Business Highlights

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World markets subdued as US trading shut for Thanksgiving

TOKYO (AP) — Global shares were subdued as trading activity was reduced Thursday as U.S. markets remained closed for the Thanksgiving holiday. Benchmarks in Europe ended the day with small losses on Thursday after Asia largely closed higher. Japan’s Nikkei 225 finished at its highest level in nearly three decades, since the nation’s “bubble economy” collapsed. U.S. markets were closed Thursday and open for a half day on Friday. The recent upbeat mood has been set off by news of the development of coronavirus vaccines and treatments. But mixed economic data has also driven home the fact that the economic damage from the pandemic will take time to heal.

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Holiday trends to watch: Adult Play-Doh; stores that ship

NEW YORK (AP) — The pandemic is turning this into a holiday shopping season like no other. Toy companies are targeting stuck-at-home grown-ups with latte-smelling Play-Doh and Legos that turn into Warhols. People who added a puppy to their family during the pandemic, will see tons of gift options for their new furry friend. And with more people shopping online, stores are doing double duty as shipping centers to try to get gifts to doorsteps faster.

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AP Exclusive: Letter from Venezuelan jail: ‘Give me freedom’

CARACAS, Venezuela (AP) — A U.S. oil executive jailed for three years in Venezuela says all he hopes for is a fair trial so that he can walk free, with his name cleared, and go home to his family in the United States. Tomeu Vadell says in a letter from prison provided to The Associated Press that it’s especially painful to be separated during the Thanksgiving season from from his wife, three adult children and a newborn grandson he’s never held. It’s the first time Vadell or the other five jailed executives of Houston-based Citgo have spoken publicly since being arrested and charged with a massive corruption scheme.

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France resumes tax on tech giants, seeks deal with US

PARIS (AP) — France is resuming collection of a special tax on Big Tech companies like Amazon and Facebook despite the threat of more U.S. retaliatory tariffs on French wines and other goods. The tax brought in about 400 million euros for the French budget last year. But the government agreed to suspend it this year in hopes that an international deal on taxing online companies could be reached by the end of the year. No such a deal has been reached, notably amid resistance from the Trump administration. So French Finance Minister Bruno Le Maire said Thursday that France will again levy the tax.

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EU parliament backs lobster deal and EU-US mini trade pact

BRUSSELS (AP) — The European Union parliament has approved a mini trade deal with the United States, which includes the elimination of customs duties on U.S. lobster imports. The passage with 638 votes for, 45 against and 11 abstentions was the last major political step for the deal to come into effect. The deal approved covers only a tiny portion of trans-Atlantic trade with the U.S., but the EU hopes it will have some symbolic value. And for the U.S. lobster industry, already hit hard by the coronavirus crisis, every piece of good news is welcome.

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Greece extends coronavirus lockdown by a week

ATHENS, Greece (AP) — Greece’s government has announced a weeklong extension to the country’s current lockdown, due to the continued spread of the coronavirus, particularly in the north of the country. The government spokesman said the lockdown, which was due to end on Nov. 30, would be extended to the morning of Dec. 7. The announcement came amid a 24-hour strike by civil servants on a variety of demands, including better workplace protections against the coronavirus. The strike disrupted public transport and services, while several hundred people defied a ban on gatherings imposed due to the pandemic, holding protests in Athens and the northern city of Thessaloniki. Greece currently has more than 97,000 confirmed coronavirus cases and just over 1,900 deaths in this country of 11 million.

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EU fines drug makers for keeping cheap medicine off market

BRUSSELS (AP) — The European Union has fined two pharmaceutical companies for colluding to keep a cheap alternative to a sleep disorder medicine off the market for their profit and at the expense of patients. The EU’s antitrust commissioner said that Teva pharmaceuticals and Cephalon, a company it later acquired, must pay the equivalent of $72 million. The EU says the companies had agreed among themselves to delay for years the launch of Teva’s cheaper version of Cephalon’s blockbuster Modafinil. In return for the delay, Teva got beneficial side deals and some payments. Teva maintained its innocence and said it would appeal.

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Farm Rescue shifts to help farmers sickened by coronavirus

A North Dakota-based volunteer organization that helps farmers when they are injured or otherwise impaired says it has helped a number of Midwest farmers who were incapacitated by the coronavirus. Since 2005, Farm Rescue has helped more than 700 farm families that have been unable to plant, harvest or feed livestock due to injury, illness or natural disaster. Founder Bill Gross says some farmers apply for help using an online application while others are referred to the organization, which has more than 1,000 volunteers all over the U.S. Farm Rescue will stream a country music benefit concert on YouTube on Dec. 9.