Newsletter Nov 29, 2022

3 things you must know

Cyber Monday on track to match Black Friday's success
Spending on Cyber Monday, the biggest U.S. online shopping day, may hit a record $11.6 billion according to one preliminary estimate, as discounts on everything from pajamas to AirPods tempted shoppers to click "buy" despite the strain on household budgets from high inflation. The estimate from Adobe Analytics predicts an increase of up to 8.5% from a year earlier. The news comes on the heels of a record-breaking Black Friday for retailers.
WHAT THE RETAIL SURGE MEANS FOR THE US ECONOMY

Musk says Twitter declares war on Apple over App Store
Twitter owner Elon Musk on Monday opened fire against Apple over its tight control of what is allowed on the App Store, saying the iPhone maker has threatened to oust his recently acquired social media platform. Musk also joined the chorus crying foul over a 30% fee Apple collects on transactions via its App Store -- the sole gateway for digital content to get onto its mobile devices.
SEE THE BIZARRE TWEETS MUSK POSTED ABOUT APPLE

Stocks tumble as Chinese protests raise economic concern
Stocks tumbled Monday amid growing unrest in China over its zero-tolerance COVID restrictions and the effect on global supply chains and U.S. companies operating in the country. Protests broke out after a surge of COVID cases prompted widespread lockdowns, raising concerns of disruptions in China's economy. The Dow fell more than 500 points (see full stock report below).
CHINESE PROTESTS ARE RATTLING GLOBAL ECONOMY

You Might Like

Markets

DJIA	33,849.46	-1.45%
S&P 500	3,963.94	-1.54%
Nasdaq Composite	11,049.50	-1.58%
Japan: Nikkei 225	28,029.17	-0.47%
UK: FTSE 100	7,474.02	-0.17%
Crude Oil Futures	77.01	-0.30%
Gold Futures	1,742.10	0.10%
Yen	139.05	0.09%
Euro	1.04	0.13%
* As of market close

Mauna Loa erupts for first time since 1984

The world's largest active volcano burst into life for the first time in 40 years, spewing lava and hot ash Monday in a spectacular display of nature's fury by Mauna Loa, sparking warnings to areas of Hawaii's Big Island. The eruption, which could be seen from 45 miles away, was initially contained within the caldera -- the concave area at the top of the volcano -- but vulcanologists said Monday lava was now escaping from cracks in its side and there is a risk of blowing ash and debris.

SEE VIDEO, SATELLITE IMAGERY OF MAUNA LOA'S ERUPTION

US-Iran tensions running high at World Cup

The U.S. Soccer Federation shared a doctored image of Iran's national flag on social media over the weekend that removed the emblem of the Islamic Republic. U.S. Soccer said the alteration was an intentional show of support for Iranian protesters. Iran responded by calling for FIFA to remove the U.S. from the World Cup and also receive a 10-game suspension. The two countries are set to face each other today.

SEE THE PREVIEW FOR TODAY'S US-IRAN WORLD CUP MATCH

Dictionary tabs 'Gaslight' word of the year

Merriam-Webster Dictionary declared "Gaslight" its 2022 word of the year after the term had a 1740% increase in lookups for the year. Merriam-Webster defines the verb as "to psychologically manipulate", or "to grossly mislead or deceive (someone) especially for one's own advantage." Merriam-Webster added it along with other modern terms of deception, such as "fake news, deepfake, and artificial intelligence."

FIND OUT THE OTHER MOST-SEARCHED WORDS FOR 2022

Word to the wise

According to Merriam-Webster, what is the origin of the term "Gaslight"?

Monday's answer: Grover Cleveland is the only president in U.S. history to serve two non-consecutive terms in office (1885-89 and 1893-97).

IBTimes will always protect your security and privacy. Please read our detailed Privacy Policy. Please do not reply to this email. Click here to adjust your notification preferences or unsubscribe.Â