The Biden camp is scrambling to finalize new business regulations, including rules affecting ticket sellers, automakers and banks.

Why it matters: With barely over a month to go before leaving office, the administration is aiming to follow through on a litany of policy promises.

The latest: A rule banning junk fees was finalized today after a 4-1 vote by the FTC.

• A rule finalized yesterday by the National Highway Traffic Safety Administration requires automakers to implement a new back-seat seat belt warning system by September 2027, and to strengthen front-seat warnings.
• And the Consumer Financial Protection Bureau last week finalized a new rule capping overdraft fees at large banks.

And don't chalk this up to procrastination. Through October 2024 — meaning before this lame-duck session of rules — the Biden administration had published 292 "economically significant" rules, according to George Washington University's Regulatory Studies Center.

What we're watching: That's a large number facing the incoming Trump administration, which has promised to roll back many of the rules implemented over the last four years.

• And Elon Musk and Vivek Ramaswamy — co-leaders of Trump's informal Department of Government Efficiency advisory — have said they plan to nullify "thousands" of federal regulations, Axios Markets co-author Emily Peck has noted.

Yes, but: Some of the new rules are popular.

• For example, today's junk fees ban — which forces companies to disclose previously hidden fees upfront when consumers are making purchase decisions — has "overwhelming, bipartisan support," according to pollster Morning Consult.

The bottom line: Once new rules are finalized, it becomes politically complicated to reverse them — but that doesn't mean the Trump administration won't try.

Nvidia shares have entered correction territory, but investors shouldn't panic just yet. They're still up nearly 170% on the year.

Why it matters: Nvidia has morphed into one of the most crucial stocks on the market as its momentum reflects the health of the AI economy.

By the numbers: The stock closed today at $130.39, down over 14% from its intraday high on Nov. 21.

• A correction is defined as a 10% drop from a recent high.

What they're saying: Analysts are still largely positive on the stock, though some investors are waiting to see the company ramp up production of its new Blackwell chips, Barron's notes.

🚘 Honda Motor and Nissan Motor are reportedly preparing potential merger talks. (CNBC)

🇯🇵 Waymo will begin testing its self-driving vehicles in Tokyo in 2025. (CNBC)

🇨🇩 The Democratic Republic of Congo is suing Apple over accusations that the company "pillaged" minerals for its supply chain. (Bloomberg)

U.S. retail sales increased at a decent pace in November, according to government data out this morning.

• Sales rose 0.7% in the month, a pickup from the upwardly revised 0.5% increase in October.

Yes, but: Much of the activity was concentrated in a single category: cars, Axios' Courtenay Brown noted this morning. Spending at auto dealers surged almost 3% in November alone, following a 2% increase the previous month.

• Read more from Courtenay here.

What we're watching: The Fed's rate decision is tomorrow.

First came fries, now come chicken nuggets at Taco Bell, which is looking more and more like the Golden Arches these days.

State of play: The Yum Brands fast-food brand is debuting Crispy Chicken Nuggets beginning tomorrow, taking a page out of the menus of its burger chain rivals.

• Yet even with nuggets, the chain is living a little más. 🌶️

Zoom in: The all-white-meat nuggets are "marinated in zesty jalapeño buttermilk flavor and breaded with a blend of breadcrumbs and crunchy tortilla chips," Taco Bell says.

• They'll come with Hidden Valley Fire Ranch Sauce, a new "signature" Bell sauce or Jalapeño Honey Mustard.
• Taco Bell set a price of $3.99 for a five-piece order with one dipping sauce.

Caveat: Like the chain's here-today-gone-tomorrow Nacho Fries, the Crispy Chicken Nuggets will be available nationwide for a limited time after successful tests in Minneapolis and Houston.

💭 Nathan's thought bubble: This sounds like the latest example of menu innovation that has kept Taco Bell one step ahead of its fast-food competition for several years.