headlines...by halloapp

12-26-2023

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halloapp
December 26, 2023

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12-26-2023

TECH

  • The Biden administration upholds a ban on importing and selling certain Apple Watch models in the US due to a patent dispute over blood oxygen monitoring technology.

  • Intel plans to invest $25 billion in Israel, with a $3.2 billion grant from the government, to expand its chip manufacturing plant.

  • Samsung has postponed the start of mass production at its new chip facility in Texas to 2025, potentially impacting US semiconductor supplies and manufacturing ambitions.

MEDIA

  • Manchester United faces pressure after a goalless run, while billionaire Jim Ratcliffe acquires a 25% stake in the club, valued at $5.4 billion.

  • Controversial Congresswoman Marjorie Taylor Greene experienced a swatting attempt on Christmas Day, the eighth incident of its kind. She criticized the FBI’s response.

CONSUMER

  • US retail sales during the holiday season increased by 3.1%, driven by rising prices and a strong job market, but lower than expected due to higher interest rates and inflation. In the UK, Boxing Day physical spending in stores increased by 3.5% compared to last year, while in Australia, shoppers are expected to spend $1.25 billion on Boxing Day amid a cost-of-living crisis. The US economy had strong third-quarter growth due to low inflation and strong consumer spending.

  • Americans are projected to spend nearly $30 billion on gift cards this holiday season, but a significant portion will go unused. Federal law prevents expiration for five years, but some states have longer periods. It is advisable to spend gift cards quickly to avoid fees and potential loss of value. Alternatively, they can be sold on resale sites for around 70 to 80 cents per dollar. Unused gift card money in some states is returned through unclaimed property programs.

REAL ESTATE

  • Fitch Ratings predicts that despite 88% of the housing market being overvalued, home prices may increase after the Federal Reserve cuts rates in 2024.

ECONOMIC

  • Japanese government bond (JGB) yields rose by 1.5 basis points to 0.625% as traders anticipate a shift in the Bank of Japan’s interest rate policy.

CRYPTO

  • The recovery of Bitcoin is gaining momentum, however, there is still ongoing debate about its suitability for investment portfolios.

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