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Donald Trump’s choice of billionaire financier Stephen Feinberg as the No. 2 official at the Pentagon is part of a move by the president-elect to back up Pete Hegseth, his choice for defense secretary, with deputies focused on bringing in business experience and new technology. Feinberg is co-founder and majority owner of Cerberus Capital Management LP and has a net worth of about $7.7 billion, according to the Bloomberg Billionaires Index. The private equity firm has major investments in defense technology companies. If confirmed by the Senate, Feinberg would hold a job historically focused on hands-on management of the Pentagon and related concerns, such as industrial production. The role of deputies at the Pentagon has taken on outsized significance in the incoming administration. Trump’s pick of Hegseth to lead the complex bureaucracy, with its budget of more than $840 billion, has met with resistance, in part over his limited management experience. In addition, the former Fox News host, who served in the Army National Guard in Iraq and Afghanistan, has denied allegations of sexual misconduct, alcohol abuse and mismanagement of two veterans organizations he headed. His confirmation by the Senate remains uncertain. Hegseth’s public comments have focused on making good on Trump’s pledge to crack down on what he sees as “woke” initiatives at the Pentagon. In announcing his choice for deputy defense secretary on Sunday, Trump called Feinberg “an extremely successful businessman,” and also said that he will nominate: “Especially with Feinberg’s appointment, it signals a more business-oriented approach” to managing the Defense Department, said Clementine Starling-Daniels, director of the Atlantic Council’s Forward Defense program. “There are some real benefits to taking a different approach there,” she said, but there are also risks in backing new, smaller-scale projects to the detriment of “large complex programs” like Lockheed Martin Corp.’s F-35 fighter plane. Some of Cerberus’s portfolio companies have invested in hypersonic missile technology with both civilian and military applications. In addition, one of its companies, Tier 1 Group, provided paramilitary training to Saudis who later participated in the 2018 killing of Washington Post journalist Jamal Khashoggi, the New York Times reported in 2021. Starling-Daniels also cited the limited experience of Trump’s top choices with the Pentagon’s complex bureaucracy. “If you don’t balance a secretary of defense with a deputy secretary of defense who really is attuned to how the department functions, I’m concerned that no matter what the policy priorities are, they will be really hard to enact,” she said. Colby, who would be the Pentagon’s policy chief, served as deputy assistant secretary of defense early in Trump’s first term. He has championed Trump’s vision to end the US role as “global policeman” and backed calls for allies to boost defense spending so the US can focus on the strategic threat from China — a theme he hit in his book, The Strategy of Denial, published in 2021. “A highly respected advocate for our America First foreign and defense policy, Bridge will work closely with my outstanding Secretary of Defense Nominee, Pete Hegseth, to restore our Military power, and achieve my policy of PEACE THROUGH STRENGTH,” Trump wrote on social media in announcing the picks, using Colby’s nickname. As acquisition chief, Duffey will be on the the front line of decisions on whether the Pentagon cuts back on traditional projects like the F-35 and turns instead to Silicon Valley for drones and AI. Billionaire Elon Musk, who’s become a top Trump adviser, has said “some idiots are still building manned fighter jets like the F-35” in an age of drones. Overseeing Pentagon spending in the Office of Management and Budget in Trump’s first term, Duffey instructed the Pentagon to hold back $250 million in military aid to Ukraine while Trump was pressuring Ukraine’s President Volodymyr Zelenskiy to investigate Joe Biden. Michael, who would be research and engineering chief, was ousted from Uber in 2017, amid turmoil over allegations of a toxic workplace culture. “Emil will ensure that our Military has the most technologically sophisticated weapons in the World, while saving A LOT of money for our Taxpayers,” Trump said in one of his posts. Trump also announced that Joe Kasper would serve as chief of staff for the defense secretary. Kasper was a former Pentagon official in Trump’s first term before he was appointed as a deputy assistant secretary at the Department of Homeland Security. This article was generated from an automated news agency feed without modifications to text.
Will Utah State or Boise State forfeit vs. San Jose State in the Mountain West semifinals?Honda and Nissan are officially pursuing a merger, a deal that will see the two automakers—along with Mitsubishi—combine to become the third-largest in the world. that the two Japanese automakers were exploring a merger, although no official word had been given. In a joint press release, Honda and Nissan executives said the merger would help the two companies further a carbon-neutral and zero-traffic-fatality society. Nissan Motor Co., Ltd. (“Nissan”) and Honda Motor Co., Ltd. (“Honda”) have signed a memorandum of understanding (MOU) to start discussions and considerations toward a business integration between the two companies through the establishment of a joint holding company. To further accelerate their efforts toward achieving a carbon-neutral society and a zero-traffic-fatality society, Nissan and Honda signed an MOU on March 15 regarding a strategic partnership for the era of vehicle intelligence and electrification. Since then, the two companies have held discussions aimed at collaboration in various fields. The two companies plan to integrate their management teams, as well as their automotive tech to become a “leading global mobility company.” If the business integration can be realized, both companies can aim to integrate their respective management resources such as knowledge, human resources, and technologies; create deeper synergies; enhance the ability to respond to market changes; and expect to improve mid- to long-term corporate value. Additionally, Nissan and Honda can aim to further contribute to the development of Japan’s industrial base as a “leading global mobility company” by integrating Nissan and Honda’s four-wheel-vehicle and Honda’s motorcycle and power products businesses, enabling the brands of both companies to become more attractive and to deliver more attractive and innovative products and services to customers worldwide. “Today marks a pivotal moment as we begin discussions on business integration that has the potential to shape our future,” , Nissan CEO. “If realized, I believe that by uniting the strengths of both companies, we can deliver unparalleled value to customers worldwide who appreciate our respective brands. Together, we can create a unique way for them to enjoy cars that neither company could achieve alone.” “Creation of new mobility value by bringing together the resources including knowledge, talents, and technologies that Honda and Nissan have been developing over the long years is essential to overcome challenging environmental shifts that the auto industry is facing. Honda and Nissan are two companies with distinctive strengths,” added Toshihiro Mibe, Honda Director and Representative Executive Officer. “We are still at the stage of starting our review, and we have not decided on a business integration yet, but in order to find a direction for the possibility of business integration by the end of January 2025, we strive to be the one and only leading company that creates new mobility value through chemical reaction that can only be driven through synthesis of the two teams.” The Mitsubishi Question Nissan is currently the largest shareholder in Mitsubishi, with a controlling stake of 34%. Although neither company has specifically addressed Mitsubishi, the automaker’s status is a major question in the merger scenario. If Mitsubishi is included in the terms of the merger, it will help make the combined company the number three automaker in the world, a status that would help it improved its ability to compete at scale. The companies acknowledged the importance of the scale a merger would bring: We will continue to monitor the story as it develops.
TRUMP GOLF: THE GAME ANNOUNCES EXCLUSIVE PRESALE FOR MOBILE GAME LAUNCH, WHERE PLAYERS EXPERIENCE THE AWARD-WINNING TRUMP GOLF PORTFOLIO THROUGH THEIR MOBILE DEVICES
Icy conditions weathered Thanksgiving travelers and Mizzou Tiger fans as the first snowfall of the year landed in Columbia on Saturday. Roughly 3.2 inches of snow fell in Columbia from roughly 8 a.m. to 6 p.m. Saturday, according to the National Weather Service . A 17-person crew was on call from the Columbia Public Works Department during the snowfall to address the buildup, John Ogan, a spokesperson for the Public Works Department, said in an email to the Missourian. Crews continued cleanup through the weekend. The Missouri State Highway Patrol reported 362 crashes and four fatalities across the state between 6 p.m. Wednesday and 11:59 p.m. Sunday. One fatal crash occurred in the westbound lane of Interstate 70 in Columbia on Saturday morning, according to the Highway Patrol, which temporarily blocked both westbound lanes. In addition, the driver in a crash on northbound U.S. 63 in Boone County on Saturday suffered serious injuries and died of her injuries Sunday, according to a GoFundMe . The GoFundMe identified the driver as Cally Coatney, an 18-year-old from Jefferson City. The campaign was created to address Coatney's medical and funeral expenses and had raised more than $16,000 as of Monday night. Ogan said that as of Monday, all roads were in passable condition. Ogan also said that increased traffic from the Mizzou football game likely contributed to road congestion in Columbia on Saturday, and noted that the Public Works Department encouraged attendees to use the free Go COMO shuttles to reach the stadium. The weather conditions over the weekend met the city’s expectations, Ogan said. “We don’t control Mother Nature, but what we do control is how we plan for it and how we respond to it with the personnel and resources available to address the situation by adopted policy,” Ogan said. Some Mizzou football fans took to social media to share their experience with the ice and snow at the stadium. Douglas Edgar commented under Mizzou Athletics’ Facebook post that he saw several people slip on the stairs during the Saturday game. Photos were posted by Edgar that showcased the stairs coated in ice and snow. Eric Maze, public relations manager at MU Health Care, wrote in an email that at least one patient was treated at University Hospital on Saturday night related to a weather-related fall at the football game.(Bloomberg) — Germany is headed for months of political deadlock as voters return to the ballot box for another federal election in February and with coalition negotiations potentially lasting several months after that. Lawmakers in Germany’s lower house on Monday backed a confidence motion pushed by Chancellor Olaf Scholz that will trigger a new election on Feb. 23, seven months ahead of schedule. Scholz lost his majority in parliament after his ruling coalition fell apart in November amid infighting. The political uncertainty comes at a delicate time for Europe’s largest economy, which has stagnated for years. In addition to long-festering competitive issues, Donald Trump’s return to the White House threatens to intensify pressure on Germany by raising questions over US support for Ukraine and imposing new tariffs that could hit the country’s exporters. “We need more growth and that’s only possible with more investments into our infrastructure,” Scholz said in the Bundestag on Monday. “This is the task of our generation now — future generations will measure us by this challenge.” Scholz’s Social Democrats, along with his former coalition partners the liberal Free Democrats and the Greens, have suffered in the polls. The conservative CDU/CSU alliance under Friedrich Merz leads with support at around 31%, the far-right Alternative for Germany — or AfD — is second with 19.8% and the SPD third at 17%, according to the latest Bloomberg polling average. The Greens are fourth with 11.2% and the BSW — a new far-left party founded in January — fifth at 7.5%. Lindner’s FDP remains in danger of missing the 5% threshold for getting into parliament with 4.9%. After the election, it will take weeks, if not months until a new coalition government will be formed. Although the CDU/CSU is leading in the polls, it’s far from winning an absolute majority and would need at least one, and potentially more, coalition partners. And the more parties that qualify for seats in parliament the more difficult the arithmetic to build an alliance. The leading candidates have already started to position themselves as best placed to solve the many economic, social and security problems they say confront the country. Merz and the leader of the CDU’s Bavarian sister party CSU, Markus Soeder, will present their parties’ common campaign platform on Tuesday. It proposes an immediate halt on the admission of illegal migrants, income tax cuts, continued support for Ukraine, and a commitment to the constitutional debt brake. In many cases, though, the program doesn’t say how these proposals will be financed. Merz on Monday accused Scholz of “leaving the country in one of the biggest economic crises of the post-war period,” adding that “what lies ahead of us will be a tremendous effort.” The next chancellor will need to secure funds and public support for massive investments needed to upgrade crumbling infrastructure, shore up defense capabilities and shift to a more technologically advanced and climate-friendly economy. Alongside reviving growth, government borrowing as well as irregular migration will be key election topics. The German economy is set to shrink for a second straight year due to dwindling foreign demand and the jump in energy prices that followed Russia’s invasion of Ukraine. There are also new headwinds from possible US trade levies and political uncertainty before snap elections. “No industry sector is really optimistic about 2025 — the new federal government has a lot of work to do,” said Klaus Wohlrabe from Ifo Institut, one of Germany’s most renowned economic research institutes. About a third of companies in Germany expect their economic situation to worsen next year, according to its latest survey. Some 56% of surveyed companies anticipate their situation to remain unchanged, and just 13% expect business development to pick up next year. “Companies currently see no signs of an economic upturn. Given that the economy was already doing poorly in 2024, these figures are worrying,” Wohlrabe said. What Bloomberg Economics Says... “Germany’s problems won’t go away on their own. Retooling the economy for the future, improving productivity and tackling the causes of high energy costs urgently need the next government’s attention.” —Martin Ademmer and Jamie Rush. Click here for the full GERMANY INSIGHT In the Bundestag, a majority of 394 lawmakers backed Monday’s no-confidence measure. Scholz can now ask President Frank-Walter Steinmeier to dissolve the parliament and formally set the election date. The fellow Social Democrat has indicated that he’ll go along with Scholz’s timetable. So far there have only been two cases in which German chancellors have used this parliamentary instrument with the aim of losing a confidence vote in order to bring about new elections: Former CDU Chancellor Helmut Kohl did it in 1982 and his SPD successor Gerhard Schroeder in 2005. Kohl won, while Schroeder lost. Robert Habeck, the current economy minister and vice chancellor and the lead candidate for the Greens, warned that domestic political crises were distracting countries from seeing the bigger picture. “While we in Central Europe are largely preoccupied with ourselves, the world is not standing still,” Habeck said. “And it is not a good state of affairs.”BIG 12 THIS WEEK
President-elect Donald Trump has promised to bring down prices on groceries, rent and other basic necessities of life. U.S. presidents don’t typically have direct control over how much any of those things cost, but their policies can have an effect. In Trump’s case, the proposals that economists think could have significant influence are tariffs, or taxes on imports. On Monday, Trump threatened to impose new tariffs on Mexico, Canada and China — the United States’ three biggest trading partners — as soon as he takes office, on Jan. 20. The Republican said the new rate for goods from Canada and Mexico would be 25% as a pressure campaign to curb the illegal drug trade and immigration. Trump proposed an additional 10% on China after previously pledging a 60% tariff on products from there. He has also proposed anywhere from 10 to 20% tariffs on other imports. Trump says his plans would bring manufacturing jobs back to the U.S. But economic experts say Trump’s proposals will hurt American families’ wallets with more expensive cars, appliances and technology. Wayne Winegarden, senior fellow in economics at the right-leaning Pacific Research Institute, said additional tariffs will raise the price of not only foreign goods, but those produced domestically as well. “We import steel that goes into production of cars, so cars will be more expensive,” Winegarden said. “You may see prices going up.” Winegarden said he sees the tariffs as a broad-based consumption tax that will be bad for the economy. “How bad just depends on how high the rates are and there will be secondary effects in terms of how other countries respond as well,” he said. “Even if they don’t respond — I think that’s important for people to know, even if nobody raises their tariff in response to us — we’re still making U.S. families worse off.” Under a scenario with a broad 10% tariff and a 60% China tariff, the effect on households, even if there is no tariff retaliation, would be an additional $2,421 per household in 2023 dollars according to the Budget Lab at Yale University, a nonpartisan research center. The economy was a major concern for many voters in the presidential election, although inflation has generally slowed from a peak of 9.1% in June 2022. In October, 62% of registered voters said the economy is in poor condition. Economists say, though, it’s unlikely that prices will broadly come down to where they were during Trump’s first term. If prices came down that much, it would likely be the result of a weak economy. Lauren Saidel-Baker, an economist at ITR economics, a nonpartisan economic research and consulting firm based in New Hampshire, said her forecast is that inflation will continue to slow through the end of the year and will pick back up early next year. Saidel-Baker said she had this expectation before considering Trump policies because the money supply is increasing, leading to a faster pace of transactions. But tariffs are one of her main concerns about how Trump’s policies will affect inflation next year. She said goods inflation is under control at the moment while the services sector is harder hit by inflation as the result of a tighter labor market. Under the Trump administration, goods inflation could start picking up again. “Tariffs could cause goods to catch back up. But we have long-term demographic problems that are going to keep the labor market tight. I don’t see service inflation getting materially better, especially if we do things like these mass deportations that’s going to cut from the working-age population,” Saidel-Baker said. During his first term, Trump imposed tariffs on imports of steel and aluminum, solar panels and washing machines, to name a few. Several countries responded with retaliatory tariffs, including China. Although Trump’s tariffs boosted jobs in the steel and washing machine industries, the effect was a fall in the long run GDP by 0.2% and a loss in employment of 142,000 full-time jobs, the Tax Foundation, a tax policy think tank, estimated . “We already have evidence of what his tariffs are going to do from his first term. And those aren’t positive. It did not achieve what he says they’re going to achieve,” Winegarden said. Marshal Cohen, chief industry analyst at the NPD Group, a market research company, said a lot of companies have already moved their production away from China as a result of Trump’s first term tariffs. Steve Madden CEO Edward Rosenfeld explained in an earnings call that the company is implementing a plan to reduce its reliance on China, where more than 70% of its imports are from. Cohen said that despite this shift, certain goods could be more affected by tariffs, such as technology, cars, appliances, and the toy business that are based in or have many ties to China. Companies such as Columbia Sportswear, AutoZone, Stanley Black & Decker have said that they will raise prices in anticipation of tariffs. “If we get tariffs, we will pass those tariff costs back to the consumer,” Philip Daniele, CEO of AutoZone, said in an earnings call. Isabella Weber, associate professor of economics at the University of Massachusetts Amherst, who recently co-authored a paper on companies’ pricing strategies, said how much companies are comfortable raising prices depends on how much sales fall. “We have seen that companies were willing to increase prices even when it came at reductions in the volume sold. So, demand falling is not necessarily a reason for companies to not raise prices,” she said. “However, there comes a point of course at which further price increases no longer improve the bottom line if sales fall too much. In some segments, especially the ones where low-income households are important buyers like for example fast food, that point could have been reached.”
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AFC standouts meet when Herbert, Chargers host Jackson's Ravens on Monday nightTrending News Today Live Updates: In today's fast-paced world, staying informed about the latest developments is more important than ever. Trending News Today brings you the most current and impactful stories from across the globe, covering a wide range of topics including politics, technology, entertainment, sports, and social issues. Whether it's a significant political event, a groundbreaking technological innovation, or the latest in pop culture, we provide you with up-to-the-minute updates and in-depth analysis. Our goal is to ensure that you're always in the loop, aware of the trends that are shaping the world around us. Stay tuned for the latest news that matters. Trends News Today Live: Chicago Pizzeria delights dogs with walk-up 'Treat window' decorated for Christmas
COLORADO SPRINGS, Colo. (AP) — EJ Neal had 12 points in Sacramento State's 63-61 win against Air Force on Wednesday night. Neal had five rebounds for the Hornets (2-4). Julian Vaughns shot 5 for 8, including 2 for 4 from beyond the arc to add 12 points. Jacob Holt had 10 points and shot 3 of 5 from the field and 4 of 4 from the free-throw line. The Falcons (2-5) were led by Jeffrey Mills, who posted 19 points. Ethan Taylor added 11 points, eight rebounds, five assists and two steals for Air Force. Vaughns scored eight points in the first half and Sacramento State went into halftime trailing 33-22. Sacramento State used a 12-0 second-half run to take the lead at 34-33. Lachlan Brewer scored 10 second-half points. The Associated Press created this story using technology provided by Data Skrive and data from Sportradar .
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