Salem Radio Network News Wednesday, October 5, 2022

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News reports from around the world.

‘So many children dying’: Somalia drought brings famine near

Wed, Oct 5, 2022 at 11:10 am

( ) -q-21- UNDATED (Correspondent Jeremy House) “will fail, too.”

Somalia is in the midst of the worst drought anyone there can remember as more than 1 million residents have fled.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: A rare famine declaration could be made within weeks. Climate change and fallout from the war in Ukraine are in part to blame. Thousands of people have died, many of them children. The drought has astonished herders and farmers by lasting four failed rainy seasons, starting two years ago. The fifth is underway and likely will fail too.

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WTO predicts trade growth to slow next year amid crises

Wed, Oct 5, 2022 at 11:09 am

( ) -q-27- UNDATED (Correspondent Jeremy House) “year in April.”

The World Trade Organization is predicting global trade volumes to grow a lackluster 1% next year.

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TAG: Correspondent Jeremy House reporting. Trade volumes are set to grow just 1% next year, down from the 3.4% expected previously.

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VERBATIM: The Geneva-based trade body says its prediction is based on higher energy prices, rising interest rates and uncertainties about Chinese manufacturing output amid the lingering COVID-19 pandemic. The WTO says the total amount of goods shipped between countries are expected to rise 3.5% this year. That’s up from the 3% that WTO anticipated in its first forecast for the year in April.

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Ian deals blow to Florida’s teetering insurance sector

Wed, Oct 5, 2022 at 11:07 am

( ) -q-19- UNDATED (Correspondent Jeremy House) “homes in Florida.”

Florida’s home insurance market, which was already on shaky ground, now faces an even mightier struggle after the damage caused by Hurricane Ian.

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TAG: Correspondent Jeremy House reporting. The wreckage comes at a time when Florida’s home insurance market was already dealing with billions of dollars in losses and ever-increasing costs from a string of natural disasters, rampant litigation and increasing fraud.

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VERBATIM: Wind and storm-surge losses from the hurricane could reach between 28 and 47 billion dollars. One property analytics firm says that would make Ian Florida’s costliest storm since Hurricane Andrew made landfall in 1992. The firm says the storm destroyed a record number of homes in Florida.

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American Airlines CEO defends JetBlue deal to federal judge

Tue, Oct 4, 2022 at 9:36 am

( ) -q-24- UNDATED (Correspondent Jeremy House) “City-area airports.”

The CEO of American Airlines has defended his airline’s partnership with JetBlue.

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TAG: Correspondent Jeremy House reporting. The Justice Department is trying to convince a federal judge to kill the American-JetBlue partnership, which they say limits competition and will lead to higher prices.

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Robert Isom says there is no other way for American to grow fast enough to compete with Delta and United in the Northeast. Isom testified as the trial in the government’s antitrust lawsuit against American and JetBlue moved into its second week. He says American was at a disadvantage because Delta and United grew earlier through mergers, and they had a bigger presence at New York City-area airports.

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CDC drops traveler health notices for individual countries

Tue, Oct 4, 2022 at 9:34 am

( ) -q-28- UNDATED (Correspondent Jeremy House) “for that country.”

The CDC is doing away with notices about the COVID-19 risk of visiting specific countries.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: The Centers for Disease Control and Prevention says it’s dropping the notices because fewer countries are testing for the virus or reporting the number of COVID-19 cases. That makes it harder for CDC to judge the risk facing travelers. A CDC spokeswoman says the agency will only post a notice for an individual country if a situation such as a troubling new variant of the virus changes CDC travel recommendations for that country.

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Officials: US to send Ukraine more advanced rocket systems

Tue, Oct 4, 2022 at 9:33 am

( ) -q-27- UNDATED (Correspondent Jeremy House) “supply its troops.”

The U.S. will soon deliver to Ukraine four more of the advanced rocket systems credited with helping the country’s military gain momentum in its war with Russia.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: U.S. officials say the High Mobility Artillery Rocket Systems, known as HIMARS (HIGH mars), will be part of a new $625 million package of aid. The decision marks the first time the U.S. has sent more HIMARS to Ukraine since late July, and it will bring the total number delivered so far to 20. The systems have become a key tool in Ukraine’s ability to strike bridges that Russia has used to supply its troops.

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India launches 5G services, Modi calls it step in new era

Mon, Oct 3, 2022 at 9:37 am

( ) -q-27- UNDATED (Correspondent Jeremy House) “in 18 months.”

Prime Minister Narendra Modi has launched 5G services in India, calling it a “step towards the new era.”

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TAG: Correspondent Jeremy House reporting. Research agency OMDIA projects that with 369 million 5G subscriptions – over half the total global 5G subscriptions currently – India will be just behind China and the U.S. in world rankings by 2026.

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VERBATIM: The government says the launch in select cities will cover the entire country over the next couple of years. Bharti Airtel is rolling out its 5G services in eight cities and has set March 2024 as the deadline for countrywide coverage for as many as 5,000 towns. Reliance Jio telecom company plans to start from four metropolitan areas in October and hopes to reach most cities and towns in 18 months.

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Europe faces ‘unprecedented risk’ of gas shortage, IEA says

Mon, Oct 3, 2022 at 9:36 am

( ) -v-36- UNDATED (Correspondent Jeremy House) “std.”

Europe is facing unprecedented risks to its energy supply this winter. Correspondent Jeremy House has more on the story.

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VERBATIM: That’s the word from the International Energy Agency, which says in its quarterly gas report that people will have to save at least 13% over the winter if Russia cuts off the last trickle of gas that’s flowing to Europe. The Paris-based group says only by saving, can Europe avoid a severe shortage if Russian gas halts completely over the war in Ukraine. Europe also could wind up competing with Asian countries for scarce supplies of liquefied natural gas that come by ship. Things will be even tighter if the weather is cold late in the winter…JH reporting.

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TikTok politics: Candidates turn to it ‘for better or worse’

Mon, Oct 3, 2022 at 9:34 am

( ) -q-21- UNDATED (Correspondent Jeremy House) “for the platform.”

As TikTok’s popularity has exploded, young voters are increasingly using the app to learn about politics, elections and issues.

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TAG: Correspondent Jeremy House reporting. The warning is not denting TikTok’s popularity though. TikTok continues to be one of the most downloaded and used sites on the internet.

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VERBATIM: And candidates are taking notice. But while politicians from both parties promote the app as a powerful way to reach young voters, some elected officials urge caution. They say concerns about TikTok’s parent company, its ties to China’s government and its handling of user data should make anyone think carefully before signing up for the platform.

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Europe’s largest economy is sending recession signals

Sun, Oct 2, 2022 at 2:19 pm

Europe’s largest economy is sending recession signals

VERBATIM:

Germany’s key future indicator has dropped for the fourth month in a row as high inflation fed by astronomical natural gas prices undermines consumer pricing power and imposes heavy costs on businesses. The Ifo index dropped to 84.3 in September from 88.5 in August. That is its lowest level since the global financial crisis more than a decade ago.

 

 

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California Governor Gavin Newsom has approved one of the most contentious bills before him this year

Sun, Oct 2, 2022 at 2:17 pm

California Governor Gavin Newsom has approved one of the most contentious bills before him this year

VERBATIM:

It’s a measure aiding efforts by farmworkers to unionize that was backed by President Biden and Vice President Harris. Their support put Newsom in a difficult political position after his office previously criticized the proposal. But Newsom negotiated upcoming changes before signing the bill.

 

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The focus will be on the employment picture, with reports from the government and the private sector due this week:

Sun, Oct 2, 2022 at 2:16 pm

The focus will be on the employment picture, with reports from the government and the private sector due this week:

VERBATIM:

We’ll find out how the job market fared last month when the government releases the September employment report on Friday. Prior to that, payroll processor ADP will issue its closely-watched jobs report Wednesday. Also due this week, updates on the number of job openings and a tally of the number of people who quit their jobs. Reports on construction spending, factory orders and consumer credit are also scheduled for release in the coming week. Rich Thomason reporting.

 

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Japan to pay up to $320M for US company’s chip production

Fri, Sep 30, 2022 at 12:04 pm

( ) -q-27- UNDATED (Correspondent Jeremy House) “the two countries.”

Japan said it is providing a major U.S. chipmaker a subsidy of up to $322 million to back its plan to produce advanced memory chips at a Hiroshima factory.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: The two countries are stepping up cooperation on expanding manufacturing and supply chains for critical materials. Japan’s Economy and Trade Minister said the government approved the Micron Technologies deal under a law related to economic security. The announcement follows U.S. Vice President Kamala Harris’ visit in Japan where she met with Japanese government and semiconductor officials to seek greater cooperation between the two countries.

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‘Big impact’: UK economic chaos, pound plunge hit businesses

Fri, Sep 30, 2022 at 12:03 pm

( ) -q-19- UNDATED (Correspondent Jeremy House) “protect pension funds.”

British Prime Minister Liz Truss and her Treasury chief have met with the independent Office of Budget Responsibility amid efforts to ease concerns about unfunded tax cuts that have unleashed turmoil on financial markets.

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TAG: Correspondent Jeremy House reporting.The chairman of the House of Commons’ Treasury committee said the meeting may be an opportunity for the government to change course.

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VERBATIM: The meeting was significant because it was the government’s failure to publish the OBR’s analysis of its tax-cutting plans that worried investors. The analysis sent the pound to a record low against the dollar earlier this week. It also forced the Bank of England to intervene in the bond market to protect pension funds.

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Unpaid internships face new scrutiny as barriers to careers

Fri, Sep 30, 2022 at 12:01 pm

( ) -q-28- UNDATED (Correspondent Jeremy House) “perpetuating wealth gaps.”

Unpaid internships are facing new scrutiny from colleges, state lawmakers and student activists.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: Nearly half of all internships are unpaid, putting them out of reach for students who need wages to keep up with their bills, even if the work has nothing to do with their intended careers. Many students say they can’t afford to meet internship requirements, and shouldn’t be expected to work unpaid to make it in a given field. The people who can take unpaid internships have financial safety nets, and that means they tend to benefit students who are wealthier and white, perpetuating wealth gaps.

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Resilient US consumers spend slightly more in August

Fri, Sep 30, 2022 at 12:00 pm

( ) -q-26- UNDATED (Correspondent Jeremy House) “of the year.”

Consumers spent a bit more in August than the previous month.

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TAG: Correspondent Jeremy House reporting. Today’s (FRIDAY’S) figures suggest that the economy is showing some resilience despite sharply rising interest rates, violent swings in the stock market, and high inflation.

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VERBATIM: The Commerce Department says Americans boosted their spending at stores and for services such as haircuts by 0.4% in August, after it fell 0.2% in July. The government’s report also showed that an inflation gauge closely monitored by the Federal Reserve rose 0.3% last month, which was faster than July. On Thursday the government confirmed that the economy shrank in the first six months of the year.

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US economy drops at 0.6% annual rate from April through June

Thu, Sep 29, 2022 at 11:27 am

( ) -q-19- UNDATED (Correspondent Jeremy House) “and housing investment.”

Battered by surging consumer prices and rising interest rates, the U.S. economy shrank at a 0.6% annual rate from April through Jun.

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TAG: Correspondent Jeremy House reporting. Most economists, citing a strong and resilient American job market, believe the world’s biggest economy is not yet in a downturn.

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VERBATIM The government announced the figure was unchanged from its previous second-quarter estimate. It marked the second consecutive quarter of economic contraction, one informal rule of thumb for a recession. Consumer spending grew at a 2% annual rate, but that gain was offset by a drop in business inventories and housing investment.

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Fewer people seek US unemployment aid amid solid hiring

Thu, Sep 29, 2022 at 11:25 am

( ) -q-18- UNDATED (Correspondent Jeremy House) “generally reflect layoffs.”

The number of Americans filing for jobless benefits dropped last week, a sign that few companies are cutting jobs despite high inflation and a weak economy.

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TAG: Correspondent Jeremy House reporting. The current figures are very low historically and suggest Americans are benefiting from an unusually high level of job security.

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VERBATIM: The Labor Department says applications for unemployment benefits for the week ending September 24 fell by 16,000 to 193,000. Last week’s number was revised down by 4,000 to 209,000. First-time applications generally reflect layoffs.

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US candidate to lead UN telecoms agency after US-Russia race

Thu, Sep 29, 2022 at 11:24 am

( ) -q-24- UNDATED (Correspondent Jeremy House) “on January first.”

Doreen Bogdan-Martin of the United States has been elected to head the U.N.’s telecommunications agency.

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TAG: Correspondent Jeremy House reporting. Envoys from the 193 member states of the Geneva-based International Telecommunications Union selected Bogdan-Martin over lone rival Rashid Ismailov of Russia at the latest meeting in the Romanian capital of its policy-making body.

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VERBATIM: She won a U.S.-Russia face-off for the leadership of a key global agency that sets guideposts for radio, internet and television communications. The result ended a race that has been overshadowed by geopolitics in the wake of Russia’s war in Ukraine. Bogdan-Martin will take over as the ITU secretary-general for a four-year term on January first.

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Rohingya seek reparations from Facebook for role in massacre

Thu, Sep 29, 2022 at 11:23 am

( ) -v-36- UNDATED (Correspondent Jeremy House) “std.”

For years, Facebook, now called Meta, has pushed the narrative that it was a neutral platform in Myanmar that was misused by malicious people and failed to moderate violent and hateful material adequately. Correspondent Jeremy House has more on the story.

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VERBATIM: A new report by Amnesty International however, says Facebook was not merely a passive site with insufficient content moderation. Rather, Meta’s algorithms “proactively amplified” material that incited violent hatred against the Rohingya beginning as early as 2012. Amnesty found that despite years of warnings, the company not only failed to remove violent hate speech and disinformation against the Rohingya – it actively spread and amplified it until it culminated in the 2017 massacre…JH reporting.

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Taiwan to end quarantine for arrivals starting Oct. 13

Thu, Sep 29, 2022 at 11:21 am

( ) -q-25- UNDATED (Correspondent Jeremy House) “of the pandemic.”

Taiwan says it will end mandatory COVID-19 quarantines for people arriving from overseas beginning October 13.

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TAG: Correspondent Jeremy House reporting. In recent months, it has relaxed its measures and currently requires travelers to isolate in a hotel for three days, followed by four days at a private residence.

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VERBATIM: The Central Epidemic Command Center has announced that the previous weeklong requirement will be replaced with a seven-day self-monitoring period. A rapid antigen test will still be required upon arrival, but those showing no symptoms will be allowed to take public transportation. Taiwan has been one of the few places in the world that has held on to a quarantine for all arrivals throughout the course of the pandemic.

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Millions of Americans will save on Medicare fees next year

Wed, Sep 28, 2022 at 10:14 am

( ) -q-29- UNDATED (Correspondent Jeremy House) “Ukraine invasion began.”

Facebook says it has identified and stopped a sprawling network of fake accounts that spread Russian propaganda about the invasion of Ukraine throughout Western Europe.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: Facebook parent company Meta says the network created more than 60 websites that mimicked legitimate news organizations but parroted Russian talking points about Ukraine. More than 1,600 fake Facebook accounts were used to spread the propaganda to audiences in Germany, Italy, France, the United Kingdom and Ukraine. Meta says it was the largest and most complex network linked to Russia that the California-based company has identified since the Ukraine invasion began.

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Meta disables Russian propaganda network targeting Europe

Wed, Sep 28, 2022 at 10:13 am

( ) -q-29- UNDATED (Correspondent Jeremy House) “Ukraine invasion began.”

Facebook says it has identified and stopped a sprawling network of fake accounts that spread Russian propaganda about the invasion of Ukraine throughout Western Europe.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: Facebook parent company Meta says the network created more than 60 websites that mimicked legitimate news organizations but parroted Russian talking points about Ukraine. More than 1,600 fake Facebook accounts were used to spread the propaganda to audiences in Germany, Italy, France, the United Kingdom and Ukraine. Meta says it was the largest and most complex network linked to Russia that the California-based company has identified since the Ukraine invasion began.

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In court brief, Musk says the SEC is unlawfully muzzling him

Wed, Sep 28, 2022 at 10:11 am

( ) -q-22- UNDATED (Correspondent Jeremy House) “investigations and prosecution.”

A lawyer for Tesla CEO Elon Musk says in court documents that U.S. Securities regulators are unlawfully muzzling his client.

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TAG: Correspondent Jeremy House reporting. Under the settlement, Musk and Tesla each agreed to pay $20 million in civil fines over Musk’s tweets about having the “funding secured” to take Tesla private at $420 per share. The agreement requires Musk to get tweets about the company approved by a lawyer before they are posted.

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VERBATIM: In a legal brief appealing a lower court’s decision, the lawyer accuses the Securities and Exchange Commission of violating Musk’s free speech rights. He contends in a brief that the SEC is continually trying to enforce the 2018 securities fraud settlement. The agency is chilling Musk’s speech with the threat of investigations and prosecution.

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Gary Varvel
Fri, Sep 30, 2022

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