The global pandemic triggered sky-high spending on manufactured goods. This increased spending created a huge bottleneck in the supply chain that could last for years. WIRED takes a look at the journey of a single shipping container; and with the help of supply chain analyst Lora Cecere, breaks down all the roadblocks a shipping container will encounter in 2021 and beyond.
Sports betting in the U.S. is booming. During the 2021 NFL season an estimated 45 million Americans are expected to wager at least $12 billion. Since a 2018 Supreme Court ruling, sports betting is now legal in more than 30 states.
A flood of new customers eager for risk and excitement has made DraftKings one of the nation’s biggest sportsbooks. In the third quarter of 2021 DraftKings revenue rose 60% from the year prior to $213 million. During that same period with mobile betting launching in several states the number of its monthly unique paying customers rose 31% to 1.3 million.
And the online sports betting and gaming industry in the U.S. is just starting to grow. As of 2021 only 4% of gross gaming revenue in the U.S. was generated online compared with 45% in a more mature market like the UK. The online sports betting market in the U.S. is expected to be worth nearly $40 billion by 2033. So what does the future look like for legal sports betting in America and what challenges lie ahead for sports betting providers like BetMGM, FanDuel and DraftKings?
Passenger airlines are a crucial industry in the global economy, but the sector is also extremely volatile. Running a passenger airline is an asset-intensive industry with narrow profit margins.
Despite the risks, the industry has experienced some periods of consistent growth, which can lull investors into a false sense of security. Watch the video above to learn whether investors should steer clear of the sector and why passenger airlines struggle to stay profitable.
Billionaire investor Warren Buffett once called himself an “air-o-holic” because of how tempted he is to invest in commercial airlines. But he learned the hard way, twice, that the industry can be a risky bet. Airline stocks have been on a wild ride since the beginning of the pandemic, which shows just how volatile the sector can be. “It seems that airlines once or twice a decade are hit with these really hard-to-process exogenous shocks, whether it’s something like 9/11 or the Great Recession,” said Adam Gordon, managing director and partner at Boston Consulting Group’s Airline Practice. The passenger airline industry is already asset-intensive, with narrow profit margins. Despite the risks, the industry has experienced some periods of consistent growth. Airlines saw big growth in profits for about a decade prior to Covid, which analysts attribute to the airlines restructuring post-9/11. These periods can lull investors into a false sense of security. In 2017, the CEO of American Airlines said he was confident the business was never going to lose money again. Airline stocks may be appealing to investors because the industry is crucial to the global economy. “If you just step back and you think about what service airlines are offering, they’re putting you in a metal tube, taking you up to 40,000 feet, and transporting you in relative or absolute comfort at hundreds of miles an hour to get from point A to point B. And if you think about the substitutes for that service, like, there really aren’t any,” said Gordon. “So it’s kind of surprising to me that an industry that delivers that kind of a service and does it with an absolutely impeccable operational and safety record is able to come under such pressure,” he added.
California’s Port of Los Angeles is struggling to keep up with the crush of cargo containers arriving at its terminals, creating one of the biggest choke points in the global supply-chain crisis. This exclusive aerial video illustrates the scope of the problem and the complexities of this process. Photo: Thomas C. Miller
Today consumers want to buy more sustainable products, employees want to work for firms that share their values, and in the investment world, ESG funds are all the rage. How are companies responding to these shifting demands and can businesses really do well by doing good?
00:00 – Can companies do well by doing good? 00:50 – Environment and climate change 06:50 – Employee wellbeing 09:51 – Workforce diversity 15:50 – Ethical supply chains 19:26 – Environmental Social Governance
Read more of our business coverage: https://econ.st/2XfyBBX
Americans are leaving their jobs in droves. In August 4.3 million Americans quit their jobs. While some people have left the workforce entirely, job security and better pay are top concerns for others. Dubbed “The Great Resignation”, the exodus of workers has created hiring challenges for companies and left millions of jobs unfilled. More than half of U.S. workers surveyed said they plan to look for a new job in the coming year, according to Bankrate’s August jobseeker survey. Some 56% of respondents said adjustable working hours and remote work were a priority. Working women have faced an additional burden, juggling childcare duties, virtual schooling and their careers. So, what does the realignment of the workforce mean for employees and businesses? And what steps should you take before quitting your job?
The number of semiconductors in a modern car, from the ignition to the braking system, can exceed a thousand. As the global chip shortage drags on, car makers from General Motors to Tesla find themselves forced to adjust production and rethink the entire supply chain. Illustration/Video: Sharon Shi
Amazon is on a spending spree to grow its fleet of planes, vans, semitrucks and drivers in its latest move to compete with FedEx and UPS. Now, it’s using the added capacity to move cargo for outside customers, betting big on the business of third-party shipping while also shipping 72% of its own packages. CNBC talks to former Amazon executives and current customers using the shipping services to find out all about the behemoth’s next big move.
Marriott International has been a stalwart in the hotel industry for decades. However, the hotel giant — along with its competitors — was hit hard by the Covid-19 pandemic in 2020. Last year was the worst on record for U.S. hotels, and Marriott was particularly hard hit. The company posted in 2020 its first full-year loss in more than a decade. Despite those challenges, the rollout of vaccines and signs of pent-up travel demand has led to a renewed sense of optimism for the hotel operator.