Your Evening Briefing
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Black Friday isn’t what it once was (a frenzied, sometimes violent display of mass consumerism at your local mall), but retailers are still holding out hope for strong sales in the face of an impending retail apocalypse. For them, the good news is that an estimated 69 percent of Americans will shop online or at brick-and-mortar stores during the Thanksgiving long weekend. The better news is for Jeff Bezos, founder of Amazon.com, whose fortune hit the $100 billion mark just in time for Cyber Monday.—Katie Robertson
The GOP tax plan enters its make-or-break week. Senate Republicans' $1.4 trillion tax overhaul is headed into the back-stretch next week, with a vote expected as early as Thursday—a dramatic moment that may come after a marathon debate in which Democrats will seek to delay or derail the measure. The GOP must win over at least 50 of its 52 members in the chamber to prevail.
At least 235 people were killed in an attack on an Egyptian mosque. Militants armed with guns and explosives stormed the Rawda mosque in northern Sinai during Friday prayers, killing and wounding hundreds of people in the deadliest single attack in the country in years. Attacks on mosques are rare in Egypt, where the majority of the population is Muslim. The targeted mosque is frequented by Sufis, who follow a mystical interpretation of Islam considered heretical by jihadist movements such as Islamic State.
Tesla’s newest promises break the laws of batteries.While introducing two new vehicles last week—the heavy-duty Semi Truck and the speedy Roadster—Elon Musk touted ranges and charging times that don’t compute with the current physics and economics of batteries. Experts suspect Tesla may be banking on technological improvements between now and when new vehicles are actually ready for delivery.
Broken incentives are pushing drugmakers away from an opioid solution, according to economists and industry experts. The payment policies of insurers and government health programs, along with pressure from investors, have encouraged drugmakers to treat the symptoms of the opioid epidemic but discouraged innovations that might get to the root of the problem.
Your future commute could be by taxi drone. A Chinese startup has developed a flying car that it plans to roll out as soon as next year. EHang’s E-184 drone can carry one passenger in its small cockpit, but the firm said it’s working on a model that can carry two. They plan to be in operation as “taxi drones” in Dubai in 2018—as long as they get approval from regulators.
How Adidas beat Nike at the old school game. Nike put a huge amount of effort into rebooting a vintage sneaker, the Cortez, after consumers fell for a similar tactic by Adidas in recent years. But despite the huge push, customers just didn’t buy it. But the company isn’t giving up just yet. Nike announced that it’s working on a new version of the Cortez with Lamar.
The arms race for wrists shifts into high gear. After spending a month with the new Fitbit Ionic smartwatch, Bloomberg’s Jason Kelly was addicted. He writes that the new gadget “caters to the fickle habits of today’s daily athlete, with a menu of exercise-tracking measurements that start with running, biking, and swimming.”