This year American consumers are expected to take advantage of retailers' holiday promotions and spend big on gifts for themselves. Fifty-nine percent of shoppers polled plan to "self-gift" — the highest number in a retail industry survey's 10-year history.
Debate over the so-called fiscal cliff has dominated the post-election agenda. But the challenge of dealing with long-term debt and the annual deficit has been brewing for years. And one man who has kept his focus and money on that target is the billionaire Peter G. Peterson.
According to a bankruptcy judge, Hostess and the major union representing its workers need to try to mediate their differences before the company can be liquidated. So maybe the company's taste treats won't disappear anytime soon.
The line between Black Friday and Thanksgiving gets blurrier every year. This year, employees and consumers are circulating petitions protesting retailers' plans to open on Thanksgiving. Journalist Lewis Turner says he's worked on eight of the last ten turkey days, and it's not all bad.
Sales of existing homes rose again in October. Meanwhile, home builders are the most confident they've been in more than six years. Taken together, the reports are the latest signs that the housing sector is on the mend.
For those who want to buy bling with bling, a bank in Kazakhastan plans to offer a Visa card made of gold plus a couple of dozen diamonds and mother of pearl. It will require $100,000 upfront, and an annual fee of $2,000 — but there are no late frees and you get a free iPhone.
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