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Automakers carry on with EV transition plans despite Trump’s threat to kill tax credits
Since 2021, the auto industry has spent at least $160 billion on planning, designing and building EVs. If President-elect Donald Trump makes good on his threat to kill federal tax credits for electric vehicle purchases, it’s likely that fewer buyers will choose EVs.
Published: 2024-11-26 20:30:00
When does Spotify Wrapped 2024 come out? Here’s what we know and how you’ll be able to see your most streamed songs
Music streamers are eagerly awaiting the release of Spotify’s annual year-in-review feature. If history is any guide, it could drop at any time now. As we head toward the end of the year (yes, I know, it’s not even Thanksgiving yet), one thing on the minds of many music lovers right now is Spotify Wrapped, the audio streaming service’s annual recap of the music they listened to in 2024.
Published: 2024-11-26 19:06:00
How Trump’s tariff plans could rattle currency markets
The dollar is already surging to two-year highs against currencies of America’s main trading rivals, offsetting the very competitiveness Trump’s tariff plans aim to protect. It may just be the turn of currency markets to play “bad cop” to the incoming U.S. administration’s proposed tariff hikes—sideswiping its trade threats by catapulting the dollar higher.
Published: 2024-11-26 18:45:00
Starbucks and other retailers hit with ongoing ransomware attack on software provider
Blue Yonder, which provides supply-chain software to many large retailers, was hit with a ransomware attack ahead of Thanksgiving. Major supply-chain software provider Blue Yonder is working to restore its systems after a ransomware attack hit the Panasonic-owned firm last week. Blue Yonder, which counts Starbucks, major U.K. grocers, and other large retailers among its customers, said it wasn’t sure when it could restore services.
Published: 2024-11-26 18:15:00
Housing market shift: Where home prices are actually falling
Some regional housing markets in Texas, Florida, and Louisiana, are experiencing mild home price corrections. Want more housing market stories from Lance Lambert’s ResiClub in your inbox? Subscribe to the ResiClub newsletter.
Published: 2024-11-26 17:30:00
Rivian secures $6.6 billion loan from the Biden administration to build a paused Georgia EV factory
The loan to Rivian could rescue one of Georgia Gov. Brian Kemp’s signature economic development projects even as Biden leaves office. President Joe Biden’s administration announced Tuesday that the U.S. Department of Energy will make a $6.6 billion loan to Rivian Automotive to build a factory in Georgia that had stalled as the startup electric vehicle maker struggled to become profitable.
Published: 2024-11-26 17:00:00
‘We are not satisfied’: Kohl’s stock tumbles amid slumping sales and gloomy forecast for 2024
The department store chain said its outlook for the full year is not great. To top it off, the company is losing its CEO. In the days before Thanksgiving, retail investors want reasons to be hopeful—after all, we’re about to enter the busiest shopping period of the year.
Published: 2024-11-26 16:27:00
End of an era: the last tenant that gave this NYC ‘hood its name is moving out
John Jobbagy and other butchers will vacate a building in the Meatpacking District slated for redevelopment. When John Jobbagy’s grandfather immigrated from Budapest in 1900, he joined a throng of European butchers chopping up and shipping off meat in a loud, smelly corner of Manhattan that New Yorkers called the Meatpacking District.Today only a handful of meatpackers remain, and they’re preparing to say goodbye to a very different neighborhood, known more for its high-end boutiques and expensive restaurants than the industry that gave it its name.Jobbagy and the other tenants in the district’s last meat market have accepted a deal from the city to move out so the building can be redeveloped, the culmination of a decades-long transformation.“The neighborhood I grew up in is just all memories,” said Jobbagy, 68. “It’s been gone for over 20 years.”In its heyday, it was a gritty hub of over 200 slaughterhouses and packing plants at the intersection of shipping and train lines, where meat and poultry were unloaded, cut, and moved quickly to markets. Now the docks are recreation areas and an abandoned freight line is the High Line park. The Whitney Museum of American Art moved from Madison Avenue next to Jobbagy’s meat company in 2015.Some of the new retailers maintain reminders of the neighborhood’s meatpacking past. At the exposed brick entrance to an outlet of fashion brand Rag & Bone, which sells $300 leather belts, is a carefully restored sign from a previous occupant, “Dave’s Quality Veal,” in red and white hand-painted lettering.Another sign for a wholesale meat supplier appears on a long building awning outside Samsung’s U.S. flagship phone store.But the neighborhood no longer sounds, smells, or feels like the place where Jobbagy began working for his father in the late 1960s. He worked through high school and college summers before going into business for himself.Back then, meatpackers kept bottles of whiskey in their lockers to stay warm inside the refrigerated plants. Outside, “it reeked,” he said, especially on hot days near the poultry houses where chicken juices spilled into the streets.People only visited the neighborhood if they had business, usually transacting in handshake deals, he said.Slowly but surely, meatpacking plants began closing or moving out of Manhattan as advances in refrigeration and packaging enabled the meat industry to consolidate around packing plants in the Midwest, many of which can butcher and package more than 5,000 steers in a day and ship directly to supermarkets.Starting in the 1970s, a new nightlife scene emerged as bars and nightclubs moved in, many catering to the LGBTQ+ community. Sex clubs and slaughterhouses coexisted. And as the decades wore on, the drag queens and club kids began giving way to fashion designers and restaurateurs.By 2000, Sex and The City character Samantha had left her Upper East Side apartment for a new home in the Meatpacking District. By the show’s final 2003 season, she was outraged to see a Pottery Barn slated to open near a local leather bar.Another turning point came with the 2009 opening of the High Line, on a defunct rail track originally built in the 1930s. The popular greenway is now flanked by hotels, galleries, and luxury apartment buildings.Jobbagy said his father died five years before the opening and would be baffled at what it looks like now.“If I told him that the elevated railroad was going to be turned into a public park, he never would have believed it,” he said.But the area has changed constantly, noted Andrew Berman, executive director of local architectural preservation group Village Preservation.“It wasn’t always a meatpacking district. It was a sort of wholesale produce district before that, and it was a shipping district before that,” Berman said. In the early 1800s, Fort Gansevoort stood there. “So it’s had many lives and it’s going to continue to have new lives.”Though an exact eviction date for the last meat market has not been set, some of the other companies will relocate elsewhere.Not Jobbagy, who has held on by supplying high-end restaurants and the few retail stores that still want fresh hanging meat. He’ll retire, along with his brother and his employees, most of them Latino immigrants who trained with him and saved up to buy second homes in Honduras, Mexico, or the Dominican Republic. Some want to move to other industries, in other states.He expects to be the last meatpacker standing when the cleaver finally falls on Gansevoort Market.“I’ll be here when this building closes, when everybody, you know, moves on to something else,” Jobbagy said. “And I’m glad I was part of it and I didn’t leave before.”
Published: 2024-11-26 16:18:29
Traveling for Thanksgiving? Here’s your survival guide to record-breaking crowds
The good news is there are new systems in place to compensate travelers when things go wrong. If you thought last year’s holiday travel was insane, well, buckle your seatbelt.
Published: 2024-11-26 15:40:02
Disney agrees to pay $43 million to settle gender discrimination lawsuit
Thousands of current and former female employees joined the class action lawsuit. Walt Disney has agreed to pay $43.3 million to settle a lawsuit alleging that its female employees in California earned $150 million less than their male counterparts over an eight-year period, the plaintiffs’ lawyers said in a statement on Monday.
Published: 2024-11-26 14:59:56
Teslas, Hondas, and VWs may get price hikes if Trump’s tariffs extend to Mexico
Trump’s promised tariffs could impact companies that manufacture in Mexico. President-elect Donald Trump on Monday pledged tariffs on the United States’s three largest trading partners—Canada, Mexico, and China—detailing how he will implement campaign promises that could trigger trade wars.
Published: 2024-11-26 14:13:41
Egg prices stay high as holiday baking season approaches its peak
Egg Board CEO Emily Metz says the industry sees its highest demand in November and December. Egg prices are rising once more as a lingering outbreak of bird flu coincides with the high demand of the holiday baking season.But prices are still far from the recent peak they reached almost two years ago. And the American Egg Board, a trade group, says egg shortages at grocery stores have been isolated and temporary so far.“Those are being rapidly corrected, sometimes within a day,” said Emily Metz, the Egg Board’s president and chief executive officer.The average price for a dozen eggs in U.S. cities was $3.37 in October, according to the Bureau of Labor Statistics. That was down slightly from September, and down significantly from January 2023, when the average price soared to $4.82. But it was up 63% from October 2023, when a dozen eggs cost an average of $2.07.Metz said the egg industry sees its highest demand in November and December.“You can’t have your holiday baking, your pumpkin pie, your stuffing, without eggs,” she said.Avian influenza is the main reason for the higher prices. The current bird flu outbreak that began in February 2022 has led to the slaughter of more than 111 million birds, mostly egg-laying chickens. Anytime the virus is found, every bird on a farm is killed to limit the spread of the disease.More than six million birds have been slaughtered just this month because of bird flu. They were a relatively small part of the total U.S. egg-laying flock of 377 million chickens. Still, the flock is down about 3% over the past year, contributing to a 4% drop in egg production, according to the U.S. Department of Agriculture.The latest wave of bird flu is scrambling supplies of cage-free eggs because California has been among the hardest hit states. California, Nevada, Washington, and Oregon all require eggs sold in their states to be cage-free.“We’re having to move eggs from other areas of the country that are producing cage-free to cover that low supply in those states, because those states only allow for cage-free eggs to be sold,” Metz said.Cage-free requirements are set to go into effect in Arizona, Colorado, and Michigan next year and in Rhode Island and Utah in 2030.Demand for such specialty eggs may also be contributing to avian flu, which is spread through the droppings of wild birds as they migrate past farms. Allowing chickens to roam more freely puts them at greater risk, said Chad Hart, a professor and agricultural economist at Iowa State University.“It’s really hard to control that interaction between domesticated birds and wild birds,” Hart said. “Some of those vectors have been opened up because we’re asking the egg industry to produce in ways that we didn’t ask them to before.”Metz said climate change and extreme weather are also blowing some wild birds off course.“We have birds that have been displaced by hurricanes, by wildfires, and those birds are now circulating in areas that they otherwise might not circulate or at times of the year that they otherwise may not be circulating,” she said. “And those are all new variables that our farmers are having to deal with.”Hart said the egg industry is trying to rebuild the flock, but that also can limit supplies, since farmers have to hold back some eggs to hatch into new chickens.Still, there is some good news on U.S. poultry farms. The price of chicken feed — which represents 70% of a farmer’s costs — has fallen significantly after doubling between 2020 and 2022, Hart said.
Published: 2024-11-26 13:20:07
This TikTok user says a popular YouTube music channel is in fact AI
The rise of generative AI music tools has indeed led to the emergence of tutorials on YouTube. Are you really a student if you’ve not done a late night study session soundtracked to an unending lo-fi beats playlist on YouTube?
Published: 2024-11-26 13:00:00
Thanksgiving travel 2024: These are the best and worst times to be on the road this week
According to AAA, a record 80 million people are expected to travel for the Thanksgiving holiday. Data from INRIX can help you avoid the heaviest traffic. The 2024 Thanksgiving travel period is here. Many Americans who are celebrating the holiday this week are expected to kick off their journeys today.
Published: 2024-11-26 12:51:00
Walmart kills DEI policies impacting 1.6 million U.S. workers
The company is the latest, and biggest, to cave to pressure from conservative activists. Walmart, the world’s largest retailer, is rolling back its diversity, equity, and inclusion policies, joining a growing list of major corporations that have done the same after coming under attack by conservative activists.The changes, confirmed by Walmart on Monday, are sweeping and include everything from not renewing a five-year commitment for an equity racial center set up in 2020 after the police killing of George Floyd, to pulling out of a prominent gay rights index. And when it comes to race or gender, Walmart won’t be giving priority treatment to suppliers.Walmart’s moves underscore the increasing pressure faced by corporate America as it continues to navigate the fallout from the U.S. Supreme Court’s ruling in June 2023 ending affirmative action in college admissions. Emboldened by that decision, conservative groups have filed lawsuits making similar arguments about corporations, targeting workplace initiatives such as diversity programs and hiring practices that prioritize historically marginalized groups.Separately, conservative political commentator and activist Robby Starbuck has been going after corporate DEI policies, calling out individual companies on the social media platform X. Several of those companies have subsequently announced that they are pulling back their initiatives, including Ford, Harley-Davidson, Lowe’s, and Tractor Supply.But Walmart, which employs 1.6 million workers in the U.S., is the largest one to do so.“This is the biggest win yet for our movement to end wokeness in corporate America,” Starbuck wrote on X, adding that he had been in conversation with Walmart.Walmart confirmed to the Associated Press that it will better monitor its third-party marketplace items to make sure they don’t feature sexual and transgender products aimed at minors. That would include chest binders intended for youth who are going through a gender change, the company said.The Bentonville, Arkansas-based retailer will also be reviewing grants to Pride events to make sure it is not financially supporting sexualized content that may be unsuitable for kids. For example, the company wants to makes sure a family pavilion is not next to a drag show at a Pride event, the company said.Additionally, Walmart will no longer consider race and gender as a litmus test to improve diversity when it offers supplier contracts. The company said it didn’t have quotas and will not do so going forward. It won’t be gathering demographic data when determining financing eligibility for those grants.Walmart also said it wouldn’t renew a racial equity center that was established through a five-year, $100 million philanthropic commitment from the company with a mandate to, according to its website, “address the root causes of gaps in outcomes experienced by Black and African American people in education, health, finance and criminal justice systems.”And it would stop participating in the Human Rights Campaign’s annual benchmark index that measures workplace inclusion for LGBTQ+ employees.“We’ve been on a journey and know we aren’t perfect, but every decision comes from a place of wanting to foster a sense of belonging, to open doors to opportunities for all our associates, customers and suppliers and to be a Walmart for everyone,” the company said in a statement.The changes come soon after an election win by former President Donald Trump, who has criticized DEI initiatives and surrounded himself with conservatives who hold similar views, including his former adviser Stephen Miller, who leads a group called America First Legal that has challenged corporate DEI policies. Trump named Miller to be the deputy chief of policy in his new administration.A Walmart spokesperson said some of its policy changes have been in progress for a while. For example, it has been moving away from using the word DEI in job titles and communications and started to use the word “belonging.” It also started making changes to its supplier program in the aftermath of the Supreme Court affirmative action ruling.Some have been urging companies to stick with their DEI policies. Last month, a group of Democrats in Congress appealed to the leaders of the Fortune 1000, saying that DEI efforts give everyone a fair chance at achieving the American dream.
Published: 2024-11-26 12:46:11
A crisis within a crisis: Insurance rates skyrocket for child care centers
Rising insurance premiums, reduced coverage and dropped policies plague child care centers across the country. Early this year, a child care program in southern Maine was dinged for three minor issues during a routine inspection: A refrigerator at the school where the nonprofit operates was a couple of degrees too high. An employee’s paperwork was kept at the wrong location. A first aid kit was missing a pair of tweezers.
Published: 2024-11-26 12:30:00
These 24 chef-approved kitchen gifts will improve the life of any home cook or baker
Whether the person you’re shopping for is a pro pasta maker or an amateur bread baker, these gifts can help sharpen their skills and improve their space. For its annual gift guide, Fast Company asked business leaders who know the home—and some of our staff members—for space-specific recommendations.
Published: 2024-11-26 12:00:00
This free time-zone conversion tool blows other clock apps out of the water
This minimal, frills-free website will make your life instantly easier. You’d think by this point in our lives, we’d have the whole time-zone-conversion thing figured out. It isn’t all that complicated, right?!And yet—well, trying to keep such calculations straight often feels like performing advanced algebra. I’ve lost count of the number of times I’ve tried to convert something from my own local time into another time and ended up screwing it up somehow (and I’m only moderately pea-brained, thankyouverymuch).
Published: 2024-11-26 11:00:00
In rural North Carolina, dozens of water systems were knocked out by Hurricane Helene. Recovery could take years
The flooding that devastated western North Carolina knocked out water systems, and some small towns still don’t have water. The most exciting part of the day at Spruce Pine Montessori School is when the truck arrives to empty the porta-johns. At that point in the afternoon, the kids abandon their toy dinosaurs and monkey bars, throw up their hands, and yell in excitement as they run to watch the truck do its work. It’s lucky that they find something to be so joyful about, Principal Jennifer Rambo said on a recent sunny afternoon, because things have been a mess for the past seven weeks.
Published: 2024-11-26 11:00:00
That emotional new Volvo commercial isn’t ‘pro-family.’ It’s just advertising
Brands have always tapped into the emotional currents of raising a family. And Volvo’s new ad is no different. A young woman approaches her distracted partner. He asks her if something’s wrong. She hesitates. Then reveals the positive pregnancy test. They quietly embrace, incredibly happy at the news.
Published: 2024-11-26 11:00:00
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