Kroger and Albertsons head to court to defend merger plan

( ) -q-19- UNDATED (Correspondent Jeremy House) “raise grocery prices.”

Kroger and Albertsons are defending their plan to merge in a hearing beginning Monday (TODAY) in federal court in Oregon.

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Out-cue: raise grocery prices]

TAG: Correspondent Jeremy House reporting. Following the three-week hearing, U.S. District Judge Adrienne Nelson will decide whether to grant the FTC’s request for a preliminary injunction, which would block the merger while the case goes through in-house proceedings at the FTC.

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VERBATIM: In October 2022, the chains proposed what would be the largest supermarket merger in U.S. history. They say joining together would help them compete with big rivals like Walmart and Costco. But the Federal Trade Commission sued to try to block the merger, saying it would eliminate competition and raise grocery prices.

French authorities arrest Telegram CEO Pavel Durov at a Paris airport

( ) -q-22- UNDATED (Correspondent Jeremy House) “France from Azerbaijan.”

French broadcast media reports say the founder and CEO of the popular messaging service Telegram has been detained at a Paris airport.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: Pavel Durov is being held on an arrest warrant alleging his platform has been used for money laundering, drug trafficking and other offenses. Durov is a dual citizen of France and Russia. French broadcasters LCI and TF1 reported that Durov was arrested in Paris over the weekend after landing in France from Azerbaijan.

Cruise teams up with Uber to provide robotaxis

(   ) -q-25- UNDATED (Correspondent Jeremy House) “San Francisco street.”

Cruise’s trouble-ridden robotaxis are on the road to joining Uber’s ride-hailing service next year.

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TAG: Correspondent Jeremy House reporting. Cruise’s robotaxis are still sidelined in California, but some of its Chevy Bolts are giving autonomous rides in Phoenix and Dallas with humans behind the wheel to take over if something goes wrong.

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VERBATIM: It’s part of a multiyear partnership bringing together two companies that once appeared poised to compete for passengers. The alliance is the latest change in direction for Cruise since its license to provide driverless rides was suspended in October 2023. The suspension came after one of its robotaxis dragged a jaywalking pedestrian who had been struck by a human-driven vehicle across a darkened San Francisco street.

Italy, EU locked in long-running battle over lucrative beach concessions

( ) -q-23- UNDATED (Correspondent Jeremy House) “without open procedures.”

The latest chapter in a seemingly endless saga over the management of Italy’s lucrative beach concessions has set Italian beaches on fire this summer.

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Out-cue: without open procedures]

TAG: Correspondent Jeremy House reporting. After the latest extension approved by the conservative government of Giorgia Meloni until the end of the year, Rome has now run out of options and will be forced to comply with EU rules from early 2025.

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VERBATIM: For nearly two decades, the European Commission has been locked in a legal tug-of-war with Italy over its beach concession practices. Officials have accused Italy of lacking transparency and breaching competition rules. Italian governments have staunchly resisted EU directives requiring competitive tendering, persistently renewing the existing beach concessions without open procedures.

U.S. applications for unemployment benefits inch up

( ) -q-21- UNDATED (Correspondent Jeremy House) “the week before.”

The number of Americans filing for unemployment benefits rose modestly last week.

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Out-cue: the week before]

TAG: Correspondent Jeremy House reporting. Weekly filings for unemployment benefits, which are a proxy for layoffs, remain low by historic standards.

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VERBATIM: The Labor Department says jobless claims rose by 4,000 to 232,000 for the week of August 17th. The four-week average of claims ticked down by 750 to 236,000. For the week ending August 10, 1.86 million Americans were collecting jobless benefits, 4,000 more than the week before.

Delta and American Airlines extend the suspension of flights to Israel

( ) -q-19- UNDATED (Correspondent Jeremy House) “to Israel indefinitely.”

Delta Air Lines is extending its suspension of flights between the U.S. and Israel by another month, through October 31.

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Out-cue: to Israel indefinitely]

TAG: Correspondent Jeremy House reporting. All three airlines broke off the flights shortly after the war between Israel and Hamas began last October, when the militant group attacked Israelis.

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VERBATIM: The extension is in response to the ongoing war in Gaza. Delta’s announcement follows news from American Airlines that it plans to suspend flights to Israel through late March of next year. American updated a travel advisory on its website over the weekend. United Airlines has stopped flying to Israel indefinitely.

California announces new deal with tech to fund journalism, AI research

( ) -q-26- UNDATED (Correspondent Jeremy House) “to their content.”

California will be the first U.S. state to direct millions of dollars from taxpayer money and tech companies to help pay for journalism and AI research.

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Out-cue: to their content]

TAG: Correspondent Jeremy House reporting.

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VERBATIM: Under a new agreement, the state and tech companies would collectively pay roughly $250 million over five years to support California-based news organizations and create an AI research program. The initiatives are set to kick in in 2025 with $100 million the first year. The deal effectively marks the end of a legislation that would force tech companies to pay media companies for linking to their content.

Most fed officials favored a rate cut in Sept if inflation continued to cool

( ) -q-24- UNDATED (Correspondent Jeremy House) “is in mid-September.”

Most Federal Reserve officials agreed last month that they would likely cut their benchmark interest rate at their next meeting in September as long as inflation continued to cool.

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Out-cue: is in mid-September]

TAG: Correspondent Jeremy House reporting.

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VERBATIM: The minutes of the Fed’s meeting on July 30th and 31st indicate that the “vast majority” of policymakers “observed that, if the data continued to come in about as expected, it would likely be appropriate to ease policy at the next meeting.” Wall Street traders had already considered it a certainty that the Fed will announce its first interest rate cut in four years. It’s next meeting is in mid-September.

Senator Amy Klobuchar Praises Tim Walz At DNC

Powell may use Friday speech to hint at expected Fed cut rates

( ) -q-29- UNDATED (Correspondent Jeremy House) “employers keep hiring.”

Chair Jerome Powell will likely provide some hints about how the Fed sees the economy and what its next steps may be in a high-profile speech Friday in Jackson Hole, Wyoming.

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Out-cue: employers keep hiring]

TAG: Correspondent Jeremy House reporting.

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VERBATIM: Federal Reserve officials have said they’re increasingly confident that they’ve nearly tamed inflation. Now, it’s the health of the job market that’s starting to draw their concern. With inflation cooling toward its 2% target, the pace of hiring slowing and the unemployment rate edging up, the Fed is poised to cut its benchmark interest rate next month from its 23-year high. How fast it may cut rates after that, though, will be determined mainly by whether employers keep hiring.

Canadian freight trains could stop moving Thursday

( ) -q-25- UNDATED (Correspondent Jeremy House) “on CPKC tracks.”

Businesses across a variety of industries are bracing for freight trains to stop moving Thursday at both major Canadian freight railroads if they can’t resolve a contract dispute.

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Out-cue: on CPKC tracks]

TAG: Correspondent Jeremy House reporting. Canadian Prime Minister Justin Trudeau has been reluctant to force the Teamsters Canada Rail Conference to accept a deal.

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VERBATIM: The impact will be widespread because so many companies rely on Canadian National and CPKC railroads to deliver their raw materials and finished products. Railroads delivered more than 375 million tons of freight in Canada last year. More than 32,000 rail commuters in Toronto, Montreal and Vancouver will also be affected because those trains operate on CPKC tracks.

Montana asbestos clinic seeks to reverse $6M in fines, penalties

( ) -q-25- UNDATED (Correspondent Jeremy House) “and other benefits.”

A health clinic in a Montana town plagued by deadly asbestos contamination is asking an appeals court to reverse almost $6 million in fines and penalties.

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Out-cue: and other benefits]

TAG: Correspondent Jeremy House reporting.

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VERBATIM: The request comes after a jury found the clinic submitted hundreds of false claims. Asbestos-tainted vermiculite (ver MIH kyoo light) mined from a nearby mountain was shipped through Libby, Montana, by rail over decades, sickening or killing thousands of people. A jury last year said 337 cases from the Center for Asbestos Related Disease were based on false claims that made patients eligible for Medicare and other benefits.

Senator Bernie Sanders Praises Kamala Harris At DNC

James Taylor “Honored” Despite Cancelled Performance At DNC

TikTok compares itself to foreign-owned American news outlets

( ) -q-28- UNDATED (Correspondent Jeremy House) “a German publisher.”

TikTok has pushed back on arguments that the popular social media platform is not shielded by the First Amendment.

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TAG: Correspondent Jeremy House reporting. The arguments were made in a case between the U.S. and TikTok over the federal law that could lead to a ban on the popular app.

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VERBATIM: The U.S. Justice Department had said in a legal brief submitted last month, that TikTok’s owner, China-based ByteDance, as well as the platform’s global and U.S. arms were not entitled to First Amendment protections. TikTok attorneys argued that the platform’s U.S. arm doesn’t forfeit its constitutional rights because it is owned by a foreign entity. They drew a parallel between TikTok and well-known news outlets such as Politico and Business Insider, which are owned by a German publisher.

Amid Mideast conflict, Dubai booms with an influx of anxious wealth

( ) -q-21- UNDATED (Correspondent Jeremy House) “friendly visa system.”

As conflict casts a shadow across the Middle East, people are getting rich in Dubai.

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Out-cue: friendly visa system]

TAG: Correspondent Jeremy House reporting. Dubai is positioning itself as a safe haven in a region that’s resting on a knife’s edge following the assassination of Hamas leader Ismail Haniyeh in Iran.

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VERBATIM: Years after a momentary slump in the early days of the COVID-19 pandemic, the desert sheikdom’s economy is buzzing with tourism and construction. Dubai has a long history of indirectly benefiting from crises in the region. When the ultra-wealthy worry about turmoil, the city offers stability, low taxes and a friendly visa system.

Walmart grows more optimistic about 2024 as bargains boom

( ) -q-21- UNDATED (Correspondent Jeremy House) “are fraying either.”

Walmart had another quarter of strong sales that topped almost all expectations.

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Out-cue: are fraying either]

TAG: Correspondent Jeremy House reporting.

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VERBATIM: Walmart’s comparatively low prices are proving to be a powerful draw for millions who have struggled with rising costs for housing, groceries and almost everything else. The nation’s largest retailer raised its full-year outlook. Walmart executives say the consumer may still be holding out for deals, but they’re not seeing signs that their customers are fraying either.

Retail spending was higher in July despite higher prices

( ) -q-18- UNDATED (Correspondent Jeremy House) “about eight-percent.”

Americans stepped up their spending at retailers last month by the most in a year and a half.

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Out-cue: about eight-percent]

TAG: Correspondent Jeremy House reporting. Excluding gas station sales, retail sales also rose 1%. Consumers have been pummeled since the pandemic by high prices and elevated interest rates. Yet at the same time, average wages have also been rising.

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VERBATIM: U.S. retail sales increased 1% from June to July after having declined slightly the previous month. Auto dealers, electronics and appliance stores and grocery stores all reported strong gains. Adjusted for inflation, sales rose about 0.8%.

Meta kills off misinformation tracking tool CrowdTangle

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

Facebook and Instagram parent Meta Platforms has shut down CrowdTangle. Correspondent Jeremy House reports.

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VERBATIM: It was a tool widely used by researchers, watchdog organizations and journalists to monitor social media posts, notably to track how misinformation spreads on its platforms. The shutdown was protested by researchers and nonprofits. Dozens of groups, including the Center for Democracy and Technology, the Digital Forensic Research Lab at the Atlantic Council and Human Rights Watch sent a letter to the company asking that it keep CrowdTangle running through at least January so it would be available through the U.S. presidential elections.

Top official says Fed can’t risk being too late with rate cuts

( ) -q-28- UNDATED (Correspondent Jeremy House) “a 23-year high.”

A top Federal Reserve official warned that the central bank needs to cut its key interest rate before the job market weakened further.

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Out-cue: a 23-year high]

TAG: Correspondent Jeremy House reporting. Most economists envision a modest quarter-point cut next month, with similar rate cuts to follow in November and December.

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VERBATIM: Austan Goolsbee, president of the Federal Reserve Bank of Chicago, tells the AP failure to do so means the Fed would risk moving too late and potentially imperil the economy. Goolsbee says because the Fed’s rate decisions typically affect the economy only after an extended time lag, it must avoid waiting too long before reducing rates. With inflation steadily easing, the Fed is widely expected to start cutting its benchmark rate next month from a 23-year high.

US inflation slowed again in July, clearing the way for rate cuts

A mild increase in consumer prices in July. According to the Labor Department, consumer prices rose 0.2% from June to July after dropping slightly the previous month for the first time in four years. Meanwhile, year-over-year inflation reached its lowest level in more than three years in July. It’s the latest sign that the worst price spike in four decades is fading and setting up the Federal Reserve for an interest rate cut in September.

Elliott seeks 10 of the 15 board seats at Southwest

( ) -q-29- UNDATED (Correspondent Jeremy House) “and Ireland’s Ryanair.”

Hedge fund Elliott Management is escalating its fight against the management of Southwest Airlines.

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Out-cue: and Ireland’s Ryanair]

TAG: Correspondent Jeremy House reporting.

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VERBATIM: Elliott says it plans to nominate 10 candidates for Southwest’s 15-member board of directors. Elliott accuses Southwest’s management and board of not acting strongly enough to reverse deteriorating financial results and a drop in the stock price. Elliott’s intended slate for the Southwest board includes former CEOs of Air Canada, Canadian low-cost carrier WestJet and Virgin America, as well as former senior executives at JetBlue and Ireland’s Ryanair.

Spending at small businesses rose in July

( ) -q-27- UNDATED (Correspondent Jeremy House) “U.S. small businesses.”

Consumers spent more at small businesses in July.

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Out-cue: U.S. small businesses]

TAG: Correspondent Jeremy House reporting. Compared with July of last year, sales rose 3.5% and number of transactions rose 3.3%. Retail spending rose 4.6% and retail transactions jumped 5.8%. General merchandise was the strongest category, up 10.9%.

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VERBATIM: It was a rebound fueled by strong sales of general merchandise and health aas well as personal care products. The Fiserv Small Business Index rose one point to 141 after a four point decline in June. The figure is derived from point-of-sale transaction data, including card, cash, and check transactions in-store and online across about 2 million U.S. small businesses.

Google rolls out Pixel 9 phones earlier than usual

( ) -q-29- UNDATED (Correspondent Jeremy House) “to reshape society.”

Google has unveiled its next generation of Pixel phones.

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Out-cue: to reshape society]

TAG: Correspondent Jeremy House reporting. The Pixel 9 phones are priced from $800 to $1,800. They will being shipping Aug. 22.

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VERBATIM: The launch provides the maker of Android software a head start on the next iPhone in the race to bring more artificial intelligence-services to devices that have become people’s constant companions. The showcase occurred two months earlier than the company typically rolls out the next models in its Pixel phone line-up. And Google left little doubt that the Pixel 9 phones are meant to be a vessel for the AI technology that is expected to reshape society.