Money
Sleepover at IKEA: dozens stranded amid snowstorm in Denmark
Two dozen staff and six customers were forced to stay the night at IKEA as up to 30 centimetres of snow trapped them inside
A furniture showroom in the department store in Aalborg, Denmark, became the bedroom of several people who were unable to safely make it home in time amidst a strong snowstorm.
Store Manager Peter Elmose told the Ekstra Bladet tabloid that people could “pick the exact bed they always have wanted to try.”
People working in a toy shop next door also took to the department store to join in on the fun.
Michelle Barrett, one of the toy shop staff, told Denmark’s public broadcaster, DR, “it’s much better than sleeping in one’s car. It has been nice and warm and we are just happy that they would let us in.”
“We just laughed at the situation, because we will probably not experience it again,” she added.
Another approximate 300 people had to stay the night at the Aalborg airport to keep out of the storm.
According to Euronews, the IKEA sleepover consisted of feasting on chips and Swedish cinnamon rolls in the staff canteen before watching television.
“It was a really nice evening, enjoying each other’s company,” Elmose told AFP.
“Everyone had a full night’s sleep, our mattresses are good.”
And when the shop reopened for business the next morning, all the bedding and sheets had of course been changed.
This comes after 61 people were trapped in a Yorkshire pub for three nights last week.
The several people trapped in the Tan Hill Inn during the storm slept on makeshift beds on the floor, watched movies, had a quiz night and enjoyed a buffet meal.
Some guests even claimed they didn’t want to leave the the pub after enjoying the 17th century hotel’s hospitality.
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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