President Trump has ramped up pressure on universities, targeting institutions like Harvard, Columbia, and Northwestern with frozen federal funding amid concerns over academic freedom and antisemitism. Some schools, including Columbia, struck deals to restore funds. Northwestern’s president resigned after negotiations stalled. Meanwhile, Harvard scored a legal win when a judge ruled that the administration's $2.2 billion grant freeze was unconstitutional. Explore the political clash of federal power versus university autonomy and what's at stake for America’s higher education.


Trump vs. elite U.S. Universities: Funding crisis deepen

US consumers defied economic headwinds, shelling out a $12.4 billion on Cyber Monday, underscoring the resilience of the retail sector even as pandemic-era savings dwindle and interest rates soar, Bloomberg reported on Tuesday.

The 9.6 per cent year-over-year spending surge marked the largest online shopping day in history, according to data from Adobe Inc. The surge in spending was facilitated by strong Black Friday sales and the popularity of buy-now-pay-later options, allowing shoppers to extend their budgets with credit.

Despite uncertainties at the start of the 2023 holiday shopping season, consumers responded strongly to discounts, propelling Cyber Week — spanning Thanksgiving to Cyber Monday — to generate a total of $38 billion, a 7.8 per cent increase from the previous year. &nbsp;

Black Friday exceeded projections, reaching $9.8 billion, a 7.5 per cent jump from last year. Thanksgiving spending also saw a boost, reaching $5.6 billion, up 5.5 per cent, highlighting the impact of discounts on consumer demand during the holiday season. From November 1 to November 27, online spending reached $109.3 billion, reflecting a 7.3 per cent increase from 2022.

The surge in online spending during Cyber Monday was complemented by a record high in “buy-now-pay-later usage”, contributing $940 million, a 42.5 per cent increase from the previous year. Consumers embraced these credit facilities for more significant purchases, revealing a shifting trend in shopping behaviour. &nbsp;

Bloomberg quoted Vivek Pandya, a lead analyst at Adobe Digital Insights, as saying, "The record online spending across Cyber Week... shows the impact that discounts can have on consumer demand."

Top-selling items during Cyber Monday included Hot Wheels, the Xbox Series X gaming console, televisions, and small kitchen appliances. The insights were derived from Adobe's extensive tracking, monitoring over 1 trillion visits to retail websites and analysing sales of more than 100 million products.

While traditional big sale days like Black Friday and Cyber Monday have seen a decline in exclusivity, they remain crucial for retailers aiming to gauge consumer preferences and strategically offer targeted discounts leading up to Christmas. &nbsp;

(With inputs from Bloomberg)

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US consumers defied economic headwinds, shelling out a $12.4 billion on Cyber Monday, underscoring the resilience of the retail sector even as pandemic-era savings dwindle and interest rates soar, Bloomberg reported on Tuesday.

US consumers defied economic headwinds, shelling out a $12.4 billion on Cyber Monday, underscoring the resilience of the retail sector even as pandemic-era savings dwindle and interest rates soar, Bloomberg reported on Tuesday. The 9.6 per cent year-over-year spending surge marked the largest online shopping day in history, according to data from Adobe Inc. The surge in spending was facilitated by strong Black Friday sales and the popularity of buy-now-pay-later options, allowing shoppers to extend their budgets with credit. Despite uncertainties at the start of the 2023 holiday shopping season, consumers responded strongly to discounts, propelling Cyber Week — spanning Thanksgiving to Cyber Monday — to generate a total of $38 billion, a 7.8 per cent increase from the previous year. Black Friday exceeded projections, reaching $9.8 billion, a 7.5 per cent jump from last year. Thanksgiving spending also saw a boost, reaching $5.6 billion, up 5.5 per cent, highlighting the impact of discounts on consumer demand during the holiday season. From November 1 to November 27, online spending reached $109.3 billion, reflecting a 7.3 per cent increase from 2022. The surge in online spending during Cyber Monday was complemented by a record high in “buy-now-pay-later usage”, contributing $940 million, a 42.5 per cent increase from the previous year. Consumers embraced these credit facilities for more significant purchases, revealing a shifting trend in shopping behaviour. Bloomberg quoted Vivek Pandya, a lead analyst at Adobe Digital Insights, as saying, "The record online spending across Cyber Week... shows the impact that discounts can have on consumer demand." Top-selling items during Cyber Monday included Hot Wheels, the Xbox Series X gaming console, televisions, and small kitchen appliances. The insights were derived from Adobe's extensive tracking, monitoring over 1 trillion visits to retail websites and analysing sales of more than 100 million products. While traditional big sale days like Black Friday and Cyber Monday have seen a decline in exclusivity, they remain crucial for retailers aiming to gauge consumer preferences and strategically offer targeted discounts leading up to Christmas. (With inputs from Bloomberg) WATCH WION LIVE HERE

Record-breaking Cyber Monday: Americans spend $12.4 bn amid economic headwinds

Starbucks is setting its sights on expansion and cost savings as the renowned coffee chain aims to solidify its position in the global market. During the company's "Reinvention Update and Holiday Launch" conference on Friday, Starbucks CEO Laxman Narasimhan announced an ambitious plan to increase the brand's global store count to 55,000 by the year 2030.&nbsp;

Starbucks intends to pursue an aggressive growth strategy by enhancing the efficiency of its cafes and strengthening its digital business and rewards program. The company is geared toward accelerating renovations in existing stores while simultaneously opening new locations catering to on-the-go customers, featuring formats like double-sided drive-thrus. Furthermore, Starbucks is determined to double its current base of 75 million rewards members over the next five years, with plans to collaborate with partners in the finance and hospitality sectors.&nbsp;

According to a media report, Narasimhan emphasised that the cornerstone of this strategy will be a heightened focus on efficiency, as Starbucks aims to achieve over $3 billion in cost savings. A significant portion of these savings is anticipated to be derived from improvements in the supply chain. Additionally, Starbucks has plans to elevate barista compensation through the provision of more hours and increased wages.&nbsp;

In the past, Starbucks had unveiled a comprehensive plan to revamp its cafes, aimed at helping baristas manage increased workloads in light of the significant shift toward online ordering and heightened personalisation. BNN Bloomberg cited Starbuck’s Chief Financial Officer Rachel Ruggeri, who revealed that the company is committed to investing $1 billion in fiscal year 2024, primarily to boost wages, upgrade equipment, and enhance digital and supply chain operations. &nbsp;

(With inputs from agencies)&nbsp;

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Starbucks is setting its sights on expansion and cost savings as the renowned coffee chain aims to solidify its position in the global market. During the company's "Reinvention Update and Holiday Launch" conference on Friday, Starbucks CEO Laxman Narasimhan announced an ambitious plan to increase the brand's global store count to 55,000 by the year 2030.

Starbucks is setting its sights on expansion and cost savings as the renowned coffee chain aims to solidify its position in the global market. During the company's "Reinvention Update and Holiday Launch" conference on Friday, Starbucks CEO Laxman Narasimhan announced an ambitious plan to increase the brand's global store count to 55,000 by the year 2030. Starbucks intends to pursue an aggressive growth strategy by enhancing the efficiency of its cafes and strengthening its digital business and rewards program. The company is geared toward accelerating renovations in existing stores while simultaneously opening new locations catering to on-the-go customers, featuring formats like double-sided drive-thrus. Furthermore, Starbucks is determined to double its current base of 75 million rewards members over the next five years, with plans to collaborate with partners in the finance and hospitality sectors. According to a media report, Narasimhan emphasised that the cornerstone of this strategy will be a heightened focus on efficiency, as Starbucks aims to achieve over $3 billion in cost savings. A significant portion of these savings is anticipated to be derived from improvements in the supply chain. Additionally, Starbucks has plans to elevate barista compensation through the provision of more hours and increased wages. In the past, Starbucks had unveiled a comprehensive plan to revamp its cafes, aimed at helping baristas manage increased workloads in light of the significant shift toward online ordering and heightened personalisation. BNN Bloomberg cited Starbuck’s Chief Financial Officer Rachel Ruggeri, who revealed that the company is committed to investing $1 billion in fiscal year 2024, primarily to boost wages, upgrade equipment, and enhance digital and supply chain operations. (With inputs from agencies) WATCH WION LIVE HERE

Starbucks unveils ambitious growth plans and cost-saving initiatives. Here are the details  

US Secretary of State Mike Pompeo has praised India for lifting the export bans on critical medical supplies including pharmaceuticals used to treat COVID-19. Watch report.

Mike Pompeo praises India's efforts for lifting export restrictions

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