Prices for many Thanksgiving foods are lower this year, according to a Wells Fargo analysis. The cost of a 10-person Thanksgiving meal has decreased by 2 to 3 percent compared to last year, despite overall grocery costs remaining high.
Key Facts
Wells Fargo reports a 2 to 3 percent drop in the cost of a 10-person Thanksgiving menu.
Turkey prices from national brands have fallen by about 3.7 percent.
Stuffing, fresh cranberries, and gravy mixes are roughly 3 to 4 percent cheaper, while prepared mashed potatoes are down 1.5 percent.
Frozen vegetables have decreased in price by 15 percent.
National brand pumpkin pies have seen a 3 percent price reduction, while whipping cream prices have increased by 3 percent.
Private-label Thanksgiving meal items cost around $80, while national-brand items are about $95.
President Trump highlighted lower grocery prices, despite some items still being costly.
The American Farm Bureau Federation noted a 5 percent decrease in average Turkey meal costs, with turkey prices specifically decreasing by over 16 percent.
California's high-speed rail project plans for major milestones by 2026, as revealed by state officials. The project, which aims to connect San Francisco and Los Angeles, faces challenges such as federal funding issues but continues to push forward with construction and partnerships. New contracts and partnerships are key steps in advancing the project despite ongoing legal and funding uncertainties.
Key Facts
The California High-Speed Rail plan aims to connect San Francisco and Los Angeles.
Important 2026 goals include starting high-speed track laying and finishing 119 miles of construction work.
There is a dispute over $4 billion in federal funding related to the project under President Donald Trump's administration.
CEO Ian Choudri anticipates releasing a business plan with revenue and cost management strategies by mid-2026.
The project is seeking private partnerships and has received interest from 30 potential partners.
By the end of 2026, major infrastructure parts like civil works are expected to be mostly finished.
Legal proceedings about the federal funding are in early stages, with outcomes affecting the project's future.
Rachel Reeves, the Chancellor, has asked Labour MPs to support her upcoming Budget, which includes tax increases. She emphasized the importance of unity to have a chance of winning the next election. Her Budget focuses on reducing living costs, NHS waiting times, and debt expenses.
Key Facts
Rachel Reeves urged Labour MPs to support her Budget.
The Budget includes tax increases and will be announced on Wednesday.
Reeves emphasized the need for Labour MPs to stick together to win the next election.
Her main goals include cutting living costs, reducing NHS waiting times, and lowering debt costs.
There is concern within the Labour Party over past policy reversals and potential income tax increases.
The government decided not to pursue an increase in income tax rates, maintaining a prior election promise.
The CEO of Robinhood, Vlad Tenev, says that Gen Z is starting to think about retirement much earlier than previous generations. Surveys show that many young Americans are worried about financial security in retirement due to debts and job market issues. Gen Z aims to retire earlier and is open to the idea of retiring abroad for better financial opportunities.
Key Facts
Gen Z is opening retirement accounts as early as 19 years old.
A 2024 survey found about 20% of Gen Z are currently saving for retirement.
Many Americans, especially Gen Z, think retiring between age 65-70 is not possible for them.
Almost half of Americans are not confident in retiring comfortably.
40% of Gen Z would consider moving to another country for retirement.
Gen Z aims to retire at 59 years old on average, younger than older generations.
Financial literacy is contributing to Gen Z’s early retirement planning.
Studies show Gen Z and millennials might be better prepared for retirement than older groups.
Business owners in Sussex are concerned about tax increases and are asking the government for more support. They want changes in business rates, VAT, and employer National Insurance. The government plans to address some issues, including cutting alcohol duty and reforming licensing rules.
Key Facts
Sussex business owners await the government's second Budget following last year's tax hikes.
Rob Barr, who owns two pubs, seeks more government support for British pubs.
Business owners request reforms in business rates and VAT, and a reversal of National Insurance increases.
The government is making changes like lowering business rates and cutting alcohol duty on draught pints.
Anne Ackford from Brighton Palace Pier highlights concerns about National Insurance and minimum wage increases.
The Treasury notes the Budget will address economic challenges and focus on priorities like cutting national debt.
The U.S. government is taking action to lower ticket prices for concerts and sports events. This includes enforcing laws to stop ticket brokers from buying lots of tickets and reselling them at high prices. These efforts are causing changes in how tickets are sold and affecting companies that operate in the secondary ticket market.
Key Facts
The government's actions focus on reducing ticket prices in entertainment, not everyday items like food or medicine.
The Trump administration issued an executive order to combat unfair practices in the live entertainment ticket market.
The order enforces the 2016 Better Online Ticket Sales (BOTS) Act to prevent automated systems from buying tickets in bulk.
In September, the Federal Trade Commission filed a lawsuit against Live Nation Ticketmaster to limit bulk buying by brokers.
Ticketmaster has canceled over a million accounts that used bots or couldn't confirm buyer identity.
These government measures are impacting the business operations and stock of secondary ticket sellers like StubHub.
The goal is to make prices more fair and accessible for consumers attending concerts and sports events.
A housing analyst, Melody Wright, predicts a significant drop in U.S. home prices, potentially cutting prices by half, worse than the 2008 market correction. She notes that while high-priced homes are still selling, there is an increase in sales of lower-priced homes, which could lower the overall median home price. Concerns about investors leaving the market and the government possibly stepping in are highlighted.
Key Facts
Analyst Melody Wright predicts a severe drop in U.S. home prices, potentially worse than the 2008 downturn.
In recent months, high-value home sales continue, but sales are also increasing at the lower end of the price market.
The median home price has shown little annual growth, being just 1.2% higher than last year at $439,701.
A Zillow report states 53% of U.S. homes lost value over the past year, the highest since 2012.
Many Americans still face high home prices, property taxes, and borrowing costs, keeping them out of the market.
Wright fears a scenario where government intervention might be needed if investors pull out.
Sales of homes priced between $100,000-$250,000 are growing, possibly leading to a decrease in the median home price.
Wright refers to a prior fear about the impact of President Trump's policies on the housing market.
People across the UK are sharing their views on what changes they want in the upcoming Budget. Some want reductions in taxes like stamp duty, while others hope for increased spending on social services and public transportation. The conversations highlight the diverse financial pressures and desires of different groups, including small business owners, students, and families.
Key Facts
Wesley Thorne and his wife, who run a small business, want stamp duty eliminated to help them buy a larger house.
Stamp duty is a tax on buying property or land over a certain price in England and Northern Ireland.
Wesley and Toni's business income is about £60,000 a year, but it's affected by rising costs like sugar and chocolate prices.
Wesley would also like the VAT threshold increased for small businesses.
Liam Davidson, a student, wants free bus travel extended to students of all ages across the UK.
Fatima Tehan Jalloh, an apprentice supervisor earning £25,000, supports raising taxes if the money goes into social services like schools and housing.
Steve Williams, who makes £150,000 with his wife, supports potential new taxes on electric vehicle usage.
Becki Oliver, earning £67,000 with her family, hopes for more Budget focus on healthcare spending amidst rising living costs.
The article discusses the influence of the Office for Budget Responsibility (OBR) in the United Kingdom. There is a debate about whether the OBR has gained too much power over economic policy decisions. The OBR provides forecasts and scrutinizes government policies, which some claim limits government actions.
Key Facts
The Office for Budget Responsibility (OBR) analyzes the UK Budget and assesses government policies.
Some people argue that the OBR has too much influence on economic policy.
The OBR is staffed by civil servants and young intellectuals and operates within the Ministry of Justice building.
Critics, including some politicians and unions, suggest the OBR limits government ambitions.
The OBR is officially tasked with monitoring government spending and releasing economic forecasts.
Recent changes have given the OBR more independence and authority to produce forecasts.
The Labour government gave the OBR new powers to create forecasts without government requests, partially in response to a past economic event.
A rare first-edition Superman comic book from 1939 sold for $9.12 million, setting a new record for the most expensive comic ever sold. The comic was found by three brothers in a San Francisco attic and is one of only a few hundred believed to survive from its original print run.
Key Facts
The Superman No. 1 comic was released in 1939 and originally sold for 10 cents.
The comic book sold at Heritage Auctions in Dallas for $9.12 million.
This sale broke the previous comic book auction record of $6 million set in 2024 by an Action Comics No. 1.
The comic was found in a cardboard box in a San Francisco attic, preserved under newspapers and cobwebs.
Only a small number of Superman No. 1 copies are known to survive, with fewer than 500 likely remaining.
The comic received a high condition rating of 9.0 out of 10 from CGC, indicating excellent preservation.
Northern California's climate played a role in keeping the comic in such good condition.
The article discusses the current state of the national debt and its implications. It outlines how national debt affects the economy and why it is important for people to understand it.
Key Facts
The national debt refers to the total amount of money a country's government owes to its creditors.
National debt can affect economic policies and government spending.
As the debt grows, it can influence interest rates and economic stability.
Changes in the national debt can affect taxes and public services.
Understanding national debt helps people grasp its impact on their economy and finances.
The article discusses how various types of businesses, including gyms, pubs, and parkour facilities, are expressing their hopes and expectations. This discussion likely relates to the economic context from the Budget 2025.
Key Facts
Gyms, pubs, and parkour-related businesses are highlighted in the article.
The businesses are sharing their hopes and expectations for the future.
The context of these hopes may be related to the UK economy and Budget 2025.
The article aims to capture the sentiments and plans of different business owners.
No specific details about the Budget 2025 are provided in the content given.
The article discusses the contents of the "red box," which traditionally contains important government documents related to the UK government's financial plans and budget. It mentions Rachel Reeves, who is likely involved in the UK's budget and spending discussions.
Key Facts
The "red box" is a term used for a box containing important UK government documents.
It usually holds details about financial plans and the budget.
Rachel Reeves is mentioned in the context of UK government spending.
Florida's Attorney General is investigating Campbell Soup for allegedly violating a state law prohibiting lab-grown meat. This investigation follows a secret recording of a Campbell executive discussing negative perceptions of the company's products and bioengineered meat. The company denies using lab-grown meat in its products.
Key Facts
Florida's Attorney General, James Uthmeier, threatens to close companies violating the state's ban on lab-grown meat.
An investigation into Campbell Soup has begun following a secretly recorded conversation.
The recording includes a Campbell executive making derogatory comments about the company's products and mentioning bioengineered meat.
Campbell Soup asserts its products use real chicken from US suppliers, adhering to quality standards.
Lab-grown meat is banned in seven states, including Florida, with the law passed last year.
The recording was made by a former employee, Robert Garza, who is suing Campbell Soup for employment discrimination.
Campbell's Vice President and Chief Information Security Officer is temporarily on leave while the company investigates the claims.
The United States is urging Europe to change its taxes on big tech companies. This request is linked to ongoing negotiations over tariffs on European steel and aluminum exports to the U.S. The two sides are discussing trade terms, but they still have differences to resolve.
Key Facts
The U.S. wants Europe to reconsider digital taxes on large tech companies.
U.S. Commerce Secretary Howard Lutnick linked digital tax changes with lower steel and aluminum tariffs.
Current U.S. tariffs on European metals are set at 50%, despite prior agreements suggesting 15%.
Europe seeks tariff reductions for various products like wine, cheese, and pasta.
The U.S. believes digital service taxes unfairly target American companies.
President Trump has shown interest in reducing digital taxes, different from the approach of the previous administration.
European officials insist that digital taxes are not meant to target U.S. companies and have not agreed to negotiate these taxes.
Unimetals, a recycling company with locations across the UK, has filed for liquidation. The company is trying to manage the liquidation process safely and is working with a consulting firm for the next steps. It is not yet clear what will happen to the employees or how many jobs may be lost.
Key Facts
Unimetals is a recycling company with sites all over the UK, including London and Greater Manchester.
The company's headquarters is in Stratford-upon-Avon.
Unimetals has filed for liquidation, which means they are closing and selling off their assets.
The exact timing of when the firm will enter liquidation is still unknown.
An accelerated process to find a new buyer or investor was unsuccessful.
Consulting firm Alvarez & Marsal is assisting Unimetals with the liquidation process.
Unimetals took on this business after acquiring Sims Metal's UK-based operations in 2024.
The company is focusing on managing the liquidation responsibly and working with all involved parties.
Michael Burry, an investor known for predicting the 2008 housing market crash, has raised concerns about a potential bubble in AI similar to past economic bubbles. He argues that AI-related companies are engaging in excessive spending, reminiscent of the dot-com bubble. Burry questions Federal Reserve Chair Jerome Powell's view that such spending is justified by current company earnings.
Key Facts
Michael Burry is warning about a possible bubble formed by AI investments.
He is known for predicting the 2008 housing market collapse.
Burry compares current AI investments to the overbuilding during the dot-com bubble.
Large companies like Microsoft and Google are heavily investing in AI.
Burry believes Federal Reserve Chair Jerome Powell underestimates the risk of this bubble.
Nvidia, a major tech company, is highlighted as being central to this issue.
Nvidia recently reported a 62% earnings increase for a three-month period.
Some experts have mixed views on whether a serious AI investment correction is looming.
Stores are offering discounted or even free turkeys to attract shoppers during Thanksgiving. However, the cost of other Thanksgiving foods might be higher compared to last year. This is partly due to diseases reducing the turkey supply and general increases in food prices.
Key Facts
Old Brick Farm, a small farm in Michigan, avoided bird flu which killed over 2 million turkeys in recent months.
U.S. turkey supply is at a 40-year low due to disease, increasing wholesale prices by 44%.
Many stores are discounting turkeys despite higher wholesale prices to attract customers.
The cost of a basket of common Thanksgiving foods rose by 4.1% compared to last year.
Discount grocers like Aldi and Kroger offer lower-priced Thanksgiving meal options.
Retail prices for a 10-pound turkey have slightly decreased by 2% as of mid-November.
Avian viruses and rising beef costs contribute to increased demand and higher wholesale turkey prices.
Disney's recent control over Fubo, achieved through acquiring the company, has brought attention as it faces issues with NBCUniversal. A disagreement between Fubo and NBCUniversal led to the removal of NBC channels from Fubo, affecting its subscribers' access to popular sports events. This situation follows recent negotiations between Disney and other service providers like YouTube TV.
Key Facts
Disney acquired Fubo, integrating it with Hulu + Live TV, and now has close to 6 million North American subscribers combined.
The acquisition deal was worth $220 million with an additional $145 million loan.
NBCUniversal channels were removed from Fubo due to a disagreement over pricing terms.
Fubo called NBCUniversal's pricing "egregiously above" what others pay, but NBCUniversal said its offer was standard.
The blackout affects viewers' access to major sports events unless they switch to other services.
Fubo offered a $15 credit to affected subscribers if the blackout continues for an extended time.
Fubo is known for tough negotiations, having previously dropped Warner Bros. Discovery networks in 2024.
The Fubo-NBCUniversal issue is smaller in scale compared to a previous Disney-YouTube TV dispute.
