USA’s favorite app Temu makes its big game debut in rookie year

Temu, an e-commerce platform specializing in affordable quality products, made a bold statement in its first year of operation by running an advertisement during the Big Game. This achievement makes Temu one of the youngest companies to advertise at this high-profile event, a testament to the company’s rapid growth.

Founded in September 2022, Temu has quickly established itself as the go-to destination for the best value and quality products among budget-conscious shoppers. Its mobile app quickly climbed the app rankings, surprising industry insiders. The Temu app has been the most downloaded app in major US app stores since late last year, earning it the informal title of “America’s Favorite App”.

Now in the middle of his rookie season, Temu has again rewritten the playbook, sharing the biggest advertising platform with household names like General Motors, Pepsi and Heineken.

Temu’s 30-second commercial is titled “Shop Like A Billionaire” and follows the adventure of a protagonist as she experiences the joys of shopping on the Temu app. Her face lights up when she realizes that the shopping possibilities are endless at such low prices. From the latest trends to tools, headphones and more, Temu has something for everyone. “I feel so rich,” plays the cheerful jingle, “I feel like a billionaire.”

As the spot ends, excited shoppers fill the streets, dancing and celebrating Temu’s arrival. Created by Saatchi & Saatchi and directed by Robert Jitzmark, the spot premiered in the first quarter, followed by a third quarter appearance and two post-game airings.

Temu’s pursuit of maximizing value for consumers

“We are very excited to be part of the Big Game 2023 franchise and to share Temu’s mission of quality at affordable prices,” a Temu spokesperson said. “Using the biggest stage possible, we want to provide more consumers with the exciting shopping experience of the best products at the best prices on Temu.”

Temu’s decision to spend millions on the Big Game spot — Ad Age reports a 30-second spot costs $7 million — could pay off if the presence increases brand recall among consumers, analysts say of the sector. Temu is backed by PDD Holdings Inc., a Nasdaq-listed multinational business group that also owns social commerce platform Pinduoduo. PDD Holdings has a market cap of more than $100 billion and revenue of $17 billion for the 12 months ending September, up $5.2 billion.

Temu attributed the lightning speed at which it grew its multi-category marketplace to the support of parent company PDD Holdings, which has amassed more than 11 million vendors and serves more than 900 million customers globally through its stores. Temu’s e-commerce platform offers 29 main product categories, including clothing, beauty products, kitchenware and home improvement tools, all from independent third-party retailers.

Timing also explains Temu’s popularity with consumers. Its launch in September 2022 coincided with soaring inflation, allowing it to capture the zeitgeist of post-pandemic spending. Consumers, hit by the end of pandemic-era relief programs, rising costs of living and uncertain job prospects, were poised to get more value from their paychecks.

Temu offers great prices on coveted products

“With our fears of inflation and tighter budgets, now is probably a good time in America to launch a service that offers seemingly endless discounts, free shipping, and a majority of items under $10,” wrote Kirk Miller, editor at InsideHook.

Miller described shopping on Temu as “the equivalent of a hundred neon signs offering discounts” and that the prices are “ridiculously low” for “the products you actually want to buy”.

Temu has received positive reviews from its customers, who are amazed at the savings on purchases that they can spend on something else. A review by Tim R. on Sitejabber, the review site, said, “I used to shop on the most popular sites, but they were really expensive and I didn’t need to buy the article or I exhausted my savings.”

“So glad a friend of mine recommended Temu because she said she shopped there online to save money,” the review read. “There is no turning back, once you tried Temu you seriously changed my life.”

McClatchy Newsroom and its editors were not involved in the creation of this content.


#USAs #favorite #app #Temu #big #game #debut #rookie #year

Here are the best ways Canadians can get a bigger tax refund this year

Tax season is upon us.

If you’re dreading filing your taxes this year, the motivation you might need is the possibility of getting a bigger tax refund.

With inflation and the skyrocketing cost of living, this extra money is needed by the government more than ever.

So how do you increase your tax refund? By lowering your taxable income and reducing as much as possible the tax debt you owe to the government.

That’s where tax deductions and credits come in. With so many choices, navigating what to focus on can seem overwhelming.

Do not worry! Daily Hive spoke with financial planner and paid accountant Ed Rempel about the best ways to maximize your tax return.

First, what information should you have on hand before filing your taxes?

Before deciding which tax deductions and credits you want to claim, Rempel says you need to make sure you have the proper receipts.

Of course, you’ll need the usual T4 and T5 tax returns for your income, but the savings come from deductions and credits that likely won’t come with supporting documentation.

“It’s beneficial for you to collect all deductible expenses and have receipts or receipts for them,” says Rempel. “They should have receipts for donations and medical care, but need to track certain expenses like work-from-home expenses.”

He adds that it’s also helpful to keep track of your carried forward balances or deductions and credits from your last tax return that you haven’t claimed.

“A good number can be claimed in the years to come,” he explained.

Tax credit vs tax deduction

Before we dive into the different types, it helps to understand the difference between a tax credit and a deduction.

Simply put, deductions reduce the taxable portion of your income, while credits reduce taxes owed.

Which guarantees you a bigger tax refund, says Rempel, if your income is over $50,000 a year, tax deductions are your best friend.

“The main difference is that tax deductions reduce your taxes based on your tax bracket, while tax credits reduce your taxes based on the lowest tax bracket, which is around 20% “, he explained.

He gives the example of a person with an annual income of $80,000 who would be in the 30% tax bracket.

“A $10,000 tax deduction lowers your tax by $3,000, while a $10,000 tax credit lowers your tax by $2,000,” he said.

He adds that many state benefits are based on your taxable income. So if you apply for the Canada Child Benefit (CCB) as a parent, you can get a larger refund if you have tax deductions.

The best deductions and credits to maximize your tax return

Contribute to your RRSP

“The higher the income, the better it works,” Rempel said.

For example, if your income is over $162,000, your maximum deposit for 2022 is $29,210. Since you are in the 45% tax bracket, you should get a tax refund of $13,000.

If you’re not sure how much to contribute to your RRSP to get the most bang for your buck, Rempel says it’s based on:

  • RRSP contribution required to reach your retirement goal
  • Contributions required to maximize your life RRSP space
  • How much you can contribute to your current marginal tax bracket
  • Your current RRSP contribution limit (which you can find here)
  • Your available money (or how much you could borrow)

Use this RRSP calculator to estimate the amount of your tax refund.

claim moving expenses

If you got a new job last year and had to move at least 40 km closer to your new place of work, you can deduct all your moving expenses.

Yes, this means you can claim the costs of flights, moving, selling your property, breaking a lease or mortgage and temporary accommodation, which can add up to a lot.

Claim self-employment or homework expenses

If you own your own business and work from home, you can deduct expenses related to working from home. You can also claim car travel expenses, but be sure to keep this information.

If you are not self-employed but still work from home, you can still claim these costs. Last year, eligible employees received up to $500 if they worked from home for 250 days or less.

There are no updates on this franchise this year.

ask for donations

If you donated to many causes this year, you might get some good karma. Rempel says that after the first $200, you can recoup between 40% and 50% of donations each year.

Apply for childcare costs and family allowances

You can deduct child care expenses such as daycare, summer camps, and child care providers such as nannies as a deductible.

As Rempel said, government benefits like CCB are based on your taxable income, so claiming a child care expense deduction could help you get a bigger refund.

claim medical expenses

Don’t throw away your bills and prescriptions for dental exams, no need to buy gluten-free products if you have celiac disease, and insulin pens! Medical expenses like these can be claimed as non-refundable tax credits.

Subtract the interest on the loan to invest

“Borrowing money for investments can be the best long-term wealth-building strategy for the right people if done correctly,” Rempel said.

If you borrow a large sum of money to make investments, the interest can essentially be deductible and earn you a huge refund.

balance brought forward

Didn’t you claim tax deductions or credits from tax year 2021? no perspiration

Rempel says many of them can still be claimed years later.

As an example, he cites RRSP contributions that you were unable to deduct last year. You can factor this into your tax deductions this year for a larger refund.

For college students, Rempel says tuition is capped based on income, so you may have unused credit to claim.

If you are self-employed, you can deduct the cost of working from home based solely on your use of the space to generate business income.

However, Rempel says you can defer this to claim next year’s business income deduction.

Charitable donations are capped at 75% of your income, but can be deferred for up to five years, depending on the financial advisor.

Finally, moving expenses can only be deducted based on your income for that year, but if you started later in the year and didn’t earn enough, you can claim them back. Next year.


#ways #Canadians #bigger #tax #refund #year

SocGen missed its own promise to pay CEO Oudea last year

(Bloomberg) – Societe Generale SA failed to deliver on its promise to return half of its operating profit to shareholders, even after its fixed-income brokers presented CEO Frederic Oudea with a bigger-than-expected profit.

Most read by Bloomberg

Revenue from the purchase and sale of fixed income and currencies rose 56% in the fourth quarter, beating analysts’ estimates and all previous major rivals. This and a strong performance in Financing and Advisory compensated for the weak performance in Equities and Retail France.

But after the Paris-based company suffered a multibillion-euro blow when it exited Russia last year, it decided to keep more of the profits to bolster capital and about 1.8 billion euros through dividends and buybacks. This represents around a third of the underlying profit.

The decision comes at a time when rivals are trying to reward investors as they emerge from years of negative interest rates and below-average profitability. BNP Paribas SA said on Tuesday it would repay 5 billion euros through buybacks as it spends excess cash from the sale of its US unit. It caps another tumultuous year for Oudéa, which put the finishing touches on its legacy before handing over to investment bank boss Slawomir Krupa in May.

The year “marked a pivotal period for the group” as it adapted to “an uncertain and complex environment”, Oudéa said in a statement. SocGen, he said, “is moving decisively into 2023, a year of transition in many ways.”

SocGen announced the results before the start of regular trading in Paris. Shares have underperformed BNP and an index of European banks over the past 12 months.

Revenue from fixed income trading, traditionally a smaller business for the firm than equities, was up 56% year-over-year. That’s better than the average 28% gain for Wall Street’s biggest firms and the 45% rise for BNP. Equities lagged slightly, down 12%.

SocGen’s finance and advisory unit has weathered the slump in business execution that has plagued many of its peers. The business, which includes transaction banking, saw its revenue increase by 17%.

The lender has proposed a cash dividend of €1.70 per share to be paid out of last year’s profits, as well as a €440 million share buyback. If it had paid out half of its underlying annual profit of 5.62 billion euros, that would have been more than its reported net profit.

Such a move could have been difficult to explain to regulators at the European Central Bank, who have urged banks to exercise caution when deciding shareholder payouts given the many risks to the economy. SocGen provided 413 million euros in loans in the fourth quarter, less than analysts had expected but still nearly five times the amount a year ago.

A company spokesman said the payout decision reflected a desire to balance shareholder rewards and balance sheet strength. A key capital metric, called the CET1 ratio, came in at 13.3%, higher than analysts had expected, assuming full implementation of tougher regulatory standards. SocGen plans to return to its regular payment policy in the coming years, the person added.

Chairman Lorenzo Bini Smaghi, who oversees the executive board that decides on payment proposals, has been among the most vocal critics of the ECB’s de facto dividend ban during the Covid-19 pandemic. Led by the former ECB politician, the board even proposed a payment in 2021 after the lender suffered its first loss-making year in decades. In October, he wrote to the central bank protesting officials’ requests to attend bank board meetings, Bloomberg reported.

Oudea, the longest-serving CEO of a major European Union lender, restructured its equity business after pandemic-related losses, allowing the company to rebound with record profits the following year. Russia’s invasion of Ukraine last year brought another challenge, prompting a withdrawal from the country that resulted in a €3.3 billion loss in pre-tax profits.

To strengthen the bank, Oudéa merged the French distribution networks. But local laws that limit lenders’ ability to raise mortgage rates have made it difficult for French lenders to take advantage of higher interest rates as quickly as their competitors in other countries. Domestic retail sales were down slightly year-over-year, with SocGen forecasting further declines this year.

(Adds context to previous dividend decisions in the last three paragraphs.)

Most Read by Bloomberg Businessweek

©2023 Bloomberg LP


#SocGen #missed #promise #pay #CEO #Oudea #year

A third of households say they are financially worse off than last year (survey)

OTTAWA — A third of Canadian households say their financial situation has deteriorated over the past year, with lower-income families more likely to say they are worse off, according to a new survey.

According to a Leger survey commissioned by the Association for Canadian Studies, 34% of Canadian households say they are in worse financial health than last year.

The majority of respondents, 58%, said their financial situation was about the same as a year ago.

Nine percent said their financial situation had improved.

Jack Jedwab, president of the Association for Canadian Studies, said the survey’s most striking finding was the unequal challenges Canadians have faced over the past year, with low-income people the most affected.

Among Canadian households earning less than $40,000, 42% said their financial situation had deteriorated. This compares to 25% of households earning $100,000 or more.

“People…in lower income brackets are finding the crisis particularly difficult in terms of the impact of inflation and higher interest rates and so on,” Jedwab said.

High inflation and rising interest rates have put pressure on Canadian finances over the past year. In an effort to rein in rising prices, the Bank of Canada has aggressively raised interest rates eight times in a row since March of last year.

Economists say low-income households are particularly vulnerable to inflation because they save less and have less flexibility in the face of high inflation. This means that higher prices put more pressure on their budgets.

Meanwhile, high-income earners are saving more and weathering the storm more easily.

The survey also found that Quebecers were the least likely to say their financial situation had gotten worse, while respondents from British Columbia were the most likely to say it was getting worse.

Among Quebecers, 22% said they were worse off. In British Columbia, the figure is almost twice as high, with 43% saying their financial situation has deteriorated.

Jedwab said the variety of responses across the country could be related to the housing market and differences in house prices.

Renters were also more likely than owners to report that their financial situation had deteriorated.

The online survey was completed by 1,554 Canadians between January 23-25 ​​and cannot be subject to a margin of error, as online surveys are not considered true random samples.

This report from The Canadian Press was first published on February 7, 2023.

Nojoud Al Mallees, The Canadian Press


#households #financially #worse #year #survey

Cleanup of industrial waste on Lynemouth beach is due to start this year

£5million cleanup work to rid a beach of ‘historic pollution’ – including mining pipes, cables and machinery – will start later this year.

The objects were discovered when waves washed away parts of the Lynemouth cliffs onto a former mine dump.

Northumberland County Council provided the money to help prevent landfills from being washed into the sea.

In 2020, the agency said tests on beach samples showed some litter could be harmful to humans.

Planning and regulatory approvals have also been obtained to move the project forward.

It was hoped the cleanup would be completed sooner, but the agency said weather and environmental conditions affected the start date.

The council said preparatory work on the beach would start in the autumn, with main work starting next year.

Contaminated areas of the beach will be excavated and removed before the dunes are reformed with a mixture of soil and sand.

John Riddle, Cabinet Member of Northumberland Council, said: “Although we would have liked to start sooner, there were many factors beyond our control.

“The new timetable also allows us to finalize the details and funding arrangements with the Coal Authority for the work required on their lands north of Lyneburn so that we can do this as a single ‘integrated’ scheme to ensure best value. and deliver the best delivery of results for the local environment and communities in this part of Northumberland.

Prior to the start of work, Council crews will continue to remove material from the beach found during weekly inspections.

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#Cleanup #industrial #waste #Lynemouth #beach #due #start #year

Cracker Barrel is offering free food for a year to couples who propose at the restaurant on Valentine’s Day

Cracker Barrel has long been a staple for travelers looking for a comforting meal. Now it might be the setting for the most romantic day of the year. Photo by: Don & Melinda Crawford/Education Images/Universal Images Group via Getty Images

  • Cracker Barrel offers free food to anyone willing to “pop the question” at one of its locations.
  • The proposal must be between February 10 and 16 and uploaded to Instagram to participate.
  • Five winning couples will receive free Cracker Barrels for one year.

During Valentine’s Day, couples have a chance to win a free Cracker Barrel for a year by proposing at the restaurant.

The home-style restaurant, according to its website, is rewarding five couples with the free dining offer if they “ask” at any Cracker Barrel store from Feb. 10-16.

To enter, contestants must post a video of their proposal to Instagram, tag the official Cracker Barrel account, and use the hashtags #ISaidYesAtCrackerBarrel and #Contest, along with “why they decided to propose at the iconic restaurant.” .

The five winning couples will receive free Cracker Barrels for a year, but it’s unclear if the offer is redeemable at each location.

Whoever picks the winners has to bow to the crooks looking for free fodder. In 2017, two friends in the UK went viral on Twitter for faking a free dessert suggestion at a restaurant.

For those not yet ready to commit, the restaurant offers a slightly less lucrative offer. Couples dining at Cracker Barrel from Feb. 10-14 can enjoy a free dessert with select appetizers, according to the website.

Read the original article on Business Insider


#Cracker #Barrel #offering #free #food #year #couples #propose #restaurant #Valentines #Day

I made $630,000 in 2 years as a 55 year old OnlyFans model. It means I can give my son a better life and save for his college funds.

Elaina St James created her OnlyFans account in the spring of 2021. Courtesy of Elaina St James

  • Elaina St James is a 55-year-old OnlyFans model. She quit her job to create content full-time.

  • She has earned around $630,000 from the subscription site in less than two years.

  • St. James says she is happier and able to give her son a better life.

Just two months after creating her OnlyFans account, Elaina St James quit her job and became a full-time content creator.

And less than two years later, the 55-year-old mom has already earned an estimated $630,000 in less than two years from the membership site. The insider saw documents supporting their earnings.

St. James says she is happier since quitting her job and can provide a better life for her son. (Elaina St James is a stage name she uses. Insider has agreed to use this name to protect her privacy.)

In his thirties, St. James worked in consumer goods sales. After having a baby at the age of 42, she decided to leave her career behind, working instead in car sales, then in an office.

Before I started at OnlyFans, “I wasn’t good at social media,” she said.

But during the pandemic, she read an article about another mom creating OnlyFans content. St. James said she was immediately interested.

Elaina St James OnlyFans subscribers pay $9.99 per month. Courtesy of Elaina St James

After a month of research, she decided to bite the bullet. St. James created his accounts on Instagram and OnlyFans on April 1, 2021.

For the first two weeks, she posted photos and videos without her face, but as soon as she showed her face, her accounts “started to explode,” she said.

By the end of April, she had 10,000 Instagram followers and nearly $2,000 in OnlyFans earnings. In her second month, she made around $5,400 and in her third, she grew to almost $11,000. In her fourth month – July 2021 – she earned around $22,000. Her income skyrocketed towards the end of 2022 when she earned nearly $100,000 in November and December. Insiders saw screenshots confirming their earnings.

Their subscribers pay $9.99 per month, with OnlyFans receiving 20% ​​of their earnings. From their account creation to January 2023, the two St. James accounts have earned nearly $800,000 from subscriptions, or about $630,000 after OnlyFans fees. She also earns money through Fansly, a platform just like Fans.

St. James said she quit her job two months after starting OnlyFans when she realized she could make more money putting those hours into modeling.

St. James said she typically posts one or two adult images to her OnlyFans each day, though she uploaded more at first. In total, she has more than 1,300 photos on her account. On Fridays, she posts pre-recorded 10-minute “chat and flash” sessions where she talks while taking off her shirt.

St. James said she thinks her niche is a “mature dominatrix” and seeks to create a “powerful, sleek and stylish” online persona. But she realized that was not why her subscribers came to see her. Instead, they preferred that she just be herself: a “healthy, fun, positive, smiling, and slightly eccentric Midwestern mom,” she said.

“I don’t have the perfect body. I have a belly. I have cellulite,” she told Insider.

Some young designers have called her an “inspiration,” St. James said. “It makes me feel so much better,” she told Insider.

“I don’t have the perfect body,” Elaina St James told Insider. Courtesy of Elaina St James

St. James said her primary followers are younger men in their 20s and 30s who have an “older woman fantasy” that they can only live out online. But not all of her followers are young – one of her biggest supporters is a 79-year-old widower, she said.

St. James — who has five Instagram accounts — posted a role in which she wore pink floral satin panties that she said cost $8 from Amazon. The coil exploded. 26 million views have been achieved to date.

Despite the success of her posts, St. James derives very little of her income from Instagram. Instead, she said she uses the platform — along with Twitter, TikTok, Facebook and Reddit — as marketing platforms to drive people to their OnlyFans.

As of February 2023, she has 3,400 OnlyFans subscribers. She said her peak was around 5,500.

St. James said she has a “very close bond” with her teenage son. “He knows I’m a nude model,” she said, adding that he’s “definitely” seen her posts on Instagram and TikTok. He rolls his eyes and calls her crumbly, she says.

St. James’s career with OnlyFans has made her happy, allowing her to pay for a car, life insurance, vacations, as well as start a college fund for her son and save for retirement. “I couldn’t have afforded it without OnlyFans,” she said.

But it made her love life much more difficult, she said. “I try to stay low.”

“I can’t do this forever,” St. James said of his OnlyFans career. She said she had been contacted by porn companies but was not interested in this career path.

“I would like to retire at 65,” she told Insider. “I don’t know what the future holds for me, but I would like to move on to the motivational speech because I have many chapters ahead of me in my life.”

Read the original article on Business Insider


#years #year #OnlyFans #model #means #give #son #life #save #college #funds

Cruise stocks set for ‘productive’ year as pent-up demand unfolds: analyst

James Hardiman, an analyst at Citi Leisure and Travel, examines travel demand trends related to cruise lines and their growth prospects in the leisure and travel industry.

video transcript

DAVE BRIGGS: This week we learned that President Biden intends to end the national and public health emergencies of COVID-19 on May 11. With the pandemic firmly in the rearview mirror, or awake in this case, is it time for the cruise industry to complete this slow turnaround? James Hardiman, leisure and travel analyst at Citi, said it could be a great year for the industry. Nice to see you, sir. Why do you say that?

JAMES HARDIMAN: Yeah, I mean, I think if you think about the rest of the economy, certainly the rest of the consumer space, everybody came out of the pandemic years ago, isn’t- it not? It wasn’t as easy for this crew room. And so I think there’s a good argument that there’s still some catching up to do here. There were around 50 million people who would have otherwise cruised in 2020 and 2021 and ultimately never made it.

Now some of those people have joined the team over the next year or so. But a significant portion did not. I think the other thing that helps – and we go into so-called wave season is when there’s a disproportionate number of bookings for the upcoming spring break and summer season, which have been really affected last year by the start of the Russian-Ukrainian conflict, then by the break-up of Omicron. This year’s wave season has started much better by all reports from our work. And by all appearances, it’s a good start. And I think that sets the stage for a much more productive year.

JARED BLIKRE: Let me ask you what the next step is. Now that we had withstood the pandemic, we had a set of changing habits and behaviors. I’m just wondering if the average person who doesn’t go on cruises very often, for example, may have broken in or do they rely on regular customers? Just wondering what their TAM is currently compared to the general population who may have lingering concerns about going on a cruise.

JAMES HARDIMAN: Yeah, that’s a good point. I think this is a crucial question. I guess it’s safe to say that at the start of the reopening it was mostly repeat customers, isn’t it? On top of all the fear surrounding the pandemic, few people who have never set foot on a cruise ship have been willing to add that extra fear. I think since the late 22’s and early 23’s we’ve heard about new cruisers returning to space, which I think is a crucial part.

You could tell, based on my previous comment, 50 million people who are some sort of regular cruiser, that you don’t necessarily need that new customer at first. But to get this industry back to where it wants to go, you need that new customer. I also think it’s worth noting that only about 15 million Americans have ever been on a cruise, right? So when you consider that TAMs are definitely most Americans, you’re only scratching the surface. And so it doesn’t take a ton of new cruisers to increase that number by 15 million quite dramatically.

SEANA SMITH: Well, James, just looking at the price of some of these stocks here year-to-date, Royal Caribbean, I know you have a buy recommendation for this. This stock has risen 38% since January 1. How much of this good news has already been integrated? And if not, what is its upside potential?

JAMES HARDIMAN: Yeah, I mean, it really depends on how you phrase it, doesn’t it? Since the beginning of the year, these stocks are in an upward trend. If you compare it to 2019, right, for an overall market up 25%, 30%, Royal Caribbean is only half of what it traded in 2019. That might not be a apples to apples comparison as they are superimposed on a lot of that. But that just goes to show that this is an industry that has been left behind by the rest of the market. And so they have a long way to go to catch up here.

DAVE BRIGGS: My guess – and maybe it’s wrong, James – that’s often the case – is that the typical cruise line is just looking around trying to get the best deal. But you have Royal Caribbean as a purchase. So what is their competitive advantage over their competitors?

JAMES HARDIMAN: Yes, I mean the price is very important. So from that point of view you are right. But in many cases not as important as some other factors, especially the route, right? And Royal Caribbean is arguably the most glocal cruise brand. And I think that helps when you’re trying to travel to distant destinations, some of the more attractive destinations.

I think they’re the best choice, and I think they’re a good combination of the breadth of their offering and their brand perception. I would probably put them first, those two factors combined. But yes, I think there are several factors. The novelty of ships, right? The equipment of the ships and certainly the voyage destinations play a major role. And RCL is certainly no weakling in this regard.

JARED BLIKRE: James, we’ll have to leave it at that, but we really appreciate your ideas here. James Hardiman.


#Cruise #stocks #set #productive #year #pentup #demand #unfolds #analyst

The average home price in Toronto has fallen by more than $200,000 in a single year

As temperatures drop to some of the lowest levels Toronto has seen in years, data released Friday suggests the city’s housing market is cooling at an equally frantic pace.

Home sales and prices fell by astonishing percentages year over year in January 2023, according to the Toronto Regional Real Estate Board (TRREB), which reported spikes across the board at this time of year. last.

In January 2022, the average sale price of a home in the Greater Toronto Area was $1,242,793, about 28.6% more than the average sale price in January 2021.

This month of January? January 2023? The average home in the GTA sold for just (lol) $1,038,668.

This equates to a price drop of 16.4% (or $204,125) in just 12 months, which would likely be good news for potential buyers if they could afford mortgages at interest rates. current Bank of Canada.

“Year-over-year, sales and prices declined significantly, further underscoring the impact of rising borrowing costs on affordability over the past year,” the latest report said. monthly statistics from the TRREB, published on Friday.

Indeed, home sales continued their steep descent in the housing market charts in January 2023, down 44.6% since January 2022, with just 5,594 properties sold in the GTA.

And yet, despite these grim numbers, some analysts still insist the market isn’t really collapsing, saying sales and prices are expected to rise through 2023.

“Home sales and sale prices appear to have found some support over the past few months. This, combined with the Bank of Canada’s announcement that rate hikes will likely be put on hold for the foreseeable future, will cause some buyers to pull out of the markets in the coming months. said TRREB Chairman Paul Baron when releasing the January 2023 market report.

“Record population growth and tight labor market conditions will continue to support housing demand going forward.”


#average #home #price #Toronto #fallen #single #year