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In the ‘00s, The Smashing Pumpkins frontman Billy Corgan looked at the disruptive nature of early social media platform MySpace and saw the death of the record label. It didn’t exactly work out that way — not with MySpace, not with Facebook, not with TikTok. In fact, the major music companies became adept at using these platforms to break artists and perpetuate their market power; if there’s a breakout song on TikTok, labels rush into an old-fashioned bidding war. While social media certainly disrupted the music business, it didn’t uproot the traditional record label model. There have been numerous other game-changers over the years that failed — on their own, at least — to radically alter how major labels do business, including independent distribution. After TuneCore launched in 2006, major labels continued to sign artists and own their intellectual property, albeit to broader “360” deals that incorporated more than recorded music rights. Nor did the advent of streaming by itself reshape the structure of major record labels. The artists with the most streaming success are involved with major labels in one way or another, be it a traditional record contract, a joint venture or, in rare cases like Taylor Swift , a distribution deal. Corgan may have misjudged social media’s sole impact on record labels, but he wasn’t entirely wrong about its ultimate influence. When combined, social media, independent distribution and streaming form a potent combination that has changed the balance of power and induced major labels to change how they promote music around the world. This dynamic isn’t exactly new, but it was never clearer than in 2024. This year, major labels have increasingly embraced the role of being service providers to those parties who prefer to remain independent and retain ownership of their intellectual property. A few years ago, Universal Music Group (UMG) was pouring money into superstar acquisitions such as Bob Dylan ’s and Sting ’s song catalogs. More recently, the company has been focusing on its artist services model. In the last three months alone, UMG acquired indie label group [PIAS] and agreed to acquire Downtown Music Holdings for $775 million, though the proposed deal has encountered opposition from the independent music community and will need to pass regulatory scrutiny before being finalized. The company also purchased Outdustry — which has an artist- and label-services arm that focuses on China, India and other high-growth emerging markets — and bought a stake in Chord Music Partners, giving UMG distribution and publishing administration duties for the more than 60,000 songs in the investment vehicle’s catalog. In fact, 2024 played out much like UMG CEO Lucian Grainge said it would. His January memo predicted the company would continue to expand globally and offer labels outside of mature markets a “full suite of artist services” while “acquiring local labels, catalogs and artist services businesses.” To be fair, UMG was already on that path: In 2022, it acquired m-theory’s artist services company and installed its founders, JT Myers and Nat Pastor , as co-CEOs of Virgin Music Group to expand Virgin’s independent music division globally. Warner Music Group (WMG) appears to have sensed the shifting landscape, too, as there has been a noticeable shift in messaging during Robert Kyncl ’s tenure as the company’s CEO. In the Stephen Cooper era, WMG was the music community’s leading investor in Web3 startups. In contrast, Kyncl has chosen to focus on expanding WMG’s footprint globally. WMG briefly signaled its interest in acquiring Believe in March and April after the French company announced a CEO-led effort to take the company private . Notably, Believe has a global label services business and a presence in developing markets that take advantage of the “glocalization” of local markets and global streaming platforms’ ability to help music travel across borders. WMG ultimately passed on pursuing Believe, but Kyncl has followed his peers’ interest in emerging markets, purchasing stakes in Indian companies Divo and Global Music Junction. The service model isn’t an entirely original approach. Grainge wrote that UMG is “creating the blueprint for the labels of the future,” but UMG is doing what major music companies have always done: following trends and buying independent companies that established a particular market. Sony Music already bought into the service model with The Orchard and AWAL, the latter purchased in 2022 for $430 million. Independents such as Believe, OneRPM and Symphonic Distribution have become established players by combining distribution and artist services, while investors have poured money into independents such as Create Music Group — which this year raised $165 million at a $1 billion valuation — and gamma, which is backed by $1 billion. But the well-established blueprint was never more of a hot commodity than in 2024. In the music business, nothing signifies the relevance of a business model like the major labels’ desire to buy it and integrate it into their systems — especially when the largest music companies feel they have no choice. The holy trinity of social media, independent distribution and global streaming platforms has given artists an alternative to the much-derided major label record contract. Artists who want to own their intellectual property and have more creative control have never had more of the tools necessary to be independent. That includes financing options, such as advances from well-funded independents or royalty advances from a new breed of financial services companies. When there’s no need for radio promotion and shelf space at brick-and-mortar retailers, the independent model looks a lot more attractive — not only for artists but for the major labels that have become increasingly keen on buying into it. Ironically, the major labels’ acceptance of the independents’ business model means the music business is becoming less independent. Trade groups such as the Association of Independent Music and IMPALA quickly spoke out against UMG’s agreement to purchase Downtown, just as they did with Sony Music’s purchase of AWAL. U.K. regulators ultimately concluded that AWAL was a “relatively small player” and that the deal did not substantially reduce competition. Time will tell if competition watchdogs feel the same about UMG’s much larger purchase of Downtown. In any case, the independents have proved that artist and label services businesses are a good fit for the modern music business. The next step was always going to be consolidation.NFL power rankings: Where league stands entering Week 17

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NFL NOTESRhett Dryburgh had no choice but to say goodbye to the “love of his life”, Semaphore eatery, Sarah’s Sister’s Sustainable Cafe. The devastated business owner is still coming to terms with the closure of his much-loved vegan venue, which he had operated for four years but had served the local community for almost five decades. “It’s been incredibly tough, we’ve just been hanging on by our fingertips and unfortunately we just haven’t been able to make it through to the new year,” Mr Dryburgh, 25, said. “It’s been very upsetting to close what you have been working on. It’s the love of our life. You don’t get up and work everyday unless you love it.” Mr Dryburgh took over the cafe during the pandemic and battled through some tough times, but said the current cost-of-living crisis, coupled with rising business expenses, left him with no option but to close the doors permanently on December 7. “It was really out of our hands by the end. It was purely a financial decision, unfortunately it was just not viable anymore,” he said. SCROLL DOWN FOR THE LIST OF 2024 CLOSURES Operating expenses, including energy and food costs, rent and insurance premiums, had skyrocketed in the last couple of years, Mr Dryburgh said. He said the cafe’s electricity and gas bill had risen 100 per cent up to $12,000 per annum. “It’s just a ridiculous cost increase and we just couldn’t take it anymore,” Mr Dryburgh said. “We can’t keep passing on the price increases to the customers because we love them and we can’t keep expecting them to foot the bill.” Rhett Dryburgh at his former hospitality venue, Sarah's Sister's Sustainable Cafe in Semaphore. Picture: Rhett Dryburgh A dish from Sarah's Sister's Sustainable Cafe. Picture: Rhett Dryburgh Mr Dryburgh’s story has been mirrored across the state’s hospitality industry in 2024, with a string of venues, from cafes and restaurants to bars and clubs, shutting their doors for good. These include longstanding institutions such as Cardone’s at Jetty Rd , Glenelg, and Martini’s on the Parade , in Norwood, to newer establishments like My Lover Cindi , on Pirie St, burger bar chain Cheffy Chelby’s and Port Adelaide nightclub Confession . Confession owner Shane Hryhorec, who closed his disability-friendly nightclub in April, said people were spending less on a night out than ever before. “We had one night and it was a free event and a third of the people in the room weren’t paying for anything at all,” Mr Hryhorec said. “There was a significant drop on the per head spend – about a 40 per cent reduction across three years. It’s sad because people just have less places to go, less live entertainment venues and less options.” Confession owner Shane Hryhorec. Picture: Supplied Mr Hryhorec said the dire situation facing hospitality business owners would only get worse, before it gets better. “I’m seeing a lot of businesses open and they last three months,” he said. “I hate to not be positive but I do think the next 12 months will be the same, potentially worse.” Publican Simone Douglas was forced to close the doors on her city cafe, The dob on King William , in May. She still operates the Duke of Brunswick Hotel and the Port Admiral Hotel at Port Adelaide. “You never want to admit failure but when you’ve thrown everything at it and you’re still losing money, you just have to call it quits,” Ms Douglas said. “Everyone is just a bit exhausted. We love the industry but it’s been a very tough year and we’ve had to dig in hard, just to stay open.” The gap between large and small venues will only widen in the future, Ms Douglas said. “There’s going to be a much bigger divide between those large-scale footprint operators, and those smaller cafes and bars, as owners look to increase profitability,” she said. “The industry isn’t going anywhere but it’s going to have to evolve and change.” Simone Douglas, owner of the Duke of Brunswick. Picture: NCA NewsWire / Morgan Sette Mr Hryhorec called on the state government to “do more” to support hospitality businesses, including easy-to-apply for grants, similar to those offered during the pandemic. “I think that would go a long way, because once businesses close, they stay closed,” he said. Mr Dryburgh said it’s going to be a “rough summer” for hospitality operators and urged people to support local businesses if they can. “If businesses can make it through to the new year, I have some hope and optimism that we could see some improvement in the second half of 2025,” he said. “And an interest-rate cut from the RBA would be a nice present for everyone.” Australian Hotels Association SA chief executive Anna Moeller said there had been a “perfect storm” of economic crises that had hit the hospitality in the wake of Covid – cost of living, which affected the number of patrons coming through their doors, and cost-of-operating that had seen their bills for facilities, insurance and ingredients skyrocket. “There’s all these fixed costs that they just can’t change,” said Ms Moeller, who also blamed “overwhelming” regulations and “red tape”. “I think it was that perfect storm that has seen the industry have an unnaturally high number of closures.” WHERE ARE THEY NOW: LIFE AFTER HOSPO AHA chief executive Anna Moeller. Picture: Supplied Ms Moeller said skills and labour shortages were further devastating hotels and restaurant owners, who were struggling to fill vital roles, particularly chefs and cooks. “It is incredibly bad,” she said. “There are some places that cannot open their kitchen every day because they cannot get a cook or a chef. There are regional areas that have got FIFO workers that are cooks and chefs – FIFO is no longer just mining, it’s hospitality.” She said caps on migration and overseas students and the perception that hospitality was a “job that you did before you started your career” were also recruitment hurdles. Ms Moeller said the death knell for some restaurants and cafes was the fact that costs deferred during Covid – such as rent and insurance – were now coming due and struggling business owners could not afford them. “It was like this cliff that they were rapidly approaching,” she said. “Once the Covid era ended and people could operate again, all of those debts fell due. We could see the cliff coming and we were saying our second wave of Covid won’t be sickness, it will be the closure of all these businesses that lived through but then once everything becomes due ... it is disastrous.” 11 VENUES WE LOVED AND LOST IN 2024 Cardone’s Jetty Rd, Glenelg Cardone's Seafood and Grill Restaurant at Jetty Road, Glenelg, closed this year. Picture: File After 24 years operating in the same location, owner-operator Nick Cardone was left with no choice but to shut down his restaurant in March , due to the ongoing impact of the pandemic combined with rising business costs. Owner Nick Cardone with comedian Barry Humphries at Cardone's. Picture: File “It really saddens me. This is my life. Day in, day out. I don’t remember having three days off in a row for a very, very long time,” Mr Cardone told The Advertiser at the time. “I get emotional about it. I still can’t believe it’s actually closed. It’s really taken a toll on me, it’s been very emotional and overwhelming to be honest. “As disappointing as it is, it’s a sign of the times.” Enzo’s Ristorante Port Rd, Hindmarsh The Fazzari family closed their restaurant Enzo's on Port Road after 25 years this year. (Back) Natalie, Matt, Anthony and Alex. (Front) Teresa and Enzo Fazzari. Picture: Tom Huntley One of Adelaide’s most iconic Italian restaurants, Enzo’s Ristorante, finally closed its doors in May after 25 years. The building’s lease was up and the venue’s owners, Enzo and Teresa Fazzari, decided it was the right time to hang up the apron. Teresa and Enzo Fazzari owners of Enzo's Ristorante which closed this year. Picture Mark Brake “I’ve got very mixed emotions. Sadness in a way, humbled by the response and proud to have achieved 25 years in this restaurant,” said chef Mr Fazzari, 69. Enzo’s has won multiple awards, including Excellence in Formal Italian Dining in 2017 and 2019 in SA, and was the one of the first Australia restaurants to be awarded the Ospitalita Italiana accreditation by the Italian Government for its authentic Italian dining experience. Martini’s on the Parade The Parade, Norwood Chef and owner Larry Piscioneri closed down his acclaimed Italian restaurant Martini’s on the Parade. Larry Piscioneri at Martini’s on the Parade. Owner and executive chef Larry Piscioneri said the current “uncertain economic climate” left him with little choice but to sell the business after almost two decades . “It’s the right call to make,” he told The Advertiser. Mr Piscioneri, 54, said consumer spending had been well down due to the cost of living crisis, and he estimated trade at Martini had fallen almost 50 per cent in the year leading up to its closure in May. Business costs had also surged, he said. Italian restaurant Martini’s on the Parade. Picture: File “It’s been frustrating to run a business in the last four years. It’s had its highs and lows. The last year has been the hardest,” he said. “I have so many loyal customers ... but people just don’t have the money to spend on dining out, and the cost of everything has gone up. “It’s very hard to turn a profit in this climate.” Fire and Vine Bevington Rd, Glenunga Inaugural head chef Jamie Bennie and owner George Melissourgos at Fire and Vine. Picture: Matt Loxton Succeeding a dining institution like Cork & Cleaver was never going to be easy but this new restaurant barely got off the ground. Owner George Melissourgos closed his steak and seafood eatery in June , nine months after he opened , and just a fortnight after a less-than-flattering SA Weekend review . The review, by respected Adelaide food writer Simon Wilkinson, described lengthy service delays, including an hour wait for entrees. A chicken dish at Fire and Vine in Glenunga. Picture: Matt Loxton Mr Melissourgos told The Advertiser staff recruitment was an “ongoing” issue for the venue. “We are trying to find good, reliable, consistent staff that we can rely on and have on-call if we need them. That’s the biggest thing,” he said at the time. Paddy Barry’s Gilles St, Adelaide Paddy's Barry on Gilles St. Picture: Facebook The pressures of running a small business while raising a young family led to Jimmy Barry closing his popular city coffee spot . Mr Barry, who took over the cafe formerly known as Sibling in 2021, said it wasn’t an easy decision but “ultimately, family comes first”. Paddy's Barry owner James Barry at his former Adelaide cafe. Picture: Facebook “After three incredible years, it brings sadness and relief to say we’re shutting our doors in the coming months. A decision that wasn’t easy to make,” he explained in a post on social media. “Ultimately, family comes first and I want to be the best dad, partner, son, brother and friend I possibly can. With the pressure of small business, I’m finding it hard to be present.” Known for brewing some of Adelaide’s best coffee, the cafe nestled in Adelaide’s south and named after the owner’s grandad was a hit with locals for years. North Adelaide Burger Bar O’Connell St, North Adelaide North Adelaide Burger Bar has closed its doors for good. Picture: File Late night eats in North Adelaide will never be the same. The home of the original AB meal, and a staple of SA’s fast food history for over seven decades, this legendary burger bar shut up shop for good in June . North Adelaide Burger Bar. Picture: File Its owners announced their decision on social media, revealing that “the current financial climate, rising costs of running the business and increased utility expenses” had made it impossible for them to continue trading. The post said the tough decision had been made despite their “best efforts” to keep the burger bar’s storied legacy alive. Cheffy Chelby’s Morphett Vale and Hallett Cove Michelle Lowe at her Cheffy Chelby’s venue in Port Noarlunga. Picture: Tom Huntley Owner-operator Michelle Lowe pulled the pin on her award-winning chain of breakfast burger bars in April, citing rising costs and customers’ reticence to spend for her devastating decision. It came after she was forced to close her flagship Port Noarlunga eatery when the building it was located in was declared derelict and unsafe by the local council in February 2023. Ms Lowe said customers simply weren’t spending as much money as in the past – and the figures no longer added up, with soaring food costs meaning a small coffee should practically cost up to $8. “I’ve taken too many hits. It’s like I’m playing Mortal Kombat and I keep getting killed,” said Ms Lowe, a chef, who launched the business after losing her job at the start of the pandemic. Folklore Cafe Mundy St, Port Adelaide Anika Harvey at Folklore Cafe in Port Adelaide. Picture: Tom Huntley This community favourite overlooking the Port Adelaide River shut its doors permanently in Februar y after almost 10 years of trading. “It’s with a very heavy heart that I have decided to close Folklore Cafe,” owner Anika Havey said in an emotional Facebook post. “It’s been an incredible nine years and I feel very lucky to have been here for this long.” The popular cafe served a range of dishes made from local and sustainable produce. Ms Havey explained how difficult it was to reach the decision after making strong connections in the community. Terroir Auburn Main N Rd, Auburn, Clare Valley Dan Moss and Annika Parish at Terroir Auburn. Picture: File Owners Dan Moss and Annika Parish said the “extremely volatile and uncertain economic future” of the country was a big factor in their decision to close their award-winning restaurant in May . In an emotional social media post, the couple said political leaders had yet to “fully recognise” the serious issues crippling the state’s hospitality industry. Kingfish starter at Terroir Auburn. Picture: Supplied “We are just simply not willing to carry any debt into the rest of the year, and risk our young family’s future on a game that is impossible to win for small business owners in 2024. “We won’t be the only ones making this decision this year. Brilliant and very talented operators will be faced with this choice also, and we hope they have the courage to make the right business decision for their families.” Mr Moss has since joined nearby Skillogalee Estate as their executive head chef . My Lover Cindi Pirie St, Adelaide Owner Rachel Hosking at My Lover Cindi. Picture: Naomi Jellicoe The venue hosted a farewell weekend at the end of May, with its owner-operators Rachel Hosking and Kate Toone saying the “exorbitant costs” of running a nightclub left them with no other choice but to pull the pin . “All good things must come to an end. The simple answer is that maintaining the exorbitant costs of a night-time venue has been near impossible for the whole three years and finally at this point we can no longer continue,” they said in a social media post. It came a few months are they told followers they were facing “extreme” venue challenge s in a “vulnerable” Facebook post urging locals to help them “turn things around” by heading out and buying tickets to events if they could. Ponyboy Murray Bridge The yoghurt shop and cafe founded by members of Murray Bridge’s horse-racing community started with a gallop in 2022. But just weeks before Christmas, they announced they were at the finish line . “We put our heart and soul into Ponyboy but unfortunately we couldn’t make it work,” the Ponyboy team said at the time. “There’s no doubt it’s a challenging period for many in the community and we definitely felt that as a small business, particularly in the last 12 months.” In a post to Facebook, Ponyboy thanked patrons, saying the business had “loved being a part of the Murray Bridge community” and appreciated the support of its “lovely customers”. More Coverage Hospo hell continues as one of SA’s best-known burger bars shuts shop George Yankovich Hospo hell: Brutal conditions force popular venues to continue closing Tara Miko Originally published as The South Australia hospitality closures that rocked the state in 2024 SA News Don't miss out on the headlines from SA News. Followed categories will be added to My News. Join the conversation Add your comment to this story To join the conversation, please log in. Don't have an account? Register Join the conversation, you are commenting as Logout More related stories SA News ‘I can’t believe it’: Homeless no more for Hayden and his dogs It’s been seven years since Hayden Patterson had a home and now with years on his feet in the streets, he can finally lay down safe in a place to call his own. Read more SA News ‘Knock you the f*** out’: Thug bashed female club promoter A drugged up thug has been jailed after he left a female club promoter unconscious in a sickening act of violence on Hindley Street. Read moreShyam Benegal came out of nowhere and lit up the Hindi film scene in the 1970s at a time when the industry was "an absolutely closed shop", as a close associate recalled it. It was the age of melodrama and action - 'Roti Kapda Aur Makaan' and 'Sholay' were big hits - and every release flaunted a roll-call of stars. "There was no possibility for any young filmmaker to get into it at all," is how Girish Karnad, who was then director of the Film and Television Institute of India, described it. Benegal's neorealism struck a deep chord with a generation keen on films that would mirror the social and political tensions of their time. His debut film 'Ankur' (The Seedling), a tale of sexual exploitation set against a feudal background with a cast of unknown yet riveting newcomers, ran 25 weeks at the landmark Eros theatre in Bombay. He had begun writing the script of 'Ankur' when he was in college in Hyderabad and spent 20 years looking for a financier before an ad film distributor agreed to produce it. Its success staked out new ground for the 'art/parallel cinema' movement that over time showcased new talent such as Naseeruddin Shah, Shabana Azmi, Smita Patil, Om Puri, Govind Nihalani, Vijay Tendulkar and Vanraj Bhatia. Benegal, who pioneered parallel cinema in India and created the 53-episode Bharat Ek Khoj, and whose last project was a 2023 biopic on Mujibur Rahman - 'Mujib: The Making Of A Nation' - passed away in a hospital in Mumbai, days after he turned 90 on Dec 14. Shyam Benegal grew up in a cantonment town near Hyderabad in 1930-40’s where his father, a professional still photographer, introduced him to the camera. The obsession with movies began early, his appetite whetted by Hollywood and Indian releases screened at a local hall for the morale of the troops. “There used to be two programme changes a week,” he once recalled. “...like in Cinema Paradiso, I befriended the projectionist so I could see both...” Shifting base after his education, he began working at Lintas in Mumbai as a copywriter. The next decade and a half were spent on a prodigious number of ad films and documentaries. Traces of the social concerns underpinning his cinema are evident in the shorts he made, including the earliest ones, such as A Child of the Street, which took a compassionate look at juvenile vagrancy, and Close to Nature, a colourful take on tribal life in Madhya Pradesh. His stint as a teacher at the Film and Television Institute of India (FTII) drew him closer to celluloid. But his bleak stories still had no takers among financiers. Lalit Bijlani of Blaze Advertising eventually stepped in. Both Ankur and Nishant, which came a year later, were set in the feudal lands of Telangana, a region under the Nizam. It was a world Benegal had seen up close in his formative years. Touted as his most striking works, the narratives and characters were situated in a rural milieu with a distinct dialect and attendant class-caste equations. Coming around the time of the Emergency, the two films spurred a movement of sorts and cemented his reputation as the high priest of the ‘New Wave’. Benegal’s eclectic interests showed in the diversity of subjects. From Gujarat’s milk cooperatives (Manthan) to the life of a silent film era actress (Bhumika), from 1857 (Junoon) to feuding business families (Kalyug), his projects spanned periods and themes. A bearded, Renaissance figure at the centre of the ‘art film’ circuit, he was equally a mentor to actors, musicians, writers and technicians. At a felicitation to celebrate Benegal’s 25 years as a filmmaker, actor-playwright Girish Karnad spoke of his innate ability to help artistes tap their potential. “He was not just a director but also a doctor, a psychiatrist, a father figure and a banker,” said Karnad. The latter part of Benegal’s career was marked by biopics, including one on Gandhi’s years in South Africa and a tetralogy on Muslim women (Mammo, Sardari Begum, Hari-Bhari and Zubeidaa). By then, the ‘art film’ movement had dissipated. He had turned to a new set of collaborators, many from commercial cinema. His standout work in this period, however, was a part elegiac, part quirky interpretation of a Dharamvir Bharti novel, Suraj Ka Saatvan Ghoda. Occasional forays into television too made for interesting viewing: Bharat Ek Khoj, the mega-series based on Jawaharlal Nehru’s Discovery of India, and Samvidhaan, on the making of the Indian Constitution, were the best examples. Benegal’s influence on the Indian film industry extended far beyond his own body of work. He headed a govt committee set up in 2016 to streamline the film certification process and lay down a framework that would allow more room for artistic expression. Stay updated with the latest news on Times of India . Don't miss daily games like Crossword , Sudoku , and Mini Crossword . Spread love this holiday season with these Christmas wishes , messages , and quotes.

Outnumbered creator breaks silence on 'depressing' storyline after Christmas backlashOn Monday, Japanese automakers Nissan and Honda announced they have begun official negotiations to merge, which could catapult them to the world's third-largest carmaker by sales. During the same day, the company announced its share buyback plans by December 23 next year, which amounts to 24% of its issued shares. Shares of Japanese automaker Honda were on track for their best day in 16 years after it announced to buy back up to 1.1 trillion yen ($7 billion) of its shares on Monday amid merger talks with Nissan . Nissan and Honda said they had begun official negotiations to merge , which could catapult them to the world's third-largest carmaker by sales. Honda also announced to buy back 24% of its issued shares by Dec. 23 next year. Its shares were last up 15.51%, and would clock their best day since October 2008, if gains hold. Nissan shares fell over 1%. The Honda-Nissan deal would focus on sharing knowledge and resources, achieving economies of scale and creating synergies, Honda CEO Toshihiro Mibe said . A holding company will be established as the parent organization for both Honda and Nissan, and will be listed on the Tokyo Stock Exchange. "These two companies, they are operating in the same market, and they have very similar brand images, they have very similar products," Hakan Dogu, chairman of Alagan Mobility Solutions, told CNBC on Tuesday. "The new management has a big challenge to differentiate the product range and also extend the business," he added. Discussions are set to conclude in June 2025. Nissan's strategic partner, Mitsubishi, has been given the opportunity to join the new group and is expected to make a decision by the end of January 2025. Honda reported 1.382 trillion yen in operating profit for the full year to March 2024, versus Nissan's 568.7 billion yen. The automakers would have a combined value of nearly $54 billion, with Honda's market capitalization contributing the greater $43 billion share. Analysts suggested that the potential merger stems from Nissan's financial struggles and the restructuring of its long-standing partnership with France's Renault. In its latest quarterly report, Nissan announced plans to cut 9,000 jobs and reduce its global production capacity by 20%. —CNBC's Jenni Reid contributed to this report.

Season-to-date discretionary general merchandise spending remains 3% below last year following strong promotion peaks Holiday Q4 Dollar Sales Volume by Week Discretionary general merchandise weekly retail sales performance through 2024 holiday shopping season Discretionary General Merchandise Holiday Shopping Week Performance Dollar Sales Volumes and Week-over-Week Percent Change "Timing is everything. Thanksgiving 2024 occurred a week later than Thanksgiving 2023, creating significant disruption, not only in the timing of the traditional sales peaks related to Black Friday and Cyber Monday promotions, but also in the number of shopping days that follow, leading up to Christmas,” said Marshal Cohen, chief retail industry advisor for Circana . "The measurement of this holiday season is very different this year, but the consumer's behavior remains stable.” This year's Black Friday week discretionary general merchandise unit and dollar sales were up 2%, and Cyber Monday week sales were up 5%. Surpassing last year's promotional week performance, which fell short of the year prior, was the first test for this holiday shopping season. Black Friday 2024 beat Black Friday 2023, and aligned with 2022 and 2021 performances. Cyber Monday 2024 resumed the momentum of prior years. As revealed in Circana's annual Holiday Purchase Intentions study, fewer consumers plan to wait till the last minute to embark on their holiday shopping than last year. However, opportunity remains among those feeling the frenzy of this year's abbreviated post-Thanksgiving shopping timeline, and the 5% of holiday shoppers who planned early on to wait till late December to get started. "The next test of Holiday 2024 is maximizing the shortened shopping period, limiting the post-Cyber Week lull, and making sure this year's single Super Saturday is big enough to offset last year's double-Saturday shopping event,” added Cohen. "Amid the race to the finish, marketers are smart to extend their thinking, as this season is presenting lessons that will be critical in planning for Holiday 2025.” ### About Circana Circana is a leading advisor on the complexity of consumer behavior. Through superior technology, advanced analytics, cross-industry data, and deep expertise, we provide clarity that helps almost 7,000 of the world's leading brands and retailers take action and unlock business growth. We understand more about the complete consumer, the complete store, and the complete wallet, so our clients can go beyond the data to apply insights, ignite innovation, meet consumer demand, and outpace the competition. Learn more at www.circana.com . Attachments Holiday Q4 Dollar Sales Volume by Week Discretionary General Merchandise Holiday Shopping Week Performance CONTACT: Janine Marshall Circana 5166252356 [email protected]Detroit Lions show Chicago Bears what they’re lacking in handing them 9th straight loss

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New Mexico's Nuclear-Weapons BoomPrince Louis received a truly special gift this Christmas from a young fan with whom he shares a unique connection. Six-year-old Rupert Bradley from York presented the young royal with a hand-finished silver egg cup and spoon, engraved with King Charles III’s Coronation Commemorative Mark. The thoughtful gift, which Rupert originally received in his own Christmas stocking, was so treasured by the boy that he persuaded his mother, jeweler Kay Bradley, to arrange for a matching one to be made for Prince Louis. “Rupert has always loved Prince Louis,” Kay shared. “They were born just days apart, which is why he feels such a connection.” Rupert, who has a lower-limb condition called Bilateral Talipes, explained his admiration for Louis, saying, “He always looks a bit cheeky and fun.” The young fan also expressed pride in giving Louis a token connected to York, adding, “Louis is likely to be our next Duke of York, so it’s important he has a special connection to our magical city.” Despite undergoing multiple hospital operations, Rupert’s mother described him as brave and selfless. “He’s always thinking of others, and we are so proud of him,” Kay said. Bradley’s Jewellers York, the family business, had previously obtained one of the last Coronation Commemorative Marks launched in 2023. Roxanne Guest, Deputy Chief Executive at Birmingham Assay Office, which handled the engraving, said, “The King Charles III Coronation Commemorative Mark, unveiled in February 2023, was available for jewellers and designers from March 2023 to December 2024.” This heartfelt gesture not only brightened Prince Louis’ Christmas but also highlighted the strong connection between the royal family and its youngest admirers. Save my name, email, and website in this browser for the next time I comment. Δ document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() );

The Edmonton Oilers have been one of the hottest teams in the NHL over the past five and a half weeks. Now, with the holiday break in the rearview mirror, they'll look to keep it going when they visit the Los Angeles Kings on Saturday. Back on Nov. 18, the Oilers were 9-8-2 after a 3-0 loss to the Montreal Canadiens. They rebounded the next night with a 5-2 win against the host Ottawa Senators, spurring their current 12-3-0 stretch. Most recently, they've won three in a row, including a 3-1 home victory against the Senators on Sunday. "I think we're in a good spot," goalie Stuart Skinner said after that contest. "We're finding ways to win games. We don't want to lose two in a row, and we've been doing a pretty good job of that lately. I think the way we've been playing in all ends of the ice has been pretty consistent." Edmonton scored 2.63 goals per game and allowed 3.16 goals through the first five weeks of the season. They've done a 180-degree flip, averaging 4.07 goals for while limiting opponents to an average of 2.33 from Nov. 19 and on. Special teams have also improved, with the power play going from 16.3 percent efficiency to 28.2 percent and the penalty kill from a 67.4 percent success rate up to 86.7 percent. A resurgent Zach Hyman has helped contribute to the Oilers' success. The 32-year-old has seven goals in a six-game goal streak and has 10 of his 13 on the season in nine games since returning from injury Dec. 5. "When you're feeling good, things are easier, things slow down," he said. "When you're not feeling good, everything seems fast. ... So much of hockey and sports are results-driven. And when you're not getting the results, you know that it's about the process and about getting your looks and getting your chances and being around it." The Kings, meanwhile, kick off a five-game homestand with Saturday's tilt, hoping to rebound following back-to-back losses in the finale of a seven-game road trip that spanned 13 days. Los Angeles has struggled slightly since posting a sixth straight win against the New York Islanders, dropping four of the six games that followed (2-2-2). Despite the average results on the trip, the Kings are just one point behind the Oilers for second place in the Pacific Division. "It's a pretty good trip," coach Jim Hiller said. "We would have liked points out of (a 3-1 loss to the Washington Capitals on Sunday), but the trip itself was good. We played some pretty good hockey." The comforts of home could help fuel the team to get the results it missed out on during its road trip. Los Angeles has been one of the best home teams thus far, going 10-2-1 in 13 games. The Kings have won five straight as the hosts, with their last defeat coming on Nov. 20 against Buffalo. Defenseman Mikey Anderson has been stellar for the team on the back end in the absence of Drew Doughty, averaging a career-high 22:43 of ice time, a minute-plus more than his previous high set two seasons ago. "What an engine and he's really taking a step," Hiller said. "we've talked about that more than once. He's a really important player for us." --Field Level MediaHouse Ethics Committee accuses Gaetz of 'regularly' paying for sex, including with 17-year-old girlTrump threat to immigrant health care tempered by economic hopes