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How the three-year cruise fell apart
  + stars: | 2024-01-20 | by ( Julia Buckley | ) edition.cnn.com   time to read: +22 min
CNN —In April 2023, George Fox was gearing up for the adventure of a lifetime: a three-year cruise taking him around the world. The high hopes and eventual failure of the Life at Sea cruise reads a bit like a Greek tragedy. When Miray objected, he resigned, along with much of his team, and told passengers the cruise was off. When the cruise was canceled in November, Bayramoğlu told passengers that only 111 cabins were booked. On October 24, Miray’s PR spokesperson told CNN that the departure date had been moved to November 30.
Persons: CNN —, George Fox, , , , Miray, who’d, Meredith Shay, Shay, she’d, Jenny Phenix, I’d, Mikael Petterson, Petterson, “ I’ve, Ethem, Miray’s, “ Vedat, ’ ”, Vedat, Cruises, hadn’t, Kendra Holmes –, , Petterson –, they’d, Bayramoğlu, Sharon Lane, she’s, ” Shay, ” Holmes, Marit Hommedal, NTB Scanpix, Noel Hansen, Kendra Holmes, Hansen, ’ ” Hansen, ’ Rebecca Varner, Lorna Bolduc, Rebecca Varner, Holmes, Bonnie Kelter, Kelter, Varner, Ugurlu, Phenix, “ I’m, couldn’t, ’ George Fox, he'd, Bolduc, Miray’s Bayramoğlu, ” Miray, who’s, ” Hansen Organizations: CNN, Fox, Miray Cruises, Cruises, Passengers, Gemini, Carnival, Facebook, Life, Getty, US Foreign Service, , Miray’s, , Miray Locations: Istanbul, , Turkey, Florida, Germany, Bayramoğlu, Petterson, AFP, Clermont , Florida, Costa Rica, New Jersey, Maine, that’s, Miami, Europe, Ecuador, Southern Florida
New York CNN —Retailers are projecting slower growth this holiday shopping season as inflation, higher borrowing costs, and the resumption of student loan repayments cause many consumers to pull back. The government reported that strong consumer spending drove the economy to a robust 4.9% annual growth rate in the July-September quarter. Consumer confidence dropped for the third consecutive month despite the booming economy. The resumption of student loan repayments last month after a three-year pause could also impact consumer spending. “Student loan repayments will diminish the already dwindling savings among younger households,” Moody’s said in a report this week.
Persons: Matthew Shay, ” Dana Peterson, “ Consumers, , ” Moody’s, ” Shay Organizations: New, New York CNN — Retailers, National Retail Federation, , Consumer, Conference Board, Consumers Locations: New York, splurging
Holiday online are forecast to increase between 10% and 12% to between $262.8 billion and $267.6 billion, up from $238.9 billion in 2021, the group said. This has helped jump start holiday sales ahead of schedule and could support more sales increases in coming weeks.. But other forecasts for holiday sales suggest there may be a big pullback on gift shopping in the weeks ahead. Consulting firm Deloitte expects retail sales in November, December and January – when Christmas gift cards are redeemed – to increase only 4% to 6%. That compares unfavorably with last year’s robust 15.1% increase, but this year’s expected slower growth is in line with where holiday retail sales were trending pre-pandemic.
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