Welcome to Finance Insider, Business Insider’s summary of the top stories of the past 24 hours.
The election of Donald Trump as the next US president filled many Americans with a sense of uncertainty.
As the holiday shopping season kicks off with Black Friday, the country is about to get an answer to a crucial question: What happens to the retail industry now that Trump has been elected?
Elsewhere in Black Friday headlines:
- Black Friday online sales are about to hit an all-time high — here are the top-selling items
- Amazon’s Black Friday deals are just getting started — these are the ones you should care about
- These are all of Walmart’s Black Friday deals you can get online this year
- Apple’s one-day shopping event is today, and the company is offering free gift cards up to $150
- Target has more online deals for Black Friday than ever before — here are the best ones so far
- We went to Walmart for Black Friday — and it was nothing like we expected
In deal news, Johnson & Johnson is looking to buy a nearly $20 billion drugmaker. China wants to impose “strict controls” on Chinese companies looking to invest abroad. And King Street Capital, a $19 billion hedge fund focused on the credit markets, is planning to launch its own collateralized loan obligation.
On Wall Street, Jefferies CEO Rich Handler and Chairman Brian Friedman sent an open letter to their staff expressing what they are grateful for this Thanksgiving. “We are thankful that our year is ending far better than it started and setting up for a hopefully very strong 2017,” the two said.
In markets news, Fitch just revised South Africa’s outlook to negative. Saudi Arabia reportedly plans to skip OPEC’s crucial meeting next week. The US services sector continued to expand in November, and new work orders for companies rose at the fastest pace in a year, according to Markit Economics.
And no matter what Trump does, manufacturing jobs are not coming back to the US, according to Paul Krugman.
In tech news, voice search has created a huge vulnerability at the heart of Google’s business. Twitter is giving Anthony Noto an additional $12 million a year in stock for his new job as COO. And an early investor in Starbucks and Facebook explained what is going to happen next in Silicon Valley.
Lastly, here are 7 rules for flying like a modern gentleman.
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