Business leaders call for ‘patience and civility’ ahead of US election, tying economic health to democracy
Business leaders are calling on Americans to be patient and civil ahead of the 2020 presidential election, citing the importance of maintaining confidence in democracy during the coronavirus pandemic.
More than 50 executives across the fields of tech, finance, retail, and real estate signed onto a statement released Wednesday by the Leadership Now Project, a group founded by Harvard Business School alumni focused on protecting democracy.
“America has successfully held elections through previous challenges, like the Civil War, World Wars l and ll, and the 1918 flu pandemic… we can and must do so again,” the group said in the statement. “As business leaders, we know firsthand that the health of America’s economy and markets rests on the founding principle of our democracy: elections where everyone’s vote is counted.”
The statement was backed by big names in business, including LinkedIn co-founder Reid Hoffman, Harvard Business School professor Michael Porter, former Yahoo chief executive Marissa Mayer, and General Assembly chief executive Lisa Lewin. Massachusetts executives on the list include Seth Klarman of Baupost Group, Tricia Glynn of Advent International, Trinidad Grange-Kyner from Tufts Health Plan, and Eric Spindt from Commonwealth Financial Group.
The group emphasized that it could take weeks or more until election results are confirmed because of the number of citizens voting by mail this year. They asked Americans to stay calm, “making it clear that they will refuse to accept any results called too early or based on insufficient data.”
The statement also called on journalists to “avoid calling the election before sufficient data are available,” and asked business leaders to “promote patience and civility among employees, communities, and the American people.”
LinkedIn’s Hoffman wrote that “election results inaccurately or prematurely reported by journalists, elected officials
- Broken record time as stimulus hopes continue to provide early market support
- Earnings season gets underway tomorrow with big banks beginning to report
- Big week for FAANGs as Amazon
AMZNPrime Day, Apple
AAPLevent coming up
If Wall Street had a seat belt sign, now’s when the captain would tell us to buckle up for possible turbulence ahead.
Even if earnings season didn’t begin tomorrow, there’s plenty to keep investors on their toes. Amazon’s (AMZN) Prime Day, Apple’s (AAPL) long-awaited product event, continued stimulus negotiations in Washington, and mounting virus cases in the U.S. and Europe all get mixed into the recipe.
Ordinarily, those ingredients would be enough for anyone, but this time it’s happening while investors and the entire world have one eye on polls three weeks ahead of the U.S. presidential election. Despite all this, volatility is the lowest since late August. We’ll see if it stays that way as this thick stew of news flows freely in coming days. With so much coming up, it’s unlikely we’ll see any real trend in the market today unless, of course, there’s news from Washington.
Which brings us to the broken record department, where stock futures rose this morning amid continued hopes of a stimulus agreement. That was last week’s theme and it continues into this week. Negotiations over the weekend had a mixed tone, so it still feels like anything can happen.
Think a stimulus isn’t worth all the Wall Street fuss? Late last month, Goldman Sachs
Early strength could partly
Apple has altered its website to remove a page for “Beats by Dre,” a possible sign that the company is shifting itself away from the headphone electronics brand in favor of its own name.
Since the purchase of Beats in 2014, Apple has promoted the popular brand at the same time as its own products, and in recent years technologies developed by Apple have crossed over to Beats devices. However, it seems that Apple is slowly moving from promoting Beats on its own website, by removing a prominent page about the hardware.
Spotted by Apple Terminal, the page in the online Apple Store for “Beats by Dr. Dre” listed the Beats products Apple sold, across multiple product lines. The list ranged from the wireless Powerbeats Pro earphones to premium over-ear models like the Beats Studio3 Wireless Headphones.
The exact date of when the page was taken down is unknown, but Wayback Machine results point to it happening between October 2 and October 9. Attempts to visit the page now result in a message stating “The page you’re looking for can’t be found.”
Despite the removal of the page, Apple is still selling Beats products in its online store as usual. It is feasible that the page could have been taken down as part of a general tidying up of online assets ahead of Tuesday’s special event.
Rumors about Apple migrating away from the Beats brand have surfaced since the high-priced acquisition took place, but so far the brand has been maintained and expanded upon by Apple.
One possible reason for its removal could be Apple’s preparation to launch the “AirPods Studio,” a pair of premium over-ear headphones that are rumored to provide AirPods Pro features in a more luxurious package. Thought to be
Apple has quietly removed the “Beats by Dre” webpage from its website ahead of its Apple event on Tuesday, as it prepares to launch a new, lower-cost HomePod and AirPods Studio headphones.
As noted by Apple Terminal, the landing page for Beats products can no longer be found on Apple’s website. The Wayback Machine has a snapshot of the page in its original form from October 2, while the most recent snapshot from October 9 shows the page as down, suggesting Apple removed it sometime between these two dates.
Over the last couple of weeks, MacRumors has independently observed a gradual removal of all links to Beats’ support website from Apple’s own support pages. Apple also quietly retired its Beats Updater utility that lets users update the firmware of their Beats Wireless headphones, earphones, and speakers.
Apple still sells Beats-branded products on the headphones and speakers section of its online store. However, earlier this month, Bloomberg reported that Apple is no longer selling headphones and wireless speakers from companies like Sonos, Bose, and Logitech. Apple did something similar in the past, eliminating stock of fitness trackers ahead of the launch Apple Watch.
These moves all point to Apple readying itself for new product launches in the audio category. Rumors indicate Apple is working on several new audio products, including a smaller, lower-cost HomePod and high-end over-ear Apple-branded headphones that could be called “AirPods Studio,” to be sold alongside the AirPods and AirPods Pro.
Both of these new products are expected to launch before the end of the year, and the removal of the third-party audio products from the online store suggests we could be seeing Apple’s new audio devices soon, perhaps as soon as this week at Apple’s “Hi, Speed” event on Tuesday, October 13, when it is also
BENGALURU (Reuters) – Amazon.com Inc AMZN.O has invested 7 billion rupees ($95.51 million) in its Indian payments unit, ahead of the festive season, data from business intelligence firm Tofler showed.
Amazon will begin its festive season sales on Oct. 17, and has been trying to encourage payments through Amazon Pay with cashbacks and other rewards.
Both Amazon and Flipkart offer deep discounts on everything from clothes, smartphones to home appliances ahead of key Hindu festivals Dussehra and Diwali.
In July, Jeff Bezos-led Amazon.com had invested 23.10 billion rupees in Amazon Seller Services and early this year announced a $1 billion investment to bring more than 10 million small businesses online in India by 2025.
Amazon, billionaire Mukesh Ambani-led Reliance Industries RELI.NS and Walmart Inc’s WMT.N Flipkart are in a race to gain market share in India’s fast-growing online market for food and groceries.
Oil-to-telecom conglomerate Reliance is also expanding its new commerce venture and has raised 377.19 billion rupees ($5.14 billion) in a month by selling stakes in its retail unit to investors including KKR & Co, private equity firm Silver Lake and Abu Dhabi state fund Mubadala Investment Co.
Meanwhile, this week, Amazon.com Inc sent a legal notice to Future Group, alleging the retailer’s $3.38 billion asset sale to Reliance breached an agreement with the e-commerce giant.
Reporting by Nallur Sethuraman in Bengaluru; Editing by Vinay Dwivedi