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During the 2024 holiday shopping season, US consumers showed resilience despite inflation, with 197 million shoppers participating from Thanksgiving to Cyber Monday. Online spending surged, particularly through buy now, pay later (BNPL) options, reflecting changing consumer behavior and preferences. Retailers like Walmart thrived, while others like Target faced challenges.
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The Iran-backed Houthi rebels have intensified missile and drone assaults on vessels in the Red Sea, raising concerns over potential Russian military support. US officials warn that this cooperation could destabilize the region and disrupt global shipping routes. The US Navy has responded robustly to these threats, defending key maritime lanes.
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A tourist yacht named Sea Story capsized off Marsa Alam, Egypt, leaving at least 17 people missing, including British nationals. The vessel, carrying 31 tourists and 14 crew members, sank after reportedly being hit by a large wave. Rescue operations are ongoing, with 28 survivors rescued so far.
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A tourist boat, the Sea Story, capsized off Egypt's Red Sea coast, resulting in 33 survivors and seven missing individuals. The vessel sank rapidly after being struck by high waves during a diving trip. Rescue operations are ongoing, with international efforts to assist the affected tourists.
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The luxury yacht Sea Story sank near Marsa Alam, Egypt, on Monday, resulting in four confirmed deaths and seven missing, including a British couple. Of the 44 people onboard, 33 were rescued after a major operation by Egyptian authorities, who had warned of severe weather conditions prior to the incident.
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Manufacturers in Europe and the UK reported significant declines in demand for November 2024, with the eurozone PMI dropping to 45.2 and the UK PMI falling to 48.0. Factors include geopolitical tensions, Brexit impacts, and rising costs from recent budget announcements.