The big picture: Shoppers are projected to spend between $979.5 billion and $989 billion during the Christmas season, per an annual survey from the National Retail Federation and Prosper Insights & Analytics.
The Consumer Financial Protection Bureau filed a lawsuit against Walmart and its fintech partner, Branch Messenger, over a worker payment program that allegedly forced last-mile drivers to open costly deposit accounts to get paid.
Why it matters: The CFPB is issuing a flurry of enforcement actions and rules proposals in the waning days of the Biden administration.
Why it matters: The deal values the luxury department store retailer founded in 1901 at $6.25 billion, ending a nine-month saga and giving Nordstrom a chance to right the ship as a private entity.
Why it matters: It is a first step toward possible measures, like tariffs, that might seek to squeeze China-made chips out of U.S. products. But with one month left in office, the fate of the investigation — and the ultimate remedies — rests with President-elect Trump.
President-elect Trump demanded Panamanian authorities either lower fees for U.S. ships to transit the Panama Canal, or return its control to the United States.
Why it matters: The U.S. ceded one of the world's most crucial pieces of infrastructure in 1999, and China has become increasingly influential in its operations since.