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BANGKOK — Japanese automakers Honda and Nissan will attempt to merge and create the world's third-largest automaker by sales as the industry undergoes dramatic changes in its transition away from fossil fuels. The two companies said they had signed a memorandum of understanding on Monday and that smaller Nissan alliance member Mitsubishi Motors also had agreed to join the talks on integrating their businesses. Honda will initially lead the new management, retaining the principles and brands of each company. Following is a quick look at what a combined Honda and Nissan would mean for the companies, and for the auto industry. Nissan Chief Executive Makoto Uchida, left, and Honda Chief Executive Toshihiro Mibe, center, and Takao Kato CEO of Mitsubishi Motors, right, arrive to attend a joint news conference Monday, Dec. 23, 2024, in Tokyo, Japan. (AP Photo/Eugene Hoshiko) An industry shakeup The ascent of Chinese automakers is rattling the industry at a time when manufacturers are struggling to shift from fossil fuel-driven vehicles to electrics. Relatively inexpensive EVs from China's BYD, Great Wall and Nio are eating into the market shares of U.S. and Japanese car companies in China and elsewhere. People are also reading... Japanese automakers have lagged behind big rivals in EVs and are now trying to cut costs and make up for lost time. Nissan, Honda and Mitsubishi announced in August that they will share components for electric vehicles like batteries and jointly research software for autonomous driving to adapt better to dramatic changes in the auto industry centered around electrification. A preliminary agreement between Honda, Japan's second-largest automaker, and Nissan, third largest, was announced in March. A merger could result in a behemoth worth about $55 billion based on the market capitalization of all three automakers. Joining forces would help the smaller Japanese automakers add scale to compete with Japan's market leader Toyota Motor Corp. and with Germany's Volkswagen AG. Toyota itself has technology partnerships with Japan's Mazda Motor Corp. and Subaru Corp. Nissan Chief Executive Makoto Uchida, left, Honda Chief Executive Toshihiro Mibe, center, and Takao Kato, CEO of Mitsubishi Motors, right, pose for photographers during a joint news conference in Tokyo, Japan, Monday, Dec. 23, 2024. (AP Photo/Eugene Hoshiko) What would Honda need from Nissan? Nissan has truck-based body-on-frame large SUVs such as the Armada and Infiniti QX80 that Honda doesn't have, with large towing capacities and good off-road performance, said Sam Fiorani, vice president of AutoForecast Solutions. Nissan also has years of experience building batteries and electric vehicles, and gas-electric hybird powertrains that could help Honda in developing its own EVs and next generation of hybrids, he said. "Nissan does have some product segments where Honda doesn't currently play," that a merger or partnership could help, said Sam Abuelsamid, a Detroit-area automotive industry analsyt. While Nissan's electric Leaf and Ariya haven't sold well in the U.S., they're solid vehicles, Fiorani said. "They haven't been resting on their laurels, and they have been developing this technology," he said. "They have new products coming that could provide a good platform for Honda for its next generation." Why now? Nissan said last month that it was slashing 9,000 jobs, or about 6% of its global work force, and reducing global production capacity by 20% after reporting a quarterly loss of 9.3 billion yen ($61 million). Earlier this month it reshuffled its management and its chief executive, Makoto Uchida, took a 50% pay cut to take responsibility for the financial woes, saying Nissan needed to become more efficient and respond better to market tastes, rising costs and other global changes. Fitch Ratings recently downgraded Nissan's credit outlook to "negative," citing worsening profitability, partly due to price cuts in the North American market. But it noted that it has a strong financial structure and solid cash reserves that amounted to 1.44 trillion yen ($9.4 billion). Nissan's share price has fallen to the point where it is considered something of a bargain. A report in the Japanese financial magazine Diamond said talks with Honda gained urgency after the Taiwan maker of iPhones Hon Hai Precision Industry Co., better known as Foxconn, began exploring a possible acquisition of Nissan as part of its push into the EV sector. The company has struggled for years following a scandal that began with the arrest of its former chairman Carlos Ghosn in late 2018 on charges of fraud and misuse of company assets, allegations that he denies. He eventually was released on bail and fled to Lebanon. Honda reported its profits slipped nearly 20% in the first half of the April-March fiscal year from a year earlier, as sales suffered in China. More headwinds Toyota made 11.5 million vehicles in 2023, while Honda rolled out 4 million and Nissan produced 3.4 million. Mitsubishi Motors made just over 1 million. Even after a merger Toyota would remain the leading Japanese automaker. All the global automakers are facing potential shocks if President-elect Donald Trump follows through on threats to raise or impose tariffs on imports of foreign products, even from allies like Japan and neighboring countries like Canada and Mexico. Nissan is among the major car companies that have adjusted their supply chains to include vehicles assembled in Mexico. Meanwhile, analysts say there is an "affordability shift" taking place across the industry, led by people who feel they cannot afford to pay nearly $50,000 for a new vehicle. In American, a vital market for companies like Nissan, Honda and Toyota, that's forcing automakers to consider lower pricing, which will eat further into industry profits. ____ AP Auto Writer Tom Krisher contributed to this report from Detroit. The safest cars in 2025 The safest cars in 2025 Airbags, advanced driver assistance features, and high-strength materials mean that the safest cars today are far better at protecting people from injuries than ever before. Although most new cars compare well to their predecessors, some stand above the rest. The safest cars for 2025 offer excellent occupant protection and also do a good job of preventing accidents from happening in the first place. Based on testing data from the Insurance Institute for Highway Safety , or IIHS, and the National Highway Traffic Safety Administration , or NHTSA, these are some of the safest cars available today. Ranging from inexpensive compact cars and mainstream midsize sedans to stylish station wagons, posh luxury cars, and sporty coupes and convertibles, Edmunds shares a list that has something for just about everyone. For those who prefer a higher seating position and maybe some added practicality, Edmunds' list of safest SUVs is for you. Safest Small Cars 2025 Mazda 3 The stylish Mazda 3 has a lot to offer compact-car shoppers, including great looks, a composed driving experience, and reasonable fuel economy from its base 2.0-liter engine. It's also one of the safest cars in its class, earning a perfect five stars in NHTSA crash testing and sterling crashworthiness and collision avoidance scores from the IIHS. Its standard features are forward collision warning, automatic emergency braking, and lane departure prevention. 2025 Honda Civic With mature styling, a premium interior, and an efficient hybrid powertrain option, the 2025 Honda Civic is a great option if safety is a concern since it aces almost all of the IIHS' crash tests and earns a five-star safety rating from the federal government. It also comes standard with adaptive cruise control, lane departure prevention, and forward collision warning with automatic emergency braking. The Civic falls short slightly in the IIHS' updated moderate overlap front test, which now accounts for rear passenger safety, but even so, it's one of the safest cars in its class. 2025 Mini Cooper Reflective of parent company BMW, today's Mini Cooper is well constructed and features premium safety features that belie its small size, including automatic emergency braking and forward collision warning. Although the Mini hasn't been tested by NHTSA, the IIHS gives the Cooper its highest score of Good in the original driver-side small overlap front, moderate overlap front, and side-impact tests. That said, the IIHS doesn't place the Cooper on its Top Safety Pick or Top Safety Pick+ lists since it hasn't been evaluated on the updated battery of passenger-side small overlap front, moderate overlap front, or side-impact tests. Expect the new-for-2025 Mini Cooper to earn decent crash ratings in those scenarios, especially since it shares its strong platform with the outgoing model. 2025 Toyota Prius With its recent redesign, the Toyota Prius transformed from a frumpy little caterpillar to a stylish and efficient butterfly. It also became a very safe hybrid hatchback. Perfect scores in all of its government and IIHS crash tests, as well as a sophisticated system of collision avoidance technology, earn it top marks. It's also one of our favorite cars on the market, period, as evidenced by its status as a 2024 Edmunds Top Rated vehicle. Safest Midsize Cars 2025 Honda Accord The Honda Accord is among the safest midsize sedans on the market today thanks to excellent crashworthiness scores and a competent standard collision prevention system. It's a Top Safety Pick+, beating out rivals like the Hyundai Sonata, Kia K5, and Subaru Legacy, and the Accord also earns a perfect five-star rating from NHTSA. Honda's hybrid-intensive product planning is on full display here—all but the two lowest Accord trims have a hybrid powertrain—and it's also among the most spacious cars in its class. 2025 Toyota Camry Like its Honda Accord rival, the Toyota Camry is also an IIHS Top Safety Pick+ with a five-star NHTSA rating. It also has a very impressive suite of driver assistance and safety technology, including lane departure prevention with active centering, full-speed adaptive cruise control, and automatic emergency braking. The Camry edges out the Accord in IIHS testing thanks to a more effective collision avoidance system, but both cars are remarkably well matched otherwise. 2025 Hyundai Ioniq 6 The fully electric Hyundai Ioniq 6 offers excellent safety and collision prevention, with excellent scores across the entire line of IIHS tests. The Ioniq 6 hasn't been tested for rollover resistance by NHTSA, but it earned a four-star front safety rating and a five-star side-impact rating in government tests. Like most EVs, the Hyundai Ioniq 6 comes standard with forward collision warning, automatic emergency braking, and lane departure prevention. It also offers up to 342 miles of all-electric driving in its longest-range trim level. Safest Luxury Cars 2025 Acura Integra The Acura Integra is a close mechanical cousin to the Honda Civic, so it's no surprise it does well in both the IIHS' and NHTSA's crash tests. The luxury hatchback is a Top Safety Pick+ and earns a perfect five stars in government testing. The AcuraWatch safety suite is standard on the Integra, bringing automatic emergency braking, lane centering, lane departure prevention, and adaptive cruise control. 2025 Mercedes-Benz C-Class The Mercedes-Benz C-Class is a safe option in the popular small luxury sedan segment thanks to its good scores in IIHS crash testing. Mercedes' best-selling sedan also comes standard with automatic emergency braking and forward collision warning, which helps it earn a Top Safety Pick award. However, it hasn't been tested by the NHTSA. 2025 Genesis G80 Both the Genesis G80 and the fully electric Genesis Electrified G80 earn a Top Safety Pick+ score from the IIHS thanks to their good scores on the agency's crash tests, as well as a comprehensive suite of active safety features that avoided collisions with simulated pedestrians. The internal-combustion-engine G80 earned a perfect five-star safety rating from NHTSA, and although the Electrified G80 hasn't been tested by the feds just yet, it should likely excel in those tests too. 2025 Genesis G90 The flagship Genesis G90 sedan competes with the Mercedes-Benz S-Class and BMW 7 Series, and the South Korean automaker clearly hasn't skimped on safety in its fight against the establishment. Although it hasn't been subjected to the NHTSA array of tests, it aced almost all of its IIHS tests, and a long list of standard active safety and driver assistance features sets it apart from the stingy German makes that charge extra for them. Safest Station Wagons 2025 Volvo V60 With handsome styling and a well-finished interior, the Volvo V60 is a very appealing station wagon for those looking for such a thing. It's also quite safe, with good crashworthiness scores in the IIHS' original moderate overlap front and side-impact scores. Unfortunately, since it hasn't been tested with the updated versions of those tests, it didn't earn this year's Top Safety Pick award, but it was called a Top Safety Pick+ in 2022. NHTSA also gives the V60 a five-star safety rating. 2025 Mercedes-Benz E 450 All-Terrain Although the Mercedes-Benz E 450 All-Terrain isn't a traditional wagon — it follows the lifted almost-crossover formula shared with the Audi A6 Allroad and Volvo V90 Cross Country — we'll take what we can get in this dwindling category. The All-Terrain hasn't been tested by the IIHS or NHTSA, but a previous-generation E-Class earned a 2023 Top Safety Pick+ award, and Mercedes isn't the kind of company that goes backward when it comes to safety. The E 450 All-Terrain comes standard with automatic emergency braking and forward collision warning, though, at this price, Benz should just make other active safety features standard. 2025 Audi A6 Allroad With a five-star NHTSA safety rating, standard forward collision warning and emergency braking, and excellent IIHS crashworthiness scores on its original tests, the Audi A6 Allroad does a good job protecting people (both passengers and pedestrians) from crashes. However, since the IIHS hasn't subjected the Allroad to its updated side and moderate front crash criteria, it lost its Top Safety Pick+ status in 2022. Still, it should be a fine option for luxury longroof shoppers. Safest Coupes and Convertibles 2025 Ford Mustang Both the Ford Mustang coupe and convertible perform well in crash testing. The coupe received a five-star safety rating from NHTSA, and both variants scored decently on all the IIHS tests they've undergone. They also come standard with forward collision warning, lane departure prevention, and automatic emergency braking. However, the IIHS needs to test both models on its updated criteria before it will rate them. 2025 Toyota GR86 Although the government hasn't tested it, the Toyota GR86 aced all of its IIHS crashworthiness tests when it was new for the 2022 model year. Unfortunately, since it hasn't been subjected to the IIHS' updated testing since then, it lost its Top Safety Pick+ status. Still, this is a fun-to-drive, sporty coupe that comes standard with a long list of active safety features, and it's reasonably priced to boot. 2025 Subaru BRZ Mechanically identical to the Toyota GR86, the 2025 Subaru BRZ achieves the same safety ratings—who would have thought? It likewise received a Top Safety Pick+ score in 2022 that lapsed when the IIHS updated its criteria for 2023, but like the Toyota, it has a long list of active safety features to go along with its lightweight, rip-roaring sports car attitude. 2025 Audi A5 The Audi A5 lost its traditional two-door coupe body style after 2024, but the five-door Sportback body style remains before it's replaced later in 2025. Although it hasn't seen the IIHS' more stringent test regimen, its original crashworthiness scores were good enough to earn it a Top Safety Pick award as recently as 2022. The Sportback is the only variant to be tested by the government, where it earned a five-star safety rating. This story was produced by Edmunds and reviewed and distributed by Stacker. The business news you need Get the latest local business news delivered FREE to your inbox weekly.Strictly Come Dancing contestant Montell Douglas made it through the dreaded dance-off for the second time. The 38-year-old athlete received 35 points for her Salsa with Johannes Radebe to Don't Leave Me This Way by Thelma Houston, bagging fourth place on the leader board. But the couple failed to win enough votes from Strictly viewers to avoid the bottom two, forcing them to dance again to progress through to this week. Montell made history two years ago as the first British woman to compete in both the Summer and Winter Olympics. She raced in the 100m sprint and 4x100m relay in Beijing in 2008, setting a British record of 11.05 seconds in the former, before competing in bobsleigh in the 2022 Winter Games, also in Beijing. Image: PA) PA) The star, who played Fire in the BBC's reboot of Gladiators, is now wowing viewers with... (Image: BBC)NEW YORK , Dec. 27, 2024 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Franklin Resources, INC. ("Franklin" or the "Company") (NYSE: BEN). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980. The investigation concerns whether Franklin and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. [Click here for information about joining the class action] On August 21, 2024 , Franklin subsidiary Western Asset Management Company issued a press release announcing that co-Chief Investment Officer Ken Leech "is on a leave of absence, effective immediately" after "receiv[ing] a Wells Notice from the Staff of the U.S. Securities and Exchange Commission". That same day, Bloomberg reported that "[f]ederal prosecutors in New York are investigating whether a Western Asset Management executive allocated winning trades to favored accounts, as part of a criminal probe into a practice known as 'cherry-picking.'" On this news, Franklin's stock price fell $2.84 per share, or 12.56%, to close at $19.78 per share on August 21 , 2024. Then, on November 25, 2024 , the U.S. Securities and Exchange Commission issued a press release entitled "SEC Charges Ken Leech, Former Co-Chief Investment Officer of Western Asset Management Co., with Fraud ." The press release stated that Leech had been charged with fraud "for engaging in a multi-year scheme to allocate favorable trades to certain portfolios, while allocating unfavorable trades to other portfolios, a practice known as cherry-picking." On this news, Franklin's stock price fell $0.51 per share, or 2.24%, to close at $22.21 per share on November 26, 2024 . Pomerantz LLP, with offices in New York , Chicago , Los Angeles , London , Paris , and Tel Aviv , is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz , known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud , breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com . Attorney advertising. Prior results do not guarantee similar outcomes. CONTACT: Danielle Peyton Pomerantz LLP [email protected] 646-581-9980 ext. 7980 SOURCE Pomerantz LLP
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NEW YORK (AP) — New York City Mayor Eric Adams appears open to switching parties to become a Republican, as he declined to rule out a future change in political allegiances during a pair of interviews Friday that came as he has increasing warmed to President-elect Donald Trump. The comments from Adams, the top Democrat in one of the country’s most liberal cities, riled critics who have grown concerned over the mayor’s increasing willingness to throw his support behind Trump and his hardline immigration policies. Adams, who faces federal corruption charges , was a registered Republican in the 1990s and early 2000s but has spent his political career as a Democrat. In a Friday morning interview with the local cable news station NY1, Adams was asked if he would consider a return to the GOP. The Democrat appeared to leave open the possibility of a switch. “The party that’s the most important for me is the American party,” he said. “I’m a part of the American party. I love this country. This is the home of the free, the land of the brave.” In another interview about a half-hour later on PIX11, Adams said he would run for reelection as a Democrat but still appeared to leave some wiggle room for his future. RELATED COVERAGE Ex-police officer denies leaking confidential information to Proud Boys leader On pardons, Biden weighs whether to flex presidential powers in broad new ways Mother of Austin Tice, journalist missing in Syria, says new information proves her son is alive “So no matter what party I’m on or vote on, I’m going to push for the American values,” he said. “And I think America has told us, stop the squabbling, leaders, and start leading us out of the crisis that we’re facing.” Adams won office on a centrist platform and has spent significant time as mayor quarreling with the progressive wing of his party. But his rhetoric has taken a noticeable rightward turn in the weeks since Trump’s election victory, particularly on immigration, with Adams boosting the president-elect’s platform and appearing enthusiastic about the incoming administration. Rather than restricting cooperation with Immigration and Customs Enforcement, as he once promised, Adams recently expressed a willingness to roll back the city’s so-called sanctuary policies, and he plans to meet with Trump’s top border official over concerns about what the mayor said was the “rising illegal alien crime rate in New York City.” He has also praised those in Trump’s orbit, including Elon Musk, who has claimed falsely that Democrats are illegally “importing” migrants to garner votes. “This is a racehorse that wanted to run its right pace and we’ve been holding back that racehorse out of fear of being canceled,” Adams said of the country Tuesday. “And now you have a bunch of people who are not afraid of being canceled.” The shift comes as Adams is trying to fight off an indictment on federal corruption charges while governing the city and gearing up to run for a second term. Adams has pleaded not guilty in his criminal case, in which he has been accused of accepting free or discounted overseas trips and illegal campaign contributions from people looking to gain his influence, including people connected to Turkey or the Turkish government. Adams’ critics have seized on his recent comments about the Trump administration as a move toward self-preservation, accusing the mayor of cozying up to the next president in an effort to secure a pardon in his corruption case. “Eric Adams continues to sound more like he is auditioning for a job in right-wing media than running for reelection in a Democratic primary,” said Zohran Mamdani, a state assembly member who is challenging against Adams in the mayoral primary. “Eric Adams is in City Hall because Democratic voters sent him there. To serve his own narrow self-interests, he is clearly prepared to betray them.” Zellnor Myrie, a state senator who is also challenging Adams in the primary, said “at a time when the Republican Party has never been more out of line with New York values, we need a mayor who isn’t scared to call himself a Democrat.” “Instead of playing footsie with the next president, we need a mayor with the courage to stand up for our city,” Myrie wrote on X. Adams on Friday did distance himself from the Trump administration’s potential plans to carry out mass deportations, saying, “You know, I’m not for mass deportation, but I’m not for mass saturation.” Still, the mayor’s recent remarks are a major departure from his stance before he took office. In June of 2021, a few weeks before winning the Democratic mayoral primary, Adams spoke to a room full of immigrant New Yorkers about the challenges facing city residents who are in the country illegally. “Too many of our neighbors live in the shadows,” he said at the time, “scarred by the abusive rhetoric and tactics of the Trump era and fearing a denial of their rights.” ___ Izaguirre reported from Albany.Apple Stock Keeps Climbing. This Analyst Says Skepticism Is Overdone.