Global Glance: Black Friday underway; Trump taps billionaire investor for commerce secretary

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Here are today’s top business headlines from across the nation and world:

Shoppers hunt for deals, hit the shops for entertainment

NEW YORK (AP) — Shoppers were on the hunt for deals and were shopping for entertainment Friday as stores opened for what is still one of the busiest days of the year, even as the start of the holiday season edges ever earlier. Black Friday, the day after Thanksgiving, used to launch the holiday season, but the competition to grab customers first is keen. Stores like Macy’s, Walmart, Target and more were open Thursday evening in what they hope will be a new holiday tradition as they try to fight off competition from Amazon. Read more

Trump taps billionaire investor Ross for commerce secretary

WASHINGTON (AP) — Wilbur Ross, the billionaire investor considered the “king of bankruptcy” for buying beaten-down companies with the potential to deliver profits, is President-elect Donald Trump’s choice for commerce secretary, a senior transition official said. The official isn’t authorized to publicly discuss the matter and requested anonymity. Reputed by Forbes to be worth nearly $3 billion, Ross would represent the interests of U.S. businesses domestically and abroad as the head at Commerce. Read more

EU gets tough: Bloc tells UK Brexit is a lose-lose situation

LONDON (AP) — Since Britain voted to leave the European Union, U.K. officials have had one message: Brexit means Brexit. Now they have EU leaders’ reply: And it’s going to hurt. The prime minister of Malta, whose country is about to assume the EU presidency, is the latest leader to dash Britain’s hopes of an easy divorce, signaling that the 27 other nations will drive a hard bargain. Read more

Trump’s stock in oil pipeline company raises concern

WASHINGTON (AP) — President-elect Donald Trump holds stock in the company building the disputed Dakota Access oil pipeline, and pipeline opponents warn that Trump’s investments could affect any decision he makes on the $3.8 billion project as president. While Trump’s stake in the pipeline company is modest compared with his other assets, ethics experts say it’s among dozens of potential conflicts that could be resolved by placing his investments in a blind trust, a step Trump has resisted. Read more

A look at 4 trends for the 2016 holiday shopping season

NEW YORK (AP) — As the 2016 holiday shopping season kicks off, the trends to watch for include some that are a bit wacky. This year’s “it” toy: Hatchimals. When a child strokes the egg, it starts to hatch into a stuffed bird-like creature. The child’s interaction with the pet trains it to play games and repeat words. Read more

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