January 14

In 1954, the Hudson Motor Car Company merged with Nash-Kelvinator Corporation to form American Motors Corporation, reshaping the U.S. automobile industry. The merger combined Hudson's engineering expertise with Nash's financial stability and Kelvinator's refrigeration technology. American Motors sought to compete with the Big Three automakers by focusing on compact cars and innovative design. Under the leadership of George W. Mason, AMC introduced models like the Rambler, which found success in the late 1950s and early 1960s. The new corporation aimed to streamline operations, reduce costs, and expand its market reach. The AMC merger represented a significant consolidation in the postwar automotive sector.

The Reserve Bank of Australia was established on January 14, 1960, as the nation's central bank and banknote issuing authority. Created under the Reserve Bank Act of 1959, it separated central banking functions from the Commonwealth Bank. The new institution took responsibility for monetary policy, financial stability, and issuing currency. The bank's formation aimed to modernize Australia's financial system and support economic growth. Over time, the Reserve Bank of Australia has played a key role in managing inflation, interest rates, and the country's response to global financial crises. Its establishment marked a landmark moment in the evolution of Australia's economic governance.