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• News of a catastrophic explosion dampened hopes in the search for an Argentine submarine and its crew of 44 that went missing on Nov. 15. Relatives and sailors at the naval base in the Argentine city of Mar del Plata reacted with grief and anger at Argentine authorities.
A spokesman for the Argentine Navy said the U.S. reported on Wednesday that an explosion, described as an “anomalous, short, violent” event, had been recorded a week earlier in the submarine’s last known vicinity.
A search at sea also continues near Okinawa, Japan, for three people missing after the crash of a U.S. Navy aircraft.
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• Hundreds of asylum seekers appear to be still holding out at a deserted Australian detention center on Manus Island. The authorities in Papua New Guinea stormed the compound on Thursday in an attempt to end a standoff that began when the camp was closed on Oct. 31.
Our Australia bureau chief, Damien Cave, said security forces tore through the men’s shelters and makeshift water tanks, destroying possessions, removing dozens and making arrests. Check back for our latest.
This week’s Australia newsletter tells the story behind Mr. Cave’s recent reporting trip to Manus — including how he and the photographer Adam Ferguson, who took the image above on that trip, were ejected.
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• It was Thanksgiving Day in the U.S. and millions turned out for the Macy’s Thanksgiving Day Parade in New York, one of the country’s largest. Here’s a look at some of the milestones and mishaps of the annual spectacle.
But for many families across an America battered by wildfires, hurricanes and mass shootings, this is the first major holiday since life was ripped apart.
Business
• The police in China detained seven people accused of running a $3 billion underground bank that helped more than 10,000 people move cash from the country, the state-run news media reported. The sums involved are enormous, large enough not only to affect China’s economy but also to resonate around the world.
• A striking boom in cosmetics is being driven by young shoppers influenced by videos, selfies and social media. Millennials are buying almost 25 percent more makeup than they did just two years ago, and significantly more than older consumer groups.
• It’s “Black Friday” in the U.S. The term has come to denote commercial excess, stupendous deals and big profits. But that’s not what it meant when the The Times first used the term in an article in 1870.
• Toshiba’s huge screen in Times Square in New York will be taken down after displaying the countdown on New Year’s Eve, part of the company’s drastic cost-cutting efforts.
• U.S. markets were closed for Thanksgiving. Here’s a snapshot of global markets.
In the News
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• A radioactive cloud traced to an area in the Ural Mountains, above, recalls the secretive way Russia handled a far more dangerous burst of radiation from the same area 60 years ago. [The New York Times]
• Michael Flynn, President Trump’s former national security adviser, has cut off ties with Trump lawyers, a sign that he is negotiating with the special counsel’s Russia investigation. [The New York Times]
• In India, anger erupted after the health minister from Assam State said cancer was divine justice for past sins. [Times of India]
• A.C. Milan is seeking a waiver from so-called financial fair play rules by claiming its new Chinese owner can stop the franchise from bleeding millions of euros each year. [The New York Times]
• The Ultimate Fighting Championship holds its first event in China on Saturday: a sold-out, 12-bout fight card in Shanghai that includes eight local fighters, led by Li (the Leech) Jingliang. [South China Morning Post]
• Kitasan Black, Japan’s reigning Horse of the Year, will try to repeat as champion of the Japan Cup on Sunday. Here’s what you need to know about the race. [The New York Times]
Smarter Living
Tips, both new and old, for a more fulfilling life.
• Your phone isn’t slow because a new phone was released: a conspiracy debunked.
• How to give your fridge a good, deep cleaning.
• Recipe of the day: This weekend, get ambitious with a recipe for sugarplum gingerbread cake.
Noteworthy
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• Fusion is back in Sydney, where our Australia Fare columnist found the Pazar Food Collective, a neighborhood restaurant inspired by Turkey and Mexico that hints at a borderless culinary future.
• In memoriam. Mona Fong Yat-wah, 83, a popular 1950s songstress who melded Chinese folk and European jazz, was a show business executive and the widow of the Hong Kong movie mogul Sir Run Run Shaw.
• And we looked at how a cell is able to turn back time. The biological mechanism underpinning a cleansing process in worms may one day help us restore our own damaged cells.
Back Story
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Britain is a country rich in tradition, and this week it exhibited one of its lesser — but still curious — bits of pomp.
On Wednesday, the chancellor of the Exchequer, Philip Hammond, left his official residence at No. 11 Downing Street (the prime minister is at No. 10) holding a small red box, above. He then traveled to Parliament to deliver his annual budget.
The box customarily contains the chancellor’s speech to the House of Commons.
The word “budget” comes from the old French word “bougette,” or little bag, drawing on a time when financial documents were carried in leather pouches. The British started using a box in the mid-1800s and kept the same one until, quite battered, it was replaced in 2010.
It is said that, in 1869, the chancellor, George Ward Hunt, arrived at Parliament only to realize that he had left his speech behind. Chancellors since have held the box aloft upon leaving home, a sight always dutifully photographed by assembled journalists.
The theatrics surrounding a new budget have been adopted by some of Britain’s former colonies, including India and the U.S., where the Government Publishing Office proudly displays copies of the White House’s spending plan before distributing them to Congress.
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Your Morning Briefing is published weekday mornings and updated online. Browse past briefings here.
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