AM SPORTSCAST 2-16

AM SPORTSCAST 2-16

Cyberattacks on hospitals are likely to increase, experts warn

CYBERATTACKS/HOSPITALS

Inserted: 7:30am – Thu 2/15

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

Cybersecurity experts are warning that hospitals around the United States are at risk for attacks such as the one that’s crippling operations at a premier Midwestern children’s hospital. Correspondent Jeremy House has more on the story.

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VERBATIM: Experts want the government in Washington to do more to prevent such breaches. Assailants often operate from American adversaries such as Russia, North Korea and Iran, where they enjoy big payouts from their victims and face little prospect of ever being punished. Federal health officials acknowledge the increase in cyberattacks on hospitals and say they are working to develop new rules to help health care facilities protect themselves against cyber threats. But they say more money is needed from Congress to help hospitals protect themselves…JH, Washington.

UK fell into recession at the end of 2023 as output shrank in Q4

( ) -q-23- UNDATED (Correspondent Jeremy House) “anticipated by economists.”

The British economy fell into recession at the end of 2023 as output shrank more than anticipated in the final three months of the year.

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TAG: Correspondent Jeremy House reporting. The quarterly decline followed a 0.1% fall in the previous three-month period. A recession is officially defined as two straight quarters of economic decline.

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VERBATIM: Britain’s Office for National Statistics says economic activity, as measured by gross domestic product, declined by 0.3% in the fourth quarter of the year from the previous three-month period. All three main sectors — services, industrial production and construction — were down. That was far more than the 0.1% decline anticipated by economists.

Biden administration announces $970 million in grants for airport improvements

( ) -q-25- UNDATED (Correspondent Jeremy House) “make other improvements.”

The Biden administration is giving airports $970 million for improvements in terminals.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: Those improvements include things like wider concourses, new baggage-handling systems, and more gates. The money will go to 114 airports in 44 states, and it comes from a $5 billion grant program to modernize airport terminals. The biggest winner is Fort Lauderdale-Hollywood International Airport in Florida, which will get $50 million for a project to connect terminals and make other improvements.

Retail sales fall 0.8% in January from December following strong holiday season

( ) -q-30- UNDATED (Correspondent Jeremy House) “and rising wages.”

Americans took a break from spending in January after splurging during the holiday season.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: The Commerce Department says retail sales fell 0.8% from the strong pace in December when retail sales were up a revised 0.4%. Economists had expected consumers to pull back on spending late last year under the weight of credit card debt and delinquencies and lower savings. Yet despite those challenges, along with higher borrowing costs and tighter credit conditions, household spending had been been fueled by strong job and rising wages.

Senator Roger Marshall On Hand As Shots Rang Out At KC Chiefs Parade

JetBlue shares soar as investor Carl Icahn takes a stake in the airline

( ) -q-20- UNDATED (Correspondent Jeremy House) “board of directors.”

Shares of JetBlue were up more than 18% as activist investor Carl Icahn took an almost 10% stake in the airline.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: Icahn, who purchased shares in January and February, said in a regulatory filing that he believe JetBlue’s stock is undervalued. He also point out the stock represents an attractive investment opportunity. Icahn plans to continue talking with JetBlue in regards to possible representation on its board of directors.

Airbnb loses $349 million on Italian tax dispute but posts revenue gain

( ) -q-19- UNDATED (Correspondent Jeremy House) “into the first.”

Airbnb says that it lost $349 million in the fourth quarter because of an income tax settlement with Italy.

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TAG: Correspondent Jeremy House reporting. Airbnb says a settlement with Italy over taxes cost it about $1 billion. Excluding the special expenses, Airbnb says it would have earned $489 million.

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VERBATIM: Despite the loss, the company says bookings and revenue rose, and demand for vacation rentals on its platform remains strong. Airbnb says first-quarter revenue will meet or beat Wall Street expectations. But the company says the pace of bookings growth will “moderate” from the fourth quarter into the first.

Lab-grown diamonds have low price tags, but sustainability claims lag

Lab-created diamonds come with sparkling claims. One such claim is that such diamonds are ethically made by machines running on renewable energy. But many don’t live up to these claims or don’t respond to questions about their electricity sources, and lab diamonds require a lot of electricity. They are chemically the same as diamonds found in the ground, but cost a fraction of the price, which appeals to younger people facing high costs of living.

Senate GOP Helps Democrats Pass Aid For Ukraine, Israel, and Taiwan.

US inflation slowed in January, but remains elevated

( 10a ) -q-26- UNDATED (Correspondent Jeremy House) “in mid-2022.”

Annual inflation in the United States cooled last month, yet remained elevated.

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TAG: Correspondent Jeremy House reporting. The latest reading is still well above the Federal Reserve’s 2% target level at a time when public frustration with inflation has become a pivotal issue in President Joe Biden’s bid for re-election.

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VERBATIM: It’s the latest sign that the pandemic-fueled price surge is only gradually coming under control. The consumer price index rose 0.3% from December to January. That’s up from a 0.2% increase the previous month. Compared with a year ago, prices are up 3.1%. That is less than the 3.4% figure in December and well below the 9.1% inflation peak in mid-2022.

New York cracks down on business’ handling of credit card transactions

( ) -q-28- UNDATED (Correspondent Jeremy House) “in surprise surcharges.'”

New York state wants to put some teeth into credit card transactions.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: Businesses in New York will now be required to clearly post how much extra their products will cost if customers pay with a credit car. A new state law means stores can no longer post a sign on a door and at the register stating that credit card purchases will be subject to surcharges. Gov. Kathy Hochul said in a statement the law “will ensure individuals can trust that their purchases will not result in surprise surcharges.”

Mobileye CEO more autonomous vehicles on the road in 2 years

( ) -q-29- UNDATED (Correspondent Jeremy House) “is moving ahead.”

Mobileye’s CEO anticipates more autonomous vehicles on the road in 2 years.

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TAG: Correspondent Jeremy House reporting. Shashua says he expects his company to sell a system that allows drivers to take their eyes off the road, and a fully driverless system, each in about two years.

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VERBATIM: Six years ago, automakers and tech companies thought they were on the cusp of putting thousands of self-driving robotaxis on the street to carry passengers without a human driver. Then an Uber autonomous test vehicle hit and killed a pedestrian in Arizona and General Motors’ Cruise robotaxis ran into trouble in San Francisco. Yet Amnon Shashua, co-founder and CEO of Mobileye, which makes automated driving systems, says the technology is moving ahead.

Diamondback Energy seeks to buy rival Endeavor in $50+ billion deal

Diamondback Energy will attempt to buy rival Endeavor Energy Resources to create an energy giant in the Southwestern United States worth more than $50 billion. Growing confidence in an economic recovery has driven massive deals in the energy sector in recent months. That includes Chevron’s $53 billion acquisition of Hess in October, and a $59.5 billion deal two weeks before that by Exxon Mobil. Diamondback will buy Endeavor in a cash-and-stock deal valued at about $26 billion.

Venezuela defends military buildup against neighboring Guyana

( ) -q-25- UNDATED (Correspondent Jeremy House) “lines for decades.”

The government of Venezuela accused neighboring Guayana of granting illegal oil exploration concessions in territory the two nations are disputing.

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TAG: Correspondent Jeremy House reporting. Venezuela has been laying claim to the mineral-rich Essequibo region, which covers about two thirds of Guyana’s surface area.

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VERBATIM: Venezuela said it would take any diplomatic actions necessary. The comments came after Guyana said that it has satellite imagery showing Venezuelan military movements near the South American country’s eastern border with Guyana. Oil giant ExxonMobil has said it will keep ramping up production in offshore Guyana despite the escalation of the territorial dispute. The two sides have feuded over border lines for decades.

Finance minister blasts Moody’s downgrade of Israel’s credit rating

( ) -q-23- UNDATED (Correspondent Jeremy House) “economy was negative.”

Israel’s finance minister has slammed a decision by the financial ratings agency Moody’s to downgrade Israel’s credit rating.

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TAG: Correspondent Jeremy House reporting. It’s the first time Moody’s has lowered Israel’s credit rating, which is used by investors to measure the riskiness of investing in a global entity or government. Prime Minister Benjamin Netanyahu says Israel’s economy remains strong.

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VERBATIM: Bezalel Smotrich (BEH zah lel SMOH trich) says the decision “did not include serious economic claims.” In its announcement, Moody’s warned that the ongoing war in Gaza and a possible war in the north with Hezbollah could adversely affect Israel’s economy. It downgraded Israel’s rating from A1 to A2 and said the outlook for the country’s economy was “negative.”

Jeff Bezos sells nearly 12 million Amazon shares worth at least $2 billion

( ) -q-27- UNDATED (Correspondent Jeremy House) “than 3.2 million.”

Jeff Bezos has filed a statement with federal regulators indicating his sale of nearly 12 million shares of Amazon stock worth more than $2 billion.

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TAG: Correspondent Jeremy House reporting. In a separate SEC filing, Bezos has listed the proposed sale of 50 million Amazon shares around Feb. 7 with an estimated market value of $8.4 billion.

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VERBATIM: The Amazon executive chairman notified the U.S. Securities and Exchange Commission of the sale of 11,997,698 shares of common stock on February 7 and February 8. The collective value of the shares of the Seattle-based company, was more than $2.042 billion. The stocks were grouped in five blocks between over 1 million to more than 3.2 million.

Three friends in Las Vegas have attended all Super Bowls in person

They’ve attended all the Super Bowls in-person… and they’re in Las Vegas again this year to keep their streak alive. The three friends say they are the final fans who can claim membership in the exclusive “never missed a Super Bowl” club. Don Crisman of Maine, Gregory Eaton of Michigan and Tom Henschel, who splits time between Florida and Pennsylvania are now all in their 80s. This year would have made Eaton happy, had his Detroit Lions made it to the big game. Each treasures the memories of the games they’ve seen. As they take in Super Bowl 58, they’re hoping they can all make it all the way to the 60th edition of the game two years from now.

Mexico’s president proposes pensions equal to people’s full salaries at retirement

Mexico’s president has proposed giving people pensions equal to their full salaries at the time they retire, something no other country does

VERBATIM:

President Andres Manuel López Obrador leaves office in September, and he really wants his party’s candidate to win the June 2 elections. But analysts say it may also be an attempt to set the agenda for the next administration, by saddling the future president with unrealistically high expectations. For the moment, López Obrador doesn’t have the votes in Congress to get the pension plan passed.

JPMorgan Chase plans to open at least 500 new branches in the next three years

JPMorgan Chase plans to open at least 500 new branches in the next three years

VERBATIM:

It will reverse a decade-long industry trend where banks like JPMorgan and Bank of America have closed branches as fewer Americans need to cash a paycheck or pull money out of an ATM. The new branches will be primarily located in cities such as Boston, Charlotte, Washington, D.C. as well as Philadelphia and Minneapolis. These are markets that Chase has expanded into in recent years, and are cities that are noticeably dominated by other big banks.

Growing optimism about U.S. economy driving a record run on Wall Street

Growing optimism about prospects for the U.S. economy are driving a record run on Wall Street, with the S&P 500 Index starting the week at an all-time high

VERBATIM:

The diversified stock index that includes some of the best-known companies on the planet sits above five-thousand for the first time. It opens the week at five-thousand-26. Analysts say investors’ fears of a recession are fading, with growing optimism for a “soft landing” for the economy, with inflation brought to heel without a recession. There are also hopes that the Fed will begin cutting interest rates before too much longer, lowering the cost of borrowing. Rich Thomason reporting.

China, US hold economic talks as trade issues heat up on the campaign trail

( ) -q-27- UNDATED (Correspondent Jeremy House) “China if elected.”

Chinese and U.S. officials have met in Beijing for talks on tough issues dividing the two largest economies.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: China’s Ministry of Finance said Beijing raised objections to higher tariffs on Chinese exports, two-way investment restrictions and other limits on trade and technology. The U.S. Treasury Department said U.S. officials reiterated concerns over Chinese industrial policy practices and overcapacity, and the resulting impact on U.S. workers and firms. Former President Donald Trump has vowed to sharply raise tariffs on China if elected.

NTSB: Bolts on Boeing jetliner were missing before mid-flight panel blowout

( ) -q-20- UNDATED (Correspondent Jeremy House) “of the Max.”

Investigators say bolts that helped secure a panel on the Boeing jetliner were missing before the panel blew off the plane in midflight last month.

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TAG: Correspondent Jeremy House reporting. Both airlines have been returning their planes to service since the Federal Aviation Administration approved guidelines for inspections of the part that blew out, called a door plug.

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VERBATIM: The National Transportation Safety Board has issued a preliminary report into the January 5 accident. The loss of the panel forced pilots of the Alaska Airlines Boeing 737 Max 9 jet to make a harrowing emergency landing. Alaska and United Airlines are the only U.S. carriers using that particular model of the Max.

IRS expects to collect hundreds of billions more in overdue, unpaid taxes

( ) -q-28- UNDATED (Correspondent Jeremy House) “to 2031 period.”

The IRS says it expects to collect hundreds of billions of dollars more in overdue and unpaid taxes than previously anticipated using funding provided to the agency by the Inflation Reduction Act.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: A new analysis by the Treasury Department and the IRS says tax revenues are expected to increase by as much as $561 billion from 2024 to 2034. That is substantially more than previous estimates. The Congressional Budget Office in 2022 estimated that tax revenues would increase by $180.4 billion over the 2022 to 2031 period.