AP Business SummaryBrief at 11:40 p.m. EST

By The Associated Press

Big Lots reaches deal to keep hundreds of US stores open

The discount chain Big Lots has reached a deal that will keep hundreds of its stores open. Big Lots said it will be sold to Gordon Brothers Retail Partners, which specializes in distressed companies. Gordon Brothers will then transfer Big Lots’ stores to other retailers. Variety Wholesalers, which owns more than 400 U.S. discount stores, plans to acquire between 200 and 400 Big Lots stores and operate them under the Big Lots brand. Big Lots filed for bankruptcy protection in September, saying inflation and high interest rates had cut back on consumer demand for its furniture and other products.

Charles Dolan, HBO and Cablevision founder, dies at 98

Charles Dolan, who founded some of the most prominent U.S. media companies including Home Box Office Inc. and Cablevision Systems Corp., has died at age 98. Newsday reports that a statement issued Saturday by his family says Dolan died of natural causes. Dolan’s legacy in cable broadcasting includes founding HBO in 1972, Cablevision in 1973 and the American Movie Classics television station in 1984. He also launched News 12 in New York City, the first U.S. 24-hour cable channel for local news. Dolan also held controlling stakes in companies that owned Madison Square Garden, Radio City Music Hall, the New York Knicks and the New York Rangers.

Trump asks Supreme Court to delay TikTok ban so he can weigh in after he takes office

President-elect Donald Trump has asked the Supreme Court to pause the potential TikTok ban from going into effect until his administration can pursue a “political resolution” to the issue. Trump’s request Friday came as TikTok and the Biden administration filed opposing briefs to the court. Oral arguments are scheduled for Jan. 10 on whether the law, which requires TikTok to divest from its China-based parent company or face a ban, unlawfully restricts speech in violation of the First Amendment. The brief said Trump opposes banning TikTok at this junction and “seeks the ability to resolve the issues at hand through political means once he takes office.”

Stock market today: Wall Street slips as the ‘Magnificent 7’ weighs down the market

NEW YORK (AP) — Stocks are closing lower as Wall Street ends a holiday-shortened week on a down note. The S&P 500 fell 1.1% Friday and the Dow Jones Industrial Average lost 333 points, or 0.8%. The Nasdaq composite dropped 1.5%. The “Magnificent 7” stocks weighed on the market, led by declines in Nvidia, Tesla and Microsoft. Even with the loss, the S&P 500 had a modest gain for the week and is still headed for its second consecutive annual gain of more than 20%, the first time that has happened since 1997-1998. The yield on the 10-year Treasury rose to 4.62%.

10 tips from experts to help you change your relationship with money in 2025

NEW YORK (AP) — As the calendar changes to 2025, you might be thinking about how to approach your relationship with money in the new year. Whether you’re saving to move out of your parents’ house or pay off student loan debt, financial resolutions can help you stay motivated. If you’re planning to make financial resolutions for the new year, experts recommend that you start by evaluating the state of your finances in 2024. Then, set specific goals and make sure they’re attainable for your lifestyle.

Janet Yellen tells Congress US could hit debt limit in mid-January

WASHINGTON (AP) — Treasury Secretary Janet Yellen says her agency will need to start taking “extraordinary measures,” or special accounting maneuvers intended to prevent the nation from hitting the debt ceiling, as early as January 14th, in a letter sent to congressional leaders Friday afternoon. The department has taken such action in the past. But once those measures run out the government risks defaulting on its debt unless lawmakers and the president agree to lift the limit on the U.S. government’s ability to borrow.

An online debate over foreign workers in tech shows tensions in Trump’s political coalition

WEST PALM BEACH, Fla. (AP) — An online spat between factions of Donald Trump’s supporters over immigration and the tech industry has thrown internal divisions in the president-elect’s political movement into public display. The argument previews fissures and contradictory views his coalition could bring to the White House. The rift laid bare tensions between the newest flank of Trump’s movement — that is, wealthy members of the tech world who want more highly skilled workers in their industry — and people in Trump’s Make America Great Again base who championed his hardline immigration policies.

A 9th telecoms firm has been hit by a massive Chinese espionage campaign, the White House says

WASHINGTON (AP) — A top White House official says a ninth U.S. telecoms firm has been confirmed to have been hacked as part of a sprawling Chinese espionage campaign that gave officials in Beijing access to private texts and phone conversations of an unknown number of Americans. Administration officials said this month that at least eight telecommunications companies, as well as dozens of nations, had been affected by the Chinese hacking blitz known as Salt Typhoon. But Anne Neuberger, a deputy national security adviser, said Friday that a ninth victim had been identified after the administration released guidance to companies about how to hunt for Chinese culprits in their networks.

Canadian Cabinet ministers meet with Trump’s nominee for commerce secretary in bid to avoid tariffs

TORONTO (AP) — Two top Canadian Cabinet ministers have met with President-elect Donald Trump’s nominee for commerce secretary at Mar-a-Lago as Canada tries to avoid sweeping tariffs when Trump takes office. New Finance Minister Dominic LeBlanc and Foreign Minister Mélanie Joly met with Howard Lutnick, Trump’s nominee for commerce secretary, as well as North Dakota Gov. Doug Burgum, Trump’s pick to lead the Interior Department. The meeting was a follow up to Canadian Prime Minister Justin Trudeau’s meeting with Trump at Mar-a-Lago last month. Trump has threatened to impose sweeping tariffs if Canada does not stem what he calls a flow of migrants and fentanyl into the United States.

Most Americans blame insurance profits and denials alongside the killer in UHC CEO death, poll finds

WASHINGTON (AP) — Most Americans believe health insurance profits and coverage denials share responsibility for the killing of UnitedHealthcare’s CEO — although not as much as the person who pulled the trigger. So says a new poll from NORC at the University of Chicago. It finds that about 8 in 10 Americans say that the person who committed the killing has “a great deal” or “a moderate amount” of responsibility for the Dec. 4 shooting of Brian Thompson. Still, some see suspect Luigi Mangione as a heroic figure. About 7 in 10 adults say coverage denials or health insurance profits also bear at least “a moderate amount” of responsibility for Thompson’s death.