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Tag: Economy

  • Making the most of Small Business Saturday

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    Making the most of Small Business Saturday – CBS News









































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    Black Friday may be over, but the great deals are continuing on Small Business Saturday. “CBS Saturday Morning” explores how you can save money while supporting small brands.

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  • Venezuelans Worried About Economic Turmoil Shun Black Friday Deals

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    CARACAS, Venezuela (AP) — Window displays advertising 30% discounts and shoes for $20 were not enough to draw throngs of bargain hunters this Black Friday to a popular mall in Venezuela’s capital. Even the newly opened H&M store was virtually empty in the morning.

    The country’s suffocating economy, Venezuelans said, not the threats of U.S. military action, is to blame for Friday’s stark contrast to other post-pandemic years when enthusiastic shoppers formed lines outside stores. Years of experiences riding the twists and turns of their country’s complex crisis have taught them to focus on their immediate individual needs, like buying food or medicines, and not the collective long term, like a possible military strike.

    “The country’s economy is based on day-to-day survival. What do I do to survive today and live tomorrow?” physician Luisa Torrealba said outside an appliance store. “We don’t have the luxury of stopping because there’s going to be a war, because there’s a psychological war going on, because the government says one thing or the United States says another.”

    A day earlier, U.S. President Donald Trump increased pressure on his Venezuelan counterpart, Nicolás Maduro, by suggesting during a Thanksgiving address to troops that the military could “very soon” begin hitting alleged drug-trafficking targets within the South American country. So far, a monthslong U.S. military operation has killed 80 people in strikes against vessels in international waters in the Caribbean and eastern Pacific.

    Since returning to office, Trump has increased the pressure on Maduro and his allies, including by doubling to $50 million the reward for information that leads to his arrest on narcoterrorism charges. Maduro, who denies the accusations, and his allies have repeatedly said that the U.S. military operation is designed to force a government change in Venezuela.

    But while White House evaluates if and when to strike on Venezuelan soil, the country’s economy continues to suffer and millions of Venezuelans struggle to buy food.

    Families these days need more than $500 to buy the basics for a month. Yet, Venezuela’s monthly minimum wage of 130 bolivars, or $0.52, has not increased since 2022, putting it well below the United Nations’ measure of extreme poverty of $2.15 a day.

    Many public sector workers survive on roughly $160 per month, while the average private sector employee earned about $237, according to the independent Venezuelan Observatory of Finances.

    On Friday, Marian García expected to see a crowd outside a shoe store at the mall in Caracas where she wanted to buy a pair of boots. But she found herself being the first in line.

    The store’s windows promised shoes for $20, an unbeatable deal for García, who had set her eyes on boots that regularly range from $60 to $80, or more than 10% of the monthly combined income with her partner.

    “It’s difficult to indulge in luxuries,” García, 26, said. “Due to the current economic situation, people are cutting back and only spending on the essentials, such as food.”

    Yarbelis Revilla, who works three jobs and considers herself a master bargain hunter, also looked around the mall for deals on shoes. She checked out offers at different stores but in the end felt that many of this year’s Black Friday discounts did not feel like a steal.

    Amid the country’s conditions, Revilla explained that looking for shoes may seem like “vanity,” but she works hard to meet her needs and does not dwell on the future.

    “I am a Christian, and the Bible says, ‘Do not worry. Do not make plans for the future because you won’t really know what’s coming,’” she said.

    Copyright 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

    Photos You Should See – Nov. 2025

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    Associated Press

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  • Black Friday shoppers spend more time looking for deals but less money amid economic angst

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    Black Friday shoppers flocked to stores, hoping to get more bags for their buck as they grapple with inflation, tariffs and anxiety about the health of the economy.

    Citadel Outlets in Commerce was mobbed Friday morning with long waits for parking and winding lines in front of stores as consumers tried to grab good deals. Camila Romero and her 13-year-old daughter spent hours in line trying to get the best possible deals on Ugg and Coach items on their wish lists.

    “You come to the Citadel because it’s outlets. And it’s discounts on top of that,” she said. “So even when you’re broke, you don’t feel it.”

    Shoppers across Los Angeles plan to spend less this holiday season, data show. While retailers tease their biggest deals and prepare for what they hope is robust demand, a Deloitte survey found that Angelenos plan to spend 14% less over the holidays compared with last year.

    Nationally, shoppers are expected to spend 10% less than last year.

    Consumers are pulling back on spending in response to economic uncertainty and rising prices, said Rebecca Lohrey, a partner at Deloitte with expertise in retail and e-commerce.

    “There is at least a perception of higher prices and higher costs of goods,” Lohrey said. “That is a concern for consumers across the board, and is one of the reasons they’re tightening their wallets a little bit.”

    The survey found that 62% of Angelenos expect the economy to weaken in the year ahead, up from 34% in 2024. Around the same percentage of respondents said they are concerned about a potential recession in the next six months.

    Across income groups, consumers are making cost-cutting trade-offs and putting more emphasis on finding the best deal, the data showed. More than half of Los Angeles respondents said they would switch brands if their first choice was too expensive.

    “It tends to be the lower income brackets or the middle income brackets that are the most likely to trade down,” said Collin Colburn, vice president of commerce and retail media at the Interactive Advertising Bureau. “This year, actually, everyone is trading down.”

    Camryn Smith and her daughter showed up to snoop around for the deals at the Americana at Brand in Glendale early Friday morning. The discounts help knock off some of the effect of inflation, she said.

    “The prices are higher and they just bring them down to what they normally would be,” Smith said. “It’s crazy.”

    Consumers are fatigued from continuous inflation and instability brought on by the Trump administration. More shoppers are regifting or considering giving homemade gifts, the Deloitte survey found.

    “We’ve been in an environment where prices continue to rise for a host of reasons, inflation being one, tariffs being another,” Colburn said. “I think when that happens year on year, it really drags on the consumer.”

    This means more shoppers are looking for ways to save on purchases — and presents — they cannot put off.

    The National Retail Federation predicts that a record number of Americans will shop the sales over Thanksgiving weekend. Retail sales in November and December are expected to grow between 3.7% and 4.2% compared with last year, the federation said.

    Cautious consumers are more eager than ever to find a hot deal, said NRF chief economist Mark Mathews.

    “People are changing the way that they spend,” he said. “They’re focusing more on stretching their dollar and getting value for the dollar.”

    Even shoppers spending more than usual may be doing it out of concern, economists say. Consumers who anticipate inflation sometimes spend now out of fear that prices will rise later.

    Brooklyn Farmer braved the crowds at Citadel to shop and try to save amid inflation.

    “People are struggling right now, but the holidays are still important to them,” he said. “The thinking is if there’s going to be discounts like this, I might as well go while I can, instead of spending more later.”

    Of those surveyed by Deloitte in Los Angeles, 43% said they planned to spend most of their holiday budget at big-box retailers and 32% said they would spend the most at digital-first retailers.

    Shoppers are also using new tools to help them find products and deals, including artificial intelligence. Data collected by the Interactive Advertising Bureau found that AI now ranks as the second-most influential shopping source, ahead of retailers’ websites and apps and behind only search engines.

    Nearly 90% of shoppers nationally said AI helps them find products they wouldn’t have found otherwise, according to the IAB data.

    Mattel, the El Segundo-based toy company, is offering up to 50% off at Target on Hot Wheels, Barbie dolls and Disney Princess toys, said company spokesperson Kelly Powers.

    “Mattel is working closely with retailers across the country on Black Friday deals,” Powers said.

    In May, Mattel said it was considering raising its prices to offset the effect of President Trump’s tariffs on China..

    On the October earnings call, however, the company said the full effect of tariffs won’t be seen until the fourth quarter.

    Discount retailers that depend heavily on foot traffic have given conflicting signals about their business.

    Walmart recently raised its sales forecast for the year after reporting a 6% year-over-year increase in revenue in the third quarter.

    Target, in contrast, missed analyst expectations and reported a 1.5% decline in sales in the third quarter. On a call with analysts earlier this month, Target Chief Executive Brian Cornell said the company “has not been performing up to its potential.”

    Of course, for many shoppers on Friday, the pilgrimage to splurge at the local mall was about more than saving.

    Ericka Pentasuglia brought her daughter to the Americana the Brand at around 3 a.m. to be the first in line for a pop-up store selling Billie Eilish perfume. She thought it was important for her to pass down the tradition of Black Friday shopping.

    “I do feel like it is dying a little bit,” Pentasuglia said. “The best thing is that you don’t lose a tradition, it continues to your children.”

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    Caroline Petrow-Cohen, Christopher Buchanan, Gavin J. Quinton

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  • Research Reports & Trade Ideas – Yahoo Finance

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    Technical Assessment: Bullish in the Intermediate-Term

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  • Data centers aren’t new, but seem to pop up everywhere

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    While it may seem like a new buzzword generating debate across the nation, data centers are nothing new.

    The large facilities, some of which can house millions of servers, have been around for decades. Construction is booming across the country, largely due to the growth of artificial intelligence.

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    By Anna Wiest | awiest@dailyitem.com

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  • US retailers are about to see if Black Friday benefits from a holiday halo effect

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    NEW YORK — NEW YORK (AP) — Black Friday bargains no longer tempt people to leave Thanksgiving tables for midnight mall runs. Brawls in store aisles over toys and TVs with limited-time discounts are spectacles of holidays past. Online shopping and retailers launching discounts weeks before the turkey feast subdued that kind of fervor.

    But the sales event still has enough enthusiasts to make the day after Thanksgiving the one when U.S. stores get the most shoppers coming in the door. For that reason, Black Friday still rules as the unofficial start of the holiday shopping season.

    This year’s kickoff comes as consumer confidence in the U.S. economy fell this month in the aftermath of the federal government shutdown, weak hiring and stubborn inflation, according to a report The Conference Board issued Tuesday.

    Many retail executives have reported customers becoming more discerning and increasingly focused on deals while at the same time remaining willing to splash out for important occasions like the start of the school year and the winter holidays, creating a halo effect.

    “Consumers have been saying the economy is terrible while continuing to spend for years now, so the outlook is probably better than they are telling us,” Bill Adams, the chief economist at Comerica Bank, said this week of shoppers’ moods heading into Black Friday. “But business surveys also report consumers are being more sensitive to prices and selective in spending.”

    While planning for the holidays in the spring and summer, retail companies were wrestling with the volatility of President Donald Trump ’s wide-ranging tariffs on imported goods. Many accelerated shipments of some merchandise before the tariffs took effect or decided to absorb some of the import tax costs instead of raising prices for customers.

    Market research firm Circana said that 40% of all general merchandise sold in September saw a price increase of at least 5% compared with the first four months of the year.

    Toys, baby products, housewares, and team sports equipment were among the hardest hit categories. For example, 83% of toys sold in September saw an increase of at least 5%, Circana said. Industry group The Toy Association says nearly 80% of the toys sold in the U.S. are made in China, a country the Trump administration hit with especially high tariffs at various points this year.

    Still, analysts and mall executives cited solid momentum heading into Black Friday week. At the Mall of America in Bloomington, Minnesota, foot traffic in recent weeks surpassed the numbers from pre-pandemic 2019, said Jill Renslow, the mall’s chief business development and marketing officer.

    “We’re seeing a very positive start to the holiday season,” Renslow said. “The last few Saturdays in November have been very strong.”

    The growth in online sales also has been robust so far. From Nov. 1 to Nov. 23, consumers spent $79.7 billion, according to web tracking and analysis platform Adobe Analytics. That represented a gain of 7.5% from a year earlier and was bigger than Adobe’s 5.3% growth forecast for the season.

    Mastercard SpendingPulse, which tracks spending across all payment methods, predicted a 3.6% increase in holiday sales from Nov. 1 through Dec. 24. That compares with a 4.1% increase last year.

    “Clearly, there’s uncertainty,” Mastercard Chief Economist Michelle Meyer said. “Clearly, consumers feel on edge. But at the moment, it doesn’t seem like it’s changing how they are showing up for this season.”

    According to Adobe Analytics, Thanksgiving Day was the best time to shop online to get the deepest discount on sporting goods. But Black Friday will be the best time to buy TVs, toys and appliances online.

    Cyber Monday, however, should be the best time to buy apparel and computers. Apparel discounts peaked at 12.2% off the suggested manufacturer’s price between Nov. 1 and Nov. 23 but are expected to hit 25% off on Cyber Monday, Adobe said.

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  • US retailers are about to see if Black Friday benefits from a holiday halo effect

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    NEW YORK — NEW YORK (AP) — Black Friday bargains no longer tempt people to leave Thanksgiving tables for midnight mall runs. Brawls in store aisles over toys and TVs with limited-time discounts are spectacles of holidays past. Online shopping and retailers launching discounts weeks before the turkey feast subdued that kind of fervor.

    But the sales event still has enough enthusiasts to make the day after Thanksgiving the one when U.S. stores get the most shoppers coming in the door. For that reason, Black Friday still rules as the unofficial start of the holiday shopping season.

    This year’s kickoff comes as consumer confidence in the U.S. economy fell this month in the aftermath of the federal government shutdown, weak hiring and stubborn inflation, according to a report The Conference Board issued Tuesday.

    Many retail executives have reported customers becoming more discerning and increasingly focused on deals while at the same time remaining willing to splash out for important occasions like the start of the school year and the winter holidays, creating a halo effect.

    “Consumers have been saying the economy is terrible while continuing to spend for years now, so the outlook is probably better than they are telling us,” Bill Adams, the chief economist at Comerica Bank, said this week of shoppers’ moods heading into Black Friday. “But business surveys also report consumers are being more sensitive to prices and selective in spending.”

    While planning for the holidays in the spring and summer, retail companies were wrestling with the volatility of President Donald Trump ’s wide-ranging tariffs on imported goods. Many accelerated shipments of some merchandise before the tariffs took effect or decided to absorb some of the import tax costs instead of raising prices for customers.

    Market research firm Circana said that 40% of all general merchandise sold in September saw a price increase of at least 5% compared with the first four months of the year.

    Toys, baby products, housewares, and team sports equipment were among the hardest hit categories. For example, 83% of toys sold in September saw an increase of at least 5%, Circana said. Industry group The Toy Association says nearly 80% of the toys sold in the U.S. are made in China, a country the Trump administration hit with especially high tariffs at various points this year.

    Still, analysts and mall executives cited solid momentum heading into Black Friday week. At the Mall of America in Bloomington, Minnesota, foot traffic in recent weeks surpassed the numbers from pre-pandemic 2019, said Jill Renslow, the mall’s chief business development and marketing officer.

    “We’re seeing a very positive start to the holiday season,” Renslow said. “The last few Saturdays in November have been very strong.”

    The growth in online sales also has been robust so far. From Nov. 1 to Nov. 23, consumers spent $79.7 billion, according to web tracking and analysis platform Adobe Analytics. That represented a gain of 7.5% from a year earlier and was bigger than Adobe’s 5.3% growth forecast for the season.

    Mastercard SpendingPulse, which tracks spending across all payment methods, predicted a 3.6% increase in holiday sales from Nov. 1 through Dec. 24. That compares with a 4.1% increase last year.

    “Clearly, there’s uncertainty,” Mastercard Chief Economist Michelle Meyer said. “Clearly, consumers feel on edge. But at the moment, it doesn’t seem like it’s changing how they are showing up for this season.”

    According to Adobe Analytics, Thanksgiving Day was the best time to shop online to get the deepest discount on sporting goods. But Black Friday will be the best time to buy TVs, toys and appliances online.

    Cyber Monday, however, should be the best time to buy apparel and computers. Apparel discounts peaked at 12.2% off the suggested manufacturer’s price between Nov. 1 and Nov. 23 but are expected to hit 25% off on Cyber Monday, Adobe said.

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  • Cook County in Illinois establishes permanent guaranteed income program

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    NEWYou can now listen to Fox News articles!

    The second-largest county in the United States has established a permanent guaranteed basic income program after the success of a previous pilot version.

    The Cook County Board of Commissioners unanimously approved $7.5 million for a permanent guaranteed basic income program last week. Chicago, the largest city in the Midwest and third-largest in the country, is the county seat for Cook County.

    Cook County made headlines as it established the guaranteed basic income program after many local governments across the country launched pilot versions. 

    The Cook County Board of Commissioners approved $7.5 million for a permanent guaranteed basic income program last week. (Beata Zawrzel/NurPhoto via Getty Images)

    CHICAGO HOMEOWNERS DEMAND ANSWERS AS PROPERTY TAX BILLS RISE: ‘DIVESTMENT IN THIS COMMUNITY’

    Guaranteed basic income programs have become a trend across the U.S. in recent years with more than 100 pilots launched since 2018. Mayors for Guaranteed Income grew into a coalition of 150 mayors pushing pilot programs, offering low-income participants up to $1,000 a month with no strings attached. The group has pushed pilot programs that have been adopted by municipalities across the country

    The Cook County program was launched in 2022 with the aid of federal COVID-19 relief funds.

    Once the largest publicly funded program in the nation receiving $42 million in federal funding from the American Rescue Plan Act, the Cook County Promise Guaranteed Income Pilot provided monthly payments of $500 to 3,250 households for two years, with no strings attached.

    Economic Security Illinois Director Sarah Saheb described Cook County’s guaranteed basic income pilot as a “historic success” and said that when the federal government was “stepping back from its responsibilities to working families, Cook County is leading the way to ensure people can afford basic necessities.”

    The commissioners told Fox News Digital that the decision to extend the program into permanence was based on findings from a survey on the county’s pilot program.

    ILLINOIS LAWMAKERS PASS BILL BANNING ICE IMMIGRATION ARRESTS NEAR COURTHOUSES

    Close up of hands holding cash

    Guaranteed basic income programs have become a trend across the U.S. in recent years with more than 100 GBI pilots launched since 2018. (iStock)

    The findings released by the commission in April showed that three-quarters of participants reported feeling more financially secure and 94% of participants used the funds to address financial emergencies during challenging times. Majorities also reported the program improved their mental health and lowered their stress levels.

    The commission learned from the survey that participants mainly used the funds for essential needs such as food, rent, utilities, and transportation.

    Illinois Policy Institute (IPI), a think tank that tracks public policy decisions in the state, told Fox News Digital that “Cook County is making its guaranteed income pilot permanent and committing millions to a failed strategy already shown to leave people with less work experience and lower earnings.”

    POLICE SAY THEY’RE ‘TIRED’ OF DEM CITIES SPENDING BILLIONS ON ILLEGAL ALIENS OVER COPS: LAW ENFORCEMENT GROUP

    “That should alarm anyone who wants real, long-term progress for low-income residents. A recent pilot program in northern Illinois, including Cook County, decreased workforce participation and lower individual income (before transfers),” said Josh Bandoch, head of policy for the IPI.

    Democrats in the Illinois legislature are trying to advance an "Illinois Guaranteed Income Fund" through the Department of Human Services. 

    Democrats in the Illinois legislature are trying to advance an “Illinois Guaranteed Income Fund” through the Department of Human Services.  (iStock)

    In response to IPI, the commission told Fox News Digital that “outcomes and impacts vary depending heavily on program design: amount of cash, frequency/duration of payments, eligibility criteria (income-based, place-based, etc.), and local cost of living.”

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    “Cook County is partnering closely with the Inclusive Economy Lab at the University of Chicago to conduct a comprehensive evaluation of the Promise Pilot. We will then design our next program in a thoughtful way that considers short- and long-term outcomes,” the commission said.

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  • Kim Jong Un says mega farm project chiefly about cultivating patriotic youth | NK News

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    North Korean leader Kim Jong Un inspected the construction of a mega greenhouse farm on the border with China for the sixth time on Wednesday, where he said a chief purpose of the project has been cultivating loyalty to his leadership among the young citizens he sent to build it.

    According to the Korean Central News Agency (KCNA) on Thursday, the Sinuiju Combined Greenhouse Farm is now “nearing completion,” nine months after “day-and-night” construction started on islands in the Yalu River (Amnok River) that suffered severe flooding last year.

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  • Shifting Thanksgiving traditions reflect broader political, economic and cultural divides

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    Thanksgiving is often cast as a holiday of unity, but it has also become a microcosm of the country’s fractures.

    What winds up being served for Thanksgiving dinner, who shows up — or doesn’t — and whether politics gets mentioned, can reflect broader shifts in ideology and culture. Simultaneously, Thanksgiving is still intended to bridge divides and emphasize the magnificence of the great American experiment launched centuries ago. 

    One example of this is the food Americans choose to eat on Thanksgiving and how they make it. 

    6 CLASSIC THANKSGIVING SIDE DISHES THAT HAVE DISAPPEARED FROM AMERICAN TABLES

    Take-out and dine-in options have become more widely adopted in contemporary Thanksgiving celebrations, with research from restaurant software company Popmenu finding a 42% increase from 2024 in the number of folks who plan to order from, or dine-in at a restaurant on Thanksgiving. Costs were a primary reason for the shift, along with wanting to spend more time with family and not worry about cooking. 

    President Donald Trump and first lady Melania Trump pardon the national Thanksgiving turkey Gobble in the Rose Garden of the White House, Nov. 25, 2025.  (Evan Vucci/The Associated Press )

    The length of time spent at the dinner table can also be quite telling. 

    In 2018, university researchers analyzed smartphone location data pings and determined that “politically diverse” Thanksgiving dinners tended to be significantly shorter than those dinners involving a family of entirely like-minded individuals. The study, conducted in 2018, showed the average dinner was 30 minutes to 50 minutes shorter at tables full of politically diverse folks, while a study measuring the same thing in 2020 found politically diverse dinners to be about 24 minutes shorter on average.

    Meanwhile, other Thanksgiving survey data from 2025, published by YouGov, found that 19% of Democrats expect to have political arguments at the dinner table, compared to 9% of Republicans.

    GUY FIERI INSISTS THANKSGIVING IS ‘ONE OF THE MORE AFFORDABLE HOLIDAYS’ FOR FAMILIES TO COOK ON A BUDGET   

    President Bush holding a turkey in Iraq

    President George W. Bush traveled to Iraq in 2003 to meet with troops without the public’s knowledge.  (Tim Sloan/AFP/Getty Images)

    It is hard to say overall whether Thanksgiving diners have gotten longer, or shorter, but according to the U.S. Department of Agriculture’s Economic Research Service, people typically spend around 128 minutes on meal preparation and cleanup, 89 minutes on eating and drinking, and about 148 minutes socializing, according to a long-term analysis conducted between 2003 and 2015.

    According to the National Turkey Federation, 94% of Americans plan to celebrate Thanksgiving. 

    The group added that 87% of those who celebrate say turkey is part of their holiday tradition, with 74% planning to serve an entire bird.

    An archival photograph of President Gerald R. Ford carving a turkey at Camp David in November 1976.

    An archival photograph of President Gerald R. Ford carving a turkey at Camp David Nov. 25, 1976. (Gerald R. Ford Library/The National Archives)

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    However, simultaneously, other findings from turkey producer Jennie-O indicated that there is a growing openness for less traditional Thanksgiving meal options, which the group said shows a “blend of old and new is redefining what Thanksgiving dinner looks like across America.” 

    The turkey product brand noted that 55% of Americans were “open to trying Thanksgiving recipes from different cultures,” particularly via side dishes.

    Even the changing treatment of the turkeys used for the presidential pardon has shifted slightly over the years as well. 

    In the early-2000s, turkeys that were presented were sometimes unnamed, or treated more anonymously, but more recently it has become standard to dub the turkeys with names and humanize them a bit. That trend also mirrors a shift toward better care for the pardoned turkeys over the years. 

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  • Weakening incomes add new strain to households already hit by high prices

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    For months, Americans have voiced frustration over the stubbornly high cost of living.

    But economists say a more troubling shift is emerging: consumers are increasingly reporting that their incomes aren’t keeping up with the financial pressures they face.

    AS THE HOLIDAYS APPROACH, THANKSGIVING BECOMES TRUMP’S ECONOMIC TEST

    Joanne Hsu, director and chief economist of the University of Michigan’s Surveys of Consumers, says the change is showing up more clearly in recent readings.

    “Consumers have been expressing frustration from high prices consistently for the past several years; what makes this season different is that consumers are also increasingly mentioning weakening incomes as well,” Hsu told Fox News Digital.

    “This year, they are reporting pressures on their pocketbooks from multiple sources,” she added.

    Consumers are increasingly reporting that their incomes aren’t keeping up with the financial pressures they face. (David Paul Morris/Bloomberg via Getty Images)

    That sense of mounting pressure is backed up by recent analysis. 

    According to the Bank of America Institute, inflation has risen faster than middle- and lower-income households’ after-tax wages since January 2025.

    As a result, nearly one in four U.S. households is now living paycheck to paycheck, a number that has grown during the past year.

    NEARLY 1 IN 4 AMERICAN HOUSEHOLDS LIVING PAYCHECK TO PAYCHECK, REPORT REVEALS

    What that means is that the erosion of purchasing power is pushing more Americans to the edge of their budgets, making it harder to keep up, let alone get ahead.

    Hand reaching out across table to pay for meal outdoors with a credit card - contactless payment

    Americans say that it is hard to keep up financially, let alone, get ahead. (iStock)

    That growing strain presents a political challenge for President Donald Trump, who returned to the White House on promises of greater affordability. He is now confronting voter doubts about whether he can deliver.

    A Fox News national survey shows 76% of voters now rate the economy negatively, up sharply from 67% in July and 70% at the end of former President Joe Biden‘s term.

    Trump’s economic approval has also slipped to a new low, and his overall job approval has climbed to record levels of disapproval, even among voters who have historically backed him.

    CLICK HERE TO GET THE FOX NEWS APP

    US President Donald Trump listens during a Cabinet meeting

    President Donald Trump is grappling with affordability issues that plagued former President Joe Biden’s administration. (Aaron Schwartz/CNP/Bloomberg via Getty Images)

    For now, the daily reality for many Americans remains the same: prices feel too high, paychecks feel too thin and confidence in the future is fragile. 

    How quickly that changes and whether voters give Trump credit for it may determine the tone of the country’s economic and political debate in the months ahead.

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  • California consumer confidence plunges to 5-year low

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    California consumer confidence has plummeted to levels not seen since the pandemic’s economic upheaval.

    My trusty spreadsheet’s review of the Conference Board’s Consumer Confidence Index for California found that shopper psyche plunged 16% in November from October. This pushed the measure down to a level last seen in December 2020. Much of the index’s polling for this report took place before the 43-day shutdown ended on Nov. 12.

    This Golden State optimism tally is now 25% below its average since 2007. Plus, it hit its lowest November reading since 2012, and is not the consumer buoyancy merchants would like to see during the holiday shopping rush.

    Consumers juggle numerous challenges. The federal government shutdown, no matter who you blame, rattled nerves. Perhaps its resolution will revive sinking financial sentiments.

    Still, the job market appears wobbly. Immigration crackdowns are unnerving a part of the population. Plus, the state government budget has another huge shortfall.

    And while budget-busting inflation has decreased from its recent peak, it’s worrisome that it’s still not resolved for most shoppers’ satisfaction. The key price watchdog, the Federal Reserve, also seems more anxious about the employment picture.

    Slumping slices

    The California index tracks two slices of shopper sentiment, neither of which reveals much economic enthusiasm.

    Its “present situation” index – measuring current conditions – dropped 11% in November to a low last seen in mid-pandemic March 2021. It’s also 10% below average.

    The “expectations” index – gauging consumers’ financial outlook – was off 22% in November to its lowest level since October 2011. It’s now 37% below average.

    Nationally nervous

    U.S. consumers were spooked, too, but not as much as the Golden State.

    The overall national confidence index was off 7% in a month to a seven-month low and is 3% below its 19-year average. This was the weakest November confidence since 2013.

    The nationwide view of current conditions fell 3% in a month to its lowest since September 2024. But this yardstick remains 20% above average.

    The future is murky, nationally, too. The expectations index was off 12% to a seven-month low and sits 24% below average.

    Stately unease

    Five of the seven other big states tracked by the Conference Board saw optimism drop – but no political pattern emerges.

    Michigan: Down 22% in a month to the lowest level since June 2014 and 9% below average.

    Florida: Down 15% in a month to the lowest since April 2025, but 8% above average.

    Ohio: Down 10% in a month to the lowest since October 2016 and 7% below average.

    Illinois: Down 8% in a month to the lowest since October 2020 and 6% below average.

    Pennsylvania: Down 8% in a month to the lowest since September 2024 and 4% below average.

    And the two gainers couldn’t be more different, politically speaking. For example, New York City just elected a democratic socialist as its next mayor. Texas leans conservative.

    New York: Up 13% in a month and to 29% above average.

    Texas: Up 9% in a month and to 2% below average.

    Jonathan Lansner is the business columnist for the Southern California News Group. He can be reached at jlansner@scng.com

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  • Californians sharply divided along partisan lines about immigration raids, poll finds

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    California voters are sharply divided along partisan lines over the Trump administration’s immigration raids this year in Los Angeles and across the nation, according to a new poll.

    Just over half of the state’s registered voters oppose federal efforts to reduce undocumented immigration, and 61% are against deporting everyone in the nation who doesn’t have legal status, according to a recent poll by UC Berkeley’s Possibility Lab released to The Times on Wednesday.

    But there is an acute difference in opinions based on political leanings.

    Nearly 80% of Democrats oppose reducing the number of people entering the United States illegally, and 90% are against deporting everyone in the country who is undocumented, according to the poll. Among Republicans, 5% are against reducing the entries and 10% don’t believe all undocumented immigrants should be forced to leave.

    “The big thing that we find, not surprisingly, is that Democrats and Republicans look really different,” said political scientist Amy Lerman, director of UC Berkeley’s Possibility Lab, who studies race, public opinion and political behavior. “On these perspectives, they fall pretty clearly along party lines. While there’s some variation within the parties by things like age and race, really, the big divide is between Democrats and Republicans.”

    While there were some differences based on gender, age, income, geography and race, the results largely mirrored the partisan divide in the state, Lerman said.

    One remarkable finding was that nearly a quarter of survey respondents personally knew or were acquainted with someone in their family or friend groups directly affected by the deportation efforts, Lerman said.

    “That’s a really substantial proportion,” she said. “Similarly, the extent to which we see people reporting that people in their communities are concerned enough about deportation efforts that they’re not sending their kids to school, not shopping in local stores, not going to work,” not seeking medical care or attending church services.

    The poll surveyed a sample of the state’s registered voters and did not include the sentiments of the most affected communities — unregistered voters or those who are ineligible to cast ballots because they are not citizens.

    A little more than 23 million of California’s 39.5 million residents were registered to vote as of late October, according to the secretary of state’s office.

    “So if we think about the California population generally, this is a really significant underestimate of the effects, even though we’re seeing really substantial effects on communities,” she said.

    Earlier this year, U.S. Immigration and Customs Enforcement launched a series of raids in Los Angeles and surrounding communities that spiked in June, creating both fear and outrage in Latino communities. Despite opposition from Gov. Gavin Newsom, Los Angeles Mayor Karen Bass and other elected Democrats, the Trump administration also deployed the National Guard to the streets of the nation’s second-largest city to, federal officials said, protect federal immigration officials.

    The months since have been chaotic, with masked, armed agents randomly pulling people — most of whom are Latino — off the streets and out of their workplaces and sending many to detention facilities, where some have died. Some deportees were flown to an El Salvador prison. Multiple lawsuits have been filed by state officials and civil rights groups.

    In one notable local case, a federal district judge issued a ruling temporarily blocking federal agents from using racial profiling to carry out indiscriminate immigration arrests in the Los Angeles area. The Supreme Court granted an emergency appeal and lifted that order, while the case moves forward.

    More than 7,100 undocumented immigrants have been arrested in the Los Angeles area by federal authorities since June 6, according to the Department of Homeland Security.

    On Monday, Rep. Robert Garcia (D-Long Beach), Bass and other elected officials hosted a congressional hearing on the impact of immigration raids that have taken place across the country. Garcia, the top Democrat on the House’s oversight committee, also announced the creation of a tracker to document misconduct and abuse during ICE raids.

    While Republican voters largely aligned with Trump’s actions on deportations, 16% said that they believed that the deportations will worsen the state’s economy.

    Lerman said the university planned to study whether these numbers changed as the impacts on the economy are felt more greatly.

    “If it continues to affect people, particularly, as we see really high rates of effects on the workforce, so construction, agriculture, all of the places where we’re as an economy really reliant [on immigrant labor], I can imagine some of these starting to shift even among Republicans,” she said.

    Among Latinos, whose support of Trump grew in the 2024 election, there are multiple indications of growing dissatisfaction with the president, according to separate national polls.

    Nearly eight in 10 Latinos said Trump’s policies have harmed their community, compared to 69% in 2019 during his first term, according to a national poll of adults in the United States released by the nonpartisan Pew Research Center on Monday. About 71% said the administration’s deportation efforts had gone too far, an increase from 56% in March. And it was the first time in the two decades that Pew has conducted its survey of Latino voters that the number of Latinos who said their standing in the United States had worsened increased, with more than two-thirds expressing the sentiment.

    Another poll released earlier this month by Somos Votantes, a liberal group that urges Latino voters to support Democratic candidates, found that one-third of Latino voters who previously supported Trump rue their decision, according to a national poll.

    Small business owner Brian Gavidia is among the Latino voters who supported Trump in November because of financial struggles.

    “I was tired of struggling, I was tired of seeing my friends closing businesses,” the 30-year-old said. “When [President] Biden ran again I’m like, ‘I’m not going to vote for the same four years we just had’ … I was sad and I was heartbroken that our economy was failing and that’s the reason why I went that way.”

    The East L.A. native, the son of immigrants from Colombia and El Salvador, said he wasn’t concerned about Trump’s immigration policies because the president promised to deport the “worst of the worst.”

    He grew disgusted watching the raids that unfolded in Los Angeles earlier this year.

    “They’re taking fruit vendors, day laborers, that’s the worst of the worst to you?” he remembered thinking.

    Over a lunch of asada tortas and horchata in East L.A., Gavidia recounted being detained by Border Patrol agents in June while working at a Montebello tow yard. Agents shoved him against a metal gate, demanding to know what hospital he was born at after he said he was an American citizen, according to video of the incident.

    After reviewing his ID, the agents eventually let Gavidia go. The Department of Homeland Security later claimed that Gavidia was detained for investigation for interference and released after being confirmed to be a U.S. citizen with no outstanding warrants. He is now a plaintiff in a lawsuit filed by the ACLU and immigrant advocacy groups alleging racial profiling during immigration raids.

    “At that moment, I was the criminal, at that moment I was the worst of the worst, which is crazy because I went to go see who they were getting — the worst of the worst like they said they were going to get,” Gavidia said. “But turns out when I got there, I was the worst of the worst.”

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    Seema Mehta, Brittny Mejia

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  • Healey signs $2.3B closeout budget

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    BOSTON — Gov. Maura Healey signed a $2.3 billion supplemental budget Tuesday that plugs revenue gaps from the previous fiscal year and buoys the state’s Medicaid program with federal funding cuts looming on the horizon.

    The spending plan, approved by the Legislature before it recessed last week for winter break, calls for closing out the previous fiscal year’s books by providing more money for health care, education and the state’s life sciences industry.

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    By Christian M. Wade | Statehouse Reporter

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  • Research Reports & Trade Ideas – Yahoo Finance

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    Analyst Report: Brighthouse Financial Inc

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  • Britain’s unpopular government prepares a high-stakes budget and hopes for growth

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    LONDON (AP) — After being elected in a landslide last year, Britain’s Labour Party government delivered a budget it billed as a one-off dose of tax hikes to fix the public finances, get debt down, ease the cost of living and spur economic growth.

    A year on, inflation remains stubbornly high, government borrowing is up and the economy is turgid. The annual budget, due on Wednesday, is expected to bring more tax hikes in pursuit of the same elusive economic boom.

    Rain Newton-Smith, head of business group the Confederation of British Industry, said Monday that “it feels less like we’re on the move, and more like we’re stuck in ‘Groundhog Day.’”

    It’s not just businesses who are concerned. Alarmed by the government’s consistently dire poll ratings, some Labour lawmakers are mulling the once-unthinkable idea of ousting Prime Minister Keir Starmer, who led them to victory less than 18 months ago.

    Luke Tryl, director of pollster More in Common, said voters “don’t understand why there has not been positive change.

    “This could be a last-chance saloon moment for the government.”

    Not much room for maneuver

    The government says Treasury chief Rachel Reeves will make “tough but right decisions” in her budget to ease the cost of living, safeguard public services and keep debt under control.

    She has limited room for maneuver. Britain’s economy, the world’s sixth-largest, has underperformed its long-run average since the global financial crisis of 2008-2009, and the center-left Labour government elected in July 2024 has struggled to deliver promised economic growth.

    Like other Western economies, Britain’s public finances have been squeezed by the costs of the COVID-19 pandemic, the Russia-Ukraine war and U.S. President Donald Trump’s global tariffs. The U.K. bears the extra burden of Brexit, which has knocked billions off the economy since the country left the European Union in 2020.

    The government currently spends more than 100 billion pounds ($130 billion) a year servicing the U.K.’s debt, which stands at around 95% of annual national income.

    Adding to pressure is the fact that Labour governments historically have had to work harder than Conservative administrations to convince businesses and the financial markets that they are economically sound.

    Reeves is mindful of how financial markets can react when the government’s numbers don’t add up. The short-lived premiership of Liz Truss ended in October 2022 after her package of unfunded tax cuts roiled financial markets, drove down the value of the pound and sent borrowing costs soaring.

    Luke Hickmore, an investment director at Aberdeen Investments, said the bond market is the “ultimate reality check” for budget policy.

    “If investors lose faith, the cost of borrowing rises sharply, and political leaders have little choice but to change course,” he said.

    Mixed pre-budget signals

    The government has ruled out public spending cuts of the kind seen during 14 years of Conservative government, and its attempts to cut Britain’s huge welfare bill have been stymied by Labour lawmakers.

    That leaves tax increases as the government’s main revenue-raising option.

    “We’re very much not in the position that Rachel Reeves hoped to be in,” said Jill Rutter, a senior fellow at the Institute for Government think tank.

    Instead of an economy that has “sparked into life,” enabling higher spending and lower taxes, Rutter said Reeves must decide whether “to fill a big fiscal black hole with tax increases or spending cuts.”

    The budget comes after weeks of messy mixed messaging that saw Reeves signal she would raise income tax rates – breaking a key election promise – before hastily reversing course.

    In a Nov. 4 speech, Reeves laid the groundwork for income tax hikes by arguing that the economy is sicker and the global outlook worse than the government knew when it took office.

    After an outcry among Labour lawmakers, and a better-than-expected update on the public finances, the government signaled it preferred a smorgasbord of smaller revenue-raising measures such as a “mansion tax” on expensive homes and a pay-per-mile tax for electric vehicle drivers.

    The government will try to ease the sting with sweeteners including an above-inflation boost to pension payments for millions of retirees and a freeze on train fares.

    Critics say more taxes on employees and businesses, following tax hikes on businesses in last year’s budget, will push the economy further into a low-growth doom loop.

    Patrick Diamond, professor in public policy at Queen Mary University of London, said satisfying both markets and voters is difficult.

    “You can give markets confidence, but that probably means raising taxes, which is very unpopular with voters,” he said. “On the other hand, you can give voters confidence by trying to minimize the impact of tax rises, but that makes markets nervous because they feel that the government doesn’t have a clear fiscal plan.”

    High stakes for Reeves and Starmer

    The budget comes as Starmer is facing mounting concern from Labour lawmakers over his dire poll ratings. Opinion polls consistently put Labour well behind the hard-right Reform UK party led by Nigel Farage.

    The prime minister’s office sparked a flurry of speculation earlier this month by preemptively telling news outlets that Starmer would fight any challenge to his leadership. What looked like an attempt to strengthen Starmer’s authority backfired. The reports set off jitters verging on panic among Labour lawmakers, who fear the party is heading for a big defeat at the next election.

    That election does not have to be held until 2029, and the government continues to hope that its economic measures will spur higher growth and ease financial pressures.

    But analysts say a misfiring budget could be another nail in the coffin of Starmer’s government.

    “Both Starmer and Reeves are really unpopular,” Rutter said. “They may be hanging on for now, but I don’t think people will be giving you great odds that they’ll necessarily last the course of the Parliament,” which runs until the next election.

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  • Consumer Confidence Slides as Americans Grow Wary of High Costs and Sluggish Job Gains

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    The Conference Board said Tuesday that its consumer confidence index dropped to 88.7 in November from an upwardly revised October reading of 95.5, the second-lowest reading since April, when President Donald Trump announced sweeping tariffs that caused the stock market to plunge.

    The figures suggest that Americans are increasingly wary of high costs and sluggish job gains, with perceptions of the labor market worsening, the survey found. Declining confidence could pose political problems for Trump and Republicans in Congress, as the dimmer views of the economy were seen among all political affiliations and were particularly sharp among independents, the Conference Board said.

    Earlier Tuesday, a government report showed that retail sales slowed in September after healthy readings over the summer. While economists forecast healthy growth for the July-September quarter, many expect a much weaker showing in the final three months of the year, largely because of the shutdown.

    Copyright 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

    Photos You Should See – Nov. 2025

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    Associated Press

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  • Britain’s unpopular government prepares a high-stakes budget and hopes for growth

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    LONDON — After being elected in a landslide last year, Britain’s Labour Party government delivered a budget it billed as a one-off dose of tax hikes to fix the public finances, get debt down, ease the cost of living and spur economic growth.

    A year on, inflation remains stubbornly high, government borrowing is up and the economy is turgid. The annual budget, due on Wednesday, is expected to bring more tax hikes in pursuit of the same elusive economic boom.

    Rain Newton-Smith, head of business group the Confederation of British Industry, said Monday that “it feels less like we’re on the move, and more like we’re stuck in ‘Groundhog Day.’”

    It’s not just businesses who are concerned. Alarmed by the government’s consistently dire poll ratings, some Labour lawmakers are mulling the once-unthinkable idea of ousting Prime Minister Keir Starmer, who led them to victory less than 18 months ago.

    Luke Tryl, director of pollster More in Common, said voters “don’t understand why there has not been positive change.

    “This could be a last-chance saloon moment for the government.”

    The government says Treasury chief Rachel Reeves will make “tough but right decisions” in her budget to ease the cost of living, safeguard public services and keep debt under control.

    She has limited room for maneuver. Britain’s economy, the world’s sixth-largest, has underperformed its long-run average since the global financial crisis of 2008-2009, and the center-left Labour government elected in July 2024 has struggled to deliver promised economic growth.

    Like other Western economies, Britain’s public finances have been squeezed by the costs of the COVID-19 pandemic, the Russia-Ukraine war and U.S. President Donald Trump’s global tariffs. The U.K. bears the extra burden of Brexit, which has knocked billions off the economy since the country left the European Union in 2020.

    The government currently spends more than 100 billion pounds ($130 billion) a year servicing the U.K.’s debt, which stands at around 95% of annual national income.

    Adding to pressure is the fact that Labour governments historically have had to work harder than Conservative administrations to convince businesses and the financial markets that they are economically sound.

    Reeves is mindful of how financial markets can react when the government’s numbers don’t add up. The short-lived premiership of Liz Truss ended in October 2022 after her package of unfunded tax cuts roiled financial markets, drove down the value of the pound and sent borrowing costs soaring.

    Luke Hickmore, an investment director at Aberdeen Investments, said the bond market is the “ultimate reality check” for budget policy.

    “If investors lose faith, the cost of borrowing rises sharply, and political leaders have little choice but to change course,” he said.

    The government has ruled out public spending cuts of the kind seen during 14 years of Conservative government, and its attempts to cut Britain’s huge welfare bill have been stymied by Labour lawmakers.

    That leaves tax increases as the government’s main revenue-raising option.

    “We’re very much not in the position that Rachel Reeves hoped to be in,” said Jill Rutter, a senior fellow at the Institute for Government think tank.

    Instead of an economy that has “sparked into life,” enabling higher spending and lower taxes, Rutter said Reeves must decide whether “to fill a big fiscal black hole with tax increases or spending cuts.”

    The budget comes after weeks of messy mixed messaging that saw Reeves signal she would raise income tax rates – breaking a key election promise – before hastily reversing course.

    In a Nov. 4 speech, Reeves laid the groundwork for income tax hikes by arguing that the economy is sicker and the global outlook worse than the government knew when it took office.

    After an outcry among Labour lawmakers, and a better-than-expected update on the public finances, the government signaled it preferred a smorgasbord of smaller revenue-raising measures such as a “mansion tax” on expensive homes and a pay-per-mile tax for electric vehicle drivers.

    The government will try to ease the sting with sweeteners including an above-inflation boost to pension payments for millions of retirees and a freeze on train fares.

    Critics say more taxes on employees and businesses, following tax hikes on businesses in last year’s budget, will push the economy further into a low-growth doom loop.

    Patrick Diamond, professor in public policy at Queen Mary University of London, said satisfying both markets and voters is difficult.

    “You can give markets confidence, but that probably means raising taxes, which is very unpopular with voters,” he said. “On the other hand, you can give voters confidence by trying to minimize the impact of tax rises, but that makes markets nervous because they feel that the government doesn’t have a clear fiscal plan.”

    The budget comes as Starmer is facing mounting concern from Labour lawmakers over his dire poll ratings. Opinion polls consistently put Labour well behind the hard-right Reform UK party led by Nigel Farage.

    The prime minister’s office sparked a flurry of speculation earlier this month by preemptively telling news outlets that Starmer would fight any challenge to his leadership. What looked like an attempt to strengthen Starmer’s authority backfired. The reports set off jitters verging on panic among Labour lawmakers, who fear the party is heading for a big defeat at the next election.

    That election does not have to be held until 2029, and the government continues to hope that its economic measures will spur higher growth and ease financial pressures.

    But analysts say a misfiring budget could be another nail in the coffin of Starmer’s government.

    “Both Starmer and Reeves are really unpopular,” Rutter said. “They may be hanging on for now, but I don’t think people will be giving you great odds that they’ll necessarily last the course of the Parliament,” which runs until the next election.

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  • Make Energy Security Another Third Rail of Politics | RealClearPolitics

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    Make Energy Security Another Third Rail of Politics

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    Gary Abernathy, RealClearEnergy

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