U.S. consumers have not turned out in force for the final shopping days before Christmas, suggesting that traditional retailers will just meet industry sales forecasts in a season marked by deep discounts and growing encroachment from online rivals led by Amazon.com Inc (AMZN.O).
Industry
Visa, MasterCard stop supporting bank cards in Crimea
The world's two largest credit and debit card companies, Visa Inc and MasterCard Inc, said on Friday they could no longer support bank cards being used in Crimea, following U.S. sanctions imposed earlier this month.
Putin orders vodka price cap as Russia's economic crisis escalates
Russian President Vladimir Putin ordered his government on Wednesday to rein in rising vodka prices, as he battles to preserve his popularity amid an aggravating economic crisis.
Oil edges above $60 as Libyan output slumps
Oil edged above $60 a barrel on Friday as unrest in Libya cut supplies, offsetting a growing supply glut in top consumer the United States and weak imports by Japan.
Dollar inches back vs. yen, euro as markets slowly get back into gear
The dollar edged up against the yen on Friday in light bargain-hunting following two sessions of losses, with some markets slowly getting into gear after the Christmas holiday.
Latest News
Apple Inc has pushed out its first-ever automated security update to Macintosh computers to help defend against newly identified bugs that security researchers have warned could enable hackers to gain remote control of machines.
British companies plan to cautiously relax their grip on pay in 2015, but rises will be limited by higher costs for holiday pay and workplace pensions, as well as weak productivity growth, the Confederation of British Industry said on Monday.
In the heart of western Europe, the Belgian-Dutch-German rust belt has been dealt another blow. Two car plants closed this month as companies sought cheaper labor elsewhere, the final chapter of a manufacturing boom that began when coal mines fuelling Europe's industrialization shut in the 1960s.
Shoppers filled up malls and department stores on the last weekend before Christmas, as the weather cooperated to help raise the prospect of a solid finish to a holiday season that has so far produced mixed results.
Investors have wrung their hands over the last several weeks over the effect of lower oil prices on the broader S&P 500, but the relationship between the two is actually starting to break down.
Clothing manufacturer American Apparel Inc (APP.A) has been approached by private equity firm Irving Place Capital for a possible takeover, The Wall Street Journal reported, citing sources.
Despite a disappointing Thanksgiving weekend, U.S. holiday sales may squeak by expectations if steeper and longer-running discounts lure enough shoppers.
An uneasy calm settled on Asian markets on Wednesday as a brewing financial crisis in Russia and the rout in oil prices sent investors scurrying for the cover of top-rated bonds.
The global economy is ending the year in a fragile state with factory activity shrinking in China, euro zone business growth remaining weak, and emerging market giant Russia in a spiraling currency crisis.
