GOOD DAY FOR: A European vacation, after the British pound weakened to a five-year low against the U.S. dollar, trading at $1.64 to the pound Tuesday. The euro also fell to its lowest level since February 2007. The currency moves were driven by expectations that European central banks will cut interest rates. “The U.S. is regarded as being able to weather a recession much better than the euro zone,” said Commerzbank strategists. (MarketWatch)
BAD DAY FOR: Driving down Rodeo, as the heart of Beverly Hills’ luxury shopping district is holding up well, with wealthy locals and shop-happy foreign tourists spending like there’s no recession. Nationally, consumer purchases dropped 1.2 percent in September. “When you’re in Los Angeles, you come to Rodeo Drive as part of the whole Beverly Hills shopping experience,” said Australian tourist Jason Finlayson. (Bloomberg)
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
The vast horizons of the Puna de AtacamaThe Week Recommends The ‘dramatic and surreal’ landscape features volcanoes, fumaroles and salt flats
-
Asylum hotels: everything you need to knowThe Explainer Using hotels to house asylum seekers has proved extremely unpopular. Why, and what can the government do about it?
-
Sudoku medium: November 16, 2025The daily medium sudoku puzzle from The Week
