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 2:38 PM
Updated: Nov 26, 2018 2:38 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.

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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.

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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

Mississippi Coronavirus Cases

Data is updated nightly.

Cases: 261167

Reported Deaths: 5713
CountyCasesDeaths
DeSoto17561191
Hinds16687329
Harrison14050202
Rankin11102217
Jackson10729188
Lee9014143
Madison8495168
Jones6607114
Forrest6135122
Lauderdale6067192
Lowndes5490120
Lafayette511794
Lamar499865
Washington4904125
Bolivar4087109
Oktibbeha403581
Panola380981
Pontotoc374757
Monroe3651106
Warren3649103
Union353263
Marshall352069
Neshoba3464154
Pearl River3422105
Leflore3090109
Lincoln304287
Sunflower290373
Hancock288461
Tate279062
Alcorn270754
Pike268180
Itawamba266662
Scott256048
Yazoo253756
Prentiss251153
Copiah247649
Tippah247550
Coahoma245954
Simpson241471
Leake236167
Grenada222471
Marion220273
Covington219072
Adams212370
Wayne208432
Winston205870
George203539
Newton197346
Attala196461
Tishomingo193861
Chickasaw188444
Jasper177838
Holmes171368
Clay164237
Tallahatchie155635
Stone149525
Clarke144762
Calhoun139922
Smith127725
Yalobusha121134
Walthall114037
Greene112929
Noxubee112225
Montgomery111236
Carroll106422
Lawrence105617
Perry104031
Amite100826
Webster95424
Tunica88221
Claiborne87825
Jefferson Davis87727
Benton84823
Humphreys84224
Kemper80020
Quitman7049
Franklin69617
Choctaw62513
Wilkinson59625
Jefferson56520
Sharkey44817
Issaquena1606
Unassigned00

Alabama Coronavirus Cases

Cases: 436087

Reported Deaths: 6486
CountyCasesDeaths
Jefferson63969994
Mobile31211565
Madison27851208
Tuscaloosa21233271
Montgomery19698326
Shelby19093130
Baldwin16981188
Lee13036105
Morgan12526134
Etowah11987179
Calhoun11441206
Marshall10357123
Houston8886158
Limestone827876
Cullman8203108
Elmore8120104
DeKalb7828103
Lauderdale7798103
St. Clair7763125
Talladega6394111
Walker6002177
Jackson594644
Colbert545276
Blount543986
Autauga532761
Coffee456762
Dale406883
Franklin372448
Russell349212
Chilton342873
Covington336068
Escambia330144
Dallas312096
Tallapoosa3120107
Chambers301170
Clarke293336
Pike261131
Marion251558
Lawrence250752
Winston232742
Bibb221248
Geneva208746
Marengo206529
Pickens199031
Hale182742
Barbour179337
Fayette177029
Butler172459
Cherokee164330
Henry158224
Monroe151320
Randolph144336
Washington140127
Clay129146
Crenshaw122944
Macon120937
Cleburne120724
Lamar119721
Lowndes113736
Wilcox106622
Bullock102228
Perry99118
Conecuh96821
Sumter90026
Greene76823
Coosa63215
Choctaw51724
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