--:-- John Bickley: The APEC Summit in San Francisco will come to a close on Friday. The highlight of the event was a visit from China's President Xi Jinping.
--:-- Georgia Howe: Business leaders, including Elon Musk and Pfizer's Albert Bourla, paid $2,000 to attend a dinner with Xi. But according to CNBC, a seat at Xi's table cost $40,000. His table mates included BlackRock's Larry Fink and Bridgestone's billionaire Ray Dalio.
--:-- John Bickley: Many of the business leaders were disappointed that Xi did not mention trade or investment in China. China's economy has not recovered from the COVID lockdowns, and according to the Wall Street Journal, U.S. corporations have withdrawn as much as $160 billion in investment in the communist country.
--:-- Georgia Howe: Expectations for the meeting were very low, and I think both sides met those expectations. And you're absolutely right. Tensions have been reduced. There's a little bit better tone coming out of China, and certainly President Xi Jinping is trying to charm the business community that's gathered here and also the leaders in the 21 economies here at APAC.
--:-- John Bickley: But my sense is that while it's good news that we have de-escalation in relations, it is unlikely to last given everything that's ahead for us in 2024.
--:-- Georgia Howe: Business leaders did applaud when Xi told the audience that the giant pandas which were returned to China from the D National Zoo may be sent back to the U to the San Diego Zoo. Loaning the U the giant pandas, which are native to China, has always been seen as a gesture of friendship between the two nations.
--:-- John Bickley: Americans are more afraid for their personal safety than they've been in the last 30 years. According to a poll by Gallup, 40 percent of those surveyed say they are afraid to walk alone at night within a mile of their own home.
--:-- Georgia Howe: Half of Americans worry about having their cars stolen or broken into. 37% are afraid of being mugged and 30% worry they'll be a victim of a hate crime. The last time these numbers were so high was back in 1982 when New York City was experiencing high murder rates.
--:-- John Bickley: The massive influx of migrants into New York City has led Mayor Eric Adams to announce a 5% across the board budget cut.
--:-- Georgia Howe: Make no mistake, we are not out of the woods. We added billions of dollars to care for the migrants. COVID funding is sunsetting and we must close a $7 billion budget gap in the coming fiscal year. And if circumstances don't change dramatically city agencies will be forced to reduce city funding spending by 5 two more times within the next six months.
--:-- John Bickley: The most concerning cut is to the NYPD. The budget cut will leave the city with fewer than 29 uniformed cops, the lowest number since the 1990s.
--:-- Georgia Howe: The biggest counterfeit bust ever took place in New York City this week. New York police, along with Department of Homeland Security, uncovered more than $1 billion worth of faux designer handbags, clothes and shoes in a storage unit. The black market operation was run by two men who now face up to 10 years in prison.
--:-- John Bickley: Union workers at General Motors voted to ratify a new contract on Thursday by a very slim margin. The vote totals are still unofficial, but the contract includes a large wage increase and other benefits. The UAW has now reached deals with all three of the big automakers, GM, Ford, and Stellantis. The wage increase will go from $32 an hour up to $40.
--:-- Georgia Howe: In other auto news, Hyundai announced it will be the first automaker to sell new cars on Amazon starting in 2024.
--:-- John Bickley: Anheuser-Busch's chief marketing officer is resigning at the end of the year. Benoit Garb held the top marketing post for two years. During his tenure, Bud Light saw a massive slump in sales and lost its title as the top-selling U.S. beer to Mexican brand Modelo.
--:-- Georgia Howe: The loss has come after Bud Light paid transgender influencer Dylan Mulvaney to promote the brand.
--:-- John Bickley: The Oakland A move to Las Vegas has taken a big step forward after all Major League Baseball teams unanimously approved the action Thursday.
--:-- Georgia Howe: Crane & Company co-host David Cohn has more. Approval of this move required a 75% vote of the 30 Major League Baseball teams, which was endorsed by Baseball Commissioner Rob Manfred. This comes after years of complaints regarding the Oakland Coliseum and failure to negotiate finances for a new Bay Area ballpark.
--:-- John Bickley: So the A's plan to move to the Las Vegas Strip, where they'll receive $380 million in public financing approved by the Nevada government. While the move isn't final yet, the Athletics plan to remain in Oakland through the end of their lease at the Coliseum, which runs through 2024.
--:-- Georgia Howe: In more baseball news, the city of Atlanta has been named the host city of the 2025 All-Star Game. The announcement comes after the game was pulled from the city in 2021 after Democrats claimed the state's new voter laws were discriminatory.
--:-- John Bickley: Those are your drive home updates this afternoon. To learn more about these stories, go to dailywire.com. And for more in-depth discussion of the biggest stories of the day, listen to the latest full episode of Morning Wire every morning. Thank you.
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