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NYC ad agency titans Omnicom and Interpublic to form $30 billion marketing powerhouse Omnicom is buying Interpublic Group in a stock-for-stock deal that will create an advertising powerhouse with combined annual revenue of almost $26 billion. The companies have had a hand in iconic marketing campaigns like “Got Milk” for the California Milk Processor Board, “Priceless” for Mastercard, “Because I’m Worth It” for L’Oreal and “Think Different” for Apple. The combined company will be worth more than $30 billion. Shares of Interpublic jumped more than 15% before the opening bell Monday, while Omnicom’s stock fell more than 2%. How should the opioid settlements be spent? Those hit hardest often don’t have a say People with substance use disorder are not getting a direct say on how most opioid settlement money is used. Some advocates say keeping them out of the process is a major reason money is going to law enforcement efforts instead of other programs more likely to prevent overdose deaths. Companies have agreed to pay more about $50 billion over time to resolve lawsuits filed by governments. Most of the money is required to be used to fight the crisis. Figuring out exactly to do with it is up to state and local governments that have used a variety of structures to make those decisions. The Onion's bid to buy Infowars goes before judge as Alex Jones tries stopping sale The Onion's bid to buy conspiracy theorist Alex Jones' Infowars has returned to a Texas courtroom. A federal judge in Houston is hearing arguments Monday on whether a bankruptcy auction was run properly as Jones alleges collusion and fraud. The hearing is expected to continue into Tuesday. The Onion satirical news outlet was named the winning bidder last month over a company affiliated with Jones. The auction was held to help pay nearly $1.5 billion in defamation judgments that Jones was ordered to pay families of victims of the 2012 Sandy Hook Elementary School shooting. The families won lawsuits against Jones for calling the shooting a hoax. It's his job to keep American's planes running on time FORT WORTH, Texas (AP) — It's the job of American Airlines' chief operating officer to make sure the carrier's flights take off on time and fly safely during one of the busiest travel periods of the year. David Seymour oversees flight and airport operations for American, which expects to make about 6,500 flights a day between now and New Year’s Day. A West Point graduate and former U.S. Army infantry officer, Seymour has held a variety of operations-related jobs and was promoted to his current post in 2020. He spoke with The Associated Press recently about managing huge passenger numbers during the holidays and preventing people from getting on a plane before their boarding group is called. Stock market today: Nvidia drags Wall Street from its records as oil and gold rise NEW YORK (AP) — A slide for market superstar Nvidia helped pull U.S. stock indexes down from their records. The S&P 500 fell 0.6% Monday, coming off its 57th all-time high of the year so far. The Dow Jones Industrial Average fell 0.5%, and the Nasdaq composite dropped 0.6% from its own record. Nvidia was the market's heaviest weight after China said it's probing the chip giant for potential antitrust violations. Stocks in Hong Kong jumped after top Chinese leaders agreed on a “moderately loose” monetary policy. Prices for oil and gold rose following the ouster of Syrian leader Bashar Assad. Taylor Swift’s Eras Tour ends by shattering own record, grossing an estimated $2.2B, Pollstar says NEW YORK (AP) — Taylor Swift’s Eras Tour brought in approximately $2.2 billion in its nearly two-year run, making it the highest-grossing tour of all time for a second year in a row. That's according to Pollstar estimates from data collected across 149 shows and provided to The Associated Press on Monday. Last year, Swift’s landmark Eras Tour became the first to cross the billion-dollar mark. In North America, Swift’s tour earned an estimated $1.04 billion. Globally, that number jumps to an estimated $2.2 billion. Pollstar data is pulled from box office reports, venue capacity estimates, historical Pollstar venue ticket sales data, and other undefined research, collected from November 2022 to December 2024. Cyprus and the US double down on a joint effort to combat financial crimes with more training NICOSIA, Cyprus (AP) — Cyprus and the U.S. say they’re doubling down on a joint effort to crack down on illicit finance with additional training of Cypriot law enforcement authorities to identify, investigate and prosecute financial crimes. According to a joint statement issued Monday, an “ambitious” plan for next year will involve 21 weeks of training for different Cypriot law enforcement agencies on financial investigative and forensic accounting techniques, as well as the use of technology in investigations. The plan adds to a U.S. initiative launched 20 months ago following a pledge by Cypriot President Nikos Christodoulides to clean up the island nation’s sullied reputation as a money laundering and sanctions evasion hub. Mexican soldiers will get a pay raise after elimination of oversight agencies, president says MEXICO CITY (AP) — Mexico's president says much of the money gained by eliminating independent oversight and regulatory agencies will go to the army to fund a rise in soldiers’ pay. The announcement by President Claudia Sheinbaum on Monday is the latest in a a series of strange funding sources to pay for the country's increasingly influential military. Mexico's Congress last week approved charging every cruise ship passenger a $42 immigration fee with much of that money also going to the armed forces. The military has been given powers to build and run everything from railways, airports and airlines in Mexico. And some of those projects appear to be losing money. Nvidia's stock dips after China opens probe of the AI chip company for violating anti-monopoly laws Shares of Nvidia have slipped after China said it is investigating the high-flying U.S. microchip company over suspected violations of Chinese anti-monopoly laws. In a brief press release with few details, Chinese regulators appear to be looking into Nvidia’s $6.9 billion 2019 acquisition of network and data transmission company Mellanox. Nvidia shares dipped 2.7% in early trading Monday, falling below $139 each. Considered a bellwether for artificial intelligence demand, Nvidia has led the AI sector to become one of the stock market’s biggest companies, as tech giants spend heavily on the company’s chips and data centers needed to train and operate their AI systems. Meta shareholders seek sanctions for Sandberg, Zients for deleting Cambridge Analytica emails WILMINGTON, Del. (AP) — Attorneys for Meta shareholders are asking a Delaware judge to sanction former Chief Operating Officer Sheryl Sandberg and fellow Facebook board member and current White House chief of staff Jeff Zients for deleting emails related to the Cambridge Analytica privacy scandal. The plaintiffs say Sandberg and Zients used personal email accounts to communicate about key issues relating to their 2018 shareholder lawsuit alleging that Facebook official failed for years to protect the privacy of user data. The plaintiffs say the former board members were either “reckless or intentional” in destroying documents, even after being told to preserve records for litigation purposes. A defense attorney argued Monday that there was no intent or “grand scheme” to destroy relevant documents.February 2025 Sports Calendar
The emergence of tools that allow people to efficiently produce novel and detailed online reviews with almost no work has put , service providers and consumers in uncharted territory, watchdog groups and researchers say. Related Articles have long plagued many popular consumer websites, and Yelp. They are typically traded on private social media groups between fake review brokers and businesses willing to pay. Sometimes, such reviews are initiated by businesses that offer customers incentives such as gift cards for positive feedback. But AI-infused text generation tools, popularized by OpenAI’s , enable fraudsters to produce reviews faster and in greater volume, according to tech industry experts. The deceptive practice, which is , is carried out year-round but becomes a bigger problem for consumers during the , when many people rely on reviews to help them purchase gifts. Fake reviews are found across a wide range of industries, from e-commerce, lodging and restaurants, to services such as home repairs, and piano lessons. The Transparency Company, a tech company and watchdog group that uses software to detect fake reviews, said it started to see AI-generated reviews show up in large numbers in mid-2023 and they have multiplied ever since. For a report released this month, The Transparency Company analyzed 73 million reviews in three sectors: home, legal and medical services. Nearly 14% of the reviews were likely fake, and the company expressed a “high degree of confidence” that 2.3 million reviews were partly or entirely AI-generated. “It’s just a really, really good tool for these review scammers,” said Maury Blackman, an investor and advisor to tech startups, who reviewed The Transparency Company’s work and is set to lead the organization starting Jan. 1. In August, software company DoubleVerify said it was observing a “significant increase” in mobile phone and smart TV apps with reviews crafted by generative AI. The reviews often were used to deceive customers into installing apps that could hijack devices or run ads constantly, the company said. The following month, the Federal Trade Commission sued the company behind an AI writing tool and content generator called Rytr, accusing it of offering a service that could pollute the marketplace with fraudulent reviews. The FTC, which this year banned the of fake reviews, said some of Rytr’s subscribers used the tool to produce hundreds and perhaps thousands of reviews for garage door repair companies, sellers of “replica” designer handbags and other businesses. Max Spero, CEO of AI detection company Pangram Labs, said the software his company uses has detected with almost certainty that some AI-generated appraisals posted on Amazon bubbled up to the top of review search results because they were so detailed and appeared to be well thought-out. But determining what is fake or not can be challenging. External parties can fall short because they don’t have “access to data signals that indicate patterns of abuse,” Amazon has said. Pangram Labs has done detection for some prominent online sites, which Spero declined to name due to non-disclosure agreements. He said he evaluated Amazon and Yelp independently. Many of the AI-generated comments on Yelp appeared to be posted by individuals who were trying to publish enough reviews to earn an “Elite” badge, which is intended to let users know they should trust the content, Spero said. The badge provides access to exclusive events with local business owners. Fraudsters also want it so their Yelp profiles can look more realistic, said Kay Dean, a former federal criminal investigator who runs a watchdog group called Fake Review Watch. To be sure, just because a review is AI-generated doesn’t necessarily mean its fake. Some consumers might experiment with AI tools to generate content that reflects their genuine sentiments. Some non-native English speakers say they turn to AI to make sure they use accurate language in the reviews they write. “It can help with reviews (and) make it more informative if it comes out of good intentions,” said Michigan State University marketing professor Sherry He, who has researched fake reviews. She says tech platforms should focus on the behavioral patters of bad actors, which prominent platforms already do, instead of discouraging legitimate users from turning to AI tools. Prominent companies are developing policies for how AI-generated content fits into their systems for removing phony or abusive reviews. Some already employ algorithms and investigative teams to detect and take down fake reviews but are giving users some flexibility to use AI. Spokespeople for Amazon and Trustpilot, for example, said they would allow customers to post AI-assisted reviews as long as they reflect their genuine experience. Yelp has taken a more cautious approach, saying its guidelines require reviewers to write their own copy. “With the recent rise in consumer adoption of AI tools, Yelp has significantly invested in methods to better detect and mitigate such content on our platform,” the company said in a statement. The Coalition for Trusted Reviews, which Amazon, Trustpilot, employment review site Glassdoor, and travel sites Tripadvisor, Expedia and launched last year, said that even though deceivers may put AI to illicit use, the technology also presents “an opportunity to push back against those who seek to use reviews to mislead others.” “By sharing best practice and raising standards, including developing advanced AI detection systems, we can protect consumers and maintain the integrity of online reviews,” the group said. banning fake reviews, which took effect in October, allows the agency to fine businesses and individuals who engage in the practice. Tech companies hosting such reviews are shielded from the penalty because they are not legally liable under U.S. law for the content that outsiders post on their platforms. Tech companies, including Amazon, Yelp and Google, have sued fake review brokers they accuse of peddling counterfeit reviews on their sites. The companies say their technology has blocked or removed a huge swath of suspect reviews and suspicious accounts. However, some experts say they could be doing more. “Their efforts thus far are not nearly enough,” said Dean of Fake Review Watch. “If these tech companies are so committed to eliminating review fraud on their platforms, why is it that I, one individual who works with no automation, can find hundreds or even thousands of fake reviews on any given day?” Consumers can try to by watching out for a few , according to researchers. Overly enthusiastic or negative reviews are red flags. Jargon that repeats a product’s full name or model number is another potential giveaway. When it comes to AI, research conducted by Balázs Kovács, a Yale professor of organization behavior, has shown that people can’t tell the difference between AI-generated and human-written reviews. Some AI detectors may also be fooled by shorter texts, which are common in online reviews, the study said. However, there are some “AI tells” that online shoppers and service seekers should keep it mind. Panagram Labs says reviews written with AI are typically longer, highly structured and include “empty descriptors,” such as generic phrases and attributes. The writing also tends to include cliches like “the first thing that struck me” and “game-changer.”What a merger between Nissan and Honda means for the automakers and the industryRobert DeNiro and POTUS Angela Bassett Team Up to Track Down Terrorists in Stirring First Trailer for “Zero Day”: Watch
Founder, Managing Director of Resus Energy, Kishan Nanayakkara of Sri Lanka, was recognized at the 7th annual Asia Pacific ‘50 Leading Lights: Kindness in Leadership campaign’ that was released on the recent World Kindness Day. “As we celebrate the seventh year of our 50 Leading Lights: Kindness in Leadership campaign, it’s evident that kindness is much more than a feel-good gesture – it’s a strategic advantage. Both successful leaders and leading academics consistently affirm that kindness enhances wellbeing, fuels innovation, and drives productivity. It is, therefore, a great honour to announce the 2024 APAC Leading Lights list, in association with Asia Square. By leading with kindness, these remarkable men and women transform workplaces into thriving ecosystems where both people and businesses flourish. They are an inspiration to us all”, said Pinky Lilani, CBE DL, Founder, Kindness & Leadership: 50 Leading Lights. Incorporated in 2003, Resus Energy is an award-winning company having won multiple awards across numerous spheres for its work and governance and was amongst the first bracket of Colombo Stock Exchange (CSE) listed companies to adopt Global Reporting Initiative (GRI). Resus Energy’s initial foray into the power sector was through a joint development of a 100MW thermal power plant. In 2007, Resus began developing its first renewable energy project and became a pureplay renewable energy company in 2015. An equal opportunity employer, Resus operates in a strong ‘Environmental, Social and Governance’ system, built around international best practices with ‘caring for people and the planet’ as its ethos, and has been listed on the CSE since 2009. Currently Resus operates 8 small hydropower and 2 ground mounted solar PV stations across five districts in Sri Lanka and dispatches over 70GWh annually to the national grid. Its third solar PV station is currently under construction. Most of Resus’ power stations are in extreme-rural hamlets. Apart from generating clean energy, Resus plays a pivotal role in protecting the natural environment, uplifting livelihoods of families, providing employment to villagers, including women in the surroundings of its power stations.New coach Chris Holtmann has been tasked with rebuilding DePaul to the point where it can return to the NCAA Tournament for the first time since 2004. Northern Illinois coach Rashon Burno knows what it takes to steer DePaul to the NCAAs because he was the starting point guard on the 2000 team that made the tournament -- the Blue Demons' only other NCAA appearance since 1992. Perhaps they can compare notes Saturday afternoon when Burno leads the Huskies (2-3) back to his alma mater as DePaul (5-0) hosts its sixth straight home game in Chicago. Last season, Burno's NIU squad helped accelerate DePaul's need for a new coach -- as the Huskies waltzed into Wintrust Arena and owned Tony Stubblefield's Blue Demons by an 89-79 score on Nov. 25. The Huskies built a 24-point second-half lead before coasting to the finish line. Can history repeat for NIU? There's just one problem with using last year's game as a potential barometer for Saturday's rematch: Almost no players on this year's teams were part of last year's squads. At DePaul, only assistant coach Paris Parham remains as Holtmann had the green light to bring in an all-new roster. UIC graduate transfer Isaiah Rivera (16.0 ppg, .485 3-point rate) and Coastal Carolina transfer Jacob Meyer (15.4 ppg, .406 on 3s) lead a balanced attack that focuses on getting half its shots from beyond the arc. At NIU, Burno retained only two players who competed against DePaul last year -- Ethan Butler and Oluwasegun Durosinmi -- and they combined for three points in 26 minutes in that game. The Huskies' main players used the transfer portal to join such programs as Kansas, Wisconsin, Penn State, Colorado State, James Madison, Georgia State and Niagara. With every starting job open, Butler has jumped into the lineup and produced 11.6 points, 4.8 rebounds, 1.8 blocks and 1.4 steals per game. Transfers Quentin Jones (Cal Poly) and James Dent (Western Illinois) pace the Huskies with 14.4 and 14.0 points per game. NIU is on a two-game losing streak, most recently a 75-48 home defeat at the hands of Elon on Wednesday. Holtmann hopes to have Arkansas transfer Layden Blocker for Saturday's game. Blocker missed Tuesday's 78-69 win over Eastern Illinois with a quad injury. With the combo guard unavailable, point guard Conor Enright handed out a career-high 11 assists in a season-high 38 minutes. "We need (Blocker)," Holtmann said. "I don't want to play Conor 38 minutes." --Field Level MediaThe Latest: Suspect in United Healthcare CEO's killing charged with weapons, forgery, other charges
Giants release quarterback Daniel Jones just days after benching him EAST RUTHERFORD, N.J. (AP) — The Daniel Jones era in New York is over. The Giants quarterback was granted his release by the team just days after the franchise said it was benching him in favor of third-stringer Tommy DeVito. New York president John Mara said Jones approached the team about releasing him and the club obliged. Mara added he was “disappointed” at the quick dissolution of a once-promising relationship between Jones and the team. Giants coach Brian Daboll benched Jones in favor of DeVito following a loss to the Panthers in Germany that dropped New York's record to 2-8. Conor McGregor must pay $250K to woman who says he raped her, civil jury rules LONDON (AP) — A civil jury in Ireland has awarded more than $250,000 to a woman who says she was raped by mixed martial arts fighter Conor McGregor in a Dublin hotel penthouse after a night of heavy partying. The jury on Friday awarded Nikita Hand in her lawsuit that claimed McGregor “brutally raped and battered” her in 2018. The lawsuit says the assault left her heavily bruised and suffering from post-traumatic stress disorder. McGregor testified that he never forced her to do anything and that Hand fabricated her allegations after the two had consensual sex. McGregor says he will appeal the verdict. Week 16 game between Denver Broncos and Los Angeles Chargers flexed to Thursday night spot The Los Angeles Chargers have played their way into another prime time appearance. Justin Herbert and company have had their Dec. 22 game against the Denver Broncos flexed to Thursday night, Dec. 19. Friday’s announcement makes this the first time a game has been flexed to the Thursday night spot. The league amended its policy last season where Thursday night games in Weeks 13 through 17 could be flexed with at least 28 days notice prior to the game. The matchup of AFC West division rivals bumps the game between the Cleveland Browns and Cincinnati Bengals to Sunday afternoon. NBA memo to players urges increased vigilance regarding home security following break-ins MIAMI (AP) — The NBA is urging its players to take additional precautions to secure their homes following reports of recent high-profile burglaries of dwellings owned by Milwaukee Bucks forward Bobby Portis and Kansas City Chiefs teammates Patrick Mahomes and Travis Kelce. In a memo sent to team officials, a copy of which was obtained by The Associated Press, the NBA revealed that the FBI has connected some burglaries to “transnational South American Theft Groups” that are “reportedly well-organized, sophisticated rings that incorporate advanced techniques and technologies, including pre-surveillance, drones, and signal jamming devices.” Red Bull brings wrong rear wing to Las Vegas in mistake that could stall Verstappen's title chances LAS VEGAS (AP) — Max Verstappen is suddenly in jeopardy of being denied a fourth consecutive Formula 1 title Saturday night. Red Bull apparently brought the wrong rear wing to Las Vegas and GPS data showed its two cars to be significantly slower on the straights than both McLaren and Mercedes, which led both practice sessions. Red Bull says it doesn’t have a replacement rear wing in Las Vegas to fix the issue and little chance of getting two flown in from England ahead of the race. Caitlin Clark to join Cincinnati bid for 16th National Women's Soccer League team WNBA star Caitlin Clark has joined Cincinnati’s bid for an expansion National Women’s Soccer League team. Major League Soccer franchise FC Cincinnati is heading the group vying to bring a women’s pro team to the city. The club issued a statement confirming Clark had joined the bid group. NWSL Commissioner Jessica Berman has said the league plans to announce the league’s 16th team by the end of the year. The league's 15th team will begin play in 2026 in Boston. Aaron Judge won't be bothered if Juan Soto gets bigger contract from Yankees than his $360M deal NEW YORK (AP) — Aaron Judge won’t be bothered if Juan Soto gets a bigger deal from the New York Yankees than the captain’s $360 million, nine-year contract. Speaking a day after he was a unanimous winner of his second MVP, Judge says “It ain’t my money” and adds "that’s never been something on my mind about who gets paid the most.” Judge led the major leagues with 58 homers, 144 RBIs and 133 walks while hitting .322. Soto batted .288 with 41 homers, 109 RBIs and 129 walks in his first season with the Yankees, then became a free agent at age 26. In a 'Final Four-type weekend,' two top-6 clashes put women's college basketball focus on West Coast LOS ANGELES (AP) — Two games featuring four powerhouse teams has put the focus in women's college basketball on the West Coast this weekend. JuJu Watkins and No. 3 Southern California host Hannah Hidalgo and No. 6 Notre Dame on Saturday. Top-ranked South Carolina visits Lauren Betts and fifth-ranked UCLA on Sunday. Both games are nationally televised and the arenas are expected to be packed. WNBA scouts will be on hand to check out some of the nation's top talent. Two teams will come away with their first losses of the season. USC coach Lindsay Gottlieb calls it “a Final Four-type weekend.” A documentary featuring Watkins will air on NBC ahead of USC's game, which leads into the Army-Notre Dame football game. Noodles and wine are the secret ingredients for a strange new twist in China's doping saga Blame it on the noodles. That's what one Chinese official suggested when anti-doping leaders were looking for answers for the doping scandal that cast a shadow over this year's Olympic swim meet. Earlier this year, reports that 23 Chinese swimmers had tested positive for a banned heart medication emerged. None were sanctioned because Chinese authorities determined the swimmers were contaminated by traces of the drug spread about a hotel kitchen. In a strange twist, the leader of China's anti-doping agency suggested this case could have been similar to one in which criminals were responsible for tainting noodles that were later eaten by another Chinese athlete who also tested positive for the drug. Athletes see climate change as threatening their sports and their health. Some are speaking up BAKU, Azerbaijan (AP) — Pragnya Mohan has been a professional triathlete for nearly a decade, but summers in her native India are now so hot that she can’t train there anymore. And she worries about a day when heat around the world kills her sport entirely. She was among athletes who spoke at the United Nations climate summit in Azerbaijan about the threat global warming poses to them, to fans and to sport itself. They described how extreme weather is making training and competing difficult or impossible. With billions of fans worldwide, some athletes and leagues are trying to get more people to care, and act, on climate change.
The Darnold-Jefferson connection is thriving for the surging Vikings
The Federal Reserve’s second consecutive key rate cut could mean more than just lower borrowing costs for the average consumer — state and local governments stand to benefit, too. Lower interest rates may bring changes for housing development, tax revenue, debt refinancing and bread-and-butter projects like roads, water and sewer, state and local government officials told States Newsroom. The Fed’s cut earlier this month followed an aggressive rate-hiking campaign to beat down inflation, and it came years after the last time the U.S. central bank lowered interest rates. Key borrowing rates now stand at 4.5 to 4.75%, and inflation has cooled to 2.7%. Economists expect another rate cut in December. “On average, the lower the interest rates are expected to help stock market returns if historical trends hold,” said Liz Farmer, who focuses on budgets, fiscal distress, tax policy and pensions at The Pew Charitable Trusts. “So generally, you would expect a more positive effect on your average pension portfolio that has a good amount invested in equities.” This change means states and localities will have lower borrowing costs, which will make it easier to make big long-term changes in infrastructure, to see higher sales tax collections as a result of more spending, and it is likely to result in better pension performance in an environment where stocks tend to respond to lower rates, fiscal policy experts at Pew say . In 2021 and 2022, states had record high revenue growth due in part to federal pandemic aid and the impact of the federal aid on workers and businesses, according to Pew. But that kind of growth was unsustainable. Recently, nearly all states have entered into a slower revenue growth environment, said Brian Sigritz, director of state fiscal studies at the National Association of State Budget Officers, a professional membership group for budget and finance officers. More than three dozen states had a fall in revenue in fiscal year 2023, Pew’s analysis found. At least five states experienced budget shortfalls in fiscal year 2024, the think tank explained. “States overall are remaining in a strong fiscal position. It’s just that we’re starting to see slower growth compared to what we did see for those a couple of years after the start of the pandemic,” he said. “That was really a unique set of circumstances where we had the additional federal aid provided by all the different COVID relief bills and at the same time where state revenue growth was growing so strongly, and that led to very strong growth in tax collections.” Sigritz said that states, which have to almost entirely use borrowing for infrastructure and capital projects, will benefit from lower borrowing costs as a result of the Fed rate cuts. David Schmiedicke, finance director for the city of Madison, Wisconsin’s finance department, said he’s hopeful that the lower cost of borrowing will reduce the cost of public infrastructure when seeking construction bids. “We’re seeing a lot of development, even with the higher rates. Madison is an attractive place to live. People from around the country are moving here,” he said. Rebecca Fleury, the city manager for Battle Creek, Michigan, said interest rates affect key services the public relies on, including fire departments. “[Interest rates] have an impact on our ability as a city of 52,000 to provide the full services that we do. Every little bit impacts us, because we have to buy fire trucks,” she said.“If there’s a decrease in one of our three largest revenue sources, we feel it.” But there are both pluses and minuses to the cut in the federal funds rate, Schmiedicke said, as it brings down the interest income states receive. “It probably will reduce the amount of investment income the city receives on its cash balances. We saw that go up dramatically in 2022 and 2023, so that’ll probably come down as the Fed cuts rates,” Schmiedicke said. Different tax policies also change how states and localities experience the Fed rate cuts. H.D. Palmer, deputy director for external affairs and principal spokesman on fiscal and financial issues for California Gov. Gavin Newsom, said that the lower interest rates are overall positive for the nation’s largest state because of the concentration of technology firms there, its progressive tax rate, and the taxing of capital gains and stock options as personal income. “When the markets are doing well, those types of firms that are concentrated in California do well and in consequence, our revenues do well,” Palmer said. The Alabama Department of Finance told States Newsroom that it is closely following the Fed’s actions as it “closely follows all actions that could impact our citizens and the State’s revenues.” But the state agency said it may take some time to see any of the effects of recent rate cuts. “While recent changes in the federal funds rate may lead to increased state revenues, absent a significant change in the rate, the impact on revenues and expenditures would not likely be seen immediately. We will continue to monitor and assess all economic indicators to ensure steady, sustainable, conservative growth for the benefit of all Alabamians,” the department said in a statement. Schmiedicke said Wisconsin is very reliant on property taxes because although state law allows a statewide sales tax and counties can impose a 0.5% sales tax, cities other than Milwaukee have not been able to do so. The state also has strict limits on property tax increases. “We could see more development in the city and that could definitely help with our overall property tax base, as well as if it results in more travel and room taxes,” he said. As states and localities wrestle with how to provide more affordable housing, with nearly half of renters having to spend more than 30% of their income on housing, lower interest rates could help spur more building. Fleury said the costs of loans and labor and materials has been “astronomical,” making it hard for developers to build. Although she said Battle Creek would love to take advantage of Low Income Housing Tax Credits, it’s challenging to fund projects. “I think that a lower interest rate could really help us get farther along in our housing plans,” she said “If you can’t get your project to pencil within what they’re able to fund or finance, we just never make the list.” Despite lower interest rates creating a better environment for affordable rent and homes, states will likely continue to spend a lot of energy on housing programs, Sigritz said. Governors’ budget proposals and state of the state speeches have prioritized affordable housing more and more in the past few years, he said, and he expects this to continue. “Housing affordability is not an issue that’s going to go away overnight, and there’s still a need for more housing,” Sigritz said. “It takes a while to build additional housing even in the lower-interest environment.” This story originally appeared at kentuckylantern.com. Before you go.... 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The New York Jets have officially been eliminated from postseason contention. It would have taken a near miracle to somehow get back in the playoff picture but any hopes were eradicated Sunday when the Jets blew a late lead to fall 32-26 to the Miami Dolphins in overtime The Dolphins held a 15-13 lead at halftime but New York quickly grabbed momentum and snagged a 23-15 lead. Miami would tie it and the team's then traded field goals to force overtime. Miami would win the toss and march down the field, with quarterback Tua Tagovailoa finding tight end Jonnu Smith in the end zone for the game-winning score. Tagovailoa went 31-of-45 for 311 yards and a touchdown. Running back De'von Achane had 13 carries for 21 yards and a touchdown while also adding six catches for 45 yards in the passing game. Tyreek Hill had 10 catches for 115 yards and a touchdown while Jaylen Waddle had nine catches for 99 yards. Jets quarterback Aaron Rodgers went 27-of-39 for 339 yards with one touchdown. Garrett Wilson had seven carries for 114 yards while Davante Adams had nine catches for 109 yards and a touchdown. Fans took to social media to blast the Jets for blowing the game and extending their postseason drought to 14 seasons. While the postseason is out of play for the Jets the remaining slate will be important in determining where they go in future seasons. New York will face the Jacksonville Jaguars, Los Angeles Rams and Buffalo Bills before finishing their season against these Dolphins.
BANGKOK — 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. An industry shakeup The ascent of Chinese automakers is rattling the industry at a time when manufacturers are struggling to shift from fossil fuel-driven vehicles to electrics. Relatively inexpensive EVs from China's BYD, Great Wall and Nio are eating into the market shares of U.S. and Japanese car companies in China and elsewhere. Japanese automakers have lagged behind big rivals in EVs and are now trying to cut costs and make up for lost time. Nissan, Honda and Mitsubishi announced in August that they will share components for electric vehicles like batteries and jointly research software for autonomous driving to adapt better to dramatic changes in the auto industry centered around electrification. A preliminary agreement between Honda, Japan's second-largest automaker, and Nissan, third largest, was announced in March. A merger could result in a behemoth worth about $55 billion based on the market capitalization of all three automakers. Joining forces would help the smaller Japanese automakers add scale to compete with Japan's market leader Toyota Motor Corp. and with Germany's Volkswagen AG. Toyota itself has technology partnerships with Japan's Mazda Motor Corp. and Subaru Corp. What would Honda need from Nissan? Nissan has truck-based body-on-frame large SUVs such as the Armada and Infiniti QX80 that Honda doesn't have, with large towing capacities and good off-road performance, said Sam Fiorani, vice president of AutoForecast Solutions. Nissan also has years of experience building batteries and electric vehicles, and gas-electric hybird powertrains that could help Honda in developing its own EVs and next generation of hybrids, he said. "Nissan does have some product segments where Honda doesn't currently play," that a merger or partnership could help, said Sam Abuelsamid, a Detroit-area automotive industry analsyt. While Nissan's electric Leaf and Ariya haven't sold well in the U.S., they're solid vehicles, Fiorani said. "They haven't been resting on their laurels, and they have been developing this technology," he said. "They have new products coming that could provide a good platform for Honda for its next generation." Why now? Nissan said last month that it was slashing 9,000 jobs, or about 6% of its global work force, and reducing global production capacity by 20% after reporting a quarterly loss of 9.3 billion yen ($61 million). Earlier this month it reshuffled its management and its chief executive, Makoto Uchida, took a 50% pay cut to take responsibility for the financial woes, saying Nissan needed to become more efficient and respond better to market tastes, rising costs and other global changes. Fitch Ratings recently downgraded Nissan's credit outlook to "negative," citing worsening profitability, partly due to price cuts in the North American market. But it noted that it has a strong financial structure and solid cash reserves that amounted to 1.44 trillion yen ($9.4 billion). Nissan's share price has fallen to the point where it is considered something of a bargain. A report in the Japanese financial magazine Diamond said talks with Honda gained urgency after the Taiwan maker of iPhones Hon Hai Precision Industry Co., better known as Foxconn, began exploring a possible acquisition of Nissan as part of its push into the EV sector. The company has struggled for years following a scandal that began with the arrest of its former chairman Carlos Ghosn in late 2018 on charges of fraud and misuse of company assets, allegations that he denies. He eventually was released on bail and fled to Lebanon. Honda reported its profits slipped nearly 20% in the first half of the April-March fiscal year from a year earlier, as sales suffered in China. More headwinds Toyota made 11.5 million vehicles in 2023, while Honda rolled out 4 million and Nissan produced 3.4 million. Mitsubishi Motors made just over 1 million. Even after a merger Toyota would remain the leading Japanese automaker. All the global automakers are facing potential shocks if President-elect Donald Trump follows through on threats to raise or impose tariffs on imports of foreign products, even from allies like Japan and neighboring countries like Canada and Mexico. Nissan is among the major car companies that have adjusted their supply chains to include vehicles assembled in Mexico. Meanwhile, analysts say there is an "affordability shift" taking place across the industry, led by people who feel they cannot afford to pay nearly $50,000 for a new vehicle. In American, a vital market for companies like Nissan, Honda and Toyota, that's forcing automakers to consider lower pricing, which will eat further into industry profits. ____ AP Auto Writer Tom Krisher contributed to this report from Detroit.has said that “very few” businesses want to invest in Sir Keir Starmer’s Britain. The tech tycoon blamed “the current administration” for putting off wealth creators in remarks that will come as a blow to the Prime Minister. He made the comments in response to a letter from Scottish politicians who want his car firm Tesla to in the country. “Very few companies will be willing to invest in the UK with the current administration,” the tech tycoon replied on social media site X, formerly known as Twitter, which he owns. Sir Keir has made attracting more businesses to Britain central to his economic plan as he battles low growth following the Budget tax rises. In September he said he would welcome cash from Tesla after a row broke out over his failure to invite Mr Musk to the . The tech mogul, who is the world’s richest man, was reportedly snubbed by No 10 because of his social media posts in which he criticised Labour. He responded: “I don’t think anyone should go to the UK when they’re releasing convicted pedophiles in order to imprison people for social media posts.” Mr Musk has been an outspoken critic of Sir Keir, accusing him of orchestrating a crackdown on free speech in Britain. During the summer’s far-Right riots he branded the Prime Minister “two-tier Keir” and criticised the punishments handed out to those involved. Out of curiosity, is this the same who himself criticized policing protests in 2021? What a hypocrite! — Elon Musk (@elonmusk) After a man was apparently arrested over comments he had made on Facebook, Mr Musk asked whether the country was “Britain or the Soviet Union”. When the police , a journalist at The Telegraph, over a year-old post on X, he declared that “Britain is turning into a police state”. He also used X to suggest that “civil war is inevitable” in Britain, prompting a rebuke from No 10 which said there was “no justification” for the comments. Last month he waded into the row over Labour’s inheritance tax raid on farmers, saying it showed that Britain was going “full Stalin” under Sir Keir. Britain is turning into a police state — Elon Musk (@elonmusk) Mr Musk owns some of the world’s biggest companies including Tesla, the electric car manufacturer, SpaceX and social media site X. Ash Regan, the Holyrood leader of nationalist party Alba, had written to Mr Musk urging him to open a new Tesla gigafactory in Scotland. Jeremy Hunt, the former Tory chancellor, has claimed the billionaire was considering building a new car plant in Britain before Labour won the election. “He told me last year he was planning a new car plant in Europe and had not decided where but the UK was a candidate,” he told the BBC. Mr Musk has openly backed Reform online and is said to be considering giving a sizeable donation to . Sir Keir has repeatedly said that international firms are upbeat about Britain and hailed the £50 billion pledged at October’s investment summit. He responded to Mr Musk’s criticisms of his Government by saying that they were “in stark contrast” to the attitude of other business leaders.The deal floodgates have opened a whole week early. We’re still seven days out from Black Friday, and yet dozens of websites and storefronts have already started promoting their Black Friday deals so shoppers can get an early start on their holiday gift shopping while saving themselves some cash. If you’re looking for the right gift still for the hairy fella in your life, consider the Braun Series 9 Pro electric shaver. This trimmer is typically priced by Amazon at $300, but right now during the sales event, you can grab it for just $240. That’s a 20% discount , saving you $60 on the shaving kit. See at Amazon Boasting itself as the world’s most efficient shaver, the Braun Series 9 Pro electric trimmer can handle a dry shave on beards that have grown for up to seven days. That’s obviously going to vary from person to person, but it gives you a rough idea of the length of stubble the shaver can mow through. What makes the Braun Series 9 Pro stand apart from other trimmers on the marker is its auto-sense technology which can adapt to different beard densities, giving them each the perfect trim. The razor is gentle on the skin, utilizing a protective skin guard and its sonic technology works by vibrating at 10,000 microvibrations per minute, smoothly gliding across your face. Built to Last The Braun Series 9 Pro is designed to be your go-to razor and last you awhile . The shave can last for up to seven years. It can be used wet or dry as its 100% waterproof, great for those who prefer shaving in the shower. You can even sue it with foam or gel. The shaver head itself is designed to last up to 18 months. The razor is cordless, with a powerful lithium battery that can fully charge in one hour for one hour of shaving time, which roughly equates to a bout a month of shaves. A quick five-minute charge will set you up for a single shave if you realize you forgot to put it back on the charging stand. In the box, you get the Braun Series 9 Pro electric razor, the charging stand, a leather travel case, cleaning brush, charging cord, and the user manual. As part of the Amazon’s early Black Friday deals, the price of the Braun Series 9 Pro electric razor has been trimmed down to just $240. Normally it goes for $300 so you’re getting it for 20% off, saving you a solid $80. See at Amazon
( MENAFN - Gulf Times) In recent years, the concept of Digital Public Infrastructure (DPI) has gained significant attention from the international community, including the UN and the G20, as a new policy paradigm for development. But understanding the risks of DPI is crucial to ensuring that its potential benefits materialise. The risks stem from the fact that“digital public infrastructure” lacks a clear definition. The term encompasses the many digital technologies that serve as economic and social infrastructure, from digital identification and payment systems to data exchanges and health services. As a policy initiative, though, DPI refers to a vague vision of using these technologies to serve the public interest. This could result in the Internet and technological innovation working for everyone – or just as easily turn them into tools for political control. In discussions about DPI, policymakers often point to cases that highlight how technology and connectivity can spur development. They frequently cite India's Unified Payments Interface, which has expanded financial inclusion and reduced the costs of digital transactions for its hundreds of millions of users. It is also understood that such infrastructure is to be built with Digital Public Goods (DPGs), a concept that encompasses open-source software, open standards, and other non-proprietary components. This definition is partly intended to position DPIs as being“for the public” but also to enhance competition and mitigate concentrations of power in the global digital economy. Lastly, proponents point out that DPI could bolster international co-operation, particularly as the 20-year review of the World Summit on the Information Society (WSIS) approaches. This important UN initiative has provided the framework for countries to collaborate on digital development. Although authoritarian states have previously sought to assert greater control over the Internet's governance during these negotiations, a focus on promoting DPI could avoid this politicised debate and instead foster a constructive agenda to bridge digital divides. But basing policy on such an ill-defined concept poses significant risks. Ideally, governments would convene other stakeholders to create an enabling environment for DPI and safeguard users' rights and interests. It is easy to imagine, however, that some governments will place their own interests above civil liberties and fundamental rights, using this infrastructure for surveillance and targeting in the name of law enforcement or national security. An especially pernicious example could involve the monitoring and regulation of individual behaviour through dystopian social-credit systems. Moreover, while many proponents hope that DPI could chip away at Big Tech's outsize power, it has also been associated with narratives of digital sovereignty that could contribute to the Internet's fragmentation – a systemic threat to global communications. For example, one can imagine scenarios in which some governments challenge the multi-stakeholder model for governing global Internet resources like IP addresses and domain names on the grounds that they constitute DPIs. The policy vision of DPI will continue to evolve, and ongoing discussions, it is hoped, will help identify and clarify further opportunities and risks. Initiatives such as the UN's Universal DPI Safeguards Framework, which seeks to establish guardrails for DPI, are a promising start. But much more must be done. For example, the UN's framework has recognised the need for continuous learning to ensure that the right safeguards are in place. As the concept of DPI gains traction in the UN system and other multilateral organisations, vigorous and informed debate regarding its potential advantages – and pitfalls – will be essential. With clear-cut policy guidelines and protections, we can help prevent these technologies from becoming tools for surveillance and repression, ensure that everyone benefits from the burgeoning digital economy, and keep the Internet open, globally connected, and secure. – Project Syndicate MENAFN23122024000067011011ID1109025649 Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.
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