In Era of Online Retail, Black Friday Still Lures a Crowd   

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It would have been easy to turn on their computers at home over plates of leftover turkey and take advantage of the Black Friday deals most retailers now offer online.      But across the country, thousands of shoppers flocked to stores on Thanksgiving or woke up before dawn the next day to take part in this most famous ritual of American consumerism.    Shoppers spent their holiday lined up outside the Mall of America in Bloomington, Minn., by 4 p.m., and the crowd had swelled to 3,000 people by the time doors opened an hour later. In Ohio, a group of very determined women booked a hotel room Thursday night to be closer to the stores. In New York City, one woman went straight from a dance club to a department…
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China: WTO Changes Must Support Developing Countries

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China will go along with changes meant to update global trade rules so long as they protect Beijing’s status as a developing country, a Cabinet official said Friday. The deputy commerce minister, Wang Shouwen, said any changes also must address protectionism and abuse of export controls and security reviews — a reference to Beijing’s trade clash with U.S. President Donald Trump. China agreed in June to work with the European Union to propose changes to the World Trade Organization to address technology policy, subsidies and state industry — all areas in which Beijing faces complaints. U.S. officials complain the global trade referee is too bureaucratic and slow to adapt to changing business conditions. Wang said each country’s “development model” must be respected — a reference to China’s state-dominated economy, which…
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Amazon Staff in Europe Protest to Coincide With Black Friday

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Some of Amazon’s workers in Europe are protesting against what they call unfair work conditions, in a move meant to disrupt operations on Black Friday. Amazon Spain said around 90 percent of workers at a logistics depot in near Madrid joined a walkout Friday. Only two people were at the loading bay, spokesman Douglas Harper said. However, he said Amazon had diverted cargo deliveries to its other 22 depots in the country. On a picket line, 38-year-old employee Eduardo Hernandez said the walkout intended to hurt the company financially. “It is one of the days that Amazon has most sales, and these are days when we can hurt more and make ourselves be heard because the company has not listened to us and does not want to reach any agreement,”…
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Zimbabwe’s FM Aims to Turn Economy Around with New Budget

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Zimbabwe's finance minister has unveiled the country's 2019 budget. Mthuli Ncube says the plan should help restore the economy of the southern African nation after years of recession. "Madam Speaker, ma'am, in conclusion, this budget should mark a turning point towards realizing the country's vision 2030, as austerity will lead us to prosperity," Ncube said. "To quote the philosopher, Immanuel Kant, "We are rich not by what we possess, but by what we can do without." I now commend the 2019 national budget to this august house. I thank you." Finance Minister Mthuli Ncube said the budget marked a step toward Zimbabwe attaining its vision of an "upper middle income country by 2030." He said Zimbabwe was working toward retiring its ever ballooning debt, which now stands at about $10…
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Technology Shapes Insurance Companies’ Response to Wildfires

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As wildfires raged this month in California, insurance claims experts at Travelers sat in a command center 3,000 miles (4,828 kilometers) away in Connecticut, monitoring screens showing satellite images, photos from airplane flyovers and social media posts describing what was happening on the ground. Real-time data and technology that were unavailable to property-casualty companies even a few years ago have shaped the industry's response to the Camp Fire, which has burned nearly 240 square miles (622 square kilometers) in northern California and the 151-square-mile (391-square-kilometer) Woolsey Fire in the Los Angeles area. By overlaying the data on maps marking its customers' locations, the company can quickly identify those who are likely to have been affected, said Jim Wucherpfennig, Travelers vice president of claims. "That allows us to deploy people and…
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Nissan Board Fires Jailed Chairman Ghosn

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Once-admired auto executive Carlos Ghosn's fall from grace deepened Thursday when directors of Nissan Motor Co. voted unanimously to fire the recently jailed businessman from his post as board chairman. Dismissed along with Ghosn was another director, Greg Kelly, whom the board accused of working with Ghosn to understate their incomes on formal declarations and use company assets for personal purposes. An internal investigation presented to the board found that Kelly had "been determined to be the mastermind of this matter, together with" Ghosn, the company said in a statement.  The board also said that Nissan's longstanding partnership with the French automaker Renault "remains unchanged." While he has been fired as chairman, the company said, it will require a vote of shareholders to remove Ghosn from the board altogether. The…
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Lebanon’s Economy Faces Stark Choice: Reform or Collapse

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Lebanon is marking 75 years of independence with a military parade Thursday in Beirut, but many anxious Lebanese feel they have little to celebrate: the country's corruption-plagued economy is dangerously close to collapse and political bickering over shares in a new Cabinet is threatening to scuttle pledges worth $11 billion by international donors. The World Bank issued a stark warning last week, with one official saying that unless a government is formed soon to carry out badly needed reforms, "the Lebanon we know will fizzle away." It's been more than six months since Lebanon held its first national elections in nine years but the prime minister-designate, Saad Hariri, still hasn't formed a government to undertake the reforms necessary to unlock the donors' funds.   The vote, in which the Shi'ite…
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Canada Unveils Investment Tax Break

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Canada will allow businesses to write off additional capital investments to make them more competitive at a time when the United States is aggressively cutting taxes, Finance Minister Bill Morneau said Wednesday.  But Morneau, speaking as he unveiled a budget update that forecast a slightly smaller than predicted deficit for 2018-19, said Ottawa would not be slashing taxes to match aggressive moves by Washington.  "If we were to do that, it would add tens of billions in new debt," he told the House of Commons.  The move could disappoint business groups that said Ottawa needed to do much more to match the U.S. cuts. Morneau acknowledged their concern and said it would be neither rational nor responsible to do nothing.  The federal government will allow businesses to immediately write off for tax purposes the full cost of machinery and equipment used…
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German Car Bosses Reportedly Invited to White House to Discuss Tariffs 

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The Trump administration has invited the heads of Volkswagen, BMW and Daimler to the White House to discuss U.S. tariffs on carmakers, the Handelsblatt newspaper reported on Wednesday. Citing industry and diplomatic sources, the paper said the meeting could possibly take place as soon as next week, depending on circumstances. Handelsblatt said it was not known whether U.S. President Donald Trump would attend the meeting. A spokesman for Volkswagen declined to confirm or deny whether the carmaker had received an invitation. Sources close to VW said it had not received an invitation.   Daimler and BMW did not immediately respond to requests for comment. The White House did not immediately respond to a request for comment. Trump has threatened for months to impose tariffs on all European Union-assembled vehicles, a…
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Trump Thanks Saudis for Tamping Down World Oil Prices

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U.S. President Donald Trump on Wednesday thanked Saudi Arabia for tamping down world oil prices, a day after saying the U.S. would not turn its back on Riyadh despite its responsibility for killing a dissident U.S.-based Saudi journalist. From his retreat along the Atlantic Ocean in Florida, Trump praised the Saudis, second only to the U.S. as an oil producer but the biggest global exporter, for sending enough crude to world markets to keep oil prices in check. Before leaving Washington for the Thanksgiving holiday, Trump told reporters at the White House that U.S. national security and economic interests outweigh any human rights concerns. He said turning his back on Saudi Arabia, despite the killing of Jamal Khashoggi, "would be a terrible mistake." "We're staying with Saudi Arabia," Trump announced.…
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Facebook Sued by Russian Firm Linked to Woman Charged by US Government

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A Russia-based news company whose accountant was charged by federal prosecutors for attempting to meddle in U.S. elections sued Facebook Inc in a federal court Tuesday, claiming that its Facebook page was improperly removed. The Federal Agency of News LLC and its sole shareholder, Evgeniy Aubarev, filed the lawsuit against Facebook in federal court in the Northern District of California, seeking damages and an injunction to prevent Facebook from blocking its account. Facebook deleted the company's account in April as it purged pages and accounts associated with the St. Petersburg-based Internet Research Agency, which was indicted by Special Counsel Robert Mueller earlier this year for interfering in the 2016 U.S. election. FAN and Zubarev said they were improperly swept up in Facebook's purge. Facebook did not immediately respond to a…
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Retail Disappointments, Energy Decline Hit Wall Street

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Stocks dropped again Tuesday as losses mounted for the world's largest technology companies. Retailers also fell, and energy companies plunged with oil prices as the market sank back into the red for the year.    Oil prices tumbled another 6.6 percent as Wall Street reacted to rising oil supplies and concerns that global economic growth will slow down, a worry that's intensified because of the trade tensions between the U.S. and China.    Technology companies were hit after the Trump administration proposed new national security regulations that could limit exports of high-tech products in fields such as quantum computing, machine learning and artificial intelligence.    Retailers also skidded. Target's profit disappointed investors as it spends more money to revamp its stores and its website, while Ross Stores, TJX and Kohl's…
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As Facebook Faces Fire, Heat Turns Up on No. 2 Sandberg

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For the past decade, Sheryl Sandberg has been the poised, reliable second-in-command to Facebook CEO Mark Zuckerberg, helping steer Facebook's rapid growth around the world, while also cultivating her brand in ways that hint at aspirations well beyond the social network. But with growing criticism over the company's practices, or lack of oversight, her carefully cultivated brand as an eloquent feminist leader is showing cracks. Questions these days aren't so much about whether she'll run for the Senate or even president, but whether she ought to keep her job at Facebook.  “Her brand was being manicured with the same resources and care as the gardens of Tokyo,” said Scott Galloway, a New York University marketing professor. “And unfortunately a hurricane has come through the garden.” Facebook has been dealing with…
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Boeing Cancels Call to Discuss Issues With Its Newest Plane 

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Analysts say Boeing Co. is canceling a conference call that it scheduled to discuss issues around its newest plane, which has come under scrutiny since a deadly crash in Indonesia.  The company didn't immediately give an explanation Tuesday.  CFRA Research analyst Jim Corridore said canceling the call as “a bad look for the company'' when it's facing questions about potential problems with sensors on the 737 MAX.  U.S. airline pilots say they weren't told about a new feature that could pitch the nose down automatically if sensors indicate the plane is about to stall.  On Oct. 29, a Lion Air MAX 8 plunged into the Java Sea, killing all 189 people on board.  Boeing shares are down about 13 percent since Nov. 9.  ...
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Where Did North Korea’s Cyber Army Come From?

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North Korean hackers continue to circumvent protections and compromise computer systems around the globe. Pyongyang’s cyber operatives, like the Lazarus Group, have been linked to computer system infiltrations like the 2014 Sony Pictures Studios hack prior to the release of the U.S. film “The Interview” and the attempted theft of close to $1 billion from the central Bangladesh bank using the SWIFT banking network in 2016. But how did Pyongyang become so adept at hacking while not possessing rich resources and being under tough International sanctions? Seungjoo Kim, a professor at Korea University’s Graduate School of Information Security says the answer, in part, is because North Korea’s computer hackers operate in China and Europe with easy access to the internet. “North Korea practices their craft under real conditions, like hacking…
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Nissan Says Chairman Arrested for Financial Misconduct in Japan

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Shares in automakers Nissan, Mitsubishi and Renault fell sharply Tuesday after the arrest of executive Carlos Ghosn on allegations of "significant acts" of financial misconduct. All three firms are considering replacing him as chairman. Nissan, one of the world's biggest automakers, said Ghosn falsified reports about his compensation "over many years" and that its internal investigation also found he had used company assets for personal purposes. Japanese media reported Monday that Ghosn is being questioned by Tokyo prosecutors, suspected of failing to report millions of dollars in income.  Nissan said that based on a report by a whistleblower, it conducted an internal investigation of Ghosn and Representative Director Greg Kelly and shared its findings with public prosecutors. The company said both men had been arrested. The automaker said its investigation…
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Apple, Trade Woes Sink Stocks; Growth Worries Drag on Dollar

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World stock markets fell Monday as worries about softening demand for the iPhone dragged down shares of Apple Inc and persistent trade tensions between China and the United States sapped investor sentiment. Concerns about slowing economic growth also pushed down the dollar. The U.S. benchmark S&P 500 stock index dropped 1.7 percent following a decline in shares of Apple and its suppliers. The Wall Street Journal reported Apple had cut production orders in recent weeks for iPhone models it launched in September. Renewed tensions between China and the United States also weighed. At an Asia-Pacific Economic Cooperative meeting in Papua New Guinea over the weekend, the issue prevented leaders from agreeing on a communique, the first time such an impasse had occurred in the group's history. U.S. Vice President Mike…
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UN: Afghan Opium Cultivation Down 20 Percent

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A new United Nations survey finds that opium cultivation in Afghanistan has decreased by 20 percent in 2018 compared to the previous year, citing a severe drought and falling prices of dry opium at the national level. The total opium-poppy cultivation area decreased to 263,000 hectares, from 328,000 hectares estimated in 2017, but it was still the second highest measurement for Afghanistan since the U.N. Office on Drugs and Crime (UNODC) began monitoring in 1994. The potential opium production decreased by 29 percent to 6,400 tons from an estimated 9,000 tons in 2017. The UNODC country representative, Mark Colhoun, while explaining factors behind the reduction told reporters in Kabul the farm-gate prices of dry opium at the harvest time fell to $94 per kilogram, the lowest since 2004. The decreases,…
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Nissan Chairman Faces Arrest in Japan

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Japanese automaker Nissan says it has determined that its chairman, Carlos Ghosn, falsified reports about his compensation "over many years." The company said its internal investigation also found Ghosn had used company assets for personal purposes. Japanese media are reporting Monday that Ghosn is being questioned by Tokyo prosecutors on allegations that he underreported his income and that he will likely be arrested. Ghosn is suspected of failing to report hundreds of millions of dollars in income. Nissan says Ghosn will be dismissed from the company. The Ashai newspaper reported that prosecutors have raided Nissan's headquarters in Yokohama. The Brazilian-born Ghosn, who is of Lebanese descent and a French citizen, was the rare foreign top executive in Japan. Ghosn was sent to Nissan in the late 1990s by Renault SA…
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Pence, Xi Sell Competing Views to Asian Regional Economies

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The United States and China offered competing views to regional leaders at the Asia Pacific Economic Cooperation (APEC) meetings in Papua New Guinea, trading sharp words over trade, investment, and regional security.  Washington said it can provide a better option for regional allies under is “Free and Open Indo-Pacific” strategy.  as VOA's State Department correspondent Nike Ching reports, the APEC gathering ended without a formal leaders' statement. ...
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Federal Reserve Policymakers See Rate Hikes Ahead, Note Worries

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Federal Reserve policymakers on Friday signaled further interest rate  increases ahead, but raised relatively muted concerns over a potential global  slowdown that has markets betting heavily that the Fed's rate hike cycle will soon peter out. The widening chasm between market expectations and the rate path the Fed laid out just two months ago underscores the biggest question in front of U.S. central bankers: How much weight to give a growing number of potential red flags, even as U.S. economic growth continues to push down unemployment and create new jobs? "We are at a point now where we really need to be especially data dependent," Richard Clarida, the newly appointed vice chair of the Federal Reserve, said in a CNBC interview. "I think certainly where the economy is today, and…
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Report: Russia Has Access to UK Visa Processing

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Investigative group Bellingcat and Russian website The Insider are suggesting that Russian intelligence has infiltrated the computer infrastructure of a company that processes British visa applications. The investigation, published Friday, aims to show how two suspected Russian military intelligence agents, who have been charged with poisoning a former Russian spy in the English city of Salisbury, may have obtained British visas. The Insider and Bellingcat said they interviewed the former chief technical officer of a company that processes visa applications for several consulates in Moscow, including that of Britain. The man, who fled Russia last year and applied for asylum in the United States, said he had been coerced to work with agents of the main Russian intelligence agency FSB, who revealed to him that they had access to the…
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South Africa Cannabis Ruling Leads to Pot-Themed Products

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Now that South Africa's highest court has relaxed the nation's laws on marijuana, local entrepreneurs are trying to cash in on the popular herb. Among the latest entries to the market: several highly popular cannabis-laced alcohol products, which deliver the unique taste, though without the signature high. Marijuana activists say this could just be the beginning and that the famous plant could do much more for the national economy. VOA's Anita Powell reports from Johannesburg. ...
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