Hedge fund Elliott Investment Management steps up pressure on Southwest Airlines’ management

( ) -q-21- UNDATED (Correspondent Jeremy House) “board of directors.”

A hedge fund that’s been urging Southwest Airlines to dump its CEO and chairman says it has acquired enough of the company’s stock to call a special meeting of shareholders.

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TAG: Correspondent Jeremy House reporting. Elliott blames Southwest’s leadership for a sharp drop in Southwest’s stock price over the last three years.

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VERBATIM: The move gives Elliott Investment Management more leverage in its proxy fight heading into a meeting with Southwest officials next week. The hedge fund said in a regulatory filing that it now owns at least 10% of Southwest’s stock. That gives it the ability to call for a special meeting where shareholders could consider candidates for the airline’s board of directors.

“Wrecking Ball”: Republican Senator Blasts Harris Actions Toward Israel

Israeli Journalist Says Hamas Wants Destruction, Civilian Deaths In Gaza

Decision Desk: Republicans Likely to Recapture Senate Majority

Volkswagen aims to cancel a no-layoffs pledge and won’t rule out closing plants in Germany

( 9a ) -q-22- UNDATED (Correspondent Jeremy House) “criticized the possibility.”

Volkswagen says it’s not getting the cost reductions that it needs.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: Because of this, the car maker won’t rule out plant closings in its home country Germany. CEO Oliver Blume is also saying the company needs to end its job protection promise in effect since 1994 which bars layoffs through 2029. Germany’s industrial union and VW’s top employee representative have sharply criticized the possibility.

A decision on a major policy shift on marijuana won’t come until after the presidential election

( ) -q-27- UNDATED (Correspondent Jeremy House) “positions on marijuana.”

A decision on whether to reclassify marijuana as a less dangerous drug in the U.S. won’t come until after the November presidential election.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: The timeline raises the chances this could be a potent political issue in the closely contested race. The U.S. Drug Enforcement Administration has set a hearing date to take comment on the proposed historic change in federal drug policy for December 2. The hearing date means a final decision could well come in the next administration. That could put a new spotlight on former President Donald Trump and Vice President Kamala Harris’ positions on marijuana.

Clearview AI fined $33.7 million by Dutch data protection watchdog over ‘illegal database’ of faces

( ) -q-22- UNDATED (Correspondent Jeremy House) “against the fine.'”

The Dutch data protection watchdog has issued facial recognition startup Clearview AI with a fine of $33.7 million.

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TAG: Correspondent Jeremy House reporting. The agency said that building the database and insufficiently informing people whose images appear in the database amounted to serious breaches of the European Union’s General Data Protection Regulation.

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VERBATIM: The fine centers on Clearview AI’s creation of what the agency called an “illegal database” of billion of photos of faces. The Netherlands’ Data Protection Agency also warned Dutch companies that using Clearview’s services is also banned. The data agency said that Clearview “has not objected to this decision and is therefore unable to appeal against the fine.”

Business Observers Say AI May Not Be The Job Killer Many Fear

There may be good news for workers who fear they’ll lose their jobs because of Artificial Intelligence. The recent experiences of a number of companies suggests that AI may not prove to be the job killer that many people have feared. Instead-business observers say-the technology might turn out to be more like major technological breakthroughs of the past — the steam engine, electricity, the internet: That is, eliminate some jobs while creating others. And probably making workers more productive in general, to the eventual benefit of themselves, their employers and the economy.

Japan wants its hardworking citizens to try a 4-day workweek

( ) -q-28- UNDATED (Correspondent Jeremy House) “paid annual leave.”

Japan’s government is trying to address a worrisome labor shortage by coaxing more people and companies to adopt four-day workweeks.

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TAG: Correspondent Jeremy House reporting. The labor ministry recently started offering free consulting, grants and a growing library of success stories as further motivation.

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VERBATIM: Japan is a nation so hardworking its language has a term for literally working oneself to death. The country’s government first expressed support for a shorter working week in 2021. The concept has been slow to catch on, however. Hoping to produce more takers, especially among small and medium-sized businesses, the government launched a “work style reform” campaign that promotes shorter hours and other flexible arrangements along with overtime limits and paid annual leave.

AI may not steal many jobs after all

Artificial intelligence is beginning to allow many employers to automate functions long performed by human workers. The recent experiences of a number of companies suggest however, that AI may not prove to be the job killer that many people have feared. Instead, the technology might turn out to be more like major technological breakthroughs of the past — the steam engine, electricity and the Internet. The bottom line, while AI may eliminate some jobs, it’s creating others.

Inspector General: Biden Built Gaza Pier Despite Knowing It Would Fail

Fed’s favored inflation gauge shows price pressures easing as rate cuts near

(11a) -v-34- WASHINGTON (Correspondent Jeremy House) “std.”

An inflation measure closely tracked by the Federal Reserve remained low last month. Correspondent Jeremy House reports.

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VERBATIM: Prices rose just 0.2% from June to July, up a bit from the previous month’s 0.1% increase. Compared with a year earlier, inflation was unchanged at 2.5%. The trend of cooling price increases may clear the way for the Fed to start cutting its key interest rate next month for the first time in 4 1/2 years. Despite the near-end of high inflation, many Americans remain unhappy with sharply higher average prices for such necessities as gas, food and housing compared with pre-pandemic levels…JH, Washington.

Investigators say dispatching errors led to deadly Union Pacific train crash

( ) -q-21- UNDATED (Correspondent Jeremy House) “the parked railcars.”

Dispatching errors and the failure of two backup systems allowed a Union Pacific train to slam into 74 railcars that had been parked on a side track for nine months in Southern California in 2022.

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TAG: Correspondent Jeremy House reporting. One dispatcher even overruled the train crew who said they had been told by a colleague that cars were still parked on that siding.

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VERBATIM: That’s according to a National Transportation Safety Board report detailing what caused the crash in the desert near the Salton Sea. An engineer and a conductor died in the accident. Investigators determined that mistakes made by dispatchers at the railroad’s headquarters in Omaha, Nebraska, led to the train being routed directly into the parked railcars.

Inflation fell to 2.2% in Europe, clearing way for a European Central Bank rate cut

( ) -q-21- UNDATED (Correspondent Jeremy House) “its September meeting.”

Inflation is down in Europe.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: August’s figure is 2.2%, down from 2.6% in July. The pace of consumer price increases in the 20 countries that use the euro is now close to the 2% goal set out by the European Central Bank. The figure is more evidence that the coast is clear for the ECB to cut interest rates at its September meeting.

Grand Canyon visitors move to hotels outside the park after pipeline breaks

( ) -q-21- UNDATED (Correspondent Jeremy House) “during the day.”

Tourists with plans to stay at Grand Canyon National Park over Labor Day weekend were forced to move Thursday to accommodations outside the park.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: It marked the first day of sudden closures for overnight hotel stays after the park’s only water pipeline failed. The restrictions will run throughout the holiday, when hotels were near or at capacity. One hotel inside the park says it had to cancel nearly 1,000 reservations for the weekend. However, the park will remain open during the day.

Observers Say CNN Interview Shows Harris Unable To Lead

Senator Cotton Says Trump Arlington Cemetery “Scandal” Fake News

House Launches Probe Into Alleged Retaliation On TSA Whistlblowers

Former Senator Jim Talent Says Harris Deserves Tough Questions

Economic growth for Q2 is revised up to a solid 3% annual rate

( ) -v-35- WASHINGTON (Correspondent Jeremy House) “std.”

The U.S. economy grew last quarter at a healthy 3% annual pace. Correspondent Jeremy House reports.

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VERBATIM: The Commerce Department had previously estimated that the nation’s gross domestic product expanded at a 2.8% rate from April through June. Fueled by strong consumer spending and business investment, the second-quarter growth marked a sharp acceleration from a sluggish 1.4% growth rate in the first three months of 2024. Consumer spending, which accounts for about 70% of U.S. economic activity, rose at a 2.9% annual rate last quarter, up from 2.3% in the government’s initial estimate…JH, Washington

Rail worker’s death highlights union questions about remote control trains

( ) -q-23- UNDATED (Correspondent Jeremy House) “and reassemble trains.”

The CSX worker who discovered his friend run over by a pair of remote-control locomotives last year sees two-person crews as a simple solution to preventing similar deaths.

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TAG: Correspondent Jeremy House reporting. A Federal Railroad Administration spokesperson says the agency is scrutinizing the use of remote control. The expanded use of remote-control trains outside of rail yards is also attracting attention.

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VERBATIM: The worker’s testimony is a part of an update released by the National Transportation Safety Board into the September 2023 death of Fred Anderson. The idea of two-person crews isn’t expected to be popular with the railroads. They’ve come to rely heavily on having one person control trains moving around a railyard to take apart and reassemble trains.

Nvidia stock slips even after strong earnings, demand for AI chips surges

( ) -q-26- UNDATED (Correspondent Jeremy House) “artificial intelligence boom.”

Nvidia may have exceeded Wall Street estimates as its profit jumped, although investors seemed less than impressed.

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TAG: Correspondent Jeremy House reporting.

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The company reported a net income of to $16.6 billion. Adjusted for one-time items, net income was $16.95 billion. Revenue rose to $30 billion, up 122% from a year ago and 15% from the previous quarter. Nvidia has been buffeted by the chipmaking dominance that has cemented the company’s place as the poster child of the artificial intelligence boom.

New rules make it harder for criminals to launder money by paying cash for homes

( ) -q-23- UNDATED (Correspondent Jeremy House) “for money laundering.”

The Treasury Department has issued new regulations aimed at making it harder for criminals to launder money by paying cash for residential real estate.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: Under the rules, investment advisors and real estate professionals will be required to report cash sales of residential real estate to legal entities, trusts and shell companies. The new disclosure rules come as part of an ongoing effort to combat money laundering and the movement of dirty money through the American financial system. All-cash purchases of residential real estate are considered a high risk for money laundering.

Sen. Rick Scott Says Opponent Mischaracterizing His Abortion Stance