Despite healthy economic indicators, lower-income spenders are showing the strain

( ) -q-20- UNDATED (Correspondent Jeremy House) “pressure to come.”

Cracks are showing in one of the main pillars keeping the economy out of a recession: resilient spending by U.S. households.

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TAG: Correspondent Jeremy House reporting. Much of the commentary recently has come from big food and drink companies. Upcoming reports from Walmart, Dollar General and other retailers will offer more details.

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VERBATIM: Consumer goods giants from PepsiCo to Kraft Heinz have been describing recently how the combination of high inflation and higher interest rates is hurting their lower-income customers. Overall spending by U.S. consumers remains healthy. However, weakness at the bottom end of the income spectrum could be a warning signal of more pressure to come.

Montana Senator Tester First Democrat To Co-Sponsor Laken Riley Act

Sen. Rick Scott: Biden Now Part of Pro-Hamas Wing Of Democrat Party

Likely Senate GOP Leader Cornyn Blasts Biden Threat To Cut Arms Shipments To Israel

US weekly jobless claims rise to highest level since August of 2023

( ) -q-20- UNDATED (Correspondent Jeremy House) “of August 2023.”

It’s another sign that the labor market may be softening.

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TAG: Correspondent Jeremy House reporting. In total, 1.79 million Americans were collecting jobless benefits during the week that ended April 27. That’s up 17,000 from the previous week. Weekly unemployment claims are considered a proxy for the number of U.S. layoffs in a given week.

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VERBATIM: The number of Americans applying for unemployment benefits jumped to its highest level in more than eight months last week. The Labor Department reports unemployment claims for the week ending May 4 rose by 22,000 to 231,000. Last week’s claims were the most since the final week of August 2023.

AstraZeneca pulls its COVID-19 vaccine from the European market

( ) -q-25- UNDATED (Correspondent Jeremy House) “clots were detected.”

The pharma giant AstraZeneca has requested that the European authorization for its COVID-19 vaccine be pulled.

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TAG: Correspondent Jeremy House reporting. Studies have since shown messenger RNA COVID vaccines to be more effective and AstraZeneca’s shot is rarely used globally.

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VERBATIM: In an update on the European Medicines Agency’s website, the regulator said that the approval for AstraZeneca’s Vaxzevria had been withdrawn at the company’s request. AstraZeneca’s vaccine was first approved by the EMA in January 2021. But within weeks, concerns grew about the vaccine’s safety, when dozens of countries suspended the vaccine’s use after rare blood clots were detected.

Gun thefts from cars are at triple the rate they were 10 years ago

( ) -q-25- UNDATED (Correspondent Jeremy House) “secure their firearms.”

The rate of guns stolen from cars in the U.S. has tripled over the last decade, making them the largest source of stolen guns in the country.

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TAG: Correspondent Jeremy House reporting. The findings are in a report provided to The Associated Press that analyzed FBI data from 337 cities in 44 states.

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VERBATIM: An analysis of FBI data by the gun safety group Everytown shows the rate of stolen guns from cars climbed nearly every year. It also spiked during the coronavirus pandemic along with a major surge in weapons purchases. The director of the Bureau of Alcohol, Tobacco, Firearms and Explosives says the alarming trend underscores the need for Americans to safely secure their firearms.

Japanese automaker Nissan reports 92% jump in profit as sales surge

( ) -q-22- UNDATED (Correspondent Jeremy House) “sports-utility vehicle.”

Nissan’s profit for the fiscal year through March has jumped 92% to 426.6 billion yen, or $2.7 billion.

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TAG: Correspondent Jeremy House reporting. Nissan sold 3.44 million vehicles globally for the year, up from 3.3 million vehicles the year before. Nissan has said it will mass produce electric vehicles powered by next-generation batteries by early 2029, offering solid-state batteries in a range of models, including pickup trucks.

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VERBATIM: The Japanese automaker’s sales grew in all major global markets except China. Nissan reported annual sales surged nearly 20%. Quarterly profit edged down slightly, while quarterly sales rose 13%. Nissan hopes to maintain its leadership in electric vehicles in the Japanese market with its Ariya sports-utility vehicle.

Senator Graham: Trump Re-election Would Put End To Anti-Jewish Protests

Progressive Fetterman Breaks Ranks With Left, Defends Israel, Blames Hamas

Rep. Mike Waltz: Biden Mining Regulations Threaten U.S. Defense

Senator Braun Wins Indiana’s GOP Gubernatorial Primary

Senator Marshall Amendment Would Place Antisemitic Protestors on No Fly List

Trump Endorsement Of MAGA Utah Senate Candidate Worries GOP

Senators Marshall, Blackburn Propose No Fly List For Antisemitic Protestors

Senators Roger Marshall of Kansas and Marsha Blackburn of Tennessee have unveiled a bill they call the NO FLIGHTS FOR TERRORISTS ACT. It would place on the No Fly list any student, faculty member, professor or paid agitator if they have called for violence against Jewish people, been disciplined by a school for such activity, or for pledging allegiance to terrorist groups. Marshall says under the Biden administration the protestors are promoting terrorism with no fear of consequences. 

Workers at Michigan Stellantis plant authorize strike over health, safety

( ) -q-24- UNDATED (Correspondent Jeremy House) “and Jeep Wagoneer.”

The United Auto Workers union says over 1,000 workers at a Stellantis metal stamping plant in Warren, Michigan, have voted to authorize a strike over health and safety issues.

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TAG: Correspondent Jeremy House reporting. Stellantis said it is committed to a safe work environment and to resolving the dispute without a work stoppage.

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VERBATIM: No word from the union on whether a deadline had been set. However, Stellantis says talks are ongoing and workers are still on the job. The UAW says grievances have been filed about problems with ventilation fans, personal protective equipment, flooding, oil leaks and other issues. The UAW says a strike could affect production of the Ram pickup, Jeep Wrangler and Jeep Wagoneer.

Redfin to pay $9.25 million to settle real estate broker commission lawsuits

( ) -q-27- UNDATED (Correspondent Jeremy House) “in recent months.”

Redfin has agreed to pay $9.25 million to settle several federal lawsuits.

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TAG: Correspondent Jeremy House reporting. The Seattle-based online brokerage and real estate services company disclosed the proposed settlement in a regulatory filing with the Securities and Exchange Commission.

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VERBATIM: The lawsuits claim U.S. homeowners were saddled with artificially inflated broker commissions when they sold their home as a result of longstanding real estate industry practices. The settlement would resolve pending class action lawsuits filed in federal court in the Western District of Missouri, and also shield the company and agents from similar cases around the country. Several other big brokerage operators and the National Association of Realtors agreed to settle the litigation in recent months.

Former CEO says Starbucks needs to refocus on coffee as sales struggle

( ) -q-19- UNDATED (Correspondent Jeremy House) “support of Israel.”

Former Starbucks CEO Howard Schultz says the company’s leaders should spend more time in stores and focus on coffee drinks as they work to turn around flagging sales.

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TAG: Correspondent Jeremy House reporting. Schultz left Starbucks’ board last fall but remains the company’s largest individual shareholder.

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VERBATIM: Schultz said many people had reached out to him after Starbucks reported weaker-than-expected quarterly sales and earnings last week. Starbucks says it’s seeing slower traffic around the world as U.S. and Chinese customers pull back on spending. It’s also facing boycotts in some markets for its perceived support of Israel.

Lawsuit against Meta centers on Facebook users’ control of their feeds

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

Do social media users have the right to control what they see — or don’t see — on their feeds? Correspondent Jeremy House reports.

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VERBATIM: A lawsuit filed against Facebook parent Meta Platforms is arguing that a federal law often used to shield internet companies from liability also allows people to use external tools to take control of their feed — even if that means shutting it off entirely. The Knight First Amendment Institute at Columbia University filed a lawsuit last week against Meta Platforms on behalf of an Amherst professor. The professor wants to release a tool to let users un-follow all the content fed to them by Facebook’s algorithm.

Hungary and Serbia’s autocratic leaders to roll out red carpet for China’s Xi

( ) -q-16- UNDATED (Correspondent Jeremy House) “President Vladimir Putin.”

Chinese leader Xi Jinping will spend the bulk of his five-day tour in Europe this week in two small countries at the continent’s eastern half.

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TAG: Correspondent Jeremy House reporting. Mainstream European leaders have pursued more protectionist policies to limit Beijing and Moscow’s reach on the continent. But the governments of Viktor Orbán of Hungary and Aleksandar Vucic of Serbia have vigorously courted economic ties with China.

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VERBATIM: It’s a region Beijing has used as a foothold for its expanding economic ambitions in Europe. After visiting Paris, Xi will travel to Hungary and Serbia. The two nations have autocratic leaders that are seen as China-friendly and close to Russian President Vladimir Putin.

Commercial jet maker Airbus stays humble even as Boeing flounders

( ) -q-18- UNDATED (Correspondent Jeremy House) “its best-selling plane.”

Europe’s Airbus had established a clear sales lead over Boeing.

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TAG: Correspondent Jeremy House reporting. Aviation analysts say the European company is unlikely to extend its advantage much further despite having customers clamoring for more commercial aircraft. That’s because Airbus already is making planes as fast as it can and is sold out for the rest of the decade. Manufacturing constraints at both companies are bad news for travelers as well as airlines.

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VERBATIM: This development occurred even before the American company encountered more fallout from manufacturing troubles and ongoing safety concerns. Airbus has outpaced Boeing for five straight years in plane orders and deliveries. And now Boeing is facing a government-mandated production cap on its best-selling plane.

US employers scaled back hiring in April. How that could let the Fed cut interest rates

(   ) -q-25- UNDATED (Correspondent Jeremy House) “pace of hiring.”

The nation’s employers pulled back on their hiring in April, adding a modest 175,000 jobs.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: It’s a sign that persistently high interest rates may be starting to take a bigger toll on the world’s largest economy. Last month’s hiring gain was down sharply from the increase of 315,000 in March. And it was well below the 233,000 gain that economists had predicted for April. Last month’s figure suggests that the Federal Reserve’s aggressive streak of rate hikes may finally be cooling the pace of hiring.

E-waste is overflowing landfills. At one sprawling Vietnam market, workers recycle some of it

( ) -q-28- UNDATED (Correspondent Jeremy House) “could help both.”

The world is producing more electronic waste than ever.

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TAG: Correspondent Jeremy House reporting. In Vietnam, an army of mostly women waste collectors collect discarded electronic devices from homes and bins on street corners.

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VERBATIM: 62 million metric tons in 2022 to be exact…and it’s growing faster than formal efforts to recycle it. Some gets picked up by a web of low-paid workers who pull apart old laptops, scarred mobile phones, television remotes and other items to get valuable materials inside. But informal waste workers face health risks and insecure livelihoods. Experts say collaborations between the informal and formal sector could help both.

Apple’s quarterly iPhone sales plunge 10%, but stock price surges on dividend, stock buyback news

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

Apple has posted its steepest quarterly decline in iPhone sales since the pandemic’s outset. Correspondent Jeremy House reports.

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VERBATIM: The results reflect a deepening slump that’s increasing the pressure on the trendsetting company to spruce up its products with more artificial intelligence. The 10% drop in year-over-year iPhone sales for the January-to-March period is latest sign of weakness in a product that generates most of Apple’s revenue. It marked the biggest drop in iPhone sales since July-to-September period in 2020. That’s when production bottlenecks caused by factory closures during the pandemic resulted in a delayed release of the new model that year…JH reporting.