Economic growth increased last quarter to a healthy 2.8% annual rate

( ) -q-23- UNDATED (Correspondent Jeremy House) “pace of growth.”

The nation’s economy accelerated last quarter at a 2.8% annual pace.

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TAG: Correspondent Jeremy House reporting. Despite last quarter’s uptick, the U.S. economy, the world’s largest, has cooled in the face of the highest borrowing rates in decades, engineered by the Federal Reserve to fight high inflation.

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VERBATIM: Consumers and businesses helped drive growth despite the pressure of continually high interest rates. The gross domestic product picked up in the April-to-June quarter after growing at a 1.4% pace in the January-to-March period.  Growth last quarter also picked up because businesses increased their inventories. Economists had expected a weaker 1.9% annual pace of growth.

Nissan lowers its profit forecast amid incentive, inventory woes

( ) -q-25- UNDATED (Correspondent Jeremy House) “187-million dollars.”

Nissan has lowered its full fiscal year outlook.

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TAG: Correspondent Jeremy House reporting. Nissan shares fell 7% in Tokyo on Thursday. Such challenges came despite global vehicle sales holding steady at 787,000, according to Nissan. Quarterly sales edged up 3%. The need to optimize inventory also chipped away at profitability.

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VERBATIM: The action comes after the Japanese automaker reported a 73% decline in profit in the April-to-June quarter compared to the previous year. Chief Executive Makoto Uchida called the results “very challenging,” blaming sales incentives and marketing expenses amid intense competition, especially in the U.S. market. Nissan’s fiscal first quarter profit declined to $187 million.

US files details of Boeing’s plea deal related to plane crashes

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

The Justice Department has filed an agreement with Boeing. Correspondent Jeremy House has more on the story.

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VERBATIM: Under the agreement, Boeing will plead guilty to a fraud charge for misleading regulators who approved the 737 Max jetliner before two of the planes crashed, killing 346 people. The American aerospace company and the Justice Department reached a deal on the guilty plea and the agreement’s broad terms earlier this month. U.S. District Judge Reed O’Connor can accept the agreement and the sentence worked out between Boeing and prosecutors, or he could reject it. Some of the passengers’ relatives plan to ask the judge to deny the plea deal…JH reporting.

Ford’s stock plunges after Q2 profits take a hit

( ) -q-16- UNDATED (Correspondent Jeremy House) “stock sell off.”

Ford Motor’s second-quarter net income fell 4.7% from a year ago as the company’s combustion engine unit saw pretax profits decline due to stubbornly high warranty costs.

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TAG: Correspondent Jeremy House reporting. Ford reported $47.8 billion in revenue for the quarter, a 6.3% increase over the $44.95 billion in the second quarter of 2023.

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VERBATIM: The Dearborn, Michigan, automaker says it made $1.83 billion from April through June. Excluding one-time items, Ford made 47 cents per share, far below analysts’ estimates of 68 cents. The profit drop caused a stock sell off.

Netanyahu Address Coincides With Deep US Divisions On Israel

Convicted Senator Bob Menendez To Resign August 20th

Top Congressional Democrats Rally Behind Harris

Harris WH Run Opens New Vulnerabilities For Down Ballot Democrats

Endorsements Mount For VP Harris As Democratic Nominee

Democrats, Republicans Call For Resignation Of Secret Service Chief

Joe Manchin Says He Will Not Run For President

Schumer Calls Biden A “True Patriot” For Ending Re-election Bid

Manchin Final Straw For Joe Biden Edit Campaign?

Tester Becomes Second Senate Democrat Calling On Biden To Drop Out

Evangelist Franklin Graham Prays For Trump Safety At RNC

Champions Of Earthly, Heavenly Warfare Take Stage At RNC

Republican Election Point Man Calls For New Senate Leadership

More Americans apply for jobless benefits

( ) -q-24- UNDATED (Correspondent Jeremy House) “the previous week.”

U.S. filings for unemployment benefits rose again last week and appear to be settling consistently at a slightly higher level.

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TAG: Correspondent Jeremy House reporting. Weekly unemployment claims are widely considered as representative of layoffs.

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VERBATIM: The Labor Department reports jobless claims for the week ending July 13th rose by 20,000 to 243,000. The total number of Americans collecting unemployment benefits rose after declining last week for the first time in 10 weeks. About 1.87 million Americans were collecting jobless benefits for the week of July 6, around 20,000 more than the previous week.

Nokia sees double-digit fall in Q2 profit, sales in weak 5G market

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

Wireless and fixed-network equipment maker Nokia has reported a double-digit fall in profit and sales in the second quarter.

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TAG: Correspondent Jeremy House reporting. Nokia has suffered in the past year from operators cutting back on investments into 5G and other telecom technology because of economic uncertainty and high financing costs.

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VERBATIM: The drop is attributable to a continuing weak market as clients are holding off investments in 5G technology. The Espoo, Finland-based company, reported Thursday a net profit of 328 million euros for the April-to-June period. That’s down 20% from 409 million euros a year earlier. Net income attributable to shareholders was 325 million euros, down from 410 million euros a year earlier.

United Airlines Q2 profit rises to $1.32 billion amid travel demand

( ) -q-21- UNDATED (Correspondent Jeremy House) “prices from rising.”

United Airlines has reported higher profit in the second quarter, thanks to record crowds at U.S. airports.

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TAG: Correspondent Jeremy House reporting. Airlines are trimming their schedules for mid-August and beyond, which United says will help reduce the oversupply of flights.

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VERBATIM: United said its profit rose 23% to $1.32 billion in the three-month period that ended June 30. However, the airline warned that its third-quarter results will fall short of Wall Street expectations. That’s because airlines are adding more flights than the market can handle, creating a glut of seats that is keeping prices from rising.

John Deere ends support of ‘social or cultural awareness’ events

( ) -q-28- UNDATED (Correspondent Jeremy House) “companies across industries.”

Farm equipment maker John Deere says it will no longer sponsor “social or cultural awareness” events.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: The announcement makes the agricultural machinery manufacturer one of the latest U.S. companies to distance itself from diversity and inclusion measures. Deere’s move arrives just weeks after rural retailer Tractor Supply ended an array of its corporate diversity and climate efforts. While the companies’ responses differed, both were made amid a wider backdrop of conservative backlash that has been targeting companies across industries.

Aging bridges in 16 states will be improved or replaced

(   ) -q-25- UNDATED (Correspondent Jeremy House) “and Harrisburg, Pennsylvania.”

Federal transportation officials are providing $5 billion to replace or improve aging bridges in 16 states.

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TAG: Correspondent Jeremy House reporting. More than 42,000 bridges across the U.S. are in poor condition, and they are on average 70 years old.

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VERBATIM: The grants come from a $1 trillion infrastructure package President Biden signed into law in 2021. The largest project provides an additional $1.4 billion to help replace two bridges carrying Interstate 5 traffic over the Columbia River between Oregon and Washington. Other projects receiving $500 million or more include bridges in Mobile, Alabama and Harrisburg, Pennsylvania.

IMF: Brighter economic outlook for China, India but tepid global growth

( ) -q-25- UNDATED (Correspondent Jeremy House) “growth in 2023.”

The International Monetary Fund has upgraded its economic outlook this year for China, India and Europe while modestly lowering expectations for the United States and Japan.

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TAG: Correspondent Jeremy House reporting. From 2000 through 2019, before the pandemic upended economic activity, global growth had averaged 3.8% a year.

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VERBATIM: The IMF says worldwide progress against accelerating prices has been slowed by stickier-than-expected inflation for services, from airline travel to restaurant meals. Overall, the IMF still expects the world economy to grow a lackluster 3.2% this year. That would be unchanged from its previous forecast in April and down a tick from 3.3% growth in 2023.

UK inflation stays at 2% target in June

( ) -q-19- UNDATED (Correspondent Jeremy House) “decline to 1.9-percent.”

Inflation in the U.K. held steady at the Bank of England’s target rate of 2% in June.

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TAG: Correspondent Jeremy House reporting. Financial markets think it’s going to be a close call as to whether the Bank of England will reduce its main interest rate from 5.25% on August first.

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VERBATIM: Britain’s Office for National Statistics says the largest upward contribution came from restaurants and hotels. The biggest downward contribution came from clothing and footwear, with widespread sales during the month. The flat annual reading compared to June a year ago was slightly higher than expected. Most economists had anticipated a modest decline to 1.9%