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Plenty of turkey this Thanksgiving


Plenty of turkey this Thanksgiving

There’s plenty of turkey for second helpings this Thanksgiving. Supplies will be plentiful after a recent production boom. Add that to stagnant US demand and you’ve got the recipe for cheaper birds. According to an annual survey from the American Farm Bureau Federation, a 16-pound turkey will cost about 1.6 percent less than last year, and the whole meal will be the cheapest since 2013. Turkey demand almost doubled in the 1980s as Americans flocked to low-fat foods. Since then, per-capita disappearance — a proxy for consumption — has been fairly stable. US production has climbed faster than demand in the past two years. While the worst-ever US bird-flu outbreak killed millions of birds in 2015, the epidemic has since abated. — BLOOMBERG NEWS



Uber announces deal for self-driving cars with Volvo

No one knows what the future of self-driving cars will look like, or how long it will take to get there. But every major player in the field is striking partnerships to be ready for the day when autonomous vehicles finally become mainstream. That includes Uber, which Monday announced a new deal with Volvo. Under the agreement, Uber plans to purchase as many as 24,000 self-driving Volvos once the technology is production-ready, putting the vehicles into its extensive ride-hailing network. Meanwhile, Colorado regulators have issued an $8.9 million fine against Uber’s parent company for allowing employees with serious criminal or motor vehicle offenses to work for the company. The Colorado Public Utilities Commission said Monday that it launched an investigation into the ride-hailing service in March after an Uber driver was accused of assaulting a passenger in Vail. — ASSOCIATED PRESS and NEW YORK TIMES


Safety group asking for recall of Chrysler Pacifica minivans

An auto safety group is asking the government for a recall of Chrysler Pacifica minivans over complaints that the engines can stall without warning. The Center for Auto Safety petitioned the National Highway Traffic Safety Administration Monday, asking for an investigation and a recall of 150,000 minivans from the 2017 model year. The group says over 50 people have complained to the government about stalling and Fiat Chrysler hasn’t been able to fix the problem. Some have complained that the vans have stalled several times. Fiat Chrysler says it takes customer concerns seriously and doesn’t know of any crashes or injuries due to the issue. The company says it’s monitoring data and will respond if it shows a safety defect. — ASSOCIATED PRESS



EU chooses France and the Netherlands to host key agencies post-Brexit

The European Union went back to its roots Monday by picking cities from two of its founding nations — France and the Netherlands — to host key agencies that will have move once Britain leaves the bloc in 2019. During voting so tight they were both decided by a lucky draw, EU members except Britain chose Amsterdam over Italy’s Milan as the new home of the European Medicines Agency and Paris over Dublin to host the European Banking Authority. Both currently are located in London. Frankfurt, home of the European Central Bank, surprisingly failed to become one of the two finalists competing for the banking agency. The relocations made necessary by the referendum to take Britain out of the EU are expected to cost the country over 1,000 jobs directly and more in secondary employment. The outcomes of the votes also left newer EU member states in eastern and southern Europe with some bitterness. Several had hoped to be tapped for a lucrative prize that would be a sign the bloc was truly committed to outreach. — ASSOCIATED PRESS



21st Century Fox creates workplace council at Fox News after harassment scandal

21st Century Fox Inc. agreed to create a workplace council at its embattled Fox News channel and will receive a $90 million insurance payment as part of a deal settling shareholder litigation over sex-harassment scandals at the network. The conduct of Fox News has become a threat to 21st Century Fox’s efforts to acquire full ownership of Sky Plc, one of Europe’s biggest pay-TV providers. The deal is the latest step in the company’s attempt to address reporting and oversight failures that allowed alleged sexual misconduct by its chief of its news operations, the now-deceased Roger Ailes, and others to continue without the board being aware. Former Fox employees involved in harassment and discrimination lawsuits against the company have been testifying to UK regulators who are scrutinizing the $15.4 billion offer for British pay-TV company. The litigation has threatened to derail the bid. The council will help ensure a proper workplace environment for employees and guests, strengthen reporting practices for wrongdoing, bolster human-resources training, and help recruitment and advancement of women and minorities, 21st Century Fox said Monday in a statement. The City of Monroe Employees’ Retirement System, a shareholder, sued controlling shareholder and executive chairman Rupert Murdoch, along with his two sons, other directors, and the estate of Ailes in Delaware Chancery Court. — BLOOMBERG NEWS


Marvell bids about $6 billion for Cavium

Marvell Technology has bid about $6 billion for Cavium in a cash-and-stock deal that would create a chip maker to compete with Intel and other giants in the industry. The potential deal extends a long-running consolidation for computer chip producers which are trying to grow so that they can better supply tech leaders like Apple, Google, and Samsung. Last week, Qualcomm rejected an unsolicited, $103 billion buyout from Broadcom, saying the bid was too low. Qualcomm last year said it would buy NXP Semiconductors for $38 billion. That deal remains under regulatory review. Avago Technologies purchased Broadcom for $37 billion in 2016. — ASSOCIATED PRESS



Former treasury security Lew joins NY private equity firm

Former US Treasury secretary Jacob Lew is joining private equity firm Lindsay Goldberg, adding his name to a list of government officials settling in at buyout shops. Lew, 62, will join the New York-based firm as a partner and focus on various investments, institutional relationships, and firm management, according to a statement Monday. He served as Treasury secretary under President Barack Obama from 2013 to 2017 and was previously the White House chief of staff. Both Treasury secretaries and a Central Intelligence Agency director under Obama now work full time in private equity. Timothy Geithner, Lew’s predecessor at Treasury, became president of Warburg Pincus in 2014. General David Petraeus joined KKR & Co. in 2013 to oversee a unit that conducts macro and geopolitical research. — BLOOMBERG NEWS


Confederate Motors changes its name

High-end motorcycle maker Confederate Motors Inc. announced Monday it is changing its name and abandoning internal combustion engines. Starting in January, the Birmingham-based company will be known as Curtiss Motorcycle Co., after aviation and motorcycling pioneer Glenn H. Curtiss. While Confederate motorcycles featured roaring engines and astronomical price tags, the Curtiss brand will feature a series of electric-powered bikes that the company says will ‘‘fit every pocketbook.’’ The company said its first new model, the Hercules, will feature two electric motors made by California’s Zero Motorcycles. It is scheduled to be unveiled in May. The last Confederate-branded motorcycle, the FA-13 Combat Bomber, retails for $155,000. The company didn’t offer an explanation for the name change. The move comes amid a nationwide re-examination of symbols linked to the Civil War-era Confederacy. — ASSOCIATED PRESS