Landlords could no longer rely on rent-pricing software to quietly track each others moves and push rents higher using confidential data, under a settlement between RealPage Inc. and federal prosecutors to end what critics said was illegal algorithmic collusion.
The deal announced Monday by the Department of Justice follows a yearlong federal antitrust lawsuit, launched during the Biden administration, against the Texas-based software company. RealPage would not have to pay any damages or admit any wrongdoing. The settlement must still be approved by a judge.
RealPage software provides daily recommendations to help landlords and their employees nationwide price their available apartments. The landlords do not have to follow the suggestions, but critics argue that because the software has access to a vast trove of confidential data, it helps RealPages clients charge the highest possible rent.
RealPage was replacing competition with coordination, and renters paid the price, said DOJ antitrust chief Gail Slater, who emphasized that the settlement avoided a costly, time-consuming trial.
Under the terms of the proposed settlement, RealPage can no longer use that real-time data to determine price recommendations. Instead, the only nonpublic data that can be used to train the softwares algorithm must be at least one year old.
What does this mean for you and your family?” Slater said in a video statement. “It means more real competition in local housing markets. It means rents set by the market, not by a secret algorithm.”
RealPage attorney Stephen Weissman said the company is pleased the DOJ worked with them to settle the matter.
There has been a great deal of misinformation about how RealPages software works and the value it provides for both housing providers and renters,” Weissman said in a statement. “We believe that RealPages historical use of aggregated and anonymized nonpublic data, which include rents that are typically lower than advertised rents, has led to lower rents, less vacancies, and more procompetitive effects.
However, the deal was slammed by some observers as a missed opportunity to clamp down on alleged algorithmic price-fixing throughout the economy.
This case really was the tip of the spear,” said Lee Hepner, senior legal counsel for the American Economic Liberties Project, whose group advocates for government action against business concentration.
He said the settlement is rife with loopholes and he believes RealPages can keep influencing the rental market even if they can only use public, rather than private, data. He also decried how RealPages does not have to pay any damages, unlike many companies that have paid millions in penalties over their use of the software.
Over the past few months, more than two dozen property management companies have reached various settlements over their use of RealPage, including Greystar, the nation’s largest landlord, which agreed to pay $50 million to settle a class action lawsuit, and $7 million to settle a separate lawsuit filed by nine states.
The governors of California and New York signed laws last month to crack down on rent-setting software, and a growing list of cities, including Philadelphia and Seattle, have passed ordinances against the practice.
Ten states California, Colorado, Connecticut, Illinois, Massachusetts, Minnesota, North Carolina, Oregon, Tennessee and Washington had joined the DOJ’s antitrust lawsuit. Those states were not part of Mondays settlement, meaning they can continue to pursue the case in court.
R.J. Rico, Associated Press
At Fleece & Harmony, a woolen mill and yarn shop in bucolic Belfast, Prince Edward Island, in Canada, owner Kim Doherty used to be able to send yarn skeins to U.S. customers across the border with little fanfare.The yarn orders usually met an import tax exemption for packages valued at under $800, meaning it could be imported tariff-free and avoid the customs process.But ever since the Trump administration eliminated the exemption as of Aug. 29, the cost to send yarn to U.S. customers has skyrocketed. The bill for a $21 ball of yarn now includes $12 to $15 in brokerage fees that her shipper UPS charges, plus state taxes and a 6.5% tariff, all of which almost doubles her costs.“We had orders that have reached the customers and they’re in shock about the fact that they have to pay,” she said. “And it’s amazing how many people really didn’t know what the impact was going to be.”Getting rid of the so-called de minimis exemption was meant to curb drug trafficking and stop low-quality goods from discount sellers like Temu and Shein flooding the U.S. market.But as the all-important annual holiday shopping season kicks off, it is putting a crimp on small businesses and shoppers now facing higher costs.Chad Lundquist in Fort Lauderdale, Florida, ordered fragrance oil from a site called Oil Perfumery in October, but he didn’t realize the business was based in Toronto, Canada. His total was $35.75, which included an $8 standard shipping fee. But when his package arrived, he was hit with a $10.80 tariff bill from FedEx.“It wasn’t worth the $10 tariff for a $27 purchase,” Lundquist said. Oil Perfumery did not respond to a request for comment.He’s not the only skittish shopper. Three months after the exemption ended, sellers abroad are reporting drastic declines in U.S. sales. Some are paying the duties themselves instead of passing them to consumers. They are also trying to focus on domestic customers to replace U.S. ones and adjusting product lineups to feature best selling items to try to goose sales.Martha Keith, founder of British stationery brand Martha Brook, which is based in London with a small office in Melbourne, Australia, said U.S. sales from her Etsy store her main e-commerce channel in addition to her own website were up 50% for the year before the exemption ended. But sales fell dramatically when the tariffs hit, and continue to drop even though she’s paying the import taxes and customs fees herself so customers aren’t impacted. Sales are down about 30% year-over-year.“The issue seems to be in customer confidence hitting the desire to order from businesses outside of the U.S., because of confusion about how the tariffs will affect them,” Keith said.She’s also in a bind because she sold a 109 ($144) stationery advent calendar to about 200 U.S. customers ahead of the tariffs, and now she has to ship them. Shipping and tariffs will cost a combined 25 ($33), meaning Keith will have to find an additional 5,000 ($6,583) to cover shipping the advent calendars already sold.“The whole thing has been a bit of a nightmare for businesses like ours, and such a huge shame, as the U.S. market was such a valuable growth area for us, particularly through Etsy,” she said.The timing was particularly bad for Sue Bacarro, who along with her sister co-owns Digi Wildflowers, an Etsy shop that sells embroidered baby blankets, gifts and custom quilts for wedding and anniversaries, located across the border from Detroit in Windsor, Ontario.Before the announcement of the removal of the de minimis exemption, they placed a large inventory order to prepare for the holiday season and early 2026 demand. But when the de minimis exemption ended, “inventory wasn’t moving as expected, and we suspected customers were hesitant to purchase due to potential duty charges,” Bacarro said.Sales 70% of which come from Americans finally started to rebound when Digi Wildflowers prominently added a banner on its site that said, “U.S. Import Duties On Us.”“Heading into this holiday season, we’re keeping that message front and center through banners, social media, and direct communication,” said Bacarro, who is also expanding their product line.But not all businesses can or want to pick up the tariff tab.Kim Doherty, who runs the woolen mill on Prince Edward Island, doesn’t plan to pay the tariff and fees for her customers.“I’m not in a position as a small business owner to do that. The profit margins are already rather thin,” said Doherty, adding that “on principle,” she shouldn’t have to do it.Right now, her shipments to U.S. customers are about 10% of what they were. Instead, she’s working on expanding her fiber offerings to Canadian customers at her brick-and-mortar store and fiber festivals.“We’ll see what happens,” she said. “I’m pretty sure that my U.S. customers were shopping and not even thinking about it, but now they’ll be evaluating the purchases that they’re making, knowing that they are going to have the extra fees on top of whatever they see.”Some Etsy businesses have been stymied by international postal services temporarily halting deliveries to the U.S. because of the confusion around the ending of de minimis.Selene Pierangelini’s business, Apricot Rain Creations, based in Brisbane, Australia, which sells crystals, candles, and spiritual wellness products on Etsy, depended on the Australia Post to get deliveries to U.S. customers. More than three-fourths of her customer base comes from the U.S. Australia Post suspended service to the U.S. for about a month, resuming on Sept. 22.She temporarily switched to FedEx and UPS private shippers that are more expensive than Australia Post. Since it resumed, Australia Post is working with Zonos, a provider of cross-border shipping technology, to offer a shipping calculator that lets her prepay duties and fees. They themselves charge a fee of $1.69 plus 10% of the total duty fee.So far, the items she ships from Australia have been tariffed at a 10% rate, the baseline tariff for the country. She increased her shipping costs to help cover the expense. It is manageable, but tricky, she said.“You don’t really know how much (the cost) is going to be until the package clears custom in the U.S., and you get an invoice which is automatically paid out of your account,” she said.And her sales have not recovered. Before the tariffs, her U.S. sales were about 85% of her total sales, and now they’re around 35%. She’s hopeful people are just holding off until Black Friday and Cyber Monday holiday sales.In the meantime, she has restarted sales to Europe, which she had paused in 2024 due to increased regulations. And she’s launched a Facebook marketing campaign and is exploring print-on-demand services from U.S.-based providers for production and fulfillment.“This situation highlights how fragile small businesses can be when dependent on one market,” Pierangelini said. “While it has been a shock, it’s also pushed me to diversify something that will hopefully make my business stronger and more resilient in the long run.”
Mae Anderson, AP Business Writer
Most people don’t give the display screens on their commuter trains a second thought, but for designer Emily Sneddon, they’ve proved to be a well of inspiration.
Sneddon lived in San Francisco, where she worked at the design agency Collins, from 2021 until this year when she moved back to her home country of Australia. She designed Fran Sans, her first ever font, after noticing the display on San Francisco Municipal Transportation Agency’s (SFMTA) recently retired Muni Metro Breda Light Rail Vehicle.
[Photo: Spondylolithesis/Getty Images]
Unlike New York City, which handles its public transit through a single agency, the Metropolitan Transportation Authority (MTA), public transportation in San Francisco and the Bay Area is split between multiple independent public agencies, like SFMTA, Bay Area Rapid Transit (BART), and Caltrain, a commuter rail. That means there’s no de facto official font for public transportation in the Bay Area as there is in New York City with Helvetica, the official font of the city’s unified Metropolitan Transportation Authority (MTA).
So Sneddon made her own.
The font that became Fran Sans started first as a project documenting sans typography around San Francisco. The lettering from the train car display was supposed to be used on a zine coverthen it turned into a full-blown font.
Sneddon designed Fran Sans on a 3×5 grid after a monthslong research project that included a visit to SFMTA’s Electronics Shop at Balboa Park, consultation with Gary Wallberg, a senior engineer who designed the display signs in 1999, and a survey of modular typography curated by Letterform Archive, which is based in San Francisco.
“For me it wasn’t enough simply to create a 1:1 without digging further to find out more about the original designer that inspired this work,” says Sneddon. “It’s a myth that we’ve all seemed to have subscribed to that everything you’d want to know about is available online. But so many stories are all around us, and they haven’t been documented anywhere. The story of these displays was one of them.”
The original lettering on the displays didnt have all the characters, as Muni had no need for Qs, Xs, exclamation points, or semicolons, so Sneddon had to make her own. For now there are no lowercase letters, as that would require a different grid, and she also hasnt managed to come up with a suitable “@” sign yet. Fran Sans comes in three styles: solid, tile, and panel.
SFMTA finished replacing the Breda car with a new model this month that uses LED dot-matrix destination displays, which to Sneddon lack the character of the Breda car lettering. Fran Sans reintroduces some of those typographic quirks, like thin diagonals on the Z, 7, and M. Although those particularities can make the M look like an H at small sizes, theyre also what gives the font its charm.
Theres a perception that San Francisco is a place where people come to make their bread and leave, Sneddon says, from the gold rush in the 1800s to AI today, but moving to San Francisco taught her that theres a lot of community, a lot of love for the arts, and a lot of generosity in the city.
Hooboy, here we go again. Chevrolet has once more rolled out a tearjerker ad for the holidays.
Created by ad agency Anomaly, Memory Lane follows an older couple on their annual holiday drive to the family cottage in their well-loved 1987 Suburban. The trip takes them back to holiday memories and moments of years past that helped build their family. We see the kids go from babies and toddlers to bickering back-seat siblings to near-silent teens, all on the way to meeting them again as adults.
For just about any parent, this is an absolute field-goal kick to the cryballs. Its a story that is specific to this fictional group, but a sentiment that will touch on similar memories for many viewers. Its also continuing the brands streak of delivering an emotional, well-told family tale for the holidays since 2021.
Chevrolet CMO Steve Majoros told Ad Age that the strategy is not the hard sell, but rather to steer into the brands 114-year history. Im sure people are going to say, Oh, its the same formula and the same whatever, Majoros said. You know what? Theyd die to have the brand we have, and they would die to have the kind of connection we have with people, the legitimacy and credibility of our brand. So Im not going to apologize one bit.
And why should he? Let other brands that desperately need awareness go full brain rot on TikTok. Here, Chevy is aiming to reinforce a reputation and legacy built over the past century with a creative strategy as solid as the classic cars and trucks featured in these spots. The brands emotional connection lives on through an 87 Suburban, a 78 Silverado truck (2024), 72 Suburban (2023), 57 Chevy Nomad (2022), and 66 Chevy Impala (2021).
If I were ranking Chevys top three tearjerker holiday ads, this years would be a close third.
In second is 2023s A Time to Remember, which the brand created in partnership with the Alzheimer’s Association. It follows a granddaughter’s drive to bring back some memories for her grandmother with a cruise around town.
And in first place, last years The Sanctuary. Clocking in at more than five minutes, its a generational tale of fathers and sons that didnt feel overly sappy but definitely got some tough guys choked up.
Now, whos cutting the onions?
Tucked in a two-sentence footnote in a voluminous court opinion, a federal judge recently called out immigration agents using artificial intelligence to write use-of-force reports, raising concerns that it could lead to inaccuracies and further erode public confidence in how police have handled the immigration crackdown in the Chicago area and ensuing protests.U.S. District Judge Sara Ellis wrote the footnote in a 223-page opinion issued last week, noting that the practice of using ChatGPT to write use-of-force reports undermines the agents’ credibility and “may explain the inaccuracy of these reports.” She described what she saw in at least one body camera video, writing that an agent asks ChatGPT to compile a narrative for a report after giving the program a brief sentence of description and several images.The judge noted factual discrepancies between the official narrative about those law enforcement responses and what body camera footage showed. But experts say the use of AI to write a report that depends on an officer’s specific perspective without using an officer’s actual experience is the worst possible use of the technology and raises serious concerns about accuracy and privacy.
An officer’s needed perspective
Law enforcement agencies across the country have been grappling with how to create guardrails that allow officers to use the increasingly available AI technology while maintaining accuracy, privacy and professionalism. Experts said the example recounted in the opinion didn’t meet that challenge.“What this guy did is the worst of all worlds. Giving it a single sentence and a few pictures if that’s true, if that’s what happened here that goes against every bit of advice we have out there. It’s a nightmare scenario,” said Ian Adams, assistant criminology professor at the University of South Carolina who serves on a task force on artificial intelligence through the Council for Criminal Justice, a nonpartisan think tank.The Department of Homeland Security did not respond to requests for comment, and it was unclear if the agency had guidelines or policies on the use of AI by agents. The body camera footage cited in the order has not yet been released.Adams said few departments have put policies in place, but those that have often prohibit the use of predictive AI when writing reports justifying law enforcement decisions, especially use-of-force reports. Courts have established a standard referred to as objective reasonableness when considering whether a use of force was justified, relying heavily on the perspective of the specific officer in that specific scenario.“We need the specific articulated events of that event and the specific thoughts of that specific officer to let us know if this was a justified use of force,” Adams said. “That is the worst case scenario, other than explicitly telling it to make up facts, because you’re begging it to make up facts in this high-stakes situation.”
Private information and evidence
Besides raising concerns about an AI-generated report inaccurately characterizing what happened, the use of AI also raises potential privacy concerns.Katie Kinsey, chief of staff and tech policy counsel at the Policing Project at NYU School of Law, said if the agent in the order was using a public ChatGPT version, he probably didn’t understand he lost control of the images the moment he uploaded them, allowing them to be part of the public domain and potentially used by bad actors.Kinsey said from a technology standpoint most departments are building the plane as it’s being flown when it comes to AI. She said it’s often a pattern in law enforcement to wait until new technologies are already being used and in some cases mistakes being made to then talk about putting guidelines or policies in place.“You would rather do things the other way around, where you understand the risks and develop guardrails around the risks,” Kinsey said. “Even if they aren’t studying best practices, there’s some lower hanging fruit that could help. We can start from transparency.”Kinsey said while federal law enforcement considers how the technology should be used or not used, it could adopt a policy like those put in place in Utah or California recently, where police reports or communications written using AI have to be labeled.
Careful use of new tools
The photographs the officer used to generate a narrative also caused accuracy concerns for some experts.Well-known tech companies like Axon have begun offering AI components with their body cameras to assist in writing incident reports. Those AI programs marketed to police operate on a closed system and largely limit themselves to using audio from body cameras to produce narratives because the companies have said programs that attempt to use visuals are not effective enough for use.“There are many different ways to describe a color, or a facial expression or any visual component. You could ask any AI expert and they would tell you prompts return very different results between different AI applications, and that gets complicated with a visual component,” said Andrew Guthrie Ferguson, a law professor at George Washington University Law School.“There’s also a professionalism questions. Are we OK with police officers using predictive analytics?” he added. “It’s about what the model thinks should have happened, but might not be what actually happened. You don’t want it to be what ends up in court, to justify your actions.”
Claudia Lauer, Associated Press
With Thanksgiving just around the corner, a time when we give thanks and practice gratitude for what we have, we turned to neuroscience to find out if doing so actually makes us happier and healthier. Here’s what we found.
Is gratitude actually good for your health?
“People who are grateful live longer, are happier, and also tend to hit workplace markers like [making] more money, and [getting] promoted more frequently,” Emiliana Simon-Thomas, Ph.D., science director at U.C. Berkeleys Greater Good Science Center, tells Fast Company. “But the key is not a fake-it-till-you-make-it approachno, its real gratitude, real contentment, based on an accurate assessment of things, not through rose-colored glasses.”
Practicing gratitudein other words, not taking things for granted, but appreciating the good and bad in everyday lifecreates a heightened awareness of your values and strengths, plus a greater understanding of others. Plus, it creates greater emotional intelligence by increasing emotional regulation, empathy, and resilience.
In general, grateful people are more satisfied with their lives, less materialistic, and less likely to suffer from burnout, according to the Greater Good Science Center’s white paper, The Science of Gratitude.
What other kinds of health benefits come from being grateful?
A 2021 University of California, San Francisco (UCSF) study by David Newman and Wendy Mendes found that people who were deemed highest in gratitude reported lower heart rates, better sleep, less fatigue, a greater appreciation toward others, and overall feelings of pleasantness when reflecting on the best part of the day.
How does gratitude work in the brain?
“Expressing gratitude can positively change your brain,” Kristin Francis, M.D., a psychiatrist at Huntsman Mental Health Institute, says in the University of Utah’s Health blog HealthFeed. “It boosts dopamine and serotonin, the neurotransmitters in the brain that improve your mood immediately, giving you those positive feelings of pleasure, happiness, and well-being.”
What’s the best way to start practicing gratitude?
Studies show writing gratitude letters can significantly improve the mental health of people with depression and anxiety. In one study, individuals were asked to either write a gratitude letter, keep a journal, or do neither. Those who wrote gratitude letters reported significantly better mental health at 4 and 12 weeks following the study.
Simon-Thomas recommends what she calls Gratitude 1-2-3 to express gratitude this upcoming holiday:
Be specific about what you’re grateful for: Instead of saying, “Thanks for coming to dinner,” say, “Thanks for coming to my house for this Thanksgiving meal.”
Acknowledge the effort: “I know it took some effort to pack up the car and sit in traffic, so I am acknowledging effort.”
Share how what they did benefitted you: “Having you for Thanksgiving dinner made me so happy. It was a treat to see you after all these years.”
If you’re wondering how you’re doing, or looking for more suggestions, you can also take this gratitude quiz, based on a scale developed by psychologists Mitchel Adler and Nancy Fagley.
A health care proposal circulated by the White House in recent days is running into the reality of Republican divisions on the issue a familiar struggle for a party that has been trying to scrap or overhaul the Affordable Care Act for the past 15 years.The tentative proposal from President Donald Trump would extend expiring ACA subsidies for two years while adjusting eligibility requirements for recipients. The plan has so far been met with a stony silence on Capitol Hill as Republicans debate among themselves whether to overhaul the law, tweak it or simply let the subsidies expire.It’s unclear now when the White House plan might be released, or if it will be released at all.The Republican indecision comes as the COVID-era tax credits are set to expire Jan. 1, creating sharp premium increases for millions of Americans. Democrats who shut down the government for six weeks over the issue are demanding a straight extension with no changes, though some indicated they could support a plan similar to the one circulated by the White House.But support may be harder to find in the GOP conference, where many lawmakers say costs are still too high and have been eager to make another run at repealing the ACA. The last effort in 2017 failed when Republicans couldn’t decide on how to provide coverage to millions of Americans who depend on government-run marketplaces for their health care. It’s a dilemma that persists for the party after record numbers signed up for coverage this year.Senate Majority Leader John Thune, R-S.D., promised a group of moderate Democrats a vote on the ACA tax credits by mid-December in exchange for their votes to end the government shutdown. But it’s unclear, so far, whether that arrangement will lead to a solution.
Bipartisan compromise?
Health care has long been one of the most politically fraught topics on Capitol Hill, so a bipartisan compromise seems unlikely. But the coming price spikes have motivated some lawmakers to look for points of agreement.Republican Sen. Thom Tillis of North Carolina said last week that he hopes the subsidies are extended.“I’m sure some of my colleagues will be mad at me for saying this if we don’t address the subsidies issue in December, I don’t think it’s going to get addressed next year,” Tillis said, adding that Democratic campaigns will be “just churning up all the very sympathetic stories” if it isn’t fixed.The draft White House proposal would put new income limits on the tax credits at 700 percent of the federal poverty level, according to two people with knowledge of the proposal who requested anonymity to discuss it. The White House would also require those on Obamacare, regardless of the type of coverage, to pay some sort of premium for their plans. That would effectively end zero-premium plans for those with lower incomes, addressing a concern from Republicans who say the program has enabled fraud.Some Democrats have suggested they are open to those ideas as a part of broader negotiations. “I’m glad the president is reportedly considering a serious proposal,” said New Hampshire Sen. Jeanne Shaheen, one of the Democrats who voted to end the shutdown.Some Republicans have signaled support as well. Nebraska Rep. Mike Flood, the chairman of the business-oriented Republican Main Street Caucus, said in a statement that the group supports “President Trump’s ongoing efforts to address the ACA tax credit cliff with an extension.”Several bipartisan bills in the House would extend the ACA credits for two years, with changes such as income limits for the enhanced credit. “I think two years is really the sweet spot where everybody is OK,” said Pennsylvania Rep. Brian Fitzpatrick, a co-chair of the bipartisan Problem Solvers Caucus.
Premium spikes on Jan. 1
Still, House Speaker Mike Johnson, R-La., has declined to say whether he will allow a vote on a health care bill. Many other members of his GOP conference want to see the subsidies eliminated or the underlying law overhauled. In addition, Thune and other Republicans have said they want new language on abortion restrictions if they pass an extension a dealbreaker for Democrats.If Congress doesn’t act, the enhanced premium tax credits that have helped many Americans pay for Affordable Care Act health insurance plans will disappear. And premiums could more than double for subsidized enrollees, according to an analysis by the health care research nonprofit KFF.Signups for next year’s insurance began on Nov. 1, meaning that many Americans are already planning for the higher costs. Democrats who forced the shutdown at the beginning of October had hoped to negotiate an extension before open enrollment began.“When people’s monthly payments spike next year, they will know it was Republicans that made it happen,” Senate Democratic leader Chuck Schumer said last week.
Republicans could go at it alone
As Democrats elevated the health care issue during the shutdown, some Republicans saw an opportunity to renew their efforts to overhaul the law. GOP lawmakers in the House and Senate have been meeting to find consensus, though they haven’t found it yet.Among the GOP ideas are separate proposals from Florida Sen. Rick Scott and Louisiana Sen. Bill Cassidy to use savings accounts to either shop for insurance or defray out-of-pocket costs. Scott’s legislation would create what he called “Trump Health Freedom Accounts” and make some changes to the health care law, including by allowing consumers to shop across state lines. Cassidy’s narrower bill would create new savings accounts just to replace the enhanced subsidies that are expiring.The draft of the White House plan, meanwhile, would allow those in lower-tier plans, such as the bronze-level or catastrophic plans, to put money into health savings accounts.Those proposals are unlikely to win over Democrats. Schumer said last week that the savings accounts “will go nowhere in the Senate.”Skeptical that the two parties will ever agree, some Republicans have suggested that they try to pass a health care package using budget maneuvers similar to Trump’s ” Big Beautiful Bill ” of tax and spending cuts. If it worked, they could pass the legislation with zero Democratic votes a politically risky strategy that could take months, well into the midterm election year.
It all depends on Trump
Some Republicans may be waiting for clear direction from Trump, who has been sending mixed signals about what he wants.For several weeks, Trump appeared to be backing the savings accounts on social media, posting as recently as Nov. 18 that “THE ONLY HEALTHCARE I WILL SUPPORT OR APPROVE IS SENDING THE MONEY DIRECTLY BACK TO THE PEOPLE, WITH NOTHING GOING TO THE BIG, FAT, RICH INSURANCE COMPANIES, WHO HAVE MADE $TRILLIONS, AND RIPPED OFF AMERICA LONG ENOUGH.”He added: “Congress, do not waste your time and energy on anything else.”Trump reiterated that message Tuesday evening.“Don’t give the money to the insurance companies,” he told reporters Tusday evening. “You give the money to the people.”
Associated Press writers Seung Min Kim, Joey Cappelletti, Kevin Freking in Washington and Ali Swenson in New York contributed to this report.
Mary Clare Jalonick, Associated Press
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
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
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.
