University of Southern California
Holiday shopping moves online amid surging coronavirus, retailers face shaky prospects
File Photo Long lines and crowds at shopping centers have been as much a Thanksgiving tradition as the turkey dinner, but this year, things could look different. As COVID-19 numbers continue to surge, rushing to brick-and-mortar retail stores might seem not so appealing to many, and the holiday shopping season is moving online. “More and more shopping was already moving online, but COVID-19 concerns are definitely accelerating the shift to online buying,” David Reibstein, a marketing professor from Wharton School at the University of Pennsylvania, told Xinhua. The trend is evident as shown by recent data. Walmart, the nation’s largest retailer, reported that its third-quarter e-commerce sales surged 79 percent from a year ago. Amazon, the largest e-commerce retailer, reported a 37 percent ...
Gold rises on renewed US stimulus hope, dollar falls
Spot gold rose 0.3 percent to $1,910.56 an ounce at 3:37pm, New York time, after falling as much as 0.5 percent. Gold rose on renewed optimism for a preelection aid package in the U.S., while the dollar fell to a one-week low. House Speaker Nancy Pelosi said a bill for a compromise stimulus package is being written as she awaits a key phone call with Treasury Secretary Steven Mnuchin. Senate Majority Leader Mitch McConnell said his chamber would take up a comprehensive coronavirus package if an accord is struck. The Bloomberg Dollar Spot Index headed for the third straight decline. Pelosi said in a Bloomberg Television interview that while there are areas where more work is required to get a compromise, she was pleased with the Trump administration’s latest position on coronavirus testing ...
Naomi Osaka overtakes Serena Williams as world’s highest-paid female athlete
Japanese tennis star Naomi Osaka has become the world’s highest-paid female athlete, making US$37.4 million (S$50 million) in the past 12 months for an earnings record, Forbes magazine reported on Friday. The 22-year-old Asian star, a two-time Grand Slam champion, edged US rival Serena Williams by US$1.4 million in prize money and endorsement income over the past year. Both shattered the old single-year earnings mark of US$29.7 million set in 2015 by Russia’s Maria Sharapova, who retired in February with five Grand Slam titles, including a career Slam. “To those outside the tennis world, Osaka is a relatively fresh face with a great back story,” University of Southern California sports business professor David Carter told Forbes. “Combine that with being youthful and bicultural – two attri...
