Core Points - Hyundai and Kia are overhauling security features in millions of vehicles due to a multistate settlement regarding the lack of industry-standard anti-theft technology [1][3] - The automakers will provide free ignition cylinder protectors, add engine immobilizers to future U.S. vehicles, and pay up to $9 million in restitution [2][12] - Nearly 4 million Hyundai and 3.1 million Kia vehicles in the U.S. are eligible for upgrades, with installation costs potentially exceeding $500 million [2][5] Security Features Overhaul - The settlement requires Hyundai and Kia to provide zinc-reinforced ignition cylinder protectors to current eligible owners [2] - Engine immobilizers, which prevent vehicles from starting without a smart key, will be added to all future U.S. models [2][5] - In 2015, only 26% of U.S. Kia and Hyundai vehicles had immobilizers, compared to 96% for other manufacturers, contributing to a rise in auto thefts [5] Impact of Theft - The absence of immobilizers allowed thieves to easily start vehicles without keys, leading to a significant increase in auto thefts [5][6] - The rise in thefts has resulted in many stolen vehicles being used in crimes and traffic collisions [6] Settlement Details - The multistate settlement involved over 30 states, led by Connecticut, Minnesota, and New Hampshire, with several other states as co-leads [12] - Eligible consumers will receive notices starting in early 2026 and have until March 2027 to install the ignition cylinder protector at a dealership [9]

The exchange-traded fund industry is having a record year with assets already hitting over $1 trillion+ and active managers are driving a big part of that growth.  "Third-quarter activity confirmed what we’ve seen building over the past several years: Active ETFs continue to drive innovation and flows," wrote Dan Aronson, Managing Director, ETF Client Product Specialist Group, in Janus Henderson’s ‘ETF Pulse’ through the 3Q.Active managers can be part of the decision-making in which stocks to include using ...

Billionaire investor Ray Dalio threw his support behind President Donald Trump's plan to create investment accounts for children across the country on Wednesday. Dalio announced a donation of roughly $75 million aimed at contributing $250 to investment accounts for 300,000 children in Connecticut. Trump has called on wealthy Americans to contribute to similar funds across the country."By providing children with savings accounts that compound over time we are providing them with early insights into financial ...

Warner Bros. Discovery, Inc.'s board of directors urged shareholders to reject Paramount Skydance’s hostile takeover bid for the company, arguing that it poses "significant" risks and costs.  The media behemoth said Wednesday that members of its board determined that the tender offer from Paramount Skydance was "not in the best interests" of the company or its shareholders, and that they continue to "unanimously" recommend the Netflix merger.Warner Bros. Discovery agreed to sell its film and television stud ...

Core Insights - The skilled trades workforce in the U.S. is rapidly declining, posing a significant challenge to the country's infrastructure and economy [1][7] - General Motors (GM) has invested over $242 million in its skilled trades apprenticeship program over the past five years to address this shortage [2][4] Investment in Workforce Development - GM's apprenticeship program combines classroom instruction with approximately 7,920 hours of hands-on training, focusing on various skilled trades [3][5] - The program aims to train the next generation of skilled trade professionals, with 600 apprentices graduating annually [4] Skills Shortage and Labor Market Dynamics - A report from Georgetown University indicates a projected retirement of 18.4 million experienced workers with postsecondary education from 2024 to 2032, outpacing the 13.8 million younger workers entering the labor market [9] - The manufacturing skills gap could result in 2.1 million unfilled jobs by 2030, potentially costing the economy $1 trillion [10][12] Community Engagement and Education - GM is actively engaging younger generations by introducing them to career paths in automotive manufacturing through community outreach and school visits [13][14] - The company also supports current employees' skill enhancement through its Technical Learning University, training about 2,500 employees annually [16][17] Technological Upskilling - GM's Technical Learning University allows employees to practice new technologies in a safe environment, ensuring they can adapt to advancements and improve vehicle quality and efficiency [18]

Core Insights - PayPal has submitted regulatory applications to establish PayPal Bank, aimed at providing lending solutions and interest-bearing savings accounts for small businesses [1][2] - The bank's establishment is intended to enhance PayPal's efficiency in supporting small business growth and economic opportunities in the U.S. [5] - Since 2013, PayPal has facilitated over $30 billion in loans and working capital to more than 420,000 business accounts globally [8] Regulatory Framework - Industrial banks, like PayPal Bank, are regulated by states and the FDIC, allowing non-financial companies to own and operate them [9][11] - These banks can offer various consumer and commercial loans and accept federally insured deposits, similar to traditional banks [11] Leadership and Strategy - Mara McNeill has been appointed as the president of PayPal Bank, bringing over 25 years of experience in banking and commercial lending [5] - The establishment of PayPal Bank aligns with the current deregulatory environment encouraged by the Trump administration, which aims to spur growth in financial institutions [11][12]

A lot of numbers came out today, as the government gears up after the shutdown. One of the biggest themes in the jobs report for October and November was the continued restructuring of the economy, where Joe Biden’s big government socialism is coming to an end. And President Trump’s re-privatization continues ahead. So far this year, federal jobs have fallen by roughly 270,000, while private jobs have increased nearly 700,000. Also related to Trump policies, native-born jobs are up some 2.7 million. While f ...

While Christmas is nearly a week away, there is still time to get packages shipped to arrive on time before the holiday. However, those shipping deadlines are rapidly approaching.  Each year, the major package delivery carriers post the deadlines that a package or mail needs to be shipped out to arrive by Christmas Eve. The deadlines vary depending on the specific shipping method.   With the deluge of packages expected during the holidays, UPS tried to encourage shoppers in September to shop and ship packag ...

iRobot, the maker of the Roomba vacuum cleaner, filed for bankruptcy protection on Sunday and is pursuing a buyout from its primary manufacturer in China after the company's acquisition by Amazon was blocked over a year ago on antitrust grounds. iRobot first raised concerns about its ability to remain in business in March and filed for Chapter 11 bankruptcy protection in a Delaware bankruptcy court on Sunday as it faces competition from lower-priced rivals and new U.S. tariffs. It now plans to go private af ...

Ford CEO Jim Farley announced the company is cutting production of the electric F-150 Lightning and refocusing its investment on hybrid vehicles and affordable EVs. The Detroit automaker announced the move on Monday and explained it will take a $19.5 billion charge on its EV assets and product roadmap. The change will bring about roughly $5.5 billion in cash effects with the majority paid in 2026 and the remainder in 2027.Farley appeared on FOX Business Network's "Kudlow" and said the move will allow Ford t ...