BUSINESS HEADLINES

Audio By Carbonatix

Shoppers spend billions on Black Friday to snag holiday deals, despite wider economic uncertainty

NEW YORK (AP) — Despite wider economic uncertainty hovering above this year’s holiday season, shoppers turned out in big numbers for Black Friday — spending billions of dollars both in stores and online. Adobe Analytics, which tracks e-commerce, said U.S. consumers spent a record $11.8 billion online Friday, marking a 9.1% jump from last year. Consumers also spent a record $6.4 billion online on Thanksgiving Day, per Adobe. In-store traffic has continued to dwindle. Initial data from RetailNext, which measures real-time foot traffic in physical stores, found that in-store Black Friday traffic fell 3.6% from 2024 — but that’s notably better than a decline of 6.2% seen in the days leading up to Thanksgiving.

Consumers should do their research before giving in to Travel Tuesday temptation

NEW YORK (AP) — Chain stores have Black Friday. Online marketplaces have Cyber Monday. For local businesses, it’s Small Business Saturday. In the last 20 years, more segments of the retail industry have vied for their own piece of the holiday shopping season. The travel trade has firmly joined the trend with another post-Thanksgiving sales push: Travel Tuesday. On the same day as the nonprofit world’s Giving Tuesday, airlines, hotels, cruise ship companies, travel booking platforms and tour operators get in on the annual spirit to spend by promoting one-day deals. Consumer advocates say there are legitimate savings to be had but also chances to be misled by marketing that conveys a false sense of urgency.

Shoppers hit Black Friday sales with celebratory mood despite economic strain

NEW YORK (AP) — The economic picture hasn’t looked very rosy. Hiring has been sluggish. Consumers have been hit with soaring meat prices. Layoffs are rippling through companies. But despite those concerns, shoppers were hitting the stores in full strength on Black Friday. They were sipping champagne as they searched for discounts on the day that traditionally kicks off the holiday shopping season. Many retail executives have reported customers becoming more selective with their purchases while at the same time remaining willing to splash out for important occasions like the winter holidays.

Trump says Venezuelan airspace should be viewed as closed. Maduro government slams ‘colonial threat’

WEST PALM BEACH, Fla. (AP) — The Venezuelan government is accusing President Donald Trump of making a ”colonial threat” and seeking to undermine the South American country’s sovereignty. That charge comes after Trump’s social media post Saturday that the airspace “above and surrounding” Venezuela should be considered as “closed in its entirety.” His assertion raises more questions about the U.S. pressure on Venezuelan leader Nicolás Maduro. The Venezuelan Foreign Ministry says “such declarations constitute a hostile, unilateral and arbitrary act.” The Federal Aviation Administration’s jurisdiction is generally limited to the United States and its territories.

Airlines work to fix software glitch on A320 aircraft and some flights are disrupted

Airlines around the world canceled and delayed flights heading into the weekend to fix software on a widely used commercial plane after an analysis found computer code may have contributed to a sudden drop in the altitude of a JetBlue aircraft last month. Airbus says an analysis of the JetBlue incident revealed intense solar radiation may corrupt data critical to the functioning of flight controls on the A320 family of aircraft. In Japan, All Nippon Airways canceled 65 of its domestic flights. American Airlines expects some delays but is focused on limiting cancellations while placing overriding priority on safety. American Airlines expects to finish the fixes on Saturday.

What a federal ban on THC-infused drinks and snacks could mean for the hemp industry

MINNEAPOLIS (AP) — THC-infused drinks and snacks have soared in popularity as alcohol sales have declined in recent years. But the bill that ended the federal government shutdown this month includes a provision to ban THC products derived from hemp. The $24 billion industry is now scrambling to save itself before the ban takes effect a year from now. A loophole in the 2018 farm bill allowed products containing THC to spread across the country. That’s been a lifeline for some breweries that have turned to canning THC-infused beverages, but it’s also prompted concern about sales of intoxicating products at gas stations an convenience stores across the country.

US stocks rise for a fifth straight day to close out a volatile month

Wall Street rose for a fifth straight day to put the wraps on a volatile month. The S&P 500 rose 0.5% in abbreviated trading Friday and closed out November with a slight gain. The Dow Jones Industrial Average rose 289 points, or 0.6%, and the Nasdaq gained 0.7%. Stocks swooned in mid-month as investors worried stocks boosted by the frenzy around artificial intelligence such as Nvidia had gotten too expensive. Nvidia lost 1.8% Friday and closed the month with a double-digit loss. Stocks rallied over the past week on hopes for another Federal Reserve rate cut next month.

Armani fashion group appoints new board to guide company after designer’s death

ROME (AP) — Italy’s fashion house Armani has appointed a new board to guide the company following the death of its founder Giorgio Armani earlier this year. The board consists of eight members, including former Armani executive John Hooks and former Gucci CEO Marco Bizzarri. Other members include Chairman Pantaleo Dell’Orco and CEO Giuseppe Marsocci. Armani’s niece Silvana and nephew Andrea Camerana are also on the board. The group appointed Marsocci as CEO after Armani’s death in September. Dell’Orco said the board’s composition represents the best guarantee for continuing Armani’s legacy and values.

Fleet of UPS planes grounded after deadly crash expected to miss peak delivery season

UPS Airlines says a fleet of planes grounded after a deadly crash is expected to miss the peak holiday season due to inspections and possible repairs. An internal memo said Wednesday the airline predicts it will be several months before its McDonnell Douglas MD-11 fleet returns to service as it works to meet Federal Aviation Administration guidelines. The process was previously expected to take weeks. UPS intends to rely on contingency plans to deliver for customers throughout the peak season. Boeing took over as the manufacturer of MD-11s in 1997 and is working to help operators meet FAA requirements. An MD-11 plane crashed Nov. 4 in Louisville, Kentucky, killing 14 people.