Emergency U.N. Security Council meeting to discuss N.Korea

The United States has scheduled an emergency meeting of the U-N Security Council following North Korea’s latest ballistic missile test. So far this year, North Korea has launched missiles 15 times, including the latest test on Saturday. The U-S is pressing for new sanctions against the communist North. However, the resolution faces an uphill struggle because Russia and China, which have veto power in the council, do not support increased sanctions.

Fed says war and inflation has replaced COVID as econ threat

The Federal Reserve no longer views the coronavirus pandemic as the biggest threat to the global financial system. Instead, the central bank now is pointing to Russia’s war in Ukraine and surging inflation as being the most problematic. In its semiannual Financial Stability Report, the Fed says economic uncertainty is on the rise since the start of the war and with inflation reaching its highest level in four decades. Higher mortgage rates could also hurt the housing industry.

Vandals strike pro-life office in Wisconsin

EU believes Apple limiting access to rivals to its mobile payment system

The European Union says it believes Apple has abused its dominant position by limiting access to rivals to its mobile payment system Apple Pay

The E-U’s executive arm has been investigating the technology company since 20-20. The European Commission’s preliminary view is that Apple is restricting competition by preventing mobile wallets app developers from accessing the necessary hardware and software on its devices. The commission says the practice “has an exclusionary effect on competitors and leads to less innovation and less choice for consumers for mobile wallets on iPhones.”

Iowa requires gas stations to sell fuel with at least 15% ethanol

Iowa becomes the first U.S. state to require that gas stations have pumps selling fuel with at least 15% ethanol

VERBATIM: Governor Kim Reynolds proposed the bill that will boost corn growers and the ethanol industry. Ethanol production consumes roughly half the state’s corn crop, and Iowa leads the nation in corn and ethanol production. Most gas sold in nationwide is blended with 10% ethanol.

Southern California residents face outdoor watering restrictions

Southern California’s gigantic water supplier has taken the unprecedented step of requiring about six-million people to cut their outdoor watering to one day a week

VERBATIM: The board of the Metropolitan Water District of Southern California has declared a water shortage emergency. It’s requiring the 26 water agencies it supplies to implement the cutback on June 1 and enforce it or face hefty fines. The MWD relies on water from the Colorado River and the State Water Project to supply 40% of the state population. But the State Water Project expects to provide only 5% of its usual allocation.

Fair housing advocates resolve lawsuit against Redfin

Fair housing advocates have announced a settlement to resolve a lawsuit against real estate brokerage Redfin.

This settlement wll expand housing opportunities for consumers in communities of color.

Under the agreement announced Friday, Seattle-based Redfin will change its minimum housing price policy and change other practices,.

The settlement will also pay $4 million dollars to settle the suit.

The National Fair Housing Alliance and nine other fair housing groups filed the lawsuit.

Econ this week: employment update for April, plus a news briefing by Fed chairman

This week’s economic calendar includes an update on the employment picture for April, along with a news briefing by the Federal Reserve chairman

VERBATIM:

Fed chair Jerome Powell’s mid-week news conference will no doubt get plenty of attention, as the markets look for clues on interest rates and the central bank’s inflation fighting strategy. Also Wednesday, payroll processor ADP will release its closely watched employment report. The government’s jobs report is due for release on Friday. The coming week will also see updates on consumer credit, factory orders and construction spending. Rich Thomason reporting.

The U.S. Army is providing back-up rescue equipment at the site of America’s tallest mountain peak

The U.S. Army is providing back-up rescue equipment at the site of America’s tallest mountain peak

VERBATIM:

To support the National Park Service, a company from the Army’s 52nd Aviation Regiment at Fort Wainwright has flown two CH-47F helicopters to a lower base camp on a glacier at the foot of Mount Denali in Alaska. A second camp will be set up at 14,000 feet. They’re available for the estimated 1000 climbers who attempt to scale the 20,000 foot summit. Almost half don’t make it. In those instances, the National Park Serive has its own smaller helicopter. This year, the larger Chinook’s are on site if needed for high elevation rescue and transport. GW reporting.

The Justice Department is weighing in against an Alabama law which prohibits sex-change treatments for those under age 19

The Justice Department is weighing in against an Alabama law which prohibits sex-change treatments for those under age 19

VERBATIM:

The department filed a motion that intervenes in an existing lawsuit which seeks to block the law from taking effect on May 8th. The action comes after DOJ sent a letter to all 50 states warning that such laws could be unconstituitional. The Alabama law makes it a felony for doctors to treat youth with puberty-blockers and hormones. Alabama’s Attorney General issued a statement in response saying (quote) the “Biden Administration has chosen to prioritize leftist politics at the expense of Alabama’s children,” and is vowing to protect them.
George Williams reporting.

Housing among economic reports due for release this week

Economic reports due for release this week will include an update on the housing market, along with a couple of reports focusing on the mindset of American consumers

VERBATIM:

Things get rolling Tuesday, with release of the Conference Board’s closely-watched Consumer Confidence Index for April. There will also be a government report on new home sales in March. And we’ll get a look at last month’s orders for big ticket, durable goods. Wednesday will bring a report on pending home sales, followed by the weekly employment report on Thursday. The University of Michigan’s Consumer Sentiment Index is due for release Friday, along with information on consumer spending in March. Rich Thomason reporting.

Housing takes center stage in this week’s flurry of reports on the U.S. economy

The housing market takes center stage in this week’s flurry of reports on the U.S. economy

VERBATIM:

Things kick-off on Monday with look at residential construction. The National Association of Homebuilders releases its home builders index. Then on Tuesday, reports on building permits and housing starts. Wednesday will see an update on existing home sales — a look at March activity, along with release of the Federal Reserve’s Beige Book. The Conference Board’s Index of Leading Economic Indicators comes out on Thursday, a key gauge that’s used to forecast future economic activity. Rich Thomason reporting.

Delta Air Lines lost $940 million in the first quarter, yet bookings are rebounding

Delta Air Lines lost $940 million in the first quarter, yet bookings surged in recent weeks

VERBATIM:

The increase in bookings sets up a breakout summer as Americans try to get past the coronavirus pandemic. And while revenue for the quarter was surprisingly strong, the Atlanta airline faces stiff headwinds, including a sharp rise in fuel and labor costs. CEO Ed Bastian says bookings in the last five weeks have set a record, which he thinks shows that American are done with the pandemic.

Florida governor signs 15-week abortion ban into law

Musk offers to buy Twitter for $43B to promote free speech

Vietnamese automaker to build electric vehicle plant in NC

A Vietnamese automaker is planning to build a plant in North Carolina to manufacture electric vehicles, promising to bring 7,500 jobs

VERBATIM:

VinFast says it will build its first North American plant in Chatham County southwest of Raleigh, with production expected to start in 2024. It expects to employ 7,500 by 2027. The company is building on a nearly 2,000-acre site that’s about a 30-minute drive southwest of Raleigh and is expected to invest $4 billion in the plant. The state agreed to hundreds of millions of dollars in incentives.

A fairly quiet week ahead when it comes to reports on the U-S economy

A fairly quiet week ahead when it comes to reports on the U-S economy

VERBATIM:

Perhaps the highlight of the week will come Wednesday, with release of the minutes of the latest meeting of the Federal Reserve’s policy making body, the 12-member Federal Open Market Committee. Charged with managing the nation’s money supply, the minutes could provide a clearer picture of the Committee’s view of interest rates — and where they might be headed. The weekly jobs report due for release Thursday, along with word on consumer credit. Also this week — a look at factory orders. That will come on Monday. Rich Thomason reporting.

The jobs picture comes into clearer focus this week

The jobs picture comes into clearer focus this week

VERBATIM: Payroll processor ADP releases its March employment report Wednesday, to be followed on Friday by the official government report for March. The February unemployment rate stood at three-point-eight percent. The March Consumer Confidence Index is due Tuesday. That report is of interest because of the major role consumers play in the health of the U.S. economy. Data on construction spending, manufacturing activity and housing prices also scheduled for release in the coming week. Rich Thomason reporting.

EPA names part of Hackensack River in NJ to list of Superfund sites

The U.S. Environmental Protection Agency named a 19-mile stretch of the Hackensack River in northern New Jersey to its list of Superfund sites

VERBATIM:

The announcement stems from assessments that showed arsenic and lead among other contaminants in sediment in the riverbed. EPA Region 2 Administrator Lisa Garcia says the listing is good news because it means that the river will now get cleaned up. Still unidentified responsible parties are expected to finance the clean up, which could take years.

This week will bring an update on how the housing market is faring

This week will bring an update on how the housing market is faring

VERBATIM:

The latest report on new home sales is due Wednesday, providing a seasonally-adjusted look at February’s activity. On Friday, it’s word on pending home sales. The National Association of Business Economics will hear from Federal Reserve chairman Jerome Powell on Monday. He may provide insight into the Central Bank’s interest rate strategy in light of its recent announcement of a rate hike. And on Thursday, it’s the weekly unemployment report; a look at the number of claims filed and the number of continuing claims. Rich Thomason reporting.

Home prices and other economic reports due out this week

How are home prices faring? And what about new home sales! We’ll get a fresh look at those — and other key economic indicators — this week

VERBATIM:

Tuesday will see release of the S&P Case-Shiller home price index, offering a picture of the year-over-year change in home prices. Also on Tuesday, an update on consumer confidence. A widely-watched report, since consumer spending plays such a pivotal role in U.S. economic activity. On Thursday, word on weekly jobless claims along with continuing claims. And there will be a read out on new home sales. The week wraps on with a core inflation report due for release on Friday. Rich Thomason reporting.

A federal labor board said that Amazon workers in a facility in Bessemer, Alabama will vote by mail next month in a re-run election to decide whether or not to unionize

A federal labor board said that Amazon workers in a facility in Bessemer, Alabama will vote by mail next month in a re-run election to decide whether or not to unionize

VERBATIM:

The National Labor Relations Board says the ballots will be mailed out February 4 and must be returned before the counting starts on March 28. The move comes roughly a month and a half after the board ordered a new union election for Amazon workers. That order was based on objections by the Retail, Wholesale and Department Store Union to the first vote that took place in April.

Princess Cruises has pleaded guilty to violating its probation related to previous environmental crimes

Princess Cruises has pleaded guilty to violating its probation related to previous environmental crimes

VERBATIM:

Court records show the company must pay a $1 million criminal fine and undertake remedial measures to ensure that it and its parent company, Carnival Corporation, establish and maintain an independent internal investigative office. Princess was fined $40 million in 2017 after pleading guilty to felony charges stemming from its deliberate dumping of oil-contaminated waste from one of its vessels and intentional acts to cover it up. Princess was convicted of six probation violations in 2019 and fined an additional $20 million…JH reporting.

U.S. Postal Service 2021 holiday deliveries improve

The U-S Postal Service avoided a repeat of the 2020 holiday shipping disaster. Unlike a year ago when there massive shipping delays, 2021 holiday season deliveries went smoothly for the most part. ShipMatrix, which analyzes shipping package data, reports that 97 percent of the Postal Service’s shipments were on time during a two-week period in December. A company spokesman says shippers were better prepared, and they were aided by a trend toward more people shopping in stores instead of ordering online.