Business News

Retailers bank on Black Friday to energize bargain-hungry holiday shoppers

NEW YORK (AP) — Retailers in the United States and some other countries have spent weeks pushing early holiday deals, but they are trying to seduce customers with promises of bigger discounts on Black Friday. The day after Thanksgiving still reigns as the unofficial kickoff of the holiday shopping season even if it’s lost some luster. In the U.S., analysts envision solid sales, though perhaps not as robust as last year’s. Despite the easing of inflation, many shoppers are being cautious with their discretionary spending, according to analysts. 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.

Inflation rose to 2.3% in Europe. That won’t stop the central bank from cutting interest rates

FRANKFURT, Germany (AP) — Inflation in the 20 countries that use the euro currency rose in November — but that likely won’t stop the European Central Bank from cutting interest rates as the prospect of new U.S. tariffs from the incoming Trump administration adds to the gloom over weak growth. The European Union’s harmonized index of consumer prices rose 2.3 percent, up from 2.0% in October, according to EU statistics agency Eurostat. However, worries about growth mean the Dec. 12 ECB meeting is not about whether to cut rates, but by how much. Market buzz says there could be a larger than usual half-point cut in the benchmark rate, currently 3.25%.

From T-shirts to thongs, how indie film merchandise became a hot commodity

LOS ANGELES (AP) — Merchandise is nothing new. But in recent years, movie-inspired streetwear has exploded in popularity among film buffs, thanks in part to viral marketing campaigns put on by independent film studios. Take the hourslong line for one-day-only “Anora” pop-up in Los Angeles, for instance. Clothes are promoted as trendy and in limited supply and are often made in collaboration with popular brands. The experience of watching movies has become a less collective one in recent years. For many fans, repping their favorite films in public is a way to combat that.

Massachusetts lawmakers push for an effort to ban all tobacco sales over time

BOSTON (AP) — A handful of Massachusetts lawmakers are hoping to persuade their colleagues to support a proposal that would make the state the first to adopt a ban meant to eliminate the use of tobacco products over time. Other locations have weighed similar “generational tobacco bans.” The bans phase out the use of tobacco products based not just on a person’s age but on birth year. Lawmakers plan to file the proposal next year. If approved, the bill would set a date and ban the sale of tobacco to anyone born after that date forever, eventually banning all sales.

Santa’s annual train visit delivers hope and magic to one corner of coal country

ON BOARD THE SANTA TRAIN (AP) — Since 1943, the people of Appalachian Kentucky, Virginia, and Tennessee have looked forward to Santa’s arrival. Not in a sleigh on their rooftops, but on a train. At each stop of the CSX Santa Train there are dozens to hundreds of people. Many crowd around the back, where Santa and his helpers toss stuffed animals. Meanwhile groups of volunteer “elves” fan out with gifts, making sure every child goes home with something. Many of the children who line the tracks on the Saturday before Thanksgiving, waiting for Santa, are the third, fourth or fifth generation to do so. Sandra Owens has been coming for 43 years and now brings her grandchildren. She says, “The faces of the kids, that’s what makes me happy. You can’t see anything better.”

Donald Trump’s call for ‘energy dominance’ is likely to run into real-world limits

WASHINGTON (AP) — Donald Trump is creating a National Energy Council that he says will establish U.S. “energy dominance” around the world. It will be key in Trump’s pledge to sell more oil to allies and his intent to move away from President Joe Biden’s focus on climate change. But the president-elect’s energy wishes are likely to run into real-world limits. For one, U.S. oil production under Biden is already at record levels. And Trump’s bid to boost oil supplies and lower U.S. prices is complicated by his threat to impose 25% import tariffs on Canada and Mexico, two of the largest sources of U.S. oil imports.

Okonjo-Iweala given 2nd term as WTO chief as Trump’s return looms over trade body’s future

GENEVA (AP) — The World Trade Organization chief says she’s “eager” to work with U.S. President-elect Donald Trump and his trade team, while taking a wait-and-see stance about Trump’s plans to impose new tariffs on goods from other countries including China, Mexico and Canada. WTO Director-General Ngozi Okonjo-Iweala made the comments to reporters after member countries handed her a second four-year term, in a vote with no opposition. The Geneva-based trade body’s future is clouded by Trump’s return to power in the United States, which has the world’s single biggest economy. During his first term, the Trump administration largely bypassed WTO rules by imposing tariffs on steel and other goods from countries including China and even U.S. allies.

Amazon workers in India join Black Friday strike action for better wages and working conditions

NEW DELHI (AP) — Amazon staff in India have joined strike action calling for better wages. Around 200 warehouse workers and delivery drivers rallied in the capital New Delhi under a “Make Amazon Pay” banner to demand higher wages, better working conditions, and union rights. At a rally some workers donned masks of company chief Jeff Bezos and joined hands against the Seattle-based company’s practices following the walkout on Black Friday, which starts one of the biggest shopping weekends of the year. Amazon, in a statement issued in India, accused the group of workers of “intentionally misleading and continuing to promote a false narrative.” Similar protests are planned by Amazon staff in other parts of the world, including the United States, Germany, Japan, and Brazil.

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.