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December 23, 2024AP-Newswatch
December 23, 2024Business News
AP-Summary Brief-Business
December 23, 2024
Nissan and Honda to attempt a merger that would create the world’s No. 3 automaker
TOKYO (AP) — Japanese automakers Nissan and Honda have announced plans to work toward a merger that would catapult them to a top position in an industry in the midst of tectonic shifts as it transitions away from its reliance on fossil fuels. The two companies said they signed an agreement on integrating their businesses on Monday. Smaller Nissan alliance member Mitsubishi Motors agreed to join the talks. News of a possible merger surfaced earlier this month. Japanese automakers face a strong challenge from their Chinese rivals and Tesla as they make inroads into markets at home and abroad.
What a merger between Nissan and Honda means for the automakers and the industry
BANGKOK (AP) — Japanese automakers Honda and Nissan will attempt to merge and create the world’s third-largest automaker by sales as the industry undergoes dramatic changes in its transition away from fossil fuels. The two companies said they had signed a memorandum of understanding on Monday and that smaller Nissan alliance member Mitsubishi Motors also had agreed to join the talks on integrating their businesses. Honda will initially lead the new management, retaining the principles and brands of each company. Following is a quick look at what a combined Honda and Nissan would mean for the companies, and for the auto industry.
Nordstrom to be acquired by Nordstrom family and a Mexican retail group in $6.25 billion deal
Century-old department store Nordstrom has agreed to be acquired and taken private by Nordstrom family members and a Mexican retail group in a $6.25 billion deal. Nordstrom shareholders will receive $24.25 in cash for each share of Nordstrom common stock, representing a 42% premium on the company’s stock as of March 18. Nordstrom’s board of directors unanimously approved the the proposed transaction, while Erik and Pete Nordstrom — part of the Nordstrom family taking over the company — recused themselves from voting. Following the close of the transaction, the Nordstrom Family will have a majority ownership stake in the company.
An analyst looks ahead to how the US economy might fare under Trump
WASHINGTON (AP) — President-elect Donald Trump won a return to the White House in part by promising big changes in economic policy — more tax cuts, huge tariffs on imports, mass deportations of immigrants working in the United States illegally. In some ways, his victory marked a repudiation of President Joe Biden’s economic stewardship and a protest against inflation. It came despite low unemployment and steady growth under the Biden administration. What lies ahead for the economy under Trump? Paul Ashworth of Capital Economics spoke recently to The Associated Press. The interview has been edited for length and clarity.
American consumers feeling less confident in December, Conference Board says
American consumers are feeling less confident in December, a business research group says. The Conference Board said Monday that its consumer confidence index fell back in December to 104.7 from 112.8 in November. Consumers had been feeling increasingly confident in recent months. The consumer confidence index measures both Americans’ assessment of current economic conditions and their outlook for the next six months. The measure of Americans’ short-term expectations for income, business and the job market tumbled more than a dozen points to 81.1. The Conference Board says a reading under 80 can signal a potential recession in the near future.
The internet is rife with fake reviews. Will AI make it worse?
Researchers and watchdog groups say the emergence of generative artificial intelligence tools that allow people to efficiently produce detailed and novel online reviews has put merchants, service providers and consumers in uncharted territory. Phony reviews have long plagued many popular consumer websites, such as Amazon and Yelp. But AI-infused text generation tools enable fraudsters to produce reviews faster and in greater volume, according to tech industry experts. The deceptive practice is illegal in the U.S. and becomes a bigger problem for consumers during the holiday shopping season, when many people rely on reviews to buy gifts. A tech company and watchdog group that uses software to detect fake reviews says AI-generated reviews have multiplied.
Romanian lawmakers narrowly approve new pro-European coalition during period of political turmoil
BUCHAREST, Romania (AP) — Romanian lawmakers have voted narrowly in favor of a new pro-European coalition government led by incumbent Prime Minister Marcel Ciolacu. The move on Monday could usher in an end to a protracted political crisis in the European Union country following the annulment of a presidential election. Parliament approved the new administration in a 240-143 vote in the 466-seat legislature. The new coalition is made up of the leftist Social Democratic Party, the center-right National Liberal Party, the small ethnic Hungarian UDMR party and national minorities. President Klaus Iohannis swore in the new government on Monday night.
Stock market today: Wall Street rises at the start of a holiday-shortened week
Stock indexes are rising in afternoon trading on Wall Street at the start of a holiday-shortened week. The S&P 500 rose 0.6% Monday. Several big technology companies helped support the gains. The Dow Jones Industrial Average was up 29 points, or 0.1%, and the Nasdaq composite rose 0.8%. Japanese automakers Honda Motor and Nissan Motor said they are talking about combining in a deal that might also include Mitsubishi Motors. Eli Lilly rose after announcing that regulators approved Zepbound as the first prescription medicine for adults with sleep apnea. Treasury yields rose in the bond market.
AI will eavesdrop on world’s wildest places to track and help protect endangered wildlife
PUERTO JIMÉNEZ, Costa Rica (AP) — A biologist hid 350 audio monitors across Costa Rica’s tropical rainforests to spy on endangered spider monkeys in order to help protect them. But she had to go back to collect the data and feed those sounds into artificial intelligence systems that can recognize monkey calls. Now tech giant Microsoft’s philanthropic arm is hoping to supercharge AI-assisted wildlife research with new solar-powered devices that can capture sounds, images and other wilderness data for a year or more without human intervention. Researchers say more AI wildlife surveillance is urgently needed to monitor the health of species at risk of extinction.
Many Americans have come to rely on Chinese-made drones. Now lawmakers want to ban them
WASHINGTON (AP) — The economic and technological rivalry between the U.S. and China has come to the drone market, where Chinese-made flying devices are a dominant player in America. Lawmakers in Washington are seeking to ban new sales of Chinese-made drones, arguing they could be used to spy on Americans and that the low-cost models are hurting the U.S. drone industry. But U.S. users — spanning from police officers to farmers to mappers and filmmakers — have come to rely on Chinese-made drones, especially those by DJI Technology, for their work or lives. Florida has banned Chinese drones in state-funded programs, but also appropriated $25 million to help offset replacement costs.