Here are the headlines from Cheddar News that are Good 2 Know.
NOSTALGIA SELLS
Nostalgia is a top seller among Gen Z shoppers, according to a report from the Washington Post. The outlet cited research from buy now, pay later firm Klarna showing that "vintage tech" sales are rising, with sales of wired headphones up 300 percent in February 2022 compared with the year before, and flip phone sales were up more than 80 percent in August. Other products to cash in on the nostalgia craze included McDonald's, which started offering adult Happy Meals, and candy maker Just Born Quality Confections, which doubled down on its Easter favorite Peeps. Movie studios also continue to capitalize on the trend with a line-up of TV and movie reboots.
DOLLAR STORE GROCERIES
Research from Coresight found that more than 20 percent of consumers are now purchasing groceries at dollar stores such as Dollar Tree and Dollar General. This follows another report from the American Journal of Public Health finding that dollar stores are the fastest-growing food retailers in the U.S. As a result, major chains are in the middle of a massive expansion. Dollar General, for instance, is building 1,050 new stores and remodeling 2,000 others in 2023.
Israel pounded the Gaza Strip with airstrikes on Thursday, including in the south where Palestinians were told to take refuge, and the country's defense minister told ground troops to “be ready” to invade, though he didn’t say when.
Addressing the nation from the Oval Office, President Joe Biden has made his case for major U.S. backing of Ukraine and Israel in a time of war.
Federal Reserve Chair Jerome Powell said Thursday that inflation remains too high and that bringing it down to the Fed's target level will likely require a slower-growing economy and job market.
According to a new survey from the Federal Reserve, income inequality grew during the pandemic.
Cheddar News checks in with your coast-to-coast weather forecast for Thursday, Oct. 19, 2023.
The suspect accused of orchestrating the killing of iconic rapper Tupac Shakur will be arraigned Thursday on a murder charge. Duane Davis is expected to plead not guilty to murder with the use of a deadly weapon.
Authorities say a U.S. marine was killed Wednesday night in an incident at Camp Lejeune in Jacksonville, North Carolina.
A Russian-American journalist working for a U.S. government-funded media company has been detained in Russia and charged with failing to register as a “foreign agent,” her employer said Thursday.
Lawyer Sidney Powell pleaded guilty to reduced charges Thursday over efforts to overturn Donald Trump’s loss in the 2020 election in Georgia, becoming the second defendant in the sprawling case to reach a deal with prosecutors.
Actor Burt Young, best known for playing the brother-in-law of Rocky Balboa in the 'Rocky' movie series, passed away at the age of 83.
