STREAMING NOW: Watch Now

E.U. Leaders back Brexit deal

Kate Andrews, Columnist, City AM and Ryan Heath, Politico Europe give us the view from London and Brussels and discuss what's next for Brexit.

Posted: Nov 26, 2018 12:28 PM
Updated: Nov 26, 2018 12:38 PM

1. Even more shopping: The deals didn't stop on Black Friday. The action has now moved online, where retailers are offering deep discounts.

Cyber Monday is expected to be the largest online shopping day in history, generating a whopping $7.8 billion in sales, an increase of more than 17% from the previous year, according to Adobe Analytics.

Deloitte says shoppers will on average spend $170 more each on Cyber Monday compared to any day of the prior Black Friday weekend.

The sales are especially important for struggling retailers. But with nearly every company spending big on incentives like free shipping, retailers have to be careful not to let discounting harm their bottom line.

The situation is especially dire at Sears (SHLD). The iconic retailer plans to emerge from bankruptcy much smaller and profitable. But by next year, there's a very good chance the company will have vanished.

2. GM overhaul: A Canadian union says it has been notified by General Motors that the carmaker "will make a major announcement tomorrow that will impact its global operations."

Unifor said in a statement on Sunday that GM (GM) plans to shutter its plant in Oshawa, Ontario, as part of the overhaul.

The factory has been in operation since 1953. It currently produces the Cadillac XTS and Chevrolet Impala, as well as pickup trucks for Chevrolet and GMC.

GM offered buyouts to more than a third of its white collar staff in the United States in late October, a move designed to help its transition to self-driving vehicles and other new technologies.

Before the Bell newsletter: Key market news. In your inbox. Subscribe now!

3. Pound unmoved: The Brexit deal negotiated by Prime Minister Theresa May was approved by EU leaders on Sunday. But the pound is little changed at $1.28. That's because the tallest hurdle is yet to come.

May must still push her deal through a divided UK parliament. If she fails, potential alternatives include crashing out of the European Union without a deal, a second referendum or a general election in Britain.

Neil Shearing, group chief economist at Capital Economics, said that it's unlikely that the deal approved this weekend in Brussels will be signed off by parliament.

"The fact that, with just four months to go until the United Kingdom is due to leave the European Union, there are at least five different ways in which Brexit could unfold, tells its own sorry story," he said.

4. Ghosn ousted: Mitsubishi Motors has followed Nissan in removing Carlos Ghosn as its chairman.

The Japanese carmaker's board of directors voted on Monday to oust the auto industry legend, who was arrested in Tokyo last week on suspicion of financial misconduct while serving as chairman of Nissan.

In a statement to the Tokyo stock exchange, Mitsubishi said that its board had appointed CEO Osamu Masuko as interim chairman.

The decision is the latest blow to an alliance Ghosn built between Mitsubishi (MMTOF), Nissan (NSANY) and France's Renault (RNSDF).

Ghosn retains his positions as CEO and chairman of Renault, but the French carmaker has asked other people to perform those roles on an interim basis.

5. Stocks rebound: Markets in Asia and Europe posted gains on Monday. Benchmark indexes in Hong Kong, London, Paris and Frankfurt each rose by more than 1% as US crude oil prices stabilized near $51.50.

US stock futures were also sharply higher, suggesting that markets will rebound from a thrashing last week that saw all three major US indexes tumble about 4%.

The price of bitcoin continues to swing wildly. At one point on Monday, the digital currency was trading below $3,500.

Markets Now newsletter: Get a global markets snapshot every afternoon. Sign up now!

6. Coming this week:
Monday — Cyber Monday
Tuesday — Cracker Barrel (CRBL) and Salesforce (CRM) earnings
Wednesday — J M Smucker (SJM), Box (BOX) and Tiffany (TIF) earnings; US GDP second estimate
Thursday — Dollar Tree (DLTR), Abercrombie & Fitch (ANF) and HP (HPQ) earnings; Fed notes released
Friday — G20 begins in Argentina

Oregon Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 10395

Reported Deaths: 215
CountyConfirmedDeaths
Multnomah252969
Marion166148
Washington162020
Clackamas86125
Umatilla7726
Union3561
Lincoln3464
Lane2283
Deschutes2210
Malheur2161
Polk16012
Linn1579
Jackson1520
Yamhill1398
Jefferson1340
Klamath1301
Morrow1071
Benton955
Hood River940
Wasco941
Josephine561
Clatsop540
Douglas510
Columbia420
Coos420
Lake210
Tillamook150
Crook130
Wallowa100
Curry80
Baker50
Sherman30
Gilliam10
Grant10
Harney10
Unassigned00
Wheeler00

California Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 271035

Reported Deaths: 6441
CountyConfirmedDeaths
Los Angeles1165703534
Riverside20555486
Orange17882366
San Diego16726387
San Bernardino15345269
Imperial7190117
Alameda6855140
Fresno611077
Santa Clara5408164
Kern536982
Tulare5009136
San Joaquin447455
Sacramento423669
San Francisco399250
Contra Costa387885
Ventura378950
San Mateo3599108
Santa Barbara326129
Marin280921
Kings267333
Stanislaus266045
Monterey215115
Solano147625
Sonoma135911
Merced127211
Placer91111
San Luis Obispo7652
Yolo67726
Madera5785
Santa Cruz4593
Napa4364
San Benito2732
Sutter2523
Lassen2420
El Dorado2260
Butte2063
Shasta1544
Humboldt1444
Nevada1291
Yuba1282
Glenn1220
Lake961
Tehama881
Mendocino850
Colusa700
Del Norte581
Calaveras530
Mono471
Tuolumne430
Amador330
Inyo331
Siskiyou320
Mariposa311
Plumas110
Alpine20
Trinity20
Sierra10
Unassigned00
Medford
Scattered Clouds
76° wxIcon
Hi: 80° Lo: 53°
Feels Like: 76°
Brookings
Clear
69° wxIcon
Hi: 70° Lo: 53°
Feels Like: 69°
Crater Lake
Clear
70° wxIcon
Hi: 71° Lo: 43°
Feels Like: 70°
Grants Pass
Scattered Clouds
73° wxIcon
Hi: 79° Lo: 52°
Feels Like: 73°
Klamath Falls
Clear
70° wxIcon
Hi: 75° Lo: 40°
Feels Like: 70°
Warming up the rest of the week
KDRV Radar
KDRV Fire Danger
KDRV Weather Cam

Community Events