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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: 343505

Reported Deaths: 7543
CountyCasesDeaths
Hinds23932444
DeSoto23229283
Harrison20527329
Rankin15411291
Jackson15232252
Madison10959227
Lee10719179
Jones9047169
Forrest8723159
Lauderdale7884244
Lowndes7054151
Lamar702989
Lafayette6548124
Washington5595139
Pearl River5196152
Bolivar4954134
Oktibbeha494398
Panola4771112
Warren4728128
Marshall4701106
Pontotoc447773
Union433279
Monroe4330137
Neshoba4281181
Hancock428088
Lincoln4176116
Pike3667113
Leflore3627125
Tate353388
Alcorn350974
Sunflower347694
Scott341176
Adams340988
Yazoo339376
Copiah324968
Simpson322891
Itawamba314680
Coahoma314085
Tippah306568
Prentiss298863
Covington293484
Leake285475
Marion284181
Wayne277543
George272251
Grenada269488
Newton262364
Tishomingo239770
Winston236784
Jasper230648
Stone229637
Attala226373
Chickasaw219060
Holmes200174
Clay197654
Clarke186880
Tallahatchie183742
Calhoun181332
Smith179235
Yalobusha171540
Walthall145748
Lawrence142826
Greene140134
Amite137543
Noxubee135235
Perry133538
Montgomery133044
Carroll126431
Webster121232
Jefferson Davis116734
Tunica114227
Benton106725
Claiborne105331
Kemper102429
Humphreys100133
Franklin87923
Quitman84719
Choctaw82619
Wilkinson78032
Jefferson71328
Sharkey51618
Issaquena1736
Unassigned00

Alabama Coronavirus Cases

Cases: 577463

Reported Deaths: 11510
CountyCasesDeaths
Jefferson841981589
Mobile47171860
Madison37047533
Tuscaloosa26915465
Shelby26873256
Montgomery25918625
Baldwin24499328
Lee16949181
Calhoun15252332
Morgan15017290
Etowah14778370
Marshall12933235
Houston11774292
Elmore10761217
St. Clair10617252
Limestone10574158
Cullman10363205
Lauderdale10083254
DeKalb9382191
Talladega8836188
Walker7681287
Autauga7479114
Jackson7317117
Blount7266139
Colbert6635142
Coffee6163132
Dale5453117
Russell470642
Chilton4682117
Covington4649125
Franklin450081
Tallapoosa4440156
Escambia427882
Chambers3898125
Dallas3717163
Clarke367763
Marion3427106
Pike327879
Lawrence3225101
Winston294973
Bibb284565
Geneva276383
Marengo259967
Barbour246261
Pickens240062
Butler238272
Hale232778
Fayette225264
Henry209245
Monroe197241
Randolph196744
Cherokee196348
Washington180139
Macon168752
Crenshaw165558
Clay163759
Cleburne160245
Lamar149938
Lowndes144854
Wilcox130531
Bullock126142
Conecuh119630
Coosa116929
Perry109928
Sumter109032
Greene98736
Choctaw64325
Out of AL00
Unassigned00
Tupelo
Clear
96° wxIcon
Hi: 97° Lo: 78°
Feels Like: 109°
Columbus
Partly Cloudy
94° wxIcon
Hi: 95° Lo: 78°
Feels Like: 108°
Oxford
Partly Cloudy
93° wxIcon
Hi: 95° Lo: 75°
Feels Like: 101°
Starkville
Partly Cloudy
93° wxIcon
Hi: 95° Lo: 76°
Feels Like: 105°
Very hot and very humid conditions linger in our area for our Saturday. However, the heat and humidity start to dwindle a bit as we go into our Sunday and beyond. As a matter of fact below normal high temperatures for this time of year.
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