Business and Finance News - 12.24.24

Honda and Nissan plan to merge, potentially with Mitsubishi, creating the world’s third-largest carmaker to compete in the electric vehicle market. The merger, valued at over $50 billion, aims to address competition from Tesla and BYD, with a formal agreement expected by 2026. (The Verge)

Key Insight → The merger between Honda and Nissan signals a major shift in the automotive landscape, underscoring how legacy carmakers are adapting to survive in the rapidly evolving electric vehicle (EV) market. This consolidation could foster innovation by pooling resources, but also reflects the mounting pressure traditional automakers face from emerging leaders like Tesla and BYD. If successful, the merger would not only create the world’s third-largest car manufacturer but also set the tone for further industry-wide realignments as companies race to lead in sustainable mobility.

News Corp is selling Foxtel to DAZN for $2.1 billion, reducing its exposure to traditional cable as streaming competition grows. The deal gives News Corp a 6% stake in DAZN and a board seat, while DAZN gains key sports broadcasting rights in Australia. (Reuters)

Key Insight → News Corp’s sale of Foxtel to DAZN for $2.1 billion reflects the growing dominance of streaming services over traditional cable TV. This deal allows News Corp to focus on core publishing and digital assets while expanding DAZN’s global reach and sports broadcasting rights. It signals a shift in media strategies, emphasizing streaming over legacy distribution models.

Nordstrom will go private in a $6.25 billion buyout by its founding family and Mexico’s El Puerto de Liverpool, with shareholders receiving $24.25 per share. The deal, expected to close in 2025, gives the Nordstrom family majority ownership while Liverpool holds 49.9%. (CNBC)

Key Insight → Nordstrom’s decision to go private in a $6.25 billion buyout reflects the increasing pressure on luxury retailers to adapt to shifting consumer habits and economic uncertainty. This move allows Nordstrom to focus on long-term growth without shareholder pressures, potentially stabilizing its position in a competitive market. The deal highlights growing international retail partnerships, as Mexico’s Liverpool gains significant influence in the U.S. luxury sector.

Starbucks workers are striking across major U.S. cities, protesting for better wages and labor conditions, shutting down nearly 50 stores. The strikes follow stalled negotiations over collective bargaining, with workers demanding higher pay and Starbucks citing the union’s proposals as unsustainable. (Quartz)

Key Insight → The Starbucks Christmas strike highlights growing labor unrest as workers demand better wages and conditions, impacting stores in major cities across the U.S. This expanding movement signals increasing worker frustration in the service sector, potentially influencing other large corporations facing similar pressures. The strikes reflect broader economic tensions, emphasizing the need for stronger labor negotiations during peak retail seasons.

Saturday Skool is now joint venture between Skool Projekt and Skool Workshop, delivering weekly insights into behavioral economics. Enjoy one free edition each month, with exclusive weekly content for paid subscribers—upgrade now to explore think pieces, case studies, and expert advice on smarter decision-making!

Ready to turn your business challenges into actionable strategies or looking for personalized guidance? Connect with Skool Workshop today for tailored consulting solutions or schedule a personalized one-on-one session today!

Here’s how the major indexes did yesterday:

• Dow Jones Industrial Average: 42,906.95 +66.69 (+0.16%)

• S&P 500: 5,974.07 +43.22 (+0.73%)

• Nasdaq Composite: 19,764.88 +192.29 (+0.98%)

• Russell 2000: 2,237.44 -4.93 (-0.22%)

Here’s how The Magnificent Seven did yesterday:

• Apple (AAPL) [3.859T]: 255.27 +0.78 (+0.31%)

• Nvidia (NVDA) [3.421T]: 139.67 +4.97 (+3.69%)

• Microsoft (MSFT) [3.236T]: 435.25 -1.35 (-0.31%)

• Alphabet (GOOGL) [2.382T]: 194.63 +3.22 (+1.68%)

• Amazon (AMZN) [2.367T]: 225.06 +0.14 (+0.06%)

• Meta Platforms (META) [1.514T]: 599.85 +14.60 (+2.49%)

• Tesla (TSLA) [1.382T]: 430.60 +9.54 (+2.27%)

Here’s how Bitcoin and Ethereum did yesterday:

• Bitcoin (BTC): $94,206.08 (8:00PM PST on 12/23/24)

• Ethereum (ETH): $3,386.43 (8:00PM PST on 12/23/24)