Nelson Mandela emerged from 27 years in apartheid jails in 1990 pledging to seize South Africa’s mines and banks. Four years later, his government slashed spending and courted foreign investors, paving the way for the longest period of growth in the country’s history.
J.C. Penney Co., which earlier this week posted November sales that missed some analysts’ estimates, fell for the second straight day after hedge fund manager J. Kyle Bass said he sold his stake in the struggling retailer.
Asian stocks fell, with the regional benchmark index declining to a three-week low, amid concern signs of improvement in the U.S. jobs market will prompt the Federal Reserve to bring forward cuts to stimulus.
After the flood of Black Friday advertisements and mailings, it may be hard for Americans to imagine that there’s a place on earth where the Christmas season matters more to retailers than the U.S. There is: Britain.