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What a merger between Nissan and Honda means for the automakers and the industry
By Laura Matthews NEW YORK, - After closing the books on a banner year for U.S. stocks, investors expect to ride seasonal momentum into mid-January when a slew of economic data and a transition of power in Washington could send markets moving. The S&P 500 rose roughly 25% in 2024 through Dec. 27, while the technology-heavy Nasdaq Composite index , which surpassed 20,000 for the first time in December, is up over 31%. On Friday, however, stocks sold off amid some profit taking and questions about how markets could perform in January, according to analysts and traders. "There are concerns that maybe the first part of year can involve some repositioning and reallocation of funds and those that are trading today and next week are probably just trying to get a little bit ahead of that," said Robert Pavlik, senior portfolio manager at Dakota Wealth. Stocks tend to do well in the last five trading days of December and into the first two days of January, a phenomenon dubbed the Santa Claus rally, which has driven S&P gains of an average of 1.3% since 1969, according to the Stock Trader's Almanac. Despite the Friday selloff, for the last five trading sessions, the S&P rose 1.77%, while the Nasdaq was up 1.8%. Just how long upward momentum lasts will depend on several forces that could help drive markets in 2025. Monthly U.S. employment data on Jan. 10 should give investors a fresh view into the health and strength of the U.S. economy. Job growth rebounded in November following hurricane- and strike-related setbacks earlier in the year. The market's strength will be tested again shortly after, when U.S. companies start reporting fourth-quarter earnings. Investors anticipate a 10.33% earnings per share growth in 2025, versus a 12.47% expected rise in 2024, according to LSEG data, although excitement over President-elect Donald Trump's policies is expected to boost the outlook for some sectors like banks, energy and crypto. "There's the hope that taxes and regulations will be lowered or reduced next year, that will help support corporate profits, which are what drive the market in the first place," said Michael Rosen, chief investment officer at Angeles Investments. Trump's inauguration on Jan. 20 could also throw the markets some curve balls. He is expected to release at least 25 executive orders in his first day on a range of issues from immigration to energy and crypto policy. Trump has also threatened tariffs on goods from China and levies on products from both Mexico and Canada, as well as to crack down on immigration, creating costs that companies could ultimately pass on to consumers. Helen Given, associate director of trading at Monex USA, said a new administration always brings with it a large degree of uncertainty. There is also a good chance the impact of the Trump administration's expected trade policies is far from fully priced into global currency markets, she added. "We're looking ahead to see which of those proposed policies actually are enacted, which might be further down the pipeline," Given said, adding she expected a big impact on the euro, Mexican peso, the Canadian dollar, and the Chinese yuan. The conclusion of the Federal Reserve's first monetary policy meeting of the year in late January could also present a challenge to the U.S. stocks rally. Stocks tumbled on Dec. 18 when the Fed implemented its third interest-rate cut for the year and signaled fewer cuts in 2025 because of an uncertain inflation outlook, disappointing investors who had expected lower rates to boost corporate profits and valuations. Still, that could be good for alternative assets like cryptocurrencies. The incoming crypto-friendly Trump administration is adding to a number of catalysts that are boosting crypto investors' confidence, said Damon Polistina, head of research at investment platform Eaglebrook Advisors. Bitcoin surged above $107,000 this month on hopes of friendlier Trump policies. This article was generated from an automated news agency feed without modifications to text.Zilinskas scores 32 as IU Indianapolis downs Alabama A&M 88-83People Share The 'Big Purchases' They Say Were Worth Every Penny
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Unions attack 2.8% Government pay rise proposal for NHS workers and teachersBANGKOK — 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. Nissan Chief Executive Makoto Uchida, left, and Honda Chief Executive Toshihiro Mibe, center, and Takao Kato CEO of Mitsubishi Motors, right, arrive to attend a joint news conference Monday, Dec. 23, 2024, in Tokyo, Japan. (AP Photo/Eugene Hoshiko) 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. Nissan Chief Executive Makoto Uchida, left, Honda Chief Executive Toshihiro Mibe, center, and Takao Kato, CEO of Mitsubishi Motors, right, pose for photographers during a joint news conference in Tokyo, Japan, Monday, Dec. 23, 2024. (AP Photo/Eugene Hoshiko) 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." 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. 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. Airbags, advanced driver assistance features, and high-strength materials mean that the safest cars today are far better at protecting people from injuries than ever before. Although most new cars compare well to their predecessors, some stand above the rest. The safest cars for 2025 offer excellent occupant protection and also do a good job of preventing accidents from happening in the first place. Based on testing data from the Insurance Institute for Highway Safety , or IIHS, and the National Highway Traffic Safety Administration , or NHTSA, these are some of the safest cars available today. Ranging from inexpensive compact cars and mainstream midsize sedans to stylish station wagons, posh luxury cars, and sporty coupes and convertibles, Edmunds shares a list that has something for just about everyone. For those who prefer a higher seating position and maybe some added practicality, Edmunds' list of safest SUVs is for you. The stylish Mazda 3 has a lot to offer compact-car shoppers, including great looks, a composed driving experience, and reasonable fuel economy from its base 2.0-liter engine. It's also one of the safest cars in its class, earning a perfect five stars in NHTSA crash testing and sterling crashworthiness and collision avoidance scores from the IIHS. Its standard features are forward collision warning, automatic emergency braking, and lane departure prevention. With mature styling, a premium interior, and an efficient hybrid powertrain option, the 2025 Honda Civic is a great option if safety is a concern since it aces almost all of the IIHS' crash tests and earns a five-star safety rating from the federal government. It also comes standard with adaptive cruise control, lane departure prevention, and forward collision warning with automatic emergency braking. The Civic falls short slightly in the IIHS' updated moderate overlap front test, which now accounts for rear passenger safety, but even so, it's one of the safest cars in its class. Reflective of parent company BMW, today's Mini Cooper is well constructed and features premium safety features that belie its small size, including automatic emergency braking and forward collision warning. Although the Mini hasn't been tested by NHTSA, the IIHS gives the Cooper its highest score of Good in the original driver-side small overlap front, moderate overlap front, and side-impact tests. That said, the IIHS doesn't place the Cooper on its Top Safety Pick or Top Safety Pick+ lists since it hasn't been evaluated on the updated battery of passenger-side small overlap front, moderate overlap front, or side-impact tests. Expect the new-for-2025 Mini Cooper to earn decent crash ratings in those scenarios, especially since it shares its strong platform with the outgoing model. With its recent redesign, the Toyota Prius transformed from a frumpy little caterpillar to a stylish and efficient butterfly. It also became a very safe hybrid hatchback. Perfect scores in all of its government and IIHS crash tests, as well as a sophisticated system of collision avoidance technology, earn it top marks. It's also one of our favorite cars on the market, period, as evidenced by its status as a 2024 Edmunds Top Rated vehicle. The Honda Accord is among the safest midsize sedans on the market today thanks to excellent crashworthiness scores and a competent standard collision prevention system. It's a Top Safety Pick+, beating out rivals like the Hyundai Sonata, Kia K5, and Subaru Legacy, and the Accord also earns a perfect five-star rating from NHTSA. Honda's hybrid-intensive product planning is on full display here—all but the two lowest Accord trims have a hybrid powertrain—and it's also among the most spacious cars in its class. Like its Honda Accord rival, the Toyota Camry is also an IIHS Top Safety Pick+ with a five-star NHTSA rating. It also has a very impressive suite of driver assistance and safety technology, including lane departure prevention with active centering, full-speed adaptive cruise control, and automatic emergency braking. The Camry edges out the Accord in IIHS testing thanks to a more effective collision avoidance system, but both cars are remarkably well matched otherwise. The fully electric Hyundai Ioniq 6 offers excellent safety and collision prevention, with excellent scores across the entire line of IIHS tests. The Ioniq 6 hasn't been tested for rollover resistance by NHTSA, but it earned a four-star front safety rating and a five-star side-impact rating in government tests. Like most EVs, the Hyundai Ioniq 6 comes standard with forward collision warning, automatic emergency braking, and lane departure prevention. It also offers up to 342 miles of all-electric driving in its longest-range trim level. The Acura Integra is a close mechanical cousin to the Honda Civic, so it's no surprise it does well in both the IIHS' and NHTSA's crash tests. The luxury hatchback is a Top Safety Pick+ and earns a perfect five stars in government testing. The AcuraWatch safety suite is standard on the Integra, bringing automatic emergency braking, lane centering, lane departure prevention, and adaptive cruise control. The Mercedes-Benz C-Class is a safe option in the popular small luxury sedan segment thanks to its good scores in IIHS crash testing. Mercedes' best-selling sedan also comes standard with automatic emergency braking and forward collision warning, which helps it earn a Top Safety Pick award. However, it hasn't been tested by the NHTSA. Both the Genesis G80 and the fully electric Genesis Electrified G80 earn a Top Safety Pick+ score from the IIHS thanks to their good scores on the agency's crash tests, as well as a comprehensive suite of active safety features that avoided collisions with simulated pedestrians. The internal-combustion-engine G80 earned a perfect five-star safety rating from NHTSA, and although the Electrified G80 hasn't been tested by the feds just yet, it should likely excel in those tests too. The flagship Genesis G90 sedan competes with the Mercedes-Benz S-Class and BMW 7 Series, and the South Korean automaker clearly hasn't skimped on safety in its fight against the establishment. Although it hasn't been subjected to the NHTSA array of tests, it aced almost all of its IIHS tests, and a long list of standard active safety and driver assistance features sets it apart from the stingy German makes that charge extra for them. With handsome styling and a well-finished interior, the Volvo V60 is a very appealing station wagon for those looking for such a thing. It's also quite safe, with good crashworthiness scores in the IIHS' original moderate overlap front and side-impact scores. Unfortunately, since it hasn't been tested with the updated versions of those tests, it didn't earn this year's Top Safety Pick award, but it was called a Top Safety Pick+ in 2022. NHTSA also gives the V60 a five-star safety rating. Although the Mercedes-Benz E 450 All-Terrain isn't a traditional wagon — it follows the lifted almost-crossover formula shared with the Audi A6 Allroad and Volvo V90 Cross Country — we'll take what we can get in this dwindling category. The All-Terrain hasn't been tested by the IIHS or NHTSA, but a previous-generation E-Class earned a 2023 Top Safety Pick+ award, and Mercedes isn't the kind of company that goes backward when it comes to safety. The E 450 All-Terrain comes standard with automatic emergency braking and forward collision warning, though, at this price, Benz should just make other active safety features standard. With a five-star NHTSA safety rating, standard forward collision warning and emergency braking, and excellent IIHS crashworthiness scores on its original tests, the Audi A6 Allroad does a good job protecting people (both passengers and pedestrians) from crashes. However, since the IIHS hasn't subjected the Allroad to its updated side and moderate front crash criteria, it lost its Top Safety Pick+ status in 2022. Still, it should be a fine option for luxury longroof shoppers. Both the Ford Mustang coupe and convertible perform well in crash testing. The coupe received a five-star safety rating from NHTSA, and both variants scored decently on all the IIHS tests they've undergone. They also come standard with forward collision warning, lane departure prevention, and automatic emergency braking. However, the IIHS needs to test both models on its updated criteria before it will rate them. Although the government hasn't tested it, the Toyota GR86 aced all of its IIHS crashworthiness tests when it was new for the 2022 model year. Unfortunately, since it hasn't been subjected to the IIHS' updated testing since then, it lost its Top Safety Pick+ status. Still, this is a fun-to-drive, sporty coupe that comes standard with a long list of active safety features, and it's reasonably priced to boot. Mechanically identical to the Toyota GR86, the 2025 Subaru BRZ achieves the same safety ratings—who would have thought? It likewise received a Top Safety Pick+ score in 2022 that lapsed when the IIHS updated its criteria for 2023, but like the Toyota, it has a long list of active safety features to go along with its lightweight, rip-roaring sports car attitude. The Audi A5 lost its traditional two-door coupe body style after 2024, but the five-door Sportback body style remains before it's replaced later in 2025. Although it hasn't seen the IIHS' more stringent test regimen, its original crashworthiness scores were good enough to earn it a Top Safety Pick award as recently as 2022. The Sportback is the only variant to be tested by the government, where it earned a five-star safety rating. This story was produced by Edmunds and reviewed and distributed by Stacker. Get the latest local business news delivered FREE to your inbox weekly.Standard Motor Products Releases 2,367 New Numbers in 2024
BEIRUT — Israel's military launched airstrikes across Lebanon on Monday, unleashing explosions throughout the country and killing at least 31 while Israeli leaders appeared to be closing in on a negotiated ceasefire with the Hezbollah militant group. Israeli strikes hit commercial and residential buildings in Beirut as well as in the port city of Tyre. Military officials said they targeted areas known as Hezbollah strongholds. They issued evacuation orders for Beirut's southern suburbs, and strikes landed across the city, including meters from a Lebanese police base and the city's largest public park. The barrage came as officials indicated they were nearing agreement on a ceasefire, while Israeli Prime Minister Benjamin Netanyahu 's Security Cabinet prepared to discuss an offer on the table. Bulldozers remove the rubble of a destroyed building Monday that was hit in an Israeli airstrike in Dahiyeh, in the southern suburb of Beirut, Lebanon. Foreign ministers from the world’s leading industrialized nations also expressed cautious optimism Monday about possible progress on a ceasefire. “Knock on wood,” Italian Foreign Minister Antonio Tajani said as he opened the Group of Seven meeting outside Rome. “We are perhaps close to a ceasefire in Lebanon," he said. "Let's hope it's true and that there's no backing down at the last-minute.” A ceasefire in Gaza and Lebanon was foremost on the agenda of the G7 meeting in Fiuggi, outside Rome, that gathered ministers from Canada, France, Germany, Italy, Japan, the United Kingdom and the United States, in the last G7 encounter of the Biden administration. For the first time, the G7 ministers were joined by their counterparts from Saudi Arabia, Egypt, Jordan, the United Arab Emirates and Qatar, as well as the Secretary General of the Arab League. Thick smoke, flames and debris erupt Monday from an Israeli airstrike that targeted a building in Tayouneh, Beirut, Lebanon. Meanwhile, massive explosions lit up Lebanon's skies with flashes of orange, sending towering plumes of smoke into the air as Israeli airstrikes pounded Beirut's southern suburbs Monday. The blasts damaged buildings and left shattered glass and debris scattered across nearby streets. Some of the strikes landed close to central Beirut and near Christian neighborhoods and other targets where Israel issued evacuation warnings, including in Tyre and Nabatiyeh province. Israeli airstrikes also hit the northeast Baalbek-Hermel region without warning. Lebanon's Health Ministry said Monday that 26 people were killed in southern Lebanon, four in the eastern Baalbek-Hermel province and one in Choueifat, a neighborhood in Beirut's southern suburbs that was not subjected to evacuation warnings on Monday. The deaths brought the total toll to 3,768 killed in Lebanon throughout 13 months of war between Israel and Hezbollah and nearly two months since Israel launched its ground invasion. Many of those killed since the start of the war between Israel and Hezbollah have been civilians, and health officials said some of the recovered bodies were so severely damaged that DNA testing would be required to confirm their identities. Israel claims to have killed more than 2,000 Hezbollah members. Lebanon's Health Ministry says the war has displaced 1.2 million people. Destroyed buildings stand Monday in the area of a village in southern Lebanon as seen from northern Israel. Israeli ground forces invaded southern Lebanon in early October, meeting heavy resistance in a narrow strip of land along the border. The military previously exchanged attacks across the border with Hezbollah, an Iran-backed militant group that began firing rockets into Israel the day after the war in Gaza began last year. Lebanese politicians have decried the ongoing airstrikes and said they are impeding ceasefire negotiations. The country's deputy parliament speaker accused Israel of ramping up its bombardment to pressure Lebanon to make concessions in indirect ceasefire negotiations with Hezbollah. Elias Bousaab, an ally of the militant group, said Monday that the pressure has increased because "we are close to the hour that is decisive regarding reaching a ceasefire." Israeli officials voiced similar optimism Monday about prospects for a ceasefire. Mike Herzog, the country's ambassador to Washington, earlier in the day told Israeli Army Radio that several points had yet to be finalized. Though any deal would require agreement from the government, Herzog said Israel and Hezbollah were "close to a deal." "It can happen within days," he said. Israeli officials have said the sides are close to an agreement that would include withdrawal of Israeli forces from southern Lebanon and a pullback of Hezbollah fighters from the Israeli border. But several sticking points remain. A member of the Israeli security forces inspects an impact site Sunday after a rocket fired from Lebanon hit an area in Rinatya, outskirts of Tel Aviv, Israel. After previous hopes for a ceasefire were dashed, U.S. officials cautioned that negotiations were not yet complete and noted that there could be last-minute hitches that either delay or destroy an agreement. "Nothing is done until everything is done," White House national security spokesman John Kirby said Monday. The proposal under discussion to end the fighting calls for an initial two-month ceasefire during which Israeli forces would withdraw from Lebanon and Hezbollah would end its armed presence along the southern border south of the Litani River. The withdrawals would be accompanied by an influx of thousands more Lebanese army troops, who have been largely sidelined in the war, to patrol the border area along with an existing U.N. peacekeeping force. Western diplomats and Israeli officials said Israel demands the right to strike in Lebanon if it believes Hezbollah is violating the terms. The Lebanese government says such an arrangement would authorize violations of the country's sovereignty. There are many obstacles preventing shoppers from upholding eco-friendly habits as much as they may want to—but not all of these barriers are necessarily real, or accurately understood. Shopping sustainably simply isn't convenient or accessible for many. Those who live in apartment buildings are 50% less likely to recycle , according to Ipsos. Reasons for this can vary from lack of space to buildings being excluded altogether because of recycling contamination issues. Many believe that sustainable products are too expensive or of a lower quality. The former is often true, which does create a hurdle for many: The manufacturing processes and materials for sustainable products are pricey. For instance, organic cotton requires an intensive production process free of certain chemicals or pesticides; by definition, true eco-friendly products can't be mass-produced, further upping their price tag. Using recycled materials for packaging, or obtaining an eco certification, can also be expensive. However, although the narrative of eco-friendly products being more expensive is true, there is often more of an effort to use better quality materials that last longer than their noneco-friendly counterparts. This could end up saving consumers money in the long run: By paying more upfront, they can get more wear out of sustainable fashion, for instance. There is also undeniable political rhetoric surrounding eco-friendly products—however, despite many Conservative politicians decrying sustainable products, members of all generations are increasingly choosing to prioritize shopping sustainably regardless of their political affiliation, according to research from NYU Stern Center for Sustainable Business . This finding shows a trend toward seeing sustainability as a nonpartisan subject everyone can benefit from, no matter where they lie on the political spectrum. Some might think eco-friendly clothing, in particular, is not fashion-forward; after all, many of the top clothing retailers in the world partake in fast fashion. However, brands are increasingly being recognized as 'cool' and 'trendy' for supporting environmentally ethical practices, particularly as younger generations prioritize sustainability, as noted before. Many increasingly popular online stores are taking advantage of this paradigm shift by offering secondhand shopping options that are not only fashionable, but also more affordable, like ThredUp or Poshmark. Additionally, many legacy large-name brands are hopping on the sustainability movement and are gaining appreciation from loyal customers. Amazon's Climate Pledge Friendly program partners with third-party certification bodies to make it easier for shoppers to identify eco-friendly products as they browse the website. H&M's newly launched H&M Rewear program debuts a resale platform that allows the resale of all clothing brands—not just their own. Similarly, Patagonia's Worn Wear program allows shoppers to trade in and buy used gear and clothing. The federal government is also working to close this gap. The Environmental Protection Agency's Safer Choice program is attempting to make sustainable shopping easier for consumers and companies alike. It includes a directory of certified products, a list of safer chemicals to look out for on labels, a "Safer Choice" label that products can earn to denote they are eco-friendly, and resources for manufacturers looking to adopt more sustainable practices. Most of all, though, the biggest way shoppers can shift toward sustainable shopping is through their behaviors and attitudes amongst their peers and communities. Studies show that humans largely care what others think of their actions; the more shoppers make environmentally conscious shopping the norm, the more others will follow suit. From an economic perspective, the more consumers shop eco-friendly, the more affordable and accessible these products will become, too: Sustainable products are currently more expensive because they are not in high demand. Once demand rises, production rates and prices can lower, making these products more accessible for all. Story editing by Carren Jao. Additional editing by Kelly Glass. Copy editing by Kristen Wegrzyn. This story originally appeared on The RealReal and was produced and distributed in partnership with Stacker Studio. On paper, being more sustainable and eco-friendly while shopping sounds great—so why don't more people do it? There is growing consumer consciousness about the environmental impact of where people choose to shop and the sustainability of the products they buy. According to McKinsey, over 60% of individuals surveyed in 2020 said they would be willing to pay more for a product that is packaged in an eco-friendly way. Since 2019, products marketed as being environmentally sustainable have seen a 28% growth in revenue compared to 20% for products with no such marketing, a 2023 McKinsey and NielsenIQ report found. Much of this is thanks to the preferences and attitudes of Gen Z, who, on average, care more than their older counterparts about being informed shoppers. The younger generation also has more social justice and environmental awareness altogether. Shoppers are willing to spend around 9.7% more on a product they know is sourced or manufactured sustainably, with 46% saying they would do so explicitly because they want to reduce their environmental footprint, according to a 2024 PwC report. Sustainable practices consumers look for from companies include production methods, packaging, and water conservation. But despite the growing consciousness around being more environmentally responsible, consumer actions don't always align with their values. In psychology, this is defined as the "say-do gap": the phenomenon wherein people openly express concern and intention around an issue, but fail to take tangible action to make a change. According to the Harvard Business Review in 2019, most consumers (65%) say they want to buy from brands that promote sustainability, but only 1 in 4 follow through. So why don't people actually shop sustainably, despite how much they express a preference for eco-friendly products—and how can we close the gap? The RealReal examined reports from the Harvard Business Review and other sources to explore why some shoppers want to buy sustainably but struggle to follow through. This lack of action isn't due to a lack of caring—in many cases, it's hard to know how to be a sustainable consumer and other factors are often outside of shoppers' control. But the more people shop sustainably, the easier and more accessible that market will be for everyone—making it much easier for folks to buy aligned with their values. Get local news delivered to your inbox!
NEW YORK--(BUSINESS WIRE)--Nov 25, 2024-- MARQUEE Wireless Inc., a company specializing in integration and deployment of cellular, IoT and edge computing technologies for cellular networks and Smart Cities, and Veea Inc. (NASDAQ: VEEA), a pioneer in hyperconverged Multiaccess Edge Computing (MEC) with AI-driven cybersecurity and edge solutions, announced a partnership for a visionary initiative to roll out a transformative solution based on MARQUEE’s patented SMARTCELLTM platform supported by Veea’s Decentralized Physical Infrastructure Network (DePIN) to accelerate the introduction of MEC solutions with Edge AI as an extension of cellular network infrastructure. "It is a pleasure to work with the Veea team to extend the capabilities of our revolutionary, modular SMARTCELLTM platform for cellular networks and Smart Cities with IoT, Mobile-Edge computing and AI," said Dimitrios Lalos, MARQUEE’s founder and CEO. "The MARQUEE team is pioneering advancements in the deployment of cellular solutions enhanced with innovative, fully patented technology. Our combined knowledge, expertise and products will make its mark for the cellular industry together with Veea’s first-of-a-kind technologies in AI-driven cybersecure connectivity with network slicing to protect the Smart City endpoints at the edge, and preserve data privacy by processing raw data for innovative applications with Edge AI locally in SMARTCELLs with process automation and energy monitoring for sustainable and efficient urban centers." MARQUEE offers comprehensive, turnkey SMARTCELL deployments that extend cellular network coverage for mobile network operators with edge-cloud managed value-added services. The SMARTCELLTM provides the wireless carriers unprecedented flexibility blended with innovative, aesthetically pleasing, ergonomic solutions such as modularity, digital displays with contextual advertising, EV charging stations, kiosks and surveillance cameras enabling the deployment of Cellular MACRO, MINI-MACRO, and MOBILE EDGE sites enhanced with Smart City and IoT Solutions into America’s main streets. MARQUEE has contractual agreements with AT&T and Verizon for deployment of SMARTCELL in urban centers. The SMARTCELLTM platform offers more capacity and coverage as compared with Small Cell poles because of the large space availability inside the platform, which among others makes deployment of advanced antennas for massive MIMO with a large number of antenna elements for beamforming in urban centers more practical. “We are most excited to be partnering with MARQUEE Wireless in its implementation of a cybersecure hyperconverged MEC platform with Edge AI for Smart Cities with a highly innovative usage-based business model for datafication-to-monetization of contextual edge data collected through MARQUEE’s SMARTCELLs,” stated Allen Salmasi, co-founder and CEO of Veea. “The notion of a cellular network extended with Edge AI-driven applications is truly revolutionary as it ultimately can allow the cellular industry to capitalize on a range of Smart City edge-managed applications including a wide range of subscription-based Wi-Fi and IoT services with cybersecurity and very low latency.” Veea’s full-stack MEC middleware enables DePIN architecture, supporting Web3 protocols with Veea’s vTBATM-based cybersecure peer-to-peer networking, blockchain technology, and decentralized data storage, together with applications that benefit from federated learning for inferencing and training of mobile-edge “Contextual AI” models together with network slicing over 5G networks. Honeywell Tridium’s Niagara Building Management System (BMS), providing for a SaaS offering of energy monitoring and management with process automation, is an example of such an edge-managed application running on VeeaHub products with Edge AI, which enables data collection, real-time monitoring, and advanced analytics to provide insights into energy usage patterns, enabling informed decision-making and targeted interventions for renewable energy solutions, energy storage systems, smart lighting, smart grids, energy-efficient buildings, EV chargers, and others. Smart cities, served by cellular networks and the combined capabilities of Veea Edge Platform and SMARTCELL, can leverage automation and advanced energy management systems to optimize energy usage, minimize its carbon footprint, and ultimately strive towards a Net Zero emissions goal, by utilizing data-driven insights to control and regulate energy consumption across different urban sectors such as public infrastructure, transportation, and commercial buildings. About Marquee Founded in 2018 and headquartered in Chicago, MARQUEE offers solutions for Cellular and Smart City deployments with available fully permitted locations with innovative, aesthetically pleasing, ergonomic platforms. The patented SMARTCELLTM platform features unprecedented availability of space in a very small footprint to deploy LTE/5G MACRO/mini-MACRO sites into a single modular structure. Presently MARQUEE has under management over 26,000 locations in the US. The Company partners with public entities, private businesses, big box stores, fast food restaurants, Malls, Gas Stations, MDUs, cities and municipalities among others. MARQUEE obtains permits, construct utilities and custom configures the SMARTCELLTM as requested by the Cellular Carrier. For more information, visit marqueewireless.com and follow us on LinkedIn. About Veea Veea ® makes living and working at the edge simpler and more secure. Veea has unified multi-tenant computing, multiaccess multiprotocol communications, edge storage and cybersecurity solutions through fully integrated cloud- and edge-managed products. Veea’s pioneering Multiaccess Edge Computing (MEC) product, developed from the ground up in several compact form factors, brings together the functionality typically provided for through any combination of servers, Network Attached Storage (NAS) devices, routers, firewalls, Wi-Fi Access Points (APs), IoT gateways, 4G or 5G wireless access, and Cloud Computing (CC) by means of multiple hardware, software and systems integrated and maintained by IT/OT professionals. Veea Edge Platform offers application responsiveness, bolsters cybersecurity, data privacy and context awareness, and lowers data transport costs as well as total cost of ownership, while providing for easy installation, operations, monitoring and maintenance of edge networks. At the heart of VeeaHub products resides a Linux server with a full-stack virtualized software environment for cloud-native applications that run in Secured Docker TM containers, with a high degree of user data and application isolation, Software Defined Networking (SDN), Network Function Virtualization (NFV) and cybersecurity, delivering hyperconverged networking that extends 5G network slicing with cellular-like network-managed Wi-Fi and IoT devices over a connectivity and computing mesh network. The fully integrated turnkey solution offers end-to-end cloud management of devices, applications and services with Zero Trust Network Access (ZTNA) and, optionally, a highly simplified plug and play 5G-based Secure Access Service Edge (SASE) offering. Veea Developer Portal and development tools provide for rapid development of edge applications, optionally, with Edge AI. Veea was formed in 2014 and is headquartered in New York City with a rich history of major innovations in the development of advanced networking, wireless and computing technologies, along with over 103 granted and 33 pending patents in key aspects of hyperconverged edge computing technologies. For more information, visit veea.com and follow us on X and LinkedIn . View source version on businesswire.com : https://www.businesswire.com/news/home/20241125091566/en/ CONTACT: Media Contact: James Christopherson Sterling Communications for Veea Inc. veea@sterlingpr.com KEYWORD: ILLINOIS NEW YORK TEXAS NORTH AMERICA UNITED STATES MEXICO CANADA CENTRAL AMERICA INDUSTRY KEYWORD: 5G SECURITY IOT (INTERNET OF THINGS) BLOCKCHAIN STATE/LOCAL SOFTWARE URBAN PLANNING ARTIFICIAL INTELLIGENCE NETWORKS INTERNET DATA MANAGEMENT TECHNOLOGY MOBILE/WIRELESS CONSTRUCTION & PROPERTY PUBLIC POLICY/GOVERNMENT APPS/APPLICATIONS CARRIERS AND SERVICES WEB3 SOURCE: Veea Inc. Copyright Business Wire 2024. PUB: 11/25/2024 04:30 PM/DISC: 11/25/2024 04:31 PM http://www.businesswire.com/news/home/20241125091566/en
Furman vs. Seattle U Predictions & Picks: Spread, Total – November 26NEW YORK — Top-ranked chess player Magnus Carlsen is headed back to the World Blitz Championship on Monday after its governing body agreed to loosen a dress code that got him fined and denied a late-round game in another tournament for refusing to change out of jeans. Lamenting the contretemps, International Chess Federation President Arkady Dvorkovich said in a statement Sunday that he'd let World Blitz Championship tournament officials consider allowing “appropriate jeans” with a jacket, and other “elegant minor deviations” from the dress code. He said Carlsen's stand — which culminated in his quitting the tournament Friday — highlighted a need for more discussion “to ensure that our rules and their application reflect the evolving nature of chess as a global and accessible sport.” Carlsen, meanwhile, said in a video posted Sunday on social media that he would play — and wear jeans — in the World Blitz Championship when it begins Monday. “I think the situation was badly mishandled on their side,” the 34-year-old Norwegian grandmaster said. But he added that he loves playing blitz — a fast-paced form of chess — and wanted fans to be able to watch, and that he was encouraged by his discussions with the federation after Friday's showdown. “I think we sort of all want the same thing,” he suggested in the video on his Take Take Take chess app’s YouTube channel. “We want the players to be comfortable, sure, but also relatively presentable.” The events began when Carlsen wore jeans and a sportcoat Friday to the Rapid World Championship, which is separate from but held in conjunction with the blitz event. The chess federation said Friday that longstanding rules prohibit jeans at those tournaments, and players are lodged nearby to make sartorial switch-ups easy if needed. An official fined Carlsen $200 and asked him to change pants, but he refused and wasn't paired for a ninth-round game, the federation said at the time. The organization noted that another grandmaster, Ian Nepomniachtchi, was fined earlier in the day for wearing sports shoes, changed and continued to play. Carlsen has said that he offered to wear something else the next day, but officials were unyielding. He said “it became a bit of a matter of principle,” so he quit the rapid and blitz championships. In the video posted Sunday, he questioned whether he had indeed broken a rule and said changing clothes would have needlessly interrupted his concentration between games. He called the punishment “unbelievably harsh.” “Of course, I could have changed. Obviously, I didn’t want to,” he said, and “I stand by that.” This article was generated from an automated news agency feed without modifications to text.
BEIRUT — Israel's military launched airstrikes across Lebanon on Monday, unleashing explosions throughout the country and killing at least 31 while Israeli leaders appeared to be closing in on a negotiated ceasefire with the Hezbollah militant group. Israeli strikes hit commercial and residential buildings in Beirut as well as in the port city of Tyre. Military officials claimed they targeted areas known as Hezbollah strongholds. They issued evacuation orders for Beirut's southern suburbs, and strikes landed across the city, including meters from a Lebanese police base and the city's largest public park. The barrage came as officials indicated they were nearing agreement on a ceasefire, while Israeli Prime Minister Benjamin Netanyahu's Security Cabinet prepared to discuss an offer on the table. Bulldozers remove the rubble of a destroyed building Monday that was hit in an Israeli airstrike in Dahiyeh, in the southern suburb of Beirut, Lebanon. Foreign ministers from the world’s leading industrialized nations also expressed cautious optimism Monday about possible progress on a ceasefire. “Knock on wood,” Italian Foreign Minister Antonio Tajani said as he opened the Group of Seven meeting outside Rome. “We are perhaps close to a ceasefire in Lebanon," he said. "Let's hope it's true and that there's no backing down at the last-minute.” A ceasefire in Gaza and Lebanon was foremost on the agenda of the G7 meeting in Fiuggi, outside Rome, that gathered ministers from Canada, France, Germany, Italy, Japan, the United Kingdom and the United States, in the last G7 encounter of the Biden administration. For the first time, the G7 ministers were joined by their counterparts from Saudi Arabia, Egypt, Jordan, the United Arab Emirates and Qatar, as well as the Secretary General of the Arab League. Thick smoke, flames and debris erupt Monday from an Israeli airstrike that targeted a building in Tayouneh, Beirut, Lebanon. Meanwhile, massive explosions lit up Lebanon's skies with flashes of orange, sending towering plumes of smoke into the air as Israeli airstrikes pounded Beirut's southern suburbs Monday. The blasts damaged buildings and left shattered glass and debris scattered across nearby streets. Some of the strikes landed close to central Beirut and near Christian neighborhoods and other targets where Israel issued evacuation warnings, including in Tyre and Nabatiyeh province. Israeli airstrikes also hit the northeast Baalbek-Hermel region without warning. Lebanon's Health Ministry said Monday that 26 people were killed in southern Lebanon, four in the eastern Baalbek-Hermel province and one in Choueifat, a neighborhood in Beirut's southern suburbs that was not subjected to evacuation warnings on Monday. The deaths brought the total toll to 3,768 killed in Lebanon throughout 13 months of war between Israel and Hezbollah and nearly two months since Israel launched its ground invasion. Many of those killed since the start of the war between Israel and Hezbollah have been civilians, and health officials said some of the recovered bodies were so severely damaged that DNA testing would be required to confirm their identities. Israel claims to have killed more than 2,000 Hezbollah members. Lebanon's Health Ministry says the war has displaced 1.2 million people. Destroyed buildings stand Monday in the area of a village in southern Lebanon as seen from northern Israel. Israeli ground forces invaded southern Lebanon in early October, meeting heavy resistance in a narrow strip of land along the border. The military previously exchanged attacks across the border with Hezbollah, an Iran-backed militant group that began firing rockets into Israel the day after the war in Gaza began last year. Lebanese politicians have decried the ongoing airstrikes and said they are impeding ceasefire negotiations. The country's deputy parliament speaker accused Israel of ramping up its bombardment to pressure Lebanon to make concessions in indirect ceasefire negotiations with Hezbollah. Elias Bousaab, an ally of the militant group, said Monday that the pressure has increased because "we are close to the hour that is decisive regarding reaching a ceasefire." Israeli officials voiced similar optimism Monday about prospects for a ceasefire. Mike Herzog, the country's ambassador to Washington, earlier in the day told Israeli Army Radio that several points had yet to be finalized. Though any deal would require agreement from the government, Herzog said Israel and Hezbollah were "close to a deal." "It can happen within days," he said. Israeli officials have said the sides are close to an agreement that would include withdrawal of Israeli forces from southern Lebanon and a pullback of Hezbollah fighters from the Israeli border. But several sticking points remain. A member of the Israeli security forces inspects an impact site Sunday after a rocket fired from Lebanon hit an area in Rinatya, outskirts of Tel Aviv, Israel. After previous hopes for a ceasefire were dashed, U.S. officials cautioned that negotiations were not yet complete and noted that there could be last-minute hitches that either delay or destroy an agreement. "Nothing is done until everything is done," White House national security spokesman John Kirby said Monday. The proposal under discussion to end the fighting calls for an initial two-month ceasefire during which Israeli forces would withdraw from Lebanon and Hezbollah would end its armed presence along the southern border south of the Litani River. The withdrawals would be accompanied by an influx of thousands more Lebanese army troops, who have been largely sidelined in the war, to patrol the border area along with an existing U.N. peacekeeping force. Western diplomats and Israeli officials said Israel demands the right to strike in Lebanon if it believes Hezbollah is violating the terms. The Lebanese government says such an arrangement would authorize violations of the country's sovereignty. On paper, being more sustainable and eco-friendly while shopping sounds great—so why don't more people do it? There is growing consumer consciousness about the environmental impact of where people choose to shop and the sustainability of the products they buy. According to McKinsey, over 60% of individuals surveyed in 2020 said they would be willing to pay more for a product that is packaged in an eco-friendly way. Since 2019, products marketed as being environmentally sustainable have seen a 28% growth in revenue compared to 20% for products with no such marketing, a 2023 McKinsey and NielsenIQ report found. Much of this is thanks to the preferences and attitudes of Gen Z, who, on average, care more than their older counterparts about being informed shoppers. The younger generation also has more social justice and environmental awareness altogether. Shoppers are willing to spend around 9.7% more on a product they know is sourced or manufactured sustainably, with 46% saying they would do so explicitly because they want to reduce their environmental footprint, according to a 2024 PwC report. Sustainable practices consumers look for from companies include production methods, packaging, and water conservation. But despite the growing consciousness around being more environmentally responsible, consumer actions don't always align with their values. In psychology, this is defined as the "say-do gap": the phenomenon wherein people openly express concern and intention around an issue, but fail to take tangible action to make a change. According to the Harvard Business Review in 2019, most consumers (65%) say they want to buy from brands that promote sustainability, but only 1 in 4 follow through. So why don't people actually shop sustainably, despite how much they express a preference for eco-friendly products—and how can we close the gap? The RealReal examined reports from the Harvard Business Review and other sources to explore why some shoppers want to buy sustainably but struggle to follow through. This lack of action isn't due to a lack of caring—in many cases, it's hard to know how to be a sustainable consumer and other factors are often outside of shoppers' control. But the more people shop sustainably, the easier and more accessible that market will be for everyone—making it much easier for folks to buy aligned with their values. There are many obstacles preventing shoppers from upholding eco-friendly habits as much as they may want to—but not all of these barriers are necessarily real, or accurately understood. Shopping sustainably simply isn't convenient or accessible for many. Those who live in apartment buildings are 50% less likely to recycle , according to Ipsos. Reasons for this can vary from lack of space to buildings being excluded altogether because of recycling contamination issues. Many believe that sustainable products are too expensive or of a lower quality. The former is often true, which does create a hurdle for many: The manufacturing processes and materials for sustainable products are pricey. For instance, organic cotton requires an intensive production process free of certain chemicals or pesticides; by definition, true eco-friendly products can't be mass-produced, further upping their price tag. Using recycled materials for packaging, or obtaining an eco certification, can also be expensive. However, although the narrative of eco-friendly products being more expensive is true, there is often more of an effort to use better quality materials that last longer than their noneco-friendly counterparts. This could end up saving consumers money in the long run: By paying more upfront, they can get more wear out of sustainable fashion, for instance. There is also undeniable political rhetoric surrounding eco-friendly products—however, despite many Conservative politicians decrying sustainable products, members of all generations are increasingly choosing to prioritize shopping sustainably regardless of their political affiliation, according to research from NYU Stern Center for Sustainable Business . This finding shows a trend toward seeing sustainability as a nonpartisan subject everyone can benefit from, no matter where they lie on the political spectrum. Some might think eco-friendly clothing, in particular, is not fashion-forward; after all, many of the top clothing retailers in the world partake in fast fashion. However, brands are increasingly being recognized as 'cool' and 'trendy' for supporting environmentally ethical practices, particularly as younger generations prioritize sustainability, as noted before. Many increasingly popular online stores are taking advantage of this paradigm shift by offering secondhand shopping options that are not only fashionable, but also more affordable, like ThredUp or Poshmark. Additionally, many legacy large-name brands are hopping on the sustainability movement and are gaining appreciation from loyal customers. Amazon's Climate Pledge Friendly program partners with third-party certification bodies to make it easier for shoppers to identify eco-friendly products as they browse the website. H&M's newly launched H&M Rewear program debuts a resale platform that allows the resale of all clothing brands—not just their own. Similarly, Patagonia's Worn Wear program allows shoppers to trade in and buy used gear and clothing. The federal government is also working to close this gap. The Environmental Protection Agency's Safer Choice program is attempting to make sustainable shopping easier for consumers and companies alike. It includes a directory of certified products, a list of safer chemicals to look out for on labels, a "Safer Choice" label that products can earn to denote they are eco-friendly, and resources for manufacturers looking to adopt more sustainable practices. Most of all, though, the biggest way shoppers can shift toward sustainable shopping is through their behaviors and attitudes amongst their peers and communities. Studies show that humans largely care what others think of their actions; the more shoppers make environmentally conscious shopping the norm, the more others will follow suit. From an economic perspective, the more consumers shop eco-friendly, the more affordable and accessible these products will become, too: Sustainable products are currently more expensive because they are not in high demand. Once demand rises, production rates and prices can lower, making these products more accessible for all. Story editing by Carren Jao. Additional editing by Kelly Glass. Copy editing by Kristen Wegrzyn. This story originally appeared on The RealReal and was produced and distributed in partnership with Stacker Studio. Get local news delivered to your inbox!What a merger between Nissan and Honda means for the automakers and the industry
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