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.
Industry
Russian ruble strengthens in thin trade
Russia's rouble strengthened on Thursday as exporters sold foreign currency in response to government pressure and to meet tax payments, but trading volumes were thin as many Western markets were closed for the Christmas Day holidays.
China's bankers enjoy first pay hike since global financial crisis
Chinese investment banks have awarded pay rises to their staff for the first time since the 2008 global financial crisis, buoyed by a surge in China-related deals, but salaries and bonuses still trail far behind those paid by Western banks.
U.S. retailers likely to just meet holiday sales forecasts: experts
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).
Apple pushes first ever automated security update to Mac users
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.
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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.
Oil fell to just above $59 a barrel for the first time since May 2009 on Tuesday, extending a six-month selloff as slowing Chinese factory activity and weakening emerging-market currencies added to concerns about demand.
Activity in China's factory sector contracted in December for the first time in seven months, the latest in a string of weak economic indicators that will intensify calls for more stimulus measures to head off a hard landing.
Rio Tinto and BHP Billiton are amassing vast copper holdings in a push to capture a greater chunk of the $140 billion world market, apparently aiming to squeeze out high-cost producers just as they did in the global iron ore business.
Global shares prices came under pressure on Monday as oil prices briefly sank to fresh 5-1/2 year lows in choppy trade, doing little to allay concerns that some energy producers and exporters could find themselves in dire straits as revenues slump.
