 | Good Morning –
Here's what we're watching as the U.S. business day gets under way: | |
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What's News |
The top news events to keep an eye on today |
| Attention, Black Friday shoppers: Prices may not be as low this time around. Last year the discounts were 6% deeper than this year across 17 categories in Black Friday circulars, according to price-tracking firm Market Track. | |
| President Donald Trump spoke with troops in Afghanistan from his Mar-a-Lago resort in Florida, visited Coast Guard members, criticized his predecessor and poked fun at the media during his first Thanksgiving in office. | |
| Data released yesterday on the eurozone economy showed it appears to have gained fresh momentum. Adding to this week's economic data releases, Markit's flash Composite Purchasing Managers' Index, or PMI, for the U.S. will be released today, providing an estimate of private sector output. | |
| Distraught families of the 44 crew members aboard Argentina's missing submarine began mourning after navy officials said an explosion was detected near the vessel's last-known position. | |
| Wall Street's 2017 market predictions were nearly universally wrong, writes James Mackintosh, though there is little admission of that fact in the annual outlooks now clogging investors' inboxes once again. | |
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| Large companies are repurchasing their shares at the slowest pace in five years. Companies in the S&P 500 are on pace to spend $500 billion this year on share buybacks, according to data from INTL FCStone, the least since 2012. | |
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What's Trending |
The stories you might have missed overnight |
 Uber CEO Dara Khosrowshahi officially took the helm on Sept. 5. PHOTO: ADRIANO MACHADO/REUTERS |
| While the massive data breach didn't happen under his watch, more than two months elapsed before new Uber CEO Dara Khosrowshahi notified affected customers and drivers of the incident, according to people familiar with the matter. |
| Myanmar and Bangladesh agreed to begin repatriating ethnic Rohingya Muslims who fled a crackdown in Buddhist-majority Myanmar, a complex process that could take years. |
| Shares of ''Angry Birds'' maker Rovio Entertainment plunged 22% yesterday after a surprise third-quarter loss was reported in its first earnings since going public in September. |
| The U.S. Navy ended its search-and-rescue operations for three missing sailors after one of its cargo planes crashed near Japan. Eight other people were rescued and were in good health, according to the Navy. |
| The global banking co-head of HSBC Holdings, Matthew Westerman, will leave after a turbulent 18 months at the bank. |
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Chart of the Day |
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| Millions of consumers are using their phones to shop instead of lining up at stores after Thanksgiving meals this year, making the 24 hours that started Thursday evening the biggest online spending period of the year. |
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Elsewhere |
| Lawyers for former national security adviser Michael Flynn told President Trump's legal team that they could no longer discuss special counsel Robert Mueller's investigation. |
| via the New York Times |
| Whitefish Energy Holdings restarted repair work on Puerto Rico's electric grid after receiving a payment from the island's utility. The company had said earlier this week it was stopping work because it was owed money. |
| via Bloomberg |
| Chinese police said they broke up a gang that smuggled $3 billion out of the country. |
| via the Associated Press |
| Self-driving cars from Chinese company Baidu have been seen on public roads in Beijing. |
| via the Financial Times |
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This Day in History |
| Mattel Is Profiled as a Retail Success Story Elliot Handler, the president of Mattel, and his wife Ruth ''built Mattel from a tiny business operated out of a Los Angeles garage into a toy colossus,'' the Journal wrote. The paper reported that by the previous fiscal year, sales had ''zoomed to $96.2 million and profit to $5.5 million. Between 1955 and 1963 Mattel sales multiplied more than 20 times while total toy industry sales only doubled.'' Earlier this month, it was reported that rival Hasbro had made a takeover offer for Mattel. The two companies are currently the biggest U.S. toy makers. However, the terms of any possible deal couldn't be learned, and the approach might go nowhere. Mattel's market value is now about $5 billion, while Hasbro's is more than $11 billion. If they combined, they would control 22% of overall global sales of traditional toys and games. | |
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