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News reports from around the world.
Fewer Americans apply for jobless benefits as layoffs remain rare
( ) -q-18- UNDATED (Correspondent Jeremy House) “to 211-thousand.”
U.S. applications for unemployment benefits inched up modestly this week after reaching their lowest level in eight months the previous week.
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TAG: Correspondent Jeremy House reporting.
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VERBATIM: The Labor Department reports that filings for jobless claims rose by 2,000 to 204,000 for the week ending September 23. Last week’s figure was the lowest since January. The four-week moving average of claims, which quiets some of the week-to-week noise, fell by 6,250 to 211,000.
UAW to announce plans on Friday to expand strike in contract dispute
( ) -q-23- UNDATED (Correspondent Jeremy House) “union were progressing.”
The United Auto Workers union says it will announce on Friday how it plans to expand its strike against Detroit’s three automakers.
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TAG: Correspondent Jeremy House reporting. The UAW says union President Shawn Fain will make the announcement at 10 a.m. Eastern time in a video appearance addressing union members.
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VERBATIM: The union went on strike Sept. 14 when it couldn’t reach agreements on new contracts with Ford, General Motors and Jeep maker Stellantis. At first it targeted one assembly plant from each company, and last week it added 38 parts distribution centers run by GM and Stellantis. Ford was spared the second escalation because talks with the union were progressing.
Apple leverages idea of switching to Bing to pry more money out of Google
( ) -v-33- WASHINGTON (Correspondent Jeremy House) “std.”
A Microsoft executive says Apple gets Google to pay more to be the default search engine on iPhones and Macs by dangling the idea of switching its devices to Bing’s search engine. Correspondent Jeremy House has more on the story.
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VERBATIM: Microsoft’s advertising and web services chief testified in court that Apple’s strategy translates into it making more money leveraging Bing than Bing makes off its own business. Analysts estimate Apple collects up to $20 billion a year in revenue-sharing payments from Google. U.S. antitrust prosecutors are accusing Google of using agreements with companies like Apple to lock out rival search engines such as Microsoft’s Bing and Yahoo. They say the arrangements stifle innovation…JH, Washington.
Production at German VW plants resumes after IT disruption
( ) -q-21- UNDATED (Correspondent Jeremy House) “for the disruption.”
Volkswagen says production is resuming after a problem with the German automaker’s information technology network caused a severe disruption.
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TAG: Correspondent Jeremy House reporting.
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VERBATIM: Volkswagen says the IT disruption caused production to halt at its four vehicle manufacturing plants in Germany. It also affected some other facilities, including at subsidiary Audi. The company says the IT infrastructure problems were resolved during the night and production was resuming. It said there were no indications of any external cause for the disruption.
China and Taiwan are at odds over a trade pact involving Australia
( ) -q-22- UNDATED (Correspondent Jeremy House) “as its territory.”
China’s government has accused Taiwan’s ruling party of seeking independence.
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TAG: The two nations split during the civil war that brought the Communists to power in China in 1949, with the losing Nationalists setting up their own government in Taiwan.
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VERBATIM: The accudation comes a day after the Taiwan’s president lobbied for Australia’s support in joining a regional trade pact. China’s Taiwan Affairs Office also said that recent Chinese military drills around Taiwan were held to combat what it called “the arrogance of Taiwan independence separatist forces.” China claims the island of Taiwan as its territory.
Medicare open enrollment begins next month
( ) -q-21- UNDATED (Correspondent Jeremy House) “poor plan selection.”
Only 3 in 10 Medicare beneficiaries shop around during open enrollment
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TAG: Correspondent Jeremy House reporting. Medicare open enrollment is October 15 to December 7, giving people with Medicare a chance to change plans.
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VERBATIM: That’s according to a 2022 analysis, which also shows that only 1 in 10 Medicare Advantage enrollees voluntarily switch plans. But a 2020 analysis of Medicare Advantage plan choices found that more than half of beneficiaries overspent by more than $1,000 due to poor plan selection.
A Meta conference focuses on artificial intelligence
( ) -q-18- UNDATED (Correspondent Jeremy House) “with TikTok continues.”
Meta CEO Mark Zuckerberg is kicking off the tech giant’s Connect developer conference, with a focus on virtual and augmented reality and artificial intelligence.
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TAG: Correspondent Jeremy House reporting.
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VERBATIM: The company is unveiling the next version of its virtual reality headset. It’s called the Quest 3. Participants will discuss AI chatbots and other tools and features designed to keep users interested in Facebook and Instagram as competition with TikTok continues.
Alibaba will spin off its logistics arm Cainiao in an IPO in Hong Kong
( ) -q-21- UNDATED (Correspondent Jeremy House) “as a subsidiary.”
Chinese e-commerce company Alibaba says it will spin off its logistics arm, Cainiao (CHAN yow) Smart Logistics Network, in an initial public offering in Hong Kong.
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TAG: Correspondent Jeremy House reporting. Alibaba currently owns nearly a 70% stake in Cainiao, its main delivery arm that handles logistics and parcels for merchants both in China and abroad.
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VERBATIM: It’s the first business unit to go public following a major restructuring in Alibaba. The company said that it submitted a spin-off proposal to the Hong Kong Stock Exchange and that it has received confirmation to proceed. Alibaba will continue to me a majority shareholder in Cainiao, holding over 50% of the company and retaining it as a subsidiary.
London’s Gatwick Airport limits flights this week due to staff illness, including COVID-19
( ) -q-25- UNDATED (Correspondent Jeremy House) “back to normal.”
London’s second-busiest airport is limiting flights this week, partly because of an outbreak of COVID-19 within air traffic control.
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TAG: Correspondent Jeremy House reporting. The largest number of cancellations will be on Friday, Sept. 29, with 33 departures affected.
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VERBATIM: Gatwick Airport officials say a daily limit of 800 flights has been imposed until Sunday, affecting both departures and arrivals. Gatwick says around 30% of staff in the division within air traffic control are off sick for a variety of reasons, including COVID-19. It says the daily cap will prevent last-minute cancellations and delays for passengers while National Air Traffic Services gets back to normal.
New cars are supposed to be getting safer. So why are fatalities on the rise?
( ) -q-23- UNDATED (Correspondent Jeremy House) “injury or death.”
Government test data shows new passenger vehicles in the U.S. are extremely safe, but roadway deaths are steadily rising.
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TAG: Correspondent Jeremy House reporting. U.S. safety ratings only consider the safety of people inside a vehicle. But a coalition of transportation safety groups wants the National Highway Traffic Safety Administration to begin factoring the safety of those outside vehicles into its 5-star safety ratings.
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VERBATIM: Some of the biggest increases are deaths of pedestrians and cyclists. That surge has coincided with a steep rise in sales of SUVs and pickup trucks. Experts say the height and boxy front ends of many of those vehicles create large blind spots. They also hit pedestrians higher in the body than sedans, meaning hits more often result in serious injury or death.
Biden administration announces $1.4 billion rail safety plan
( ) -q-25- UNDATED (Correspondent Jeremy House) “paid by consumers.”
The European Union’s executive arm is blocking leading U.S. online travel agency Booking from acquiring Sweden’s flight booking provider Etraveli (EE trah vel eye) Group.
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TAG: Correspondent Jeremy House reporting. Booking’s brands include Booking.com, Rentalcars, Priceline and Agoda.
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VERBATIM: The European Commisson says the deal would have allowed Booking to increase its dominant position on the market on the continent. The Commission says it warned Booking Holdings about its concerns, but that the remedies offered by the company were not sufficient. An investigation by the Commission found out the proposed 1.8 billion dollar deal would have led to higher costs for hotels, and possibly, a negative impact on the price paid by consumers.
EU Commission blocks Booking’s planned acquisition of Etraveli
( ) -q-25- UNDATED (Correspondent Jeremy House) “paid by consumers.”
The European Union’s executive arm is blocking leading U.S. online travel agency Booking from acquiring Sweden’s flight booking provider Etraveli (EE trah vel eye) Group.
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TAG: Correspondent Jeremy House reporting. Booking’s brands include Booking.com, Rentalcars, Priceline and Agoda.
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VERBATIM: The European Commisson says the deal would have allowed Booking to increase its dominant position on the market on the continent. The Commission says it warned Booking Holdings about its concerns, but that the remedies offered by the company were not sufficient. An investigation by the Commission found out the proposed 1.8 billion dollar deal would have led to higher costs for hotels, and possibly, a negative impact on the price paid by consumers.
Rising oil prices are pushing U.S. gas prices higher, helping Russia’s war
( ) -q-25- UNDATED (Correspondent Jeremy House) “means higher prices.”
Oil prices are up, and that affects people far and wide.
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TAG: Correspondent Jeremy House reporting. Some analysts believe oil could hit $100, while others foresee that mediocre growth in major economies like China will keep the lid on prices.
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VERBATIM: Drivers pay more for gasoline, and truckers more for diesel. Russia is earning money that it can use to wage its war against Ukraine. Central bankers may see more inflation coming and keep interest rates high. Behind the recent bump in price is Saudi Arabia’s decision to slash how much oil it sends to global markets through the end of the year. Russia also is cutting back. And less supply means higher prices.
Southwest governors pursue stronger business ties with Taiwan
Governors from the Southwestern United States are pursuing stronger business ties with Taiwan
VERBATIM:
Trade missions took New Mexico Governor Michelle Lujan Grisham and Arizona counterpart Katie Hobbs to the self-governing island of Taiwan. At a recent business conference in Taipei, Lujan Grisham urged entrepreneurs and leaders to consider investment opportunities in her home state, touting a workforce with access to subsidized child care and tuition-free college. Hobbs said her goal was to encourage ongoing investments to make Arizona a hub for semiconductor manufacturing…JH reporting.
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Applications for jobless benefits fall to lowest level in nearly 8 months
( ) -q-22- UNDATED (Correspondent Jeremy House) “the previous week.”
U.S. applications for unemployment benefits fell to their lowest level in eight months last week.
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TAG: Correspondent Jeremy House reporting. Jobless claim applications are seen as representative of the number of layoffs in a given week.
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VERBATIM: The Labor Department says applications for jobless claims fell by 20,000 to 201,000 for the week ending September 16th. That’s the lowest figure since the last week of January. Overall, 1.66 million people were collecting unemployment benefits during the week that ended September 9, about 21,000 fewer than the previous week.
UK’s new online safety law adds to crackdown on Big Tech companies
( ) -q-21- UNDATED (Correspondent Jeremy House) “freedom of speech.”
British lawmakers have approved an ambitious but controversial new internet safety law.
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TAG: Correspondent Jeremy House reporting. The new law requires social media platforms to take down illegal content, protect kids online and criminalizes some activity like cyberflashing. It adds to efforts in Europe and elsewhere to clamp down on the freewheeling tech industry dominated by U.S. companies.
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VERBATIM: The law contains wide-ranging powers to crack down on digital and social media companies like TikTok, Google and Facebook and Instagram parent Meta. The government says the online safety bill will make Britain the safest place in the world to be online. But digital rights groups say it threatens online privacy and freedom of speech.
Sweden’s central bank hikes key interest rate, saying inflation still too high
( ) -q-17- UNDATED (Correspondent Jeremy House) “the U.S. dollar.”
Sweden’s central bank has raised its key interest rate, saying the “inflationary pressures in the Swedish economy are still too high.”
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TAG: Correspondent Jeremy House reporting. Sweden has been struggling with high inflation, hitting 7.5% in August. That’s down from 9.3% in July but far from the 2% target set by Sweden’s central bank.
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VERBATIM: Sweden’s Riksbank raised its policy rate by a quarter of a percentage point to 4% and says it could be raised further. However, there were signs that the inflation had begun to fall. The currency has plunged to its lowest level ever against the euro and the U.S. dollar.
New passenger rail line to link Miami and Orlando at high speed
( ) -q-23- UNDATED (Correspondent Jeremy House) “the federal government.”
For the first time in a century, a private passenger rail service will launch new operations in the U.S. and this time it involves high-speed trains.
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TAG: Correspondent Jeremy House reporting. Some say it’s a chance to transform rail transit in the U.S., but others are concerned about its safety.
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VERBATIM: Florida’s Brightline will begin running trains between Miami and Orlando on Friday. It will reach speeds of 125 mph along the 235-mile route between the state’s biggest tourist hubs. The line joins the only other high-speed rail in the nation — Amtrak’s Acela (ah SELL ah) line, which operates between Washington and Boston and is owned by the federal government.
An upgrade is due for the U-S nuclear missile defense system
( ) -q-18- UNDATED (Correspondent Jeremy House) “performed by hand.”
The U.S. will spend more than $750 billion over the next decade to overhaul nearly every part of its nuclear defenses.
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TAG: Correspondent Jeremy House reporting.
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VERBATIM: That includes replacing systems that in some cases are more than 50 years old. Until each of those programs is ready, it’s up to young military troops and government technicians across the U.S. to care for the existing bombs. That will often be done through delicate maintenance performed by hand.
UK inflation falls unexpectedly, though rates still set to rise
Inflation in Britain has fallen unexpectedly to its lowest level since Russia invaded Ukraine. Britain’s Office for National Statistics says inflation was 6.7% in August, down from 6.8% in July. It raised hopes that the Bank of England’s widely expected interest rate increase on Thursday will be its last — for now. The decline took inflation to its lowest level since February 2022, when Russia’s invasion of Ukraine led to soaring energy and food prices.
Listen DownloadBritish PM Sunak waters down some climate goals
Prime Minister Rishi Sunak is preparing to water down some of Britain’s environmental commitments. Sunak says the country must fight climate change without penalizing workers and consumers. He adds he’ll set out a “proportionate” approach to the environment in a speech this week. The BBC has reported that Sunak is considering extending deadlines for bans on new gasoline and diesel cars along with new natural-gas home heating.
Listen DownloadHong Kong looks to crackdown on cryptocurrency abuse
( ) -q-25- UNDATED (Correspondent Jeremy House) “in the city.”
Hong Kong’s leader has said the territory will tighten regulation of digital assets.
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TAG: Correspondent Jeremy House reporting. The Securities and Futures Commission said it had received more than 1,400 complaints against JPEX involving more than 1 billion Hong Kong dollars (about $128 million) in losses. JPEX suspended trading on its platform on Monday and blamed a third-party market maker for freezing its funds. It complained of unfair treatment by the authorities.
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VERBATIM: The announcement comes after Hong Kong police arrested six people following allegations of fraud at an unlicensed cryptocurrency exchange in the city. The arrests followed an announcement by Hong Kong’s securities watchdog last week that the exchange, JPEX, was unlicensed. The watchdog adds JPEX did not have authority to operate its cryptocurrency trading platform in the city.
Unions concerned after remote-controlled train death
( ) -q-17- UNDATED (Correspondent Jeremy House) “investigating Anderson’s death.”
Railroad unions are calling for a review following the death of a worker who died over the weekend after he was struck by a remote-controlled train in a CSX railyard in Ohio.
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TAG: Correspondent Jeremy House reporting. The president of the Transportation Communications Union says regulators need to ensure that remote-control technology is making workers safer and not just “replacing people to continue lining the pockets of Wall Street.”
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VERBATIM: The unions that represented carman Fred Anderson said his death highlights the need for an in-depth review of the use of remote-controlled locomotives. Every major railroad has used them for years. The National Transportation Safety Board is investigating Anderson’s death.
