>>Federal Reserve Likely To Make Cuts To Interest Rates In Spring
(Washington, DC) -- The Federal Reserve will likely make deep cuts to interest rates this spring. That's according to a new estimate from UBS Investment Bank. The cuts could come as early as March. UBS said easing inflation could pave a way for a two-point-seven-five percent decrease in the interest rate over the year. That would almost halve the current nearly five-and-a-half percent rate. It also predicted the economy would go into a recession by next year's second quarter, which would enable a rate cut.
>>Retail Experts Predict Fewer Toys Under The Christmas Tree This Year
(New York, NY) -- Retail experts say there may be fewer presents under the Christmas tree this year because consumers are buying fewer toys. The experts say Barbie dolls, Transformers and Hot Wheels are on the top of children's wish lists this year, but that parents worldwide are struggling with high inflation. Reuters says many retailers ordered fewer toys than usual this holiday season, anticipating lower demand. Some experts, however, are expecting a late surge in demand. A spokesperson for Mattel says they're expecting a good season, and are already seeing some early Black Friday sales.
>>Starbucks Union Plans Strike For Red Cup Day
(Buffalo, NY) -- Starbucks union workers are planning their largest strike ever for one of the coffee chain's busiest days of the year. Starbucks Workers United said in a news release that it is demanding the company come to an agreement over staffing and scheduling issues on Red Cup Day, along with turning off mobile ordering for big promotion days. The union says the yearly event in which Starbucks gives away free reusable holiday cups is its "biggest sales event of the season" and "one of the most infamously hard, understaffed days for the baristas that work them."
>>NBA, Sotheby's Partner For Game Worn Jersey Auctions
(New York, NY) -- The NBA and auction house Sotheby's are giving basketball fans the chance to own game worn jerseys from their favorite players. The two announced a multi-year partnership that makes Sotheby's the official game-worn source of the NBA. The first auctions kicked off Tuesday with a selection of more than 60 jerseys worn by NBA players in the first games played this season. Among them is the jersey worn by rookie sensation Victor Wembanyama in his debut game with the San Antonio Spurs. The jersey is expected to sell for between 80-and-120-thousand dollars.