- Reuters/Vasily Fedosenko
Here is what you need to know.
Black Friday online sales hit a record. US retailers raked in $7.9 billion of online sales on Thanksgiving Day and Black Friday, Reuters reports, citing Adobe Analytics.
Cyber Monday is here. Business Insider’s Insider Picks team sifted through all of Cyber Monday’s deals and singled out these 25 tech bargains.
Bitcoin threatens $10,000. The cryptocurrency climbed above $9,600 a coin in overnight action as the total market cap for cryptocurrencies broke $300 billion for the first time.
It takes a ton of electricity to mine bitcoin. PowerCompare.co.uk estimates that 29.05 terawatt hours of electricity have been used to mine bitcoin this year, more than the annual use of 159 countries.
Meredith is buying Time. Meredith will pay $1.8 billion, or $18.50 a share in cash, and assume $1 billion of debt to acquire properties such as Time, Sports Illustrated, People, Fortune, and Entertainment Weekly.
Macy’s had a Black Friday nightmare. The retailer’s credit-card system crashed nationwide at about noon ET on Friday and was down for several hours.
AstraZeneca forms a new joint venture in China. The drugmaker has created Dizal Pharmaceutical, a stand-alone business that will be equally owned by the Chinese Future Industry Investment Fund, Reuters says, citing the companies.
Jeff Bezos’ wealth crosses $100 billion. A Black Friday surge in Amazon’s stock price sent CEO Jeff Bezos’ wealth above $100 billion, making it the first time anyone has crossed that mark since organizations such as Forbes and Bloomberg began tracking the fortunes of the world’s richest.
Stock markets around the world trade mixed. Hong Kong’s Hang Seng (-0.6%) led the losses in Asia, and Britain’s FTSE (+0.34%) is out front in Europe. The S&P 500 is set to open higher by 0.12% near 2,605.
US economic is light. New-home sales will be released at 10 a.m. ET, and Dallas Fed manufacturing will cross the wires at 10:30 a.m. ET. The US 10-year yield is little changed near 2.35%.