By Nandita Bose and Nathan Layne CHICAGO (Reuters) - U.S. shoppers seeking to avoid the holiday crowds at bricks-and-mortar stores and snare deals on Cyber Monday came face-to-face with traffic jams and product sellouts, with some customers of Target Corp forced to wait in a virtual line. Sales on Cyber Monday, traditionally the busiest day of the year for Internet shopping, were up 14 percent from a year earlier at $490 million between midnight and 10 a.m. ET, according to Adobe Digital Index, part of Adobe Systems Inc, which provides digital marketing and media solutions to merchants. "Consumers are hyped for Cyber Monday, with social buzz more positive than what we saw on Black Friday, but they need to brace themselves for the highest out-of-stock rates of the season so far," said Tamara Gaffney, principal analyst at Adobe Digital Index.
By David Shepardson WASHINGTON (Reuters) - Volkswagen AG and the Justice Department want a U.S. judicial panel to centralize in Detroit hundreds of civil lawsuits alleging the German automaker defrauded consumers and shareholders, according to court filings. The U.S. Multi-District Litigation panel will hold a hearing Dec. 3 in New Orleans to determine if and where to consolidate more than 350 lawsuits that stem from the automaker's admission in September that it installed illegal software in nearly 500,000 vehicles to circumvent U.S. diesel emission tests. Earlier this month, U.S. regulators also said VW installed "defeat devices" to cheat emission standards in 85,000 larger cars and SUVs.
The Federal Trade Commission (FTC) may again delay its decision on the deal, seeking more concessions from Staples, the Post reported, citing two people familiar with the matter. Two of the four FTC commissioners looking into the deal are believed to oppose it, the newspaper reported. Staples' shares fell 1.8 percent to $12.09 in afternoon trading, while Office Depot was down 1.8 percent at $6.63.
Anheuser-Busch InBev's bid to buy its biggest rival, SABMiller, will be the subject of a U.S. Senate hearing next week, the Senate Judiciary Committee said on Monday. AB InBev, whose takeover of SABMiller would be one of the largest mergers in corporate history, formally announced early in November that it would buy SABMiller for $106 billion. The hearing will be held by the Judiciary Committee's antitrust subcommittee on Dec. 8, the committee said in a brief statement.