NEW YORK (AP) — Remember what you searched for in 2024? Google does. Google released its annual “Year in Search” on Tuesday, rounding up the top trending queries entered into its namesake search engine in 2024. The results show terms that saw the highest spike in traffic compared to last year — ranging from key news events, notably global elections , to the most popular songs, athletes and unforgettable pop-culture moments that people looked up worldwide. Sports — particularly soccer and cricket — dominated Google's overall trending searches in 2024. Copa América topped those search trends globally, followed by the UEFA European Championship and ICC Men's T20 World Cup . Meanwhile, the U.S. election led news-specific searches worldwide. Queries about excessive heat and this year's Olympic Games followed. U.S. President-elect Donald Trump topped searches in Google's people category this year — followed by Catherine, Princess of Wales , U.S. Vice President Kamala Harris and Algerian boxer Imane Khelif , who also led athlete-specific searches. Meanwhile, the late Liam Payne , Toby Keith and O.J. Simpson led search trends among notable individuals who died in 2024. In the world of entertainment, Disney and Pixar's “Inside Out 2” was the top trending movie of the year, while Netflix's “Baby Reindeer” led TV show trends. And Kendrick Lamar’s “Not Like Us” dominated song trends. That's just the tip of the iceberg. Queries for the Olympic village's chocolate muffin , made famous by Norwegian swimmer Henrik Christiansen over the summer games, led Google's global recipe trends this year. The New York Times' “Connections” puzzle topped game searches. And in the U.S., country-specific data shows, many people asked Google about online trends like the word “demure” and “ mob wife aesthetic .” You can find more country-specific lists, and trends from years past , through Google’s “Year in Search” data published online . The California company said it collected 2024 search results from Jan. 1 through Nov. 23 of this year. Google isn't the only one to publish an annual recap or top trends as 2024 draws to a close. Spotify Wrapped , for example, as well as Collins Dictionary and Merriam-Webster’s words of the year, have offered additional reflections for 2024. Copyright 2024 The Associated Press . All rights reserved. This material may not be published, broadcast, rewritten or redistributed. READ:LAS VEGAS — Formula 1 on Monday at last said it will expand its grid in 2026 to make room for an American team that is partnered with General Motors. "As the pinnacle of motorsports, F1 demands boundary-pushing innovation and excellence. It's an honor for General Motors and Cadillac to join the world's premier racing series, and we're committed to competing with passion and integrity to elevate the sport for race fans around the world," GM President Mark Reuss said. "This is a global stage for us to demonstrate GM's engineering expertise and technology leadership at an entirely new level." The approval ends years of wrangling that launched a U.S. Justice Department investigation into why Colorado-based Liberty Media, the commercial rights holder of F1, would not approve the team initially started by Michael Andretti. Andretti in September stepped aside from leading his namesake organization, so the 11th team will be called Cadillac F1 and be run by new Andretti Global majority owners Dan Towriss and Mark Walter. The team will use Ferrari engines its first two years until GM has a Cadillac engine built for competition in time for the 2028 season. People are also reading... Towriss is the the CEO and president of Group 1001 and entered motorsports via Andretti's IndyCar team when he signed on financial savings platform Gainbridge as a sponsor. Towriss is now a major part of the motorsports scene with ownership stakes in both Spire Motorsports' NASCAR team and Wayne Taylor Racing's sports car team. Walter is the chief executive of financial services firm Guggenheim Partners and the controlling owner of both the World Series champion Los Angeles Dodgers and Premier League club Chelsea. "We're excited to partner with General Motors in bringing a dynamic presence to Formula 1," Towriss said. "Together, we're assembling a world-class team that will embody American innovation and deliver unforgettable moments to race fans around the world." Mario Andretti, the 1978 F1 world champion, will have an ambassador role with Cadillac F1. But his son, Michael, will have no official position with the organization now that he has scaled back his involvement with Andretti Global. "The Cadillac F1 Team is made up of a strong group of people that have worked tirelessly to build an American works team," Michael Andretti posted on social media. "I'm very proud of the hard work they have put in and congratulate all involved on this momentous next step. I will be cheering for you!" The approval has been in works for weeks but was held until after last weekend's Las Vegas Grand Prix to not overshadow the showcase event of the Liberty Media portfolio. Max Verstappen won his fourth consecutive championship in Saturday night's race, the third and final stop in the United States for the top motorsports series in the world. Grid expansion in F1 is both infrequent and often unsuccessful. Four teams were granted entries in 2010 that should have pushed the grid to 13 teams and 26 cars for the first time since 1995. One team never made it to the grid and the other three had vanished by 2017. There is only one American team on the current F1 grid — owned by California businessman Gene Haas — but it is not particularly competitive and does not field American drivers. Andretti's dream was to field a truly American team with American drivers. The fight to add this team has been going on for three-plus years, and F1 initially denied the application despite approval from F1 sanctioning body FIA. The existing 10 teams, who have no voice in the matter, also largely opposed expansion because of the dilution in prize money and the billions of dollars they've already invested in the series. Andretti in 2020 tried and failed to buy the existing Sauber team. From there, he applied for grid expansion and partnered with GM, the top-selling manufacturer in the United States. The inclusion of GM was championed by the FIA and president Mohammed Ben Sulayem, who said Michael Andretti's application was the only one of seven applicants to meet all required criteria to expand F1's current grid. "General Motors is a huge global brand and powerhouse in the OEM world and is working with impressive partners," Ben Sulayem said Monday. "I am fully supportive of the efforts made by the FIA, Formula 1, GM and the team to maintain dialogue and work towards this outcome of an agreement in principle to progress this application." Despite the FIA's acceptance of Andretti and General Motors from the start, F1 wasn't interested in Andretti — but did want GM. At one point, F1 asked GM to find another team to partner with besides Andretti. GM refused and F1 said it would revisit the Andretti application if and when Cadillac had an engine ready to compete. "Formula 1 has maintained a dialogue with General Motors, and its partners at TWG Global, regarding the viability of an entry following the commercial assessment and decision made by Formula 1 in January 2024," F1 said in a statement. "Over the course of this year, they have achieved operational milestones and made clear their commitment to brand the 11th team GM/Cadillac, and that GM will enter as an engine supplier at a later time. Formula 1 is therefore pleased to move forward with this application process." Yet another major shift in the debate over grid expansion occurred earlier this month with the announced resignation of Liberty Media CEO Greg Maffei, who was largely believed to be one of the biggest opponents of the Andretti entry. "With Formula 1's continued growth plans in the US, we have always believed that welcoming an impressive US brand like GM/Cadillac to the grid and GM as a future power unit supplier could bring additional value and interest to the sport," Maffei said. "We credit the leadership of General Motors and their partners with significant progress in their readiness to enter Formula 1." Be the first to know Get local news delivered to your inbox!
Cam Ward breaks Bernie Kosar's single-season Miami passing yards and completions records
Social Security COLA 2025: Check Rates, Adjusted Amount, Payment Dates And More
F1 expands grid, adds Cadillac brand and new American team for '26
LAS VEGAS — Formula 1 on Monday at last said it will expand its grid in 2026 to make room for an American team that is partnered with General Motors. "As the pinnacle of motorsports, F1 demands boundary-pushing innovation and excellence. It's an honor for General Motors and Cadillac to join the world's premier racing series, and we're committed to competing with passion and integrity to elevate the sport for race fans around the world," GM President Mark Reuss said. "This is a global stage for us to demonstrate GM's engineering expertise and technology leadership at an entirely new level." The approval ends years of wrangling that launched a U.S. Justice Department investigation into why Colorado-based Liberty Media, the commercial rights holder of F1, would not approve the team initially started by Michael Andretti. Andretti in September stepped aside from leading his namesake organization, so the 11th team will be called Cadillac F1 and be run by new Andretti Global majority owners Dan Towriss and Mark Walter. The team will use Ferrari engines its first two years until GM has a Cadillac engine built for competition in time for the 2028 season. Towriss is the the CEO and president of Group 1001 and entered motorsports via Andretti's IndyCar team when he signed on financial savings platform Gainbridge as a sponsor. Towriss is now a major part of the motorsports scene with ownership stakes in both Spire Motorsports' NASCAR team and Wayne Taylor Racing's sports car team. Walter is the chief executive of financial services firm Guggenheim Partners and the controlling owner of both the World Series champion Los Angeles Dodgers and Premier League club Chelsea. "We're excited to partner with General Motors in bringing a dynamic presence to Formula 1," Towriss said. "Together, we're assembling a world-class team that will embody American innovation and deliver unforgettable moments to race fans around the world." Mario Andretti, the 1978 F1 world champion, will have an ambassador role with Cadillac F1. But his son, Michael, will have no official position with the organization now that he has scaled back his involvement with Andretti Global. "The Cadillac F1 Team is made up of a strong group of people that have worked tirelessly to build an American works team," Michael Andretti posted on social media. "I'm very proud of the hard work they have put in and congratulate all involved on this momentous next step. I will be cheering for you!" The approval has been in works for weeks but was held until after last weekend's Las Vegas Grand Prix to not overshadow the showcase event of the Liberty Media portfolio. Max Verstappen won his fourth consecutive championship in Saturday night's race, the third and final stop in the United States for the top motorsports series in the world. Grid expansion in F1 is both infrequent and often unsuccessful. Four teams were granted entries in 2010 that should have pushed the grid to 13 teams and 26 cars for the first time since 1995. One team never made it to the grid and the other three had vanished by 2017. There is only one American team on the current F1 grid — owned by California businessman Gene Haas — but it is not particularly competitive and does not field American drivers. Andretti's dream was to field a truly American team with American drivers. The fight to add this team has been going on for three-plus years, and F1 initially denied the application despite approval from F1 sanctioning body FIA. The existing 10 teams, who have no voice in the matter, also largely opposed expansion because of the dilution in prize money and the billions of dollars they've already invested in the series. Andretti in 2020 tried and failed to buy the existing Sauber team. From there, he applied for grid expansion and partnered with GM, the top-selling manufacturer in the United States. The inclusion of GM was championed by the FIA and president Mohammed Ben Sulayem, who said Michael Andretti's application was the only one of seven applicants to meet all required criteria to expand F1's current grid. "General Motors is a huge global brand and powerhouse in the OEM world and is working with impressive partners," Ben Sulayem said Monday. "I am fully supportive of the efforts made by the FIA, Formula 1, GM and the team to maintain dialogue and work towards this outcome of an agreement in principle to progress this application." Despite the FIA's acceptance of Andretti and General Motors from the start, F1 wasn't interested in Andretti — but did want GM. At one point, F1 asked GM to find another team to partner with besides Andretti. GM refused and F1 said it would revisit the Andretti application if and when Cadillac had an engine ready to compete. "Formula 1 has maintained a dialogue with General Motors, and its partners at TWG Global, regarding the viability of an entry following the commercial assessment and decision made by Formula 1 in January 2024," F1 said in a statement. "Over the course of this year, they have achieved operational milestones and made clear their commitment to brand the 11th team GM/Cadillac, and that GM will enter as an engine supplier at a later time. Formula 1 is therefore pleased to move forward with this application process." Yet another major shift in the debate over grid expansion occurred earlier this month with the announced resignation of Liberty Media CEO Greg Maffei, who was largely believed to be one of the biggest opponents of the Andretti entry. "With Formula 1's continued growth plans in the US, we have always believed that welcoming an impressive US brand like GM/Cadillac to the grid and GM as a future power unit supplier could bring additional value and interest to the sport," Maffei said. "We credit the leadership of General Motors and their partners with significant progress in their readiness to enter Formula 1." Get local news delivered to your inbox!Austin Ekeler was concussed late in the Commanders' loss and taken to hospital for evaluation
Affiliate links for the products on this page are from partners that compensate us (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate tax products to write unbiased product reviews. Donations to charity are generally tax-deductible if you itemize your deductions. The recipient of your donation must have a special tax-exempt status called 501(c)(3). Gifts of cash, stockholdings, clothing, household goods, and even real estate are potentially tax-deductible. Taxpayers who donate to charitable causes can use a federal income tax deduction to reduce what they owe the IRS. However, only those who itemize their deductions can take advantage of it. According to the Tax Foundation, since 2017 tax reforms, the number of people who itemize has dropped dramatically, making the charitable tax deduction all the more valuable to those who qualify. Qualified organizations for tax-deductible donations Some donations to 501(c)(3) organizations are deductible on your federal tax return and potentially your state return, too. This means you can subtract the value of the donation from your income, which may lead to a lower tax bill. A 501(c)(3) is a tax-exempt organization registered with the IRS. Examples include religious and educational groups, civil and human rights groups, animal and child welfare organizations, private family nonprofits, and medical research groups. Types of tax-deductible donations Most people give cash to charity, in part because it's easy to report. But you can also donate big-ticket items such as a car or stock portfolio. Donating financial assets that have increased in value helps you avoid the capital gains tax and qualify for an income tax deduction. "Donations can take the form of almost anything of value, and the fair market value most often determines the deduction amount," says H. Jeffrey Spivack, director of financial planning at Prestige Wealth Management Group. Donations to political parties, political action committees, campaigns, or individual political candidates are not eligible for a tax deduction. Neither is money you give to individuals, whether directly or through online fundraisers. For example, a donation to the American Red Cross for hurricane relief might be tax-deductible (provided you meet other conditions), but a check made out to a specific family affected by the disaster is not. Many people give cash or cash equivalents to charity. Other types of donations that may be eligible for a tax deduction include: Stocks and bonds Intellectual property, such as patents, copyrights, and trademarks Jewelry, coin, or stamp collections Clothing, appliances, electronics, furniture, and other household items that are in good condition or better Cars, boats, and airplanes Real estate and land Business inventory (special rules apply to food) 14 cents per mile when you drive your car while volunteering for a qualifying organization Important: Donations to individuals are not considered tax-deductible charitable contributions. They are gifts and fall under separate gift tax rules . Deduction limits and requirements In order to qualify for the charitable donations tax break, you have to itemize your deductions. In addition to charitable donations, common itemized deductions include mortgage interest , state and local taxes up to $10,000, and major medical expenses. Few taxpayers itemize since the standard deduction — an amount that everyone automatically gets to claim against their income — increased substantially in 2018. The standard deduction for taxes due in April 2025 is $14,600 for single tax filers and $29,200 for married joint filers. If your standard deduction is higher than your total itemized deductions, you won't get any benefit from writing off any of your expenses, including charitable donations. Because of these rules, it can be difficult for married couples to deduct any of their charitable contributions. Their total itemized deductions would need to be at least double that of a single filer to eclipse the standard deduction. "The decision about whether to use a standard or itemized deduction is based on which will provide the taxpayer a better benefit, so it may make sense to consider bunching multiple itemized deductions into a single year to obtain a more significant overall deduction, including the tax-deductible charitable contribution," Spivack says. Quick tip: If you receive something in return for making a donation, such as a meal or tickets to a sports game, the tax-deductible portion is your total donation minus the fair market value of the item. The type of donation you make and the charity it goes to determine how much of it will be deductible. In general, the tax deduction for cash contributions is capped at 60% of your adjusted gross income (AGI). Non-cash donations, including property that has increased in value — i.e., capital gain property — are subject to 20%, 30%, and 50% limits. If your total donations for the year exceed your AGI limit, you may be able to carry over the remainder and claim deductions during the next five years. Note: For tax years 2020 and 2021, the IRS temporarily allowed tax filers to claim up to $300 in charitable donations as a deduction without itemizing. That's no longer available. In 2024, a single taxpayer with $100,000 in annual income donated $7,000 to their community church and $1,000 to the Girl Scouts of America for a total of $8,000 in charitable contributions. The standard deduction is $14,600, so the taxpayer needs an additional $6,600 in itemized deductions, such as mortgage interest or state and local taxes, to be able to claim the charitable tax deduction. Say the taxpayer ends up with total itemized deductions of $18,000. That's higher than the standard deduction, so their taxable income becomes $82,000. Record-keeping for tax-deductible donations As with any tax matter, it's important to keep receipts of your charitable donations. Generally, the larger your donation, the more detailed your records should be. For cash donations of less than $250, keep a copy of your bank statement, a canceled check, or a note from the organization to verify the date and size of your gift. For cash or non-cash donations of $250 or more, ask the organization for a receipt showing the estimated value of your donation. Charitable donations of any size for which you are seeking a tax deduction are reported on the tax form Schedule A , under the Gifts to Charity section. For non-cash donations of more than $500, you will need to attach Form 8283 , which asks for details like your original purchase price. For donations above $5,000, you will need a professional to appraise the item. The organization that received your donation will also need to complete and sign part of the tax form. Maximizing your tax benefits If you regularly donate to charity but cannot seem to exceed your standard deduction with gifts to charity and other eligible itemized deductions, you might consider bunching your donations. In this case, you'll make several years' worth of donations in a single year to increase your chances of being able to itemize deductions. Contributing stocks to a donor-advised fund , which lets you choose your recipients over time, can be an effective way to bunch donations and avoid taxes on capital gains. "By donating appreciated securities held for more than one year, a taxpayer is donating up to 20% more than if they had sold the security and written a check," Spivack says. Also, there's one case where you may be able to essentially write off your charitable donations without itemizing your deductions, Spivack says. If you're 70 and a half or older, you can redirect up to $100,000 a year from your IRA to a qualified charity in lieu of taking your required minimum distribution in a move called a qualified charitable distribution, or QCD. Though the mechanics are slightly different from the charitable tax deduction, you still avoid paying income taxes on the amount you donate. FAQs about tax-deductible donations To be tax-deductible, your donations must be received by a 501(c)(3) organization. You will need to provide a receipt for all cash and non-cash donations worth $250 or more. Charitable donations are a type of itemized deduction. If you don't have enough other eligible expenses to itemize this year, you won't be able to claim your gifts to charity. You might consider bunching contributions into a single year in the future so that you have a better chance at eclipsing your standard deduction and being able to itemize. Real estate/mortgages Taxes Retirement planning Small business finances Banking BudgetingFox News Flash top sports headlines are here. Check out what's clicking on Foxnews.com. A quarterback duel ensued between the Tennessee Titans’ Will Levis and the Houston Texans’ C.J. Stroud on Sunday in an AFC South clash, and the improbable occurred. The Titans and Levis came away with the 32-27 win to move to 3-8 on the season. CLICK HERE FOR MORE SPORTS COVERAGE ON FOXNEWS.COM Tennessee Titans tight end Chig Okonkwo runs past Texans safety Eric Murray after a catch to score a touchdown during the second half of an NFL football game, Nov. 24, 2024, in Houston. (AP Photo/Eric Christian Smith) The second-year quarterback threw a 38-yard touchdown pass to Nick Westbrook-Ikhine late in the first quarter to take a 10-7 lead. Then, on the first play of their drive with about 9:35 left in the game, Levis found Chig Okonkwo for a 70-yard touchdown pass. Tennessee’s big play gave them a 30-27 lead. Later, Titans linebacker Harold Landry III put the icing on the cake with a safety on Stroud at the 1:13 mark. Levis was 18-of-24 with 278 passing yards. He was sacked eight times, fumbled the ball away and threw an interception but still got the Titans the win. AARON RODGERS HAS RESISTED INJURY SCANS TO AVOID BEING BENCHED: REPORT Texans defensive tackle Tommy Togiai sacks Tennessee Titans quarterback Will Levis during the second half of an NFL football game, Nov. 24, 2024, in Houston. (AP Photo/Ashley Landis) Titans running back Tony Pollard ran for 119 yards on 24 carries. He scored a 10-yard touchdown in the second quarter. Calvin Ridley led the team with five catches for 93 yards. Tennessee’s defense gave Stroud a headache. Linebacker Kenneth Murray Jr. and defensive back Jarvin Brownlee Jr. each picked off Stroud. Stroud finished with two touchdown passes. He was 20-of-33 with 247 yards. He started the game with a 19-yard touchdown pass to Cade Stover on their first drive. He then found Nico Collins for a five-yard touchdown pass. But there was no offense from the Texans beyond that. Houston cornerback Jimmie Ward took a Levis interception back 65 yards for a score in the third quarter. It gave the Texans a one-point lead. Kicker Ka’imi Fairbain added to it with a 54-yard field goal. But the defense couldn’t make the play to stop Okonkwo from scoring. It proved to be the major difference-maker. Texans wide receiver Nico Collins celebrates his touchdown with fans during the first half of an NFL football game against the Tennessee Titans, Nov. 24, 2024, in Houston. (AP Photo/Eric Christian Smith) Collins had five catches for 92 yards. Stover had three catches for 26 yards. CLICK HERE TO GET THE FOX NEWS APP Houston fell to 7-5 on the year. Follow Fox News Digital’s sports coverage on X and subscribe to the Fox News Sports Huddle newsletter . Ryan Gaydos is a senior editor for Fox News Digital.
The Washington Commanders (7-5) experienced what is easily the toughest loss of the season and also one of the scariest moments at the end of the game when veteran running back Austin Ekeler suffered a hard hit that left him motionless on the ground. Ekeler returned a kickoff and was trying to get the offense in good field position for a final Hail Mary attempt when he was decked by Dallas Cowboys players Nick Vigil and Dwight Clark. He immediately fell to the turf and didn't move. Several teammates instantly waved to the sideline for trainers to come out and check on him. Fortunately, he eventually walked off the field. Very scary scene here to close the Commanders-Cowboys game. Austin Ekeler down on the field. pic.twitter.com/VPMo32shBQ Commanders head coach Dan Quinn updated Ekeler's status after the game. He suffered a concussion, which is the second one he's suffered this year. "I just had a chance to visit with him now. He'll do more tests, tonight, but it was a concussion." As a result, the team decided to send him to the hospital as a precaution. Ekeler finished the game with 22-yards on nine carries and two-yards on two receptions. It's more unfortunate injury news regarding the running back room, as the team also lost top running back Brian Robinson Jr. to a sprained ankle earlier in the game. Out of an abundance of caution Austin Ekeler is headed to the hospital for further testing, per Commanders spokesperson This article first appeared on A to Z Sports and was syndicated with permission.
A new month is here, so what better time to make some new additions to your investment portfolio. If exchange traded funds ( ) are on your radar, then it could be worth taking a look at the three listed below. They provide investors with exposure to groups of companies from a range of sectors and locations. Here's why they could be top options in December: For investors interested in the cryptocurrency industry but hesitant to own coins directly, the offers an alternative pathway. This ASX ETF is designed to provide exposure to the broader crypto ecosystem, capturing the growth of the industry without the need for direct involvement in individual cryptocurrencies. The fund's portfolio includes a diverse mix of companies with significant ties to the crypto market. These includes pure-play crypto companies and those with at least 75% of their balance sheets held in crypto-assets. In addition, the ETF includes diversified companies actively engaged in crypto-centric operations, such as payment platforms, mining, or blockchain development. If the cryptocurrency market thrives and adoption continues to accelerate, the companies within this ETF stand to benefit significantly from their important roles in the ecosystem. Another ASX ETF worth considering for your portfolio in December is the . It was recently by BetaShares as a top option for investors right now. The fund provides exposure to a globally diversified portfolio of approximately 8,000 stocks. Its holdings span large, mid, and small-cap companies across Australia, the US, developed markets, and emerging markets. This could make it an attractive option for investors aiming to build wealth over the long term while capitalising on the growth potential of leading companies worldwide. A third ASX ETF to consider in December is the . This ETF offers investors easy access to some of the most prominent and innovative technology companies in the Asia-Pacific region, excluding Japan. The fund is designed to tap into Asia's rapidly expanding tech sector, driven by a growing middle class and a tech-savvy population. Many of the companies in this fund appear well-positioned for long-term growth, as they cater to the increasing demand for e-commerce, digital services, and advanced technologies across the region. Among its holdings are leading names such as e-commerce giant and . The latter is the parent company of Temu and Pinduoduo. These companies are at the forefront of Asia's tech revolution and are benefiting from the region's transformation into a global technology hub.LAS VEGAS — Formula 1 on Monday at last said it will expand its grid in 2026 to make room for an American team that is partnered with General Motors. "As the pinnacle of motorsports, F1 demands boundary-pushing innovation and excellence. It's an honor for General Motors and Cadillac to join the world's premier racing series, and we're committed to competing with passion and integrity to elevate the sport for race fans around the world," GM President Mark Reuss said. "This is a global stage for us to demonstrate GM's engineering expertise and technology leadership at an entirely new level." The approval ends years of wrangling that launched a U.S. Justice Department investigation into why Colorado-based Liberty Media, the commercial rights holder of F1, would not approve the team initially started by Michael Andretti. Andretti in September stepped aside from leading his namesake organization, so the 11th team will be called Cadillac F1 and be run by new Andretti Global majority owners Dan Towriss and Mark Walter. The team will use Ferrari engines its first two years until GM has a Cadillac engine built for competition in time for the 2028 season. Towriss is the the CEO and president of Group 1001 and entered motorsports via Andretti's IndyCar team when he signed on financial savings platform Gainbridge as a sponsor. Towriss is now a major part of the motorsports scene with ownership stakes in both Spire Motorsports' NASCAR team and Wayne Taylor Racing's sports car team. Walter is the chief executive of financial services firm Guggenheim Partners and the controlling owner of both the World Series champion Los Angeles Dodgers and Premier League club Chelsea. "We're excited to partner with General Motors in bringing a dynamic presence to Formula 1," Towriss said. "Together, we're assembling a world-class team that will embody American innovation and deliver unforgettable moments to race fans around the world." Mario Andretti, the 1978 F1 world champion, will have an ambassador role with Cadillac F1. But his son, Michael, will have no official position with the organization now that he has scaled back his involvement with Andretti Global. "The Cadillac F1 Team is made up of a strong group of people that have worked tirelessly to build an American works team," Michael Andretti posted on social media. "I'm very proud of the hard work they have put in and congratulate all involved on this momentous next step. I will be cheering for you!" The approval has been in works for weeks but was held until after last weekend's Las Vegas Grand Prix to not overshadow the showcase event of the Liberty Media portfolio. Max Verstappen won his fourth consecutive championship in Saturday night's race, the third and final stop in the United States for the top motorsports series in the world. Grid expansion in F1 is both infrequent and often unsuccessful. Four teams were granted entries in 2010 that should have pushed the grid to 13 teams and 26 cars for the first time since 1995. One team never made it to the grid and the other three had vanished by 2017. There is only one American team on the current F1 grid — owned by California businessman Gene Haas — but it is not particularly competitive and does not field American drivers. Andretti's dream was to field a truly American team with American drivers. The fight to add this team has been going on for three-plus years, and F1 initially denied the application despite approval from F1 sanctioning body FIA. The existing 10 teams, who have no voice in the matter, also largely opposed expansion because of the dilution in prize money and the billions of dollars they've already invested in the series. Andretti in 2020 tried and failed to buy the existing Sauber team. From there, he applied for grid expansion and partnered with GM, the top-selling manufacturer in the United States. The inclusion of GM was championed by the FIA and president Mohammed Ben Sulayem, who said Michael Andretti's application was the only one of seven applicants to meet all required criteria to expand F1's current grid. "General Motors is a huge global brand and powerhouse in the OEM world and is working with impressive partners," Ben Sulayem said Monday. "I am fully supportive of the efforts made by the FIA, Formula 1, GM and the team to maintain dialogue and work towards this outcome of an agreement in principle to progress this application." Despite the FIA's acceptance of Andretti and General Motors from the start, F1 wasn't interested in Andretti — but did want GM. At one point, F1 asked GM to find another team to partner with besides Andretti. GM refused and F1 said it would revisit the Andretti application if and when Cadillac had an engine ready to compete. "Formula 1 has maintained a dialogue with General Motors, and its partners at TWG Global, regarding the viability of an entry following the commercial assessment and decision made by Formula 1 in January 2024," F1 said in a statement. "Over the course of this year, they have achieved operational milestones and made clear their commitment to brand the 11th team GM/Cadillac, and that GM will enter as an engine supplier at a later time. Formula 1 is therefore pleased to move forward with this application process." Yet another major shift in the debate over grid expansion occurred earlier this month with the announced resignation of Liberty Media CEO Greg Maffei, who was largely believed to be one of the biggest opponents of the Andretti entry. "With Formula 1's continued growth plans in the US, we have always believed that welcoming an impressive US brand like GM/Cadillac to the grid and GM as a future power unit supplier could bring additional value and interest to the sport," Maffei said. "We credit the leadership of General Motors and their partners with significant progress in their readiness to enter Formula 1." Get local news delivered to your inbox!
Middle East latest: Israel bombs 100s of sites in Syria as army pushes into border zoneNEW YORK (AP) — U.S. stock indexes drifted lower Tuesday in the runup to the highlight of the week for the market, the latest update on inflation that’s coming on Wednesday. The S&P 500 dipped 0.3%, a day after pulling back from its latest all-time high . They’re the first back-to-back losses for the index in nearly a month, as momentum slows following a big rally that has it on track for one of its best years of the millennium . The Dow Jones Industrial Average fell 154 points, or 0.3%, and the Nasdaq composite slipped 0.3%. Tech titan Oracle dragged on the market and sank 6.7% after reporting growth for the latest quarter that fell just short of analysts’ expectations. It was one of the heaviest weights on the S&P 500, even though CEO Safra Catz said the company saw record demand related to artificial-intelligence technology for its cloud infrastructure business, which trains generative AI models. AI has been a big source of growth that’s helped many companies’ stock prices skyrocket. Oracle’s stock had already leaped more than 80% for the year coming into Tuesday, which raised the bar of expectations for its profit report. In the bond market, Treasury yields ticked higher ahead of Wednesday’s report on the inflation that U.S. consumers are feeling. Economists expect it to show similar increases as the month before. Wednesday’s update and a report on Thursday about inflation at the wholesale level will be the final big pieces of data the Federal Reserve will get before its meeting next week, where many investors expect the year’s third cut to interest rates . The Fed has been easing its main interest rate from a two-decade high since September to take pressure off the slowing jobs market, after bringing inflation nearly down to its 2% target. Lower rates would help give support to the economy, but they could also provide more fuel for inflation. Expectations for a series of cuts through next year have been a big reason the S&P 500 has set so many records this year. Trading in the options market suggests traders aren’t expecting a very big move for U.S. stocks following Wednesday’s report, according to strategists at Barclays. But a reading far off expectations in either direction could quickly change that. The yield on the 10-year Treasury rose to 4.22% from 4.20% late Monday. Even though the Fed has been cutting its main interest rate, mortgage rates have been more stubborn to stay high and have been volatile since the autumn. That has hampered the housing industry, and homebuilder Toll Brothers’ stock fell 6.9% even though it delivered profit and revenue for the latest quarter that topped analysts’ expectations. CEO Douglas Yearley Jr. said the luxury builder has been seeing strong demand since the start of its fiscal year six weeks ago, an encouraging signal as it approaches the beginning of the spring selling season in mid-January. Elsewhere on Wall Street, Alaska Air Group soared 13.2% after raising its forecast for profit in the current quarter. The airline said demand for flying around the holidays has been stronger than expected. It also approved a plan to buy back up to $1 billion of its stock, along with new service from Seattle to Tokyo and Seoul . Boeing climbed 4.5% after saying it’s resuming production of its bestselling plane , the 737 Max, for the first time since 33,000 workers began a seven-week strike that ended in early November. Vail Resorts rose 2.5% after the ski resort operator reported a smaller first-quarter loss than analysts expected in what is traditionally its worst quarter. All told, the S&P 500 fell 17.94 points to 6,034.91. The Dow dipped 154.10 to 44,247.83, and the Nasdaq composite slipped 49.45 to 19,687.24. In stock markets abroad, indexes were mixed in China after the world’s second-largest economy said its exports rose by less than expected in November. Stocks rose 0.6% in Shanghai but fell 0.5% in Hong Kong. Indexes fell across much of Europe ahead of a meeting this week by the European Central Bank, where the widespread expectation is for another cut in interest rates. AP Business Writers Matt Ott and Elaine Kurtenbach contributed.
Here's what to know about the new funding deal that countries agreed to at UN climate talksNone
The Biometric Technology Market Share Reach USD 127.32 Billion by 2030, Registering 14.1% of CAGRAston Villa march on in Champions League after beating RB LeipzigChuck Woolery, smooth-talking game show host of 'Love Connection' and 'Scrabble,' dies at 83
After rough start under coach Mike Macdonald, the Seahawks’ defense has become a strengthYou can buy Meta Ray-Ban smart glasses for 20% off this Black Friday - how the deal works
