December 2024 - Dual Cow

The Federal Reserve plans to cut rates despite persistent inflation and a strong economy

Dec

The Federal Reserve plans to cut rates despite persistent inflation and a strong economy

Federal Reserve Chair Jerome Powell and the Federal Open Market Committee (FOMC) will announce their latest monetary policy decision on Wednesday, and market participants are preparing for a surprising move. Despite inflation remaining above the Fed's 2% target, robust economic growth of around 3% and a strong labor market, the central bank is expected to lower its benchmark interest rate by 25 points basis, bringing the target range to 4.25%-4.5. %. This potential cut comes as a surprise to many, as conventional wisdom would suggest that the Fed might maintain or even raise rates under such economic conditions. Futures market…

A US court upholds the law requiring ByteDance to sell TikTok or risk being banned

Dec

By Jean Thompson

Science and Technology

A US court upholds the law requiring ByteDance to sell TikTok or risk being banned

A US federal court has upheld legislation requiring Chinese tech giant ByteDance to relinquish ownership of the popular social media platform TikTok in the US by early next year or face a nationwide ban. The ruling marks a significant victory for the Justice Department and TikTok critics, who have long expressed concern about the app's ties to China. However, the decision constitutes a major setback for ByteDance as it now faces the possibility of losing access to the app's 170 million US users. The ruling raises the likelihood of an unprecedented ban on a social networking app widely used in…

US new vehicle sales expected to hit highest levels since 2019 due to falling prices and rising inventories

Dec

By Jean Thompson

Investments and Business

US new vehicle sales expected to hit highest levels since 2019 due to falling prices and rising inventories

The U.S. auto market is poised for its strongest performance in years, with new vehicle sales expected to rise to levels not seen since 2019. Industry analysts expect a recovery in 2025, driven by improved affordability, lower interest rates and a gradual normalization of the vehicle market. stocks after years of supply chain disruptions and inflated prices. Cox Automotive expects new light-duty vehicle sales to reach 16.3 million units in 2025, slightly ahead of forecasts from S&P Global Mobility and Edmunds, which call for sales of about 16.2 million. These estimates represent a modest increase from this year's expected range…

Nissan and Honda are reportedly considering merging for a competitive advantage in the global auto market

Dec

By Jean Thompson

Science and Technology

Nissan and Honda are reportedly considering merging for a competitive advantage in the global auto market

Japanese automakers Nissan Motor and Honda Motor are reportedly in discussions regarding a potential merger The Nikkei newspaper. The move, which could reshape the global automotive landscape, aims to improve their ability to compete in an industry that is rapidly shifting towards electric vehicles, autonomous technology and intensifying competition from Chinese automakers and Tesla . The report suggests that the two companies are considering operating under a holding company, with plans to formalize their intentions through a memorandum of understanding in the near future. Additionally, the potential merger could bring Mitsubishi Motors, in which Nissan holds a 24% stake, under…

Apple accused of monitoring employees and limiting discussions about pay and conditions

Dec

By Jean Thompson

Investments and Business

Apple accused of monitoring employees and limiting discussions about pay and conditions

Apple is accused of illegally surveilling the personal devices and iCloud accounts of its employees, particularly when they discuss pay and workplace conditions. A new complaint, filed by Domingo Amar Bhakta in a California state court, accuses the tech giant of requiring employees to install software on personal devices used for work. This software supposedly grants Apple access to sensitive personal data, including emails, photo archives, health information, and even data from “smart home” devices. Bhakta, who works in Apple's digital advertising division and has been with the company since 2020, claims that Apple has strict privacy policies that prevent…

The US Supreme Court will hear arguments over the federal law that threatens a TikTok ban

Dec

By Jean Thompson

Science and Technology

The US Supreme Court will hear arguments over the federal law that threatens a TikTok ban

The US Supreme Court has announced that it will hear arguments on January 10, 2025 on the constitutionality of a federal law that could ban TikTok in the US unless its Chinese parent company, ByteDance, sells the platform. The case raises significant questions about free speech and national security, with implications for TikTok's 170 million U.S. users and its content creators. The law, passed in April with bipartisan support and signed by President Joe Biden, set a Jan. 19 deadline for ByteDance to divest TikTok or face a nationwide ban. TikTok has argued that the law violates the First Amendment…