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US consumer confidence plunges to four-year low

US consumer confidence plunges to four-year low

Consumer confidence in the United States has continued its sharp 2025 decline as Americans’ views about their financial futures slumped to a 12-year low, driven by rising anxiety over tariffs and inflation. The Conference Board reported on Tuesday that its consumer confidence index fell 7.2 points in March to 92.9, the fourth straight monthly decline and its lowest reading since January of 2021. The reading was short of analysts’ expectations for a reading of 94.5, according to a survey by FactSet. The business group found that the measure of Americans’ short-term expectations for income, business and the job market fell 9.6 points to 65.2. That’s the lowest reading in 12 years and well below the threshold of 80, which The Conference Board says can signal a potential recession in the near future. The proportion of US consumers anticipating a recession remains at a nine-month high, the board reported. “Consumers’ optimism about future income — which had held up quite strongly in the past few months — largely vanished, suggesting worries about the economy and labour market have started to spread into consumers’ assessments of their personal situations,” said Stephanie Guichard, senior economist at The Conference Board. Advertisement US President Donald Trump’s on-and-off-again tariffs have been panned by economists for sowing confusion and uncertainty that they said was making it challenging for businesses to plan ahead, to the detriment of the economy. Trump on Monday indicated that not all of his threatened duties would be imposed on April 2 and some countries may get breaks, but at the same time said tariffs on imported automobiles were coming soon. “Consumers are rattled,” said Carl Weinberg, chief economist at High Frequency Economics. “At great personal risk, we will opine that the chaos in Washington has something to do with this. The decline in consumer sentiment since the November election can no longer be written off as a coincidence.” The fourth straight monthly decline in confidence mirrored a similar deterioration earlier this month in the University of Michigan’s consumer sentiment measure, which has also erased all the gains notched in the aftermath of Trump’s election victory in November. ‘Meaningful pressure’ on profits The Trump administration has largely played down the souring mood among Americans, saying it doesn’t necessarily reflect what’s happening in the actual economy. This argument is similar to what officials in former US President Joe Biden’s administration said as high inflation suppressed consumer confidence without undermining growth. Yet some of the nation’s biggest retailers, who have noted a shift in consumer behaviour, are telling a different story. Walmart has thrived with Americans trying to offset higher prices by seeking bargains. Late last month, however, the nation’s largest retailer slashed its profit forecast for this year. Its sales outlook was also conservative and the company does not include the potential impact of tariffs in its expectations for 2025. Advertisement Target’s sales and profit slipped during the crucial holiday quarter, and the company predicted that there would be “meaningful pressure” on its profits to start the year in part because of tariffs on Mexico, Canada and China. Macy’s, Best Buy, Abercrombie & Fitch, Dollar General and others also have grown cautious about their expectations for 2025, with many citing “economic uncertainty”. The Conference Board’s survey showed that purchasing plans for both homes and cars declined. However, in somewhat of a surprise given respondents’ anxiety about the future, intentions to buy big-ticket items like appliances increased. The board said that could reflect a desire to buy before the tariffs kick in and price increases. While inflation has retreated from its highs during the post-pandemic rebound, it has remained above the Federal Reserve’s two percent target. Those still-elevated prices, combined with the announced tariffs on many imported goods, have Americans feeling sour about spending as concerns about the economy mount. Consumers had appeared increasingly confident heading into the year-end holidays, and spent generously at the end of 2024. One month later, however, in January 2025, US retail sales fell sharply, though cold weather shared some of the blame. Earlier this month, the government reported that Americans stepped up their spending in February after the sharp early-year pullback, but only tepidly. The board reported Tuesday that consumers’ view of current conditions decreased 3.6 points to 134.5. Advertisement The consumer confidence index measures both Americans’ assessment of current economic conditions and their outlook for the next six months. Consumer spending accounts for about two-thirds of US economic activity and is closely watched by economists for signs about how the American consumer is feeling. Adblock test (Why?)

Bucks’ Damian Lillard injured with blood clot in calf, out indefinitely

Bucks’ Damian Lillard injured with blood clot in calf, out indefinitely

Milwaukee Bucks’ championship aspirations are in jeopardy, with star Damian Lillard diagnosed with deep vein thrombosis. Milwaukee Bucks All-Star guard Damian Lillard has deep vein thrombosis in his right calf, the team announced. According to the Bucks, Lillard is on a blood-thinning medication that has stabilised his condition, and he will continue to undergo testing. The team did not provide a timetable for Lillard’s return on Tuesday, only saying updates would be provided as appropriate. “Damian’s health is our No. 1 priority,” Bucks general manager Jon Horst said in a statement. “We will support him as he moves through his weekly process of strict criteria to ensure that it is safe for him to return to play. Doctors have indicated that his situation is very unlikely to occur again. We are thankful that this was identified and medicated quickly, which helps with the recovery.” Lillard, 34, last played on March 18 at the Golden State Warriors before sitting out the Bucks’ last three games with what was described as a calf injury. Lillard is averaging 24.9 points, 7.1 assists, 4.7 rebounds and 1.2 steals per game in 58 games (all starts) in his second season with Milwaukee. He has career averages of 25.1 points, 6.7 assists and 4.3 rebounds per game in 900 games with the Portland Trail Blazers (2012-23) and Bucks. Advertisement The Bucks (40-31) have 11 games remaining in the regular season. They currently hold fifth place in the Eastern Conference standings and are down a pair of big men in Jericho Sims (thumb) and Bobby Portis Jr (suspension). Injured Milwaukee Bucks guard Damian Lillard last played in an NBA game on March 18, 2025, against Golden State Warriors in San Francisco, US [File: Godofredo A Vasquez/AP] Adblock test (Why?)

US vice president’s visit to Greenland ‘unacceptable pressure’: Danish PM

US vice president’s visit to Greenland ‘unacceptable pressure’: Danish PM

JD Vance’s visit to Greenland comes amid US President Trump saying he wants to take over the Arctic territory. Denmark’s Prime Minister Mette Frederiksen has accused the United States of exerting “unacceptable pressure” on Greenland in advance of a provocative high-level visit to the Arctic territory led by US Vice President JD Vance. Vance, who has become the attack dog of US President Donald Trump’s foreign policy, will travel with his wife, Usha, and other senior officials to the US’s Pituffik Space Base in Greenland on Friday, “to receive a briefing on Arctic security issues and meet with US servicemembers”, his office said in a statement. “I have to say that it is unacceptable pressure being placed on Greenland and Denmark in this situation. And it is pressure that we will resist,” Frederiksen told Danish broadcasters DR and TV2 on Tuesday. “This is clearly not a visit that is about what Greenland needs or wants,” Frederiksen said of Washington’s focus on the Danish autonomous overseas territory. “President Trump is serious. He wants Greenland. Therefore, [this visit] cannot be seen independently of anything else,” she said. Advertisement Greenland’s acting head of government, Mute Egede, has labelled the uninvited visit by US officials a “provocation”, as it coincided with government coalition talks in the territory and municipal elections scheduled for the following week. The outgoing Greenlandic government posted on Facebook that it had not “extended any invitations for any visits, neither private nor official”. “The present government is a caretaker government awaiting the formation of a new government coalition and we have kindly requested all countries to respect this process,” it wrote. pic.twitter.com/wP2TNFfzEN — Greenland in USA&CDA🇬🇱 (@GreenlandRepDC) March 24, 2025 Since returning to power in January, Trump has insisted he wants to take over Greenland for national security purposes, refusing to rule out the use of military force to do so. “We’re going to check out how things are going there,” Vance said of his Greenland visit in a video shared on social media on Tuesday. “Speaking for President Trump, we want to reinvigorate the security of the people of Greenland because we think it’s important to protecting the security of the entire world,” he said. Along with Vance and his wife, the visit to the US military base in Greenland will include White House National Security Adviser Mike Waltz and US Secretary of Energy Chris Wright. By visiting the base, Vance has removed some of the risk of violating potential diplomatic taboos by sending a delegation to another country without an official invite. Vance has already alienated some of the US’s longstanding European allies, publicly accusing them of relying on US military support and being unwilling to devote their own resources to international security. Advertisement Denmark and other European countries have also bristled at Trump’s suggestion that the US should take over Greenland – a mineral-rich territory and nautical gateway to the Arctic and North Atlantic approaches to North America. Greenland has broader strategic value for the US as both China and Russia are also seeking access to its waterways and the nearby natural resources in the Arctic. “This is a charm offensive without the charm,” Noa Redington, an analyst and former adviser to previous Danish Prime Minister Helle Thorning-Schmidt, told the Reuters news agency. “And everyone is upset because it’s so obvious that this is about intimidating the Greenlandic people and provoking Denmark,” he said. Adblock test (Why?)

Yuki Tsunoda to replace Liam Lawson at F1 Red Bull team: Reports

Yuki Tsunoda to replace Liam Lawson at F1 Red Bull team: Reports

Yuki Tsunoda will be elevated to the Red Bull team to partner Max Verstappen at the upcoming Japanese GP, according to Dutch media reports. Speculation about Liam Lawson’s Red Bull future picked up speed with media reports suggesting the Formula One team had decided to replace the New Zealander with Japanese driver Yuki Tsunoda. Dutch newspapers De Telegraaf and De Limburger reported on Tuesday that Honda-backed Tsunoda would swap seats with Lawson as Max Verstappen’s teammate from next week’s Japanese Grand Prix after a Red Bull meeting in Dubai. They said an official announcement was expected later in the week. There was no immediate comment from Red Bull. The New Zealand Herald newspaper said Lawson’s representatives were “unaware if what’s been reported has been finalised by Red Bull”. Lawson was promoted from Racing Bulls, Red Bull’s 2025 feeder F1 team, to replace Mexican Sergio Perez alongside four-time world champion Verstappen this season but has struggled in his first two race weekends in Australia and China. The 23-year-old Kiwi was at Red Bull’s 2024 F1 feeder team – Visa Cash App RB – with Tsunoda for six races last season, after being drafted in as a replacement for Australia’s Daniel Ricciardo, and was then preferred for the Red Bull seat. Advertisement While Verstappen is second in the 2025 driver standings, eight points behind McLaren’s Lando Norris after a second and fourth place as well as a sprint third in China, Lawson has yet to score a point. Tsunoda, meanwhile, has made a strong start and scored three points when he finished sixth in the Shanghai sprint last Saturday. Red Bull team boss Christian Horner said after the Chinese Grand Prix that Lawson was struggling but the team would support him as best they could. Red Bull have a history of swapping out Verstappen’s teammates, with the Dutch driver the clear number one at a British-based team that lost the constructors’ title to McLaren last year. Verstappen has acknowledged the current car is difficult to drive, with Lawson saying in Shanghai that he was struggling to get performance out of it. Dutch media reports claim Yuki Tsunoda, left, will replace Liam Lawson, right, before the next F1 Grand Prix in Japan, beginning April 4 [File: Mark Thompson/Getty Images] Adblock test (Why?)

Why are users of 23andMe being urged to delete their data?

Why are users of 23andMe being urged to delete their data?

Users of 23andMe, a direct-to-consumer genetic testing site, are being urged to delete their personal data from the website following the company’s bankruptcy filing in the United States on March 23. Here’s why it matters. What happened to 23andMe? If 23andMe’s bankruptcy goes through, it will soon be up for sale after years of financial troubles. Since its founding in 2006, the company has amassed the genetic information of about 15 million users – a dataset that is now potentially up for sale to the highest bidder. 23andMe offered services related to family ancestry and genetic traits, gradually expanding into tests for genetic predispositions to cancer and other diseases. More recently, the company sought to pivot into drug research. In 2021, the company went public with a $3.5bn valuation, partly to raise funds for this new direction. However, tough economic conditions and declining sales left the company financially unstable. In October, it laid off 40 percent of its workforce and now faces delisting from the NASDAQ after its stock price fell below $1 this week. A US user of 23andMe looks at test results revealing that she carries two APOE4 gene variants, indicating an increased risk of Alzheimer’s disease, on March 21, 2023 [Brian Snyder/Reuters] What are the current risks to users? In an open letter to its customers, 23andMe insisted that the bankruptcy “does not change how we store, manage, or protect customer data”, adding that any potential buyer would be “required to comply with applicable law with respect to the treatment of customer data”. Advertisement Despite this promise, the attorneys general of New York and California have urged residents to log onto the site and delete their data. Arthur Caplan, the head of the Division of Medical Ethics at the NYU Grossman School of Medicine, expressed scepticism about 23andMe’s promises. “If 23andMe really goes bankrupt and someone buys its assets, then what’s going to happen is their promises of confidentiality go out the window. The buyer isn’t bound to follow what 23andMe said,” Caplan told Al Jazeera. “They can share data, and given the fact that DNA analysis is even better now than it was 10 years ago when all this collection started, they might be able to identify people.” Is 23andME data protected by US law? Unlike the European Union, the US lacks a comprehensive federal data privacy law. Instead, data protection relies on a patchwork of state laws and industry-specific regulations. Like other DNA home-testing companies, 23andMe is not covered by the main piece of legislation governing the privacy of health records, the US Health Insurance Portability and Accountability Act – better known as HIPAA – because it is not classified as a medical company. Data from companies like 23andMe can also be obtained by law enforcement under a warrant or subpoena. In one of the most high-profile cases involving a home-testing service and the authorities, California investigators in 2017 used an unnamed genealogy website to identify Joseph James DeAngelo as the “Golden State Killer,” a prolific serial murderer who was active between the mid-1970s and mid-1980s. Melanie Barbeaux holds a photo of the victims of the Golden State Killer at the arraignment of Joseph James DeAngelo in California on April 27, 2018 [Sacramento Bee/Randy Pench via Reuters] Why Is 23andMe controversial? Even before its bankruptcy, 23andMe faced criticism for its data security practices. Advertisement In 2023, hackers broke into the company’s systems and accessed the information of nearly 7 million users. The company was later forced to pay $30m in a class action lawsuit over the breach. The company’s scientific claims have also been questioned. Caplan said 23andMe’s claim that it can reveal meaningful information about ethnic heritage is misleading because DNA can only provide a limited window into someone’s ancestry. “It didn’t make sense to me that you could find out your ancestry from a genetic test because much of the information needed, including where your ancestors were living and what groups they were mingling with 200 years ago, we just don’t know,” Caplan said. “Genes do not sort out by cultural categories like Lithuanian or Panamanian. There’s no Costa Rican gene.” “I always thought the company was collecting the DNA because it wanted to sell it for research,” Caplan added. “The whole idea of ancestry testing and finding out about your past was almost a bait and switch: ‘We’ll give you this cool information if you give us your DNA.’” This March 2019 image shows part of the health advice option in a 23andMe genetic test [AP] Who might buy 23andMe? As part of its bankruptcy proceedings, 23andMe has announced a 45-day bidding period for its assets. Former CEO and co-founder Anne Wojcicki has resigned from her position to submit her own bid for the company. “We’ve had many successes, but I equally take accountability for the challenges we face today,” Wojcicki said in a post on X on Monday. Advertisement “There is no doubt that the challenges faced by 23andMe through an evolving business model have been real, but my belief in the company and its future is unwavering.” Since last year, Wojcicki has submitted several offers to a special committee of independent directors to take the company private, but those were rejected over share-price concerns. How can users delete their data? If you’re concerned about your data, here’s how you can delete it: Log into your 23andMe account Go to “Settings” Select “23andMe Data” Click “View” Scroll to the option “Delete Data”. Click on “Permanently Delete Data”. Approve the request. Adblock test (Why?)