What happened on November 12, 1987?

Headlines from November 12, 1987

• ✈️ British Airways Merger – British Airways received conditional government approval to acquire British Caledonian Airways, enhancing its market position.
• ⚖️ Reagan Nominates Kennedy – President Reagan nominated Judge Anthony Kennedy to the Supreme Court, seeking bipartisan support for confirmation.
• 🌍 Aid for Africa – Major donors are nearing an agreement to provide over $1 billion annually in emergency aid to the poorest African nations.
• 🎨 Van Gogh Record Sale – Van Gogh's painting 'Irises' was sold at Sotheby's for $53.9 million, setting a new record for an artwork.
• 📉 Jobless Benefits Crisis – A report reveals that nearly three-quarters of jobless workers in the U.S. received no unemployment benefits, the highest in 30 years.
• 📈 ASEA Merger Approved – Shareholders approved the merger of ASEA A.B. and BBC Brown Boveri, forming the world's largest electrical engineering group.
• 🏛️ Arab Summit Progress – Arab leaders agreed to restore diplomatic relations with Egypt, signaling a shift in regional politics.
• 💼 Mexico-Canada Trade Talks – Mexico and Canada are negotiating a new trade agreement similar to the one recently signed with the U.S.
• 🏦 Bank Failures Rise – Three banks in the Western U.S. failed, bringing the total for the year to 159, according to the FDIC.
• 📊 U.S. Budget Talks Progress – Negotiators from the White House and Congress are moving closer to a plan to reduce the federal deficit by $25 billion.