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Australia's government has introduced legislation to ban social media access for children under 16, citing mental health concerns. The bill, announced by Prime Minister Anthony Albanese, holds platforms accountable for enforcing the age limit and is expected to pass by the end of the year. The legislation aims to protect children from harmful online content.
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UK retail sales fell by 0.7% in October, marking the first decline in three months. Clothing stores were particularly affected, with consumers holding back spending ahead of the Labour government's first budget. Despite this drop, sales volumes increased by 0.8% over the previous three months.
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Following Donald Trump's election victory, U.S. markets have surged, with the S&P 500 and Dow Jones reaching record highs. Investors are optimistic about potential tax cuts and deregulation, while Bitcoin also hit a new peak. The Federal Reserve's recent interest rate cut further fueled market enthusiasm, marking a significant week for financial assets.
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On November 13, 2024, Amazon introduced Haul, a mobile-only storefront offering products under $20, primarily targeting price-sensitive consumers. With delivery times of one to two weeks, the platform aims to compete with discount retailers like Temu and Shein, focusing on low-cost goods.