Global free-trade talks collapse

Global free-trade talks collapse

GENEVA

Negotiators came close but failed Tuesday to clinch a free-trade deal that could have helped boost the world economy by $1 trillion a year and cleared the way for a broader global agreement.

Diplomats from the World Trade Organization’s 159 members had been trying to forge an agreement before a trade ministers’ meeting next week in Bali, Indonesia. Achieving a deal in Bali is seen as a final effort to revive a broader 12-year effort to ease global trade rules.

The lack of a global deal hasn’t prevented individual countries from seeking agreements among themselves. But experts say the failure to reach a global deal leaves poorer countries worse off.

More shoppers buy gifts for themselves

NEW YORK

Getting up early on Black Friday for a little shopping? Doing your part on Small Business Saturday and CyberMonday, too? It’s all in the name of gift-giving — or at least the guise of it.

It seems a lot of consumers are using these sales and retail events to treat themselves to a new little something.

As a group, self-shoppers are growing, says Marshal Cohen, chief analyst of The NPD Group, Inc., a consumer insight company. He puts the number at 20 percent, up from 5 percent in the early 2000s.

Confidence drops

WASHINGTON

U.S. consumers’ confidence in the economy fell in November to the lowest level in seven months, dragged down by greater concerns about hiring and pay in the coming months.

The Conference Board said Tuesday that its index of consumer confidence dropped to 70.4 from 72.4 in October. The October reading was higher than initially reported, but still well below the 80.2 reading in September.

November’s drop comes after the 16-day partial government shutdown caused confidence to plunge in October. The declines in both months were driven by falling expectations for hiring and the economy over the next six months.

Associated Press