Costliest Thanksgiving?

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BUSINESS & ECONOMY

🦃 Inflation Increases Costs for Thanksgiving Dinner Hosts

Amidst stubborn inflation, a LendingTree survey finds 60% of Americans are adjusting Thanksgiving plans due to rising costs, averaging $361, higher for families with children. Matt Schulz emphasizes, "shop around and ask people to pitch in," with 77% using coupons or shopping around. Guests are encouraged to help out, as 20% of hosts may exclude non-contributing guests next year. Schulz also suggests buying decorations after the holiday for future cost savings.

🔗 U.S. Taxpayers Burdened by Soaring Interest Payments

U.S. federal debt interest now consumes 40% of personal income taxes, with the Treasury paying $88.9 billion in October alone, nearly double from last year. This cost outstrips most government expenses, including military spending. The $33.7 trillion debt takes over a fifth of revenues for interest, exacerbating as deficit spending and higher interest rates continue. 

WORLD

🚨 China's Zhongzhi Wealth Manager Announces Insolvency with $64 Billion Liabilities

The USS Thomas Hudner, a US warship, successfully downed several attack drones from Yemen's Houthi-controlled area in the Red Sea, with no crew harm or ship damage. Amid heightened tensions, the US, through spokesperson Matt Miller, demands the "immediate release" of the hijacked Galaxy Leader cargo ship and its 25 crew, seized by Houthis.

📉 Zhongzhi, China's Wealth Manager, Declares Insolvency with $64 Billion Liabilities

Zhongzhi Enterprise Group, a key Chinese wealth manager, faces severe insolvency with $64 billion in liabilities, largely from real estate investments, intensifying anxieties within China's $3 trillion shadow banking sector. The crisis, aggravated by affiliate Zhongrong International Trust's payment defaults, has triggered fears of extensive financial fallout. Zhongzhi states, "The Zhongzhi group deeply apologises for the losses caused to investors." 

🚨 North Korea Cancels Military Pact with Seoul, Reinforces Border Troops

North Korea will deploy more troops and military equipment along the South Korean border, no longer adhering to the 2018 Comprehensive Military Agreement, enacted to reduce tensions and build trust. South Korea suspended parts of the deal in response to North Korea's satellite launch. The launch violated UN sanctions and drew condemnation from South Korea, Japan, the US, and the UN.

SCIENCE & TECH

🎮 Sony Faces $8 Billion Lawsuit for PlayStation Store Pricing Issues

A London tribunal allowed a $8 billion lawsuit against Sony for allegedly charging "excessive prices" on its PlayStation Store. The suit, led by consumer advocate Alex Neill, represents 9 million UK customers. It claims Sony's monopoly over digital sales unfairly hiked prices. Neill states, "PlayStation gamers’ loyalty has been taken advantage of by Sony." 

🎥 Stable Video Diffusion Launches as Stability AI's Latest Venture into Video Technology

Stability AI's Stable Video Diffusion, an advanced text-to-video tool, transforms images into high-resolution videos (576×1024) with minimal computing resources. It includes two models, SVD and SVD-XT, catering to various frame rates. Primarily for research and non-commercial purposes due to ethical considerations, it marks a significant step in AI's capabilities in the video generation domain.

SPORTS & ENTERTAINMENT

🎬 Jenna Ortega Leaves 'Scream 7' Following Melissa Barrera's Dismissal Over Palestine Comments

Jenna Ortega won't reprise her role in "Scream VII" due to scheduling conflicts with "Wednesday." Melissa Barrera was fired from the franchise after social media posts about Israel-Palestine, including one likening Gaza to a concentration camp, leading to Spyglass Media's statement of zero tolerance for antisemitism. 

🚨 Jamie Foxx Faces Sexual Assault Allegations in Recent Lawsuit

In a lawsuit under New York's Adult Survivors Act, Jamie Foxx is charged with sexual assault from a 2015 incident at Catch NYC. Jane Doe alleges Foxx groped her without consent, causing ongoing physical and emotional harm. She seeks unspecified damages and also sues Catch Hospitality Group for negligence. Foxx, recently recovering from a medical issue, hasn't responded.

OTHER NEWS

🔥 Two Killed in Fiery Crash at Niagara Falls Rainbow Border Bridge, No Terrorism Indicated

A speeding vehicle crashed and exploded at a U.S.-Canada border checkpoint in Niagara Falls, killing a married couple and prompting multiple crossing closures. The FBI ruled out terrorism, stating "no terrorism nexus was identified." Presidents Biden and Trudeau were briefed, with Gov. Hochul confirming "no sign of terrorist activity." The incident heightened security ahead of Thanksgiving.

🏙️ San Francisco, San Jose Lead in Living Standards for Lower, Middle-Income Households

San Francisco and San Jose, known for high costs, lead in living standards for lower and middle-income households, says a LISEP study. High wages in San Francisco and San Jose counterbalance their living expenses, showcasing economic health rooted in diverse job markets. This contrasts with cities like Fresno and Las Vegas, where a higher proportion of lower-income jobs leads to struggles in living standards, as highlighted in the LISEP study.

THIS DAY THAT YEAR

On November 23, 1963, six million people tuned in to watch the first episode of a series that followed the adventures of "The Doctor," a fugitive Time Lord with two hearts from the planet Gallifrey. This enduring series, the longest-running of its genre in the world, is anticipated to release a new season next year.

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