The numbers are in for Spotify Wrapped: After the streaming music app dropped its popular year-in-review recap for 2025, the company said it has already seen a huge increase in user engagement, hitting 200 million users just 24 hours after the recap’s release, a 19% increase year-over-year (YOY).
Compare that with last year, when it took 62 hours to hit that same number.
Why the uptick in user engagement?
One reason could be because the platform is growing. A look at the numbers shows Spotify’s monthly active users grew 11% YOY to 713 million in Q3 of 2025, according to the company’s third quarter earnings report.
Spotify Wrapped is for sharing
Sharing is caring, and this year’s Spotify Wrapped sharing features seem to be working.
According to the company, 500 million users shared their stories all over social media in the first 24 hours, an overall increase of 41% YOY from 2024 (I was, of course, one of them). Those shares included screenshots of different features, such as top songs (for me, it was “Promises, Promises”), top artist (“The Psychedelic Furs”), top albums (“The Life of a Showgirl”), top genres (“New Wave”), and listening minutes (“11,721”).
While the numbers increased across the board globally, India, Indonesia, Japan, Colombia, Thailand and the U.S. saw the most growth.
This year, we pushed to make Wrapped bigger, bolder, and rooted in human creativity and connection,” Marc Hazan, senior vice president of marketing and partnerships at Spotify said. “That spirit drove the record numbers were celebrating. Spotify is where people proudly express who they are through the music, podcasts and books they love most.”
Age is just a number
One complaint, albeit a funny one, is that Spotify Wrapped’s “listening age” feature, which predicts your age based on your listening data, is making people older than they are.
On Bluesky, people are posting screenshots of their Spotify “age,” which for some millennials and Gen Xers, is hitting upwards of 82. (At 61, it looks like I am in good company!)
U.S. applications for unemployment benefits fell to their lowest level in more than three years during Thanksgiving week, potentially complicating the Federal Reserves upcoming decision on interest rates.
The number of Americans applying for jobless benefits for the week ending Nov. 29 fell to 191,000 from the previous weeks 218,000, the Labor Department reported Thursday. Thats the lowest level since September 24, 2022, when claims came in at 189,000. Analysts surveyed by the data provider FactSet had forecast initial claims of 221,000.
Kathy Bostjancic, chief economist at Nationwide, said that unemployment benefit filings are often distorted by the Thanksgiving holiday, which can cause some people who may have lost jobs to delay filing claims.
Still, the low claims figure also suggests that overall layoffs remain muted, despite the high-profile announcements. Hiring is also sluggish, which makes finding a job for those out of work challenging.
The labor market is kind of frozen, Bostjancic said. Companies are in wait-and-see mode.
Applications for unemployment aid are viewed as a proxy for layoffs and are close to a real-time indicator of the health of the job market. The job cuts announced recently by large companies such as UPS, General Motors, Amazon, and Verizon typically take weeks or months to fully implement and may not be reflected in Thursdays data.
For now, the U.S. job market appears stuck in a low-hire, low-fire state that has kept the unemployment rate historically low.
On Wednesday, private payroll data firm ADP estimated U.S. job losses of 32,000 in November. The surprisingly weak report may be discouraging for people looking for jobs, but it bolstered expectations that the Fed will cut its main interest rate next week.
Its not clear how much weight this weeks layoff figures will carry with the Fed as the numbers can be volatile and prone to revisions.
Complicating the Feds upcoming decision is inflation, which remains above the central banks 2% target. The Feds preferred measure of inflation will be released in a government report on Friday and will also be factored into its rate call on Wednesday.
Two weeks ago, the government said that hiring picked up a bit in September, when employers added 119,000 new jobs. That mixed report, which also showed employers had shed jobs in August, was delayed due to the government shutdown. The unemployment rate ticked up to 4.4%, its highest level in four years.
Novembers comprehensive jobs data has been delayed for release until later this month, after the Feds meeting, also due to the government shutdown.
The government also recently reported that retail sales slowed in September after three months of healthy increases.
Consumer confidence has plunged to its second-lowest level in five years, while wholesale inflation eased a bit.
The data suggests that both the economy and inflation are slowing, which has boosted financial markets expectations that the Federal Reserve will reduce its key interest rate at its meeting next week. If the Fed does reduce its benchmark rate next week, it would be the third cut of the year as it attempts to support a job market that has been slowing for months.
Thursday’s report from Labor also showed that the four-week average of claims, which evens out some of the week-to-week volatility, fell by 9,500 to 214,750.
The total number of Americans filing for jobless benefits for the previous week ending Nov. 22 dipped by 4,000 to 1.94 million, the government said.
Matt Ott, AP business writer
AP Economics Writer Christopher Rugaber contributed to this report.
As the rest of the world speeds ahead toward an electrified future, the U.S. is doubling down on gas-powered cars.
President Trump announced a proposal this week to slash stricter fuel economy standards put in place during the Biden administration. By reversing the standards, the White House further aligns itself with the oil and gas industry, with some automakers happily going along for the ride.
“We’re officially terminating Joe Biden’s ridiculously burdensome, horrible actually, CAFE standards that impose expensive restrictions,” Trump said, referencing the Corporate Average Fuel Economy rules. “And all sorts of problems all sorts of problems for automakers.”
The president was joined by Ford CEO Jim Farley, Stellantis CEO Antonio Filosa and a representative from General Motors for the announcement, which took place at the White House on Wednesday. Today is a victory for common sense and affordability, Farley said at the event. We believe that people should be able to make a choice, as you said, Mr. President, and we will invest more in affordable vehicles.
Regulations put in place during the Biden administration would require new cars sold in the U.S. to average more than 50 miles per gallon by 2031. That rule, designed to push automakers to reorient their business around EVs, will drop to 34.5 miles per gallon under Trumps proposal. The president also reiterated his plans to end a set of EPA rules that limit tailpipe pollution, a change that the oil and gas industry pushed for.
Fuel rules tend to shift between presidential administrations, with Democrats pushing for environmentally-minded standards and Republicans stripping away regulations. The White House characterized the changes, designed to slow the U.S. shift toward electric vehicles, as a cost-saving measure for consumers.
The Biden standards would have compelled widespread shifts to EVs that American consumers did not ask for, accompanied by significant cost-of-living increases, the administration wrote in a fact sheet on the changes.
In 2025, high car prices are one part of a puzzle for Americans trying to make ends meet. High interest rates, persistent inflation and Trumps own tariffs on imported cars and car parts have created a perfect storm of unaffordability for car buyers.
The high cost of driving
Cars are really expensive right now. The average price for a new vehicle inched above $50,000 for the first time in September, according to a report from Kelley Blue Book. That average rose by almost $2,000 compared to 2024. The average price of EVs, which cost more up front and save drivers cash in the long run, was $8,000 higher during the same time frame.
The $20,000-vehicle is now mostly extinct, and many price-conscious buyers are sidelined or cruising in the used-vehicle market, Cox Automotive Executive Analyst Erin Keating said in the report, which also noted the impact of cost pressure from tariffs. Today’s auto market is being driven by wealthier households who have access to capital, good loan rates and are propping up the higher end of the market.
While auto makers secured some relief from the presidents flurry of tariffs, car makers didnt make it through the year unscathed. In a mid-year earnings call, Ford estimated its tariff costs to total up to $2 billion for the year.
The fuel economy changes are just the Trump administrations latest effort to unravel signature climate-friendly policies from the Biden years. Trumps Big Beautiful Bill, passed earlier this year, stripped away Biden era tax credits that lowered the price tag of eligible EVs by as much as $7,500. The death of those tax credits prompted a major short term boost in EV sales this summer, as buyers rushed to make their purchases in time to secure more affordable electric cars before the end of September.
President Donald Trump plans to travel to Pennsylvania on Tuesday to highlight his efforts to reduce inflation even as fears mount about a worsening job market and amid signs that Americans are still feeling squeezed by high prices.
A White House official said Trump would be making the trip to discuss ending the inflation crisis that he says was inherited from his predecessor, Joe Biden. The official spoke on condition of anonymity because the trip has not been formally announced. It was not immediately clear where in Pennsylvania Trump would be visiting.
Last month’s off-year elections showed a shift away from Republicans as public concerns about affordability persist. White House officials said afterward that Trump who has done relatively few events domestically would put a greater emphasis on talking directly to the public about his economic policies.
The president has said that any affordability worries are part of a Democratic hoax and that people simply need to hear his perspective to change their minds an approach also embraced by Biden, who in early 2024 went to the Pennsylvania borough of Emmaus to take credit for economic improvements after inflation spiked in 2022.
The trip hints at the dilemma faced by Trump. He wants to take credit for rewiring the U.S. economy with his large tariff hikes and extension of income tax cuts, but he also continues to blame Biden for the increase nationwide in inflation rates that occurred this year during his own presidency. Overall, inflation is tracking at 3% annually, up from 2.3% in April when Trump rolled out a sweeping set of import taxes.
We fixed inflation, and we fixed almost everything, Trump said at Tuesday’s Cabinet meeting. He called affordability a hoax that was started by the Democrats who caused the problem of pricing.
Trump won Pennsylvania narrowly last year with 50.4%, besting Democrat Kamala Harris by roughly 120,000 votes. The win was part of a broader sweep in battleground states that helped return him to the White House after his 2020 loss.
AP VoteCast, an extensive survey of voters in the 2024 election, found that 7 in 10 Pennsylvania voters were very concerned about the cost of food and groceries. Roughly half expressed the same degree of worry over health care costs and the price of gasoline.
While Trump can point to a decline in gasoline prices, hes now facing inflationary pressures on utilities and a massive increase in insurance premiums for people who get their health care through the Affordable Care Act.
Pennsylvanians who buy their own health insurance coverage are likely to see their costs increase on average by 21.5% because of the expiration of tax credits tied to the Affordable Care Act, the state said in October.
Pennsylvania has yet to see the boom that Trump promised would instantly happen with his return to the White House.
The state has largely preserved its Biden era job growth under Trump, but its unemployment rate has risen to 4% from 3.6% over the past 12 months, according to the Bureau of Labor Statistics. There has been an increase of roughly 24,000 people who say theyre unemployed.
Annual inflation in the Philadelphia area is 3.3%, roughly the same as last year.
The Philadelphia Federal Reserves Beige Book in November documented an economy in decline, saying that hiring has flattened, warehouse workers are getting fewer hours on the job, inflationary pressures are coming from tariffs and sales of existing homes are decreasing. Separately, the regional Fed branchs manufacturing survey last month showed that factory activity weakened.
The news outlet Axios first reported Trump’s plans to travel to Pennsylvania.
Josh Boak, Associated Press
Only about 10 percent of venture funds ever make it to a fourth vintage. Of those, just 5 to 10 percent are led by women. Im one of them.
When I started Female Founders Fund in 2014, I believed that solid returns and conviction would speak for themselves. Strong performance would unlock capital and the industry would reward the achievement, especially from those breaking new groundor so I thought. What Ive come to learn is that venture capital isnt a pure meritocracy. Its a network-driven ecosystem where who you know often matters just as much as what you build.
Cultural and political changes, and a tight market environment, are making it especially difficult for fund managers to maintain momentum. Now is the time for the industry to reflect on how to ensure that these funds, especially those led by diverse managers, can weather these forces and continue to support diverse founders with brilliant ideas.
Investing in women isn’t charity. By yielding powerful, durable returns, it has proven to be smart business. As risk tolerance declines, it could be tempting for institutions to retreat to the familiar. Instead, they should pay attention to the data.
A shorter runway for women
Over the years, a few lessons have become clear. They arent the ones you find in your LPA, but theyre the realities that quietly shape who gets funded, who gets backed again, and who quietly fades away.
Returns are just one part of the picture. While performance is important, other forcesinstitutional change, personal networks, and internal politicsoften drive how capital gets distributed. Once an institution commits to a fund, that relationship can extend across multiple vintages. The incentive to change managers is low.
Check writers want proximity to the next generation of Tier 1 talent striking out on their own. That bias works in favor of spinoutsformer Sequoia, a16z, or Benchmark investors taking the entrepreneurial leap. But for managers without that institutional pedigree, the path looks very different. And for women, who remain significantly underrepresented in those firms partnership ranks, the path is even narrower.Your first fund is often cobbled together from founders, friends, and family offices willing to take an early bet. By Fund II or III, however, the bar shifts. Institutions want scale, systems, and years of realized returns, all of which take time to build. For emerging managers, thats the hardest leap: breaking through a system designed to reward familiarity over conviction.
Venture is a relationship business. It prides itself on data and rigor, but in practice it runs on trust. The capital that fuels our industry still moves through networks built over decades. Who you know, how long youve known them, and what you have to offer, determines access.
This is why new or diverse fund managers often find it easier to raise their first fund on promise than their second on proof. Convincing someone to take the initial bet on someone new can be easier than asking them to break a pattern with subsequent fundsbecause the pattern is still overwhelmingly male.
We must also look at money. Wealth isnt optionalits the price of entry. For example, all new fund managers are expected to invest a GP commit, which equates to roughly 1 percent of their total fund size. On a $50 million fund, thats $500,000 in cash, upfront.
Imagine asking an entrepreneur to invest half a million dollars in their own Series B to show commitment. For many, especially women and first-time fund managers, that barrier is insurmountable without preexisting, generational, or spousal wealth. It is one of the quietest but most enduring structural filters in venture, and it uniquely disadvantages women, who, on average, hold less personal and intergenerational wealth.
Having a financial cushion is also vital to play the long game that venture requires. To stay in the business, particularly through downturns, you need a financial cushion. Big payouts dont happen often. Selling some of the investment early can help a little, but small fund managers cant always afford to take a lower price without making it harder to raise money later.
Its not just about resilience and grit; its about runway. And because women more frequently enter the industry later, without the safety nets that have historically supported male peers, their runway is often meaningfully shorter. Staying in the game long enough to see your conviction validated is, in itself, a form of privilege.
Another challenge that has played out over the years is that while several well-intentioned institutions and corporations have stepped in to support and capitalize diverse managers, the purpose behind many of these checks has been to provide start-up capital designed to help new funds get off the ground, with the expectation that larger institutional investors would take over from there.
That handoff, however, has proven difficult. Even as the tide has turned culturally and politically, theres a real opportunity to rethink how we sustain diverse managers beyond the first fund, widening the base of long-term support so they can weather market cycles and build lasting franchises. The current system still assumes women will somehow graduate into institutional support structures that were never designed with them in mind.
Shaping the next frontier
I started Female Founders Fund as an entrepreneur who spotted alpha in the marketa clear gap between the caliber of women building companies and the capital available to back them. Twelve years later, that thesis has proven right again and again.
At Female Founders Fund, weve seen it firsthand. Maven Clinic became the first unicorn in womens health, defining an entirely new category of care. Billie reimagined modern personal care before its acquisition by Edgewell. BentoBox transformed hospitality tech, leading to a successful exit. Tala, now valued at nearly $1 billion, continues to scale globally, expanding access to financial services in emerging markets. Wagmo created a new category of employee benefits around pet care, while Violette_FR built the first artist-led French beauty brand in decades.
These companies touch millions of end customers and have built products, tools, and services that have scaled across industries proving that female-led innovation drives real enterprise and consumer value. These founders are category creatorspairing big visions with world-class execution.
These outcomes arent outliers. Theyre evidence that backing female founders is a wise investment strategy that generates meaningful returns. We cannot let this moment in time with its tighter markets and shifting market and social priorities create negative momentum.
Women are now leading in industries once thought impossible to break into: Space DOTS, founded by a NASA-trained astronautical engineer; Beyond Aero, reimagining flight through hydrogen-electric propulsion; Amini AI, building Africas environmental data backbone; Waabi, redefining autonomous trucking; and Dacora, making history as the first female-founded automotive company.
From aerospace to AI, from climate to transportation, women are shaping the next frontier and the best is yet to come.
In order to keep seeing new role models of success especially for those living outside the traditional Silicon Valley ecosystem, we need to keep capital flowing. Thats how the next generation of women and underrepresented founders will see themselves in the leaders building toay.
In a moment when the world feels increasingly divided, doubling down on progress isnt just good businessits good stewardship. Because the hardest part isnt raising a fund, its building one that endures. And the longer I stay in this business, the clearer it becomes: investing in women isnt a risk, its a return.
Its a great week to have a disposable income and act like you know how to ski.
North Face x Skims today launches its second winter outerwear capsule, again channeling ski culture with a campaign shot on the powder-coated Chilean mountains. (Skis and airfare not included.)
The 2025 drop expands on its collection from last year with even more silhouettes, like the wrap puffer coat, and a thoughtfully cropped, hooded puffer jacket with drop shoulder that brings some fashion to the line, which is aesthetically more oriented toward sport. It also includes mens and kids styles for the first time (prices range from $55 to $800).
[Photo: The North Face]
Even considering the new styles, the overall brand ID will look very familiar to Skims fans, with creative direction thats nearly identical to last years North Face collaboration. It has a styling and color system approach thats similar to the recent Skims x Nike collab, with muted color tones such as bone, kyanite, gunmetal, phoenix, and onyx, this time inspired by winter color palette.
[Photo: The North Face]
The campaign creative direction again utilizes gradiated layouts and product imagery, featuring models in geometric groupings organized by garment colorway. (Laura Obermeyer and Jackie Nickerson shot this years campaign; the first iteration last year was 2 campaigns, one shot by Vanessa Beecroft and the other shot by Donna Trope.) Part of what makes the Skims marketing such a home run is how it plays with its brand for a distinct visual approach to each of its various campaigns for core product drops. It appears to be less flexible with collaborations.
[Photo: Nike]
A big week for ski fashion
But its not the first to drop a winter collection this week. Nike and Jacquemus expanded their long-running partnership into the winter season by earlier this week announcing their first ever ski collection (some styles are online now). The Nike x Jacquemus’ collab plays into cold weather glamour and offers shapes that are driven less by spandex body shaping and more by a classic, retro aprés style.
The style lines and pattern of the clothes create their own shape on the body, such as in the ful skirt featured on the first campaign image, or the hourglass shape emphasized by the bell sleeve and tailored waist of the ski jacket. Its Audrey Hepburn in Chalet with the functionality of Gore Tex. Prices range from $110 to $700 for whats currently available online, which is half of the total 18 expected styles to be released.
[Photo: Nike]
These drops are an entry point for fashion brands to get in on outerwear sales by tapping into the expertise of brands already in the space (North Face and NIke, respectively). They are also a way for winter sport amateurs to tap into ski styles, without having to spend big on a vacation or premium-level gear they dont really need. I live at sea level, and Id still buy that Nike x Jacquemus jacket, if it wasnt sold out. And though all the North Face x Skims styles have yet to be released, the comments section on the brand announcement posts is already piping.
[Photo: Nike]
This quick sequence of drops is another indication theres appeal in prestige signalling through pieces that have prppy, sophisticated, and stylistic design elements you might see walking around Kemo Sabe in Aspen or a premium St. Moritz chalet.
Its almost as if tennis core and gorpcore had a winter romance (does that give us chaletcore?). North Face x Skims and Jacquemus x Nike have distinct pespectives on this, but one thing is clear: this winter, skiing is a state of mind.
[Photo: The North Face]
Russian authorities said Thursday they have imposed restrictions on Apple’s video calling service FaceTime, the latest step in an effort to tighten control over the internet and communications online.
State internet regulator Roskomnadzor alleged in a statement that the service is being used to organize and conduct terrorist activities on the territory of the country, to recruit perpetrators (and) commit fraud and other crimes against our citizens. Apple did not respond to an emailed request for comment.
The Russian regulator also announced that it has blocked Snapchat, a messaging app for sharing photos, videos and text messages, citing the same grounds it gave for restricting FaceTime. It said that it took the action Oct. 10, even though it only reported the move on Thursday.
Under President Vladimir Putin, authorities have engaged in deliberate and multipronged efforts to rein in the internet. They have adopted restrictive laws and banned websites and platforms that don’t comply. Technology has also been perfected to monitor and manipulate online traffic.
After Russias full-scale invasion of Ukraine in 2022, the government blocked major social media like Twitter, Facebook, and Instagram.
Access to YouTube was disrupted last year in what experts called deliberate throttling of the widely popular site by the authorities. The Kremlin blamed YouTube owner Google for not properly maintaining its hardware in Russia.
While its still possible to circumvent some of the restrictions by using virtual private network services, those are routinely blocked, too.
Authorities further restricted internet access this summer with widespread shutdowns of cellphone internet connections. Officials have insisted the measure was needed to thwart Ukrainian drone attacks, but experts argued it was another step to tighten internet control. In dozens of regions, white lists of government-approved sites and services that are supposed to function despite a shutdown have been introduced.
The government has also acted against popular messaging platforms. Encrypted messenger Signal and another popular app, Viber, were blocked in 2024. This year, the authorities banned calls via WhatsApp, the most popular messaging app in Russia, and Telegram, a close second. Roskomnadzor justified the measure by saying the two apps were being used for criminal activities.
At the same time, authorities actively promoted a national messenger app called MAX, which critics see as a surveillance tool. The platform, touted by developers and officials as a one-stop shop for messaging, online government services, making payments, and more, openly declares it will share user data with authorities upon request. Experts also say it doesnt use end-to-end encryption.
Earlier this week, the government also said it was blocking Roblox, a popular online game platform, saying the step aimed at protecting children from illicit content and pedophiles who meet minors directly in the games chats and then move on to real life.
Stanislav Seleznev, cyber security expert and lawyer with the Net Freedom rights group, told The Associated Press that Russian law views any platform where users can message each other as organizers of dissemination of information.
This label mandates that platforms have an account with Roskomnadzor so that it could communicate its demands, and give Russia’s security service, the FSB, access to accounts of their users for monitoring; those failing to comply are in violation and can get blocked, Seleznev said.
He suggested that these regulations could have been applied to both Roblox and FaceTime.
Roblox in October was the second most popular game platform in Russia, with nearly 8 million monthly users, according to media monitoring group Mediascope.
Seleznev estimated that possibly tens of millions of Russians have been using FaceTime, especially after calls were banned on WhatsApp and Telegram. He called the restrictions against the service predictable and warned that other sites failing to cooperate with Roskomnadzor “will be blocked, thats obvious.
Dasha Litvinova, Associated Press
President Donald Trump on Wednesday announced a proposal to weaken vehicle mileage rules for the auto industry, loosening regulatory pressure on automakers to control pollution from gasoline-powered cars and trucks.
The plan, if finalized next year, would significantly reduce fuel economy requirements, which set rules on how far new vehicles need to travel on a gallon of gasoline, through the 2031 model year. The administration and automakers say the rules will increase Americans access to the full range of gasoline vehicles they need and can afford.
The National Highway Traffic Safety Administration projects that the new standards would set the industry fleetwide average for light-duty vehicles at roughly 34.5 miles per gallon in the 2031 model year, down from a projected 50.4 miles per gallon in 2031 under the Biden-era rule.
The move is the latest action by the Trump administration to reverse Biden-era policies that encouraged cleaner-running cars and trucks, including electric vehicles, and it sparked criticism from environmental groups. Burning gasoline for vehicles is a major contributor to planet-warming greenhouse gas emissions.
“From day one Ive been taking action to make buying a car more affordable, Trump said at a White House event that included top executives from two of the largest U.S. automakers.
The rule reverses a Biden-era policy that “forced automakers to build cars using expensive technologies that drove up costs, drove up prices and made the car much worse, Trump said.
Automakers applaud and environmentalists decry rule change
The action is expected to save consumers about $1,000 off the price of a new car, Trump said. New cars sold for an average of $49,766 on average in October, according to Kelley Blue Book.
Automakers applauded the planned changes, which came amid industry complaints that the Biden-era rules were difficult to meet.
Ford CEO Jim Farley said the planned rollback was a win for customers and common sense.
As Americas largest auto producer, we appreciate President Trumps leadership in aligning fuel economy standards with market realities. We can make real progress on carbon emissions and energy efficiency while still giving customers choice and affordability, he said.
Stellantis CEO Antonio Filosa said the automaker appreciates the administrations actions to realign the mileage standards with real world market conditions.
Since taking office in January, Trump has relaxed auto tailpipe emissions rules, repealed fines for automakers that do not meet federal mileage standards, and terminated consumer credits of up to $7,500 for EV purchases.
Environmentalists decried the rollback.
In one stroke Trump is worsening three of our nations most vexing problems: the thirst for oil, high gas pump costs, and global warming, said Dan Becker, director of the Safe Climate Transport Campaign for the Center for Biological Diversity.
Gutting the (gas-mileage) program will make cars burn more gas and American families burn more cash,” said Katherine García, director of the Sierra Club’s Clean Transportation for All program. This rollback would move the auto industry backwards, keeping polluting cars on our roads for years to come and threatening the health of millions of Americans, particularly children and the elderly.
‘People want the gasoline car’
Trump has repeatedly pledged to end what he falsely calls an EV mandate, referring incorrectly to Democratic President Joe Bidens target that half of all new vehicle sales be electric by 2030. EVs accounted for about 8% of new vehicle sales in the United States in 2024, according to Cox Automotive.
Trump called Democrats’ efforts to promote EVs insane, adding, People want the gasoline car.
No federal policy has required auto companies to sell EVs, although California and other states have imposed rules requiring that all new passenger vehicles sold in the state be zero-emission by 2035. Trump and congressional Republicans blocked the California law earlier this year.
Transportation Secretary Sean Duffy urged his agency to reverse existing fuel economy requirements, known as Corporate Average Fuel Economy, or CAFE, soon after taking office. In June, he said that standards set under Biden were illegal because they included use of electric vehicles in their calculation. EVs do not run on gasoline. After the June rule revision, the traffic safety administration was empowered to update the requirements.
The new rules are going to allow the automakers to make vehicles that Americans want to purchase, not vehicles that Joe Biden and (former Transportation Secretary Pete) Buttigieg want to build, Duffy said Wednesday.
Under Biden, automakers were required to average about 50 miles (81 kilometers) per gallon of gas for passenger cars by 2031, compared with about 39 miles (63 kilometers) per gallon today. The Biden administration also increased fuel-economy requirements by 2% each year for light-duty vehicles in every model year from 2027 to 2031, and 2% per year for SUVs and other light trucks from 2029 to 2031. At the same time, it called for stringent tailpipe rules meant to encourage EV adoption.
The 2024 standards would have saved 14 billion gallons of gasoline from being burned by 2050, according to the traffic safety administrations 2024 calculations. Abandoning them means that in 2035, cars could produce 22,111 more tons of carbon dioxide per year than under the Biden-era rules. It also means an extra 90 tons a year of deadly soot particles and 4,870 additional tons a year of smog components such as nitrogen oxides and volatile organic compounds going into the air in coming years.
Mileage rules have been implemented since the 1970s energy crisis, and over time, automakers have gradually increased their vehicles average efficiency.
Weakening fuel economy standards wont do much to make cars more affordable but is certain to make Americans buy a lot more gasoline,” said Albert Gore, executive director of the Zero Emission Transportation Association.
The action also harms domestic manufacturers that have invested heavily in EV technologies and hired thousands of employees to build them, Gore said.
GM CEO skips White House event
Notaby absent Wednesday was General Motors CEO Mary Barra, who was attending a previously scheduled event in New York City, a company spokesperson said. A GM plant manager represented the automaker at the White House instead.
Like Ford and Stellantis, GM has poured billions of dollars into electrification of its fleet. In a statement, the company said it supports the goals of the proposed rule. “We remain committed to offering the best and broadest portfolio of electric and gas-powered vehicles on the market, GM said.
Matthew Daly and Alexa St. John, Associated Press
Associated Press writers Darlene Superville and Seth Borenstein contributed to this report.
The Associated Press’ climate and environmental coverage receives financial support from multiple private foundations. AP is solely responsible for all content. Find AP’s standards for working with philanthropies, a list of supporters and funded coverage areas at AP.org.
The bill that brought the government back online last month ended the shutdown with an unexpected catch that could crush an entire industry.
A hidden provision slipped into the bill just before it passed has nothing to do with the federal shutdown and everything to do with hempthe version of cannabis thats grown as a food, a fiber, and, in recent years, as the active ingredient in an array of sodas, gummies, and snacks crafted to give people an alcohol-free buzz.
Hemp is legally defined as a variety of the plant Cannabis sativa L. that contains less than .3 percent of the most common form of THC, the psychoactive compound from marijuana that gets people high. In 2018, a multiyear agricultural law known as a farm bill created that distinction, removing hempthe very low-THC version of cannabisfrom being lumped in with the controlled substance marijuana. That small shift gave birth to a booming industry of hemp-based THC drinks and snacks, which quickly hit store shelves even where recreational cannabis is illegal.
Now, a provision in the federal spending bill will limit the amount of THC in a beverage or edible to .4 milligramswell below the 10 milligrams promised by some of the hemp-based drinks found on gas station shelves. While hemp contains much less THC than the high concentrations present in marijuana plants, hemp-based THC can still give people a dose-dependent buzz when ingested. Businesses interested in the THC loophole also began converting CBD, a nonintoxicating compound in hemp, into other forms of THC that were not subject to the same restrictions and bottling it up for customers.
The combination of THCs recreational appeal and the ease with which businesses could now sell and ship hemp-based THC products inspired a lot of entrepreneurs to jump into the recreational side of the hemp industry. Now that part of the industry is poised to be regulated out of existence over worries that weed by another name was suddenly everywhere. Whether a looming ban on hemp-derived THC drinks is common sense or a terrible misstep depends on your perspectiveand your business interests.
Beyond booze
With drinking on the decline as the health impacts of alcohol come to light, a wave of new companies view THC drinks as a future proof, zero-proof alternative to booze. That includes breweries large and small, which began experimenting with THC brews to offset their losses as the craft beer boom fizzles.
Xander Shepherd, who cofounded Artet, a company that sells THC-infused spritzes and aperitifs, says that he and his cousin went into business to bring THC to our familys Thanksgiving dinners.
On a deeper level, we were motivated by the belief that THC has an important role to play in the progression of cocktail culture, Shepherd told Fast Company. Our stated mission is to prove to the world that infused drinks belong on the bar cart, or the dining room table, or anywhere else you might find a great bottle of wine or a fine spirit.
Because the farm bills hemp rules appeared to be settled law at the federal level, the regulatory environment looked safe enough for a huge variety of companies to start producing and selling THC-based candies, canned drinks, vape oils, and other products. In the face of an uncertain future, Shepherd says Artet hopes to continue to open peoples minds and palates about its trendy THC sippables.
The THC trends detractors paint a different picture. Kentucky Senator Mitch McConnell quietly pushed through the regulatory change to purposefully undo a loophole he helped create. McConnell emphasized that the change wouldnt affect the industrial hemp industry, which grows the plant for products like biofuels, fiber, and paper, and was designed to rein in the rise of intoxicating and synthetic THC products.
I am proud to have championed this language that keeps these products out of the hands of children, secures the future of regulated hemp businesses, and keeps our promise to American farmers and law enforcement by clarifying the intention in the 2018 Farm Bill, McConnell said of the bill.
An uncertain future
States are also wrestling with the issue, weighing their worries against the success of a young industry thats creating jobs and pulling in substantial tax revenue. Prior to the bills passage, a group of attorneys general from almost 40 states wrote Congress with their concerns about the proliferation of widely available THC products, cautioning that convenience stores and gas stations are stocked to the brim with psychoactive THC products.
For Artet, the game plan is to continue being a good steward in an industry thats increasingly attracting scrutiny. We feel that providing a good example for consumers and legislators is one way we can help undo this potentially looming prohibition, Shepherd said, noting that many brands in the space work hard to keep their THC products safe. Artets bottles come with a special child-resistant cap and a shot glass for pouring precise servings, two measures it takes to keep customers safe and sipping as intended.
Ultimately, those bad actors are wildly outnumbered by business owners and brands who are trying to do things the right way, even when it makes the job harder, Shepherd said. We do these things because we believe theyre the right thing to do, and were not alone in our efforts.
Nvidia CEO Jensen Huang met separately with President Donald Trump and Republican senators Wednesday as tech executives work to secure favorable federal policies for the artificial intelligence industry, including the limited sale of Nvidia’s highly valued computer chips to U.S. rivals like China.
Huang’s closed-door meeting with Republicans on the Senate Banking Committee came at a moment of intensifying lobbying, soaring investments, and audacious forecasts by major tech companies about AIs potential transformative effects.
Huang is among the Silicon Valley executives who warn that any restrictions on the technology will halt its advancement despite mounting concerns among policymakers and the public about AI’s potential pitfalls or the ways foreign rivals like China may use American hardware.
Ive said repeatedly that we support export control, that we should ensure that American companies have the best and the most and first, Huang told reporters before his meeting on Capitol Hill.
He added that he shared concerns about selling AI chips to China but believed that restrictions haven’t slowed Chinese advancement in the AI race.
We need to be able to compete around the world. The one thing we cant do is we cant degrade the chips that we sell to China. They wont accept that. Theres a reason why they wouldnt accept that, and so we should offer the most competitive chips we can to the Chinese market, Huang said.
Huang also said hed met with Trump earlier Wednesday and discussed export controls for Nvidias chips. Huang added that he wished the president a happy holidays.
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. The White House in August also announced an unusual deal that would allow Nvidia and another U.S. chipmaker, Advanced Micro Devices, to sell their chips in the Chinese market but would require the U.S. government to take a 15% cut of the sales.
The deal divided lawmakers on Capitol Hill, where there is broad support for controls on AI exports.
A growing battle in Congress
Members of Congress have generally considered the sale of high-end AI chips to China to be a national security risk. China is the main competitor to the U.S. in the race to develop artificial superintelligence. Lawmakers have also proposed a flurry of bills this year to regulate AI’s impact on dozens of industries, though none have become law.
Most Republican senators who attended the meeting with Huang declined to discuss their conversations. But a handful described the meeting as positive and productive.
For me, this is a very healthy discussion to have, said Sen. Mike Rounds, a South Dakota Republican. Rounds said lawmakers had a general discussion” with Huang about the state of AI and said senators were still open to a wide range of policies.
Asked whether he believed Nvidia’s interests and goals were fully aligned with U.S. national security, Rounds replied: They currently do not sell chips in China. And they understand that theyre an American company. They want to be able to compete around the rest of the world. Theyd love to some time be able to compete in China again, but they recognize that export controls are important as well for our own national security.”
Other Republicans were more skeptical of Huang’s message.
Sen. John Kennedy, a Louisiana Republican who sits on the upper chamber’s Banking Committee, said he skipped the meeting entirely.
I dont consider him to be an objective, credible source about whether we should be selling chips to China, Kennedy told reporters. Hes got more money than the Father, the Son and the Holy Ghost, and he wants even more. I dont blame you for that, but if Im looking for someone to give me objective advice about whether we should make our technology available to China, he’s not it.”
Some Democrats, shut out from the meeting altogether, expressed frustration at Huang’s presence on Capitol Hill.
Evidently, he wants to go lobby Republicans in secret rather than explain himself, said Massachusetts Sen. Elizabeth Warren, the top Democrat on the Senate Banking Committee.
Warren added that she wanted Huang to testify in a public congressional hearing and answer questions about why his company wants to favor Chinese manufacturers over American companies that need access to those high-quality chips.
Matt Brown, Associated Press
