On Sunday, clocks will fall back an hour due to Daylight Saving Time. Your smartphone will automatically change its clock, but some of your home appliances and electronic gadgets may require manual adjustments.
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Here’s what else you need to know to Get Up to Speed and On With Your Day. |
- Holiday shopping
- Banned chemicals
- Crypto
Holiday shopping
Retailers in the US are projecting a slower holiday shopping season as inflation, higher borrowing costs and the resumption of student loan repayments cause many consumers to pull back. Holiday sales will increase by up to 4% this year, not adjusted for inflation, the National Retail Federation said Thursday in its annual projection. Holiday sales grew 5.4% last year. As a result, retailers are expected to ramp up discounts over the coming months to draw consumers, financial analysts say. Retailers are poised to offer up to 35% off listed prices this holiday season, with the deepest discounts applied to toys, electronics and apparel, Adobe said in its annual holiday forecast.
Banned chemicals
The FDA on Thursday proposed a nationwide ban on brominated vegetable oil, or BVO, as an additive in food. The potentially harmful ingredient found in at least 90 products — mostly sodas — is used as an emulsifier in citrus-flavored beverages to keep the flavoring from separating and floating to the top. BVO is also commonly used in flame retardants and has been linked to health hazards including nervous system damage and headaches. The FDA's decision comes after California banned the ingredient in October by passing the California Food Safety Act, the first state law in the US to ban the controversial chemical. The additive is already banned in Europe and Japan.
Banned chemicals
Crypto
Former billionaire Sam Bankman-Fried was found guilty of seven counts of fraud on Thursday for his role in the collapse of cryptocurrency exchange FTX. He faced a slew of charges for stealing billions of dollars from accounts belonging to customers of FTX, which was once one of the most trusted names in crypto. He was also found guilty of defrauding lenders of FTX's sister company, Alameda Research, which held FTX customer funds in a bank account. His sentencing is set for March 2024. The verdict caps a yearlong saga that saw the 31-year-old go from a billionaire living in a luxury apartment in the Bahamas to a defendant in one of the biggest white-collar crime cases since Bernie Madoff's Ponzi scheme that fell apart in 2009.
Crypto
Skilled photographers from 42 countries showcased their stunning work in the annual competition. View the overall winning photo
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