Why retailers still see Black Friday as the high point of the holiday shopping season
NEW YORK (AP) — After weeks of plugging increasingly inviting discounts, retailers in the United States and several other countries are preparing for prime time. The Black Friday bargain bonanza still reigns as the unofficial kickoff of the holiday shopping season even if it’s lost some luster. In the U.S., analysts envision a solid holiday shopping season, though perhaps not as robust as last year’s, with many shoppers under financial pressure and cautious with their discretionary spending despite the easing of inflation. Retailers are even more under the gun to get shoppers in to buy early and in bulk since there are five fewer days between Thanksgiving and Christmas this year.
Canada sues Google over alleged anticompetitive practices in online ads
TORONTO (AP) — Canada’s antitrust watchdog is suing Google over alleged anticompetitive conduct in the tech giant’s online advertising business and wants the company to sell off two of its services and pay a penalty. The Competition Bureau says that such action is necessary because an investigation it conducted into Google found that the company “unlawfully” tied together its ad tech tools to maintain its market dominance. The matter is headed for the Competition Tribunal, a quasi-judicial body that hears cases brought forward by the competition commissioner about non-compliance with the Competition Act. The bureau is asking the tribunal to order Google to sell its publisher ad server, DoubleClick for Publishers, and its ad exchange, AdX.
Oil field owner sues California over law that would end its Los Angeles-area operations
LOS ANGELES (AP) — The owner of an oil field in Los Angeles County is suing the state of California over a law that will require it to stop production and plug its wells or face costly fines. Sentinel Peak is the owner of the Inglewood Oil Field. Los Angeles Times reports that it argues in its lawsuit filed this week that the law is unconstitutional. The bill was signed in September by Gov. Gavin Newsom. It is one of several measures aiming to reduce pollution by giving local governments more authority to restrict oil and gas operations.
South Korea’s central bank cuts key interest rate to nurse a slower economy
SEOUL, South Korea (AP) — South Korea’s central bank has lowered its key policy rate and says the country’s economy will grow at a slower pace than it initially anticipated. The Bank of Korea cut its benchmark interest rate by a quarter percentage point to 3% after policymakers met Thursday. The bank lowered its outlook for the country’s economic growth to 2.2% from 2.4% for this year and to 1.9% from 2.1% for 2025. It was the second straight month that the bank took steps to lower borrowing costs, despite the lingering effects of high inflation and alarming levels of household debt, as economic growth falters.
Mexican president says she is confident that a tariff war with the US can be averted
MEXICO CITY (AP) — Mexican President Claudia Sheinbaum says she is confident that a tariff war with the United States can be averted. But her statement Thursday — the day after a phone call with U.S. President-elect Donald Trump — did not make clear who had offered what. On Wednesday, Trump wrote that Sheinbaum had agreed to stop unauthorized migration across the border into the United States. Sheinbaum wrote on the same day that “migrants and caravans are taken care of before they reach the border.” Trump had earlier threatened to impose 25% tariffs on imports from Mexico unless the country stops the flow of migrants and drugs.
Trump claims a win on immigration after a call with Mexico’s president. But she suggests no change
WEST PALM BEACH, Fla. (AP) — President-elect Donald Trump is declaring a win on stopping illegal immigration through Mexico after talking with that country’s leader. But Mexican President Claudia Sheinbaum is suggesting Mexico is already doing its part and has no interest in closing its borders. The two spoke on Wednesday, just days after Trump threatened to impose sweeping new tariffs on Canada and Mexico as part of his effort to crack down on illegal immigration and drugs. Trump said Sheinbaum “agreed to stop Migration through Mexico.” Sheinbaum indicated separately on social media that she told Trump that Mexico is already “taking care of” migrant caravans, calling it an “excellent conversation.”
Regulators cracked down on sweet vapes after use by kids spiked. Now the Supreme Court is wading in.
WASHINGTON (AP) — Vaping is coming before the Supreme Court next week as federal regulators ask the high court to uphold its block on sweet, flavored products following a spike in youth e-cigarette use. The Food and Drug Administration has denied more than a million marketing applications for candy or fruit flavored products, part of a wider crackdown that advocates say helped drive down teen nicotine use after an epidemic-level surge in 2019. Vaping companies, though, said the agency unfairly disregarded arguments that their sweet e-liquid products would help adults quit smoking traditional cigarettes. The case comes shortly before the inauguration of president-elect Donald Trump, whose incoming administration could take a different approach.
Zuckerberg dines with Trump in Mar-a-Lago
FORT LAUDERDALE, Fla. (AP) — Donald Trump dined on Wednesday with Meta CEO Mark Zuckerberg at the president-elect’s Mar-a-Lago club in Florida. The visit brought together the Facebook founder and the former president who was once banned from that social network. Stephen Miller, who has been appointed deputy chief of staff for Trump’s second term, says Zuckerberg wants to support Trump’s economic plans. Trump was kicked off Facebook following the Jan. 6, 2021 attack on the U.S. Capitol. The company restored his account in early 2023.
Stock market today: World shares are mostly higher after Big Tech losses pull Wall St lower
BANGKOK (AP) — World shares are mixed after losses for big technology stocks pulled major indexes lower on Wall Street. Tokyo advanced while markets in China declined. South Korea’s central bank cut its benchmark interest rate to relieve pressure on its slowing economy. The Russian ruble fell against the U.S. dollar. On Wednesday, the S&P 500 fell 0.4% and the Dow Jones Industrial Average slipped 0.3%. The Nasdaq composite lost 0.6%. Losses for Nvidia, Microsoft and Broadcom were the biggest weights on the market. U.S. financial markets will be closed Thursday for Thanksgiving, and will reopen for a half day on Friday.
One Tech Tip: Home for the holidays? Show relatives you care with some tech support
NEW YORK (AP) — As the holiday season kicks off, the journey home could also mean that those who are more tech-savvy will be called on to provide a backlog of tech support to parents, grandparents and other family. Tips on how to manage your tech encounters this holiday season include making sure operating systems are updated automatically for the best protection against malware and viruses. Make sure devices have enough storage too by freeing up space through cloud backups and clearing data out of browser caches. Introduce family members to password managers so they don’t have to keep remembering passwords. Educate your loved ones about online scams.
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