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The land below many U.S. cities is sinking, including New Orleans, New York City, Miami and south San Francisco. This phenomenon, known as land subsidence, can severely affect the integrity of buildings and infrastructure. Problems associated with land subsidence can cost U.S. homeowners 6% of their home value. Their research focused on the Central Valley of California, but Nemati said the findings could be extrapolated nationwide. Consumers are likely to see the effect of land subsidence directly, in the form of problems with their home, and indirectly, in the form of issues for their local economy.
Persons: Mehdi Nemati, Nemati Organizations: University of California, Finance Locations: U.S, New Orleans , New York City, Miami, San Francisco, Riverside, Valley of California
But the program has since moved to another station, and its legacy in San Diego is a faint, fond memory. AdvertisementWith such a rich history of aerial dynamism, it's no surprise that San Diego has become a major hub of this technology. Defense, AI, and a warming reception from VCsLong before AI became a household buzzword, Shield AI launched in San Diego. AdvertisementBut San Diego seemed to be a better fit with its access to open land and proximity to the ocean. That pipeline continues to feed into the San Diego tech ecosystem, feeding and driving the aerial innovation it has become known for over a century.
Persons: , Tom Cruise, Larsen Jensen, Palmer Luckey's Anduril, Brandon Tseng, VCs Long, Tseng, Ryan, presciently, Hivemind, It's, shouldn't, Jensen, Ian Muceus, Muceus, we've, Firestorm's, Firestorm, Glenn Curtiss, Grant Jordan, Andreessen Horowitz, — Jordan, Jordan, SkySafe, Tim Draper, Aleksey Matyushev, Matyushev, Oakland — Natilus, Natilus, General Atomics, Northrop Grumman, Lockheed Martin Organizations: Service, Kawasaki Ninja, hotshot Navy, US Naval Air Station, Business, Navy, Harpoon Ventures, Defense, aha, Navy SEAL, US Department of Defense, Coast Guard, Air Force, Marine Corps, BAT, SpaceX, Marque Ventures, Silent Ventures, US Navy, Soma, Oakland, San Diego International Airport, Brown Field Municipal, Northrop, Lockheed Locations: San Diego, Miramar, Diego's, Diego, Afghanistan, Persian, Israel, Caribbean, Bay, San Diego Bay, West, San Jose, San Francisco, Central Valley, Vallejo, Kona
When Farwa Ali and her family wanted to buy a bigger home, Mountain House, Calif., seemed to check all of their boxes. The fast-growing community, just 40 miles inland from where they were living in the San Francisco Bay Area, offered good schools, a diverse population and dozens of large houses for sale within their budget. It seemed to be a perfect match — at least until their first summer, when the scorching temperatures of California’s Central Valley set in. “We never had an idea that it would be this hot,” Ms. Ali said on Tuesday as she darted through a grocery store parking lot where the temperature was well over 100 degrees.
Persons: Farwa Ali, , Ms, Ali Organizations: Calif, San Francisco Bay Area Locations: House, San Francisco Bay
Keenan said he's loved the peace and nature of Costa Rica after spending most of his life in Albuquerque. During his time with the insurance company, he attended a retreat in Playa Zancudo, located in the south of Costa Rica. After these visits, he knew he wanted to retire in Costa Rica to live an "easygoing" life far from the US. AdvertisementCosta Rica is more expensive than he thoughtKeenan said that when he first moved to Costa Rica, prices were cheaper than in the US but not by too much. AdvertisementHe never bought a house, as he said the process can take years in Costa Rica.
Persons: Gary Keenan, Little, Keenan, he's, it's, Costa Rica Keenan, José, hasn't, Kelley Organizations: Service, Business, Google, Costa Locations: New Mexico, Costa Rica, Albuquerque, America, Costa, Playa Zancudo, Playa Grande, Guanacaste, Europe, France, José, San Pedro, capital's, Santa Ana, San José, Costa Rican, Panama, Argentina, expats
Business Insider spoke to five Americans who moved to Latin America, many for their retirements. All agreed that life is in many ways better in Latin America than in the US. She said she feels more welcome in Costa Rica than in Illinois, even with a language barrier. Gary Keenan, 71, disagrees that Costa Rica is cheaper than the US, though he's fine paying the upcharge. Living and working in natureMoving to Latin America has allowed some Americans to advance their careers and retirement goals while living a more serene life.
Persons: , Janet Sussman, Sussman, " Sussman, Cheryl Sands, didn't, she'd, it's, Sands, she's, Gary Keenan, Keenan, Jose Rodriguez, He's, Andy Wiesmann, Medellín, he's, Wiesmann Organizations: Service, Business, Illinois -, Social Security, Costa Rica, US Locations: Florida, New York, Panama, Airbnbs, Latin America, America, Illinois, Illinois - Kentucky, Costa, Guanacaste, Costa Rica, New Mexico, Central, San Jose, Chicago, São Paulo, Brazil, Medellín, Colombia, Inland, Mexico, California, United States, South America
A view of transmission towers in flames as Corral Fire continue in San Joaquin County, California, United States on June 2, 2024. "It's coming early," said Eric Kurth, a meteorologist with the National Weather Service in Sacramento, California. The forecast suggests temperatures may climb to 113 degrees Fahrenheit in Phoenix and could reach 108 in California's Central Valley. The National Weather Service is forecasting a heat wave throughout much of the Southwest and parts of California from Tuesday through Thursday as a ridge of high pressure centers over the region. Following a bout of extreme pre-summer heat in Texas and Florida , California and Arizona are next in line for temperature spikes.
Persons: It's, Eric Kurth, Cecile Juliette, Kurth Organizations: National Weather Service, Fire, California Department of Forestry, Atmospheric Administration, Southwest, Associated, for Disease Control, AP Locations: San Joaquin County , California, United States, Sacramento , California, Phoenix, Central Valley, California, Texas, Florida , California, Arizona, Tracy , California, San Francisco, U.S, Maricopa County
Here’s what to expect in the affected areas:In California, areas from outside Los Angeles to Redding, more than 500 miles north, were set to be under an excessive heat watch from as early as Tuesday morning through Thursday evening, forecasters said. Abnormally high temperatures were also expected in the San Francisco Bay Area. The National Weather Service in Hanford, Calif., in the Central Valley, warned of “dangerously hot conditions” in the region, where farmers grow a big share of the United States’ fruit, vegetables and nuts. The extreme heat is expected to last through Thursday night.
Organizations: San Francisco Bay Area, National Weather Service, United Locations: California, Los Angeles, Redding, San Francisco Bay, Hanford, Calif, Central, United States
At least 13 people have been killed and 21 are missing after heavy rains drenched southern Brazil, prompting a state government to send rescue helicopters in search of stranded residents, the authorities said on Thursday. The torrential rains that poured over the state of Rio Grande do Sul in recent days were well above normal for this time of year, according to experts. The rains swelled rivers across the state’s low-lying central valley region, flooding towns, causing a bridge to collapse, blocking roads and setting off mudslides. One town, Canudos do Vale, was left isolated with no electricity or communication. In the town of Candelária, residents awaited rescue helicopters on the roofs of their flooded homes.
Organizations: National Institute of Meteorology, The New York Times Locations: Brazil, Rio Grande do Sul, Canudos, Candelária
Shares of Levi Strauss surged 18% on Thursday after the retailer raised its full-year profit guidance and posted holiday earnings that beat expectations. Late Wednesday, Levi's announced its fiscal first quarter earnings and said it expects adjusted earnings per share for fiscal 2024 to be between $1.17 and $1.27, up from a previous range of $1.15 to $1.25. As part of the project, Levi's cut about 12% of its global workforce. It also exited its Denizen business, which comes at a lower margin, and has relied less on aggressive discounting to drive sales. It's also seeing record amounts of sales happening online and through its own shops instead of through department stores like Macy's and Kohl's , which come at a lower margin.
Persons: Levi Strauss, Levi's, it's, that's, It's, Harmit Singh Organizations: Woodbury Locations: Central Valley , New York, U.S
And it is in these districts, from the Central Valley to the outskirts of Los Angeles and down to Orange County, where the House majority will likely be won or lost in 2024. Republicans currently hold a slim 218-seat majority, a precarious position for the party as the 213-member House Democratic Caucus works to flip the chamber this year. Tom Williams/CQ-Roll Call, Inc via Getty ImagesKen Calvert, 41st DistrictFirst elected to the House: 1992AdvertisementCalvert is the longest-serving California Republican in Congress. Calvert won most of his races by large margins before redistricting, and he last faced a truly competitive reelection fight in 2008. Valadao's return to Congress was overshadowed by his decision to become one of 10 House Republicans to vote to impeach President Donald Trump in the aftermath of the Capitol riot.
Persons: , Kevin McCarthy —, Joe Biden, Young Kim, Bill Clark, Kim, Ed Royce, Gil Cisneros, McCarthy, Cisneros, Biden, She'll, Joe Kerr, Michelle Steel, Harley Rouda, Rouda, Dana Rohrabacher, Steel, Jay Chen, Derek Tran, Mike Garcia, Tom Williams, Garcia, Katie Hill, Christy Smith, Smith, George Whitesides, Ken Calvert, Calvert, he's, Will Rollins, Rollins, John Duarte, Duarte isn't, Duarte, Jim Jordan's, Jordan, Mike Johnson of, Democrat Adam Gray, Gray, David Valadao, Valadao, TJ Cox, Valadao's, Donald Trump, Rudy Salas, Salas Organizations: Service, Golden State, Business, Republicans, Democratic Caucus, Inc, Getty, California State Assembly, GOP, Democratic, Navy, Biden, NASA, onetime Virgin Galactic, District, California Republican, Republican, House Democrats, Democrat, Trump, Democratic Rep, Capitol Locations: California, Bakersfield, Golden, Los Angeles, Orange County, Orange, Riverside, San Bernardino, Steel, Los Angeles County, Riverside County, Congress, Inland, Corona, Mike Johnson of Louisiana
This as-told-to essay is based on a conversation with Grayson Stewart, the winemaker for The Dreaming Tree from Sanger, California. AdvertisementI've been the full-time winemaker for The Dreaming Tree, the wine label of Dave Matthews of the Dave Matthews Band, since March 2022. I jumped at the opportunity to work with Dave and his labelDave Matthews with The Dreaming Tree wine. Here's how we make our sustainable wineThe Dreaming Tree is now fully sustainable, from the wine inside the bottle to the bottle itself. My friends send me pictures of The Dreaming Tree on store shelves, letting me know that they're trying the wine, which is really cool.
Persons: Grayson Stewart, I've, Dave Matthews, Dave, Dave Matthews Band's, We've, we're, Dave Stewart, Matthews Organizations: Service, Business, Wine, Dave Locations: Sanger , California, Central, Napa, California, There's, Nature
LOS ANGELES (AP) — County Sheriff Mike Boudreaux is advancing to a May election in California to decide who will complete the remainder of the term of deposed former U.S. House Speaker Kevin McCarthy, which runs through January. Boudreaux will face state legislator Vince Fong in the May 21 special election in the 20th District. Boudreaux is the Sheriff of Tulare County in the state’s Central Valley. Republicans are expected to easily hold the seat, and the party’s fragile majority in the chamber was not at stake in Tuesday’s election. The district, which cuts through the Central Valley farm belt including parts of Bakersfield and Fresno, is the most strongly Republican House seat in heavily Democratic California.
Persons: Mike Boudreaux, Kevin McCarthy, Boudreaux, Vince Fong Organizations: ANGELES, U.S ., Republicans, Republican, Associated Press Locations: — County, California, 20th, Boudreaux, Tulare County, Bakersfield, Fresno, Democratic California
Republicans are expected to hold the seat easily, and the party’s fragile majority in the chamber is not at stake. The district, which cuts through the Central Valley farm belt including parts of Bakersfield and Fresno, is the most strongly Republican seat in heavily Democratic California. Fong and Boudreaux have advanced to the November election in that contest. The special election only covers the time remaining in McCarthy’s term, running through early next year. But there is an insider-outsider aspect to the race: Fong is McCarthy's handpicked choice and a product of his political operation, while the sheriff is not.
Persons: Donald Trump, Kevin McCarthy, Vince Fong, McCarthy, Mike Boudreaux, Joe Biden, , Fong, Marisa Wood, Boudreaux, Boudreaux's, ” Fong, Ryan Gardiner, Trump, , Ric Grenell, Sen, Shannon, McCarthy's Organizations: ANGELES, GOP, Republicans, Republican, Trump Locations: California, Tulare County, Bakersfield, Fresno, Democratic California, Shannon Grove, Kern County, Tulare, Kings, Fresno County
“Go, go, go” said her driving instructor, as she slowed down through an open intersection. Don’t stop.”Her teacher was Gil Howard, an 82-year-old retired professor who happened upon a second career as a driving instructor. In Modesto, Calif., he is the go-to teacher for women from Afghanistan, where driving is off limits for virtually all of them. In recent years, Mr. Howard has taught some 400 women in the 5,000-strong Afghan community in this part of California’s Central Valley. Gil,” as he is known in Modesto, more Afghan women likely drive in and around the city of about 220,000 than in all Afghanistan.
Persons: , Gil Howard, Howard, Mr, Gil Locations: Modesto, Calif, Afghanistan, Central Valley
What to watch for on Super Tuesday
  + stars: | 2024-03-05 | by ( Gregory Krieg | Eric Bradner | ) edition.cnn.com   time to read: +15 min
Here are 9 things to watch for:The night the lights go out on HaleyBarring a stunning upset – actually, multiple stunning upsets across the country – Super Tuesday is looking like the end of the road for Haley. While Haley has said she would stay in the race through at least Super Tuesday, she has not hinted at an exit. A North Carolina governor’s race with implications up and down the ballotOn a Super Tuesday with an unusual lack of spice, the North Carolina gubernatorial primary is a rare exception. Mark Robinson and Democratic state Attorney General Josh Stein are expected to coast to their parties’ respective nominations. Down-ballot in Texas, there’s more to watch, starting with the payback campaign of Attorney General Ken Paxton.
Persons: Joe Biden, Donald Trump, Biden, Trump, Nikki Haley, Trump’s, Dianne Feinstein, Haley, , Liz Cheney, she’s, , specter, MAGA, Barack Obama, Mark Robinson, Josh Stein, Robinson, Stein, Roy Cooper, Beto O’Rourke’s, Republican Sen, Ted Cruz, Colin Allred, Cruz, Sen, Roland Gutierrez —, Allred, , outraising Cruz, Ken Paxton, Paxton, Dade Phelan, He’s, Dianne Feinstein —, Laphonza Butler, Steve Garvey, Adam Schiff, Schiff, Katie Porter, Barbara Lee, Garvey hasn’t, Garvey, Jerry Carl, Barry Moore, Moore, Marjorie Taylor Greene, Carl, Steve Scalise, It’s, Terri Sewell, David Valadao, Michelle Steel, Young Kim, Ken Calvert’s, Katie Porter’s, Scott Baugh, Josh Harder’s, Mike Levin’s, London Breed, George Gascon, CNN’s Simone Pathe, Fredreka Schouten Organizations: CNN, South Carolina Gov, Trump, California Senate, Democrats, Haley, Trump Republicans, Wyoming, GOP, Democratic, MAGA Republicans, Virginia, North, North Carolina Republicans, Carolina governor’s, North Carolina, Republican, Gov, Texas Democrats, Cruz, NFL, Affordable, Texas Legislature, Senate, Democrat, Alabama, showdowns, 2nd, Caucus, Georgia, Louisiana Rep, Chamber of Commerce, California House, Rep, London, Supervisors, District Locations: Alaska, California, Colorado , Minnesota, North Carolina, Alabama, Gaza, Minnesota, South Carolina, Virginia, Carolina, Texas, San Antonio, Uvalde, Tuesday’s, Florida, Montana , Ohio, West Virginia, Arizona, Michigan, Nevada , Pennsylvania, Wisconsin, Orange County, Francisco, Los Angeles
Standing on the grand staircase of Lynda and Stewart Resnick's opulent Beverly Hills mansion at a party last fall — where Diane Keaton, Bob Iger and Brian Grazer were among the luminaries making small talk over crudités and Sazerac cocktails — the author Walter Isaacson took a moment to thank his hosts. Not only were the Resnicks giving the party to celebrate his new biography of Elon Musk, they had also been major supporters of his former professional home, the Aspen Institute, donating $36 million to the think tank over the years. Isaacson was not the only one in the room with reason to be grateful to them. Overall, the Resnicks — whose Wonderful Company business empire includes Pom Wonderful pomegranate juice, Wonderful Pistachios, Fiji Water, Halos mandarins and Teleflora, the flower-delivery service — have donated $1.9 billion of their estimated $13 billion fortune to academic institutions, climate change initiatives, cultural organizations and programs in California’s Central Valley. Their gifts have landed them on the Chronicle of Philanthropy’s annual list of the 50 biggest donors three times.
Persons: Stewart, Diane Keaton, Bob Iger, Brian Grazer, Walter Isaacson, Elon Musk, Isaacson, Picasso, Fragonard, Boucher, Michael Govan, Ann Philbin, Michael Milken Organizations: Aspen Institute, Angeles County Museum of Art, Milken Institute, Wonderful Company Locations: Beverly, Fiji, Central Valley
The leading Democrat in the primary is George Whitesides, a former NASA chief of staff supported by the campaign arm of House Democrats. A STRONGLY DEMOCRATIC DISTRICT THAT VOTES REPUBLICANThe Central Valley farm belt is a political conundrum. Gray, who is backed by the campaign arm of House Democrats, argues that his party can’t reclaim the House majority without winning his district. Rollins, who is backed by the campaign arm of House Democrats, says it's time for new leadership and has depicted Calvert as an extremist. “House Democrats are ready to find common ground and a bipartisan path forward.”
Persons: Richard Nixon, Ronald Reagan, hasn’t, Joe Biden, , Gavin Newsom, Donald Trump, Newsom, ” Newsom, Trump, Mike Garcia, Garcia, — Garcia, George Whitesides, He's, , Katie Porter, Scott Baugh, Porter, Sen, David Min, Joanna Weiss, David Valadao, Democrat T.J, Cox, Rudy Salas, Valadao, Salas, Chris Mathys, Melissa Hurtado, Republican John Duarte, Democrat Adam Gray, Gray, Ken Calvert, Will Rollins, Calvert, Rollins, Michelle Steel, Kim Nguyen, Derek Tran, Steel, Mike Levin, Levin, Organizations: ANGELES, , Republican, Democratic, GOP, White House, LA COUNTY, District, Navy, Trump, California’s, Los Angeles, NASA, Democrats, REAGAN, Orange, “ Reagan, U.S, Senate, Central, Republicans, Democrat, CENTRAL, ANGELES Rep, SOUTH, Republican Rep, Capitol, Steel, Democratic Party, Hamas, American, DEMOCRAT, DISTRICT, Biden, Marine, Base, Congress, Locations: California, Southern California, rematches, Washington, Democratic Los Angeles County, Los Angeles, Mexican, Central, Salas, Palm Springs, Korean, Capitol Hill, Orange County, Israel, Orange, San Diego, Coastal California, Pendleton
LOS ANGELES (AP) — Extreme heat and wildfire smoke are independently harmful to the human body, but together their impact on cardiovascular and respiratory systems is more dangerous and affects some communities more than others. A study published Friday in the journal Science Advances said climate change is increasing the frequency of both hazards, particularly in California. The authors found that the combined harm of extreme heat and inhalation of wildfire smoke increased hospitalizations and disproportionately impacted low-income communities and Latino, Black, Asian and other racially marginalized residents. Homes and work places with air conditioning and neighborhoods with tree canopy cover are better protected from extreme heat, and some buildings filter smoke from wildfires and insulate heat more efficiently. “For a variety of reason, they tend to feel climate change much worse than other non-underserved communities, and I think it's really important to highlight this social injustice aspect of climate change,” said the emergency physician and fellow at the Harvard T.H.
Persons: , Tarik Benmarhnia, Benmarhnia, Christopher T, Minson, it’s, Catharina Giudice Organizations: ANGELES, Scripps Institution of Oceanography, University of California, UCLA Fielding School of Public Health, UC San Diego, University of Oregon, Environmental Protection Agency, University of Southern, Harvard, of Public Health, National Weather Service, Associated Press, Walton Family Foundation, AP Locations: California, San Diego, United States, Oregon, Washington, Canada, British Columbia, Central Valley, Central, University of Southern California, Los Angeles, Chan
California poultry farms are implementing strict biosecurity measures to curb the spread of the disease. So we’ve got to be as vigilant as possible to protect our birds,” said Bill Mattos, president of the California Poultry Federation. Climate change is increasing the risk of outbreaks as changing weather patterns disrupt the migratory patterns of wild birds, Pitesky said. For example, exceptional rainfall last year created new waterfowl habitat throughout California, including areas close to poultry farms. “I’m very concerned because this avian flu is transmitted by wild birds, and there’s no way I can stop the wild birds from coming through and leaving the disease behind,” Peterson said.
Persons: Mike Weber, , , Weber, Annette Jones, we’ve, Bill Mattos, Maurice Pitesky, Pitesky, Rodrigo Gallardo, Gallardo, Ettamarie Peterson, I’m, ” Peterson, Weber’s, ” Weber, they’ve, “ We’re Organizations: , Sunrise, California Poultry Federation, San Francisco Bay Area, U.S . Department of Agriculture, University of California, USDA . Industry, UC Davis Locations: PETALUMA, Calif, Sonoma County, San Francisco, Petaluma, California, Midwest, Merced County, Central California, San Francisco Bay, U.S, Turkey, Australia, Davis, North Coast, Central Valley
East Stroudsburg, Pennsylvania, has the longest average commute time at 36.2 minutes one way. The New York City metro area ranked second, while four California cities were in the top eight. Data from the U.S. Census Bureau shows that residents of East Stroudsburg, a city about 40 miles north of Allentown in Pennsylvania, have the longest commute times of any metro area. The average commute time in East Stroudsburg — sometimes considered the gateway to the Poconos — may be the longest since residents often work in larger metropolitan cities like New York City, Allentown, or Philadelphia. The Riverside-San Bernardino-Ontario area similarly has commute times of nearly 33 minutes as it's near the Los Angeles area.
Persons: Organizations: New, Service, U.S . Census Bureau, Jersey City, Apple, Cambridge Locations: Stroudsburg , Pennsylvania, New York City, California, East Stroudsburg , Pennsylvania, U.S, East Stroudsburg, Allentown, Pennsylvania, New York, Newark, Jersey, East Stroudsburg —, Philadelphia, Jersey City, York, Stockton, Central, Sacramento, Riverside, San Bernardino - Ontario, Los Angeles, Yuba City, Washington, DC, Arlington, Alexandria, Chicago, Naperville, Elgin, San Francisco, Oakland, Berkeley, Boston, Houston, Great Falls , Montana, Lewiston , Idaho, Manhattan , Kansas, Casper , Wyoming
An investigation into nearly 1,700 aquifers across more than 40 countries found that groundwater levels in almost half have fallen since 2000. Only about 7 percent of the aquifers surveyed had groundwater levels that rose over that same time period. The new study is one of the first to compile data from monitoring wells around the world to try and construct a global picture of groundwater levels in fine detail. The declines were most apparent in regions with dry climates and a lot of land cultivated for agriculture, including California’s Central Valley and the High Plains region in the United States. The researchers also found large areas of sharply falling groundwater in Iran.
Locations: Valley, United States, Iran
Holiday sales rose 3.8% year over year to $964.4 billion, according to the National Retail Federation, as consumers spent on gifts and celebrations even after enduring a prolonged period of higher prices. The holiday sales total was not adjusted for inflation and included both in-store and online purchases. "Consumer spending was remarkably resilient throughout 2023 and finished the year with a solid pace for the holiday season," he said in a news release. Online sales and other nonstore sales rose 8.2% year over year. Average sales growth during the holiday season was 3.6% from 2010 to 2019, according to NRF data.
Persons: NRF, Jack Kleinhenz Organizations: Woodbury, National Retail Federation, Commerce Department, CNBC, NRF, Retail, Electronics, Federal, Abercrombie, Fitch, Eagle Outfitters, CNBC PRO Locations: Lacoste, Central Valley , New York, Lululemon
Consumer spending has remained remarkably resilient in the face of some stiff economic headwinds. Nearly all Americans, 96%, are concerned about the current state of the economy, according to a recent report by Intuit Credit Karma. Still, more than a quarter are "doom spending," or spending money despite economic and geopolitical concerns, the report found. This season, holiday spending is expected to reach record levels, totaling up to $966.6 billion, the NRF projects. Rather than cut expenses, 73% of Gen Zers say they would rather live in the moment, a recent Prosperity Index study by Intuit found.
Persons: Courtney Alev, Gen Zers Organizations: Nike, Woodbury, Intuit Credit Karma, National Retail Federation, Finance, Intuit, Bank of America Locations: Central Valley , New York, U.S
US Black Friday sales rise 2.5% -Mastercard Spendingpulse
  + stars: | 2023-11-25 | by ( ) www.reuters.com   time to read: +1 min
REUTERS/Vincent Alban Acquire Licensing RightsNov 25 (Reuters) - Mastercard (MA.N) Spendingpulse said on Saturday that U.S. retail sales on Black Friday rose 2.5% year-over-year excluding automotive sales, not adjusted for inflation. In September, Mastercard SpendingPulse, which measures in-store and online retail sales across all forms of payment, said it anticipated U.S. retail sales, excluding automotive, to grow 3.7% during the holiday season, running from Nov. 1 through Dec. 24. Black Friday refers to the day after the U.S. Thanksgiving holiday, when retail sales are traditionally strong. E-commerce sales on Friday increased by 8.5% year-over-year as consumers shopped for deals online, while in-store sales increased by 1.1%, MasterCard Spendingpulse said. Reporting by Gursimran Kaur in Bengaluru Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.
Persons: Vincent Alban Acquire, Spendingpulse, MasterCard Spendingpulse, Gursimran Kaur, Matthew Lewis Organizations: Woodbury, REUTERS, Mastercard, Mastercard SpendingPulse, U.S, MasterCard, Adobe Analytics, Adobe, Thomson Locations: Central Valley , New York, U.S, Bengaluru
Black Friday's spending spike reflects a consumer who is more willing to spend than in 2022, when gas and food prices were painfully high. Pandya noted that impulse purchases may have played a role in the Black Friday growth since $5.3 billion of the online sales came from mobile shopping. A Mastercard analysis of this year's Black Friday sales found that in-store sales rose just over 1% versus online sales, which grew by over 8% compared to last year. Black Friday kept the momentum going from the day before on Thanksgiving when online sales totaled $5.6 billion, according to a prior Adobe analysis. The report forecasts that online shoppers will spend roughly $10 billion over the course of Saturday and Sunday, and a record $12 billion on Cyber Monday.
Persons: they're, Vivek Pandya, Pandya Organizations: Woodbury, Adobe Analytics, Adobe Digital, Adobe, Mastercard, Target Locations: Lacoste, Central Valley , New York, U.S
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