From NPR News in Washington, I’m Lakshimi Singh.
A holiday shopping frenzy is well underway across the nation, but Black Friday turned into a two-day affair when some major retailers decided to open their doors yesterday in the hopes of convincing discount hunters to head straight from dinner to the mall. As Danielle Karson reports, retailers are hoping this season delivers a much-needed shot in the arm to a still sluggish economy.
As many as 147 million Americans are expected to cram stores this weekend. Retailers racked up more than 11 billion dollars in sales over Black Friday weekend last year and are expected to top that this year. Analyst Kent Pergon says retailers are ready.
“Once you have them in the store, you do not want to lose them. So retailers are doing all they can in that particular area, marketing on social media sites, trying to get out the deals on those platforms as well.”
Many retailers are also sharpening their competitive edge by offering price matching and same-day delivery. Analysts say it’s a worthy effort. Stores can rake in as much as 10% of their holiday sales over Thanksgiving weekend. For NPR News, I’m Danielle Karson.
Wal-Mart is declaring this to be its best Black Friday ever, but that news may be overshadowed by protests outside Wal-Mart stores across the nation. Workers are demanding higher pay and better health care for hourly employees. A group backed by the United Food and Commercial Workers Union says several hundred people are involved. The company says that figure is “grossly exaggerated.”
European Union leaders have ended their summit in Brussels without a long-term budget deal. They’re negotiating over the equivalent of a 1.25-trillion-dollar plan. British Prime Minister David Cameron is calling for restraint.
“Who’s there to stand up for the taxpayer. Who is - which institution in Europe is there - rather like the Treasury - to say where’s the money gonna come from? Who’s gonna pay for this.”
EU leaders say they’ll hold another budget meeting in the coming weeks.
A Taliban suicide attack in eastern Afghanistan has killed three Afghanistan civilians and wounded more than 90 people. NPR’s Sean Carberry reported the assailant detonated a truck full of explosives near a provincial governor’s compound.
About a half dozen NATO service members sustained minor injuries in the explosion. But as is often the case in Taliban attacks, Afghan civilians were the primary victims. At least two died in the blast and many of the wounded have life-threatening injuries. The Taliban said that the attack was in response to the recent execution of four Taliban prisoners. The Afghan government executed 14 convicted criminals this week, the first executions in the country in more than a year. Human rights organizations have been highly critical of the executions, arguing that Afghanistan’s justice system is unable to guarantee fair trials, especially in death penalty cases. Sean Carberry, NPR News, Kabul.
At the close, Dow was up 173.
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The president of Egypt appeals for clam. Standing before a crowd of thousands, Egyptian President Mohammed Morsi defends his decision to give himself broad authority to rise above legal challenges, saying he needs more flexibility to work toward democratic change. His critics say it looks like the first steps of a dictatorship. The move prompted massive anti-Morsi protests in Egypt today.
A talented young musician has died. Pianist Austin Peralta died Wednesday at the age of 22. So far no cause of death has been reported. NPR’s Neda Ulaby reports Peralta was hailed as a jazz prodigy when he was only a teenager.
Austin Peralta released only three solo CDs. But from the age of 16, he played alongside established musicians who thought of him as a peer. Jazz icon Chick Corea, neo-soul singer Erykah Badu and rising star Frank Ocean, all appreciated how Peralta synthesized jazz with electronica and instrumental hip-pop. Peralta was a son of independent film director and skateboarder Stacy Peralta best-known for the documentary “Dogtown and Z-Boys.” Austin Peralta was based in Los Angeles but his following included fans, especially young ones from all over the world. Neda Ulaby, NPR News.
Wall Street was open only for a half-day session. On this day after Thanksgiving, the Dow ended up 173 points to settle at 13,010, NASDAQ gained 40 points, S&P 500 up 18.
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