04:13
Trump announces Israel-Iran ceasefire
U.S. President Donald Trump says Iran and Israel have agreed to a complete ceasefire that will end the 12-day war between the two countries.
U.S. Holiday Sales Exceed Forecast Amid Discounts and Digital Growth
Reuters
A last-minute shopping surge and heavy discounts drove U.S. holiday sales higher than expected, rising 3.8% from last year, according to Mastercard SpendingPulse.
Holiday retail spending in the U.S. from November 1 to December 24 exceeded prior forecasts, reflecting strong consumer activity despite inflation and higher interest rates. The 3.8% year-over-year increase underscores continued resilience among shoppers, Mastercard SpendingPulse reported.
However, retailers noted a shift in consumer behavior. Describing customers as “selective” and “cautious,” many stores leaned heavily on promotions to attract buyers. Major chains such as Walmart extended price cuts through rollbacks, while Target intensified its promotional campaigns to maintain shopper interest. Dollar General, Kroger, and Five Below also slashed prices to remain competitive, acknowledging the pressure on profit margins.
E-commerce outpaced physical store sales growth, continuing a digital-first shopping trend. Online sales grew at double the rate of in-store purchases, as consumers increasingly opted for convenience. Retailers embraced generative AI tools to enhance customer service and product discovery, while improving curbside pickup and delivery services to streamline the shopping experience.
“Digital innovation and customer-centric strategies played a pivotal role in shaping this holiday season,” noted Steve Sadove, senior adviser to Mastercard and former CEO of Saks.
Despite economic challenges, the 2024 holiday season highlights both the adaptability of retailers and the enduring spending power of American consumers.
20:37
Middle East Tensions
Iran fires missiles at U.S. base in Qatar, one missile strikes the base
Iran launched 18 ballistic missiles late Sunday targeting the U.S. military’s Al-Udeid Air Base in Qatar, the largest American installation in the Middle East.
16:51
Tensions near Hormuz force tankers to turn back, oil prices spike
Following U.S. military strikes on Iran, at least two supertankers reversed course near the Strait of Hormuz, reflecting heightened fears of disruption in one of the world’s most vital oil shipping lanes.
15:36
U.S. Embassy in Qatar urges Americans to shelter amid Iran-Israel tensions
The U.S. Embassy in Qatar has advised American citizens to shelter in place amid rising tensions between Israel and Iran, as part of a broader global security alert issued by Washington.
13:32
Iran fights back: Sends top diplomat to Moscow, writes protest letters to IAEA, U.S.
Iran has doubled its diplomatic efforts to fight back the military attacks by Israel and the US on its nuclear sites as Foreign Minister Abbas Araghchi arrived in Moscow on Monday for high-level talks with the Russian officials.
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