Good morning, here’s your Friday morning briefing to set you up for the day ahead. Look out for these three things happening around the world today.
Retailers open doors on busiest day of the year
Retailers will be thrown into the holiday season today, on what is thought to be the busiest shopping day of the year. With Thanksgiving over, retailers will kick off Christmas by slashing prices on their products to entice customers to begin their gift shopping.
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Known as Black Friday, each year stores lower their prices by more than 40% on average.
In the US alone, consumers spent more than $8bn on Black Friday last year, with spending expected to increase once again today.
Across the Atlantic, shoppers in the United Kingdom are expected to spend more than £1bn online shopping, with 80% of customers saying that they will avoid ‘busy’ shops today. While consumers have been happy to buy into the Black Friday craze, there are fears that it could further damage the struggling British high street.
French Commission advises on art restitution
A commission appointed by French President Emmanuel Macron will publish its report today on the restitution of art taken from former French colonies.
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By GlobalDataLast December, Macron promised to push for the return of thousands of pieces of art currently housed in French museums. These pieces were stolen by soldiers, political figures and scientific explorers over 200 years throughout France’s colonial period.
According to French media outlets that gained access to the report ahead of its release, it states that France will first return symbolic artefacts over the next 12 months. Museums will then have until 2022 to work with African authorities to inventory and return any stolen items. Reports suggest that it will be on museums to offer proof that items that have been legitimately acquired.
Hammond addresses DUP concerns
UK Chancellor Philip Hammond is scheduled to address members of the Democratic Unionist Party (DUP) ahead of its annual conference, which gets underway tomorrow.
There are fears that the DUP has lost confidence in the Conservative government that it helped to keep in power following the 2017 general election. Last week, the DUP failed to side with the government over a number of amendments to the Finance Bill, instead choosing to support a rival bill proposed by the Labour Party.
The rejection of the bill is thought to be in response to the Brexit Withdrawal Agreement published by EU and UK negotiators last week. The party has insisted that it will only support the Brexit deal agreed by Theresa May if the proposed Irish border backstop is ditched.
Without the support of the DUP, May could struggle to get her Brexit deal through parliament.
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