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Welcome to your January 2 newsletter...
Uber's CEO expressed openness to collaborating with Tesla, acknowledging the challenges of competing with Elon Musk. This comes as the robotaxi market intensifies. Also, know the reason why professionals are leaving their jobs to become influencers in today's Money Making Moves:
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In the Fast Lane of Business...
> Uber CEO Dara Khosrowshahi expressed interest in collaborating with Tesla on driverless cars, emphasizing a partnership-oriented approach to integrating autonomous technology into Uber's platform. While optimistic about cooperation, he acknowledged the challenges of competing with Tesla and highlighted Uber's partnerships with Waymo, Cruise, and Wayve after ending its own driverless car project in 2020. Khosrowshahi also took a more competitive stance with Amazon, stating that Uber aims to empower local merchants to challenge Amazon's dominance by leveraging Uber's courier network for rapid deliveries. Despite record third-quarter growth, he dismissed the likelihood of major acquisitions like Expedia, emphasizing Uber's focus on smaller deals and expanding affordable product offerings globally. > Goldman Sachs predicts several bullish factors for 2025, including stronger-than-expected economic growth, with GDP projected to rise by 2.4%, fueled by robust consumer spending. Business investment is expected to surge by 5% year-over-year, driven by factory equipment spending, tax incentives, and lower borrowing rates. The job market will likely improve, with unemployment falling to 4%, while inflation is predicted to cool further, with core PCE inflation dropping to 2.1% by year-end. Additionally, the Fed may cut interest rates three times in 2025, creating favorable conditions for the S&P 500, which Goldman projects could climb to 6,500. > Boeing shares fell over 2% after South Korea ordered inspections of all 737-800 planes following a deadly Jeju Air crash that killed 179 passengers. The crash occurred when the aircraft skidded off the runway at Muan International Airport after landing without proper gear, potentially caused by a reported bird strike. South Korea’s transport ministry is conducting a thorough investigation, with assistance from U.S. and international experts, to examine the aircraft's maintenance records and the circumstances of the crash. Despite its strong safety record, the incident has raised scrutiny over the widely used Boeing 737-800, particularly among South Korean low-cost carriers.
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Unique Business Idea For You
A Micro-SaaS business can be an ideal venture for those who want to help a specific audience without direct freelancing or consulting. Start by using low-cost no-code tools like Webflow, Glide, or Zapier to build a minimum viable product (MVP) for as little as $50 per month. Validate your idea with this MVP, as Alex Kracov did with Dock, before investing more as the business grows. This approach allows you to launch a scalable software solution with minimal upfront costs and risk.
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Side Hustle You’d Be Crazy Not to Try
Turning a hobby into a side hustle can be both enjoyable and rewarding. Choose something you genuinely love, as it should feel like a passion rather than a chore. For inspiration, a social worker turned her jewelry-making hobby into extra income, even getting her pieces featured on major TV shows with help from The Artisan Group. If you're unsure of your hobby's profitability, test the waters on a starter platform to gauge interest and demand.
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Personal Finance News
> Citi reaffirmed its Buy rating on Sembcorp Industries with a target price of SGD6.68, citing the early start of the Manah II Solar Project in Oman as a positive driver for 2025 revenue. The 588-megawatt solar farm, Sembcorp's largest renewable asset, adds 5% to its total renewable capacity and emphasizes the company’s focus on green energy growth. With renewables boasting a 73% EBITDA margin compared to 20% for conventional energy, these projects are key to Sembcorp’s profitability. The early solar project launch and recovery from prior maintenance shutdowns in Singapore are expected to significantly boost financial performance in the next fiscal year. For farm investing options, click here. > Pamela Shields, a Texas resident, struggles to make ends meet on her $1,470 monthly Social Security check after an early retirement due to a car accident and financial strain. Like millions of Americans, she returned to the workforce to address financial challenges caused by insufficient savings, early Social Security claims, and rising inflation. Retirees who claim Social Security benefits before the full retirement age (FRA) and continue to work may face benefit reductions if their earnings exceed the annual limit. However, these reductions are temporary, as withheld benefits are recalculated at FRA, resulting in larger monthly payouts for life. > Molly Rutter left her teaching career in August after realizing the financial and emotional strain it caused, despite her passion for the job. Initially making TikTok videos as a side project, she transitioned to full-time content creation after joining TikTok’s creator program and earning a sustainable income. Rutter faced challenges balancing teaching and her growing online presence, particularly as her school disapproved of her viral content, leading her to choose financial stability over her teaching career. While teaching fulfilled her emotionally, she values the mental health benefits and higher income her current career provides, even with the pressures of being a public figure.
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