Sign up for our daily briefing

Make your busy days simpler with the Axios AM and PM newsletters. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to the Axios Closer newsletter for insights into the day’s business news and trends and why they matter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios Pro Rata

Dive into the world of dealmakers across VC, PE and M&A with Axios Pro Rata. Delivered daily to your inbox by Dan Primack and Kia Kokalitcheva.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with the Axios Sports newsletter. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with the Axios Des Moines newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with the Axios Tampa Bay newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Nashville news?

Get a daily digest of the most important stories affecting your hometown with the Axios Nashville newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Columbus news?

Get a daily digest of the most important stories affecting your hometown with the Axios Columbus newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Dallas news?

Get a daily digest of the most important stories affecting your hometown with the Axios Dallas newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Austin news?

Get a daily digest of the most important stories affecting your hometown with the Axios Austin newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Atlanta news?

Get a daily digest of the most important stories affecting your hometown with the Axios Atlanta newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Philadelphia news?

Get a daily digest of the most important stories affecting your hometown with the Axios Philadelphia newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Chicago news?

Get a daily digest of the most important stories affecting your hometown with the Axios Chicago newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios NW Arkansas

Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top DC news?

Get a daily digest of the most important stories affecting your hometown with the Axios DC newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Illustration: Aïda Amer/Axios

Holiday gifts are probably going to cost more this holiday season — a lot more, according to a new report from Salesforce.

Why it matters: Price increases, and consumers’ willingness to pay them, may help save manufacturers’ and retailers’ bottom lines in a season riddled with shipping and logistics logjams.

  • Businesses have warned consumers to start holiday shopping yesterday — in order to avoid the worst of the empty shelves and inflated prices.

Driving the news: Hasbro and Mattel both say they'll still meet their full-year earnings forecasts despite worsening delays at every level of the global supply chain.

  • "Price increases should cover additional expenses, leading the company to expect limited margin headwinds," Goldman Sachs' research team wrote on Hasbro in a note last week.
  • "Mattel’s price increases in 2H21 will offset cost inflation from supply chain challenges," they wrote separately.

The backstory: Pent-up demand for goods and record household wealth are continuing to translate into strong consumer spending and more corporate pricing power to cover the rising costs of materials and logistics.

  • Consumers will likely be willing to cough up the extra cash for some items, while buying fewer items overall, according to Rob Garf, VP and GM of retail at Salesforce.
  • Salesforce estimates that price increases could reach 20% this holiday season.

State of play: Companies have been pulling out all the stops to get ahead of the logistical problems.

  • Manufacturers have shipped items earlier than usual in order to build inventory, Tami Zakaria, an analyst with JPMorgan, tells Axios.
  • Some have acquired more shipping lanes, or expanded to using both the East and the West Coast ports, she adds, while also turning to airfreight ahead of big launch dates.

What to watch: Manufacturers that produce more items later in the year may find shipping costs so high that it may be uneconomical to ship from overseas, Jaime Katz, a senior equity analyst for Morningstar, tells Axios. 

The bottom line: "There’s no real answer to supply chain when the conditions are what they are," says Katz. 

Go deeper

Jan 4, 2022 - Health

The big-ticket drugs that have higher prices in 2022

Illustration: Rae Cook/Axios

Drug companies raised the prices on hundreds of medications on Jan. 1, with most prices up 5% to 6% on average.

Why it matters: The start of the new year is the most popular time for drug companies to hike prices, and even though high drug prices remain one of the biggest political health care issues, increases in 2022 are tracking in line with other recent years.

Felix Salmon, author of Capital
Jan 3, 2022 - Economy & Business

Biden's monopoly gambit

Illustration: Shoshana Gordon/Axios

Monopolies cause inflation — so cracking down on monopolies will cause inflation to decline. That's the claim of the Biden administration, anyway.

Why it matters: It's very hard to find good-faith arguments on any side of this debate. But one thing is clear: The U.S. government is currently being broadly blamed for rapidly rising prices. If inflation does decline, for any reason, then it will surely claim credit.

Scoop: Ukraine gives U.S. senators specific asks on Russia sanctions, military aid

Zelensky. Photo: John Thys/AFP via Getty Images

The chairman of Ukraine's parliament has sent a letter to eight U.S. senators outlining four specific requests for security assistance and sanctions that Kyiv believes will help deter a Russian invasion, Axios has learned.

Why it matters: The Ukrainian government is leaning on Congress — and a bipartisan group of senators negotiating compromise language on sanctions that could pass the Senate — in an effort to push the U.S. posture beyond the Biden administration's approach.