Japan’s economy avoids recession by growing in last year’s final quarter

( ) -q-25- UNDATED (Correspondent Jeremy House) “quarters of contraction.”

Japan’s economy managed to grow in the fourth quarter of last year, averting a recession.

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TAG: Correspondent Jeremy House reporting. Real GDP is a measure of the value of a nation’s products and services. The annual rate measures what would have happened if the quarterly rate lasted a year.

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VERBATIM: According to revised government data that had previously shown a contraction, real gross domestic product grew in the October-to-December quarter at an annual pace of 0.4% instead of a contraction of 0.4%. The revision reflects an improvement in private capital investment. It also means Japan avoided sinking into a technical recession, generally defined as two straight quarters of contraction.

China’s congress ends with a show of unity behind Xi’s vision

( ) -q-21- UNDATED (Correspondent Jeremy House) “a top leader.”

China’s national congress has concluded its annual session with the usual show of near-unanimous support for the ruling Communist Party’s blueprint for the year.

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TAG: Correspondent Jeremy House reporting. The National People’s Congress approved a revised law that directs China’s cabinet to follow Xi’s vision.

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VERBATIM: The weeklong event has highlighted how China’s politics have become ever more calibrated to elevate leader Xi Jinping. The agenda lacked the usual news conference by the premier, who in the past was largely in charge of economic affairs as the party’s No. 2 leader. It was the one time each year when journalists could directly question a top leader.

Federal judge blocks labor board rule making it easier for workers to unionize

( ) -q-27- UNDATED (Correspondent Jeremy House) “the common law.”

A federal judge in Texas has blocked a new rule by the National Labor Relations Board that would have made it easier for millions of workers to form unions at big companies.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: The rule, which was due to go into effect Monday, would have set new standards for determining when two companies should be considered “joint employers” in labor negotiations. The U.S. Chamber of Commerce and other business groups sued in November to block the rule. U.S. District Court Judge J. Campbell Barker granted the plaintiffs’ motion for a summary judgement Friday after concluding that the NLRB’s new rule exceeds “the bounds of the common law.”

US employers add 275,000 jobs in sign of continued economic strength

( ) -q-26- UNDATED (Correspondent Jeremy House) “households and businesses.”

America’s employers delivered another healthy month of hiring in February.

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TAG: Correspondent Jeremy House reporting. Employers have continued to hire briskly to meet steady demand from consumers across the economy.

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VERBATIM: A surprising 275,000 jobs were added last month. That was up from a revised gain of 229,000 jobs in January. The unemployment rate ticked up two-tenths of a point to 3.9%. The Labor Department report reflected the job market’s sustained ability to withstand the 11 rate hikes the Federal Reserve imposed to fight inflation, which made borrowing much costlier for households and businesses.

Justice Department beefs up focus on artificial intelligence enforcement

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

The Justice Department is stepping up its focus on artificial intelligence. Correspondent Jeremy House reports.

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VERBATIM: Officials warn that companies and people who deliberately misuse AI technology to advance a white-collar crime like price fixing, fraud or market manipulation will be at risk for a harsher sentence. Deputy Attorney General Lisa Monaco says the Justice Department will take into account how well a company is managing the risks of AI technology each time it assesses a corporate compliance program. Such a program is a set of policies and procedures designed to detect misconduct and ensure executives and employees are following the law..JH, Washington.

School shootings prompt more states to fund digital maps for first responders

( ) -v-32- UNDATED (Correspondent Jeremy House) “std.”

Mass shootings at schools have prompted a growing number of states to encourage digital mapping to aid emergency responders. Correspondent Jeremy House has the details.

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VERBATIM: According to an Associated Press analysis, lawmakers in more than 20 states have enacted or proposed measures setting standards for digital school mapping. The analysis found companies specializing in such mapping have spent at least $1.4 million lobbying for legislation in recent years. The maps go beyond traditional blueprints to include aerial imagery and precise labeling of doors, hallways, utilities and numerous other features in buildings that could enable quicker responses in emergencies…JH reporting.

Alabama Senator Katie Britt Gives GOP Response To SOU

A big night for GOP Senator Katie Britt [R-Ala] who offered the GOP response to the president’s (State of the Union) address. At 42, Britt is the youngest Republican woman ever elected to the U.S. Senate. She says she was unimpressed by the President’s address. She says Biden proves he’s out of touch with problems facing American families..who she says are worse off, and less safe since he took office.

US applications for jobless claims hold at healthy levels

( ) -q-20- UNDATED (Correspondent Jeremy House) “most since November.”

U.S. applications for jobless benefits were unchanged last week.

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TAG: Correspondent Jeremy House reporting. Weekly unemployment claims are broadly viewed as representative of the number of U.S. layoffs in a given week.

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VERBATIM: The Labor Department says unemployment claims for the week ending March second were 217,000, matching the previous week’s revised level. In total, 1.9 million Americans were collecting jobless benefits during the week that ended February 24. That’s an increase of 8,000 from the previous week and the most since November.

Ex-Google engineer charged with stealing AI trade secrets

( ) -q-20- UNDATED (Correspondent Jeremy House) “in artificial intelligence.”

The Justice Department says a former software engineer at Google has been charged with stealing artificial intelligence technology from the company while secretly working with two companies based in China.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: Linwei Ding was arrested in Newark, California, on four counts of federal trade secret theft. Attorney General Merrick Garland as well as other law enforcement leaders have repeatedly warned about the threat of Chinese economic espionage. They also took note of the national security concerns posed by advancements in artificial intelligence.

To revive sales, candy companies pitch gum as stress reliever

( ) -q-29- UNDATED (Correspondent Jeremy House) “to calm herself.”

Gum makers are trying to figure out what will make Americans start chewing again.

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TAG: Correspondent Jeremy House reporting. Market research firm Circana says U.S. chewing gum sales rose less than 1% last year to 1.2 billion packages, which was still 32% fewer than in 2018.

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VERBATIM: Generational habits, health concerns and the coronavirus pandemic have gnawed away at gum sales. Some manufacturers are leaving the U.S. market altogether. But Mars, which owns the 133-year-old Wrigley brand, is trying to reposition gum as a stress reliever and a concentration aid as well as a breath freshener. A Mars executive says the “aha moment” came from a nurse in a hospital COVID-19 ward who chewed gum behind a mask to calm herself.

Apple is making big App Store changes in Europe over new rules

( ) -q-27- UNDATED (Correspondent Jeremy House) “for in-app transactions.”

Apple is opening small cracks in the iPhone’s digital fortress as part of a regulatory clampdown in Europe that’s striving to give consumers more choices.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: The opening is coming at the risk of creating new avenues for hackers to steal personal and financial information stored on the devices. The overhaul rolling out only in the Europe represents the biggest changes to the iPhone’s App Store since Apple introduced the concept in 2008. Among other things, people in Europe can download iPhone apps from stores that aren’t operated by Apple and are getting alternative ways to pay for in-app transactions.

AM SPORTSCAST 3-7

AM SPORTSCAST 3-7

OpenAI says Elon Musk agreed ChatGPT maker should become for profit

( ) -q-26- UNDATED (Correspondent Jeremy House) “a for-profit entity.”

OpenAI has shot back at accusations from Elon Musk that the ChatGPT maker betrayed its founding goals of benefiting humanity and chose to pursue profits and vowed to get his lawsuit thrown out.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: The company’s response has escalated the feud between the artificial intelligence company and the billionaire that bankrolled its creation years ago. Musk’s lawsuit said that when he invested in OpenAI, he secured an agreement that the company would remain a nonprofit developing technology for the benefit of the public. OpenAI said both the startup and Musk recognized the need for the company to become a for-profit entity.

Europe’s Digital Markets Act is forcing tech giants to make changes

( ) -q-20- UNDATED (Correspondent Jeremy House) “picks up speed.”

Europeans scrolling their phones and computers this week will get new choices for default browsers and search engines, where to download iPhone apps and how their personal online data is used.

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TAG: Correspondent Jeremy House reporting. The affected companies include Amazon, Apple, Google parent Alphabet, Meta, Microsoft and TikTok owner ByteDance.

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VERBATIM: They’re part of changes required under the Digital Markets Act. It’s a set of European Union regulations that six tech companies classed as “gatekeepers” will have to start following. Europe has been a global leader in reining in tech giants. The rules are kicking in as a global effort to crack down on the tech industry picks up speed.

Bitcoin briefly hits an all-time high, less than two years after FTX scandal

( ) -q-22- UNDATED (Correspondent Jeremy House) “ETF’s in January.”

Bitcoin has hit an all-time high less than two years after the collapse of the crypto exchange FTX severely damaged faith in digital currencies and sent prices plunging.

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TAG: Correspondent Jeremy House reporting. Gains in recent months have been fueled by the anticipation and eventual U.S. approval of bitcoin exchange traded funds earlier this year, which provided access to a much broader class of investors.

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VERBATIM: The world’s largest cryptocurrency jumped 4% this week and briefly surpassed $68,800 on Tuesday. That’s according to CoinMarketCap. That price is just above bitcoin’s previous record set in November 2021. The price for bitcoin has surged about 60% since the approval of bitcoin ETFs in January.

China’s manufacturing activity contracts for 5th straight month

( ) -q-28- UNDATED (Correspondent Jeremy House) “50.7 in January.”

An official survey of factory managers shows manufacturing in China contracted for a fifth consecutive month in February.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: It’s a reflection of persistent weakness in China’s economy ahead of annual legislative meetings where officials are expected to boost policy support. The official purchasing managers index fell to 49.1 in February from 49.2 the month before. Meanwhile, the non-manufacturing PMI, which measures activity in sectors such as services and construction, rose to 51.4 from 50.7 in January.

Health care tech company hack leads to billing delays, security concerns

( ) -q-25- UNDATED (Correspondent Jeremy House) “are using workarounds.”

A massive U.S. health care technology company says it was attacked by the ransomware group ALPHV, also known as Blackcat.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: Change Healthcare first acknowledged the attack last week. It is affecting health care providers across the country. Mostly it is threatening the security of patients’ information and paychecks for medical workers, and also may disrupt discharging patients from the hospital. The American Hospital Association says the attack is affecting patients’ ability to get the medications they need, though pharmacies are using workarounds.

European inflation eases to 2.6% as energy prices and food inflation drop

( ) -q-31- UNDATED (Correspondent Jeremy House) “is taking time.”

Inflation just keeps dropping in Europe.

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TAG: Correspondent Jeremy House reporting. Food inflation eased to 4% from 5.6%, offering some relief to people on modest incomes who spend more of their pay on necessities than the well-off. Another factor was energy prices, which fell by 3.7%

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VERBATIM: The consumer price index for Europe fell to 2.6 in February from 2.8% the month before. Falling oil and gas prices played a role, and food inflation isn’t as bad as it was. Inflation is now far below its peak of 10.6% in October 2022, which it hit after Russia cut off most supplies of natural gas and sent energy prices through the roof. But the return of inflation to 2%, the goal set by the European Central Bank, is taking time.

US applications for jobless benefits rise but remain historically low despite recent layoffs

( ) -q-28- UNDATED (Correspondent Jeremy House) “most since November.”

More Americans applied for jobless benefits last week.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: The Labor Department says applications for unemployment benefits rose by 13,000 to 215,000 for the week ending February 24th. Despite the increase, layoffs remain historically low even as more high-profile companies have announced job cuts this year. In total, 1.9 million Americans were collecting jobless benefits during the week that ended February 17, up 45,000 from the previous week and the most since November.

Better protecting Americans’ personal data is the goal of an executive ordered signed by President Biden

( ) -q-27- UNDATED (Correspondent Jeremy House) “Americans’ sensitive data.”

President Biden has signed an executive order aiming to better protect Americans’ personal data.

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TAG: Correspondent Jeremy House reporting. The goal is to make sure the safeguards do not limit legitimate commerce around data.

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VERBATIM: That data includes everything from biometrics and health records to finances and geolocation from foreign adversaries like China and Russia. The order seeks to authorize the attorney general and other federal agencies to prevent the large-scale transfer of Americans’ personal data to what the White House calls “countries of concern.” It also erects safeguards around other activities that can give those countries access to Americans’ sensitive data.

NYC’s plan to ease gridlock and pump billions into mass transit? A $15 toll for Manhattan drivers

( ) -q-24- UNDATED (Correspondent Jeremy House) “congestion parking schemes.”

New York city officials are hoping to get people out of their cars and onto mass transit.

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TAG: Correspondent Jeremy House reporting. Those international cities include London, Stockholm, Milan and Singapore.

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VERBATIM: Between bridge and tunnel tolls and parking fees, it can already cost a lot to drive a car into Manhattan. The Big Apple is close to implementing a plan that would use license-plate readers to turn all of Manhattan south of Central Park into one giant toll zone. If the plan is finalized, New York would become the first U.S. city to join a handful of others globally with similar congestion pricing schemes.

Biden administration to investigate national security risks posed by Chinese-made ‘smart cars’

( ) -q-26- UNDATED (Correspondent Jeremy House) “to national security.”

The Biden administration will investigate potential national security risks posed by Chinese-made “smart cars” that can gather sensitive information about Americans driving them.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: The probe could lead to new regulations aimed at preventing China from using sophisticated technology in electric cars and other so-called connected vehicles to track drivers and their personal information. While the action stops short of a ban on Chinese imports, President Biden said he is taking unprecedented steps to safeguard Americans’ data. He said Chinese cars could flood the U.S. market, posing risks to national security.

Starbucks and Workers United, long at odds, say they’ll restart labor talks

( ) -q-21- UNDATED (Correspondent Jeremy House) “with the company.”

Starbucks and the union organizing its U.S. workers say they have agreed to begin talks with the aim of reaching labor agreements.

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TAG: Correspondent Jeremy House reporting. In separate statements, Starbucks and Workers United said they have a shared commitment to establishing a positive relationship with their workers.

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VERBATIM: The announcement was a breakthrough for the two sides, which have been at odds since Workers United first organized baristas at a Starbucks store in Buffalo, New York, in late 2021. Workers have voted to unionize at more than 370 company-owned Starbucks stores in the U.S. However, none of those stores has reached a labor agreement with the company.

US and UK hit Iranian deputy commander and Houthi member with sanctions

( ) -q-20- UNDATED (Correspondent Jeremy House) “business with Americans.”

The U.S. and United Kingdom have sanctioned a deputy commander of Iran’s Islamic Revolutionary Guard Corps and a Houthi militant member.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: The U.S. has also sanctioned firms registered in Hong Kong and the Marshall Islands, along with two ships. One of those ships transported $100 million in Iranian commodities to China. The sanctions block access to U.S. property and bank accounts and prevent the targeted people and companies from doing business with Americans.