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Morning Brew Daily
Black Friday Hits $11B in Sales & Australia Bans Social Media for Kids Under 16
Dec 2, 2024
Black Friday saw a staggering $10.8 billion in online sales, showcasing shifting consumer habits. Australia made headlines as the first nation to ban social media for kids under 16, raising significant concerns about enforcement. Meanwhile, Trump's warning to BRICS nations signals a tension in global economics. Coffee prices soar due to weather impacts, and a bizarre twist in the art world involves a $6.2 million banana being eaten. Lastly, the stock market rebounds, and 'Moana 2' enjoys a successful weekend at the box office.
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Quick takeaways
- Black Friday 2023 saw record online sales nearing $11 billion, driven by effective marketing tactics and changes in consumer behavior.
- Australia's groundbreaking legislation prohibits social media access for children under 16, reflecting increasing concerns over youth mental health and online safety.
Deep dives
Understanding the BRICS Nations and De-Dollarization
BRICS nations, which include Brazil, Russia, India, China, and South Africa, are exploring alternatives to the U.S. dollar for international trade. This interest stems from geopolitical tensions, particularly after the U.S. imposed sanctions on Russia due to its actions in Ukraine. The drive for de-dollarization aims to lessen reliance on the U.S. dollar, which has dominated global trade for decades. In response, the U.S. has warned of significant tariffs against nations pursuing this path, highlighting the complexities of the global economic landscape.
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Discover
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