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.

[CutID: <Cuts> CPI-house-q-WEDam.mp3
Time: 26s
Title: CPI-house-q-WEDam
Out-cue: on interest rates]

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.

[CutID: <Cuts> GM-ROBOTAXIS-house-q-WEDam.mp3
Time: 25s
Title: GM-ROBOTAXIS-house-q-WEDam
Out-cue: competitive robotaxi market]

TAG: Correspondent Jeremy House reporting.

———————–
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.

[CutID: <Cuts> KROGER-ALBERTSONS-house-q-WEDam.mp3
Time: 28s
Title: KROGER-ALBERTSONS-house-q-WEDam
Out-cue: earlier this year]

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.

[CutID: <Cuts> TRUMP-FEDERAL-PERMITS-house-q-WEDam.mp3
Time: 19s
Title: TRUMP-FEDERAL-PERMITS-house-q-WEDam
Out-cue: Environmental Policy Act]

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.

[CutID: <Cuts> CHINA-CATL-house-q-TUEam.mp3
Time: 24s
Title: CHINA-CATL-house-q-TUEam
Out-cue: for electric vehicles]

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.

[CutID: <Cuts> BIDEN-OIL-LEASE-SALE-house-q-TUEam.mp3
Time: 20s
Title: BIDEN-OIL-LEASE-SALE-house-q-TUEam
Out-cue: the Trump administration]

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.

—————————–
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.

[CutID: <Cuts> NVIDIA-CHINA-house-q-TUEam.mp3
Time: 26s
Title: NVIDIA-CHINA-house-q-TUEam
Out-cue: their AI systems]

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.

Political chaos in France and Germany could hamper Europe’s economy

( ) -q-22- UNDATED (Correspondent Jeremy House) “Vladimir Putin’s Russia.”

Europe’s economy has enough difficulties, from tepid growth to trade tensions with the U.S.

[CutID: <Cuts> EUROPE-ECONOMY-house-q-MONam.mp3
Time: 22s
Title: EUROPE-ECONOMY-house-q-MONam
Out-cue: Vladimir Putin’s Russia]

TAG: Correspondent Jeremy House reporting.

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VERBATIM: Dealing with those woes is only getting harder due to the political chaos in the two biggest European countries, France and Germany. Neither has a government backed by a functioning majority, and France could take a while yet to sort things out. But some problems aren’t going to wait, such as how to fund a stronger defense against Vladimir Putin’s Russia.

Chinese leaders pledge ‘moderately loose’ monetary policy

( ) -q-22- UNDATED (Correspondent Jeremy House) “the country’s exports.”

China’s top leaders have pledged to loosen monetary policy and provide more support for the slowing economy.

[CutID: <Cuts> CHINA-ECONOMY-house-q-MONam.mp3
Time: 22s
Title: CHINA-ECONOMY-house-q-MONam
Out-cue: the country’s exports]

TAG: Correspondent Jeremy House reporting.

————————
VERBATIM: Shares in Hong Kong jumped after state media released a report on a meeting by China’s ruling Communist Party’s Politburo. That gathering sets the tone for an annual economic planning meeting later in the week to reaffirm policies for the coming year. Meanwhile, China’s Premier slapped back at threats of more tariffs on the country’s exports.

Those hit hardest often don’t have a say in opioid settlements

( ) -q-20- UNDATED (Correspondent Jeremy House) “fight the crisis.”

People with substance use disorder are not getting a direct say on how most opioid settlement money is used.

[CutID: <Cuts> OPIOID-SETTLEMENT-house-q-MONam.mp3
Time: 20s
Title: OPIOID-SETTLEMENT-house-q-MONam
Out-cue: fight the crisis]

TAG: Correspondent Jeremy House reporting. Figuring out exactly to do with the money is up to state and local governments that have used a variety of structures to make those decisions.

———————————
VERBATIM: Some advocates say keeping them out of the process is a major reason money is going to law enforcement efforts instead of other programs more likely to prevent overdose deaths. Companies have agreed to pay more about $50 billion over time to resolve lawsuits filed by governments. Most of the money is required to be used to fight the crisis.

US added a strong 227,000 jobs in November

(   ) -q-21- UNDATED (Correspondent Jeremy House) “up to 4.2-percent.”

America’s job market rebounded in November.

[CutID: <Cuts> JOBS-REPORT-house-q-FRIam.mp3
Time: 21s
Title: JOBS-REPORT-house-q-FRIam
Out-cue: up to 4.2-percent]

TAG: Correspondent Jeremy House reporting. Friday’s government report provided the latest evidence that the U.S. job market remains durable even though it has lost significant momentum from the 2021-2023 hiring boom.

—————————–
VERBATIM: The Labor Department says employers added 227,000 workers in a solid recovery from October. That was when the effects of strikes and hurricanes had sharply diminished employers’ payrolls. Last month’s hiring growth was up considerably from a meager gain of 36,000 jobs in October. The unemployment rate ticked up to 4.2%.

EPA hails ‘revitalized’ enforcement efforts as Biden administration heads to exit

(   ) -v-33- UNDATED (Correspondent Jeremy House) ”

The Environmental Protection Agency says it concluded more than 1,850 civil cases this year, a 3.4% increase over 2023. Correspondent Jeremy House reports.

[CutID: <Cuts> EPA-CIVIL-CASES-house-v-FRIam.mp3
Time: 33s
Title: EPA-CIVIL-CASES-house-v-FRIam
Out-cue: std]

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VERBATIM: The agency charged 121 criminal defendants, a 17.6% increase over the previous year and also issued $1.7 billion in financial penalties, more than double last year’s total. Enforcement efforts included first-ever criminal charges for a California man accused of smuggling climate-damaging air coolants into the United States. Engine maker Cummins paid more than $2 billion in fines and penalties after it was found to use illegal software to skirt diesel emissions tests.

China’s ban on high-tech materials could have broad impact

(   ) -q-27- UNDATED (Correspondent Jeremy House) “equipment and components.”

China has banned exports of key materials used for a wide range of products, including smartphones, electric vehicles, radar systems and CT scanners.

[CutID: <Cuts> CHINA-MATERIALS-BAN-house-q-FRIam.mp3
Time: 27s
Title: CHINA-MATERIALS-BAN-house-q-FRIam
Out-cue: equipment and components]

TAG: Correspondent Jeremy House reporting.

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VERBATIM: The ban is in response to Washington’s expandsion of export controls to include dozens of Chinese companies that make equipment used to produce computer chips. Both sides say the controls are justified by national security concerns. Analysts say they could have a much wider impact on manufacturing in many industries and supply chains, depending on the ability of each side to compensate for loss of access to strategically important materials, equipment and components.

Japan’s Nippon Steel sets sights on a growing overseas market

( ) -q-21- UNDATED (Correspondent Jeremy House) “and American steelworkers.”

The signs at Nippon Steel read: “The world through steel,” underlining why Japan’s top steelmaker is pursuing its $15 billion bid to acquire U.S. Steel.

[CutID: <Cuts> NIPPON-US-STEEL-house-q-FRIam.mp3
Time: 21s
Title: NIPPON-US-STEEL-house-q-FRIam
Out-cue: and American steelworkers]

TAG: Correspondent Jeremy House reporting. If the deal goes through, U.S. Steel will keep its name and its headquarters in Pittsburgh, Pennsylvania, but become subsidiary of Nippon Steel.

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VERBATIM: Japan’s domestic market isn’t growing, so Nippon Steel has its eyes on India, Southeast Asia and the United States, where populations are still growing. Nippon Steel gave reporters a tour of one of its plants in Japan on Friday. The bid for U.S. Steel is opposed by President-elect Donald Trump, President Joe Biden and American steelworkers.

US applications for jobless benefits rise last week but remain at low levels

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

The number of Americans applying for unemployment benefits rose last week.

[CutID: <Cuts> JOBLESS-CLAIMS-house-q-THUam.mp3
Time: 23s
Title: JOBLESS-CLAIMS-house-q-THUam
Out-cue: of November 23]

TAG: Correspondent Jeremy House reporting.

—————————–
VERBATIM: The Labor Department says jobless claim applications rose by 9,000 to 224,000 for the week of November 30. Despite the increase, the number of claims remains at historically healthy levels. Continuing claims, the total number of Americans collecting jobless benefits, fell by 25,000 to 1.87 million for the week of November 23.

OPEC+ oil producers’ alliance postpones production increases

( ) -q-27- UNDATED (Correspondent Jeremy House) “course of 2025.”

Eight members of the OPEC+ alliance of oil exporting countries have decided to put off increasing oil production.

[CutID: <Cuts> OPEC+-OIL-PRODUCTION-house-q-THUam.mp3
Time: 27s
Title: OPEC+-OIL-PRODUCTION-house-q-THUam
Out-cue: course of 2025]

TAG: Correspondent Jeremy House reporting. That process will now be pushed back until October 2026. OPEC+ includes Saudi Arabia as the dominant member of the OPEC producers’ cartel, and Russia as the leading non-OPEC member in the 23-country alliance.

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VERBATIM: The decision was made as the alliance faces weaker than expected demand and competing production from non-allied countries — factors that could keep oil prices stagnant into next year. The OPEC+ members decided at an online meeting to postpone by three months production increases that had been scheduled to take effect January 1. The plan had been to start gradually restoring 2.2 million barrels per day over the course of 2025.

Trump nominates cryptocurrency advocate Paul Atkins as SEC chair

( ) -q-17- UNDATED (Correspondent Jeremy House) “markets and investments.”

President-elect Donald Trump says he intends to nominate cryptocurrency advocate Paul Atkins to chair the Securities and Exchange Commission.

[CutID: <Cuts> SEC-ATKINS-house-q-THUam.mp3
Time: 17s
Title: SEC-ATKINS-house-q-THUam
Out-cue: markets and investments]

TAG: Correspondent Jeremy House reporting. If confirmed next year by the new Republican-led Senate, Atkins would replace Gary Gensler, who’s been leading the U.S. government’s crackdown on the crypto industry. Atkins was widely considered the most conservative SEC member during his tenure and known to have a strong free-market bent.

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VERBATIM: Atkins is a former SEC commissioner. Mr. Trump calls Atkins a “proven leader for common sense regulations.” In the years since leaving the SEC, Atkins has made the case against too much market regulation. The SEC oversees U.S. securities markets and investments.

Bitcoin tops $100,000 sparked by Trump election rally

( ) -q-23- UNDATED (Correspondent Jeremy House) “than 103-thousand dollars.”

Bitcoin has topped the $100,000 mark as a massive rally in the world’s most popular cryptocurrency rolls on.

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Time: 23s
Title: BITCOIN-100-THOUSAND-house-q-THUam
Out-cue: than 103-thousand dollars]

TAG: Correspondent Jeremy House reporting.

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VERBATIM: The milestone comes just hours after President-elect Donald Trump signaled a lighter regulatory approach to the crypto industry. Bitcoin has soared to unprecedented heights since Mr. Trump won the election November 5. The cryptocurrency has climbed dramatically from $69,374 on Election Day and rose to a high of more than $103,000.

China losses force GM to take over $5B in charges

( ) -q-27- UNDATED (Correspondent Jeremy House) “adjusted pretax earnings.”

The poor performance of General Motors’ Chinese joint ventures is forcing the company to write down assets and take a restructuring charge totaling more than $5 billion in the fourth quarter of this year.

[CutID: <Cuts> GM-CHINA-house-q-WEDam.mp3
Time: 27s
Title: GM-CHINA-house-q-WEDam
Out-cue: adjusted pre-tax earnings]

TAG: B-B-C Correspondent Jeremy House reporting.

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VERBATIM: The Detroit automaker says in a regulatory filing that it will cut the value of its equity stake in the ventures by $2.6 billion to $2.9 billion when results are reported early next year. In addition, GM will take $2.7 billion worth of restructuring charges, most of it during the fourth quarter. GM says the noncash charges will reduce the company’s net income, but they will not affect adjusted pretax earnings.

EU pushes back deforestation law by a year after outcry

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

The European Union has agreed to delay by a year the introduction of new rules to ban the sale of products that lead to massive deforestation. Correspondent Jeremy House reports.

[CutID: <Cuts> EU-DEFORESTATION-house-v-WEDam.mp3
Time: 34s
Title: EU-DEFORESTATION-house-v-WEDam
Out-cue: std]

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VERBATIM: The E-U agreed to demands from several producer nations from across the globe and domestic opposition within the 27-nation bloc. Officials say the EU member states, the EU parliament and the executive Commission reached an agreement in principle following weeks of haggling whether the initial rules would have to be watered down even further. The deforestation law is aimed at preserving forests on a global scale by only allowing forest-related products that are sustainable and do not involve the degradation of forests.

Founder of failed crypto lending platform pleads guilty to fraud charges

( ) -q-22- UNDATED (Correspondent Jeremy House) “years in prison.”

The founder and former CEO of the failed cryptocurrency lending platform Celsius Network has pleaded guilty to federal fraud charges, admitting that he misled customers about the business.

[CutID: <Cuts> CELSIUS-NETWORK-FOUNDER-house-q-WEDam.mp3
Time: 22s
Title: CELSIUS-NETWORK-FOUNDER-house-q-WEDam
Out-cue: years in prison]

TAG: Correspondent Jeremy House reporting. Sentencing has been scheduled for April 8. Celsius filed for bankruptcy in 2022.

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VERBATIM: Alexander Mashinsky entered the plea in Manhattan federal court to commodities and securities fraud. He admitted illegally manipulating the price of Celsius’ proprietary crypto token while secretly selling his own tokens at inflated prices. A plea agreement Mashinsky reached with prosecutors calls for him to be sentenced to up to 30 years in prison.

Amtrak sets passenger record in 2024

Amtrak set a passenger record this year. Ridership on Amtrak topped 2019 pre-COVID levels for the first time this year and reached a record high even with less capacity. The number of passengers increased 15 percent this year to a record 32-point-8 million customer trips. Despite the increase in ridership, the country’s passenger railroad had an operating loss of 705 million dollars, which was an improvement from last year. In March, Amtrak said it was boosting service on its popular East Coast lines.

A top Fed official leans toward December rate cut

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

A top Federal Reserve official says he is leaning toward supporting an interest rate cut when the Fed meets in two weeks. Correspondent Jeremy House reports.

[CutID: <Cuts> FED-INTEREST-RATE-house-v-TUEam.mp3
Time: 34s
Title: FED-INTEREST-RATE-house-v-TUEam
Out-cue: std]

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VERBATIM: Christopher Waller, a key member of the Fed’s Board of Governors, notes however, that evidence of persistent inflation before then could cause him to change that view. Speaking at George Washington University, Waller said he was confident that inflation is headed lower and that the central bank will likely keep reducing its key rate, which affects many consumer and business loans. But he noted that there’s a risk that inflation “may be getting stuck above” the Fed’s 2% target, which would support an argument for keeping the Fed’s rate unchanged this month…JH, Washington.

Alaska Airlines tech issue briefly grounds planes in Seattle

( ) -q-23- UNDATED (Correspondent Jeremy House) “a technology problem.”

Alaska Airlines says an unspecified technology issue caused the temporary grounding of flights in Seattle and continuing problems with booking flights online.

[CutID: <Cuts> ALASKA-AIR-FLIGHTS-house-q-TUEam.mp3
Time: 23s
Title: ALASKA-AIR-FLIGHTS-house-q-TUEam
Out-cue: a technology problem]

TAG: Correspondent Jeremy House reporting.

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VERBATIM: The company says Monday’s issue resulted in a significant disruption to its operation, including delayed flights. The airline said it requested a 40-minute ground stop at Seattle-Tacoma International Airport to clear aircraft congestion. In September, Alaska Airlines flights were grounded in Seattle because of what the company called significant disruptions from a technology problem.