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WEEKLY NEWSLETTER

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What you’ll read?

• Biden Blocks $15B U.S. Steel Takeover by Nippon Steel

• JetBlue Fined $2M for Unrealistic Flight Schedules

• Today in AI & Tech

• "Mufasa" Leads 2025 Box Office with Strong Competition

  and more…

BUSINESS

GM and Ford Achieve Best U.S. Sales Since 2019

General Motors and Ford reported their highest annual U.S. vehicle sales since 2019, with GM selling over 2.7 million vehicles (up 4.3%) and Ford reaching 2.08 million (up 4%). While both saw increased sales in electric and hybrid vehicles, traditional combustion engines still dominated their portfolios. Toyota, Honda, Hyundai, and Kia also posted single-digit sales growth for 2024.

Biden Blocks $15B U.S. Steel Takeover by Nippon Steel

President Joe Biden blocked Nippon Steel's $15 billion bid to acquire U.S. Steel, citing national security and the importance of a domestically owned steel industry. The decision sparked criticism from U.S. Steel and Nippon Steel, who argued it was politically driven, while steelworkers’ unions praised Biden's commitment to American jobs and industry stability.

JetBlue Fined $2M for Unrealistic Flight Schedules

JetBlue will pay a $2 million penalty for operating chronically delayed flights, marking the first U.S. Department of Transportation fine for unrealistic scheduling practices. Half the penalty will compensate affected passengers, as the department warns airlines to ensure reliable schedules and fair competition.

Swipe Fees Squeeze Small Businesses Amid Rising Credit Card Usage

Small businesses face mounting costs as credit card transactions grow, with swipe fees consuming up to 3% of annual sales. The $172 billion in fees in 2023 set a record, prompting calls for transparency and competition, while businesses pass on costs to consumers or encourage cash payments to stay afloat.ations, calling the report misleading and vowing to focus on its growth plans for 2025.

TECH

Today in AI & Tech

Microsoft to Invest $80 Billion in AI Data Centers by Fiscal 2025

Microsoft announced plans to spend $80 billion in fiscal 2025 on AI-focused data centers, with over half of the investment in the U.S. Vice Chair Brad Smith highlighted partnerships with OpenAI and others as driving AI advancements, emphasizing the need for the U.S. to maintain global AI leadership amid competition from China.

Meta Removes AI Instagram and Facebook Accounts Amid Controversy

Meta quietly introduced AI-driven Instagram and Facebook accounts in late 2023 but faced backlash after users criticized the accounts for lack of diverse representation and "creepy" behavior. The controversy, fueled by posts about AI character "Liv," led Meta to remove the accounts, citing a bug that hindered users from blocking them. Despite this, user-generated AI chatbots remain active on Meta’s platforms.

Other

Biden Awards Presidential Medal of Freedom to 19 Distinguished Figures

In a White House ceremony, President Joe Biden awarded the Presidential Medal of Freedom to 19 notable individuals from politics, sports, entertainment, civil rights, LGBTQ+ advocacy, and science. Honorees included Hillary Clinton, Denzel Washington, and posthumous recipients like Robert F. Kennedy and Fannie Lou Hamer. The medals recognize contributions to U.S. prosperity, values, and societal progress, with recipients spanning fields from conservation to social justice. This marks Biden’s final Medal of Freedom ceremony as president.

Syria's New Leadership Seeks Diplomatic and Economic Revival

Syria’s new foreign minister, Asaad al-Shibani, met Qatari leaders in Doha and plans visits to Jordan and the UAE to strengthen ties and support Syria’s recovery under Hayat Tahrir al-Sham (HTS) leadership. Following HTS’s December overthrow of Bashar Assad, Syria is pushing to reestablish diplomatic relations, lift sanctions, and revive its economy. Al-Shibani announced plans for a national dialogue to draft a new constitution and dissolve HTS during the transitional phase, though international skepticism remains.

Biden Signs Social Security Fairness Act to Aid Public Service Workers

President Joe Biden signed the Social Security Fairness Act, boosting benefits for nearly 3 million public service workers by repealing the Windfall Elimination Provision and Government Pension Offset. The law addresses decades-old benefit disparities but adds strain to the Social Security Trust Funds, projected to face insolvency by 2035. Beneficiaries will see back-dated increases starting January 2024, with average boosts ranging from $360 to $1,190 depending on eligibility. Labor leaders hailed the act as a historic victory for retirees in public service roles.

"Mufasa" Leads 2025 Box Office with Strong Competition

Disney’s Mufasa topped the North American box office in the first weekend of 2025, earning $23.8M in its third weekend. Sonic the Hedgehog 3 followed closely with $21.2M, pushing its domestic total to $187.5M and helping the franchise surpass $1B globally. Meanwhile, Nosferatu earned $13.2M in its second weekend, crossing its $50M production budget. Other holdovers, like Moana 2 and Wicked, continued to perform well, with Moana 2 nearing $1B globally. The year’s box office is off to a strong start, up 20% from 2024.

It's a Wrap!

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Warm regards,
Sarah