Wednesday’s business headlines
INDIANAPOLIS (WISH) – Here’s a look at Wednesday’s business headlines.
Holiday gifts
Shoppers expect to pull back on purchasing gifts for their families and friends this holiday season.
More than a quarter of Americans told Gallup they will spend less on holiday gifts this year compared to last year.
Just 12% of shoppers say they will spend more this holiday on gifts than they did last year.
Microban
A new sanitizing product has won approval from the Environmental Protection Agency for its ability to kill the novel coronavirus in 60 seconds.
Procter & Gamble’s Microban was first released in February before the coronavirus crisis was officially declared a pandemic.
Amazon
Amazon is hiring 100,000 workers to help it get packages out over the holidays.
The employees will help pick, pack and ship customer orders across Amazon’s network of warehouses in the U.S. and Canada.
Amazon said California, Texas, Maryland, Georgia and New Jersey are the top states where it will hire employees.
Cummins
Engine giant Cummins produced much better than expected earnings, a sign of improving economic conditions and that management teams are working to control why they can amid a pandemic.
In Cummins Engine Business unit, sales declined by about 18% year-over-year in North America but they increased about 8% year-over-year in international markets.
The stock is near an all-time high.