Today’s Top Business News – The Los Angeles Tribune
- Millions of Americans hit stores for Black Friday, but some retailers are scaling back doorbusters and trying to get consumers to do more holiday shopping online.
- Global airline shares fell amid concerns that the new variant could take hold elsewhere and trigger broader travel curbs just as many parts of the world start to fly again.
- Three senators conveyed concern in a telephone call with the Banking Committee chairman, likely scuttling Saule Omarova’s chances of confirmation as head of the Office of the Comptroller of the Currency.
- The president is racing to show the public that he is taking action to address rising prices and bottlenecks amid mounting anxiety among some of his advisers about political fallout heading into next year’s midterm elections.
- South Africa’s warning of a new strain of coronavirus walloped the energy sector, leading to the sharpest declines in oil prices since the global economy locked down early last year to slow the spread of the virus.
- The deadline for requiring U.S. workers to be vaccinated or tested weekly for Covid-19 is fast approaching, but uncertainty about how legal fights over the mandate will play out has left companies in limbo on how best to prepare.
- CEO Daniel Zhang is devolving power to the heads of the company’s business units to speed up decision making so each division can better fend off competition and revitalize flagging sales.
- An experimental Covid-19 pill from Merck and partner Ridgeback was 30% effective in a final analysis of study results, the companies said, down from the 50% rate found in an earlier look.
- China’s tech giants are feeling the pinch of an economic slowdown, adding financial pressure to an industry beset by a bevy of new regulations this year.
- A crane operator, a ship captain, a trucker and other logistics workers describe what it’s like to work amid backed-up shipments, jammed ports and packed rail yards.