Shoppers set to spend £9.2 billion in 4 days

Shoppers set to spend £9.2 billion in 4 days

The Noise

  • While Black Friday, which usually falls on the Fourth Friday of November, is just a regular workday for most of the world, that’s not stopping retailers from around the globe from jumping on the bandwagon. November discounting is steadily catching on outside the US – from Columbia to Hungary and Pakistan – as companies use the Black Friday formula to give their sales a year-end boost. According to GlobalData, shoppers are set to spend nearly £9.2 billion in the four days from Black Friday to Cyber Monday. This would still be a big increase on the £8 billion spent in 2020, and also the £8.6 billion in 2019.
  • Most base metals declined, with Nickel retreating from the highest in a month as the market absorbed the latest signals on demand from China. Earlier most metals climbed after Beijing urged governments to boost investment to counter the growth slowdown.
  • Scientists in South Africa are studying a recently identified new coronavirus variant of concern, stoking fears the country may face a potentially severe fourth wave that could spread internationally. The new discovery, called B.1.1529 until a Greek letter is assigned, carries an unusually large number of mutations and is “clearly very different” from previous incarnations.

The Numbers

The Nuance

This was a quiet week with US markets closed on Thursday for Thanksgiving. However, news broke overnight about a new Covid-19 variant. This led to a sell-off in markets as investors consider the potential new travel restrictions and lockdowns. This is a reminder that life will take time to get back to normal and indeed that normal may have evolved. While it’s too early to say how significant this news is, we can all hope that the virus has mutated into a more benign version.

Quote of the Week

“I am no cook. But I can follow directions. Which said to let the bird chill in the sink for a few hours”

The Sun,

Thanksgiving celebrations are getting the meme treatment as Americans across the nation are joking about gathering with their families for the holiday.

Many people have started celebrating the annual holiday— which is usually commemorated with large plates of traditional food, watching the Macy’s Thanksgiving Day Parade, and spending time with loved ones — by sharing hilarious memes

A photo of an uncooked turkey sitting in a sink with a beer and what appears to be two onions is just one example of a meme that’s being circulated across the internet.

“I am no cook. But I can follow directions. Which said to let the bird chill in the sink for a few hours,” the meme reads.

Source: The Sun