Consumer spending up in September: Spending at US retailers climbed 0.4% in September from the prior month, according to new government data released Thursday. That was much stronger than August’s 0.1% gain and was in line with what economists projected in a FactSet poll. Separate data from the Labor Department showed that new applications for unemployment benefits fell by 19,000 last week, the steepest weekly decline since June 2023. Retail sales were up across most categories last month, rising the most at specialty stores (+4%), clothing stores (+1.5%) and at health and personal care shops (+1.1%). Sales at bars and restaurants rose 1% last month.
Biden forgives more student loans: The Biden-Harris administration has announced another round of student loan forgiveness Thursday, bringing the total amount of student loan cancellation to more than $175 billion for nearly 5 million people since President Joe Biden took office. More than 1 million of these student loan borrowers received debt relief through the Public Service Loan Forgiveness program, which promises loan forgiveness to public-sector workers after they’ve made 10 years of qualifying payments. Biden’s Department of Education made it easier for borrowers to qualify for PSLF. Thursday’s announcement affects about 60,000 borrowers who are now approved for approximately $4.5 billion in student debt relief under PSLF.
US attacks Houthis: The US carried out a round of strikes in Yemen against the Iran-backed Houthis on Wednesday evening, according to Defense Secretary Lloyd Austin, targeting five underground weapons storage facilities using B-2 stealth bombers. The facilities housed advanced conventional weapons used to target military and civilian vessels in the Red Sea and the Gulf of Aden, three US defense officials told CNN following the attack. It marked the first time the US has used the strategic stealth bomber to attack the Houthis in Yemen since the beginning of the US campaign. The night-time airstrikes hit Yemen’s capital city of Sanaa and the city of Saada early on Thursday local time, Houthi-run Al Masirah TV reported, according to Reuters. Austin said he authorized the strikes at the direction of President Joe Biden in order to “further degrade” the Houthis’ abilities after more than a year of attacks by the militant group on US and international vessels in the region.
Death toll rises in Nigeria: The death toll from a fuel tanker explosion in northern Nigeria has risen to at least 153, with another 100 people injured, police told CNN Thursday. The blast, which happened late evening local time on Tuesday in Majiya, a village in Jigawa state, came after the vehicle crashed and while locals were attempting to retrieve the fuel. A mass burial was held on Wednesday afternoon for some of the victims, Adam said. Nigeria’s Vice President Kashim Shettima mourned the victims in a statement Wednesday, saying: “My heart aches for those who have had their families torn apart by this disaster. The blast comes a month after at least 48 people were killed in a similar accident in the north-central Niger state.
