Stocks skid…Smooth travel…Israel threatens Airbnb
NEW YORK (AP) – Stocks are skidding as weak results from retailers and mounting losses for big technology companies push the market back into the red for the year. Energy companies are slumping because of a 7 percent plunge in the price of oil. Crude is on track for its biggest loss in three years. Industrial companies are also dropping as the downward momentum in stocks builds after steep losses yesterday.
UNDATED (AP) – Favorable weather is helping get the Thanksgiving travel rush off to a smooth start. By midday, just a few dozen flights had been canceled around the U.S. That’s fewer cancelations than many regular travel days. The AAA auto club predicts that 54.3 million Americans will travel at least 50 miles from home between Wednesday and Sunday, the highest number since 2005 and about a 5 percent increase over last year. AA says 48 million will drive and 4.7 million will fly.
NEW YORK (AP) – Records that hadn’t been publicly disclosed show that Navient, one of nation’s largest student loan servicing companies, may have steered thousands of borrowers into higher cost repayment plans. And the Department of Education may have kept these documents from authorities. The audit, obtained by The Associated Press, appears to support federal and state lawsuits that accuse Navient of boosting its profits by steering some borrowers into the high-cost plans without discussing options that would have been less costly in the long run.
KFAR ADUMIM, West Bank (AP) – Israel is threatening vacation rental company Airbnb with high taxes and legal repercussions over its decision to remove listings from Jewish West Bank settlements. The threats step up Israel’s fight against a global movement advocating for boycotts over the country’s treatment of the Palestinians.
JACKSON, Miss. (AP) – Walmart is asking U.S. Sen. Cindy Hyde-Smith to return a recent campaign contribution because of comments by the Mississippi Republican that dredged up strong emotions about the state’s history of racial violence. A video showed Hyde-Smith praising a supporter at a campaign event by saying: “If he invited me to a public hanging, I’d be on the front row.”