AP NEWS

Business Highlights

November 28, 2019 GMT

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Angry China weighs options as Trump backs Hong Kong bills

BEIJING (AP) — China’s fury over President Donald Trump’s decision to sign legislation supporting human rights in Hong Kong is evident. What’s less clear is what “countermeasures” Beijing may take in response to what it said Thursday were “extremely evil” and dangerous moves. Trump said he was concerned that trade talks with China might be disrupted, but analysts say the potential consequences could extend beyond the current round of negotiations.

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Holiday stress: Amazon, others under gun for 1-day delivery

NEW YORK (AP) — Buy something online this holiday season and you’ll set off a 24-hour race to your door. Amazon, Walmart and others are promising to deliver more of their goods in a day. It’s a feat that requires not just additional planes and vehicles, but more workers, piles of cash and data to help retailers prepare and predict what shoppers may buy.

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Seattle’s WTO trade protests still relevant 20 years later

SEATTLE (AP) — Saturday marks 20 years since tens of thousands of protesters converged on Seattle and disrupted a major meeting of the World Trade Organization. The protesters’ message was amplified not just by their vast numbers but by the response of overwhelmed police, who fired tear gas and plastic bullets and arrested nearly 600 people. Two decades later, many of their causes are still relevant.

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AP Interview: Ex-Polish president defends Biden and Burisma

WARSAW, Poland (AP) — A former Polish president who is on the board of Ukrainian gas company Burisma says Hunter Biden was indeed chosen to join its advisory board because of his name. But Aleksander Kwasniewski (kvash-NYEF-skee) says that’s just how business works. The former president tells The Associated Press in an interview that Biden was an active board member who helped the company. He says Hunter Biden he never used his relationship with his father to further the company’s interests.

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Wynn Resorts settles with pension funds over sex allegations

RENO, Nev. (AP) — Wynn Resorts agreed Wednesday to accept $41 million from former CEO and chairman Steve Wynn and insurance carriers as part of a settlement stemming from shareholder lawsuits accusing company directors of failing to disclose the casino mogul’s alleged pattern of sexual misconduct. The company said in a statement neither its current or former directors or officers were found to have committed any wrongdoing in connection with the pending settlement. Wynn would pay $20 million himself.

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World shares retreat after Trump approves Hong Kong bill

BEIJING (AP) — World shares are down after U.S. President Donald Trump signed a bill expressing support for human rights in Hong Kong. China reacted with indignation to the legislation, which could escalate tensions as the sides seek a trade deal. Benchmarks fell in Paris, London and Tokyo. Overnight, the S&P 500, Dow Jones Industrial Average and Nasdaq composite closed at all-time highs. U.S. markets were closed on Thursday for Thanksgiving.

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Michigan, Illinois set to usher in recreational pot sales

ANN ARBOR, Mich. (AP) — Legal marijuana sales to adults are set to open in two Midwestern states. But regulators and industry leaders alike warn that consumers will likely see long lines, high prices and product shortages in the early months. Michigan sales can begin Sunday and Illinois follows a month later, bringing the total of states that broadly allow people over 21 to use marijuana to 11. Companies are rushing to complete renovations at dispensaries, expand growing facilities and hire employees.

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Ban Black Friday? French activists, lawmakers want to try

PARIS (AP) — Dozens of French activists blocked an Amazon warehouse south of Paris in a Black Friday-inspired protest. The action came amid increased opposition to the post-Thanksgiving sales phenomenon. A group of French lawmakers wants to ban it altogether. The protesters spread hay and old refrigerators and microwaves on the driveway leading to the warehouse. They argue Black Friday leads to over-production that hurts the planet.

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Panasonic leaves semiconductor business with Taiwan sale

TOKYO (AP) — Japanese electronics manufacturer Panasonic Corp. is abandoning the semiconductor business with the sale of its last business in that sector to a Taiwanese company. Panasonic said Thursday it was transferring the semiconductor business operated by Panasonic Semiconductor Solutions Co. to Nuvoton Technology Corp.

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Nissan invests in production to prepare for electric age

YOKOHAMA, Japan (AP) — Nissan is investing 33 billion yen ($303 million) in its flagship auto plant in Japan’s Tochigi prefecture in a first rollout of a production system geared toward electric vehicles. Nissan Motor Co. Executive Vice President Hideyuki Sakamoto said Thursday that manufacturing methods must change because vehicles increasingly have both hybrid and electric engines and new parts for connectivity and artificial intelligence services.