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Apple is reportedly scaling back production of its Vision Pro headsets due to disappointing sales and user feedback. The device, launched at $3,500, has not met sales expectations, leading to a reduction in daily production and potential discontinuation by year-end.
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California Governor Gavin Newsom plans to revive a state rebate program for electric vehicles (EVs) if the incoming Trump administration eliminates the federal $7,500 tax credit. This move comes amid concerns over potential declines in EV sales and a broader conflict over environmental policies.
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The fragile ceasefire between Israel and Hezbollah faces new challenges as both sides exchange fire. U.S. officials express concern over Israeli airstrikes in Lebanon, while diplomatic efforts continue to stabilize the situation. The ceasefire aims to facilitate civilian returns after over a year of conflict, which has resulted in significant casualties.
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The Biden administration is contemplating new sanctions targeting Russian oil exports as it prepares to leave office. This shift comes amid concerns over President-elect Trump's approach to Russia and aims to increase pressure on Moscow before the transition. The potential measures could impact global oil prices and Russia's military funding.
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Donald Trump has nominated former Congresswoman Chavez-DeRemer as Labor Secretary, a move that signals a potential shift in his administration's approach to labor issues. Despite her pro-labor record, skepticism remains regarding her influence in a historically anti-labor administration. The Senate confirmation process will be closely watched.
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UK retail sales fell by 0.7% in October, marking the first decline in three months. Clothing stores were particularly affected as consumers held back spending ahead of the Labour government's first budget. Despite this drop, sales volumes increased by 0.8% over the previous three months, indicating mixed consumer confidence.
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President-elect Donald Trump has nominated Paul Atkins, a former SEC commissioner and crypto advocate, to lead the Securities and Exchange Commission. This move aligns with Trump's goal to reshape U.S. cryptocurrency regulations, coinciding with Bitcoin surpassing $100,000, reflecting a significant shift in the regulatory landscape for digital assets following Trump's election victory.
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On December 3, 2024, the US Commerce Department added 140 Chinese chip-related firms to a trade blacklist, escalating restrictions on China's semiconductor industry. Representative John Moolenaar raised concerns about loopholes in the new export controls, which he believes allow some Chinese firms to evade sanctions.
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California Governor Gavin Newsom announced plans to revive state rebates for electric vehicles (EVs) if the incoming Trump administration eliminates federal tax credits. The proposal aims to promote competition in the EV market, potentially excluding Tesla, which dominates California's EV sales.
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President-elect Donald Trump has announced plans to impose significant tariffs on imports from Mexico, Canada, and China, aiming to curb illegal immigration and drug trafficking. Economists warn these tariffs could lead to increased consumer prices, particularly for electronics and other imported goods, as early as January 20, 2025.
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Intel's funding under the CHIPS Act has been reduced to $7.9 billion from an initial $8.5 billion due to a separate $3 billion military contract. The company aims to invest $90 billion in U.S. semiconductor manufacturing by 2030, despite facing financial challenges and project delays.
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The Biden administration announced a $6.85 billion loan to finance two battery factories in Indiana, a joint venture between Stellantis and Samsung. This follows a $6.6 billion loan to Rivian for an electric vehicle factory in Georgia. The loans aim to bolster domestic EV manufacturing amid political tensions with the incoming Trump administration.
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The U.S. Labor Department has proposed a rule to phase out the subminimum wage for workers with disabilities, a practice that has been declining. This change aims to enhance employment opportunities and economic independence for these workers, reflecting a shift in societal attitudes towards disability employment.
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The Biden administration's $7.5 billion investment in electric vehicle charging infrastructure faces uncertainty as incoming President Trump plans to cut EV incentives. While some funding has been approved, concerns grow over the future of the National Electric Vehicle Infrastructure program and its impact on the EV market.
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Three American citizens, Mark Swidan, Kai Li, and John Leung, have been released from Chinese detention in a rare diplomatic agreement between the U.S. and China. Their release follows a prisoner swap, marking a significant development in U.S.-China relations just before the transition to a new administration.
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In response to expanded US technology restrictions, China has implemented a broad ban on the transshipment of critical minerals and dual-use items to American firms. This escalation highlights the growing tensions in US-China trade relations, with significant implications for global supply chains and technology sectors.
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Recent Israeli airstrikes in Gaza have resulted in significant casualties, including children, amid ongoing tensions with Hezbollah in Lebanon. The humanitarian crisis in Gaza worsens as hostages remain unaccounted for, while Israel threatens expanded military action if ceasefire violations continue.
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Mark Zuckerberg and Donald Trump are mending their previously strained relationship as Zuckerberg seeks to influence tech policy in the incoming administration. Their recent dinner at Mar-a-Lago highlights Zuckerberg's desire to engage with Trump's team on issues like artificial intelligence and content moderation, amid a backdrop of shifting dynamics in the tech industry.
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As Donald Trump prepares for his second term, state lawmakers are proposing new immigration laws that empower local law enforcement to arrest undocumented immigrants. These proposals align with Trump's hardline immigration agenda, which includes mass deportations and increased border security measures. Resistance is growing in Democratic-led states like California.
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As flu season begins, the H5N1 avian flu is infecting dairy herds in California, raising fears of a potential pandemic. Meanwhile, a New Zealand inquiry highlights the impact of vaccine mandates during Covid-19, emphasizing the need for better pandemic preparedness.
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The U.S. Supreme Court is hearing arguments in United States v. Skrmetti, a case challenging Tennessee's ban on gender-affirming care for minors. The ACLU represents families arguing the law discriminates against transgender youth, while Tennessee defends the ban as a protective measure. The outcome could significantly impact transgender rights nationwide.
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Chad Chronister, Hillsborough County Sheriff, has withdrawn from consideration for the DEA administrator position, citing the weight of the responsibility. President-elect Trump claimed he removed Chronister due to dissatisfaction with his comments to supporters. This follows the withdrawal of another nominee, Matt Gaetz, amid controversy.
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On December 2, 2024, the US announced new export restrictions targeting Chinese chipmakers and suppliers. The measures aim to limit China's access to advanced semiconductor technology, particularly for military applications, as tensions between the two nations escalate. This marks a significant step in the ongoing tech rivalry.
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As trade tensions rise, countries are increasingly pushing back against China's practices, particularly in the solar and manufacturing sectors. Tariffs and anti-dumping measures are being implemented as local industries struggle to compete with cheap Chinese imports, raising concerns about economic sovereignty and future growth. This trend is gaining momentum post-COVID-19.
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Intel's CEO Pat Gelsinger has resigned amid significant financial losses and competitive pressures from rivals like Nvidia. Interim leaders David Zinsner and Michelle Johnston Holthaus will guide the company as it seeks a new CEO while grappling with a 52% drop in stock value this year and a $16.6 billion quarterly loss.
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As the Biden administration rushes to finalize energy loans before Donald Trump's inauguration, the Department of Energy has committed billions to clean energy projects. However, uncertainty looms over the future of these initiatives as Trump has pledged to cut federal spending on such programs.
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As the Biden administration approaches its end, it is expediting military aid to Ukraine, including a $725 million package featuring advanced weaponry. This comes amid concerns over future US support under President-elect Trump, who has indicated a shift in policy towards Ukraine.
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General Motors has reached a nonbinding agreement to sell its stake in a Lansing, Michigan battery factory to LG Energy Solution for about $1 billion. This move aims to recoup GM's investment amid slowing electric vehicle demand, as the factory has yet to begin production. GM will focus on existing joint ventures for battery supply.
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On December 3, 2024, China announced an immediate ban on exports of dual-use minerals, including gallium and germanium, to the US. This move follows recent US export controls targeting China's chip industry, escalating tensions between the two nations over technology and trade.
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Tesla has lobbied the UK government to strengthen its Zero Emission Vehicle (ZEV) mandate, advocating for stricter regulations on electric vehicle sales. Despite CEO Elon Musk's public criticisms of the Labour government, Tesla's lobbying efforts highlight a push for enhanced policies to support electric vehicle adoption amid industry challenges.
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At the New York Times DealBook Summit, Jeff Bezos expressed optimism about Donald Trump's second term, highlighting potential regulatory reforms. Bezos aims to assist in reducing government regulations, marking a shift from their previously contentious relationship. Other tech leaders are also signaling support for Trump's administration, indicating a new era for business and politics.
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A new study reveals that young adults under 35 in Mexico are increasingly vulnerable to heat-related deaths, accounting for 75% of fatalities from 1998 to 2019. The findings suggest a shift in mortality patterns as climate change exacerbates heat exposure, particularly among outdoor workers and active youth.
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Following the collapse of Bashar al-Assad's regime, U.S. officials are ramping up efforts to locate Austin Tice, an American journalist missing in Syria since 2012. His family has received credible information suggesting he is alive, raising hopes for his recovery amidst ongoing turmoil in Syria.
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The recent shooting of Brian Thompson in Manhattan has intensified scrutiny on ghost guns, untraceable firearms often made with 3D printers. Arrested suspect Luigi Mangione was found with a ghost gun capable of firing 9mm rounds. The rise in ghost gun-related crimes has prompted calls for stricter regulations.
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Kroger's proposed $24.6 billion merger with Albertsons has been halted by U.S. District Court rulings citing antitrust concerns. Albertsons has filed a lawsuit against Kroger for $600 million, claiming it failed to secure regulatory approval. The merger aimed to enhance competition against giants like Walmart and Amazon.
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In response to new US tariffs on solar products and semiconductors, China has imposed export restrictions on critical minerals. This escalation signals a potential trade war as President-elect Trump prepares to implement significant tariffs on imports, particularly targeting China, raising concerns about economic repercussions.
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As trade tensions between the US and China escalate, both nations are preparing for renewed economic confrontations. President-elect Trump has signaled a return to aggressive tariffs, while China emphasizes dialogue to manage differences. Recent meetings aim to address ongoing disputes over trade practices and technology transfers.
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As tensions rise over the ongoing war in Ukraine, the Biden administration is contemplating the seizure of Russian assets in the U.S. to bolster support for Ukraine. This comes amid concerns about future U.S. aid under President-elect Trump, who may not prioritize Ukraine's defense.
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The Consumer Financial Protection Bureau has finalized a rule to limit overdraft fees for large banks, allowing them to charge a maximum of $5 or to disclose terms for higher fees. This rule aims to reduce financial burdens on consumers, particularly low-income households, and is set to take effect in October 2025.
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On December 16, 2024, Palestinian security forces launched a significant operation in the Jenin refugee camp, targeting local militant groups. The raid, which has resulted in casualties, marks a rare crackdown by the Palestinian Authority amid escalating violence in the West Bank since the October 2023 Hamas attack on Israel.
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The Consumer Financial Protection Bureau has filed a lawsuit against JPMorgan Chase, Bank of America, and Wells Fargo, alleging they failed to protect consumers from fraud on the Zelle payment platform. The lawsuit claims over $870 million was lost due to inadequate safeguards and insufficient responses to fraud complaints since Zelle's launch in 2017.
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A new Energy Department study warns that increasing U.S. liquefied natural gas (LNG) exports could raise domestic energy prices and greenhouse gas emissions. The findings come as the Biden administration paused new LNG export approvals, a move criticized by the oil and gas industry but welcomed by environmentalists.
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The EPA has granted California waivers to enforce strict vehicle emissions standards, including a ban on new gas-powered cars by 2035. This decision is expected to face immediate challenges from the incoming Trump administration, which has pledged to roll back Biden-era climate policies.
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As President-elect Trump prepares to take office, he aims to initiate the largest mass deportation in U.S. history. This follows a significant increase in deportations under the Biden administration, raising concerns among immigrant communities about the future of Temporary Protected Status (TPS) and potential legal challenges.
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The New Jersey Supreme Court has temporarily paused a ruling that would return control of Paterson's police department to local officials. Attorney General Matt Platkin's oversight remains in place as the appeal process continues, following a controversial police takeover initiated after the death of Najee Seabrooks in 2023.
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The US has decided to lift the $10 million bounty on Ahmad al-Sharaa, leader of Hayat Tahrir al-Sham (HTS), following a diplomatic meeting in Damascus. US officials noted his commitment to preventing terrorism in Syria, marking a significant shift in US policy towards the group.