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Israeli startup ree automotive signs major licensing deal for self-driving vehicles
Israeli automotive startup Ree Automotive has announced a preliminary licensing agreement that could yield up to $770 million by 2030 with an undisclosed mobility solutions company. The deal involves licensing Ree's platform for self-driving passenger vehicles, with production slated to begin in 2027. This agreement is expected to significantly increase Ree's order backlog and enhance profitability through a focus on software and services rather than traditional manufacturing.
Jobs Report Anticipated to Show Significant Payroll Increase Amid Economic Uncertainty
An upcoming jobs report is expected to show a significant increase in nonfarm payrolls for November, with projections of 214,000 new jobs, rebounding from October's low of 12,000 due to disruptions from storms and strikes. The report will be crucial for the Federal Reserve ahead of its policy meeting, as it navigates between inflation concerns and employment stability. The unemployment rate is anticipated to rise to 4.2%, while average hourly earnings are expected to increase by 0.3% monthly and 3.9% annually.
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