Fewer Americans In The Market For A New Car

An “affordability shift” is taking root in the U.S. auto industry. The trend is being led by people who feel they can no longer afford a new vehicle that would cost them roughly today’s average selling price of more than $47,000, a jump of more than 20% since before the pandemic. The trend is causing car makers to take a second look at their sales and production strategies.

FTC’s rule banning fake online reviews goes into effect

( ) -q-24- UNDATED (Correspondent Jeremy House) “reviews or testimonials.”

A federal rule banning fake online reviews is now in effect.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: The Federal Trade Commission issued the final rule in August banning the sale or purchase of online reviews. It allows the agency to seek civil penalties against knowing violators. The rule bans reviews and testimonials attributed to people who don’t exist or are generated by aritificial intelligence. It also bans businesses from creating or selling reviews or testimonials.

Putin hosts Global South leaders to counterbalance Western clout

( ) -q-29- UNDATED (Correspondent Jeremy House) “heads of state.”

China’s Xi Jinping, India’s Narendra Modi and other global leaders have arrived in the Russian city of Kazan for a summit of the BRICS bloc of developing economies.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: It’s an event that the Kremlin hopes to turn into a rallying point for defying the Western liberal order. For Russian President Vladimir Putin, the three-day meeting also offers a powerful way to demonstrate the failure of U.S.-led efforts to isolate Russia over its action in Ukraine. Kremlin foreign affairs adviser Yuri Ushakov touted the summit as “the largest foreign policy event ever held” by Russia, with 36 countries attending and more than 20 of them represented by heads of state.

GM overcomes US sales drop to post 3rd quarter profit of $3 billion

( ) -q-23- UNDATED (Correspondent Jeremy House) “Wall Street estimates.”

U.S. sales are down and a once-profitable joint venture in China is losing money, but General Motors still managed to post $3 billion in net profits last quarter.

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TAG: Correspondent Jeremy House reporting. Chief Financial Officer Paul Jacobson said that while overall sales in the profitable U.S. market were down 2.2% for the quarter, much of that drop was from sales to large fleet buyers. Sales to individuals, which generally make more money, were up 3%.

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VERBATIM: That’s slightly less than it made a year ago. The Detroit automaker said it took in $48.8 billion in revenue from July through September, 10% more than last year. It was aided by U.S. average vehicle sale prices that were steady at over $49,000. The company’s revenue and adjusted earnings per share both soundly beat Wall Street estimates.

Harris Treading Water In Polls Despite Massive Spending

Harris Plan Would Impose “Death Tax” On More American Families

Newsweek: Twice As Many Pennsylvania Democrats Leaving Party In 2024

Alabama man arrested in SEC social media account hack

( ) -q-20- UNDATED (Correspondent Jeremy House) “after the post.”

An Alabama man has been arrested for his alleged role in the January hack of a U.S. Securities and Exchange Commission social media account that led the price of bitcoin to spike.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: The Justice Department says Eric Council Jr. is accused of helping to break into the SEC’s account on X, formerly known as Twitter. The break-in allowed hackers to prematurely announce the approval of long-awaited bitcoin exchange-traded funds. The price of bitcoin briefly spiked more than $1,000 after the post.

Netflix’s subscriber growth slows, but profit and stock price surge

( ) -q-24- UNDATED (Correspondent Jeremy House) “analysts had expected.”

Netflix says its subscriber growth slowed dramatically during the summer.

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TAG: Correspondent Jeremy House reporting. Netflix also projected its revenue in the current quarter would rise faster than analysts expected. The strong financial performance eclipsed any worries about slowing subscriber growth as Netflix’s shares rose nearly 4% in extended trading.

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VERBATIM: It’s a sign that the huge gains from the video-streaming service’s crackdown on freeloading viewers is tapering off. The 5.1 million subscribers that Netflix added during the July-to-September period represented a 42% decline from the total gained during the same time last year. Even so, the company’s revenue and profit rose at a faster pace than industry analysts had projected.

Meta lays off staff at WhatsApp, Instagram to align with ‘strategic goals’

( ) -q-28- UNDATED (Correspondent Jeremy House) “unit Reality Labs.”

Meta says it has laid off some employees.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: Those laid off include staff at WhatsApp And Instagram, as Meta realigns its resources with its “strategic goals.” A company spokesperson confirmed that some teams were making changes to align with their long-term goals and location strategy. The Verge, who first reported the layoffs, said cuts were made across teams that include messaging service WhatsApp and Instagram and Meta’s virtual reality technology unit Reality Labs.

Senator Cotton Says Fox Interview Shows Harris Living In “Progressive Bubble”

Strong consumer spending lifts retail sales in September

( ) -q-16- UNDATED (Correspondent Jeremy House) “reported higher sales.”

Americans stepped up their purchases at retailers last month.

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TAG: Correspondent Jeremy House reporting. Low unemployment, steady pay gains and rising stock and home values helped sustain shoppers’ willingness to spend despite higher prices.

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VERBATIM: Retail sales rose 0.4% from August to September, up from 0.1% the previous month. September represented the third straight monthly increase. Online retailers, restaurants, and grocery stores all reported higher sales.

Judge in Boeing’s plea deal case asks DOJ to explain its diversity policy

( ) -q-27- UNDATED (Correspondent Jeremy House) “defraud the government.”

The federal judge considering Boeing’s plea deal with prosecutors has some questions for the Justice Department.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: U.S. District Judge Reed O’Connor wants to know how the department’s diversity, equity and inclusion policies would affect the selection of an independent monitor to oversee the aerospace company. O’Connor ordered the DOJ to explain how it will pick the monitor and whether DEI considerations would influence the choice. The appointment is a key component of the deal in which Boeing agreed to plead guilty to a felony charge of conspiring to defraud the government.

Helene and Milton are both likely to be $50 billion disasters

( ) -q-21- UNDATED (Correspondent Jeremy House) “was not insured.”

Monstrous hurricanes Helene and Milton caused so much complex havoc that damages are still being added up.

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TAG: Correspondent Jeremy House reporting. Several experts say damages are skyrocketing because people are building in harm’s way, reconstruction costs are soaring faster than inflation and human-caused climate change is making storms stronger and wetter.

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VERBATIM: Economics, insurance and risk experts believe the storms are likely to be in the pantheon of super-costly $50 billion disasters. That would put them in the company of storms like Katrina, Sandy and Harvey. Making those costs even more painful is that most of that damage, particularly in Helene’s case, was not insured.

Supreme Court allows rule limiting coal-fired pollution to remain in effect

( ) -q-21- UNDATED (Correspondent Jeremy House) “set unattainable standards.”

The Supreme Court has allowed a Biden administration rule aimed at limiting pollution from coal-fired power plants to remain in place as legal challenges play out.

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TAG: Correspondent Jeremy House reporting. Environmental groups have said the standards are reasonable and within the agency’s legal responsibility to control harmful pollution.

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VERBATIM: The court rejected a push from Republican-led states and industry groups to block the Environmental Protection Agency rule. One conservative justice publicly dissented and two others said they expected the challengers to win eventually, but the rule doesn’t need to be blocked now. The challengers argued the EPA overstepped and set unattainable standards.

Policy Expert Continetti Blasts WH Pressure On Israel

Senator Rick Scott Says Poorest Hit Hardest By Milton

Poll: Cruz Expands Lead Over Allred In Texas Senate Race

Senator Jon Tester Rakes In $30-Million In Bid To Hold Montana Seat

Many schools remain closed after Hurricane Helene

Educators are worried about the impact of closed schools following Hurricane Helene. Tens of thousands of students in the Southeast haven’t been back in their classrooms since the hurricane hit. And some districts have no idea when their school buildings will reopen. In hard-hit western North Carolina, some students will miss up to a month of school. Given the severe impact of the storm, virtual learning is not an option because internet and cellphone service has remained spotty since the storm struck in late September.

Electricity-fueled energy market is coming but more clean energy is needed

(   ) -q-21- UNDATED (Correspondent Jeremy House) “in a bind.'”

An increasing shift toward electric vehicles globally, especially in China, is poised to disrupt the global oil market.

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TAG: Correspondent Jeremy House reporting. The IEA’s World Energy Outlook 2024, released Wednesday, outlines a future where EV adoption continues to gain momentum, reaching 50% of global car sales in 2030.

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VERBATIM: That’s according to a new report by the International Energy Agency. In recent years, China has accounted for most of the growth in oil demand and planet-heating emissions. However, electric vehicles now make up 40% of new sales of cars there, and 20% globally, putting major oil and gas producers “in a bind.”

UK inflation falls to lowest level in over 3 years

( ) -q-25- UNDATED (Correspondent Jeremy House) “bigger than anticipated.”

Inflation in the U.K. has fallen to its lowest level in more than three years.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: It’s a decline that has cemented market expectations that the Bank of England will lower interest rates at its next policy meeting. The Office for National Statistics says consumer prices rose by 1.7% in September. That’s down from 2.2% the previous month, largely as a result of lower air fares and gas prices. The decline was bigger than anticipated.

Troubled Boeing signals it may raise up to $25 billion to shore up finances

( ) -q-23- UNDATED (Correspondent Jeremy House) “the company’s airplanes.”

Boeing is moving toward raising up to $25 billion to shore up its troubled financial position.

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TAG: Correspondent Jeremy House reporting. Last week, new CEO Kelly Ortberg said Boeing will cut about 10% of its workforce – that’s around 17,000 jobs.

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VERBATIM: The company is signaling it could raise that much money by issuing new stock or debt over the next three years. Boeing is also entering into a new $10 billion credit agreement with leading U.S. banks. Boeing has lost more than $25 billion since the start of 2019, and now it’s under pressure from a strike by union machinists who make the company’s airplanes.

Tillis Warns GOP Colleagues Against Senate Rules Change