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Report: Indian leaders object to direct foreign investment
New York City -- Five state leaders in India made clear over the weekend their unwillingness to let foreign retailers set up shop in the country, the Associated Press reported.
Parliament adjourned Monday in an uproar over the issue and Communist Party-controlled trade unions have pledged to strike Thursday, the report said, and some politicians even threatened to burn down foreign stores that open under the new rules.
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A record day for retail
The combination of earlier than ever opening hours, favorable weather and deal conscious consumers receptive to heightened promotional activity produced record sales over Thanksgiving weekend.
The National Retail Federation said an estimated 226 million shoppers visited stores and websites over Thanksgiving weekend, compared with 212 million last year, and spent an average of $398 per person, compared with $365 last year. Those findings are based on an NRF survey of 3,826 shoppers conducted over the weekend by BIGresearch.