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Month: November 2024

Trump fills out his economic team with two veterans of his first administration

Trump fills out his economic team with two veterans of his first administration

By FATIMA HUSSEIN and JOSH BOAK

WEST PALM BEACH, Fla. (AP) — President-elect Donald Trump is turning to two officials with experience navigating not only Washington but the key issues of income taxes and tariffs as he fills out his economic team.

Trump on Tuesday announced he has chosen international trade attorney Jamieson Greer to be his U.S. trade representative and Kevin Hassett as director of the White House National Economic Council.

While Trump has in several cases nominated outsiders to key posts, these picks reflect a recognition that his reputation will likely hinge on restoring the public’s confidence in the economy.

The president-elect also announced a number of other key personnel choices, including Vince Haley, who led Trump’s speechwriting department in his first term, as director of the Domestic Policy Council.

Trump said in a statement that Greer was instrumental in his first term in imposing tariffs on China and others and replacing the trade agreement with Canada and Mexico, “therefore making it much better for American Workers.” read more

Hyundai recalling over 226,000 cars and SUVs to fix rearview cameras that can fail

Hyundai recalling over 226,000 cars and SUVs to fix rearview cameras that can fail

DETROIT (AP) — Hyundai is recalling more than 226,000 SUVs and small cars in the U.S. because the rearview camera image may not show up on the screens.

The recall covers certain Santa Fe and Elantra vehicles from the 2021 and 2022 model years.

Hyundai says in documents posted Wednesday by U.S. safety regulators that solder joints on a printed circuit board can develop cracks that can worsen over time and cause the cameras to fail. That can reduce visibility and increase the risk of injury to pedestrians.

Dealers will replace the cameras at no cost to owners, who will be notified by letters starting Jan. 19.

CEO of Merlin, operator of Legoland and Orlando Eye, leaving at end of 2024

CEO of Merlin, operator of Legoland and Orlando Eye, leaving at end of 2024

Scott O’Neil, CEO of Merlin Entertainments Group, is stepping down at the end of the year, the company confirmed Wednesday.

Merlin, based in England, operates several Central Florida attractions including the Orlando Eye, Madame Tussauds and Sea Life Aquarium Orlando on International Drive as well as Legoland Florida and Peppa Pig theme parks in Winter Haven.

O’Neil joined Merlin in November 2022, replacing longtime CEO Nick Varney. O’Neil previously was CEO of Harris Blitzer Sports & Entertainment, which works with NBA and NHL teams.

Multiple news outlets, including the New York Times, report that O’Neil has been in talks to become the CEO of Saudi-financed LIV Golf, a position currently held by Greg Norman.

“It has been an honor to lead Merlin Entertainments as it lays the foundations for its next phase of growth,” O’Neil said in a news release Wednesday.

Madame Tussauds Orlando installs Messi figure

Upcoming Merlin projects include a Sea Life aquarium attraction in Winter Haven, a Peppa Pig Theme Park near Dallas and Legoland Shanghai, the first Lego-based park in China. The company recently announced an immersive project with the maker of the Minecraft video game. read more

US consumer price increases accelerated last month with inflation pressures resilient

US consumer price increases accelerated last month with inflation pressures resilient

By CHRISTOPHER RUGABER, AP Economics Writer

WASHINGTON (AP) — Consumer price increases accelerated last month, the latest sign that inflation’s steady decline over the past two years has stalled in recent months.

According to the Federal Reserve’s preferred inflation gauge, consumer prices rose 2.3% in October from a year earlier, the Commerce Department said Wednesday. That is up from just 2.1% in September, though it is still only modestly above the Fed’s 2% target.

Yet excluding the volatile food and energy categories, so-called “core” prices also picked up, climbing 2.8% last month from a year earlier, up from 2.7% in September, according to Commerce’s personal consumption expenditures price index. Economists closely watch core prices because they typically provide a better read on where inflation is headed.

Inflation has fallen sharply since it peaked at 7% in mid-2022, according to the Fed’s preferred measure. Yet yearly core inflation has fluctuated between 2.6% and 2.8% since February. Price increases have remained elevated in services, including apartment rents, restaurant meals, and car and home insurance. read more