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March retail sales jump on higher gas prices, Commerce Department says

April 21 (UPI) — Retail sales rose by 1.7% in March mostly due to high gas prices from the ongoing conflict with Iran, the Commerce Department announced Tuesday.

It was the fastest monthly change in three years, according to a release.

In February, sales rose 0.7%.

Retail sales are seasonally adjusted but not for inflation. In March inflation rose by 0.9%, which was three times the February rate, according to the latest Consumer Price Index.

The war between the United States, Israel and Iran has caused gas prices to spike. The Strait of Hormuz, a critical transportation route for oil, has been closed to most traffic throughout the fighting. It has dramatically affected the price of gas in the United States and abroad.

Gas station sales jumped in March by 15.5% from February. Without gas station sales, retail rose 0.6% in March, which was at 0.7% in February.

Some categories were stronger. Furniture and home furnishing sales were up 2.2% in March.

Electronics and building materials held up well, too.

Gary Schlossberg, global strategist at Wells Fargo Investment Institute, said in commentary to investors on Tuesday: “Pressure on household budgets is being cushioned, for now, by sizable increases in tax refunds tied to last year’s legislation.”

Consumers adjusted their spending in other areas. Apparel sales were flat, and restaurant sales rose only 0.1%.

Gas prices likely caused that, said Dan North, Allianz Trade senior economist for North America.

“Gasoline is a thing you love to hate, because you have to buy it; there’s really no substitute,” North told CNN in an interview.

Eventually, consumers will deplete savings and tax refunds, and for lower-income Americans, it could be a struggle, North said.

“If we can wind this up, so to speak, in the next few months, the damage to the consumer and economy might not be so bad,” North said. “If you start stretching it out for months and months and toward the end of the year, then consumers and the rest of the economy get in trouble.”

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USOPC ‘quite confident’ of LA28 direction amid ticket sales uproar

Fans are frustrated with LA28. City Council members are battling over billions of dollars and overdue contracts. But in front of the U.S. Olympic and Paralympic Committee board of directors, LA28 found support for the private organizing committee’s progress with a little more than two years remaining before the Games open in L.A.

Despite pushback from locals, LA28 leadership, including chief executive officer Reynold Hoover and chief executive officer responsible for revenue John Slusher, spoke to the USOPC on Wednesday about the ticket sale process, explained the superbloom-inspired look of the Games and celebrated the committee’s recent commercial success that surpassed more than $2 billion in sponsorship agreements.

“We were quite encouraged to hear from them,” USOPC chair Gene Sykes said during a conference call Wednesday after a board of directors meeting, “and quite confident in the direction of LA28 from an operational standpoint.”

The private group responsible for bringing the Games back to L.A. for the first time in four decades opened ticket sales this month after attracting a record number of interested fans. The first week of sales — reserved for locals in Southern California and Oklahoma City near competition venues — “significantly exceeded first-week sales for any previous Olympic Games,” LA28 said in a statement.

But many fans were shocked to see opening ceremony tickets topping $5,000. They complained about a shortage of options for the most in-demand sports and were surprised to see a 24% service fee. Global sales opened on April 9 and many of the problems, including website glitches and unavailable tickets, persisted.

The USOPC board discussed the fee with LA28, and recognized that it is “part of a framework that is a framework they accept,” Sykes said, “as opposed to challenging it or trying to make it something different.”

The fee is included in the listed price of the tickets, which start at $28. There will be 1 million tickets sold at $28 each, and nearly half of the Olympic tickets are under $200. More than 75% are under $400 and about 5% of tickets are more than $1,000.

“I know they’re thinking very, very seriously about how to manage the ticket activity so that it satisfies everybody,” Sykes said.

LA28 will have 14 million tickets available between the Olympics and Paralympics, which would break Paris 2024’s record of 12 million tickets sold. The current ticket drop, which is open to fans worldwide, ends April 19. LA28 expects to have a second drop this year, but has not released specific details about when.

Ticket headaches have added to a controversial run-up to the Games for LA28, which also faced backlash after chairman Casey Wasserman was mentioned in the Epstein files released in February. The LA28 executive committee backed Wasserman after a review with the assistance of outside counsel. Wasserman announced that month he would sell his talent agency but planned to continue working with LA28.

When asked Wednesday what the USOPC board believed Wasserman’s role with LA28 should be moving forward, Sykes said the organizations have had discussions and are monitoring the “impact on our community.” But it is ultimately the LA28 board’s decision to select its chair. Wasserman was appointed by former Mayor Eric Garcetti to lead the Olympic effort in 2014.

“Separate from the LA28 board … LA28’s leadership Reynold Hoover and John Slusher, but many other people among the hundreds of people who work for LA28 have continued to assemble a very strong team,” Sykes said, “and show measurable progress on all the fundamental things that they need to do to make the Games a very, very strong Games, and have a remarkable experience. We remain very confident that that progress is both evident and very solid and that [it] will involve the planning with partners, athlete engagement, public support and corporate interest, all of which remain very strong, and I think, very encouraging. The ongoing committee is executing effectively, and we’re very happy to work with them.”

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Anti-war protesters arrested in New York urging end to Israel weapon sales | US-Israel war on Iran News

Police in New York have arrested around 100 anti-war protesters who were staging a sit-in outside the offices of Senators Chuck Schumer and Kirsten Gillibrand, demanding an end to US weapons sales to Israel. The demonstration comes as Senator Bernie Sanders pushes to block more than $600m worth of bombs bound for Israel’s military.

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Newcastle: Eddie Howe’s future and summer sales – what lies ahead for Magpies?

Howe cannot afford to think that far ahead, given the games to come.

A late push for Europe would put a different complexion on a bruising domestic campaign.

But Newcastle must go on a run to do so, which they have failed to do all season.

When Anthony Elanga openly asked whether the dressing room could show they were fighting for the head coach “again, again and again”, in a previous interview with BBC Sport, the forward was alluding to his side’s inconsistency.

“We want to keep on fighting for him because he’s helped us so much,” he said.

“I’d even go as far to say he is one of the best managers I’ve worked for. I’m really grateful to have him as a manager and I try to take everything he says to me on board because I know it’s for my benefit.

“I know he will help me so much. All the players feel the same.”

Yet you never quite know what you are going to get from Howe’s team this term.

Just as Newcastle can beat Manchester United with 10 men and record a rare win at Chelsea, this leaky side can also capitulate and concede seven goals in the Nou Camp or throw away a half-time lead against Sunderland.

All in the same month.

Is there a degree of mitigation for the ups and downs of a campaign where Newcastle reached the last 16 of the Champions League and a third EFL Cup semi-final in four years, but also suffered 13 Premier League defeats?

Even as far back as the autumn, there was a belief internally there would be choppy waters to navigate following a turbulent summer.

Newcastle missed out on a host of top-choice targets, buckled and eventually sold star striker Alexander Isak to Liverpool on deadline day and tackled a crucial window without a chief executive and sporting director in place.

Also, whereas the so-called ‘big six’ are used to fighting on multiple fronts, with deeper squads, this has been relatively uncharted territory for Newcastle, who have played more games (51) than any other side in Europe’s top five leagues this season.

Such has been the relentless nature of the schedule, there has been a feeling within the camp that they “can’t breathe” at times.

But the squad will soon be lifted by the return of talisman Guimaraes, who is understood to have been “working hard every single day” after being sidelined with a hamstring issue, as well as midfielder Lewis Miley and defender Fabian Schar.

Howe will also have clear weeks to prepare for the final seven matches of the season – and a rare extended period to intensively work with record signing Nick Woltemade following the German forward’s curious recent stint in midfield.

The head coach and his staff will need no reminding they need to make that time count in what feels like a defining few months on Tyneside.

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