Oct 9, 2017

44% of retailers have cut prices due to online competition

An Amazon worker picks items for shipment. (Photo: Ross D. Franklin / AP)

Nearly half of retailers in the United States, Europe, and Japan have been forced to cut their prices in the face of online-only competition, according to a survey of retail executives by Applied Predictive Technologies.

Why it matters: It's more evidence explaining why investors have lost confidence in most major retailers outside of Amazon in recent months.

For context: Stocks in 14 out of 29 companies in the S&P 500 retailing industry group have fallen in value this year, a time when more than 70% of stocks in the S&P 500 overall have risen in value, according to S&P Capital IQ. Investors fear these companies' inability to raise prices without also losing market share to the likes of Amazon.

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The rematch of the century

Illustration: Eniola Odetunde/Axios

The weekend's biggest sporting event is Wilder-Fury II, which despite its name is not an action movie sequel starring Jean-Claude Van Damme but, rather, a boxing match starring arguably the two best heavyweights in the world.

The backdrop: In their first meeting in December 2018, Deontay Wilder and Tyson Fury put on a memorable show at Staples Center, with Fury surviving a brutal right hand in the 12th round to earn a split-decision draw.

Go deeperArrow11 mins ago - Sports

Pro-Trump warrior takes the helm of U.S. intelligence

Richard Grenell in Berlin. Photo: Sean Gallup/Getty Images

By picking Ambassador Richard Grenell to be acting director of national intelligence, President Trump has slotted a pro-Trump warrior into the ultimate apolitical role.

What they're saying: James Clapper, the longest-serving DNI (2010-2017), tells Axios it's "very worrisome installing a partisan with no real intelligence experience in this position."

Coronavirus kills 2 Diamond Princess passengers as Israel confirms first case

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. U.S. numbers include Americans extracted from Princess Cruise ship.

Two elderly Diamond Princess passengers have been killed by the novel coronavirus — the first deaths confirmed among the more than 600 infected aboard the cruise ship — as Israel confirmed its first case among evacuees from the ship.

The big picture: COVID-19 has now killed more than 2,200 people and infected over 76,000 others, mostly in mainland China, where the National Health Commission announced 118 new deaths since Thursday.

Go deeperArrowUpdated 1 hour ago - Health