NEW YORK (AP) — More shoppers than ever are on track to use ‘buy now, pay later’ plans this holiday season, as the ability to spread out payments looks attractive at a time when Americans still feel the lingering effect of inflation and already have record-high credit card debt. The data firm Adobe Analytics predicts shoppers will spend 11.4% more this holiday season using buy now, pay later than they did a year ago. The company forecasts shoppers will purchase $18.5 billion worth of goods using the third-party services for the period Nov. 1 to Dec. 31, with $993 million worth of purchases on Cyber Monday alone. Buy now, pay later can be particularly appealing to consumers who have low credit scores or no credit history, such as younger shoppers, because most of the companies providing the service run only soft credit checks and don’t report the loans and payment histories to the credit bureaus, unlike credit card companies. This holiday season, buy now, pay later users can also feel more confident if a transaction goes awry. In May, the CFPB said buy now, pay later company must adhere to other regulations that govern traditional credit, such as providing ways to demand refunds and dispute transactions. To use a buy now, pay later plan, consumers typically sign up with bank account information or a debit or credit card, and agree to pay for purchases in monthly installments, typically over eight weeks or more. The loans are marketed as requiring no or low interest, or only conditional fees, such as for late payment. Klarna, Afterpay and Affirm are three of the biggest buy now, pay later companies. But consumer advocates warn that shoppers who sign up for the payment plans using a credit card can be hit with more interest and fees. That's because individuals open themselves up to interest on the credit card payment, if it's carried month to month, on top of any late fees, interest, or penalties from the buy now, pay later loan itself. Experts advise against using a credit card to pay for these plans for this reason. Consumer watchdogs also say the plans lead consumers to overextend themselves because, for example, not paying full price up front leaves, in the shopper’s mind at least, more money for smaller purchases . They also caution consumers to keep careful track of using multiple buy now, pay later services, as the automatic payments can add up, and there is no central reporting, such as with a credit card statement. “Buy now, pay later can be an innovative tool for purchases you’re going to make anyway,” said Mark Elliott, chief customer officer at financial services company LendingClub. “The challenge is that it does fuel overspending.” For merchants, that’s part of the appeal. Retailers have found that customers are more likely to have bigger cart sizes or to convert from browsing to checking out when buy now, pay later is offered. One report from the Federal Reserve Bank of New York cited research that found customers spend 20% more when buy now, pay later is available. “The reality is that the increased cost-of-living and inflation have put more people in a situation where they’re already relying on revolving credit,” Elliott said. “The psychographics of ‘buy now, pay later’ may be different — people don’t think of it as debt — but it is.” If a consumer misses a payment, they can face fees, interest, or the possibility of being locked out of using the services in the future. Emily Childers, consumer financial expert for personal-finance technology company Credit Karma, said that internal data shows member credit card balances are up more than 50% for Gen Z and millennial members since March 2022, when the Fed started raising interest rates. “Young people are entering this holiday season already in the red,” she said. “And, based on what we’re seeing in the data, they’re continuing to bury their heads in the sand and spend.” The Associated Press receives support from Charles Schwab Foundation for educational and explanatory reporting to improve financial literacy. The independent foundation is separate from Charles Schwab and Co. Inc. The AP is solely responsible for its journalism.
The hunt for UnitedHealthcare CEO's elusive killer yields new evidence, but few answersElon Musk (L) with Donald Trump (R) (Image: AP/Brandon Bell) Like Lynx deodorant, wet dreams and the comedian Jimmy Carr, libertarianism is meant to be a phase men grow out of by at least their late teens. Elon Musk, however, appears to be growing more adolescent as he ages. His “small government” ideology is obviously blinkered, conveniently skating over the billions in taxpayer loans and contracts he has received. Nonetheless, it is increasingly central to both his political and business decisions. Indeed, he is emerging as the leader of an extreme libertarian faction within US President-elect Donald Trump’s transition team. Can DOGE save some coin? Murdoch to Musk: How global media power has shifted from the moguls to the big tech bros Read More All Republican factions seem to agree on reducing immigration and “wokeness”. But whereas the “national conservatives” led by Vice President-elect JD Vance are invigorated by economic protectionism, Musk appears more excited about deregulation and slashing public service jobs. His intellectual influences appear to be arch free-marketeer Milton Friedman and President of Argentina Javier Milei , who is famous for taking a literal chainsaw to government spending. This would merely be sad, if Musk weren’t edging closer to real political power. On one hand, Musk’s new Department of Government Efficiency (DOGE) is a sham “department”, a made-up office without congressional oversight. It has no defined powers, in contrast to the real departments being led by the national conservative set. However, Musk seems to have genuinely influenced Trump’s recent thinking, along with DOGE co-leader and fellow austerity enthusiast Vivek Ramaswamy. “These two wonderful Americans,” Trump recently said , “will pave the way for my administration to dismantle government bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure federal agencies.” Trump may, as he is wont to do, lose interest in DOGE. But if he takes up even a fraction of Musk and Ramaswamy’s agenda, the results could be catastrophic. The dynamic duo outlined their initial plan in the Wall Street Journal last week, to cut “$500 billion plus in annual federal expenditures that are unauthorised by Congress or being used in ways that Congress never intended”. They claim the president can do this unilaterally, though this would likely be legally contested if pursued. This is merely a downpayment on the $2 trillion (of an annual $6.7 trillion in government outlays) that Musk thinks he can cut. The vast bulk of US government spending is on social security and healthcare, and the vast majority of “expired” spending is on veterans’ health care. Despite being extreme on other measures, Trump dialled down Republicans’ austerity talk in his first term, reassuring pensioners and veterans their benefits wouldn’t be targeted. Trump is either about to adopt a much harsher (and less popular) “fend for yourself” posture towards middle America, or his buddies’ lofty targets will be forgotten and DOGE will devolve into small-scale witch hunts over so-called “woke” spending. Watch this space. Death by a thousand cuts Da pacem, Domine: Why Trump is what democracy needs Read More There is no doubt that Elon himself would prefer a full-scale “slash and burn” approach, as it was the approach he himself adopted upon purchasing Twitter. He fired 6,500 people – about 80% of his workforce, by his own reckoning. He later attempted to rehire some of those very same former employees after acknowledging some “babies” were “thrown out [with the bathwater]”. Particularly affected by redundancies were those working on curation, risk and integrity — namely, those reducing misinformation, defamation and harmful content on the platform, and promoting reputable sources. His leadership of Twitter, now rebranded X, reveals an unresolved tension at the heart of his (and all) libertarianism — the emphasis on freedom ends where his company begins. As CEO, Musk led X in a dictatorial fashion, according to former executives. He told remaining employees to submit to an “extremely hardcore” regime of long working hours or leave the company. As Elizabeth Anderson memorably pointed out , such dictatorial company structures are depressingly common and give the lie to many spruiking “freedom” in other domains. Even after stepping down as CEO, Musk clearly continues to exert god-like influence. He reportedly made a team of 80 engineers tweak X’s algorithm in 2023 to boost his own posts. Australian academics Timothy Graham and Mark Andrejevic investigated whether he had repeated such meddling this year, and found a “statistically anomalous boost” in engagement on Musk’s account since July. Such antics are alienating many users. But no-one is powerful enough to stop Musk internally. So naturally, users’ only avenue is to leave. Bluer skies ahead? “Network effects” (i.e. everyone else being on the platform, and not being elsewhere) have prevented a critical mass of users leaving X... until now. New rival platform Bluesky has blown up in recent weeks, as X users jump ship. The platform just hit 22 million users. That’s still far fewer than X in total, but Bluesky is currently adding more than 1 million users per day, including some of the most high-profile users. Bluesky now up to 22 million users and still growing strong [image or embed] — Benjamin Clark ( @benjamin-clark.bsky.social ) November 25, 2024 at 7:11 AM Albert Hirschman famously suggested three ways a consumer could influence an institution: “Voice”: try to influence the organisation’s decision-making through speaking up, including via coordinated efforts; “Loyalty”: try to stick things out and hope things get better; “Exit”: leave. Which Australian media outlets are leaving X for Bluesky? Read More Musk is impervious to the voices of others, and many of X’s users are tiring of loyalty. Their only option is to exit. Libertarians like Musk typically emphasise exit as their preferred means of exercising freedom (“don’t like it? Leave”). There is a delicious irony in users now saying, “OK, bye”. No social media platform will ever be perfect. But Bluesky’s foundations are better than most. It is based on an open protocol, meaning anyone with the technical know-how can set up their own sister network and bring their data across. Users can curate their own feeds to a greater extent. This provides users with some “voice” and “exit” possibilities, inviting them in as co-creators of the platform rather than force-feeding them slop. Musk will, of course, be just fine if X descends into a Star Wars cantina of fascists and spam bots. He’s still the richest man in the world, after all. But Trump likes winners. The more we can make Musk seem like a loser, the less chance his austerity package has of decimating what’s left of the American welfare state. Bluesky is also just a nicer place to be right now. So join me, X users, in the great X-odus. Let’s show Musk what real freedom looks like. Have something to say about this article? Write to us at letters@crikey.com.au . Please include your full name to be considered for publication in Crikey’s Your Say . We reserve the right to edit for length and clarity.
Trump promises to end birthright citizenship: What is it and could he do it?My vegan brother refuses to come to Thanksgiving if it's not meat-free The unnamed 31-year-old shared details of the family feud on Reddit She revealed older brother, Mark, 35, is vegan The woman said that he refused to be around meat - even on Thanksgiving By KELSI KARRULI FOR DAILYMAIL.COM Published: 23:02, 21 November 2024 | Updated: 23:02, 21 November 2024 e-mail View comments A woman has revealed her vegan brother has refused to come to Thanksgiving dinner if there is any meat on the table. The unnamed 31-year-old took to Reddit to reveal that she has never gotten along with her brother, Mark, 35. When Mark turned vegan many years ago, their relationship became even more strained as he attempted to turn them all against meat. Mark has since said he refuses to sit idly by and watch his family munch down on turkey during the holiday season. In a thread titled Am I The A**hole , the woman revealed that her mother made a 100 per cent vegan meal for Thanksgiving last year. However, she is hosting the family's gathering this time around and refuses to ditch meat entirely from her menu. Although there will be vegan dishes available, Mark is insisting that he will abandon his family for the holidays if there are any meat products present. Following her brother's shocking confession, the 31-year-old took to the discussion forum to question if she would be in the wrong if she refused to transform her Thanksgiving meal. A woman has revealed her vegan brother has refused to come to Thanksgiving dinner if there was any meat on the table (stock image) The post was titled: 'Am I the a**hole for refusing to cook a vegetarian Thanksgiving dinner?' She explained: 'I feel like I've slipped into the twilight zone with this whole argument, so tell me what's up, internet folks. 'Background: I (31F) and my brother Mark (35M) do not get along. When he was a teen he saw a documentary on factory farming and decided to become a vegetarian. He got very, very annoying about it quickly, but my dad shut him down when he started trying to get the rest of us to be vegetarian with him. 'Then he went to college, made a bunch of very strange friends, and went militantly vegan. It's his entire personality. I stopped talking to him after he threw a fit about one of my birthday dinners being at a steakhouse and spammed my messages and social media with pictures of abused cows.' The woman noted that her parents have attempted to fix the situation as of late, with her mom even making an entirely meat-free Thanksgiving last year. 'My parents have been trying to repair the situation and for a while, it did seem like Mark was getting better so I've been letting him back into contact gradually. Then he started dating Pam, who is some kind of vegan influencer. 'She is apparently moderately popular online, but I have no idea what she does exactly. I don't know if Mark was trying to impress her or what, but last Thanksgiving he insisted that mom cook at least a vegetarian meal or they wouldn't come on "ethical grounds." 'My mom just wanted everyone to get along on her favorite holiday, so she agreed. It was not a fun meal,' she said. The unnamed 31-year-old took to Reddit to reveal that she has never gotten along with her brother, Mark, 35 However, because her mom is struggling with health issues, the 31-year-old is hosting Thanksgiving this year. The change of hosts has caused her and Mark to enter a fierce debate. She added: 'This year, my parents have downsized for retirement and my mom is having health problems. I bought their house when they moved, so my mom asked me to host Thanksgiving so it would be like usual. 'I told everyone in the group chat so Mark and Pam could make travel arrangements and Pam immediately started gushing about all the vegan replacement recipes she could give me to replace the traditional ones. I said to send me a main dish recipe they like and I would give it a shot, but I'm making the traditional meal otherwise and there should still be plenty of things they can eat. 'Mark and Pam have been arguing about this with me for days and then Mark said that if I wouldn't make a meat-free meal they wouldn't come. This upset my mom, who asked me to just make what she made last year to keep the peace, but I told her that Mark needs to get over himself and I'm not coddling him. I'm having turkey on Thanksgiving.' Although she wants to stay firm in her decision to include meat at their family dinner, she is now questioning if she is in the wrong because she is upsetting her mom by separating the family. At the end of the post, the 31-year-old said: 'My dad privately agrees with me, but Mark threatening to not come is upsetting my mom so much that he's worried it will impact her health. 'There's a not big, but also not zero chance that these might be some of the last family holidays we have with her. My mom thinks I'm putting turkey over my own family and I'm not so sure anymore.' People on the web flooded the comments section and ran to the woman's defense while slamming her brother People on the web flooded the comments section and ran to the woman's defense while slamming her brother. One person said: 'Not the a**hole - You're not putting turkey over family — Mark is putting tofurkey over family. You've reasonably accommodated enough with a vegan option. Mark doesn't get to hold holidays hostage because of his own dietary choices. That's ridiculous. 'If Mark wants to pitch a fit, that's him. I feel very sorry for your mom, she's the one suffering most here. But she needs to realize that Mark is the one causing this family divide, and it isn't fair to everyone else to cater to his demands.' Another user wrote: 'My aunt was vegan, she brought her own meals to family gatherings. Why can't they do the same?' Someone else added: 'You're not in the wrong, if they want it so badly they can make it and bring it for themselves!' 'You've even offered to cook them a vegan main dish, which is pretty above and beyond (I think most people would just tell them to bring their own food). Seems like they are taking the position that not only are they vegan, but they are essentially forcing it on everyone else by refusing to come, which is ridiculous. 'If your mom is getting upset, its because of Mark's actions, not yours... it's not fair for everyone else to have to comply with his demands. If he actually cares about your mom, he would put her feelings first,' a fourth person said. Thanksgiving Reddit Share or comment on this article: My vegan brother refuses to come to Thanksgiving if it's not meat-free e-mail Add commentSriLankan Airlines secures second consecutive ‘Emerging Cargo Airline’ Award at Arabian Cargo Awards
ARNE SLOT was furious with his Liverpool players - despite them continuing their perfect Champions League record. Mo Salah’s second half penalty against Girona made it six wins from six for the Reds and means they look certain to finish the top eight and avoid a play-off round in February. But Liverpool's Slot, who welcomed back keeper Alisson from injury, slammed his team for not being “aggressive” enough in Spain . He said: “I’m really pleased with the first five games, but I’m far from pleased about this performance. Especially two things. “If you play against a team that has such a good idea about football and knows how to bring the ball out from the back like some of the teams we’ve played recently, like City or Real Madrid , you need to be so intense if you want to make it difficult for them. “But we were so easily outplayed and then this team can cause you a lot of problems. “They showed this in their games, in all of the Champions League this season, except PSV Eindhoven . “I almost feel sorry for them as they deserve so much more points than the three points they have. “The other part is every time we lost the ball, we were not aggressive enough so every time we lost the ball, they could go almost all the way to our goal and have a shot. “We had hardly any control at all over the game. Maybe the second half was a bit better – I’m trying to be positive.” FOOTBALL FREE BETS AND SIGN UP DEALS Brazilian keeper Alisson had been sidelined for over two months with a hamstring injury but made five key saves before Salah struck from the spot after VAR flagged up a foul by Donny van de Beek on Luis Diaz . Slot joked: “We have to thank Alisson that we kept a clean sheet. “Maybe his team-mates wanted to make sure if he was really fit, to give him a little work. “Of course that was not the idea but he showed today why he is so important for us. I said so many times that he is our first goalkeeper. “That has nothing to do with Caoimhin Kellher, as he did so so well, but Alisson has been so important for this club for so many years and showed why he is one of the best or in my opinion, the best in the world. “Let’s hope he can keep on putting these performances in and even more that he can stay fit.” Kelleher, who has made it known he wants to leave Merseyside, was forced to sit on the bench here in northern Spain despite helping his team storm to the top of the table. Despite Kelleher’s fine displays — his only blip was against Newcastle six days earlier — Alisson was always going to be parachuted back into the team. And he now finds himself back in a team who have still lost only once all season. Four points clear in the Premier League and now looking certain to finish in the top eight of the Champions League. This means they will miss the two-legged play-offs in February. Crucially, the second leg of the games will be played before Liverpool’s scheduled Premier League trip to face Manchester City on February 23. While Slot’s team will be able to put their feet up in that week, City — potentially — have a play-off match. Nevertheless, it looks like City are out of the title race and Liverpool are going to take some stopping in all competitions . Slot also has the added bonus that he will be able to rest any players with aches and strains for the remaining league-stage clashes against Lille and PSV Eindhoven in January. Yet the Dutchman will be mildly concerned about his team’s performance. In a crowd of about 10,000 — restricted while the ground is being renovated — there were just 492 Liverpool fans. To qualify with points, supporters had to have been to 27 European away matches including Spartak Moscow in September 2017. Talk about dedication. One player making his 235th Liverpool appearance was Joe Gomez and, remarkably, he is still looking for his first goal. He was denied the moment he must be dreaming of in the fourth minute when Paulo Gazzaniga , who had stints at Spurs and Southampton among others, showed good reactions to push a header over the bar. Gazzaniga also kept out a well-hit drive from Darwin Nunez, who was then guilty of wasting a couple of other chances in the first half, particularly one before the break. It was exactly the sort of performance from Nunez which makes him such a frustrating player. And Slot admitted that the Uruguayan, is struggling as he made it five games without scoring. He added: “Every striker around the ball has a period where every ball goes in and sometimes he has a period when he tries so hard and it doesn’t go in. “We have other players who can score and Mo did today. “We would love to see Darwin score because every striker needs goals and that is why I kept him in for such a long time but unfortunately he couldn’t score.” The best chance of the game — until the goal — came in Girona’s first attack. Unfortunately for the home team, it fell to Daley Blind — although it will come as no surprise to Manchester United fans he completely missed the ball from six yards. LIVERPOOL maintained their 100 per cent start with victory over Girona. Check out the incredible stats behind their season so far... Alisson saved the follow-up from Alejandro Frances and then threw out a desperate arm to avoid being beaten at his near post by Miguel Gutierrez. The Brazilian stopped an effort from an offside-looking Bryan Gil . But his finest moment came before the break when he used both his hands to save a decent strike from former Watford midfielder Yaser Asprilla. Just seconds into the second half, Alisson was at it again, denying Arnaut Danjuma this time. Girona’s defence certainly had few problems dealing with the Liverpool attack, who looked to have run out of ideas when Diaz fell to the ground after tangling with Van de Beek. French referee Benoit Bastien told Diaz to get up as he thought it was a dive. Yet after Andy Robertson’s shot had been saved for a corner, VAR checked over the clash. Bastien was called over to the screen and did not take long before pointing to the spot — and Salah stuck away the penalty by sending the keeper the wrong way. Liverpool avoided any late dramas to record an 18th win in 21 matches for Slot. When he landed on Merseyside, at no stage did he think it would be this easy.Grande, 31, also said her co-star was a “brilliant gift of a human being” while being interviewed by Gladiator star Paul Mescal for US news outlet Variety. Mescal told the singer and actor: “I’m watching you guys in the press tour. You’re obviously in love with each other.” To which she replied: “Insufferable. Yes. We’re horrible. It’s bad.” The 7 Rings singer plays Glinda, while her 37-year-old co-star plays Elphaba, in the film which is an adaption of the musical stage show of the same name and is set in The Land Of Oz before the events of The Wizard Of Oz. Their interviews for the film, which have seen the two being emotional towards one another and holding hands, have gone viral on social media. Speaking about Erivo, Grande said: “Cynthia is just an absolute brilliant gift of a human being. I think we tried to keep the pressure out of the room, obviously, as much as possible.” She also said she had not had any read throughs with her co-star before joining the cast. Grande said: “We never chemistry read together, it was three rounds for me, and I read with two different actresses. “I stayed for three and a half hours the final day, and I had cried so much. “We did Popular, Defying Gravity, (and) For Good (songs from the film), and I left my lashes on the mirror, because I left everything else in the room.” The film follows Elphaba, who is misunderstood because of her green skin, as she forges an unlikely friendship with Glinda, a student with a desire for popularity. Bullying of the green-skinned witch saw the movie, which also stars Peter Dinklage, Jeff Goldblum and Jonathan Bailey, given a PG rating by the British Board Of Film Classification (BBFC) for “discrimination”.
AAR to announce second quarter fiscal year 2025 results on January 7, 2025