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James Carey Wood, better known as “Dawg”
January 8, 2025
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January 9, 2025
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AP-Summary Brief-Business

January 9, 2025

No more fact-checking for Meta. How will this change media — and the pursuit of truth?

The late New York Sen. Daniel Patrick Moynihan put it this way decades ago: “Everyone is entitled to his own opinion, but not his own facts.” That seems like a simpler time given Meta’s decision this week to end a fact-checking program on social media apps Facebook, Instagram and Threads. May are discussing what the ramifications for an industry built to bring clarity and to seek truth. Meta founder Mark Zuckerberg’s announcement was widely seen as a genuflection to president-elect Donald Trump. Meta is replacing its fact-checking with a “community notes” system reminiscent of X. stories win the day. The moment is a crossroads for the fact-checking industry.

TikTok’s fate arrives at Supreme Court in collision of free speech and national security

WASHINGTON (AP) — In a collision between free speech and national security, the Supreme Court will hear arguments over the fate of TikTok, a digital age cultural phenomenon that roughly half the U.S. population uses for entertainment and information. The case is being heard Friday. TikTok says it plans to shut down the social media platform in the U.S. by Jan. 19 unless the Supreme Court strikes down or otherwise delays the effective date of a law aimed at forcing TikTok’s sale by its Chinese parent company. Enforcement of the law would be left to the incoming Trump administration. President-elect Donald Trump has dropped his support for a TikTok ban. The court’s decision could come within days.

Longshoremen reach tentative agreement with ports, shippers, averting a potential strike

U.S. longshoremen have reached a contract agreement with ports and shippers, averting a potential strike that could have damaged the American economy. The International Longshoremen’s Association union and the U.S. Maritime Alliance of ports and shipping companies said Wednesday they had reached a tentative agreement for a six-year contract. The two sides had been facing a Jan. 15 deadline. In a joint statement, the two sides said the agreement protects union jobs and allows ports on the East and Gulf coasts to modernize with new technology, “making them safer and more efficient, and creating the capacity they need to keep our supply chains strong.″

Trump gives GOP senators no set strategy as leaders struggle to craft his priorities

WASHINGTON (AP) — President-elect Donald Trump emerged from a lengthy Capitol Hill meeting with Senate Republicans with no set strategy for tackling his legislative priorities. Trump said it “feels great” to be back inside the U.S. Capitol, his first visit since he left office four years ago, after the Jan. 6, 2021 riot by his supporters. With his wife, Melania, he also paid tribute to the late President Jimmy Carter lying in state in the Rotunda. GOP leaders are struggling to come up with a strategy for their ambitious legislative agenda. At stake are tax cuts, border security, money to deport immigrants, and other priorities. With Trump taking the oath of office on Jan. 20, they have little time to waste.

The ‘Worst in Show’ CES products put your data at risk and cause waste, privacy advocates say

LAS VEGAS (AP) — So much of the technology showcased at CES includes gadgets made to improve consumers’ lives — whether by leveraging AI to make devices that help people become more efficient, by creating companions to cure loneliness or by providing tools that help people with mental and physical health. But not all innovation is good, according to a panel of self-described dystopia experts that has judged some products as “Worst in Show.” The award that no company wants to win calls out the “least repairable, least private, and least sustainable products on display.”

US ‘notorious markets’ report warns of risks from online pharmacies

BANGKOK (AP) — An annual U.S. government report on “notorious markets” known for counterfeiting and other violations of intellectual property says that nearly all 35,000 online pharmacies around the world are being run illegally. The report says of the 96% of online pharmacies found to be violating the law, many are operating without a license and selling medicines without prescriptions and safety warnings. It says the websites often look like legitimate e-commerce platforms, often with false claims that they have FDA approval. The U.S. Trade Representative’s annual report on theft of intellectual property also singled out 19 countries for concerns over counterfeit or pirated products and named dozens of online retailers allegedly engaged in selling counterfeit products.

Uncertainty over Trump’s electric vehicle policies clouds 2025 forecast for carmakers

NEW YORK (AP) — Electric vehicle demand is expected to keep rising this year, but uncertainty over policy changes and tariffs is clouding the forecast. Sales have steadily risen for years. S&P Global Mobility expects sales to rise 30% globally in 2025, with battery electric vehicles making up 16.7% of the market share for light vehicles. Donald Trump’s presidency could mean big policy shifts in tax and other incentives for both electric vehicle makers and consumers. The threat of tariffs on imports and retaliatory tariffs globally, could further complicate production and sales for electric vehicles.

One Tech Tip: Start the new year with a clean inbox

LONDON (AP) — For Jan. 9

Stock market today: A mixed day for world shares as Wall Street steadies

BANGKOK (AP) — World shares are mixed after the latest U.S. economic data calmed nerves on Wall Street. Asian markets mostly declined as caution revived over a likely deepening of trade friction once President-elect Donald Trump takes office. Shares fell in Tokyo after Japan reported strong wage growth for November, raising the chance the central bank may raise interest rates. On Wednesday, the S&P 500 rose 0.2% and the Dow Jones Industrial Average added 0.3%. The Nasdaq composite slipped 0.1%. Bond yields held steady. U.S. markets will be closed on Thursday to observe a National Day of Mourning for former President Jimmy Carter.

Federal Reserve officials at December meeting expected slower pace of rate cuts ahead

WASHINGTON (AP) — Federal Reserve officials at their meeting Dec. 17-18 expected to dial back the pace of interest rate cuts this year in the face of persistently elevated inflation and the threat of widespread tariffs and other potential policy changes. Minutes from the meeting, released after the typical three-week lag, also showed clear division among the Fed’s 19 policymakers. Some officials expressed support for keeping the central bank’s key rate unchanged, the minutes said. And a majority of the officials said the decision to cut rates was a close call.