer: Bôtan Distillery

Older messages

The end of an era

Thursday, September 8, 2022

Bloomberg Evening Briefing View in browser Bloomberg Queen Elizabeth II, whose reign took Britain from the age of steam to the era of the smartphone, and who oversaw the largely peaceful breakup of an

A little less vicious

Wednesday, September 7, 2022

Bloomberg Evening Briefing View in browser Bloomberg There's some indication that the blood sport that is finding an affordable place to live in America may soon get a little less vicious. For the

Legal firestorm

Tuesday, September 6, 2022

Bloomberg Evening Briefing View in browser Bloomberg When US District Judge Aileen Cannon, 41, was up for Senate confirmation in 2020, she was asked whether she'd had discussions about loyalty to

The ‘Goldilocks’ scenario

Saturday, September 3, 2022

Bloomberg Weekend Reading View in browser Bloomberg Follow Us Get the newsletter It's still hot—but not blistering. The US labor market remains robust with solid wage growth and a healthy demand

Labor Day for the Fed

Friday, September 2, 2022

Bloomberg Evening Briefing View in browser Bloomberg US employers added a healthy number of jobs in August as a steady stream of people returning to the workforce suggests some easing in a tight labor

👟 Nike nixed hopes

Sunday, October 2, 2022

Nike's profit was down 22% | Eurozone inflation hit a record 10% | TOGETHER WITH Hi Reader, here's what you need to know for October 3rd in 3:12 minutes. 🕵️‍♀️ Join Nasdaq's Kevin Davitt

TIME TO START PLANNING FOR THE UPCOMING WEEKS

Sunday, October 2, 2022

UPCOMING ECONOMIC NEWS & EARNINGS ESTIMATES 03-21 OCTOBER ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Longreads + Open Thread

Saturday, October 1, 2022

Coase; Xi; Mr. Beast; AI; Monzo; Trader Joe ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Money's Best Places to Live 2022

Saturday, October 1, 2022

And the best place to live is... ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌

Meet the 5 mentors participating in Insider's first mentorship program for entrepreneurs

Saturday, October 1, 2022

Insider created a mentorship program, in partnership with Indeed, to help five entrepreneurs navigate the challenging labor market. View in browser Business Insider Business Insider Business Insider

‘Inept madness’

Saturday, October 1, 2022

Bloomberg Weekend Reading View in browser Bloomberg Follow Us Get the newsletter The UK is enveloped in a self-inflicted financial crisis. And while its origins go back years, some $500 billion has

Forced liquidation

Friday, September 30, 2022

Bloomberg Evening Briefing View in browser Bloomberg Spiraling losses on Wall Street are now snowballing into forced asset liquidation, according to Bank of America strategists. The NYSE Composite

Makers vs. Takers

Friday, September 30, 2022

Plus: Liability Driven Investment, Mortgage Originators, Credit Suisse ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Amazon rolls out broad-based pay raises for warehouse workers across its fulfillment network

Friday, September 30, 2022

Amazon employees have been agitating for higher pay for years, putting the company under pressure to respond. View in browser Business Insider Business Insider Business Insider Subscribe Business

Wall Street: BlackRock walks the ESG tightrope

Friday, September 30, 2022

The latest in finance. View in browser INSIDER INSIDER Subscribe 10 THINGS ON WALL STREET Hi. Aaron Weinman here. BlackRock's bullish stance on all things environmental, social, and governance has