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Cyber&nbsp;Monday&nbsp;sales&nbsp;were on course to bring in a record $9.2&nbsp;billion, according to evening estimates, building on a bumper <a href="https://www.wionews.com/photos/between-black-friday-and-cyber-monday-pope-condemns-virus-of-consumerism-265592">Black Friday</a> weekend for&nbsp;US&nbsp;retailers driven by earlier-than-usual promotions and free shipping.

Shoppers have already had nearly a month of offers and deals as retailers look to draw out their vital holiday season, which is six days shorter this year due to a late Thanksgiving.

Adobe Analytics predicted that $72.1&nbsp;billion&nbsp;was spent online in the month ending December 1, and&nbsp;<a href="https://www.wionews.com/business-economy/cyber-monday-on-track-for-record-us-online-sales-estimate-265685">Cyber&nbsp;Monday</a>&nbsp;now traditionally the&nbsp;US&nbsp;economy's biggest internet shopping day had logged a 16.9 per cent&nbsp;jump in&nbsp;sales&nbsp;over the year prior as of 7 pm&nbsp;ET.

<a href="https://www.wionews.com/world/venezuela-designers-turn-to-piracy-after-adobe-announces-it-will-cut-service-254691">Adobe</a>, which measures transactions from 80 of the biggest 100&nbsp;US&nbsp;retailers, said it marked down its prior $9.4&nbsp;billion&nbsp;forecast slightly as more data came in.

<a href="https://www.wionews.com/science-tech/amazon-violates-laws-banning-sex-discriminationsued-by-transgender-woman-and-husband-18814">Amazon.com</a> Inc and rivals such as Target Corp and Walmart Inc were&nbsp;poised&nbsp;to benefit from the event, having beefed up delivery services to fulfill online orders more quickly. In-store pickup of online orders has become smoother, too, said Carol Spieckerman, president at consultancy Spieckerman Retail.

"At the end of the day,&nbsp;Cyber&nbsp;Monday&nbsp;is just Black Friday revisited so the momentum, and the deals, really started last week," Spieckerman said.

Adobe also said $3&nbsp;billion&nbsp;of the estimated&nbsp;sales&nbsp;would be from smartphones, a new&nbsp;US&nbsp;record.

Large companies did well in this channel, outpacing small businesses due to investment in mobile apps and other technology, as well as to larger product and deals selections, said Taylor Schreiner, director of Adobe Digital Insights.

"The big companies are still getting disproportionate growth versus the small ones," he said.

The event was not all smooth sailing for the world's biggest online retailer, Amazon. Protesters, who have described the poor treatment of warehouse workers and rising climate emissions from the company's push for speedier deliveries, marched outside CEO Jeff Bezos' Fifth Avenue penthouse in New York City on&nbsp;Monday. "We're humans, not robots," read one sign.

Amazon spokeswoman Kristen Kish said unions and groups&nbsp;funded by competitors were "conjuring misinformation" about Amazon, which had industry-leading pay and benefits. The company aims to be carbon neutral by 2040.

Activists also tried to blockade a shopping mall in Paris, denouncing the spread of Black Friday to European shores. The day's shopping in the United States still paled in comparison to Alibaba Group Holding Ltd's "Singles Day" last month, when the Chinese e-commerce giant raked in $38.4&nbsp;billion&nbsp;in&nbsp;sales.

The&nbsp;US&nbsp;National Retail Federation estimates nearly 69 million Americans will scour the web on&nbsp;Monday&nbsp;for deals on everything from mobile phones to kitchenware, with Adobe estimating the biggest discounts on televisions and computers.

Top&nbsp;sellers included toys from the film "Frozen 2," LOL surprise dolls and Nintendo Co Ltd's Switch games console, Adobe said.

"#CyberMonday2019 The day of the year 85 per cent&nbsp;of the&nbsp;US&nbsp;population pretends to actually be working," tweeted Erika Mayor, a user in Miami.

Cyber Monday sales were on course to bring in a record $9.2 billion, according to evening estimates, building on a bumper Black Friday weekend for US retailers driven by earlier-than-usual promotions and free shipping.

Cyber Monday sales were on course to bring in a record $9.2 billion, according to evening estimates, building on a bumper Black Friday weekend for US retailers driven by earlier-than-usual promotions and free shipping. Shoppers have already had nearly a month of offers and deals as retailers look to draw out their vital holiday season, which is six days shorter this year due to a late Thanksgiving. Adobe Analytics predicted that $72.1 billion was spent online in the month ending December 1, and Cyber Monday now traditionally the US economy's biggest internet shopping day had logged a 16.9 per cent jump in sales over the year prior as of 7 pm ET. Adobe, which measures transactions from 80 of the biggest 100 US retailers, said it marked down its prior $9.4 billion forecast slightly as more data came in. Amazon.com Inc and rivals such as Target Corp and Walmart Inc were poised to benefit from the event, having beefed up delivery services to fulfill online orders more quickly. In-store pickup of online orders has become smoother, too, said Carol Spieckerman, president at consultancy Spieckerman Retail. "At the end of the day, Cyber Monday is just Black Friday revisited so the momentum, and the deals, really started last week," Spieckerman said. Adobe also said $3 billion of the estimated sales would be from smartphones, a new US record. Large companies did well in this channel, outpacing small businesses due to investment in mobile apps and other technology, as well as to larger product and deals selections, said Taylor Schreiner, director of Adobe Digital Insights. "The big companies are still getting disproportionate growth versus the small ones," he said. The event was not all smooth sailing for the world's biggest online retailer, Amazon. Protesters, who have described the poor treatment of warehouse workers and rising climate emissions from the company's push for speedier deliveries, marched outside CEO Jeff Bezos' Fifth Avenue penthouse in New York City on Monday. "We're humans, not robots," read one sign. Amazon spokeswoman Kristen Kish said unions and groups funded by competitors were "conjuring misinformation" about Amazon, which had industry-leading pay and benefits. The company aims to be carbon neutral by 2040. Activists also tried to blockade a shopping mall in Paris, denouncing the spread of Black Friday to European shores. The day's shopping in the United States still paled in comparison to Alibaba Group Holding Ltd's "Singles Day" last month, when the Chinese e-commerce giant raked in $38.4 billion in sales. The US National Retail Federation estimates nearly 69 million Americans will scour the web on Monday for deals on everything from mobile phones to kitchenware, with Adobe estimating the biggest discounts on televisions and computers. Top sellers included toys from the film "Frozen 2," LOL surprise dolls and Nintendo Co Ltd's Switch games console, Adobe said. "#CyberMonday2019 The day of the year 85 per cent of the US population pretends to actually be working," tweeted Erika Mayor, a user in Miami.

US Cyber Monday sales to hit record $9.2 billion

<a href="https://www.wionews.com/business-economy/microsoft-granted-licence-to-export-mass-market-software-to-huawei-263823">Huawei&nbsp;Technologies Co Ltd</a>&nbsp;plans&nbsp;to&nbsp;shift&nbsp;its&nbsp;research&nbsp;center&nbsp;to&nbsp;Canada&nbsp;from&nbsp;the United States, Ren Zhengfei, the founder of the Chinese telecoms equipment maker, said in an interview with&nbsp;Canada's&nbsp;Globe&nbsp;and&nbsp;Mail.

Ren's remarks came as&nbsp;Reuters&nbsp;reported on Friday that the United States is weighing expanding its power to stop more foreign shipments of products with&nbsp;US&nbsp;technology to&nbsp;Huawei. The&nbsp;US&nbsp;Commerce Department in May placed&nbsp;Huawei&nbsp;on a trade blacklist, citing national security concerns.

Huawei's "center for&nbsp;research&nbsp;and development will be moved out of the United States. And that will be relocated to&nbsp;Canada," Ren told the&nbsp;Globe&nbsp;and&nbsp;Mail, adding that the company will also manufacture some mobile network equipment outside China.

The&nbsp;Huawei&nbsp;founder wants to build new factory capacity in Europe to make fifth-generation (<a href="https://www.wionews.com/business-%26-economy/oneplus-7-will-be-5g-ready-hopes-ceo-pete-lau-147876">5G</a>) networking equipment there, hoping to assuage fears stemming&nbsp;from&nbsp;US&nbsp;allegations that its product could be used by China for spying, the&nbsp;Globe&nbsp;and&nbsp;Mail&nbsp;reported.

<a href="https://www.wionews.com/world/huawei-plans-legal-challenge-to-latest-us-pressure-report-265269">Huawei</a>&nbsp;was not immediately available to comment on Ren's interview when contacted by&nbsp;Reuters. The firm has previously denied it is a risk to&nbsp;US&nbsp;national security.

The company spent $510 million on the operations of its&nbsp;US&nbsp;research&nbsp;arm last year, according to the&nbsp;Globe&nbsp;and&nbsp;Mail&nbsp;report, which added that it has now trimmed the arm's workforce by 600 to about 250.

Separately, Ren's daughter and&nbsp;Huawei&nbsp;Chief Financial Officer Meng Wanzhou, who was arrested by Canadian police on a&nbsp;US&nbsp;warrant late last year, is fighting extradition to the United States on charges of violating sanctions against Iran. She is currently out on bail.

<a href="https://www.wionews.com/world/chinese-envoy-to-canada-visits-detained-huawei-cfo-urges-ottawa-to-correct-mistake-265318">Huawei</a>&nbsp;has denied the charges and China has urged&nbsp;Canada&nbsp;to release her.

Commenting on her case, Ren said that it is an example of "obvious political interference&nbsp;from&nbsp;the&nbsp;US"

Huawei Technologies Co Ltd plans to shift its research center to Canada from the United States, Ren Zhengfei, the founder of the Chinese telecoms equipment maker, said in an interview with Canada's Globe and Mail.

Huawei Technologies Co Ltd plans to shift its research center to Canada from the United States, Ren Zhengfei, the founder of the Chinese telecoms equipment maker, said in an interview with Canada's Globe and Mail. Ren's remarks came as Reuters reported on Friday that the United States is weighing expanding its power to stop more foreign shipments of products with US technology to Huawei. The US Commerce Department in May placed Huawei on a trade blacklist, citing national security concerns. Huawei's "center for research and development will be moved out of the United States. And that will be relocated to Canada," Ren told the Globe and Mail, adding that the company will also manufacture some mobile network equipment outside China. The Huawei founder wants to build new factory capacity in Europe to make fifth-generation (5G) networking equipment there, hoping to assuage fears stemming from US allegations that its product could be used by China for spying, the Globe and Mail reported. Huawei was not immediately available to comment on Ren's interview when contacted by Reuters. The firm has previously denied it is a risk to US national security. The company spent $510 million on the operations of its US research arm last year, according to the Globe and Mail report, which added that it has now trimmed the arm's workforce by 600 to about 250. Separately, Ren's daughter and Huawei Chief Financial Officer Meng Wanzhou, who was arrested by Canadian police on a US warrant late last year, is fighting extradition to the United States on charges of violating sanctions against Iran. She is currently out on bail. Huawei has denied the charges and China has urged Canada to release her. Commenting on her case, Ren said that it is an example of "obvious political interference from the US"

Huawei plans to shift research center to Canada from US: Sources

&nbsp;The <a href="https://www.wionews.com/business-economy/wto-authorises-chinese-tariffs-on-36-billion-in-us-goods-in-anti-dumping-tiff-259385">World Trade Organization</a> on Monday rejected&nbsp;<a href="https://www.wionews.com/south-asia/fatf-european-union-offers-technical-assistance-to-pakistan-262766">European Union</a>&nbsp;claims&nbsp;that it no longer provides subsidies to planemaker&nbsp;Airbus, prompting the United States to say it could&nbsp;increase&nbsp;retaliatory&nbsp;tariffs&nbsp;on a wider range of&nbsp;European goods.

A new compliance report from the Geneva trade watchdog found that the&nbsp;Airbus&nbsp;A380 and A350 jetliners continue to be subsidised as a result of past&nbsp;European government loans.

US&nbsp;Trade Representative Robert Lighthizer said the decision affirmed that&nbsp;European subsidies to&nbsp;Airbus&nbsp;continued to harm the&nbsp;US&nbsp;aerospace industry, and strong action was required to eliminate such market-distorting subsidies.

It was the latest salvo in a record transatlantic trade dispute involving mutual&nbsp;claims&nbsp;of illegal aircraft subsidies, which comes to a head at a time of rising global trade tensions and has grabbed the attention of financial markets this year.

The United States was in October awarded the right to impose&nbsp;tariffs&nbsp;on $7.5 billion of annual&nbsp;EU&nbsp;imports in its case against&nbsp;Airbus. It placed partial&nbsp;tariffs&nbsp;on most&nbsp;Airbus&nbsp;jets and products from cheese to olives and single-malt whisky.

A decision on retaliation rights for the&nbsp;EU&nbsp;in a parallel case on aid for Boeing is due next year.

Officials on both sides have expressed support for a negotiated settlement, while accusing the other of failing to take the prospect of a negotiated solution seriously.

In Monday's finding, a three-person panel rejected&nbsp;EU&nbsp;claims&nbsp;that a recent decision by&nbsp;Airbus&nbsp;to stop producing the slow-selling A380 meant the giant airliner could no longer be seen as a threat to Boeing, whose competing 747 is also out of fashion.

While the&nbsp;WTO&nbsp;no longer faulted&nbsp;Airbus&nbsp;for causing lost sales to Boeing with the A380, which is no longer marketed, it ruled that the superjumbo would cause market-share damage to Boeing for as long as it is produced and delivered.

<a href="https://www.wionews.com/business-economy/ge-unit-orders-25-airbus-jets-including-12-rolls-powered-a330neo-260791">Airbus</a>&nbsp;plans to shut production in mid-2021.

The&nbsp;WTO&nbsp;appeared to strengthen findings against the A350, saying it had both cost sales and damaged Boeing's market-share prospects - a process called impedance - in the busier twin-engined long-haul market where Boeing offers its 787 Dreamliner.

A previous&nbsp;WTO&nbsp;ruling had focused only on lost sales.

The latest report put the world's largest corporate trade dispute squarely on the agenda for new&nbsp;EU&nbsp;Trade Commissioner Phil Hogan, who started his term on Sunday.

The Commission said the new findings contained serious legal errors and that it would consider its next steps, including a possible appeal, while seeking an accord with the United States.

USTR, which imposed&nbsp;tariffs&nbsp;of 10 per cent&nbsp;on large civil&nbsp;EU&nbsp;aircraft and 25 per cent&nbsp;on selected farm and other products in October, said it would look at raising tariff rates and subjecting additional&nbsp;EU&nbsp;products to the&nbsp;tariffs. It gave no immediate details on the size of the possible&nbsp;increases, or which products could be added to the current list.

As so often following the dozens of rulings in the 15-year-old trade case,&nbsp;Airbus&nbsp;and Boeing were left starkly at odds.

Boeing claimed a complete loss for its&nbsp;European rival&nbsp;Airbus, which it said continued to harm the&nbsp;US&nbsp;aerospace industry by receiving billions of&nbsp;euros in illegal aid.

Airbus&nbsp;said the&nbsp;WTO's decision to drop previous references to the A380 causing lost sales to Boeing meant the United States should slash its authorised&nbsp;tariffs&nbsp;by $2 billion to $5.5 billion.

The USTR rejected that argument, saying it saw no basis in the report to justify reducing&nbsp;US&nbsp;retaliatory&nbsp;tariffs.

US&nbsp;sources said only full compliance or a political settlement - which is widely seen as remote amid fragile economic ties - could legally cancel&nbsp;WTO&nbsp;approval for&nbsp;tariffs.

European executives warned against a "lose-lose" trade war.

Both sides can appeal the latest finding but doing so could place the&nbsp;WTO&nbsp;in uncertain legal territory, experts said.

The&nbsp;WTO&nbsp;Appellate Body will cease to function&nbsp;after&nbsp;December 10, due to&nbsp;US&nbsp;blocking of new appointments, leaving a tight deadline for a challenge to Monday's ruling.

Appeals launched&nbsp;after&nbsp;that risk falling into a legal void, and it is unclear if the body will be allowed to rule on appeals filed before then.

The World Trade Organization on Monday rejected European Union claims that it no longer provides subsidies to planemaker Airbus, prompting the United States to say it could increase retaliatory tariffs on a wider range of European goods.

The World Trade Organization on Monday rejected European Union claims that it no longer provides subsidies to planemaker Airbus, prompting the United States to say it could increase retaliatory tariffs on a wider range of European goods. A new compliance report from the Geneva trade watchdog found that the Airbus A380 and A350 jetliners continue to be subsidised as a result of past European government loans. US Trade Representative Robert Lighthizer said the decision affirmed that European subsidies to Airbus continued to harm the US aerospace industry, and strong action was required to eliminate such market-distorting subsidies. It was the latest salvo in a record transatlantic trade dispute involving mutual claims of illegal aircraft subsidies, which comes to a head at a time of rising global trade tensions and has grabbed the attention of financial markets this year. The United States was in October awarded the right to impose tariffs on $7.5 billion of annual EU imports in its case against Airbus. It placed partial tariffs on most Airbus jets and products from cheese to olives and single-malt whisky. A decision on retaliation rights for the EU in a parallel case on aid for Boeing is due next year. Officials on both sides have expressed support for a negotiated settlement, while accusing the other of failing to take the prospect of a negotiated solution seriously. In Monday's finding, a three-person panel rejected EU claims that a recent decision by Airbus to stop producing the slow-selling A380 meant the giant airliner could no longer be seen as a threat to Boeing, whose competing 747 is also out of fashion. While the WTO no longer faulted Airbus for causing lost sales to Boeing with the A380, which is no longer marketed, it ruled that the superjumbo would cause market-share damage to Boeing for as long as it is produced and delivered. Airbus plans to shut production in mid-2021. The WTO appeared to strengthen findings against the A350, saying it had both cost sales and damaged Boeing's market-share prospects - a process called impedance - in the busier twin-engined long-haul market where Boeing offers its 787 Dreamliner. A previous WTO ruling had focused only on lost sales. The latest report put the world's largest corporate trade dispute squarely on the agenda for new EU Trade Commissioner Phil Hogan, who started his term on Sunday. The Commission said the new findings contained serious legal errors and that it would consider its next steps, including a possible appeal, while seeking an accord with the United States. USTR, which imposed tariffs of 10 per cent on large civil EU aircraft and 25 per cent on selected farm and other products in October, said it would look at raising tariff rates and subjecting additional EU products to the tariffs. It gave no immediate details on the size of the possible increases, or which products could be added to the current list. As so often following the dozens of rulings in the 15-year-old trade case, Airbus and Boeing were left starkly at odds. Boeing claimed a complete loss for its European rival Airbus, which it said continued to harm the US aerospace industry by receiving billions of euros in illegal aid. Airbus said the WTO's decision to drop previous references to the A380 causing lost sales to Boeing meant the United States should slash its authorised tariffs by $2 billion to $5.5 billion. The USTR rejected that argument, saying it saw no basis in the report to justify reducing US retaliatory tariffs. US sources said only full compliance or a political settlement - which is widely seen as remote amid fragile economic ties - could legally cancel WTO approval for tariffs. European executives warned against a "lose-lose" trade war. Both sides can appeal the latest finding but doing so could place the WTO in uncertain legal territory, experts said. The WTO Appellate Body will cease to function after December 10, due to US blocking of new appointments, leaving a tight deadline for a challenge to Monday's ruling. Appeals launched after that risk falling into a legal void, and it is unclear if the body will be allowed to rule on appeals filed before then.

US may increase tariffs after World Trade Organisation rejects European union claims over Airbus

<a href="https://www.wionews.com/world/japan-ex-pm-nakasone-who-boosted-ties-with-us-dies-at-101-265192">Japan</a>&nbsp;is&nbsp;preparing&nbsp;an economic&nbsp;stimulus&nbsp;package&nbsp;worth $120&nbsp;billion&nbsp;to support fragile economic&nbsp;growth, two government officials with direct knowledge of the matter said on Tuesday, complicating government efforts to fix public finances.

The spending would be earmarked in a supplementary budget for this fiscal year to next March and an annual budget for the coming fiscal year from April. Both budgets will be compiled later this month, the sources told Reuters, declining to be identified because the&nbsp;package&nbsp;has not been finalised.

While the&nbsp;package&nbsp;would come to around 13 trillion yen (93.5&nbsp;billion&nbsp;pounds), that would rise to 25 trillion yen ($230&nbsp;billion) when private-sector and other spending are included.

However, the spending could strain the industrial world's heaviest public debt burden, which tops more than twice the size of&nbsp;Japan's $5 trillion economy.

And despite the headline size of the&nbsp;stimulus, actual spending would be smaller in the current fiscal year, and economists are not expecting much of a boost.

"We expect this fiscal year's extra budget to total around 3-4 trillion yen. We should not expect it to substantially push up the GDP&nbsp;growth rate," said Takuya Hoshino, senior economist at Dai-ichi Life Research Institute.

The 13 trillion yen includes more than 3 trillion yen from fiscal investment and loan programmes, as the heavily indebted government seeks to take advantage of low borrowing costs under the Bank of&nbsp;Japan's negative interest rate policy.

Direct government spending is expected to reach around 7-8 trillion yen, they said.

Sources of funding the big-spending remain unclear. A final decision on the&nbsp;package&nbsp;could be made as early as Thursday.

Japan is preparing an economic stimulus package worth $120 billion to support fragile economic growth, two government officials with direct knowledge of the matter said on Tuesday, complicating government efforts to fix public finances.

Japan is preparing an economic stimulus package worth $120 billion to support fragile economic growth, two government officials with direct knowledge of the matter said on Tuesday, complicating government efforts to fix public finances. The spending would be earmarked in a supplementary budget for this fiscal year to next March and an annual budget for the coming fiscal year from April. Both budgets will be compiled later this month, the sources told Reuters, declining to be identified because the package has not been finalised. While the package would come to around 13 trillion yen (93.5 billion pounds), that would rise to 25 trillion yen ($230 billion) when private-sector and other spending are included. However, the spending could strain the industrial world's heaviest public debt burden, which tops more than twice the size of Japan's $5 trillion economy. And despite the headline size of the stimulus, actual spending would be smaller in the current fiscal year, and economists are not expecting much of a boost. "We expect this fiscal year's extra budget to total around 3-4 trillion yen. We should not expect it to substantially push up the GDP growth rate," said Takuya Hoshino, senior economist at Dai-ichi Life Research Institute. The 13 trillion yen includes more than 3 trillion yen from fiscal investment and loan programmes, as the heavily indebted government seeks to take advantage of low borrowing costs under the Bank of Japan's negative interest rate policy. Direct government spending is expected to reach around 7-8 trillion yen, they said. Sources of funding the big-spending remain unclear. A final decision on the package could be made as early as Thursday.

Japan preparing $120 billion stimulus package as recession risks grow

A federal judge on Monday rejected<a href="https://www.wionews.com/science-tech/how-apple-disrupted-the-world-16525">&nbsp;Apple&nbsp;Inc's</a>&nbsp;bid to dismiss a proposed&nbsp;class-action&nbsp;lawsuit by customers who said it knew and concealed how the "butterfly"&nbsp;keyboards on its&nbsp;MacBook&nbsp;laptop computers were prone to failure.

US&nbsp;District Judge Edward Davila in San Jose, California said&nbsp;Apple&nbsp;must face claims that its troubleshooting program did not provide an "effective fix" for&nbsp;MacBook&nbsp;design defects, or fully compensate customers for their out-of-pocket expenses while seeking repairs.

Customers claimed that their<a href="https://www.wionews.com/business-economy/dont-fly-with-apples-old-macbook-pro-laptops-dgca-requests-passengers-245804">&nbsp;MacBook</a>,&nbsp;<a href="https://www.wionews.com/science-tech/apple-unveils-new-macbook-pro-with-touch-bar-hikes-price-8031/amp">MacBook&nbsp;Pro</a>, and&nbsp;<a href="https://www.wionews.com/world/hold-on-is-apple-going-to-lauch-new-ipads-this-month-36267">MacBook&nbsp;Air</a> laptop&nbsp;keyboards suffered from sticky keys, unresponsive keys, and keystrokes that failed to register when tiny amounts of dust or debris accumulated under or near keys.

They also said&nbsp;Apple's service program was inadequate because the Cupertino, California-based company often provided replacement&nbsp;keyboards that had the same problems.

The lawsuit covers purchasers of model year 2015 or later&nbsp;MacBook&nbsp;laptops, and model year 2016 or later&nbsp;MacBook&nbsp;Pros laptops. It seeks a variety of damages for violations of several states' consumer protection laws.

Apple&nbsp;did not immediately respond to requests for comment. Benjamin Johns, a lawyer for the plaintiffs, said he was pleased with the decision and looked forward to pursuing the case.

Last month,&nbsp;Apple&nbsp;introduced a&nbsp;MacBook&nbsp;Pro with a larger screen and new "Magic"&nbsp;keyboard&nbsp;with the "scissor" mechanism more commonly found in the industry. The hinged butterfly mechanism resembles a butterfly's wings.

Mac sales, including various&nbsp;MacBook&nbsp;models, accounted for about 10 per cent&nbsp;of&nbsp;Apple's $260.2 billion of net sales in its fiscal year&nbsp;ended September&nbsp;28.

The case is In re MacBook&nbsp;Keyboard&nbsp;Litigation, US&nbsp;District Court, Northern District of California, No. 18-02813.

A federal judge on Monday rejected Apple Inc's bid to dismiss a proposed class-action lawsuit by customers who said it knew and concealed how the "butterfly" keyboards on its MacBook laptop computers were prone to failure.

A federal judge on Monday rejected Apple Inc's bid to dismiss a proposed class-action lawsuit by customers who said it knew and concealed how the "butterfly" keyboards on its MacBook laptop computers were prone to failure. US District Judge Edward Davila in San Jose, California said Apple must face claims that its troubleshooting program did not provide an "effective fix" for MacBook design defects, or fully compensate customers for their out-of-pocket expenses while seeking repairs. Customers claimed that their MacBook, MacBook Pro, and MacBook Air laptop keyboards suffered from sticky keys, unresponsive keys, and keystrokes that failed to register when tiny amounts of dust or debris accumulated under or near keys. They also said Apple's service program was inadequate because the Cupertino, California-based company often provided replacement keyboards that had the same problems. The lawsuit covers purchasers of model year 2015 or later MacBook laptops, and model year 2016 or later MacBook Pros laptops. It seeks a variety of damages for violations of several states' consumer protection laws. Apple did not immediately respond to requests for comment. Benjamin Johns, a lawyer for the plaintiffs, said he was pleased with the decision and looked forward to pursuing the case. Last month, Apple introduced a MacBook Pro with a larger screen and new "Magic" keyboard with the "scissor" mechanism more commonly found in the industry. The hinged butterfly mechanism resembles a butterfly's wings. Mac sales, including various MacBook models, accounted for about 10 per cent of Apple's $260.2 billion of net sales in its fiscal year ended September 28. The case is In re MacBook Keyboard Litigation, US District Court, Northern District of California, No. 18-02813.

Apple fails to end MacBook 'butterfly' keyboard class action

<a href="https://www.wionews.com/world/twitter-tightens-bans-on-political-ads-and-causes-ahead-of-2020-us-election-262497">Twitter&nbsp;Inc</a>&nbsp;is updating its&nbsp;global&nbsp;privacy&nbsp;policy to give users more information about what data advertisers might receive and is launching a site to provide clarity on its data protection efforts, the company said on Monday.

The&nbsp;changes, which will take effect on January 1, 2020, will&nbsp;comply&nbsp;with the California Consumer&nbsp;Privacy&nbsp;Act (CCPA).

The California law requires large businesses to give consumers more transparency and control over their personal information, such as allowing them to request that their data be deleted and to opt-out of having their data sold to third parties.

Social media companies including <a href="https://www.wionews.com/world/facebook-instagram-down-in-large-parts-of-the-the-world-203174">Facebook Inc </a>and Alphabet Inc's&nbsp;<a href="https://www.wionews.com/business-economy/google-pay-to-offer-checking-accounts-through-citi-stanford-federal-261964">Google </a>have come under scrutiny on data&nbsp;privacy&nbsp;issues, fuelled by Facebook's Cambridge Analytica scandal in which personal data were harvested from millions of users without their consent.

Twitter&nbsp;also announced on Monday that it is moving the accounts of users outside of the United States and European Union which were previously contracted by&nbsp;Twitter&nbsp;International Company in Dublin, Ireland, to the San Francisco-based&nbsp;Twitter&nbsp;Inc.

The company said this move would allow it the flexibility to test different settings and controls with these users, such as additional opt-in or opt-out&nbsp;privacy&nbsp;preferences, that would likely be restricted by the <a href="https://www.wionews.com/videos/gdpr-eu-data-protection-regulation-comes-into-effect-139663">General Data otectPrion Regulation (GDPR)</a>, Europe's landmark digital&nbsp;privacy&nbsp;law.

"We want to be able to experiment without immediately running afoul of the GDPR provisions,"&nbsp;Twitter's data protection officer Damien Kieran told&nbsp;Reuters&nbsp;in a phone interview.

"The goal is to learn from those experiments and then to provide those same experiences to people all around the world," he said.

The company, which said it has upped its communications about data and security-related disclosures over the last two years, emphasized in a Monday blog post that it was working to upgrade systems and build&nbsp;privacy&nbsp;into new products.

In October,&nbsp;Twitter&nbsp;announced it had found that phone numbers and email addresses used for two-factor authentication may inadvertently have been used for advertising purposes.

Twitter's new&nbsp;privacy&nbsp;site, dubbed the 'Twitter&nbsp;Privacy&nbsp;Center' is part of the company's efforts to showcase its work on data protection and will also give users another route to access and download their data.

Twitter&nbsp;joins other internet companies who have recently staked out their positions ahead of CCPA coming into effect. Last month, Microsoft Corp&nbsp;said it would honor the law throughout the United States and Google told clients that it would let sites and apps using its advertising tools block personalized ads as part of its efforts to&nbsp;comply&nbsp;with CCPA.

Twitter Inc is updating its global privacy policy to give users more information about what data advertisers might receive and is launching a site to provide clarity on its data protection efforts, the company said on Monday.

Twitter Inc is updating its global privacy policy to give users more information about what data advertisers might receive and is launching a site to provide clarity on its data protection efforts, the company said on Monday. The changes, which will take effect on January 1, 2020, will comply with the California Consumer Privacy Act (CCPA). The California law requires large businesses to give consumers more transparency and control over their personal information, such as allowing them to request that their data be deleted and to opt-out of having their data sold to third parties. Social media companies including Facebook Inc and Alphabet Inc's Google have come under scrutiny on data privacy issues, fuelled by Facebook's Cambridge Analytica scandal in which personal data were harvested from millions of users without their consent. Twitter also announced on Monday that it is moving the accounts of users outside of the United States and European Union which were previously contracted by Twitter International Company in Dublin, Ireland, to the San Francisco-based Twitter Inc. The company said this move would allow it the flexibility to test different settings and controls with these users, such as additional opt-in or opt-out privacy preferences, that would likely be restricted by the General Data otectPrion Regulation (GDPR), Europe's landmark digital privacy law. "We want to be able to experiment without immediately running afoul of the GDPR provisions," Twitter's data protection officer Damien Kieran told Reuters in a phone interview. "The goal is to learn from those experiments and then to provide those same experiences to people all around the world," he said. The company, which said it has upped its communications about data and security-related disclosures over the last two years, emphasized in a Monday blog post that it was working to upgrade systems and build privacy into new products. In October, Twitter announced it had found that phone numbers and email addresses used for two-factor authentication may inadvertently have been used for advertising purposes. Twitter's new privacy site, dubbed the 'Twitter Privacy Center' is part of the company's efforts to showcase its work on data protection and will also give users another route to access and download their data. Twitter joins other internet companies who have recently staked out their positions ahead of CCPA coming into effect. Last month, Microsoft Corp said it would honor the law throughout the United States and Google told clients that it would let sites and apps using its advertising tools block personalized ads as part of its efforts to comply with CCPA.

Twitter makes global changes to comply with privacy laws

Global equities mostly retreated Tuesday after US President Donald Trump warned there was no deadline for doing a trade deal with China.

The announcement added to trade uncertainty already stoked by the United States reimposing tariffs on Argentina and Brazil, threatening France with steep levies -- and warning China of possible new measures if ongoing talks fall through.

Trump, in Britain for a NATO summit, warned that efforts to resolve a trade dispute could wait until after next November's US election.

"I have no deadline," Trump told reporters upon his arrival.

"In some ways I like the idea of waiting until after the election for the China deal."

Trump's trade war with China and on-again-off-again attempts to reach a deal have destabilised markets and stoked geopolitical tensions.

'Another turn lower'&nbsp;

"The chances of a deal by December 15 just took another turn lower," said Markets.com analyst Neil Wilson.

"After weeks of making generally positive noises on a deal being very close, there is a real sense now that a deal is not so very near at all and markets need to reprice," Wilson added.

As recently as last week Trump boasted that he was in the "final throes" of negotiating "one of the most important deals in trade ever".

But Washington has since courted Chinese anger by expressing support for Hong Kong protesters.

Optimism that Beijing and Washington will eventually hammer out a partial agreement as part of a wider deal had supported equities for weeks, helping Wall Street to set numerous records.

Wine and cheese&nbsp;

But investor sentiment was dealt a blow on Monday when Trump said he would reinstate tariffs on steel and aluminium from Argentina and Brazil whom he accused of manipulating their currencies and hurting US farmers.

Later, officials warned they would also hit France with up to 100 per cent levies on $2.4 billion in goods, saying a French digital tax was discriminatory against US tech firms such as Google, Apple and Amazon.

Sparkling wine, yoghurt and Roquefort cheese could be affected as soon as next month, while US Trade Representative Robert Lighthizer warned his office was also considering similar moves against Austria, Italy, and Turkey.

On Tuesday, France vowed a "strong" response to any tariffs.

Oil prices were firmer ahead of a key meeting of OPEC and other major producers, which is expected to see them maintain output cuts into June, with speculation they could go on until the end of 2020.

Key figures around 1645 GMT&nbsp;

London - FTSE 100: DOWN 1.8 percent at 7,158.76 points (close)

Frankfurt - DAX 30: UP 0.2 percent at 12,989.29 (close)

Paris - CAC 40: DOWN 1.0 percent at 5,727.22 (close)

EURO STOXX 50: DOWN 0.4 percent at 3,610.99

New York - Dow: DOWN 1.4 percent at 27,392.08

Tokyo - Nikkei 225: DOWN 0.6 percent at 23,379.81 (close)

Hong Kong - Hang Seng: DOWN 0.2 percent at 26,391.30 (close)

Shanghai - Composite: UP 0.3 percent at 2,884.70 (close)

Euro/dollar: UP at $1.1085 from $1.1078 at 2145 GMT

Pound/dollar: UP at $1.3000 from $1.2939

Euro/pound: DOWN at 85.25 pence from 85.63

Dollar/yen: DOWN at 108.56 from 108.98 yen

Brent North Sea crude: UP 0.2 percent at $61.03 per barrel

West Texas Intermediate: UP 0.2 percent at $56.08&nbsp;

Global equities mostly retreated Tuesday after US President Donald Trump warned there was no deadline for doing a trade deal with China. The announcement added to trade uncertainty already stoked by the United States reimposing tariffs on Argentina and Brazil, threatening France with steep levies -- and warning China of possible new measures if ongoing talks fall through.

Global equities mostly retreated Tuesday after US President Donald Trump warned there was no deadline for doing a trade deal with China. The announcement added to trade uncertainty already stoked by the United States reimposing tariffs on Argentina and Brazil, threatening France with steep levies -- and warning China of possible new measures if ongoing talks fall through. Trump, in Britain for a NATO summit, warned that efforts to resolve a trade dispute could wait until after next November's US election. "I have no deadline," Trump told reporters upon his arrival. "In some ways I like the idea of waiting until after the election for the China deal." Trump's trade war with China and on-again-off-again attempts to reach a deal have destabilised markets and stoked geopolitical tensions. 'Another turn lower' "The chances of a deal by December 15 just took another turn lower," said Markets.com analyst Neil Wilson. "After weeks of making generally positive noises on a deal being very close, there is a real sense now that a deal is not so very near at all and markets need to reprice," Wilson added. As recently as last week Trump boasted that he was in the "final throes" of negotiating "one of the most important deals in trade ever". But Washington has since courted Chinese anger by expressing support for Hong Kong protesters. Optimism that Beijing and Washington will eventually hammer out a partial agreement as part of a wider deal had supported equities for weeks, helping Wall Street to set numerous records. Wine and cheese But investor sentiment was dealt a blow on Monday when Trump said he would reinstate tariffs on steel and aluminium from Argentina and Brazil whom he accused of manipulating their currencies and hurting US farmers. Later, officials warned they would also hit France with up to 100 per cent levies on $2.4 billion in goods, saying a French digital tax was discriminatory against US tech firms such as Google, Apple and Amazon. Sparkling wine, yoghurt and Roquefort cheese could be affected as soon as next month, while US Trade Representative Robert Lighthizer warned his office was also considering similar moves against Austria, Italy, and Turkey. On Tuesday, France vowed a "strong" response to any tariffs. Oil prices were firmer ahead of a key meeting of OPEC and other major producers, which is expected to see them maintain output cuts into June, with speculation they could go on until the end of 2020. Key figures around 1645 GMT London - FTSE 100: DOWN 1.8 percent at 7,158.76 points (close) Frankfurt - DAX 30: UP 0.2 percent at 12,989.29 (close) Paris - CAC 40: DOWN 1.0 percent at 5,727.22 (close) EURO STOXX 50: DOWN 0.4 percent at 3,610.99 New York - Dow: DOWN 1.4 percent at 27,392.08 Tokyo - Nikkei 225: DOWN 0.6 percent at 23,379.81 (close) Hong Kong - Hang Seng: DOWN 0.2 percent at 26,391.30 (close) Shanghai - Composite: UP 0.3 percent at 2,884.70 (close) Euro/dollar: UP at $1.1085 from $1.1078 at 2145 GMT Pound/dollar: UP at $1.3000 from $1.2939 Euro/pound: DOWN at 85.25 pence from 85.63 Dollar/yen: DOWN at 108.56 from 108.98 yen Brent North Sea crude: UP 0.2 percent at $61.03 per barrel West Texas Intermediate: UP 0.2 percent at $56.08

Global stocks rattled after Donald Trump says no 'deadline' on US-China trade deal

Indian shares tracked Asian markets lower on Tuesday, amid weakness in metal stocks, after US&nbsp;President <a href="https://www.wionews.com/world/effective-immediately-us-to-restore-steel-aluminum-tariffs-on-brazil-argentina-trump-265754">Donald Trump's move</a> to impose tariffs on Brazil and Argentina stoked fresh concerns about global trade.

The NSE Nifty 50 index fell 0.2 per cnet&nbsp;to 12,021.50 and the S&amp;P BSE&nbsp;Sensex&nbsp;declined 0.18 per cent&nbsp;to 40,720.73 by 0354 GMT.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.45 per cent.

Trump on Monday said he would impose tariffs on steel and aluminium imports from Brazil and Argentina, attacking what he saw as both countries' "massive devaluation of their currencies."

Meanwhile, investors back home were hopeful of a sixth rate cut by the Reserve Bank of India (RBI) this year, after a Reuters poll last week said the bank may cut rates by 25 basis points at its policy meeting later this week.

The expectations for a rate-cut comes as India's economic growth slowed to a six-year low at 4.5 per cent&nbsp;for the July-September period.

Metal stocks were lower as most industrial metal prices came under pressure due to Trump's tariffs move. The Nifty metals index fell 2.04 per cent.

Steelmakers Tata Steel and JSW Steel were among the top losers on the Nifty, dropping about 1.45 per cent&nbsp;each, while Britannia Industries gained about 1.42 per cent.

Indian shares tracked Asian markets lower on Tuesday, amid weakness in metal stocks, after US President Donald Trump's move to impose tariffs on Brazil and Argentina stoked fresh concerns about global trade.

Indian shares tracked Asian markets lower on Tuesday, amid weakness in metal stocks, after US President Donald Trump's move to impose tariffs on Brazil and Argentina stoked fresh concerns about global trade. The NSE Nifty 50 index fell 0.2 per cnet to 12,021.50 and the S&P BSE Sensex declined 0.18 per cent to 40,720.73 by 0354 GMT. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.45 per cent. Trump on Monday said he would impose tariffs on steel and aluminium imports from Brazil and Argentina, attacking what he saw as both countries' "massive devaluation of their currencies." Meanwhile, investors back home were hopeful of a sixth rate cut by the Reserve Bank of India (RBI) this year, after a Reuters poll last week said the bank may cut rates by 25 basis points at its policy meeting later this week. The expectations for a rate-cut comes as India's economic growth slowed to a six-year low at 4.5 per cent for the July-September period. Metal stocks were lower as most industrial metal prices came under pressure due to Trump's tariffs move. The Nifty metals index fell 2.04 per cent. Steelmakers Tata Steel and JSW Steel were among the top losers on the Nifty, dropping about 1.45 per cent each, while Britannia Industries gained about 1.42 per cent.

Nifty, Sensex fall on global trade worries; metals top drag

<a href="https://www.wionews.com/business-economy/oil-prices-jump-to-61-over-opec-supply-cut-reports-265782">Oil prices</a> gained on Tuesday, as hopes rose for OPEC and its allies to agree deeper output cuts when they meet this week, although gains were limited, amid some analysts' skepticism over the achievement of further reductions.

Brent futures rose 17 cents, or 0.3 per cent, to $61.09 a barrel by 0516 GMT, after having gained 0.7 per cent&nbsp;on Monday.

US&nbsp;West Texas Intermediate crude was up 25 cents, or 0.5 per cent, at $56.21 a barrel. The contract rose by 1.4 per cent&nbsp;on Monday.

The Organization of the Petroleum Exporting Countries (<a href="https://www.wionews.com/business-economy/oil-prices-tumble-ahead-of-opec-meeting-global-stocks-fall-265363">OPEC</a>) and its allies, known as OPEC+, are discussing a plan to increase an existing supply cut of 1.2 million barrels per day (BPD) by a further 400,000 BPD and extend the pact until June, two sources familiar with the matter said.

Saudi Arabia is pushing the plan to deliver a positive surprise to the market before the initial public offering (IPO) of state-owned Saudi Aramco, the sources said.

"We believe the global oil supply-demand balance requires an extension of the current OPEC+ cuts," Goldman Sachs said in a research note.

The factors behind this view included a large increase in production from legacy non-OPEC projects and a still uncertain outlook for demand growth, it added.

The investment bank said it expected Brent to trade around $60 a barrel in 2020, "absent new growth or geopolitical shocks".

OPEC ministers will meet in Vienna on Thursday and the wider OPEC+ group will gather on Friday.

"(The) oil price is little moved today, suggesting that traders are skeptical about the additional 400,000 BPD cut on top of the extension of (the) current production cut agreement," said Margaret Yang, market analyst at CMC Markets in Singapore.

Concerns about the inability of the United States and China, the world's two biggest oil users, to reach a preliminary deal to resolve their 17-month trade dispute also weighed on oil prices, along with discouraging US&nbsp;economic data.

A senior adviser to <a href="https://www.wionews.com/americas/china-loves-ripping-off-america-says-us-president-donald-trump-218218">President Donald Trump</a> said a US-China trade deal was still possible before the end of the year, adding that the first phase of the agreement was being put to paper, although the talks have dragged on for weeks.

While OPEC may cut output,&nbsp;US&nbsp;producers have been only too happy to meet any market shortfalls, with production set successive records. Growth into 2020, though, may range between 100,000 BPD and 1 million BPD.

US&nbsp;crude inventories are expected to have declined last week, which may support prices, with analysts in a preliminary Reuters poll suggesting a contraction of 1.8 million barrels.&nbsp;

In a sign of buying interest for oil, fund managers increased net long positions in US&nbsp;crude futures and options in the week to November&nbsp;26, the US&nbsp;Commodities Futures Trading Commission said.

Oil prices gained on Tuesday, as hopes rose for OPEC and its allies to agree deeper output cuts when they meet this week, although gains were limited, amid some analysts' skepticism over the achievement of further reductions.

Oil prices gained on Tuesday, as hopes rose for OPEC and its allies to agree deeper output cuts when they meet this week, although gains were limited, amid some analysts' skepticism over the achievement of further reductions. Brent futures rose 17 cents, or 0.3 per cent, to $61.09 a barrel by 0516 GMT, after having gained 0.7 per cent on Monday. US West Texas Intermediate crude was up 25 cents, or 0.5 per cent, at $56.21 a barrel. The contract rose by 1.4 per cent on Monday. The Organization of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, are discussing a plan to increase an existing supply cut of 1.2 million barrels per day (BPD) by a further 400,000 BPD and extend the pact until June, two sources familiar with the matter said. Saudi Arabia is pushing the plan to deliver a positive surprise to the market before the initial public offering (IPO) of state-owned Saudi Aramco, the sources said. "We believe the global oil supply-demand balance requires an extension of the current OPEC+ cuts," Goldman Sachs said in a research note. The factors behind this view included a large increase in production from legacy non-OPEC projects and a still uncertain outlook for demand growth, it added. The investment bank said it expected Brent to trade around $60 a barrel in 2020, "absent new growth or geopolitical shocks". OPEC ministers will meet in Vienna on Thursday and the wider OPEC+ group will gather on Friday. "(The) oil price is little moved today, suggesting that traders are skeptical about the additional 400,000 BPD cut on top of the extension of (the) current production cut agreement," said Margaret Yang, market analyst at CMC Markets in Singapore. Concerns about the inability of the United States and China, the world's two biggest oil users, to reach a preliminary deal to resolve their 17-month trade dispute also weighed on oil prices, along with discouraging US economic data. A senior adviser to President Donald Trump said a US-China trade deal was still possible before the end of the year, adding that the first phase of the agreement was being put to paper, although the talks have dragged on for weeks. While OPEC may cut output, US producers have been only too happy to meet any market shortfalls, with production set successive records. Growth into 2020, though, may range between 100,000 BPD and 1 million BPD. US crude inventories are expected to have declined last week, which may support prices, with analysts in a preliminary Reuters poll suggesting a contraction of 1.8 million barrels. In a sign of buying interest for oil, fund managers increased net long positions in US crude futures and options in the week to November 26, the US Commodities Futures Trading Commission said.

Oil prices rise as Saudi Arabia pushes for further supply cuts

US online sales are set to hit a new record on this week's <a href="https://www.wionews.com/photos/between-black-friday-and-cyber-monday-pope-condemns-virus-of-consumerism-265592#excesses-of-con-265585">"Cyber&nbsp;Monday,"</a> Adobe Analytics said, as e-commerce outlets gear up to lure shoppers in the opening days of the holiday season.

Internet purchases are expected to reach $9.4 billion, a jump of nearly 19 per cent over last year's record-setting $7.9 billion take, according to a Sunday estimate from the company, which measures transactions from 80 of the 100 largest US online retailers.

US merchants have long viewed the days after the Thursday Thanksgiving holiday as a prime time to part shoppers from their money, particularly during the "Black Friday" sales following the holiday.

This year's expected record-setting shopping comes as Price Waterhouse Cooper found for the first time that a majority of people surveyed said they would rather shop online than in a brick-and-mortar store.

Shoppers spent $7.4 billion online on Friday, according to Adobe. Some 40 per cent of these purchases were made using smartphones. On Thanksgiving Day, US consumers spent $4.2 billion online.

Online sales on "Small Business Saturday" amounted to $3.6 billion, up 18 per cent over last year.

This increase was "fueled by strong gains from both large and small retailers alike," said Vivek Pandya, lead analyst at Adobe.

"The weekend between Black Friday and&nbsp;Cyber&nbsp;Monday&nbsp;is emerging as a truly lucrative period for online commerce," he added.

The hottest toys included L.O.L. Surprise dolls and items linked to the Disney blockbuster movie <a href="https://www.wionews.com/entertainment/frozen-2-review-elsa-and-anna-grow-up-and-take-charge-of-things-263883">"Frozen 2."</a> In the video game category, the top sellers were FIFA 20, Madden 20 and Nintendo Switch.

The most popular electronics were <a href="https://www.wionews.com/world/apple-taking-a-deeper-look-at-map-policies-after-calling-crimea-part-of-russia-265344">Apple</a> laptops, AirPods and Samsung TVs.

Adobe expects shoppers to spend a total of $143.8 billion during the entire holiday season.

According to a study released on Sunday by the International Council of Shopping Centers,&nbsp;an estimated 160 million people flocked to stores over the Thanksgiving weekend and spent on average just over $500 each.

That's up from 151 million shoppers last year.

US online sales are set to hit a new record on this week's "Cyber Monday," Adobe Analytics said, as e-commerce outlets gear up to lure shoppers in the opening days of the holiday season.

US online sales are set to hit a new record on this week's "Cyber Monday," Adobe Analytics said, as e-commerce outlets gear up to lure shoppers in the opening days of the holiday season. Internet purchases are expected to reach $9.4 billion, a jump of nearly 19 per cent over last year's record-setting $7.9 billion take, according to a Sunday estimate from the company, which measures transactions from 80 of the 100 largest US online retailers. US merchants have long viewed the days after the Thursday Thanksgiving holiday as a prime time to part shoppers from their money, particularly during the "Black Friday" sales following the holiday. This year's expected record-setting shopping comes as Price Waterhouse Cooper found for the first time that a majority of people surveyed said they would rather shop online than in a brick-and-mortar store. Shoppers spent $7.4 billion online on Friday, according to Adobe. Some 40 per cent of these purchases were made using smartphones. On Thanksgiving Day, US consumers spent $4.2 billion online. Online sales on "Small Business Saturday" amounted to $3.6 billion, up 18 per cent over last year. This increase was "fueled by strong gains from both large and small retailers alike," said Vivek Pandya, lead analyst at Adobe. "The weekend between Black Friday and Cyber Monday is emerging as a truly lucrative period for online commerce," he added. The hottest toys included L.O.L. Surprise dolls and items linked to the Disney blockbuster movie "Frozen 2." In the video game category, the top sellers were FIFA 20, Madden 20 and Nintendo Switch. The most popular electronics were Apple laptops, AirPods and Samsung TVs. Adobe expects shoppers to spend a total of $143.8 billion during the entire holiday season. According to a study released on Sunday by the International Council of Shopping Centers, an estimated 160 million people flocked to stores over the Thanksgiving weekend and spent on average just over $500 each. That's up from 151 million shoppers last year.

'Cyber Monday' on track for record US online sales: Estimate

China's factory activity showed surprising signs of improvement in November, with growth picking up to a near three-year high, a private sector survey showed on Monday, reinforcing upbeat government data released over the weekend.

But analysts remain concerned about deflationary risks in the sector, unconvinced that the worst is over yet for Chinese manufacturers. They say the sub-indexes of both surveys painted a picture of patchy recovery that will be difficult to sustain.

"The improvement last month was driven by different factors across the two manufacturing indices, making it hard to pinpoint the reason for the apparent uptick industrial activity," Julian Evans-Pritchard, Senior China Economist, wrote in a note on Monday.

"We doubt this marks the start of a decisive rebound inactivity," he said.

The Caixin/Markit manufacturing Purchasing Managers' Index (PMI) index rose to 51.8 in November from 51.7 in the previous month, marking the fastest expansion since December 2016, when it was 51.9.

The 50-mark separates expansion from contraction on a monthly basis.&nbsp;

Total new orders and factory production remained at buoyant levels in November, although they both eased slightly from record highs in the previous month, when they grew the fastest in over six years and nearly three years, respectively.

Larry Hu, Chief China economist at Macquarie Group, cautioned that the improvement could be hit as many one-off tailwinds wear off, such as better sentiment on trade deal and warm weather. Business confidence slipped and companies were reluctant to replenish their inventories, worried about the uncertain outlook for demand and the prolonged <a href="https://www.wionews.com/world/china-wants-us-tariffs-rolled-back-in-phase-one-trade-deal-report-265517">China-US&nbsp;trade war</a>, the survey showed.

China's official factory activity gauge on Saturday also surprised, returning to growth for the first time in seven months as domestic demand picked up in response to stimulus measures. But gains were slight and export orders sluggish.

The official survey focuses more on heavy industry than Caixin's, which is believed to include firms that are more export oriented. The two surveys also cover different geographical areas.

The Caixin survey showed sub-index for new export orders came in at 51, marginally below that in October, when it was the highest since February 2018.

Resilience in the sector led to a notable recovery in the labour market in the month, with companies adding workers for the first time in eight months.

However, profit margins remained under pressure, with input costs continuing to rise while output charges fell, suggesting some firms are still cutting their prices due to fierce competition for sales.

"While growth is likely to stabilise in November, the overall downtrend will continue in months ahead," Hu told Reuters.

The Chinese government has been trying to spur domestic demand for well over a year, largely through higher infrastructure spending and tax cuts, but the measures have been slow to gain traction.

Economic growth cooled to a near 30-year low of 6.0 per cent&nbsp;in the third quarter.

"I think the rebound in headline PMIs may indicate the possibility that <a href="https://www.wionews.com/business-%26-economy/china-economic-growth-slows-to-67-in-second-quarter-151991">China</a> will still be able to achieve above 6 per cent&nbsp;growth rate in 2019," said Betty Wang, senior China economist at ANZ.&nbsp;

"But the price subindices in the manufacturing PMI survey still declined, which suggests the deflationary risk in the manufacturing sector remains."

To help avert a sharper slowdown, China has brought forward 1 trillion yuan&nbsp;of the 2020 local government special bond quota to this year. The bonds are used largely to fund public works.

While China has cut some of its key lending rates in the last few months to reduce corporate financing costs, the reductions have been quite modest. Analysts believe policymakers are reluctant to unleash more aggressive stimulus out of concern it could heighten financial risks and add to a mountain of debt.

Washington and Beijing said in October they were working on a "phase one" trade agreement, but initial market hopes for a quick deal are fading after weeks of conflicting headlines.

A deal could slide into next year as Beijing presses for more extensive tariff rollbacks, and the Trump administration counters with heightened demands of its own.

Highlighting the tension, China's Global Times newspaper said on Sunday that Beijing is demanding Washington removes existing tariffs, not just planned tariffs, as part of the deal, citing sources with direct knowledge of the trade talks.

Additional US&nbsp;duties on Chinese exports are set to kick in on December&nbsp;15.

Months of protests in Chinese-ruled Hong Kong have also exacerbated tensions.

A trade deal has now stalled after the <a href="https://www.wionews.com/world/united-states-house-passes-hong-kong-democracy-act-256310">US&nbsp;passed legislation</a> backing protesters in Hong Kong, news website Axios reported on Sunday, citing a source close to Trump's negotiating team.

China's factory activity showed surprising signs of improvement in November, with growth picking up to a near three-year high, a private sector survey showed on Monday, reinforcing upbeat government data released over the weekend.

China's factory activity showed surprising signs of improvement in November, with growth picking up to a near three-year high, a private sector survey showed on Monday, reinforcing upbeat government data released over the weekend. But analysts remain concerned about deflationary risks in the sector, unconvinced that the worst is over yet for Chinese manufacturers. They say the sub-indexes of both surveys painted a picture of patchy recovery that will be difficult to sustain. "The improvement last month was driven by different factors across the two manufacturing indices, making it hard to pinpoint the reason for the apparent uptick industrial activity," Julian Evans-Pritchard, Senior China Economist, wrote in a note on Monday. "We doubt this marks the start of a decisive rebound inactivity," he said. The Caixin/Markit manufacturing Purchasing Managers' Index (PMI) index rose to 51.8 in November from 51.7 in the previous month, marking the fastest expansion since December 2016, when it was 51.9. The 50-mark separates expansion from contraction on a monthly basis. Total new orders and factory production remained at buoyant levels in November, although they both eased slightly from record highs in the previous month, when they grew the fastest in over six years and nearly three years, respectively. Larry Hu, Chief China economist at Macquarie Group, cautioned that the improvement could be hit as many one-off tailwinds wear off, such as better sentiment on trade deal and warm weather. Business confidence slipped and companies were reluctant to replenish their inventories, worried about the uncertain outlook for demand and the prolonged China-US trade war, the survey showed. China's official factory activity gauge on Saturday also surprised, returning to growth for the first time in seven months as domestic demand picked up in response to stimulus measures. But gains were slight and export orders sluggish. The official survey focuses more on heavy industry than Caixin's, which is believed to include firms that are more export oriented. The two surveys also cover different geographical areas. The Caixin survey showed sub-index for new export orders came in at 51, marginally below that in October, when it was the highest since February 2018. Resilience in the sector led to a notable recovery in the labour market in the month, with companies adding workers for the first time in eight months. However, profit margins remained under pressure, with input costs continuing to rise while output charges fell, suggesting some firms are still cutting their prices due to fierce competition for sales. "While growth is likely to stabilise in November, the overall downtrend will continue in months ahead," Hu told Reuters. The Chinese government has been trying to spur domestic demand for well over a year, largely through higher infrastructure spending and tax cuts, but the measures have been slow to gain traction. Economic growth cooled to a near 30-year low of 6.0 per cent in the third quarter. "I think the rebound in headline PMIs may indicate the possibility that China will still be able to achieve above 6 per cent growth rate in 2019," said Betty Wang, senior China economist at ANZ. "But the price subindices in the manufacturing PMI survey still declined, which suggests the deflationary risk in the manufacturing sector remains." To help avert a sharper slowdown, China has brought forward 1 trillion yuan of the 2020 local government special bond quota to this year. The bonds are used largely to fund public works. While China has cut some of its key lending rates in the last few months to reduce corporate financing costs, the reductions have been quite modest. Analysts believe policymakers are reluctant to unleash more aggressive stimulus out of concern it could heighten financial risks and add to a mountain of debt. Washington and Beijing said in October they were working on a "phase one" trade agreement, but initial market hopes for a quick deal are fading after weeks of conflicting headlines. A deal could slide into next year as Beijing presses for more extensive tariff rollbacks, and the Trump administration counters with heightened demands of its own. Highlighting the tension, China's Global Times newspaper said on Sunday that Beijing is demanding Washington removes existing tariffs, not just planned tariffs, as part of the deal, citing sources with direct knowledge of the trade talks. Additional US duties on Chinese exports are set to kick in on December 15. Months of protests in Chinese-ruled Hong Kong have also exacerbated tensions. A trade deal has now stalled after the US passed legislation backing protesters in Hong Kong, news website Axios reported on Sunday, citing a source close to Trump's negotiating team.

China's factory activity surprises with fastest expansion in three years

At 11.50 am on Monday, Sensex stood at 40,861.98 points, gaining 68.17&nbsp;(0.17 per cent), while Nifty clocked in 12,067.10 points,&nbsp;gaining 11.05&nbsp;(0.092 per cent).

MSCI's index of Asia-Pacific shares outside Japan gained 0.46 per cent&nbsp;after investors clung to hopes Beijing and Washington could reach a compromise in trade talks despite concerns of US&nbsp;support to the Honk Kong protests.

Investors at home seemed to have priced in the flagging economic growth, which slowed to 4.5 per cent&nbsp;for the July-September period.

Telecom stocks led gains among sectors as all three major operators in the country announced price hikes over the weekend after a court ruling forced them to cough up nearly $13 billion in dues and levies.

Bharti Airtel&nbsp;rose 8.03 per cent, Vodafone Idea jumped 16.06 per cent&nbsp;and Reliance Jio owner Reliance Industries&nbsp;advanced 3.57 per cent.

Vodafone was the biggest gainer among all stocks listed on the NSE, while Airtel gained most on the Nifty.

Among losers, Oil and Natural Gas Corp&nbsp;dropped 2.54 per cent&nbsp;and was the biggest drag on the indexes.

(With inputs from agencies)

At 11.50 am on Monday, Sensex stood at 40,861.98 points, gaining 68.17 (0.17 per cent), while Nifty clocked in 12,067.10 points, gaining 11.05 (0.092 per cent). MSCI's index of Asia-Pacific shares outside Japan gained 0.

At 11.50 am on Monday, Sensex stood at 40,861.98 points, gaining 68.17 (0.17 per cent), while Nifty clocked in 12,067.10 points, gaining 11.05 (0.092 per cent). MSCI's index of Asia-Pacific shares outside Japan gained 0.46 per cent after investors clung to hopes Beijing and Washington could reach a compromise in trade talks despite concerns of US support to the Honk Kong protests. Investors at home seemed to have priced in the flagging economic growth, which slowed to 4.5 per cent for the July-September period. Telecom stocks led gains among sectors as all three major operators in the country announced price hikes over the weekend after a court ruling forced them to cough up nearly $13 billion in dues and levies. Bharti Airtel rose 8.03 per cent, Vodafone Idea jumped 16.06 per cent and Reliance Jio owner Reliance Industries advanced 3.57 per cent. Vodafone was the biggest gainer among all stocks listed on the NSE, while Airtel gained most on the Nifty. Among losers, Oil and Natural Gas Corp dropped 2.54 per cent and was the biggest drag on the indexes. (With inputs from agencies)

Sensex rises by 68 points, Nifty gains 11

L&amp;T Technology Services said on Monday it has been selected by <a href="https://www.wionews.com/business-economy/ge-unit-orders-25-airbus-jets-including-12-rolls-powered-a330neo-260791">Airbus</a> India to manage its avionics software development, validation and verification, and data analytics.

"The win has been a direct result of LTTS` years of expertise in the aviation space and the company`s timely investment in cutting-edge technologies," it said in a statement without giving the timeframe or value of the contract.

The global pure-play engineering services company`s distinct advantage in the aerospace landscape includes ITAR (International Traffic in Arms) compliance and CEMILAC (The Centre for Military Airworthiness and Certification) certified state-of-the-art facilities, strong global customer base, robust lab and testing infrastructure, and strategic alliances with Fortune 500 companies.

"The new-age business opportunities in aviation sector call for a transformative approach including fresh ideas, elaborate evaluation of best-fit technology solution and capability to accelerate business growth through innovation," said Abhishek Sinha, Chief Operating Officer and member of the board at L&amp;T Technology Services.

"We are pleased that Airbus India has chosen LTTS to deliver on all these aspects. We look forward to co-developing innovations in the aviation space and ushering in newer benchmarks of industry excellence."

L&amp;T Technology Services Ltd is a listed subsidiary of Larsen &amp; Toubro Ltd focused on engineering and R&amp;D. It offers consultancy, design, development and testing services across the product and process development life cycle.

The company`s customer base includes 69 Fortune 500 companies and 51 of the world`s top ER&amp;D companies, across industrial products, medical devices, transportation, telecom and hi-tech, and the process industries.

It has over 16,700 employees spread across 17 global design centres, 28 global sales offices and 49 innovation labs.

L&T Technology Services said on Monday it has been selected by Airbus India to manage its avionics software development, validation and verification, and data analytics.

L&T Technology Services said on Monday it has been selected by Airbus India to manage its avionics software development, validation and verification, and data analytics. "The win has been a direct result of LTTS` years of expertise in the aviation space and the company`s timely investment in cutting-edge technologies," it said in a statement without giving the timeframe or value of the contract. The global pure-play engineering services company`s distinct advantage in the aerospace landscape includes ITAR (International Traffic in Arms) compliance and CEMILAC (The Centre for Military Airworthiness and Certification) certified state-of-the-art facilities, strong global customer base, robust lab and testing infrastructure, and strategic alliances with Fortune 500 companies. "The new-age business opportunities in aviation sector call for a transformative approach including fresh ideas, elaborate evaluation of best-fit technology solution and capability to accelerate business growth through innovation," said Abhishek Sinha, Chief Operating Officer and member of the board at L&T Technology Services. "We are pleased that Airbus India has chosen LTTS to deliver on all these aspects. We look forward to co-developing innovations in the aviation space and ushering in newer benchmarks of industry excellence." L&T Technology Services Ltd is a listed subsidiary of Larsen & Toubro Ltd focused on engineering and R&D. It offers consultancy, design, development and testing services across the product and process development life cycle. The company`s customer base includes 69 Fortune 500 companies and 51 of the world`s top ER&D companies, across industrial products, medical devices, transportation, telecom and hi-tech, and the process industries. It has over 16,700 employees spread across 17 global design centres, 28 global sales offices and 49 innovation labs.

L&T Technology Services wins avionics contract from Airbus

Bharti Airtel, Vodafone Idea, and Reliance Jio have hiked their tariffs by about 40 per cent after incurring huge losses over the last few weeks.

Bharti Airtel on Sunday hiked tariff rate in the range of 50 paise per day to Rs 2.85 per day, effective from December 3. 
 
The company announced new plans, which will affect the Airtel pre-paid customers who avail the plans provided by the company under its "unlimited" category, among others.&nbsp; 
 
"Our new mobile plans offer tremendous value to our customers and are backed by a superior network experience on Airtel's nationwide 4G network. Airtel will continue to make large investments in emerging technologies and digital platforms to deliver world-class experiences to our customers," said Shashwat Sharma, Chief Marketing Officer, Bharti Airtel. 
 
According to the release, Airtel's new plans will offer "exclusive benefits as part of the Airtel Thanks platform" to its customers.

Vodafone Idea also announced a similar plan, with plans capping at 2 days, 28 days, 84 days, and 365 days of validity and prices varying from Rs 19-2399.

Similarly, Jio will be introducing the new 'ALL-IN-ONE' plans with unlimited voice and data, effective from December 6. 
 
"Jio will be introducing new ALL-IN-ONE plans with unlimited voice and data. These plans will have a fair usage policy for calls to other mobile networks. 
The new plans will be effective from December 6, 2019," the statement informed. 
 
"Although the NEW ALL-IN-ONE plans will be priced up to 40 per cent higher, staying true to its promise of being customer first, Jio customers will get up to 300 per cent more benefits," the statement added. 
 
The company said that while remaining committed to the ultimate interest of the consumer, "Jio will take all necessary steps to help sustain the Indian telecommunications industry." 
 
The statement stressed that Jio will continue to work with the government on the consultation process for the revision of telecom tariffs and looks forward to participation from all other stakeholders.

The hike in tariffs comes after VIL, and Bharti Airtel posted record quarterly losses of ₹50,922 crore and ₹23,045 crore respectively due to a Supreme Court ruling on the adjusted gross revenue (AGR).

Both Vodafone Idea and Bharti Airtel also have an outstanding debt of over ₹1 lakh crore each.&nbsp;

The three telecommunication giants account for over 90 per cent market share of 1.18 billion mobile subscribers.

(With inputs from agencies)

Bharti Airtel, Vodafone Idea, and Reliance Jio have hiked their tariffs by about 40 per cent after incurring huge losses over the last few weeks. Bharti Airtel on Sunday hiked tariff rate in the range of 50 paise per day to Rs 2.

Bharti Airtel, Vodafone Idea, and Reliance Jio have hiked their tariffs by about 40 per cent after incurring huge losses over the last few weeks. Bharti Airtel on Sunday hiked tariff rate in the range of 50 paise per day to Rs 2.85 per day, effective from December 3. The company announced new plans, which will affect the Airtel pre-paid customers who avail the plans provided by the company under its "unlimited" category, among others. "Our new mobile plans offer tremendous value to our customers and are backed by a superior network experience on Airtel's nationwide 4G network. Airtel will continue to make large investments in emerging technologies and digital platforms to deliver world-class experiences to our customers," said Shashwat Sharma, Chief Marketing Officer, Bharti Airtel. According to the release, Airtel's new plans will offer "exclusive benefits as part of the Airtel Thanks platform" to its customers. Vodafone Idea also announced a similar plan, with plans capping at 2 days, 28 days, 84 days, and 365 days of validity and prices varying from Rs 19-2399. Similarly, Jio will be introducing the new 'ALL-IN-ONE' plans with unlimited voice and data, effective from December 6. "Jio will be introducing new ALL-IN-ONE plans with unlimited voice and data. These plans will have a fair usage policy for calls to other mobile networks. The new plans will be effective from December 6, 2019," the statement informed. "Although the NEW ALL-IN-ONE plans will be priced up to 40 per cent higher, staying true to its promise of being customer first, Jio customers will get up to 300 per cent more benefits," the statement added. The company said that while remaining committed to the ultimate interest of the consumer, "Jio will take all necessary steps to help sustain the Indian telecommunications industry." The statement stressed that Jio will continue to work with the government on the consultation process for the revision of telecom tariffs and looks forward to participation from all other stakeholders. The hike in tariffs comes after VIL, and Bharti Airtel posted record quarterly losses of ₹50,922 crore and ₹23,045 crore respectively due to a Supreme Court ruling on the adjusted gross revenue (AGR). Both Vodafone Idea and Bharti Airtel also have an outstanding debt of over ₹1 lakh crore each. The three telecommunication giants account for over 90 per cent market share of 1.18 billion mobile subscribers. (With inputs from agencies)

Vodafone Idea, Bharti Airtel, Reliance Jio hike prepaid prices by 40%

Wall Street stocks dipped early Monday after US President Donald Trump announced tariff actions on <a href="https://www.wionews.com/world/effective-immediately-us-to-restore-steel-aluminum-tariffs-on-brazil-argentina-trump-265754">Brazil and Argentina </a>and China retaliated for a US bill supporting protesters in Hong Kong.

Trump said he was reinstating tariffs on steel and aluminium from the South American countries due to a devaluation of their currencies. The United States had previously exempted some countries, including Argentina and Brazil, which agreed to quotas on the metals.

Meanwhile, China suspended US warship visits and sanctioned American NGOs after Trump signed into law a congressional measure supporting pro-democracy protesters in Hong Kong.

Some analysts rated the Chinese measures as mostly symbolic but said they were potentially important in light of ongoing trade talks between Washington and Beijing.

About 15 minutes into trading, the Dow Jones Industrial Average stood at 28,038.17, down 0.1 per cent.

The broad-based S&amp;P 500 dropped 0.2 per cent to 3,135.43, while the tech-rich Nasdaq Composite Index shed 0.4 per cent to 8,633.53.

US stocks are still within shouting distance of all-time highs following records last week that were fed by optimism over the US-China trade talks, upbeat expectations for the holiday shopping season and moves by the Federal Reserve to cut interest rates and loosen monetary policy.

Key events this week include updates on the manufacturing and services sector, as well as the November jobs report.

Wall Street stocks dipped early Monday after US President Donald Trump announced tariff actions on Brazil and Argentina and China retaliated for a US bill supporting protesters in Hong Kong.

Wall Street stocks dipped early Monday after US President Donald Trump announced tariff actions on Brazil and Argentina and China retaliated for a US bill supporting protesters in Hong Kong. Trump said he was reinstating tariffs on steel and aluminium from the South American countries due to a devaluation of their currencies. The United States had previously exempted some countries, including Argentina and Brazil, which agreed to quotas on the metals. Meanwhile, China suspended US warship visits and sanctioned American NGOs after Trump signed into law a congressional measure supporting pro-democracy protesters in Hong Kong. Some analysts rated the Chinese measures as mostly symbolic but said they were potentially important in light of ongoing trade talks between Washington and Beijing. About 15 minutes into trading, the Dow Jones Industrial Average stood at 28,038.17, down 0.1 per cent. The broad-based S&P 500 dropped 0.2 per cent to 3,135.43, while the tech-rich Nasdaq Composite Index shed 0.4 per cent to 8,633.53. US stocks are still within shouting distance of all-time highs following records last week that were fed by optimism over the US-China trade talks, upbeat expectations for the holiday shopping season and moves by the Federal Reserve to cut interest rates and loosen monetary policy. Key events this week include updates on the manufacturing and services sector, as well as the November jobs report.

Wall Street stocks dip over US tariff action on Brazil, Argentina; China retaliation on US bill

Oil jumped above $61 a barrel on Monday, supported by <a href="https://www.wionews.com/business-economy/opecs-share-of-indian-oil-imports-fell-down-43-lowest-since-2011-263065">hints that OPEC</a> and its allies may agree to deepen output cuts at a meeting this week and as rising manufacturing activity in China suggested stronger demand.

The Organization of the Petroleum Exporting Countries and allies including Russia are expected to extend output cuts this week and could increase the size of the curb by at least 400,000 barrels per day (bpd), two sources said.

"There is a discussion about a deeper cut taking place," an OPEC source said, citing forecasts of oversupply in the first six months of 2020. "There is a big stock build in the first half of the year - we need to keep an eye on that."

Brent crude, the global benchmark, rose $1.13 to $61.62 a barrel by 1426 GMT. US West Texas Intermediate (WTI) crude added $1.07 to $56.24.

The so-called OPEC+ group has coordinated output for three years to balance the market and support prices. Their current deal to cut supply by 1.2 million bpd started in January and expires at the end of March 2020.

"Any sign of discontent between the producers will send out negative signals and will put significant downward pressure on the oil price," said Tamas Varga of oil broker PVM. "We believe this is unlikely to happen."

OPEC's ministers will meet in Vienna on Thursday and the wider OPEC+ group will gather on Friday.

On Friday Brent and US crude both fell on concerns that talks to end the trade war between the United States and China, the world's two biggest oil consumers, would be disrupted by US support for protesters in Hong Kong.

Oil also rose on Monday because of an unexpected return to growth in Chinese factory activity in November as domestic demand picked up on Beijing's accelerated stimulus measures. That is supportive of the oil demand outlook.

But US production keeps rising, led by shale oil, filling the gaps left by OPEC. Output in September increased to a record 12.46 million bpd, the U.S. government said in a monthly report on Friday.

It is not certain OPEC+ will agree this week to deepen its curbs. Some in the group are wary measures to support prices will encourage more U.S. production.

"A deeper cut could boost prices, which would bring on more shale output and not help," the OPEC source said.

Oil jumped above $61 a barrel on Monday, supported by hints that OPEC and its allies may agree to deepen output cuts at a meeting this week and as rising manufacturing activity in China suggested stronger demand.

Oil jumped above $61 a barrel on Monday, supported by hints that OPEC and its allies may agree to deepen output cuts at a meeting this week and as rising manufacturing activity in China suggested stronger demand. The Organization of the Petroleum Exporting Countries and allies including Russia are expected to extend output cuts this week and could increase the size of the curb by at least 400,000 barrels per day (bpd), two sources said. "There is a discussion about a deeper cut taking place," an OPEC source said, citing forecasts of oversupply in the first six months of 2020. "There is a big stock build in the first half of the year - we need to keep an eye on that." Brent crude, the global benchmark, rose $1.13 to $61.62 a barrel by 1426 GMT. US West Texas Intermediate (WTI) crude added $1.07 to $56.24. The so-called OPEC+ group has coordinated output for three years to balance the market and support prices. Their current deal to cut supply by 1.2 million bpd started in January and expires at the end of March 2020. "Any sign of discontent between the producers will send out negative signals and will put significant downward pressure on the oil price," said Tamas Varga of oil broker PVM. "We believe this is unlikely to happen." OPEC's ministers will meet in Vienna on Thursday and the wider OPEC+ group will gather on Friday. On Friday Brent and US crude both fell on concerns that talks to end the trade war between the United States and China, the world's two biggest oil consumers, would be disrupted by US support for protesters in Hong Kong. Oil also rose on Monday because of an unexpected return to growth in Chinese factory activity in November as domestic demand picked up on Beijing's accelerated stimulus measures. That is supportive of the oil demand outlook. But US production keeps rising, led by shale oil, filling the gaps left by OPEC. Output in September increased to a record 12.46 million bpd, the U.S. government said in a monthly report on Friday. It is not certain OPEC+ will agree this week to deepen its curbs. Some in the group are wary measures to support prices will encourage more U.S. production. "A deeper cut could boost prices, which would bring on more shale output and not help," the OPEC source said.

Oil prices jump to $61 over OPEC+ supply cut reports

Hong Kong Airlines, controlled by cash-strapped Chinese conglomerate HNA Group, must shore up its financial position by December&nbsp;7 or risk the suspension or loss of its licence, a Hong Kong air transport regulator said on Monday.

The Air Transport Licensing Authority (ATLA) said in a statement that it attached new conditions to the licence of the city's second-largest airline, requiring it to raise money and maintain certain cash levels.

It said if the conditions are not met, a decision on whether to suspend or revoke the airline's licence will be announced by December&nbsp;7.

Hong Kong Airlines said in a statement posted on its website it is actively communicating with shareholders and other stakeholders to meet the new requirements from ATLA as requested.

"Our operation is still running normally and we remain committed to flying our passengers to their destinations safely," it said.

The airline is not publicly listed and does not disclose financial data, but in April, it told shareholders that it needed at least HK$2 billion ($256 million) in fresh funds or it would lose its operating license.

The carrier told them at the time it had lost HK$3 billion in 2018 and an infusion was crucial, according to people present.

Hong Kong's Transport and Housing Board said in a separate statement on Monday it met with the airline on November&nbsp;27 and expressed "grave dissatisfaction and deep concern" that the carrier's financial position had not improved.

Several <a href="https://www.wionews.com/business-economy/air-new-zealand-named-top-carrier-globally-in-annual-airline-awards-264722">airlines</a> have collapsed in 2019 because of financial problems, including India's Jet Airways Ltd, Britain's Thomas Cook and Iceland's WOW.

Hong Kong Airlines was struggling financially even before months of <a href="https://www.wionews.com/world/hong-kong-series-of-week-long-lunchtime-protests-begin-265716">anti-government protests</a> led to a plunge in visitors to the Asian financial capital.

"As weak travel demand resulting from the social unrest in Hong Kong has continued to affect our business and revenue, Hong Kong Airlines has reduced its capacity and flights in the coming months as well as further consolidated its network under the challenging business environment," it said in its statement.

The airline said on Friday it would further reduce capacity, suspending flights to Vancouver, Ho Chi Minh City and Tianjin.

On Saturday, the carrier said on its website that its in-flight entertainment system would be out of service until further notice.

Hong Kong Airlines, controlled by cash-strapped Chinese conglomerate HNA Group, must shore up its financial position by December 7 or risk the suspension or loss of its licence, a Hong Kong air transport regulator said on Monday.

Hong Kong Airlines, controlled by cash-strapped Chinese conglomerate HNA Group, must shore up its financial position by December 7 or risk the suspension or loss of its licence, a Hong Kong air transport regulator said on Monday. The Air Transport Licensing Authority (ATLA) said in a statement that it attached new conditions to the licence of the city's second-largest airline, requiring it to raise money and maintain certain cash levels. It said if the conditions are not met, a decision on whether to suspend or revoke the airline's licence will be announced by December 7. Hong Kong Airlines said in a statement posted on its website it is actively communicating with shareholders and other stakeholders to meet the new requirements from ATLA as requested. "Our operation is still running normally and we remain committed to flying our passengers to their destinations safely," it said. The airline is not publicly listed and does not disclose financial data, but in April, it told shareholders that it needed at least HK$2 billion ($256 million) in fresh funds or it would lose its operating license. The carrier told them at the time it had lost HK$3 billion in 2018 and an infusion was crucial, according to people present. Hong Kong's Transport and Housing Board said in a separate statement on Monday it met with the airline on November 27 and expressed "grave dissatisfaction and deep concern" that the carrier's financial position had not improved. Several airlines have collapsed in 2019 because of financial problems, including India's Jet Airways Ltd, Britain's Thomas Cook and Iceland's WOW. Hong Kong Airlines was struggling financially even before months of anti-government protests led to a plunge in visitors to the Asian financial capital. "As weak travel demand resulting from the social unrest in Hong Kong has continued to affect our business and revenue, Hong Kong Airlines has reduced its capacity and flights in the coming months as well as further consolidated its network under the challenging business environment," it said in its statement. The airline said on Friday it would further reduce capacity, suspending flights to Vancouver, Ho Chi Minh City and Tianjin. On Saturday, the carrier said on its website that its in-flight entertainment system would be out of service until further notice.

Hong Kong Airlines told to improve finances or risk losing licence

<a href="https://www.wionews.com/business-economy/sensex-rises-by-68-points-nifty-gains-11-265684">Indian shares </a>erased early gains to end nearly flat on Monday, dragged by losses in information technology and state-owned bank stocks, as a flagging economy kept investors cautious ahead of the central bank's monetary policy meeting later this week.

The NSE Nifty 50 index closed 0.07% lower at 12048.20 and the S&amp;P BSE Sensex was little changed at 40802.17.

India's economy grew at its slowest pace since 2013 for the July-September period at 4.5%, which could prompt the Reserve Bank of India to cut its repo rate at its monetary policy meeting.

The Nifty IT index dropped most among sub-indexes at to nearly 1%, while the state-owned bank index fell 0.87% at close.

A fall in auto sales in November also pushed auto stocks lower, sending the Nifty auto index down 0.9%.

Bharti Airtel was the top gainer among stocks on the Nifty, closing up 3.65%, and Yes Bank was the biggest loser, dropping 6.22%.

 
&nbsp;

Indian shares erased early gains to end nearly flat on Monday, dragged by losses in information technology and state-owned bank stocks, as a flagging economy kept investors cautious ahead of the central bank's monetary policy meeting later this week.

Indian shares erased early gains to end nearly flat on Monday, dragged by losses in information technology and state-owned bank stocks, as a flagging economy kept investors cautious ahead of the central bank's monetary policy meeting later this week. The NSE Nifty 50 index closed 0.07% lower at 12048.20 and the S&P BSE Sensex was little changed at 40802.17. India's economy grew at its slowest pace since 2013 for the July-September period at 4.5%, which could prompt the Reserve Bank of India to cut its repo rate at its monetary policy meeting. The Nifty IT index dropped most among sub-indexes at to nearly 1%, while the state-owned bank index fell 0.87% at close. A fall in auto sales in November also pushed auto stocks lower, sending the Nifty auto index down 0.9%. Bharti Airtel was the top gainer among stocks on the Nifty, closing up 3.65%, and Yes Bank was the biggest loser, dropping 6.22%.

Sensex, Nifty lose early gains, end flat as major sub-indices drop

Brexit&nbsp;pressures and political uncertainty have prompted the Confederation of British&nbsp;Industry&nbsp;and a manufacturing trade body, Make&nbsp;UK, to downgrade their growth forecasts for next year.

Official figures have shown that Britain's economy is growing at the&nbsp;weakest annual pace since 2010, and&nbsp;industry&nbsp;leaders see little or no improvement in&nbsp;2020, even if Prime Minister Boris Johnson wins re-election and secures a&nbsp;<a href="https://www.wionews.com/world/uk-pm-johnson-says-uk-will-leave-eu-by-jan-31-at-the-latest-265230">Brexit&nbsp;divorce deal</a> by a January&nbsp;31 deadline.

The CBI on Monday predicted economic growth of 1.3 per cent&nbsp;this year and 1.2 per cent&nbsp;in&nbsp;2020, followed by a pick-up to 1.8 per cent&nbsp;in 2021, assuming Johnson reaches a trade deal with the EU that leads to no tariffs and little divergence from EU rules.

"Alongside perennial&nbsp;Brexit&nbsp;uncertainty, (businesses) are also contending with softer&nbsp;global&nbsp;demand," CBI chief economist Rain Newton-Smith said.

Back in July, the CBI forecast growth of 1.4 per cent&nbsp;this year and 1.5 per cent&nbsp;next.

Make&nbsp;UK&nbsp;halved its forecast for manufacturing growth next year to 0.3 per cent&nbsp;from 0.6 per cent, though it kept its forecast for growth in the overall economy in&nbsp;2020&nbsp;unchanged at 1.4 per cent, up from 1.3 per cent this year.

"Export orders have increased slightly this quarter, indicating greater confidence from foreign customers about purchasing&nbsp;UK&nbsp;goods as concerns about an end of year no-deal&nbsp;Brexit&nbsp;fade," Make&nbsp;UK's chief executive, Stephen Phipson, said.

Britain's economy has slowed since the June 2016 referendum decision to leave the European Union, with manufacturing especially hard hit due to concerns about disruption to supply chains, on top of pressures from the <a href="https://www.wionews.com/world/china-wants-us-tariffs-rolled-back-in-phase-one-trade-deal-report-265517">US-China trade war</a>.

Johnson's&nbsp;Brexit&nbsp;plan - which he was unable to pass through parliament before he called an early election on <a href="https://www.wionews.com/opinions/uk-elections-2019-five-reasons-to-vote-265079">December&nbsp;12</a> - sees Britain leaving the EU on January&nbsp;31, and then negotiating a new trade deal to take effect at the end of&nbsp;2020.

Johnson has said he will not allow transitional arrangements to continue beyond the end of&nbsp;2020, but many trade experts say this leaves too little time to negotiate a good deal.

If a post-EU transition deal expires at the end of&nbsp;2020&nbsp;without an agreement settled for future trade ties, the CBI predicted a sharp slowdown in growth in 2021 to just 0.4 per cent&nbsp;- the&nbsp;weakest since the financial crisis.

"A no-deal&nbsp;Brexit&nbsp;would put the brakes on&nbsp;UK&nbsp;growth and realise businesses' worst fears," Newton-Smith said.

Brexit pressures and political uncertainty have prompted the Confederation of British Industry and a manufacturing trade body, Make UK, to downgrade their growth forecasts for next year.

Brexit pressures and political uncertainty have prompted the Confederation of British Industry and a manufacturing trade body, Make UK, to downgrade their growth forecasts for next year. Official figures have shown that Britain's economy is growing at the weakest annual pace since 2010, and industry leaders see little or no improvement in 2020, even if Prime Minister Boris Johnson wins re-election and secures a Brexit divorce deal by a January 31 deadline. The CBI on Monday predicted economic growth of 1.3 per cent this year and 1.2 per cent in 2020, followed by a pick-up to 1.8 per cent in 2021, assuming Johnson reaches a trade deal with the EU that leads to no tariffs and little divergence from EU rules. "Alongside perennial Brexit uncertainty, (businesses) are also contending with softer global demand," CBI chief economist Rain Newton-Smith said. Back in July, the CBI forecast growth of 1.4 per cent this year and 1.5 per cent next. Make UK halved its forecast for manufacturing growth next year to 0.3 per cent from 0.6 per cent, though it kept its forecast for growth in the overall economy in 2020 unchanged at 1.4 per cent, up from 1.3 per cent this year. "Export orders have increased slightly this quarter, indicating greater confidence from foreign customers about purchasing UK goods as concerns about an end of year no-deal Brexit fade," Make UK's chief executive, Stephen Phipson, said. Britain's economy has slowed since the June 2016 referendum decision to leave the European Union, with manufacturing especially hard hit due to concerns about disruption to supply chains, on top of pressures from the US-China trade war. Johnson's Brexit plan - which he was unable to pass through parliament before he called an early election on December 12 - sees Britain leaving the EU on January 31, and then negotiating a new trade deal to take effect at the end of 2020. Johnson has said he will not allow transitional arrangements to continue beyond the end of 2020, but many trade experts say this leaves too little time to negotiate a good deal. If a post-EU transition deal expires at the end of 2020 without an agreement settled for future trade ties, the CBI predicted a sharp slowdown in growth in 2021 to just 0.4 per cent - the weakest since the financial crisis. "A no-deal Brexit would put the brakes on UK growth and realise businesses' worst fears," Newton-Smith said.

Brexit, weak global demand to hurt UK in 2020, industry warns

European Commission's anti-trust regulators on Saturday said that it's investigating Google's collection of data, according to news agency Reuters. Google has again come under the lens of EU's anti-trust regulators despite record fines in recent years.

European Commission's anti-trust regulators on Saturday said that it's investigating Google's collection of data, according to news agency Reuters. Google has again come under the lens of EU's anti-trust regulators despite record fines in recent years. The EU executive said it was seeking information on how and why Alphabet unit Google is collecting data. "The Commission has sent out questionnaires as part of a preliminary investigation into Google's practices relating to Google's collection and use of data. The preliminary investigation is ongoing," the EU regulator was quoted as saying as per Reuters report. EU's focus is on data related to local search services, online advertising, online ad targeting services, login services, web browsers and others, the report added. European Competition Commissioner Margrethe Vestager has handed down fines totalling more than 8 billion euros to Google in the last two years and ordered it to change its business practices. Google claimed that it uses data to better its services and that users can manage, delete and transfer their data at any time.

EU antitrust regulators investigating Google's data collection: Report

Yes Bank Ltd aims to raise up to $2 billion in a massive issue of new shares to institutional investors and wealth managers as it soaks up the impact of bad loans in the country's crisis-hit shadow banking and real estate sectors.

The plan, announced late on Friday, would see the country's fifth-largest private sector bank by assets seek to sell new stock worth close to its existing market capitalisation of $2.4 billion at the close of trading on Friday.

As a major part of the plan, Yes Bank said it is in talks on a deal to sell shares worth $1.2 billion to Canadian billionaire Erwin Singh Braich and Hong Kong-based SPGP Holdings, which he backs. The bank said it expected those talks to close shortly.

SPGP Holdings did not immediately respond to a request for comment.

Shares of the Mumbai-based Yes Bank closed 2.5% lower ahead of the announcement on Friday. Its stock has risen about 20% since it said late in October it got a binding offer to buy shares of $1.2 billion from an unidentified global investor.

In its announcement, Yes Bank said other investors who have committed to buying shares include Discovery Capital, Aditya Birla Family Office from India and Citax Holdings Ltd &amp; Citax Investment Group.

Discovery did not immediately respond to a request for comment, while Aditya Birla Family Office and Citax weren't immediately reachable.

It also said a leading US&nbsp;fund house would subscribe, saying the name of the investor would be disclosed early next week.

Yes Bank's board of directors will meet on Dec. 10 to "finalise and approve the details of the preferential allotment and convene an extraordinary general meeting subsequently, to obtain the approval of the shareholders," it said.

The preferential allotment will also be subject to regulatory clearance. The approval of the Reserve Bank of India is needed to buy a stake of more than 5% in domestic banks.

Banking analysts say most of the funds raised by Yes Bank will be used to provide for bad loans. The lender's gross bad loans as a percentage of total loans - a measure of asset quality - spiked to 7.39% in last quarter.

Yes Bank Ltd aims to raise up to $2 billion in a massive issue of new shares to institutional investors and wealth managers as it soaks up the impact of bad loans in the country's crisis-hit shadow banking and real estate sectors.

Yes Bank Ltd aims to raise up to $2 billion in a massive issue of new shares to institutional investors and wealth managers as it soaks up the impact of bad loans in the country's crisis-hit shadow banking and real estate sectors. The plan, announced late on Friday, would see the country's fifth-largest private sector bank by assets seek to sell new stock worth close to its existing market capitalisation of $2.4 billion at the close of trading on Friday. As a major part of the plan, Yes Bank said it is in talks on a deal to sell shares worth $1.2 billion to Canadian billionaire Erwin Singh Braich and Hong Kong-based SPGP Holdings, which he backs. The bank said it expected those talks to close shortly. SPGP Holdings did not immediately respond to a request for comment. Shares of the Mumbai-based Yes Bank closed 2.5% lower ahead of the announcement on Friday. Its stock has risen about 20% since it said late in October it got a binding offer to buy shares of $1.2 billion from an unidentified global investor. In its announcement, Yes Bank said other investors who have committed to buying shares include Discovery Capital, Aditya Birla Family Office from India and Citax Holdings Ltd & Citax Investment Group. Discovery did not immediately respond to a request for comment, while Aditya Birla Family Office and Citax weren't immediately reachable. It also said a leading US fund house would subscribe, saying the name of the investor would be disclosed early next week. Yes Bank's board of directors will meet on Dec. 10 to "finalise and approve the details of the preferential allotment and convene an extraordinary general meeting subsequently, to obtain the approval of the shareholders," it said. The preferential allotment will also be subject to regulatory clearance. The approval of the Reserve Bank of India is needed to buy a stake of more than 5% in domestic banks. Banking analysts say most of the funds raised by Yes Bank will be used to provide for bad loans. The lender's gross bad loans as a percentage of total loans - a measure of asset quality - spiked to 7.39% in last quarter.

Yes Bank seeks up to $2 billion in preferential new share issue

Malaysia's government will discuss a depreciation of the ringgit that is making imports more expensive and raising living costs, Prime Minister Mahathir Mohamad said on Saturday, addressing one of the biggest criticisms of his administration.

The Malaysian ringgit fell for a third straight week this week.

"Previously, our currency was quoted at 3.80 against the US&nbsp;dollar, but now it is at 4.20. Due to our currency's value, everything that we buy has become more expensive," Mahathir told reporters when asked about high cost of basic necessities.

"This is one of the reasons. We will discuss this problem in the government."

The 94-year leader, who took office in May 2018 after unexpectedly winning a general election, said last week he was considering a cabinet reshuffle after the ruling coalition badly lost a by-election hit by voter discontentment over issues such as high living costs and the economy.

Southeast Asia's third-largest economy grew at its weakest pace in a year in the third quarter, hit by sharp falls in exports and mining.

Malaysia's government will discuss a depreciation of the ringgit that is making imports more expensive and raising living costs, Prime Minister Mahathir Mohamad said on Saturday, addressing one of the biggest criticisms of his administration.

Malaysia's government will discuss a depreciation of the ringgit that is making imports more expensive and raising living costs, Prime Minister Mahathir Mohamad said on Saturday, addressing one of the biggest criticisms of his administration. The Malaysian ringgit fell for a third straight week this week. "Previously, our currency was quoted at 3.80 against the US dollar, but now it is at 4.20. Due to our currency's value, everything that we buy has become more expensive," Mahathir told reporters when asked about high cost of basic necessities. "This is one of the reasons. We will discuss this problem in the government." The 94-year leader, who took office in May 2018 after unexpectedly winning a general election, said last week he was considering a cabinet reshuffle after the ruling coalition badly lost a by-election hit by voter discontentment over issues such as high living costs and the economy. Southeast Asia's third-largest economy grew at its weakest pace in a year in the third quarter, hit by sharp falls in exports and mining.

Malaysia to examine ringgit's fall as import costs sting: Mahathir

<a href="https://www.wionews.com/business-economy/oil-drops-as-us-inventory-build-record-output-rekindles-supply-worries-264998">Oil prices </a>tumbled Friday on expectations OPEC next week won't take aggressive action to boost oil prices, while global equities pulled back on trade war worries.&nbsp;

Both the US and European benchmark contracts for oil fell ahead of the December 5 meeting of the Organization of the Petroleum Exporting Countries in Vienna where analysts expect the cartel to stick with a current production agreement, but not to deepen cuts.

"The market may be disappointed that OPEC is not entertaining additional production cuts," said Andy Lipow of Lipow Oil Associates, adding that the group is "in a difficult position" given weak demand and higher output in the US and other regions.

Equity markets ended lower following a lackluster session. US bourses pulled back from records in a holiday-shortened session with low trading volumes.

Analysts said stocks were dragged lower by increased US-China trade friction as Beijing threatened unspecified retaliation after President Donald Trump signed into law legislation supporting Hong Kong pro-democracy protesters.

The market feels "a little angst" on US-China trade relations, although the modest drop suggests few fears that a preliminary US-China trade deal will fall apart, said Briefing.com analyst Patrick O'Hare, who added that low trading volume sharpened the decline.

The pullback also came as the holiday shopping season got started in earnest with the "Black Friday" promotions after Thanksgiving.&nbsp;

Walmart rose slightly, but most other leading US retailers fell, including Target and Amazon, as consumers shift ever more of their dollars to e-commerce from traditional stores.&nbsp;

Elsewhere, London underperformed its eurozone peers in response to a stronger pound which was boosted by expectations that Britain's ruling Conservatives will win next month's general election.

This would likely allow Prime Minister Boris Johnson to push through his Brexit agreement and avoid a no-deal divorce from the European Union.

On the corporate front, shares in Daimler dropped 1.5 per cent. on the Frankfurt bourse as the German luxury automaker said it would slash at least 10,000 jobs worldwide in a major cost-cutting drive to help finance the switch to electric cars.

Shares in UK online supermarket Ocado surged after the company announced a deal to provide artificial intelligence (AI) capabilities to Japanese retail giant Aeon.

Key figures around 1900 GMT&nbsp;

New York - Dow: DOWN 0.4 percent at 28,051.41 (close)

New York - S&amp;P 500: DOWN 0.4 percent at 3,140.98 (close)

New York - Nasdaq: DOWN 0.5 percent at 8,665.47 (close)

London - FTSE 100: DOWN 0.9 percent at 7,346.53 (close)

Frankfurt - DAX 30: DOWN 0.1 percent at 13,236.38 (close)

Paris - CAC 40: DOWN 0.1 percent at 5,905.17 (close)

EURO STOXX 50: FLAT at 3,703.58 (close)

Tokyo - Nikkei 225: DOWN 0.5 percent at 23,293.91 (close)

Hong Kong - Hang Seng: DOWN 2.0 percent at 26,346.49 (close)

Shanghai - Composite: DOWN 0.6 percent at 2,871.98 (close)

Euro/dollar: UP at $1.1017 from $1.1009&nbsp;

Pound/dollar: UP at $1.2933 from $1.2912

Euro/pound: DOWN at 85.18 pence from 85.27

Dollar/yen: DOWN at 109.47 yen from 109.51

Brent North Sea crude: DOWN 2.3 percent at $62.43 per barrel

West Texas Intermediate: DOWN 5.1 percent at $55.17 per barrel

Oil prices tumbled Friday on expectations OPEC next week won't take aggressive action to boost oil prices, while global equities pulled back on trade war worries.

Oil prices tumbled Friday on expectations OPEC next week won't take aggressive action to boost oil prices, while global equities pulled back on trade war worries. Both the US and European benchmark contracts for oil fell ahead of the December 5 meeting of the Organization of the Petroleum Exporting Countries in Vienna where analysts expect the cartel to stick with a current production agreement, but not to deepen cuts. "The market may be disappointed that OPEC is not entertaining additional production cuts," said Andy Lipow of Lipow Oil Associates, adding that the group is "in a difficult position" given weak demand and higher output in the US and other regions. Equity markets ended lower following a lackluster session. US bourses pulled back from records in a holiday-shortened session with low trading volumes. Analysts said stocks were dragged lower by increased US-China trade friction as Beijing threatened unspecified retaliation after President Donald Trump signed into law legislation supporting Hong Kong pro-democracy protesters. The market feels "a little angst" on US-China trade relations, although the modest drop suggests few fears that a preliminary US-China trade deal will fall apart, said Briefing.com analyst Patrick O'Hare, who added that low trading volume sharpened the decline. The pullback also came as the holiday shopping season got started in earnest with the "Black Friday" promotions after Thanksgiving. Walmart rose slightly, but most other leading US retailers fell, including Target and Amazon, as consumers shift ever more of their dollars to e-commerce from traditional stores. Elsewhere, London underperformed its eurozone peers in response to a stronger pound which was boosted by expectations that Britain's ruling Conservatives will win next month's general election. This would likely allow Prime Minister Boris Johnson to push through his Brexit agreement and avoid a no-deal divorce from the European Union. On the corporate front, shares in Daimler dropped 1.5 per cent. on the Frankfurt bourse as the German luxury automaker said it would slash at least 10,000 jobs worldwide in a major cost-cutting drive to help finance the switch to electric cars. Shares in UK online supermarket Ocado surged after the company announced a deal to provide artificial intelligence (AI) capabilities to Japanese retail giant Aeon. Key figures around 1900 GMT New York - Dow: DOWN 0.4 percent at 28,051.41 (close) New York - S&P 500: DOWN 0.4 percent at 3,140.98 (close) New York - Nasdaq: DOWN 0.5 percent at 8,665.47 (close) London - FTSE 100: DOWN 0.9 percent at 7,346.53 (close) Frankfurt - DAX 30: DOWN 0.1 percent at 13,236.38 (close) Paris - CAC 40: DOWN 0.1 percent at 5,905.17 (close) EURO STOXX 50: FLAT at 3,703.58 (close) Tokyo - Nikkei 225: DOWN 0.5 percent at 23,293.91 (close) Hong Kong - Hang Seng: DOWN 2.0 percent at 26,346.49 (close) Shanghai - Composite: DOWN 0.6 percent at 2,871.98 (close) Euro/dollar: UP at $1.1017 from $1.1009 Pound/dollar: UP at $1.2933 from $1.2912 Euro/pound: DOWN at 85.18 pence from 85.27 Dollar/yen: DOWN at 109.47 yen from 109.51 Brent North Sea crude: DOWN 2.3 percent at $62.43 per barrel West Texas Intermediate: DOWN 5.1 percent at $55.17 per barrel

Oil prices tumble ahead of OPEC meeting, global stocks fall

Factory activity in China unexpectedly returned to growth in November for the first time in seven months, as domestic demand picked up on Beijing's accelerated stimulus measures to steady growth.

But gains were slight, and export demand remained sluggish. More US&nbsp;tariffs are looming within weeks and Beijing and Washington are still haggling over the first phase of a trade deal.

With China's economic growth cooling to near 30-year lows and industrial profits shrinking, speculation is mounting that Beijing needs to roll out stimulus more quickly and more aggressively, even if it risks adding to a pile of debt.

The Purchasing Managers' Index (PMI) bounced back to 50.2 in November, its highest since March, China's National Bureau of Statistics (NBS) said on Saturday, above the 50-point mark that separates growth from contraction on a monthly basis.

The result compared with 49.3 in October. A Reuters poll showed analysts expected the November PMI to come in at 49.5.

The official factory gauge pointed to an improvement in China's vast manufacturing sector last month. Total new orders bounced back to expansionary territory with the sub-index rising to 51.3, the highest level seen since April.

That indicates domestic consumption firmed up after Beijing repeatedly urged local governments to kick stimulus up a gear to meet economic goals before year-end. Factory output also rose to 52.6 in November, marking the strongest pace since March.

"In the short term, we may have already passed the low point where the economy hit the bottom," Zhang Deli, a macro analyst with Lianxun Securities, wrote in a note.

Beijing has front-loaded 1 trillion yuan ($142 billion) of a 2020 local government special bonds quota to this year and has urged that they be issued and used as early as possible to boost infrastructure investment. Some analysts say that could be a sign that the government is worried about the downward economic pressure.

Zhang attributed to the better-than-expected November PMI to a government push on infrastructure investment, less property market control, and de-escalation in US-China trade tension in October, when both sides said they had substantially reached a "Phase 1" agreement and the United States delayed a tariff increase scheduled to take place on October 15.

Rising uncertainties

But recent developments underscore rising uncertainties in the trade conflict, which bodes ill for the outlook for external demand. New export orders fell for an 18th straight month in November, albeit at a slower pace, with the sub-index rising to 48.8 from 47.0 in October.

US President Donald Trump said this week that the world's largest economies are close to reaching agreement on the first phase deal. But trade experts and people close to the White House said it could slide into the new year, given China is pressing for more extensive tariff rollbacks.

An additional 15% in US tariffs are scheduled to take effect on about $156 billion of Chinese products on December&nbsp;15.

Trump has also highlighted Washington's support for protesters in Hong Kong, potentially a huge sore point for China.

The PMI survey also indicated factories continued to cut jobs in November despite slightly improved business confidence, while it signalled a further deterioration in profits for Chinese manufacturers, with output prices falling into a three-month low.

Beijing's drive to guide more bank lending towards small private firms appeared to be working. Their PMI index recorded the strongest gain in November, compared to medium-sized and large firms, but their performance was still the poorest of the three at 49.4.

Growth in China's services sector also quickened in November, while construction activity held up well, but growth in the latter slowed compared to the previous month, a separate statistics bureau survey showed.

The official non-manufacturing PMI picked up to 54.4, recovering from October's 52.8, the lowest point since February 2016.

A strong services sector has offered Beijing some cushioning effect as manufacturers face growing difficulties in securing demand both at home and abroad. However, the sector's resilience weakened late last year amid a broader economic slowdown.

Some analysts have also cast doubt over the prospects for robust growth in the construction sector.

"After all, we are still waiting for more definitive signs of a recovery in the credit cycle. Meanwhile, sentiment in the property market continues to cool down, which clouds the outlook of the sustainability of property investment growth," researchers from China International Capital Corporation (CICC) said in a note this week.

China's gross domestic product growth is expected to slow to a near three-decade low of 6.2% in 2019 and then hit 5.9% in 2020, according to a Reuters poll.

Factory activity in China unexpectedly returned to growth in November for the first time in seven months, as domestic demand picked up on Beijing's accelerated stimulus measures to steady growth.

Factory activity in China unexpectedly returned to growth in November for the first time in seven months, as domestic demand picked up on Beijing's accelerated stimulus measures to steady growth. But gains were slight, and export demand remained sluggish. More US tariffs are looming within weeks and Beijing and Washington are still haggling over the first phase of a trade deal. With China's economic growth cooling to near 30-year lows and industrial profits shrinking, speculation is mounting that Beijing needs to roll out stimulus more quickly and more aggressively, even if it risks adding to a pile of debt. The Purchasing Managers' Index (PMI) bounced back to 50.2 in November, its highest since March, China's National Bureau of Statistics (NBS) said on Saturday, above the 50-point mark that separates growth from contraction on a monthly basis. The result compared with 49.3 in October. A Reuters poll showed analysts expected the November PMI to come in at 49.5. The official factory gauge pointed to an improvement in China's vast manufacturing sector last month. Total new orders bounced back to expansionary territory with the sub-index rising to 51.3, the highest level seen since April. That indicates domestic consumption firmed up after Beijing repeatedly urged local governments to kick stimulus up a gear to meet economic goals before year-end. Factory output also rose to 52.6 in November, marking the strongest pace since March. "In the short term, we may have already passed the low point where the economy hit the bottom," Zhang Deli, a macro analyst with Lianxun Securities, wrote in a note. Beijing has front-loaded 1 trillion yuan ($142 billion) of a 2020 local government special bonds quota to this year and has urged that they be issued and used as early as possible to boost infrastructure investment. Some analysts say that could be a sign that the government is worried about the downward economic pressure. Zhang attributed to the better-than-expected November PMI to a government push on infrastructure investment, less property market control, and de-escalation in US-China trade tension in October, when both sides said they had substantially reached a "Phase 1" agreement and the United States delayed a tariff increase scheduled to take place on October 15. Rising uncertainties But recent developments underscore rising uncertainties in the trade conflict, which bodes ill for the outlook for external demand. New export orders fell for an 18th straight month in November, albeit at a slower pace, with the sub-index rising to 48.8 from 47.0 in October. US President Donald Trump said this week that the world's largest economies are close to reaching agreement on the first phase deal. But trade experts and people close to the White House said it could slide into the new year, given China is pressing for more extensive tariff rollbacks. An additional 15% in US tariffs are scheduled to take effect on about $156 billion of Chinese products on December 15. Trump has also highlighted Washington's support for protesters in Hong Kong, potentially a huge sore point for China. The PMI survey also indicated factories continued to cut jobs in November despite slightly improved business confidence, while it signalled a further deterioration in profits for Chinese manufacturers, with output prices falling into a three-month low. Beijing's drive to guide more bank lending towards small private firms appeared to be working. Their PMI index recorded the strongest gain in November, compared to medium-sized and large firms, but their performance was still the poorest of the three at 49.4. Growth in China's services sector also quickened in November, while construction activity held up well, but growth in the latter slowed compared to the previous month, a separate statistics bureau survey showed. The official non-manufacturing PMI picked up to 54.4, recovering from October's 52.8, the lowest point since February 2016. A strong services sector has offered Beijing some cushioning effect as manufacturers face growing difficulties in securing demand both at home and abroad. However, the sector's resilience weakened late last year amid a broader economic slowdown. Some analysts have also cast doubt over the prospects for robust growth in the construction sector. "After all, we are still waiting for more definitive signs of a recovery in the credit cycle. Meanwhile, sentiment in the property market continues to cool down, which clouds the outlook of the sustainability of property investment growth," researchers from China International Capital Corporation (CICC) said in a note this week. China's gross domestic product growth is expected to slow to a near three-decade low of 6.2% in 2019 and then hit 5.9% in 2020, according to a Reuters poll.

China's factory activity unexpectedly returns to growth in November

US stocks slipped on Friday in a post-holiday shortened session as a US-China discord over Hong Kong reignited trade tensions and retail stocks dipped on signs of a tepid start to in-store Black Friday sales.

China on Thursday threatened to retaliate against a US law backing pro-democracy protesters in Hong Kong. The measures could include barring drafters of the legislation from mainland China, Hong Kong and Macau, the editor of China's state-backed Global Times tabloid said in a tweet.

The trade-sensitive Philadelphia Semiconductor index fell as much as 0.8 per cent and was on track for its worst day in a week.

The diplomatic clash also knocked Wall Street's main indexes off record highs. They had closed at all-time highs in every session so far this week on upbeat domestic data and hopes of an imminent "phase one" trade deal.

"The fact that this is a half-day with the markets being at all-time highs is a reason to give investors a bit of a pause," said Robert Pavlik, chief investment strategist, at SlateStone Wealth LLC in New York.

The sentiment was also dulled by reports of spot checks on retailers around the country, which showed fewer people lining up outside stores at the start of Black Friday, suggesting a surge in online buying may have taken the shine off America's biggest shopping day.

The S&amp;P 500 retail sector fell 0.7 per cent, with Kohl's Corp dropping 2.3 per cent. But top retailers Walmart Inc and Best Buy Co Inc were up between 0.3% and 0.7%.

At 11:48 a.m. ET the Dow Jones Industrial Average was down 95.45 points, or 0.34 per cent, at 28,068.55, while the S&amp;P 500 was down 8.63 points, or 0.27per cent, at 3,145. The Nasdaq Composite was down 21.73 points, or 0.25%, at 8,683.45.

Shares of Tech Data Corp jumped 12.3 per cent&nbsp;as private equity firm Apollo Global Management raised its bid for the US information technology equipment distributor to about $5.14 billion.

Declining issues outnumbered advancers for a 1.58-to-1 ratio on the NYSE and for a 1.18-to-1 ratio on the Nasdaq. The S&amp;P index recorded 15 new 52-week highs and one new low, while the Nasdaq recorded 66 new highs and 26 new lows.

US stocks slipped on Friday in a post-holiday shortened session as a US-China discord over Hong Kong reignited trade tensions and retail stocks dipped on signs of a tepid start to in-store Black Friday sales.

US stocks slipped on Friday in a post-holiday shortened session as a US-China discord over Hong Kong reignited trade tensions and retail stocks dipped on signs of a tepid start to in-store Black Friday sales. China on Thursday threatened to retaliate against a US law backing pro-democracy protesters in Hong Kong. The measures could include barring drafters of the legislation from mainland China, Hong Kong and Macau, the editor of China's state-backed Global Times tabloid said in a tweet. The trade-sensitive Philadelphia Semiconductor index fell as much as 0.8 per cent and was on track for its worst day in a week. The diplomatic clash also knocked Wall Street's main indexes off record highs. They had closed at all-time highs in every session so far this week on upbeat domestic data and hopes of an imminent "phase one" trade deal. "The fact that this is a half-day with the markets being at all-time highs is a reason to give investors a bit of a pause," said Robert Pavlik, chief investment strategist, at SlateStone Wealth LLC in New York. The sentiment was also dulled by reports of spot checks on retailers around the country, which showed fewer people lining up outside stores at the start of Black Friday, suggesting a surge in online buying may have taken the shine off America's biggest shopping day. The S&P 500 retail sector fell 0.7 per cent, with Kohl's Corp dropping 2.3 per cent. But top retailers Walmart Inc and Best Buy Co Inc were up between 0.3% and 0.7%. At 11:48 a.m. ET the Dow Jones Industrial Average was down 95.45 points, or 0.34 per cent, at 28,068.55, while the S&P 500 was down 8.63 points, or 0.27per cent, at 3,145. The Nasdaq Composite was down 21.73 points, or 0.25%, at 8,683.45. Shares of Tech Data Corp jumped 12.3 per cent as private equity firm Apollo Global Management raised its bid for the US information technology equipment distributor to about $5.14 billion. Declining issues outnumbered advancers for a 1.58-to-1 ratio on the NYSE and for a 1.18-to-1 ratio on the Nasdaq. The S&P index recorded 15 new 52-week highs and one new low, while the Nasdaq recorded 66 new highs and 26 new lows.

Wall Street slips as US law on Hong Kong brings back trade fears

Equity <a href="https://www.wionews.com/india-news/sensex-scales-up-110-points-reliances-market-cap-ends-above-rs-10-lakh-crore-265086">benchmark indices </a>tumbled into the negative terrain during early hours on Friday following weak global cues as investors feared that passage of the Hong Kong pro-democracy bill in Washington could derail trade talks between the United States and China.

At 10:15 am, the BSE S&amp;P Sensex was down by 243 points to 40,888 while the Nifty 50 rolled down by 57 points at 12,094.

Sectoral indices at the National Stock Exchange were mixed with Nifty auto, financial services, FMCG and IT in the red.

Among stocks, the prominent losers were Dr Reddy`s, ICICI Bank, Hindustan Lever, HDFC and Mahindra &amp; Mahindra. However, Bharti Infratel continued to climb up and added gains of 5.6 per cent at Rs 271.05 per share while Bharti Airtel was up by 1.8 per cent.

Yes Bank gained 4.3 per cent, Zee Entertainment 2 per cent and GAIL by 1.7 per cent.

Meanwhile, Asian markets slipped as investors turned cautious, fearing a new US law backing Hong Kong protesters could put hurdles in efforts to end the US-China trade conflict.

MSCI`s broadest index of Asia Pacific shares outside Japan fell by 0.9 per cent. Hong Kong led the losses, dropping by 2 per cent while South Korean shares lost by 1.2 per cent and Japan`s Nikkei eased by 0.1 per cent.

Equity benchmark indices tumbled into the negative terrain during early hours on Friday following weak global cues as investors feared that passage of the Hong Kong pro-democracy bill in Washington could derail trade talks between the United States and China.

Equity benchmark indices tumbled into the negative terrain during early hours on Friday following weak global cues as investors feared that passage of the Hong Kong pro-democracy bill in Washington could derail trade talks between the United States and China. At 10:15 am, the BSE S&P Sensex was down by 243 points to 40,888 while the Nifty 50 rolled down by 57 points at 12,094. Sectoral indices at the National Stock Exchange were mixed with Nifty auto, financial services, FMCG and IT in the red. Among stocks, the prominent losers were Dr Reddy`s, ICICI Bank, Hindustan Lever, HDFC and Mahindra & Mahindra. However, Bharti Infratel continued to climb up and added gains of 5.6 per cent at Rs 271.05 per share while Bharti Airtel was up by 1.8 per cent. Yes Bank gained 4.3 per cent, Zee Entertainment 2 per cent and GAIL by 1.7 per cent. Meanwhile, Asian markets slipped as investors turned cautious, fearing a new US law backing Hong Kong protesters could put hurdles in efforts to end the US-China trade conflict. MSCI`s broadest index of Asia Pacific shares outside Japan fell by 0.9 per cent. Hong Kong led the losses, dropping by 2 per cent while South Korean shares lost by 1.2 per cent and Japan`s Nikkei eased by 0.1 per cent.

Indian markets open in red amid weak global cues