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Markets gain...GM announces layoffs...Cyber sales

November 26, 2018

NEW YORK (AP) — Global markets are rising as big technology stocks recover some of their recent losses and retailers and travel companies climb on the first full trading day of the holiday shopping season. The Dow gained 340 points, or 1.4 percent, to 24,625. The S&P climbed 39 points and the Nasdaq rose 131 points.

DETROIT (AP) — President Donald Trump says his administration and lawmakers are exerting “a lot of pressure” on General Motors in response to its decision to cut up to 14,000 workers in North America and possibly shutter up to five plants. The reduction includes 8,100 white-collar workers, some of whom will take buyouts and others who will be laid off. Most of the affected factories build cars that won’t be sold in the U.S. after next year.

MINNEAPOLIS (AP) — The number of farms filing for bankruptcy is increasing across the Upper Midwest. A new analysis from the Federal Reserve Bank of Minneapolis shows 84 farms filed for bankruptcy in Wisconsin, Minnesota, North Dakota, South Dakota and Montana in the 12 months that ended in June.

WASHINGTON (AP) — The Supreme Court seems ready to allow an antitrust lawsuit to go forward that claims Apple has unfairly monopolized the market for the sale of iPhone apps. Apple faced skeptical questions from justices who seemed concerned about the control the Cupertino, California-based company exerts over iPhone users who must purchase software for their smartphones exclusively through its App Store.

MINNEAPOLIS (AP) — Like Black Friday, Cyber Monday is spreading out into a week-long shopping fest, with Amazon, Walmart and Target calling it “Cyber Week.” Still, Monday is expected to be the biggest online shopping day in U.S. history, according to Adobe Analytics, which tracks online sales at 80 of the top 100 retail sites.

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