Business Briefs – November 28, 2016

Cyber Monday Transforms as Shoppers Are More Connected

NEW YORK (AP) – The Monday after Thanksgiving is still a time when millions of Americans shop, but a one-day Cyber Monday frenzy appears to be going the way of the dial-up modem.

Shoppers who have high-speed connections at home and on their phones are pouncing on deals that stores are spreading out over several days, leaving the so-called Cyber Monday online shopping bonanza in danger of losing its title as the top online sales day.

So retailers are shifting to a stream of discounts and alerts during the entire week via email and social media.

Global Economic Agency Urges More Infrastructure Spending

PARIS (AP) – An international economic agency said Monday that the kind of infrastructure spending promised by U.S. President-elect Donald Trump could boost global growth, but warned that protectionist tendencies hurt prosperity.

The Organization for Economic Cooperation and Development hit an upbeat note in its latest world economic outlook Monday, thanks in part to stimulus efforts planned in the U.S. and China. It raised its forecasts for global growth to 3.3 percent for next year, up from 3.2 percent.

The intergovernmental agency’s chief noted that markets have rallied on Trump’s promises to cut taxes and increasing infrastructure investments, but said it remains unclear how many of those pledges Trump can or will fulfill.

Delta Bans Rude Pro-Trump Passenger for Life, Gives Refunds

ALLENTOWN, Pa. (AP) — Delta Air Lines is banning for life a passenger who rudely professed his support for President-elect Donald Trump and insulted those who didn’t on a flight, the company’s CEO said Monday. The airline is also refunding the cost of tickets for other passengers on the Nov. 22 flight from Atlanta to Allentown, Pennsylvania.

Massachusetts Uber, Lyft Screenings Called Toughest in U.S.

BOSTON (AP) – Drivers for ride-hailing companies Uber and Lyft will undergo what state officials call the most comprehensive background checks in the U.S. under agreements announced Monday by Gov. Charlie Baker’s administration.

The screenings will begin on Jan. 6, with both companies guaranteeing that every driver on the road will have passed a thorough state criminal background check by April 3, according to the separately negotiated deals.

The new Massachusetts protocols set a “national standard” for screening those who drive for the ride-hailing firms, Baker said.

Thousands Protest Across India Against Currency Policy

NEW DELHI (AP) – Thousands of people demonstrated across India on Monday to protest the government’s decision to withdraw large-denomination currency from circulation, which has caused enormous hardship to millions of people in its predominantly cash-based economy.

Nearly three weeks ago, Prime Minister Narendra Modi announced that 500- and 1,000-rupee notes would become worthless overnight and would be replaced by new currency in a bid to stamp out corruption and tax evasion.

The surprise decision pulled 86 percent of the country’s money supply out of circulation, leading to serpentine lines at banks, which often ran short of currency, showing that the government was ill-prepared for the move.