Short Session for Wall Street

Wall Street opens for an abbreviated session today following yesterday's Thanksgiving holiday. The Dow Jones industrial average begins the day at 6,499.34, after losing 29.07 points Wednesday in profit taking. Investors looking to cash in profits today will have only until the market closes at 1 p.m. EST. The Nasdaq index opens at a record 1,287.32. The technology-heavy Nasdaq gained 6.12 points Wednesday to continue a four-session string of record closes. Analysts say the bull market appears to be raging on despite some nervousness that a correction may be on the horizon. Investors will have some economic data to mull today over as the Commerce Department releases personal income for October. In Tokyo today, the Nikkei closed down 15.18 points at 21,020.36. The dollar was trading at 113.67 yen.

Truckers Continue Blockade

French truckers plan to keep their roadblocks in place for a 12th day today, in a protest sending shockwaves across Europe's economies. The strike has cost European food and trucking industries tens of millions of dollars a day, prompting protests from France's neighbors. Prime Minister Alain Juppe says the dispute will soon have dire economic consequences and has to be settled urgently. But he's ruled out using force to clear the barricades set across some 250 roads, around 150 fuel depots and at the country's 13 oil refineries. The roadblocks have forced closure of some factories and prompted widespread gas rationing.

Fokker Appears Doomed

One of the world's oldest aviation firms appears doomed to go out of business. Last-ditch negotiations to rescue bankrupt Dutch firm Fokker have collapsed and officials say it appears the company is headed for an undignified demise on the auction block. Talks with Korean conglomerate Samsung fell through after a key Fokker supplier said it would no longer supply wings for Fokker aircraft. The 77-year-old company has been hit by big losses in recent years as aircraft markets have stagnated.

OPEC Freezes Quota

In a bid to keep oil prices high, OPEC has agreed to a new six-month freeze on oil output quotas. OPEC ministers meeting in Vienna have agreed to a ceiling of 25 million barrels per day until next summer. OPEC hopes the move will keep oil prices at their already high levels despite Iraq's likely resumption of exports. The United Nations is close to lifting a ban on Iraqi oil exports imposed in 1990. Oil prices stayed firm on news of the OPEC move, with benchmark North Sea Brent Blend crude trading just below $22.90 a barrel.

Christmas Tree Sales Up

The Christmas tree industry is on the rebound. Sales of real trees had been slumping with surveys showing many consumers were switching to artificial trees partly out of concern over deforestation. But a campaign to counter that perception apparently has paid off. Growers expect to sell 37 million trees this season. That's four million more than in 1994. Growers say nostalgia of baby boomers-turned-parents has also helped spur demand. Despite the stronger demand, growers say prices should be about the same as last year.

Record Companies Seek Help

The world's major record companies are calling for a new treaty to protect copyrights on the Internet. Industry officials are urging the adoption of new legislation at a United Nations conference on intellectual property and copyrights starting in Geneva Monday. An executive at Dutch record company PolyGram says the industry risks losing billions of dollars because new technologies now allow consumers of popular music to pull audio off the Internet and the electronic marketplace.

UN Advocates Female Condoms

The United Nations has joined forces with a contraceptive manufacturer to market a female condom in a bid to fight the still-growing AIDS epidemic. The U.N.'s agency on AIDS says female condoms are an important new weapon against infection. The Chicago-based Female Health Company says it has signed a three-year agreement with the U.N. agency "to provide a global public sector price for the female condom." Each of the 193 countries taking part in the U.N. AIDS project can buy the condom in bulk at a discount.

Canadian Air in Trouble

Canadian Airlines has hit some heavy turbulence. Canada's second largest airline is struggling to avert bankruptcy amid heavy financial losses. The company says it plans to push ahead with a $52 million rescue plan, despite opposition from two of its biggest unions. The survival plan includes government assistance and wage concessions. But the Canadian Auto Workers union and the Canadian Union of Public Employees have refused to agree to pay cuts. Company President Kevin Benson says he's decided to proceed with the plan in hopes the holdout unions will ultimately agree.

Computer Gang Sought

European police are seeking 12 members of an international computer chip counterfeiting gang. The gang's activity was smashed and 12 other members arrested this week in raids in Germany and nine other countries. German police say the highly-organized ring specialized in smuggling old Intel Corp. Pentium chips into Europe and selling them as new. The group also sold illegal copies of Microsoft programs and counterfeit Hercules graphics adapters. Police say the ring caused damages of several millions of dollars in lost sales.

Canada Hikes Tobacco Taxes

The Canadian government has unveiled a sweeping new anti-tobacco strategy. The government package is aimed at countering tobacco use, especially among youth, and includes increased tobacco taxes. It also extends a surtax on tobacco makers' profits and bans advertising on television, radio and billboards. Starting today, excise taxes on a carton of 200 cigarettes jump by about one dollar a carton. The advertising ban is contained in legislation that would also restrict the use of tobacco brand names in sporting, music and other sponsored events.

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