Finance/Economy News

• Denny’s Closures: Denny’s will close 150 restaurants by 2025 due to reduced traffic and rising costs.
• Target Holiday Discounts: Target is cutting prices on 2,000 items for a lean holiday season affected by inflation and fewer shopping days.
• Walmart and Aldi Thanksgiving Deals: Walmart and Aldi announced low-cost Thanksgiving meal deals to attract budget-conscious shoppers.
• Bed Bath & Beyond Reopens: Bed Bath & Beyond is reopening smaller stores after bankruptcy, backed by parent company Beyond.
• HSBC Restructure: HSBC is splitting operations into Eastern and Western markets to cut costs and manage geopolitical tensions.
• Amazon’s New E-Commerce Service: Amazon will launch a low-price e-commerce platform to compete with Chinese rivals like Temu.
• US Economic Growth: The US economy is projected to grow 2.8% in 2024, leading the G7 due to strong consumer spending.
• Prescription Delivery Race: Walmart and Amazon are expanding same-day prescription delivery, competing for dominance in the market.

Technology News

• GM’s Super Cruise Expansion: GM is expanding its hands-free driving tech, Super Cruise, to 750,000 miles of roads.
• Plug-in Hybrid Sales Lag: PHEVs aren’t gaining traction despite automakers’ push to meet environmental regulations.
• AI Election Misinformation: AI-driven misinformation is spreading as the US election approaches, especially around natural disasters.
• Cisco Securing the Grid: Cisco is using AI and IoT to help modernize and secure the aging US energy grid.
• Meta Bans Jet Trackers: Meta suspended accounts tracking celebrity private jets due to safety concerns.

BRICS Summit Defies West

Russian President Vladimir Putin hosted leaders from 30 nations in Kazan for the BRICS Summit, now expanded with Ethiopia, Egypt, Iran, and the UAE. Key discussions focused on economic cooperation and further group expansion. Global media viewed the summit as a challenge to Western dominance and a rejection of U.S. efforts to isolate Russia over the Ukraine invasion. Non-Russian outlets highlighted peace talks and sanctions avoidance, while Russian media emphasized BRICS’ shared values and growing global influence.

Left’s Opinion:

• Putin’s Diplomatic Victory: Left-leaning perspectives emphasize Putin’s attempt to portray himself as a global statesman despite Western isolation.
• BRICS as a Counterbalance: The summit is seen as part of an effort to challenge the U.S.-led world order and rebalance global power dynamics.
• Sanctions Avoidance: The left highlights the strategic aim of the summit to evade Western sanctions, especially in light of Russia’s isolation due to the Ukraine war.
• Xi’s Support for Russia: The left points to Xi Jinping’s symbolic gestures of support for Putin, underscoring China-Russia cooperation against Western influence.

Right’s Opinion:

• BRICS vs. EU Structure: The right emphasizes that BRICS operates without binding rules or obligations, unlike the EU, and is based on shared values and mutual interests.
• Non-Aggressive Intent: BRICS is portrayed as not being anti-Western or targeting any specific nations, focusing solely on mutual benefit.
• BRICS’ Growing Influence: The right highlights BRICS’ expanding membership and its significant global representation in population and GDP.
• Flexible Association: The right values BRICS’ lack of formal organization, seeing it as a flexible coalition driven by cooperation rather than rigid rules.