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By JOSH FUNK, AP Transportation Writer

OMAHA, Neb. (AP) — Shareholders of Union Pacific and Norfolk Southern backed the railroads’ proposed $85 billion merger to create the nation’s first coast-to-coast rail network.

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Roughly 99% of both railroads’ shareholders voted to support the largest rail merger in history Friday, but the U.S. Surface Transportation Board must still approve it before the deal can be completed.

Union Pacific CEO Jim Vena said, “Our shareholders see the value and understand this merger will unlock new opportunities to enhance service, growth and innovation.” read more

By KEN SWEET

NEW YORK (AP) — Imagine if your bank could move money for you with only the slightest of digital nods for your approval. Or that could tell you that you’re overspending but more importantly know how to address that overspending and put you on better financial footing.

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That’s what you’ll get with Moneybot, a new financial services chatbot shown off this week by Cash App that will be slowly introduced into its banking app this winter. Unlike existing bank chatbots, which can handle routine tasks like changing an address, Moneybot can take advanced actions for a customer like creating a savings plan, buying or selling stock, or even evaluating a customer’s spending habits. read more

By Prashant Gopal, Bloomberg News

With the average mortgage rate near 6%, U.S. homebuyers are looking at the most affordable monthly payments in a year. But San Antonio real estate agent Tavyn Weyman knows how to get them lower — much lower.

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The trick is simple: buy new.

In markets across the U.S., homebuilders sitting on unsold inventory are subsidizing mortgage rates so heavily they sometimes match the record lows last seen during the Covid-19 pandemic. That’s in addition to perks like free appliances, finished basements and zero closing costs.

Weyman said a large private builder just gave one client a 3.49% fixed rate on a $414,000 home on the west side of town. The sales agent even bumped up Weyman’s commission to cover the cost of breaking the buyer’s lease and threw in another $2,000 to make the first month effectively free. read more

By Robert Burnson, Bloomberg News

Google was accused in a lawsuit of using its Gemini AI assistant to unlawfully track the private communications of users of its Gmail, instant messaging and videoconference programs.

In the past, users of Gmail, Chat and Meet were given the option to turn on Google’s artificial intelligence program. But in October, the Alphabet Inc. unit “secretly” turned on Gemini for all those applications, enabling it to collect private data “without the users’ knowledge or consent,” according to the complaint filed late Tuesday in federal court in San Jose, California.

While the company allows users to turn off Gemini, they need to dig into Google’s privacy settings to deactivate the AI tool, according to the proposed class-action suit. Unless they take that step, Google uses Gemini to “access and exploit the entire recorded history of its users’ private communications, including literally every email and attachment sent and received in their Gmail accounts,” according to the complaint. read more

By ALEX VEIGA, Associated Press

Americans will be allowed to contribute more of their money to 401(k) and similar retirement saving plans next year.

The IRS said Thursday the maximum contribution that an individual can make in 2026 to a 401(k), 403(b) and most 457 plans will be $24,500. That’s up from $23,500 this year.

People aged 50 and over, who have the option to make additional “catch-up” contributions to 401(k) and similar plans, will be able to contribute up to $8,000 next year, up from $7,500 this year. That’s means a 401(k) saver who is 50 or older will be able to contribute a maximum of $32,500 to their retirement plan annually, starting in 2026.

Workers between the ages of 60 and 63 will be allowed catch-up retirement plan contributions of up to $11,250 annually, unchanged from this year.

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Homebuilders bet on 1% mortgage rates to wake up US buyers

Google accused in suit of using Gemini AI tool to snoop on users read more