Tesla recalling almost 700,000 vehicles due to tire pressure monitoring system issue

( ) -q-29- UNDATED (Correspondent Jeremy House) “of a crash.”

Tesla is recalling almost 700,000 vehicles because of an issue with the warning light on the tire pressure monitoring system.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: The automaker said that the recall includes certain 2024 Cybertruck, 2017-2025 Model 3, and 2020-2025 Model Y vehicles. The issue is that the tire pressure monitoring system warning light on the vehicles may not remain illuminated between drive cycles, failing to warn the driver of low tire pressure. Driving with improperly inflated tires can increase the risk of a crash.

More student loans canceled in Biden’s final round of forgiveness before leaving office

( ) -q-19- UNDATED (Correspondent Jeremy House) “office in January.”

President Biden’s administration is announcing another $4.28 billion dollars in student loan relief for nearly 55,000 public service workers.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: Public Service Loan Forgiveness promises to erase loans after 10 years of work in government or nonprofit jobs. Those jobs include teachers, nurses, service members and law enforcement officials. It’s expected to be the final round of public service-related forgiveness before Mr. Biden leaves office in January.

UK inflation increase solidifies expectations interest rates will be kept on hold

( ) -q-23- UNDATED (Correspondent Jeremy House) “with market expectations.”

Inflation in the U.K. has risen to its highest level since March.

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TAG: Correspondent Jeremy House reporting. This is the biggest increase since March and the second rise in two months and will likely cement market expectations that the Bank of England will keep its main interest rate unchanged at 4.75% after its policy meeting on Thursday.

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VERBATIM: It’s being driven by an increase in fuel prices last month. Britain’s Office for National Statistics says the consumer price inflation rose by 2.6% in the year to November. That’s up from 2.3% the previous month. The increase took inflation further away from the Bank of England’s target of 2%. It was in line with market expectations.

China’s CATL is planning a major expansion of battery swapping for electric vehicles

( ) — UNDATED (Correspondent Jeremy House) “built with partners.”

The world’s largest maker of batteries for electric vehicles says it will get into battery swapping in China in a big way starting next year.

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TAG: Correspondent Jeremy House reporting. If C-A-T-L follows through, it could rival Nio, a 10-year-old Chinese electric car brand that has opened more than 2,700 stations and has plans for at least 5,000.

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VERBATIM: The idea behind battery swapping is to refuel quickly, similar to filling a conventional car with gas. Instead of waiting for the batteries to recharge, one swaps out the old ones with a block of fresh ones at a swap station. China-based C-A-T-L announced plans to open 1,000 swap stations in China next year, including Hong Kong and Macao, with a long-term goal of 10,000 stations built with partners.

Nissan, Honda confirm talks on closer collaboration but say there’s been no decision on a merger

( ) -q-26- UNDATED (Correspondent Jeremy House) “price sank 2.3-percent.”

Japanese automakers Nissan and Honda have confirmed that they are discussing closer collaboration, but denied reports they have decided on a merger.

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TAG: Correspondent Jeremy House reporting. Nissan has an alliance with Renault SA that is under review. It recently announced it was slashing 9,000 jobs and cutting its global production by 20%.

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VERBATIM: Nissan’s share price soared more than 22% after reports citing unnamed sources said it might merge with Honda to form the world’s third largest automaking group. Trading in Nissan’s shares was suspended in Tokyo but then resumed after the companies issued a statement that said they were “considering various possibilities for future collaboration, but no decisions have been made.” Honda’s share price sank 2.3%.

Senate report alleges Amazon rejected warehouse safety recommendations due to productivity concerns

(   ) -v-36- UNDATED (Correspondent Jeremy House) “std.”

A U.S. Senate committee says at least two internal Amazon studies have found a relationship between worker speed and injuries in the online retailer’s warehouses. Correspondent Jeremy House reports.

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VERBATIM: A 160-page report issued by the Senate Committee on Health, Education, Labor, and Pensions alleges Amazon rejected many of the studies’ safety recommendations out of concern the proposed changes might reduce productivity. The report was the final product of a probe into Amazon’s warehouse safety practices that Vermont Senator Bernie Sanders initiated last year. Amazon responded by saying the report is “wrong on the facts and features selective, outdated information that lacks context and isn’t grounded in reality.”..JH, Washington.

Federal Reserve is likely to slow its rate cuts with inflation pressures still elevated

( ) -q-27- UNDATED (Correspondent Jeremy House) “Fed’s two-percent target.”

Americans hoping for lower borrowing costs for homes, credit cards and cars may be disappointed after this week’s Federal Reserve meeting.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: The Fed’s policymakers are likely to signal fewer interest rate cuts next year than were previously expected. The officials are set to reduce their benchmark rate, which affects many consumer and business loans, by a quarter-point to about 4.3% when their meeting ends Wednesday. The problem is that while inflation has dropped far below its peak of 9.1% in mid-2022, it remains stubbornly above the Fed’s 2% target.

Russia’s war on Ukraine is the subject of another round of E-U sanctions

( ) -v-37- UNDATED (Correspondent Jeremy House) “std.”

The European Union has imposed fresh sanctions on dozens of officials linked to Russia’s war on Ukraine. Correspondent Jeremy House reports.

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VERBATIM: Two top North Korean defense officials, a military unit blamed for an attack on a Kyiv children’s hospital and the heads of companies in the energy sector have been targeted. Measures have also been imposed on 52 ships that are part of the vast shadow fleet that Moscow is exploiting to skirt restrictions on transporting oil and gas, or carrying stolen Ukrainian grain. The E-U’s foreign policy chief says the “package of sanctions is part of our response to weaken Russia’s war machine and those who are enabling this war, also including Chinese companies.”..JH reporting.

As schools cut back on bus service, parents are turning to rideshare apps

( ) -q-29- UNDATED (Correspondent Jeremy House) “conducted in 2017.”

Reliance on school buses has been waning for years as districts struggle to find drivers and more students attend schools far outside their neighborhoods.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: As responsibility for transportation shifts to families, the question of how to replace the traditional yellow bus has become an urgent problem and a spark for innovation. Several startup companies have begun working with school systems to provide rideshare services. A 2023 Federal Highway Administration survey says only about 28% of U.S. students take a school bus. That is down from about 36% in the previous survey conducted in 2017.

2024 was big for bitcoin. States could see a crypto policy blitz in 2025 in spite of the risks

( ) -q-26- UNDATED (Correspondent Jeremy House) “lose their cash.”

The new year will usher in the bitcoin-friendly administration of President-elect Donald Trump and an expanding lobbying effort in statehouses.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: Together, they could push states to become more crypto-friendly and provide more public pension funds as well as treasuries to buy cryptocurrency. Proponents of the uniquely volatile commodity argue that it’s a valuable hedge against inflation, similar to gold. Critics say a crypto investment is highly speculative with so much unknown about projecting its future returns and warn that investors should be prepared to lose their cash.

Some in seafood industry see Trump as fishermen’s friend, but tariffs raise prices

(   ) -q-26- UNDATED (Correspondent Jeremy House) “protein more expensive.”

The incoming administration of President-elect Donald Trump is likely to bring big changes to seafood, one of the oldest sectors of the U.S. economy.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: Some in the industry believe the returning president will be more responsive to its needs. Many in the commercial fishing and seafood processing industries said they expect Mr. Trump will allow fishing in protected areas and will crack down on offshore wind expansion. Economic analysts fear Mr. Trump’s pending trade hostilities with major trading partners Canada and China could make an already pricy kind of protein more expensive.

China prepared to double down on support for the economy as Trump tariffs loom

( ) -q-20- UNDATED (Correspondent Jeremy House) “of economic growth.”

Chinese leaders met this week to plot economic policy for the coming year and sketched out plans to raise government spending and relax Beijing’s monetary policy.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: Analysts said the broad-brush plans from China’s annual Central Economic Work Conference were more of a recap of current policy than ambitious new initiatives. The ruling Communist Party did commit to raising China’s deficit. Party officials added they would be doing more to encourage consumer spending by bringing wage increases in line with the pace of economic growth.

Trump offers support for dockworkers union, speaks out against port automation

( ) -q-26- UNDATED (Correspondent Jeremy House) “and shipping companies.”

President-elect Donald Trump is offering his support for the dockworkers union before their contract expires next month at Eastern and Gulf Coast ports.

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TAG: Correspondent Jeremy House reporting. The Maritime Alliance says the technology will improve worker safety and strengthen our supply chains, among other things.

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VERBATIM: Mr. Trump posted on social media that he met with union leaders and that any further “automation” of the ports would harm workers. He wrote that the “amount of money saved is nowhere near the distress, hurt, and harm it causes for American Workers.” The International Longshoremen’s Association has until January 15 to negotiate a new contract with the U.S. Maritime Alliance, which represents ports and shipping companies.

US wholesale inflation accelerated in November in sign that some price pressures remain elevated

( ) -q-23- UNDATED (Correspondent Jeremy House) “since February 2023.”

Wholesale costs in the United States picked up sharply last month.

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TAG: Correspondent Jeremy House reporting. Higher food prices helped fuel the November wholesale inflation reading, which was higher than economists had expected.

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VERBATIM: The producer price index rose 0.4% in November. That was up from 0.3% the month before. November’s figure signals that price pressures are still evident in the economy even though inflation has tumbled from the peak levels it hit more than two years ago. Measured from 12 months earlier, wholesale prices climbed 3% in November, the sharpest year-over-year rise since February 2023.

Manchin, Sinema prevent Democrats from locking in majority on labor board through 2026

( ) -q-23- UNDATED (Correspondent Jeremy House) “nominate a replacement.”

Senate Democrats failed in their bid to confirm a Democratic member of the National Labor Relations Board.

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TAG: Correspondent Jeremy House reporting. The NLRB has the power to investigate potential unfair labor practices, meaning its leadership is highly scrutinized by business interests and labor groups.

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VERBATIM: The Senate voted down the nominee in a razor-thin vote that hinged on the pivotal rejections of independent Senators Joe Manchin of West Virginia and Kyrsten Sinema of Arizona. If the nomination had been successful, the board would have had a Democratic majority until 2026. President-elect Donald Trump will now have a chance to nominate a replacement.

Ontario premier says US energy exports will be cut off if Trump imposes sweeping tariffs on Canada

( ) -q-29- UNDATED (Correspondent Jeremy House) “imports as well.”

The premier of Canada’s most populous province says he will cut off energy to the United States if President-elect Donald Trump imposes sweeping tariffs on all Canadian products.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: Mr. Trump has threatened to impose a 25% tax on all products entering the U.S. from Canada and Mexico unless they stem the flow of migrants and drugs. Ontario Premier Doug Ford says his province would put a list together and other provinces would likely do so as well, to the extent of cutting off energy to the U.S. About 60% of U.S. crude oil imports are from Canada, and 85% of U.S. electricity imports as well.

New Jersey targets plastic packaging that fills landfills and pollutes

( ) -q-30- UNDATED (Correspondent Jeremy House) “that as unworkable.”

New Jersey is seeking to drastically reduce the amount of plastics and other packaging material that’s tossed out once a package is opened.

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TAG: Correspondent Jeremy House reporting. California, Colorado, Oregon, Maine, and Minnesota have already passed similar legislation.

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VERBATIM: Lots of packaging that keeps items safe during shipping routinely ends up in landfills or as environmental pollution. Among that packaging is bubble wrap, air-filled plastic pockets and even foam peanuts that easily spill all over the floor once a package is opened. A bill being taken up by the New Jersey legislature would require all such materials used in the state to be compostable or recyclable by 2034. Business groups oppose that as unworkable.

Inflation ticked up last month but price pressures remain far below their peak

( ) -q-26- UNDATED (Correspondent Jeremy House) “on interest rates.”

Fueled by pricier used cars, hotel rooms and auto insurance, inflation in the United States moved slightly higher last month.

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TAG: Correspondent Jeremy House reporting. The relatively mild increase won’t likely be enough to discourage Fed officials from cutting their key rate by a quarter-point.

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VERBATIM: The Labor Department says consumer prices rose 2.7% in November, up from a yearly figure of 2.6% in October. Excluding volatile food and energy costs, so-called core prices increased 3.3%, the same as in the previous month. The November inflation figures are the final major piece of data that Federal Reserve officials will consider before they meet next week to decide on interest rates.

GM to retreat from robotaxis and stop funding its Cruise autonomous vehicle unit

( ) -q-25- UNDATED (Correspondent Jeremy House) “competitive robotaxi market.”

General Motors says it will retreat from the robotaxi business and stop funding its money-losing Cruise autonomous vehicle unit.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: Instead the Detroit automaker will focus on development of partially automated driver-assist systems like its Super Cruise, which allows drivers to take their hands off the steering wheel. GM said it would get out of the robotaxis business because of what it described as the considerable time and resources that would be needed to scale the business. The company also cited an increasingly competitive robotaxi market.

Judges halt proposed Kroger and Albertsons grocery merger

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

The proposed $24.6 billion merger between supermarket giants Kroger and Albertsons has floundered after judges overseeing two separate cases both halted the deal.

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TAG: Correspondent Jeremy House reporting. Kroger and Albertsons say they are disappointed in the decisions and are reviewing their options.

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VERBATIM: A federal judge in Oregon temporarily blocked the proposed merger until an in-house administrative judge at the Federal Trade Commission considers it. Meanwhile, a judge in Washington state issued a permanent injunction barring the merger in that state, saying it lessens competition. Kroger and Albertsons in 2022 proposed what would be the largest grocery store merger in U.S. history. But the Federal Trade Commission and the state of Washington sued earlier this year.

Trump pledges expedited permits for $1B U.S. projects — but there are hurdles

( ) -q-19- UNDATED (Correspondent Jeremy House) “Environmental Policy Act.”

President-elect Donald Trump is promising expedited federal permits for energy projects and other construction worth more than $1 billion.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: Unlike other Trump plans, this idea is likely to run into regulatory and legislative hurdles. One of them is a landmark law that requires federal agencies to consider the environmental impact before deciding on major projects. Environmental groups called the plan a clear violation of the National Environmental Policy Act.

China’s C-A-T-L and Stellantis to jointly build EV battery factory in Spain

( ) -q-24- UNDATED (Correspondent Jeremy House) “for electric vehicles.”

Chinese electric battery giant C-A-T-L and automaker Stellantis say they will build a major battery factory in northern Spain.

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TAG: Correspondent Jeremy House reporting. Northvolt, Europe’s great hope for catching up, filed for bankruptcy last month.

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VERBATIM: The partners say that the plant, which will make lithium iron phosphate batteries, will be located in Zaragoza and start production by the end of 2026. C-A-T-L is already producing batteries at two European factories in Germany and Hungary. C-A-T-L and other Chinese battery makers are far ahead in the critical area of producing batteries for electric vehicles.

Biden’s approval of oil lease sale keeps door open to Alaska’s Arctic refuge drilling

( ) -q-20- UNDATED (Correspondent Jeremy House) “the Trump administration.”

The Biden administration has given approval for the sale of oil and gas leases in Alaska.

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TAG: Correspondent Jeremy House reporting. A 2017 law mandated lease sales in the refuge’s coastal plain by late 2024, but has not led to oil drilling yet. It’s unclear if that will change with approval for a new sale.

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VERBATIM: The approval leaves the door open for drilling in a portion of the pristine Arctic National Wildlife Refuge. The sale will be held next month, less than two weeks before Mr. Biden leaves office. It will include a fraction of the land total that was available for bidding roughly four years ago in a lease sale under the Trump administration.

Nvidia’s stock dips after China opens probe of the AI chip company

( ) -q-26- UNDATED (Correspondent Jeremy House) “their AI systems.”

Shares of Nvidia slipped on Tuesday after China said it is investigating the high-flying U.S. microchip company over suspected violations of Chinese anti-monopoly laws.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: Chinese regulators appear to be looking into Nvidia’s $6.9 billion 2019 acquisition of network and data transmission company Mellanox. Considered a bellwether for artificial intelligence demand, Nvidia has led the AI sector to become one of the stock market’s biggest companies. Meanwhile, tech giants are spending heavily on Nvidia’s chips and data centers which are needed to train and operate their AI systems.