Money
Amazon workers prepare to strike as Black Friday kicks off
Amazon workers in 20 countries are planning protests and work stoppages on Black Friday
The protests, set to take place in nations around the world including the US, UK, and several in the EU is set to have a knock-on impact on processing times for Black Friday orders. The shopping-centric day is among Amazon’s busiest all year.
The Make Amazon Pay group says: “Amazon takes too much and gives back too little.”
It is backed by a coalition of labour groups, trade unions, grassroots campaigns and non-profit-making organisations in individual countries.
Many employees will be working on the day however campaign groups including Amazon workers themselves will be staging protests at Amazon buildings in Coalville, Leicestershire, Coventry, Peterborough and at its London headquarters.
Strikes are being encouraged in other locations, too
In Germany the ‘Verdi’ union called on employees who work at major shopping centres to also strike.
Worldwide, almost 50 organisations have signed up to a lost of ‘common demands’ – published bu the Make Amazon Pay coalition.
Among those demands include raising warehouse workers’ pay and adding hazard pay and peak time increments, halting worker “surveillance” and strict productivity targets, extending sick leave and improving COVID tracing and reporting and paying taxes without using loopholes or tax havens.
Amazon has reported a tripling of profits earlier this year, thanks to its success during peak periods over the pandemic.
Cyber warnings for shoppers
Black Friday is one of the busiest days for retailers right around the world, as consumers snatch many bargains.
Economists expect this year’s shopping sales to set another spending record.
In fact, the National Australia Bank predicts one million dollars a minute will be spent across Black Friday and Cyber Monday.
However, there is now a fresh warning over the rapid rise in scammers ahead of this busy shopping season.
“Cyber attackers track real-world events… Black Friday and Cyber Monday are perfect for cyber attackers.”
Garrett o’hara- Mimecast
‘Be cynacle of everything… if it seems too good to be true then it probably is”
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Money
Stocks rally ahead of Thanksgiving as markets log four days of gains
Markets gain momentum ahead of Thanksgiving, with the Dow up 388 points and Oracle rising 4% amid investor optimism.
Markets gain momentum ahead of Thanksgiving, with the Dow up 388 points and Oracle rising 4% amid investor optimism.
Markets are moving into the Thanksgiving break with strong momentum, as stocks notch four straight days of gains. The Dow Jones Industrial Average jumped 388 points, while the S&P 500 added 0.9%, pushing both indexes toward their best week since June.
Oracle led major movers, rising more than 4% after Deutsche Bank reaffirmed its bullish outlook on the tech giant. Broad investor optimism continues building across sectors as economic data softens and earnings remain resilient.
All eyes are now on the Federal Reserve and what potential shifts in interest-rate policy may mean for the markets. U.S. markets will close Thursday for the Thanksgiving holiday and reopen Friday for a shortened trading session.
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Money
Dow surges 500 points amid rate cut optimism
Dow jumps 569 points on fresh hopes for December rate cut and AI market optimism
Dow jumps 569 points on fresh hopes for December rate cut and AI market optimism
– Dow Jones rose 569 points, reflecting optimism for a Federal Reserve interest rate cut.
– Alphabet’s stock increased as Meta may invest in AI chips, but Nvidia’s declined amid market concerns.
Markets anticipate an 85% chance of a quarter-point rate cut in December, driven by comments from New York Fed President John Williams, who indicated the possibility of lower rates soon. Investor sentiment strengthened following reports that Kevin Hassett may be appointed as the next Fed chair, potentially resulting in a more lenient monetary policy.
Tech Sector
Alphabet saw its stock rise by over 1% after reports indicated that Meta Platforms might invest in its AI chips. This could signal increased demand for AI technology, benefiting the sector overall. However, Nvidia’s stock fell more than 3%, suggesting concerns about its dominance in the AI chip market.
Investors are also wary of the valuation of tech stocks. Despite recent gains, the S&P 500 and Nasdaq remain down over 1% and 3%, respectively, for November, while the Dow has lost more than 1% this month. The broader market’s performance indicates ongoing scrutiny regarding tech valuations amid changing economic expectations.
Money
Gold prices surge as Central Banks buy big, but risks grow ahead
Gold prices surge as central banks increase demand; risks include a stronger dollar and rising interest rates.
Gold prices surge as central banks increase demand; risks include a stronger dollar and rising interest rates.
Gold prices are climbing fast as central banks ramp up buying, pushing demand to its highest levels in years. The metal’s reputation as a safe haven is strengthening, especially amid rising geopolitical tensions and global financial uncertainty.
But experts warn the shine could fade. A stronger US dollar and the possibility of rising interest rates may weigh on momentum, making investors question how long the rally can last.
Dr Steven Enticott from CIA Tax breaks down the drivers behind gold’s surge—from ETF inflows to physical bar demand—and what could send the price sharply higher… or lower.
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