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Online shoppers expected to spend over $240B this holiday season

Shoppers expected to spend over $240B this holiday season

INDIANAPOLIS (WISH) — Here’s a look at Friday’s business headlines with Jane King, who discusses the economic cost of Hurricane Helene, holiday hiring, and Boeing workers on strike.

Helene could cause billions in insurance losses

Hurricane Helene could cause $3 billion to $6 billion in private insurance losses and as much as $1 billion in losses in federal flood insurance and crop-insurance programs, according to global reinsurance brokers Gallagher Re.

Helene came ashore Thursday evening as a Category 4 hurricane and has since been downgraded to a tropical storm.

Boeing negotiating with workers on strike today

Both Boeing management and the workers want to end the strike that has slowed plane production and is costing Boeing millions.

They will be back at the negotiating table today, but they still seem pretty far apart on pay increases and retirement benefits.

Thirty-two thousand Boeing workers in Seattle and in Portland, Oregon, walked off the job Sept. 13 in the union’s first strike since 2008.

10th person dies from listeria linked to boar’s head meat

The CDC recently reported that a 10th person has died from the listeria outbreak linked to Boar’s Head deli meats. The agency says there were two additional illnesses, bringing the total to 59 cases across 19 states.

So far, more than 7-million pounds of liverwurst and other meats have been discarded from its Virginia plant– which will remain closed – resulting in 500 people out of work.

UPS to hire over 125,000 for holiday season

UPS announced Wednesday that it intends to hire over 125,000 employees to handle deliveries this holiday season.

The package delivery giant said in a post on its website that nearly 75% of its seasonal jobs do not require an interview and “applicants can get a job offer in just 10 minutes.”

The company said it is looking for delivery drivers with CDLs, seasonal delivery drivers and package handlers.

Shoppers expected to spend $240.8B this holiday season

Ready or not, the holiday season is right around the corner, and online shoppers are expected to spend a record $240.8 billion from Nov. 1 to Dec. 31.

Adobe Analytics says that’s an 8% increase over last year.

More than half of those purchases are expected to be done on mobile devices, instead of computers.