Norfolk Southern fires CEO for inappropriate relationship with employee

( ) -q-23- UNDATED (Correspondent Jeremy House) “the last decade.”

Norfolk Southern says it has fired CEO Alan Shaw for having an inappropriate relationship with a subordinate.

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TAG: Correspondent Jeremy House reporting. Activist investor Ancora Holdings tried to take control of the railroad earlier this year and fire Shaw. The railroad’s board on Wednesday said it promoted Chief Financial Officer Mark George to be its new CEO.

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VERBATIM: Shaw’s departure ends two difficult years on the job and comes just days after the company’s board announced it was investigating his alleged ethical lapses. Shaw was leading Norfolk Southern in February 2023 when one of its trains derailed, spilled toxic chemicals and caught fire in East Palestine, Ohio. The fire was the worst railroad disaster in the last decade.

Senate GOP Election Arm Reports Strong Poll Numbers

European business confidence in China is at an all-time low

( ) -v-31- UNDATED (Correspondent Jeremy House) “std.”

A European business group says China must re-prioritize economic growth and reforms and boost investor confidence by leveling the playing field for all companies in the country. Correspondent Jeremy House has more on the story.

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VERBATIM: The annual European Business in China Position Paper published by the European Chamber of Commerce in China says many European businesses are deciding that the returns on China investments are not worth the risks. It says business confidence is at an all-time low due to issues, including an economic slowdown and a politicized business environment. The report called on China to allow a more free market to determine resource allocation, and to introduce policies aimed at boosting domestic demand…JH reporting.

Flights grounded at Kenya’s main airport amid workers’ protest

( ) -q-26- UNDATED (Correspondent Jeremy House) “who will remain.”

Hundreds of workers at Kenya’s main international airport are demonstrating against a planned deal between the government and a foreign investor.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: Planes have remained grounded with hundreds of passengers stranded at the airport. The government revealed that the build-and-operate agreement with India’s Adani Group would see the airport modernized and an additional runway and terminal constructed in exchange for the group running the airport for 30 years. Kenya Airport Workers Union said that the deal would lead to job losses and “inferior terms and conditions of service” for those who will remain.

A Boeing strike is looking more likely

( ) -q-25- UNDATED (Correspondent Jeremy House) “in Washington state.”

There might be a strike at Boeing this week after all.

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TAG: Correspondent Jeremy House reporting. Unlike strikes at airlines, a walkout at Boeing wouldn’t result in canceled flights. It would, however, shut down production and leave Boeing with no jets to deliver to the airlines that ordered them.

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VERBATIM: The president of the machinists’ union local district in Seattle says he expects workers to vote down a contract negotiated by the union and the company. Voting takes place Thursday and covers about 33,000 workers, most of them in Washington state. The tentative agreement would give workers 25% raises over four years and a promise that Boeing’s next new airplane will be built by union members in Washington state.

Tuberville Blocks Promotion For Austin Aide

House Moves Ahead With Budget CR/Voter Integrity Bill

GOP Governor Blasts Harris Plan To Tax Unrealized Investment Gains

Senator Cotton Calls For Foreign Policy Focus In Trump/Harris Debate

2024 Olympics were a success for Paris but not for some businesses

( ) -q-19- UNDATED (Correspondent Jeremy House) “the bustling capital.”

Parisian business owners and hotel managers were promised a summer like no other. Correspondent Jeremy House reports it never came to fruition.

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TAG: The government says overall tourist visits were up. But spending was down at many businesses near Olympic venues and traditional tourist sites surrounded by security cordons.

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VERBATIM: Millions of tourists were expected flood the French capital for the Olympic and Paralympic Games, generating billions of euros for Paris and its region alone. However, many in the Paris service industry faced one of their worst summers ever. That’s mainly because of security restrictions around Olympic venues in the heart of the bustling capital.

China’s August exports grow a robust 8.7%, beating forecasts

( ) -q-24- UNDATED (Correspondent Jeremy House) “increase in July.”

China’s exports grew for a fifth consecutive month.

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TAG: Correspondent Jeremy House reporting. August was the strongest in 18 months, thanks in part to a low base in August 2023, when exports declined 8.8%. By comparison, imports grew just 0.5% compared to a year ago, falling short of the approximately 2% estimate by economists.

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VERBATIM: It’s a sign of growing demand abroad even as imports fell amid a slowing Chinese economy. Data released by China’s customs office showed exports in August expanded by 8.7% to $308.65 billion compared to the same period last year, beating economists’ estimates. The export figures for August were also up from a 7% increase in July.

Google loses final EU court appeal in antitrust shopping case

( ) -q-26- UNDATED (Correspondent Jeremy House) “detriment of competitors.”

Google has lost its final legal challenge against a European Union penalty for giving its own shopping recommendations an illegal advantage over rivals in search results.

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TAG: Correspondent Jeremy House reporting. The European Union penalty was one of three multibillion-euro fines the commission imposed on Google in the past decade as Brussels ramped up its crackdown on the tech industry.

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VERBATIM: The European Union’s Court of Justice upheld a lower court’s decision, ending a long-running antitrust case that came with a huge fine. The court dismissed the company’s appeal against the $2.7 billion penalty from the European Commission, the 27-nation bloc’s top antitrust enforcer. The commission’s original decision in 2017 accused Google of unfairly directing visitors to its Google Shopping service to the detriment of competitors.

DirecTV files complaint against Disney with FCC as impasse enters 2nd week

( ) -q-26- UNDATED (Correspondent Jeremy House) “and men’s finals.”

The impasse between DirecTV and Disney over a new carriage agreement has become more heated as it enters its second week.

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TAG: Correspondent Jeremy House reporting. DirecTV has 11.3 million subscribers, according to Leichtman Research Group, making it the nation’s third-largest pay TV provider.

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VERBATIM: DirecTV filed a complaint with the Federal Communications Commission over the weekend, accusing Disney of negotiating in bad faith. Disney channels, including ESPN and ABC-owned stations in nine markets, have been off DirecTV since the evening of September first. That meant DirecTV customers were blacked out from viewing most college football games and the final week of the U.S. Open tennis tournament, including the women’s and men’s finals.

Japan’s economy is growing, but political uncertainty poses risks

( ) -q-19- UNDATED (Correspondent Jeremy House) “a new leader.”

Japan’s economy grew at an annual rate of 2.9% during the second quarter.

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TAG: Correspondent Jeremy House reporting. The revised data from Japan’s Cabinet Office still showed the country’s economy rebounded in the fiscal first quarter.

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VERBATIM: That figure is lower than the earlier report for 3.1% growth, boosted by better wages and spending. The number shows clear risks remain, including U.S. economic growth, which greatly affects export-reliant Japan. Political uncertainty in Japan is another risk as the ruling party picks a new leader.

Google faces new antitrust trial after search engine monopoly ruling

( ) -v-32- UNDATED (Correspondent Jeremy House) “std.”

One month after a judge declared Google’s search engine an illegal monopoly, the tech giant faces another antitrust lawsuit that threatens to break up the company. Correspondent Jeremy House reports.

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VERBATIM: The Justice Department and a coalition of states contend Google built and maintains a monopoly over the technology that matches advertisers to online publishers. The government contends Google’s dominance over the software on both the buy side and the sell side of the transaction enables it to keep up to 36 cents on the dollar when it brokers sales between publishers and advertisers. Google says the government’s case is based on an outdated perception of the internet, when desktop computers dominated the landscape…JH reporting.

Vance Says Harris Price Controls Would Backfire

US hiring rebounds slightly and unemployment rate dips

( ) -q-23- UNDATED (Correspondent Jeremy House) “but still growing.”

Hiring by America’s employers picked up a bit in August from July’s sluggish pace.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: The Labor Department says employers added 142,000 jobs last month, up from just 114,000 in July. The unemployment rate ticked down to 4.2% from 4.3% in July. Last month’s rate had been the highest in nearly three years. Collectively, the figures depict a job market slowing under the pressure of high interest rates, but still growing.

Verizon buying Frontier in $20B deal to strengthen fiber network

( ) -q-21- UNDATED (Correspondent Jeremy House) “from fiber products.”

Verizon is buying Frontier Communications in a $20 billion deal that helps to strengthen its fiber network.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: Verizon Communications says the transaction will also help it in the area of artificial intelligence. Frontier has concentrated heavily on its fiber network capabilities over about the last four years, investing $4.1 billion upgrading and expanding its fiber network. It now gets more than half of its revenue from fiber products.

Health officials forced to deal with uninspected pharmaceutical plants

( ) -q-27- UNDATED (Correspondent Jeremy House) “of overseas travel.”

U.S. health inspectors are still struggling to address a massive backlog of pharmaceutical plants that went uninspected during disruptions caused by COVID-19.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: According to an analysis of government data by the Associated Press, roughly 2,000 drug manufacturing sites around the world have not had a Food and Drug Administration inspection for quality since before the pandemic. The FDA considers plants that have gone more than five years without an inspection to be a significant risk. Agency officials say their work has been hampered by difficulties recruiting and retaining inspectors, who face a grueling schedule of overseas travel.

Google is blasted by UK watchdog for its digital ads

( ) -v-34- UNDATED (Correspondent Jeremy House) “std.”

Google is being slammed by U.K. regulators who say it’s taking advantage of its dominance in digital advertising to thwart competition in Britain. Correspondent Jeremy House reports.

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VERBATIM: The new claims ratchet up pressure that the tech giant is facing on both sides of the Atlantic over its “ad tech” business practices. The Competition and Markets Authority said that the U.S. company gives preference to its own services to the detriment of online publishers and advertisers. Google is a major player throughout the digital ad ecosystem, providing services for publishers, tools for advertisers and an exchange where both sides come together to buy and sell ads in real time at auctions. The company disputed the allegations…JH reporting.

Lamar Jackson Rallies Ravens, But Falls 27-20 to the Chiefs

KANSAS CITY, Mo. (AP) — Patrick Mahomes thought for a moment that the Chiefs were headed to overtime. So did Ravens counterpart Lamar Jackson, who had found Isaiah Likely in the back of the end zone with no time left for a touchdown that appeared to tie the game. Bernie Bennett has this report.

Navy Secretary Violated Law By Endorsing Biden On Overseas Trip

Trump Says Musk Would Oversee New Government Efficiency Commission

Applications for US jobless benefits fall modestly last week as layoffs remain relatively low

( ) -q-24- UNDATED (Correspondent Jeremy House) “by historic standards.”

The number of Americans filing for unemployment benefits fell last week.

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TAG: Correspondent Jeremy House reporting. The total number of Americans collecting jobless benefits declined by 22,000 to 1.84 million for the week of August 24.

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VERBATIM: The Labor Department says jobless claims fell by 5,000 to 227,000 for the week ending August 31. That’s less than the 230,000 new filings analysts were expecting. The four-week average of claims fell by 1,750 to 230,000. Weekly filings for unemployment benefits, which are considered a proxy for layoffs, remain low by historic standards.