The president is using Monday's event to announce 30 actions to improve ...
Quick Glance: Biden Criticizes Trump and GOP
- The president criticized Republicans and former President Trump for actions that could jeopardize the supply chain, including undoing his achievements and seeking to replace ObamaCare.
- The president announced 30 actions to improve access to medicine and economic data.
- The council is to strengthen the supply chain during the 2023 holiday season, following significant issues during the COVID-19 pandemic.
- Biden referenced a Truth Social post from Trump in the meeting, in which the former president revived calls to repeal and replace the Affordable Care Act if he wins the 2024 election.
Quick Glance: Blackburn's Debut Christmas Tree Festival Delights Town
- The iconic King William Street venue, undergoing a £9million redevelopment, showcased a stunning display celebrating Christmas's past, present, and future.
- St. Stephen’s Tockholes C E Primary School's 1920s inspired tree, adorned with flapper girl ornaments, was the first chosen creation.
- The Mayor was wowed by the 1980s themed tree decorated with records of 80s hits, created by the children and staff at St. Paul’s RC Primary School in Feniscowles.
- Feniscowles Primary School children decorated a 1930s tree with toilet brushes after learning that Addis Brush Company created the first artificial Christmas tree in the 1930s.
How will America’s economy fare in 2024? Don’t ask a forecaster : The consensus is that there is no consensus
Quick Glance: The Future of America's Economy in 2024
- Thanksgiving kicks off the holiday season.
- Large investment banks release extensive forecast research.
- Significant disparities in growth and inflation predictions.
- Various scenarios for growth and inflation are being discussed.
Quick Glance: Black Friday Battle: Retailers vs. Shoppers
- Are the season deals enticing enough for shoppers, or are they holding out in a cat-and-mouse game with retailers?
- Early shopping trends indicate steady store visits on Black Friday, but not in a frenzy.
- Michael Brown, retail industry leader and partner with management consulting firm Kearney, suggested the much earlier-than-usual start to holiday sales could be to blame.
- While foot traffic was 'good' into stores, discounts were averaging in the 25% to 30% range.
RETAIL THERAPY: What could be driving record spending: trib.al/OuSQH1e
Quick Glance: Holiday Sales Surge Driven by Enthusiastic Shoppers
- Black Friday saw unadjusted year-over-year increases in both in-store and online retail sales.
- In-store sales jumped by over 1%, while e-commerce led with an 8.5% increase.
- The majority of shoppers did their browsing and purchasing on their mobile devices, resulting in $5.3 billion in mobile sales.
- Adobe predicts that Cyber Monday will be the largest retail event of the year, generating a record $12 billion in sales, over 6% higher than last year.
Quick Glance: Controversy Surrounding RBA Chief's Remarks
- The RBA governor is facing criticism for controversial statements regarding the cause of high inflation.
- Implications of further interest rate hikes to combat 'homegrown' inflation are being made.
- Previous RBA chief made headlines with 'out-of-touch' public statements during the rate increases.
- This month, the RBA raised the official cash rate to a 12-year high of 4.35 per cent.
Quick Glance: Black Friday Disappoints UK Shoppers
- Sales in cash terms are expected to be on a par with 2022, but prices are higher due to inflation, meaning fewer items will be sold.
- Online activity was flat and footfall at shopping destinations was down by more than 5%.
- Black Friday is no longer a single-day event, but now starts in November and runs for several weeks.
- Some retailers saw a slight uplift, but sales are only expected to increase by 0.4% over last year, according to analysis by GlobalData for Vouchercodes.co.uk.
Quick Glance: US Economy: Why Americans Remain Gloomy Despite Decreasing Inflation and Low Unemployment
- Majority of Americans express dissatisfaction with Biden's economic management in polls.
- Prices for many goods and services remain significantly higher than three years ago despite the cooling inflation.
- Inflation rate is decelerating.
- Many Americans still feel the effects of inflation.
Quick Glance: Generational Impact: Rising Cost-of-Living Dynamics
- Retirees in Australia are increasingly allocating funds to travel and dining out despite escalating cost-of-living pressures, while under-30s have dramatically curtailed their expenses.
- Differential effects of interest rates and inflation on different segments of the Australian population.
- CommBank iQ's study indicates that individuals over 65 have shown a higher increase in their expenses compared to inflation until September 30, whereas those under 40 have reduced their spending.
- Wade Tubman, Head of Innovation and Analytics at CommBank iQ, underscores distinctive spending variations across generations.
Quick Glance: Jeremy Hunt Plans Tough Decisions on Benefits and Inheritance Tax
- Chancellor Jeremy Hunt plans difficult decisions to reform the welfare state while cutting inheritance tax.
- Hunt emphasizes no easy way to reduce the tax burden and highlights the importance of the inflation decline.
- He announces it is the crucial moment for economic growth and refuses to disclose details about tax cuts.
- It is expected that Hunt is considering a cut to inheritance tax to gain party support.
Quick Glance: Bidenomics: Impact on the American Economy
- President Joe Biden travels to Pennsylvania.
- Bidenomics, initially aimed at 'restoring the American Dream,' is proving to be counterproductive.
- There are varying reports on the macro-level economic development.
- The average credit card balance is now $6,000, higher than in the past decade.
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