Air Canada and pilots union reach a tentative agreement

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

Air Canada and the union representing its pilots have come to terms on a labor agreement that is likely to prevent a shutdown of Canada’s largest airline. Correspondent Jeremy House reports.

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VERBATIM: The airline said talks betwen the company and the Air Line Pilots Association produced a tentative, four-year collective agreement. Air Canada says terms will remain confidential until ratification by union members and approval by the airline’s board of directors over the next month. Union leaders say they approved the agreement on behalf of more than 5,400 Air Canada and Air Canada Rouge pilots in anticipation of a $1.9 billion increase for the employees over the period of the agreement…JH reporting.

Coast Guard to hear from former OceanGate employees about Titan implosion

( ) -q-24- UNDATED (Correspondent Jeremy House) “among those killed.”

The U.S. Coast Guard officials investigating the implosion of a submersible en route to the wreck of the Titanic is hearing from former employees of the company that owned the experimental watercraft.

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TAG: Correspondent Jeremy House reporting. The company immediately suspended operations after the implosion.

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VERBATIM: The hearing will include testimony from a former engineering director, finance director and contractor of OceanGate, the company that owned the Titan submersible. The Titan imploded in the North Atlantic in June 2023, killing all five people on board and setting off worldwide debate about the future of private undersea exploration. OceanGate co-founder Stockton Rush was among those killed.

Congress targets Chinese influence in health tech

( ) -q-26- UNDATED (Correspondent Jeremy House) “linked to China.”

A San Jose-based biotechnology company that helps doctors detect genetic causes for cancer is among those that could be cut out of the U.S. market over ties to China.

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Out-cue: linked to China]

TAG: Correspondent Jeremy House reporting. Some China-based companies work with U.S. drugmakers to develop and make new medications.

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VERBATIM: The potential removal underscores the possible tradeoffs between health innovation and a bipartisan push in Congress to counter Beijing’s clout. The founder of Complete Genomics (jee NOM icks) is frustrated that geopolitics is interfering with science and calls it “a loss for the research.” The U.S. House this week passed a measure citing national security to prevent federal money from benefiting five companies linked to China.

China bans, fines PwC accounting firm ban over audit

Chinese authorities have banned the accounting firm PwC for six months and fined it over $56 million for its involvement in the audit of collapsed local property developer Evergrande.

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Out-cue: ongoing property crisis]

TAG: Correspondent Jeremy House reporting. PwC has been the largest of the “big four” accounting firms operating in China.

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VERBATIM: The punishment is the heaviest yet for international accounting firms operating in China. PwC will be banned from signing off on financial results in the country for six months. Already, it has been losing clients. The auditor came under Beijing’s scrutiny after the January collapse of Evergrande, the world’s most indebted developer and a symbol of China’s ongoing property crisis.

Wholesale inflation mostly cooled last month in latest sign that price pressures are slowing

( ) -q-19- UNDATED (Correspondent Jeremy House) “increase in July.”

U.S. wholesale price increases mostly slowed last month.

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Out-cue: increase in July]

TAG: Correspondent Jeremy House reporting. The report is the latest evidence that inflation pressures are cooling enough for the Federal Reserve to begin cutting interest rates next week.

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VERBATIM: The Labor Department says its producer price index rose 0.2% from July to August. That is up from an unchanged reading a month earlier. And measured from a year ago, prices were up 1.7% in August, the smallest such rise since February and down from a 2.1% annual increase in July.

US companies see record-low profits in China

( ) -q-26- UNDATED (Correspondent Jeremy House) “over two decades.”

A report by the American Chamber of Commerce in Shanghai has found that U.S. companies in China are seeing record-low profits.

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Out-cue: over two decades]

TAG: Correspondent Jeremy House reporting. China and the U.S. have in recent years clashed over issues like trade and manufacturing, as well as China’s claims over the South China Sea. China is also grappling with a slowing domestic economy post-COVID.

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VERBATIM: The low profits are the result of business confidence being at an all-time low amid U.S.-China tensions and a slowing Chinese economy. Out of 306 companies polled, a record-low 66% were profitable in 2023. The report also found that only 47% of respondents were optimistic about their business outlook in China over the next five years, the lowest in the survey’s history of over two decades.

Fed official broke ethics rules but didn’t violate insider trading laws

( ) -q-29- UNDATED (Correspondent Jeremy House) “his financial disclosures.”

A government investigation into Atlanta Federal Reserve President Raphael Bostic’s securities trades and investments has found he violated several of the central bank’s ethics policies.

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Out-cue: his financial disclosures]

TAG: Correspondent Jeremy House reporting.

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VERBATIM: The violations created the appearance that Bostic acted on confidential Fed information and that he had a conflict of interest. But according to a report, the Fed’s Office of Inspector General concluded there was no violation of federal insider trading or conflict of interest laws. In 2022, Bostic acknowledged that many of his financial trades and investments inadvertently violated the Fed’s ethics rules and said he took action to revise all his financial disclosures.

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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Out-cue: the lase decade]

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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Out-cue: who will remain]

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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Out-cue: in Washington state]

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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Out-cue: the bustling capital]

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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Out-cue: detriment of competitors]

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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Out-cue: and men’s finals]

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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Out-cue: a new leader]

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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Out-cue: but still growing]

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.