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The National Park Service said Tuesday it is going to start charging the millions of international tourists who visit U.S. parks each year an extra $100 to enter some of the most popular sites, while leaving them out of fee-free days that will be reserved for American residents.The announcement declaring “America-first entry fee policies” comes as national parks deal with the strain of a major staff reduction and severe budget cuts, along with recovering from damage during the recent government shutdown and significant lost revenue due to fees not being collected during that time.The fee change will impact 11 national parks, including the Grand Canyon, Yellowstone and Yosemite, according to the U.S. Department of the Interior.As part of the changes, which are set to take effect Jan. 1, foreign tourists will also see their annual parks pass price jump to $250, while U.S. residents will continue to be charged $80, according to the department’s statement.Interior Secretary Doug Burgum said in a post on the social platform X that the changes make sure U.S. taxpayers who support the park service “continue to enjoy affordable access, while international visitors contribute their fair share to maintaining and improving our parks for future generations!”A White House post on X laying out the increased fees ended with the phrase, “AMERICANS FIRST.”The announcement follows a July executive order in which President Donald Trump directed the parks to increase entry fees for foreign tourists.“There’s a lot to unpack in this announcement, including many questions on its implementation all which NPCA will raise with the Department of Interior,” Kati Schmidt, a spokesperson for National Parks Conservation Association, said in an email.The U.S. Travel Association estimated that in 2018, national parks and monuments saw more than 14 million international visitors. Yellowstone reported that in 2024, nearly 15% of its visitors were from outside the country, which was down from 30% in 2018.The money made off the new fees will help support the national parks, including with upgrading facilities for visitors and maintenance, according to the statement.The “resident-only patriotic fee-free days” next year include Veterans Day, which was one of the parks’ eight free days open to everyone in 2025. The Department of the Interior had announced those days by saying they wanted to ensure that “everyone, no matter their zip code, can access and enjoy the benefits of green spaces and our public lands.” Golden reported from Seattle. Hallie Golden and Matthew Daly, Associated Press
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E-Commerce
Shares in Europe and Asia advanced on Wednesday after benchmarks on Wall Street surged on hopes the Federal Reserve will soon opt to cut interest rates.The future for the S&P 500 gained 0.3%, while that for the Dow Jones Industrial Average was up 0.2%.In early European trading, Germany’s DAX gained 0.2% to 23,500.98, while the CAC 40 in Paris also rose 0.2%, to 9,623.22. Britain’s FTSE 100 edged 0.1% higher.In Asia, Tokyo’s Nikkei 225 rose 1.9% to 49,559.07 in a broad rally that encompassed major exporters and technology shares. However, shares in Kioxia dropped 14.9% on reports that Bain Capital plans to sell $2.3 billion of the computer memory maker’s shares.In South Korea, the Kospi gained 2.7%, to 3,960.87, helped by a 3.5% gain for Samsung Electronics, the market’s biggest heavyweight. Computer chip maker SK Hynix climbed 1%.Taiwan’s Taiex surged 1.9%.Chinese markets were mixed.Hong Kong’s Hang Seng rose 0.1% to 25,928.08 and the Shanghai Composite index slipped 0.2%, to 3,864.18.Chinese e-commerce and technology giant Alibaba fell 1.9%. Its U.S.-traded shares fell 2.3% on Tuesday after its profit fell short of forecasts, though it reported stronger revenue than analysts had expected for the latest quarter.Australia’s S&P/ASX 200 climbed 0.8% to 8,606.50. In New Zealand, the S&P/NZX 50 added 0.6% after the central bank cut its official cash rate to 2.25% from $2.5%.U.S. markets will have a shortened trading week due to the Thanksgiving holiday, closing on Thursday and opening for shorter hours on Friday.On Tuesday, the S&P 500 rose 0.9% and the Dow Jones Industrial Average rallied 1.4%. The Nasdaq composite gained 0.7%.Easier interest rates can give particularly big boosts to smaller companies, because many of them need to borrow to grow. The Russell 2000 index of the smallest U.S. stocks jumped 2.1% to lead the market.Mixed economic data left traders betting on a nearly 83% probability that the Fed will cut in December, according to data from CME Group.Shoppers bought less at U.S. retailers in September than economists expected, while confidence among U.S. consumers worsened by more in November than expected, signals the economy could use help from lower interest rates.Easier rates can boost the economy by encouraging households and companies to borrow more and investors to pay higher prices for investments than they would otherwise.Another report said U.S. inflation at the wholesale level was a touch worse in September than expected, but a closely tracked underlying trend was slightly better. Lower interest rates can worsen inflation, and higher prices are the main reason the Fed has been holding back on rate cuts.Later Wednesday, the U.S. was due to release more data that had been delayed by the six-week long government shutdown.The Fed has already cut rates twice this year in hopes of shoring up the slowing job market.In other dealings early Wednesday, U.S. benchmark crude oil gained 5 cents to $58.00 per barrel. Brent crude, the international standard, picked up 8 cents to $61.88 per barrel.The U.S. dollar rose to 156.46 Japanese yen from 156.06 yen. The euro rose to $1.1575 from $1.1569. Elaine Kurtenbach, AP Business Writer
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E-Commerce
Since 2019, Abercrombie & Fitch Co. has undergone a resurrection from discarded early-2000s mall brand to a sought-after brand for millennials and older Gen Zs. Abercrombie reported $1.29 billion in revenue for quarter three, up 7% year-over-year. The Tuesday, November 25 earnings report is the twelfth in a row with consecutive growth between quarters. The company also beat Wall Streets predicted $1.28 billion in revenue and reached earnings per share of $2.36 earnings, rather than the estimated $2.16, according to consensus estimates cited by CNBC. Abercrombies shares (NYSE:ANF) closed up more than 37% on Tuesday, though the stock is still down 39.63% from the start of 2025. Notably, the most recent growth of Abercrombie (the company) hasnt been fueled by Abercrombie (the brand). This quarter saw the retail stores net sales sink 2% year-over-year to $617.35 milliona 7% decrease in comparable sales. Its an improvement from quarters one and two, during which the brand also saw declines in net sales: a 4% reduction year-over-year to $547.95 million in quarter one and a 5% drop year-over-year to $551,868 in quarter two. Instead, it was another brand beloved by millennials as teens that has held up the once logo-tee-and-low-rise-jean-adorned fort. Abercrombie-owned Hollister reported $673.27 million in net sales for the most recent quarter. This figure represents a 16% increase year-over-year and a 15% jump in comparable sales. Hollisters success left the company with a 7% improvement in net sales year-over-year. Hollister has maintained significant positive growth, reporting 19% and 22% increases in net sales year-over-year during quarters one and two, respectively. In an earnings call for quarter two, CEO Fran Horowitz attributed the Abercrombie brands decline to marking down and selling old inventory. This time around, Horowitz appeared happy enough to have made progress, stating, Abercrombie brands made sequential progress in-line with our expectations, and we are tightly managing inventory as we aim for fourth quarter brand net sales to be approximately flat to last years record. Abercrombie expects a 6% to 7% growth overall for net sales in fiscal 2025, remaining confident it will reach a new record high.
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E-Commerce
The Thanksgiving travel period is in full swing. Today is the last day before Thanksgiving, which means millions of Americans will be taking to the skies to reach their holiday destinations. And myriad more will also be traveling to airports to pick up their incoming loved ones. But on one of the busiest travel days of the year, flight delays and cancellations are inevitable. Here are some tools to track delays, along with information on which airports are currently experiencing the worst delays and cancellations. FAA says this is the busiest Thanksgiving travel period in 15 years Earlier this week, Fast Company reported on the American Automobile Association (AAA)’s latest data, which revealed that this Thanksgiving travel period will be the busiest in six years. The AAA defines the 2025 Thanksgiving travel period as running from Tuesday, November 25, to Monday, December 1. During that time, the AAA says 81.83 million Americans will be traveling by road, air, or other means, including 6.07 million by plane. The Federal Aviation Administration (FAA) has released its own estimation, which largely concurs with the AAAs data. Last Friday, the FAA announced that this Thanksgiving travel period will be the busiest in 15 years. The agency says that more than 360,000 flights will take place during the period, shuffling travelers to and from their Thanksgiving destinations. (Its worth noting that the FAAs Thanksgiving period differs slightly from the AAAs period. The FAA says the Thanksgiving period runs from Monday, November 24, to Tuesday, December 2.) The FAA has also forecast the number of flights in the air for each day over the period, including: Monday, November 24: 48,173 Tuesday, November 25: 52,185 Wednesday, November 26: 50,130 Thursday, November 27 (Thanksgiving): 25,611 Friday, November 28: 41,560 Saturday, November 29: 46,288 Sunday, November 30: 51,268 Monday, December 1: 49,676 Tuesday, December 2: 47,423 The more flights scheduled, the greater the chance of delays and cancellations. This map reveals which airports currently have the most delays and cancellations Delays and cancellations happen for several reasons. According to the FAA, the top five causes of delays in the National Airspace System (NAS) include: Weather (which causes about 62.6% of all delay minutes) Volume (13.5%) Runway (8.3%) Equipment (1%) Other/Staffing (14.6%) In other words, even if it’s sunny and clear skies in the departure or arrival destinations, the sheer volume of scheduled flights, runway availability, equipment issues, and staffing issues can still cause delays. If you have to make a trip to the airport today for any reason, it’s a good idea to keep an eye on where delays are occurring, as they can not only cause flights to depart later than scheduled but also lead to increased crowds in terminals and parking lots. FlightAware.com offers an interactive map, aptly named the Misery Map, which shows the current delays at some of Americas busiest airports. As of the time of this writing, the Misery Map shows that between 10 a.m. and 2 p.m. today, 63 flights are currently delayed and three have been canceled (keep in mind, this information is updated regularly). The Misery Map shows that the highest number of delays during that time period is at Dallas Fort Worth International Airport (DFW), where nine delays are currently listed. Ronald Reagan Washington National Airport (DCA) currently has the next-most delays, at eight. All three presently listed cancellations for the period are from flights at MinneapolisSaint Paul International Airport (MSP). For the day, FlightAwares expanded data currently shows 549 delays for U.S. flights, as well as 25 cancellations. If you do need to head to the airport today, whether to catch a flight or pick someone up, the best practice is to track the relevant flights information directly in the airlines app or on its website, and to contact the airline directly if you have any concerns about delays or cancellations.
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E-Commerce
In an age of high-turnover trends, ubiquitous screens, and fractured attention spans, a lengthy televised parade organized by a venerable department store sounds like a relic of a bygone era. But somehow, the Macys Thanksgiving Day Parade has in recent years proved itself to be startlingly popular and relevant. In 2024, the parade drew an estimated 31.7 million viewers on NBCs broadcast and Peacock streaman all-time record, and a bigger audience than the Oscars or any entertainment broadcast. This years parade will include, along with balloons featuring legacy characters like Snoopy and Minnie Mouse, a Pop Mart float with an oversized Labubu, a Stranger Things float featuring a Demogorgon, and performances by a singing trio from KPop Demon Hunters and Wicked: For Good star Cynthia Erivo. Macys is stubbornly unforthcoming on the economics of its parade, and a spokesperson told Fast Company that it was unable to discuss and disclose financials of the event. But it certainly appears to be a bright spot for the retailer, which over the past decade has closed scores of locations and laid off thousands of workers. Various reports suggest the 2024 version cost an estimated $13 million to produce, with longtime partner NBC paying $20 million for broadcast rights. Macys and NBC announced a new 10-year deal earlier this year, and while terms were not disclosed, The Wall Street Journal reported the new proposal was on the order of $60 million for annual rights to the Thanksgiving parade, a July 4 special, and a new event thats to be determined. This reflects how valuable the parade, in particular, seems to have become for its ability to draw a mass audience, with NBC reportedly selling 30-second ad spots for $900,000. The Friendsgiving in Pop City float will be featured in the 99th Macy’s Thanksgiving Day Parade on November 27. [Photo: Eugene Gologursky/Getty Images for Macy’s] A successful, unchanged formula The parade dates back to 1924 and has been televised nationally on NBC since 1954. While Macys describes it as a gift to the nation, its one that has long since become a business in its own right. According to a report from 2019, a brand sponsoring a new balloon could expect to pay around $200,000 in construction and parade fees. But this, of course, yields a couple of minutes of on-air discussion of the brand or entertainment propertys balloon (or float or performance) from the broadcast hosts. This is how the parade has worked for decadesand maybe that essentially unchanged formula helps explain its success. By now its an iconic event, deeply embedded in pop culture via numerous appearances in movies and TV shows, and countless memories. Even if you havent watched the parade in years, you know the gist. So one theory of the events resilient popularity is that it is, like turkey and stuffing, an elevated variation on comfort food. A decade-plus ago, as many mainstream broadcast events began to see their audiences shrink, the parade held steady, in effect growing its influence simply by standing still. But in the last few years, that audience hasnt just stood still but actually begun to grow, topping earlier viewer records. The Macys spokesperson credits the talented Macys Studio team of artisans and other experts who craft the event, and certainly the proceedings are as lavish as ever. Among the character balloons set to fly high above Manhattan at this years parade are Mario of Super Mario Bros. fame, and recurring favorite Freida the Dachshund. [Photo: Eugene Gologursky/Getty Images for Macy’s] A more interesting theory, though, is that a broadcast parade is ideal for a fractional-attention world. Theres something new every few minutes and none of it requires deep concentration. This years event includes 34 balloons, 28 floats, 28 performers, 11 marching bands, and 33 clown crews, meaning the parade is nonstop novelty. It is essentially an analog, marching scroll. In a kind of virtuous circle, the audience attracts pop culture brands, which attracts a bigger audience. A Macys executive involved in producing the parade told the Freakonomics podcast last year that the goal is to balance legacy characters against new characters, in effect addressing an all-ages audience. Even better: All the content is basically escapist and certainly apolitical, providing an endless stream of excuses to change the subject to something benign when that cranky uncle starts looking for a squabble. And while Macys may be opaque about the business details that help shape the specific contents of any given years parade, achieving that balance between contemporary relevance and timeless tradition is likely a key to attracting its audience. And sure, the whole thing is essentially an intertwined marketing eventa series of pop culture and brand promotions, under the auspices of Macys own brand. But nobody really seems to mind. Perhaps on the eve of Black Friday this is exactly what many are looking for. A Macys spokesperson calls the parade the official kickoff to the holiday season. That seems to be truer than ever.
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E-Commerce