Latest news with #costOfLiving
The Verge
a day ago
- Business
- The Verge
The Switch 2's promising start hides an uncertain future
With the Switch 2 launch days away, analysts and consumers are watching to see how well Nintendo can follow-up the best selling home console in its history. Judging from the pain of trying to secure a Switch 2 pre-order, it seems like Nintendo has nothing to worry about – at least at launch. Down the line, however, concerns about tariffs, a steadily rising cost of living, and a saturated market might cast a shadow on the Switch 2. The Verge talked to analysts, journalists, and normal video game playing people to put the Switch 2 launch in perspective. The key takeaway? While the console will assuredly have another blockbuster debut, its future looks much less certain. The Wii U gets brought up a lot in the conversation surrounding the Switch 2, as it's the most famous example of a Nintendo failure. 'The Wii U, with its confusing controller-screen gimmick, sluggish user interface, and lack of a great Custom Robo game, was one of Nintendo's worst flops,' GameFile author Stephen Totilo explained in an email to The Verge. It sold less than 14 million units, a dramatic drop from the Wii, which sold over 100 million. And while Nintendo expects to sell one million more Switch 2 units in its first year than the Wii U sold in its life, that's not necessarily indicative of long-term success. 'The Wii U nevertheless sold out at launch back in November 2012,' Totilo said, 'pulling in sales that reportedly topped the US launch sales of the Xbox 360 and PS3.' When looking at launch sales projections and predictions, Mat Piscatella, video game analyst for Circana, warned that what a console does during its launch period is no indication of what it'll do overall. 'Sales around the launch period are more reflection of available supply than anything,' Piscatella said. Another, more important factor for a console launch is the audience. 'With anything regarding gaming right now, we have to separate the enthusiast market from the mass market, because they're behaving very differently,' Piscatella added. According to Piscatella, it's the enthusiasts driving most of the Switch 2 hype we're seeing, particularly since the last major console launches – the PS5 and Xbox Series X/S – happened five years ago. 'We haven't had new hardware designed for the masses in a long time,' he said. 'So we have a big pent up demand just for something new.' We're seeing part of that demand satisfied by the Switch 2 pre-order frenzy. The day pre-orders opened in the US (after a few weeks' delay because of President Donald Trump's tariff chicanery) they sold out within hours. GameStop held in-store pre order events that saw people lining up outside storefronts for hours to secure one. But what will really determine the success of the console is how the bigger, mass market reacts, the same one that made devices like the Wii and original Switch such hits. Piscatella says this group is biding its time right now, 'leaning into free-to-play and the content they already have.' It's a tricky time for the industry. New blockbuster titles are getting ever more expensive to make. Consumers, in turn, are buying fewer of them in favor of spending their time and money in established games, all while persistent layoffs three years running are making it harder for new games to come out on time. Add that to 2025's unique and volatile US tariff situation and the associated price increases, and now is one hell of a time to launch a video game console. 'A games console is for a lot of people [...] an unaffordable luxury, especially for families,' said Keza MacDonald, video game editor at The Guardian and author of a forthcoming book about Nintendo's history. MacDonald believes that most people who want a Switch 2 will have already pre-ordered one and that Nintendo's real work will be to convince everyone else they want one too – a job the company doesn't seem to be doing that well. Silvie Krekow, a gamer who works at Vox Media as a creative director, says she knows 'almost nothing' about the Switch 2. She doesn't frequent gaming websites or consume gaming media, but she noted it was odd that 'a 33-year-old gamer with disposable income who owns a Switch, PS4, and Xbox One' didn't casually come across at least some Switch 2 information. Other colleagues and self-described 'gaming casuals' I spoke to expressed similar sentiments. According to MacDonald, Nintendo is handling this launch period very conservatively. 'It's like, 'We know everyone's going to buy this anyway. We don't have to sell you on it,'' she said. 'But I'm not sure if that's true.' At the Switch 2 Direct in April, Nintendo showed off a console with some slight quality-of-life and performance upgrades. That may work for the enthusiasts – they get more of what they already liked about the original. But without something more to entice consumers beyond the diehards, the Switch 2 may struggle to find its audience. 'As for the [Switch 2 features] I'm not particularly excited,' said Kushal Raval, an operations manager at Vox Media. 'The rolling controller sounds interesting, but the voice chat feature seems a bit pointless.' Kushal owns a Switch, which he said didn't run games like Fortnite as well as he wanted. And while the Switch 2's technical upgrades will likely improve this, Kushal said, 'With a $450–$500 price tag, I'm leaning much more toward getting a Steam Deck.' The Switch 2 also has to compete against people content with its predecessor. 'I have a Switch Lite that I bought during the pandemic,' said Jackie Noack, a video producer at Vox Media. 'My husband has the Switch 1, and I don't think we use them quite enough to justify replacing them.' For Noack, the console's price is also a major factor. '$500 does seem steep to me!' The Switch 2 will not be a dud like the Wii U, but it likely will not reach the heights of the original Switch. The price and lack of defining new features are two reasons, but perhaps the biggest is that the circumstances that fostered the OG Switch's success were incredibly unique. 'The Switch really picked up during the pandemic with Animal Crossing. That was an enormous hit,' MacDonald said. 'And obviously that was such a unique combination of circumstances, I'm not sure that could happen again.' Piscatella agrees: 'The Switch is an outlier success. I think [the Switch 2] is unlikely to do Switch numbers in the long term.' The lead up to the launch of the Nintendo Switch 2 has been filled with so much built-up pressure from the anticipation of hungry gamers eager for any news, which was exacerbated by prolific leaks and Nintendo's typical propensity for silence. With the console's official reveal and the enthusiastic response from dedicated fans, that pressure could not be higher – and with launch coming next week, the release valve is finally about to open.
The Sun
a day ago
- Business
- The Sun
Hard-up households to get up to £150 in free cost of living cash
HARD-UP households can get up to £150 in free cost of living cash. Cash-strapped households can get access to money through the Household Support Fund (HSF). 1 The scheme has been extended multiple times with the latest round running between April 2025 and March 2026. Each council in England has been allocated a share of the £742million fund and can distribute it to residents in need. Eligibility criteria varies based on where you live but usually help is offered to those on benefits or a low income. Eligible households in Leeds will get payments of up to £150 to help. How much you will be given depends on factors like if you are a pensioner or if you have dependent children. All claimants must also be in receipt of Council Tax Support, a scheme where those on a low income or benefits can get money off the bill. The payment will be £125 to households with dependent children and £50 to all households without. Meanwhile, some pensioner households who are eligible for Council Tax Support but not the Winter Fuel Payment will receive £150. The £300 benefit was previously available to everyone aged 66 but cuts made by Labour now mean only those on means-tested benefits, such as Pension Credit get the help. Sir Keir Starmer has announced plans to ease cuts to the Winter Fuel Allowance, - however the PM was sparse on details about when the changes might take place. Cash for Care Leeds council said those who are eligbile for the support will recieve the payment in the autumn and winter. The council also said it would be in direct contact with those who meet the criteria. A qualifying date for when you need to have been in receipt of Council Tax Support to be eligible for the support has not yet been set. So if you think you may be eligible for the support it might be worth submitting an application. You can find out more by vising, APPLY FOR A COUNCIL TAX REDUCTION If you are on a low income or receiving benefits, you could be eligible for a reduction on your council tax. Whether you are eligible will vary depending on where you live. Also it does not matter whether you own your home or rent, anyone who is struggling financially can apply. You need to apply for a reduction via your local councils website. To make a claim, will need to provide the council with information on your earnings and what pensions, benefits, allowances and tax credits you receive. To find where your local council is visit In some instances your bill could be reduced by 100%, meaning you don't have to pay anything. You could also get a deferral if you're struggling to pay your bill, or you can speak to your council about setting up a payment plan to manage the cost. Pensioners may also find themselves eligible for a council tax reduction. If you receive the Guarantee Credit element of Pension Credit, you could get a 100% discount. If not, you could still get help if you have a low income and less than £16,000 in savings. And a pensioner who lives alone will be entitled to a 25% discount too. Again, to claim this, you will need to contact your local council. WHAT IF I DON'T LIVE IN LEEDS The £742million Household Support Fund has been shared between all councils in England. For example, North Somerset Council has also announced it will provide food vouchers worth up to £100 to those in need. And, families living in Worcestershire can apply for cost of living cash worth £500. Meanwhile, Cheshire West Council's latest allocation of the Household Support Fund is worth £200. Hartlepool council is also distributing £100 food vouchers to all children eligible for free school meals aged between two and 19. But even if you don't live in these areas but are struggling financially or are on benefits you will likely be eligible for help. This is because the fund was originally set up to help those on low incomes or classed as vulnerable. What type of help you can get will vary but it could range from a free cash payment to supermarket vouchers. It's worth bearing in mind, because the new round of the HSF has only just opened, you might not be able to apply for help yet. However, it's worth keeping an eye on your local council's website or social media channels. Household Support Fund explained Sun Savers Editor Lana Clements explains what you need to know about the Household Support Fund. If you're battling to afford energy and water bills, food or other essential items and services, the Household Support Fund can act as a vital lifeline. The financial support is a little-known way for struggling families to get extra help with the cost of living. Every council in England has been given a share of £421million cash by the government to distribute to local low income households. Each local authority chooses how to pass on the support. Some offer vouchers whereas others give direct cash payments. In many instances, the value of support is worth hundreds of pounds to individual families. Just as the support varies between councils, so does the criteria for qualifying. Many councils offer the help to households on selected benefits or they may base help on the level of household income. The key is to get in touch with your local authority to see exactly what support is on offer. And don't delay, the scheme has been extended until April 2025 but your council may dish out their share of the Household Support Fund before this date. Once the cash is gone, you may find they cannot provide any extra help so it's crucial you apply as soon as possible.
News.com.au
2 days ago
- Business
- News.com.au
Did baby boomers really have it harder?
ANALYSIS In the intergenerational debate surrounding the relative challenges faced by the various generations over the decades, much of the context is often lost in translation. Through the passage of time and the cumulative impact of inflation, the context of earning $3 an hour at a part time job in say 1981 is largely lost. That is unless you have something of an economic Rosetta Stone with which to translate that into today's terms, so we can better understand one another. Today, we have an attempt at just that. In the first interactive chart, you can click a year on the chart and it will tell you what median full-time earnings were at that point. When put into context with the latest median full-time earnings figures from the ABS, in which the figure is now $1,700 per week, it provides a degree of clarity on here someone's earnings stood in a given year and a means of extrapolation for what they might look like today. In the second, it shows the evolution of a cost of a basket of goods. It starts 50 years ago in 1975 and illustrates over time how much the cost of $1 worth of goods has risen relative to inflation. It also provides a means of comparison to contrast the relative cost of living in a certain year with the present. Earnings evolution Before we get into today's numbers, a few details on limitations are required. Median full-time earnings as a metric is not directly equivalent to wages growth. The ABS Wage Price Index tells you how much growth there is in wages in the same roles, year after year, decade after decade. Meanwhile, median full-time earnings tell you what the person in the very middle of the full-time earners is making over time, so it doesn't account for changes in workforce composition or education levels over time. Back in 1975, the median full-time worker earned $129 per week, since then it has risen to $1700, roughly 13.6 times what it was 50 years ago. For men full time earnings are 13.3 times higher than they were in 1975, for women 15.1 times higher. Cost of living The scope of today's analysis for the cost of living also begins back in 1975. Back then the cost of the basket of goods and services that define the consumer price index was just 11.4 per cent of its cost today. In the decades since, the declining purchasing power of a dollar has not been a linear process, with bouts of high inflation doing significantly more damage than periods of lower than historic inflation, such as the years in the run up to the pandemic. Overall, the cost of the ever-changing basket of goods and services that make up the nation's consumer price index has risen by 8.7x in the last 50 years. A difference in perspective One expression of the disparate viewpoint on the cost of living over time was recently exemplified by a survey performed on behalf of comparison website The survey concluded that Baby Boomers believed they needed an income of $106,747 to live comfortably and that the figure continued to rise through subsequent generations to Gen Z, who believe an income of $198,880 is required to live comfortably. In some ways, this is effectively a graph of declining housing affordability over time. The last of the Baby Boomers passed through their prime first home buying years before broad based affordable housing came to an end shortly after the turn of the millennium and things have continued to deteriorate for each subsequent generation. Putting it all together Bridging the gap between our collective perceptions of incomes and the cost of living over time can be challenging, but using data and tools like today's can provide a degree of clarity and perhaps a more solid point for comparison. It's easy to get bogged down in the perception that people today earn up to 15x more in nominal terms than their fellow Australians did almost 50 years ago, when the ABS series on median full-time earnings began with a high degree of data collection consistency. But once you adjust incomes from any point in history to where that stands versus today's norms, all of a sudden, the gap narrows dramatically and it becomes clear that perhaps things are far less disparate than it first appears. The same is true but to a slightly lesser degree when adjusting historic costs for the rate of headline inflation. Ultimately, the more the nation's various generations understand the circumstances that the other's faced in the past or present, the more we can find common ground with which to build bridges and perhaps place a greater focus on the issues facing the nation, rather than the perceived differences that often lead to divide us.
Bloomberg
2 days ago
- Business
- Bloomberg
Nigerians Await Rewards From Tinubu's Reforms
Welcome to Next Africa, a twice-weekly newsletter on where the continent stands now — and where it's headed. Sign up here to have it delivered to your email. Bola Tinubu's policies as Nigerian president have drawn praise from investors, the World Bank and the International Monetary Fund. For households facing a cost-of-living crisis, the picture isn't so rosy.
Malay Mail
2 days ago
- Business
- Malay Mail
PKR kicks off new term with focus on public's burden, Sabah state election battle plan
KUALA LUMPUR, May 30 — The first meeting of the Parti Keadilan Rakyat (PKR) Political Bureau for the 2025/2028 session held yesterday focused on the implementation of policies introduced by the executive and their impact on the people's cost of living. First meeting of PKR political bureau focuses on cost of living, prep for Sabah state election KUALA LUMPUR, May 30 — The first meeting of the Parti Keadilan Rakyat (PKR) Political Bureau for the 2025/2028 session held yesterday focused on the implementation of policies introduced by the executive and their impact on the people's cost of living. The PKR Political Bureau said in a statement that the meeting, chaired by PKR president Datuk Seri Anwar Ibrahim, also scrutinised follow-up steps to ensure that the people's welfare always remained as the party's main priority. 'Discussions also touched on the Sabah State Election, which will be held soon. The party's current focus is to ensure readiness in facing the polls. 'The deputy president and all vice-presidents have been given specific tasks to ensure the victory of the party and its partners in the Madani Unity Government,' the statement said yesterday. In addition, to ensure the continuity of election preparations, former chairman of the Sabah State Leadership Council (MPN) Mustapha Sakmud will continue his duties in the role while awaiting the appointment of the new MPN leadership. 'Datuk Peto Galim will also continue his responsibilities as director of the Sabah State Election Committee,' according to the bureau. The statement also said that the meeting decided that in the interim, Fuziah Salleh and William Leong will continue their duties as secretary-general and treasurer-general, respectively, until the new leadership is appointed in the upcoming Central Leadership Council meeting. Last Saturday, Anwar expressed confidence that the new leadership would be able to elevate the party to greater heights. — Bernama The PKR Political Bureau said in a statement that the meeting, chaired by PKR president Datuk Seri Anwar Ibrahim, also scrutinised follow-up steps to ensure that the people's welfare always remained as the party's main priority. 'Discussions also touched on the Sabah State Election, which will be held soon. The party's current focus is to ensure readiness in facing the polls. 'The deputy president and all vice-presidents have been given specific tasks to ensure the victory of the party and its partners in the Madani Unity Government,' the statement said yesterday. In addition, to ensure the continuity of election preparations, former chairman of the Sabah State Leadership Council (MPN) Mustapha Sakmud will continue his duties in the role while awaiting the appointment of the new MPN leadership. 'Datuk Peto Galim will also continue his responsibilities as director of the Sabah State Election Committee,' according to the bureau. The statement also said that the meeting decided that in the interim, Fuziah Salleh and William Leong will continue their duties as secretary-general and treasurer-general, respectively, until the new leadership is appointed in the upcoming Central Leadership Council meeting. Last Saturday, Anwar expressed confidence that the new leadership would be able to elevate the party to greater heights. — Bernama
