Trump proposal would weaken vehicle mileage rules that limit air pollution
WASHINGTON (AP) — President Donald Trump has announced a proposal to weaken vehicle mileage rules for the auto industry. If the plan announced Wednesday is finalized next year, it would ease pressure on automakers to control pollution from gasoline-powered cars and trucks. The proposal would significantly reduce fuel economy requirements through the 2031 model year. Those requirements set rules on how far new vehicles need to travel on a gallon of gasoline. It's the Trump administration's latest move to reverse Biden-era policies that encouraged cleaner-running cars and trucks, including electric vehicles. Environmentalists said the rule change would increase pollution and raise prices for consumers by allowing less fuel-efficient cars.
Bessent says Federal Reserve Board could 'veto' future regional presidents
WASHINGTON (AP) — Treasury Secretary Scott Bessent said Wednesday he would push a new requirement that the Federal Reserve’s regional bank presidents live in their districts for at least three years before taking office, a move that could give the White House more power over the independent agency. Bessent has stepped up his criticism of the Fed’s 12 regional bank presidents in recent weeks after several of them made clear in a series of speeches that they opposed cutting the Fed’s key rate at its next meeting in December.
Americans gave $4B on GivingTuesday 2025 as donations and volunteering gain big over last year
Americans gave $4 billion to nonprofits on GivingTuesday in 2025, an increase from the $3.6 billion they gave in 2024. That's according to estimates from the nonprofit GivingTuesday. More people also volunteered their time on the Tuesday after Thanksgiving this year. GivingTuesday started in 2012 as a hashtag and has since become an independent nonprofit. Woodrow Rosenbaum is the organization's chief data officer. He says the number of people giving and the overall donation amount may have increased this year as people seek a sense of belonging and connection. They do not include gifts from corporations or foundations in their total.
Salesforce CEO vies to overcome investors' AI skepticism while touting company's quarterly numbers
SAN FRANCISCO (AP) — After riding the artificial intelligence craze to new heights, business software maker Salesforce has been pummeled by a wave of investor skepticism that’s intensified the pressure on its persuasive CEO Marc Benioff to reverse the tide. Benioff got a chance to try to change the AI narrative late Wednesday with the release of his company’s latest quarterly results. The key numbers covering the August-October eclipsed the analyst projections that help steer the stock market, providing Benioff with some material to support his contention that Salesforce’s big bets on AI will yield a jackpot. Salesforce's shares gained nearly 3% after the results came out, but it's unclear if that momentum will continue Thursday.
The EU lays out a plan to fund Ukraine using frozen Russian assets but Belgium says it's too risky
BRUSSELS (AP) — The European Union has unveiled a plan to use frozen Russian assets to support Ukraine over the next two years. The EU aims to cover two-thirds of Ukraine's financial and military requirements, providing 90 billion euros. However, Belgium has rejected the reparation loan plan, citing financial and legal risks. Most of the frozen assets are held in Belgium, with concerns about potential retaliation from Russia. Belgian Foreign Minister Maxime Prévot urged the EU to borrow money on international markets instead. The plan has sparked debate among EU leaders, with some countries offering financial guarantees to address concerns.
Longest US government shutdown cost Delta Air Lines $200 million
Delta Air Lines estimates that it lost $200 million due to the longest government shutdown on record. CEO Ed Bastian says refunds increased and bookings slowed during the 43-day shutdown, leading to a loss of about 25 cents per share. The shutdown began Oct. 1 and caused long delays and historic flight cancellations at major airports. The FAA issued an emergency order requiring airlines to cancel up to 6% of domestic flights as more air traffic controllers called out of work, citing stress and the need to take on side jobs. Bastian says he's optimistic about strong bookings through the end of the year.
How to find Spotify Wrapped, YouTube Recap and more as 2025 comes to a close
NEW YORK (AP) — The end of 2025 is near. And the season of unwrapping our online lives — or at least a glimpse of what they looked like over the past year — is well underway. Spotify Wrapped, YouTube Recap and Duolingo's “Year in Review” are among the growing list of music streamers, social media sites and a host of other apps have already started delivering their annual recaps into customers’ inboxes. That gives users a peak at anything from the top songs they had on repeat and the videos they streamed the most, to online language-learning or everyday tips they turned to the internet for in 2025. Most can be found in the platform's apps.
Asian shares are mixed after Wall Street pulls near its all-time high
MANILA, Philippines (AP) — Asian shares are mixed after U.S. stocks rose to near their records, with benchmarks in Japan and Hong Kong among the gainers. U.S. futures and oil prices edged higher. On Wednesday, the S&P 500 gained 0.3% and pulled within 0.6% of its all-time high set in late October. The Dow Jones Industrial Average climbed 0.9% and the Nasdaq composite added 0.2%. Stocks got help from easing Treasury yields in the bond market following some mixed reports on the U.S. economy. One suggested hiring was much weaker in November than economists expected, while a second said growth for U.S. services businesses was better than expected. They kept alive hopes that the Federal Reserve will cut interest rates next week.
Wall Street pulls near its all-time high
NEW YORK (AP) — U.S. stocks rose near their record levels. The S&P 500 gained 0.3% Wednesday and pulled within 0.6% of its all-time high set in late October. The Dow Jones Industrial Average climbed 408 points, and the Nasdaq composite added 0.2%. Stocks got help from easing Treasury yields in the bond market following some mixed reports on the U.S. economy. One suggested hiring was much weaker in November than economists expected, while a second said growth for U.S. services businesses was better than expected. They kept alive hopes that the Federal Reserve will cut interest rates next week. Bitcoin rose back above $93,000.
Nvidia CEO Jensen Huang visits Republicans as debate over intensifying AI race rages
WASHINGTON (AP) — Nvidia CEO Jensen Huang is making the rounds in Washington. Huang met with separately President Donald Trump and Senate Republicans on Wednesday to talk about the future of artificial intelligence amid ongoing efforts by top Silicon Valley executives to secure favorable terms for their industry. Huang warns that any restrictions on AI will halt its advancement. That's despite mounting concerns about AI’s potential pitfalls or how foreign rivals like China may use American hardware. The Trump administration in May reversed Biden-era restrictions that had prevented Nvidia and other chipmakers from exporting their chips to a wide range of countries.
