Business Digest 112024

Nvidia rivals chasing AI chip market

SANTA CLARA, Calif. — Building the current crop of artificial intelligence chatbots has relied on specialized computer chips pioneered by Nvidia, which dominates the AI market. But the same qualities that make those graphics processor chips, or GPUs, so effective at creating powerful AI systems from scratch make them less efficient at putting AI products to work. That's opened up the AI chip industry to rivals who think they can compete with Nvidia in selling so-called AI inference chips that are more attuned to the day-to-day running of AI tools and designed to reduce some of the huge computing costs of generative AI.

Panel urges toughening up US-China trade

WASHNGTON — In its annual report to Congress released Tuesday, the U.S.-China Economic and Security Review Commission recommended that the U.S. toughen its trade relationship with Beijing. That would roll back a nearly 25-year-old decision that helped bring about China's rapid economic growth but that many in Washington now see as hurting U.S. interests.

Dr. Oz picked to run Medicare, Medicaid

WASHINGTON — President-elect Donald Trump says he is nominating Dr. Mehmet Oz, who hosted a long-running television talk show, to lead the Centers for Medicare and Medicaid Services. Oz, who ran a failed bid to represent Pennsylvania in the U.S. Senate, has been an outspoken supporter of Trump and in recent days expressed support for Robert F. Kennedy, Jr.'s nomination to lead Health and Human Services.

Reuters taps Sally Buzbee to lead US, Canada operations

NEW YORK — Reuters has hired Sally Buzbee, former executive editor of the Washington Post and Associated Press, to be its top news editor in the United States and Canada. Buzbee left the Post in June rather than carry out a new publisher's reorganization plan that would have effectively demoted her. She led the Associated Press' news operation before leaving for the Post in 2021. A longtime AP editor, she had run the outlet's Washington bureau before becoming senior vice president and executive editor in 2017.

German police break up protest camp

BERLIN — German police have broken up a protest camp housing environmental activists in a forest near the Tesla electric car factory outside Berlin, citing violations of public safety and order. The protesters had occupied the forest since the end of February over concerns about water and deforestation. Police eventually pulled six activists out of tree houses after they refused to leave and instead climbed high up some of the trees.

Planning is key when closing a small biz

NEW YORK — Figuring out what to do with a small business when an owner is ready to retire can be difficult, but it's best to have a plan well in advance of making a big change. Most people in the U.S. retire in their 60s, and about 51% of small business owners over the age of 55, according to the U.S. Census. The most common options include creating a succession plan for a family member or someone already involved in the business, selling the business to an outsider or simply winding down the business and shuttering it.