Long-haul carrier Emirates signals it will hold off on major Airbus purchase over engine worries

( ) -q-26- UNDATED (Correspondent Jeremy House) “aircraft from Boeing.”

Long-haul carrier Emirates has signaled it will hold off on a major purchase of Airbus A350 aircraft.

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TAG: Correspondent Jeremy House reporting. Ethiopian Airlines announced it’s buying 31 aircraft from Boeing and signed options to potentially purchase another 36 aircraft as well.

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VERBATIM: The pause is over concerns about the aircrafts’ Rolls Royce engines. It marks a major blow for the European manufacturer as it hopes to close the sale during the Dubai Air Show. Emirates President Tim Clark’s comments at the show came the day after his airline announced a $52 billion purchase with Airbus’ rival Boeing, while its sister airline FlyDubai bought another $11 billion of aircraft from Boeing.

The APEC summit is happening this week in San Francisco

( ) -q-29- UNDATED (Correspondent Jeremy House) “invasion of Ukraine.”

The United States is hosting the annual Asia-Pacific Economic Cooperation conference this week for the first time since 2011.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: Leaders from the 21-member APEC group are gathering in San Francisco to talk about how to better spur trade and economic growth across the Pacific region. But the main event will actually play out on the sidelines as President Biden and Chinese leader Xi Jinping meet face-to-face. The conference is happening against the backdrop of the tense relationship between China and the U.S., and global turmoil from the Israel-Hamas war as well as Russia’s invasion of Ukraine.

International students have return to U.S. colleges, fueled by India surge

( ) -q-28- UNDATED (Correspondent Jeremy House) “2019-2020 school year.”

International students attended U.S. universities in surging numbers last year.

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TAG: Correspondent Jeremy House reporting. American colleges enrolled nearly 269,000 students from India, more than ever and second only to China. Most came for graduate programs, often in science, technology and business fields.

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VERBATIM: Attendance rebounded from a pandemic slump with the help of a 35% jump in students coming from India. A new study from the State Department and the Institute of International Education finds that international students in the U.S. grew by 12% in the 2022-23 academic year, the largest jump in more than 40 years. More than one million students came from abroad, the most since the 2019-20 school year.

Long-haul carrier Emirates to make $52 billion Boeing aircraft purchase

Long-haul carrier Emirates says it will buy Boeing aircraft in a deal worth $52 billion. Emirates CEO and Chairman Sheikh Ahmed bin Saeed Al Maktoum made the announcement at the Dubai Air Show. Boeing said it was “delighted” by the order. Immediately after, Emirates sister carrier, the low-cost airline FlyDubai, said it will buy 30 Boeing 787-9 Dreamliners, the first wide-body aircraft in its fleet.

Signs point to relatively solid holiday season for U.S. small businesses

All signs point to a relatively solid holiday season for America’s small businesses. Despite the encouraging news, owners of these businesses appear to have a collective anxiety about the months ahead. American kept up their spending over the summer. Yet even as they open their wallets, consumers seem pessimistic about their finances. In turn, owners fear consumers have run through their pandemic savings and might cut back this holiday season or shop online again after years of supporting local businesses.

Treasury Dept imposed sanctions on 13 members of Mexico’s Sinaloa cartel

The Treasury Department has imposed sanctions on 13 members of Mexico’s powerful Sinaloa cartel and four Mexico-based firms accused of trafficking fentanyl into the United States

VERBATIM:

Authorities say included in the sanctions are a manager of cartel operations in Nogales who oversaw the trafficking of tons of drugs along with a restaurant, mining companies and an import-export firm. The sanctions cut them off from the U.S. banking system and block their U.S. assets. The Biden administration this year also has announced indictments and sanctions against Chinese companies and executives blamed for importing the chemicals used to make fentanyl. But Republicans say the Democratic administration isn’t doing enough to stop the deadly drug…JH, Washington.

Minnesota’s largest airport is getting a facelift.

( ) -q-23- UNDATED (Correspondent Jeremy House) “at gate seating.”

A $242 million overhaul will modernize the main terminal concourses and gate areas at Minneapolis-St. Paul International Airport.

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TAG: Correspondent Jeremy House reporting. Most of the work will occur at night and officials say little disruption is expected for flight activity.

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VERBATIM: The Minneapolis Star Tribune reports that the project is expected to be complete by late 2025. The plan calls for a unified design for the concourses and about 75 Delta gates, with new flooring, wall finishes and brighter LED lighting. Technology upgrades will improve flight and gate information screens. More power outlets will be added at gate seating.

New Air Force nuclear stealth bomber takes first test flight

( ) -q-22- UNDATED (Correspondent Jeremy House) “a future conflict.”

The futuristic B-21 Raider warplane has taken its first flight, moving it closer to becoming the nation’s next nuclear weapons stealth bomber.

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TAG: Correspondent Jeremy House reporting. The plane is planned to be produced in variants with and without pilots.

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VERBATIM: The Raider flew out of Palmdale, California, where it has been under testing and development by Northrop Grumman. The Air Force plans to build 100 of the warplanes, which have a flying wing shape much like their predecessor the B-2 Spirit. But the Raider will incorporate advanced materials, propulsion and stealth technology to make it more survivable in a future conflict.

Applications for jobless benefits inch down, remain at healthy levels

( ) -q-25- UNDATED (Correspondent Jeremy House) “the previous week.”

Slightly fewer Americans applied for jobless claims last week.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: The Labor Department reports applications for unemployment benefits fell by 3,000 to 217,000 for the week ending November 4th. The four-week moving average of claims meanwhile, inched up by 1,500 to 212,250. Overall, 1.83 million people were collecting unemployment benefits the week that ended October 28, about 22,000 more than the previous week.

Apple hits setback in dispute with EU over tax case

( ) -q-22- UNDATED (Correspondent Jeremy House) “decision next year.”

Apple might end up on the hook after all for billions of euros in back taxes to Ireland in the latest twist in a long running European Union dispute.

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TAG: Correspondent Jeremy House reporting. The case drew outrage from Apple when it was opened in 2016.

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VERBATIM: That’s after a legal opinion from an adviser to the bloc’s top court. It says a decision by a lower court that the U.S. tech giant doesn’t have to repay the 13.9-billion dollars in taxes “should be set aside.” The ECJ’s opinions aren’t legally binding, but are often followed by the court, which is expected to come up with its legally binding decision next year.

MGM’s CEO: deal with Las Vegas hotel workers union will avoid strike

( ) -q-20- UNDATED (Correspondent Jeremy House) “contract with Caesars.”

The CEO of MGM Resorts International says the company is close to reaching a tentative deal with the Las Vegas hotel workers union.

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TAG: Correspondent Jeremy House reporting. The union said that negotiations were still underway with MGM Resorts. Negotiations with Wynn Resorts are resuming today (THURSDAY).

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VERBATIM: The union is threatening to begin a strike early Friday if negotiations fail. Experts say a walkout is unlikely after a breakthrough deal reached between the Culinary Workers Union and Caesars Entertainment. The union’s chief contract negotiator says they are seeking the same terms contained in their tentative contract with Caesars.

US, Chinese finance ministers lay groundwork for Biden-Xi meeting

( ) -q-24- UNDATED (Correspondent Jeremy House) “Jinping next week.”

Treasury Secretary Janet Yellen and her Chinese counterpart are meeting in San Francisco.

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TAG: Correspondent Jeremy House reporting. The White House is lowering expectations for big breakthroughs from the meeting between Biden and Xi.

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The two are opening two days of talks aimed at making progress on a slew of economic issues. The talks come at a time when competition has markedly intensified between the two countries. Yellen’s talks on with China’s Vice Premier are designed to help lay the groundwork for an expected meeting between U-S President Joe Biden and Chinese President Xi Jinping next week.

GM’s autonomous vehicle unit recalls cars for software update

( ) -q-24- UNDATED (Correspondent Jeremy House) “throughout San Francisco.”

GM’s Cruise autonomous vehicle unit is recalling all 950 of its cars to update its software after one dragged a pedestrian to the side of a San Francisco street last month.

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TAG: Correspondent Jeremy House reporting. In the crash, a human driven vehicle hit a pedestrian, pushing them in front of a Cruise autonomous vehicle.

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VERBATIM: The company says with the updated software, Cruise vehicles will remain stationary in similar cases. The October second crash forced Cruise to suspend driverless operations nationwide after California regulators found its cars were a safety hazard. The California Department of Motor Vehicles revoked the license for Cruise, which was transporting passengers without human drivers throughout San Francisco.

Meta to begin labeling political ads that use AI-generated imagery

( ) -q-22- UNDATED (Correspondent Jeremy House) “could mislead voters.”

The owner of Facebook and Instagram says it’ll put labels on political ads created using artificial intelligence.

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TAG: Correspondent Jeremy House reporting. Social media platforms have been criticized for not doing more to address these risks. Meta’s announcement comes on the day lawmakers in Washington hold a hearing on deepfake images.

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VERBATIM: The new policy goes into effect January first and will apply worldwide. The California-based company’s policy is intended to help voters know when they see a political ad that contains altered images, video or audio. New AI programs have made it easier than ever to generate lifelike voices and images that in the wrong hands could mislead voters.

IMF warns Europe against prematurely declaring victory over inflation

( ) -q-24- UNDATED (Correspondent Jeremy House) “portion of growth.”

A word of advice from the International Monetary Fund to bank officials across Europe.

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TAG: Correspondent Jeremy House reporting. The IMF said in its twice-yearly regional economic outlook for Europe that the European Central Bank and the other central banks that aren’t part of the 20-country eurozone are reaching the peak of their interest rate cycles. Inflation in the eurozone peaked at 10.6% in October 2022 and has steadily fallen to 2.9% in October.

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VERBATIM: The IMF says the European Central Bank and other policymakers need to keep interest rates at current elevated levels until they’re sure inflation is under control despite sluggish growth. The Washington-based IMF says the cost of underestimating inflation’s persistence could be painfully high. It adds the cost could result in another painful round of rate hikes that could rob the economy of a large portion of growth.

AT&T offers managers paid time off to care for loved ones

AT&T management employees are entitled to up to 15 days off caregiver leave, which allows them to care for ailing children or other relatives without eating into their vacation or personal sick days.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: Paid caregiver time off is a rarity in the U.S., which has no federal law requiring employers to offer paid sick or family leave. AT&T’s Vice President of Global Benefits Juli Galloway said the company decided to offer caregiver leave, as well as expanding its parental leave. The moves are aimed at helping AT&T’s management employees balance their personal and professional lives in the wake of the COVID-19 pandemic.

UBS reports $255 million pre-tax loss in Q3

UBS has reported a $255 million pre-tax loss.

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TAG: Correspondent Jeremy House reporting. Government authorities in Bern shepherded through the deal along with corporate executives to stave off a collapse of Credit Suisse and avert a banking crisis. The bank said it was one quarter ahead of schedule in reaping savings from the restructuring operations, and the headcount was down more than 4,000 during the third quarter.

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VERBATIM: The company has also shed some 4,000 jobs globally, cut costs faster than expected, and reaped billions in asset inflows in the third quarter. It comes as the giant Swiss bank moves forward with its government-orchestrated merger with rival Credit Suisse. Underlying profit before taxes came in at $884 million in the first full quarter since the merger was completed in June.

WeWork seeks bankruptcy protection

WeWork has filed for Chapter 11 bankruptcy protection.

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TAG: Correspondent Jeremy House reporting. WeWork added that it was requesting the ability to cancel leases in particular locations that WeWork described as largely non-operational as part of its filing. All affected members have received advanced notice.

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VERBATIM: The filing marks a stunning fall for the office sharing company once seen as a Wall Street darling that promised to upend the way people went to work around the world. WeWork said it entered into a restructuring support agreement with the majority of its stakeholders to “drastically reduce” the company’s debt. Officials will further evaluate WeWork’s commercial office lease portfolio.

China premier seeks to bolster his country’s economic outlook

( ) -q-26- UNDATED (Correspondent Jeremy House) “of about 4.5-percent.”

Seeking to generate excitement around a largely lackluster economy, Chinese Premier Li Qiang is pledging to continue deepening reforms, expand free trade zones and relax market access for foreign investment.

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TAG: Correspondent Jeremy House reporting. The 4.5-percent figure was much slower than the 6.3% annual growth rate of the previous quarter.

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VERBATIM: Li made the remarks as he delivered a keynote speech at the opening of the 6th China International Import Expo in Shanghai. The event seeks to draw thousands of foreign businesses shopping for Chinese products and looking to expand trade and investment with the world’s second-largest economy. Official data show China’s economy expanded at a 4.9% annual pace between July-to-September, beating analysts’ forecasts of about 4.5%.

Humanoid robots are here, but they’re a little awkward

( ) -q-16- UNDATED (Correspondent Jeremy House) “keeping at it.”

The latest artificial intelligence craze has sparked another wave of investments in the quest to build a humanoid. But as correspondent Jeremy House reports, most of the current prototypes are clumsy and impractical.

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TAG: One of the startups, Agility Robotics, has caught the attention of Amazon, which is testing out its Digit robot for warehouse work.

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VERBATIM: Building a robot that’s both human-like and useful is a decades-old engineering dream inspired by popular science fiction. However, humanoids tend to look better in staged performances than in real life. That hasn’t stopped a handful of startups from keeping at it.

Google’s antitrust headaches include its Play Store

Google is trying to protect a lucrative piece of its internet empire. The latest threat is unfolding in a San Francisco federal court. A 10-person jury will decide whether Google’s digital payment processing system in the Play Store that distributes apps for phones running on its Android software has been illegally driving up prices for consumers and developers. Meanwhile, Google is still entangled in the biggest U.S. antitrust trial in a quarter century.

Employers pulled back on hiring in October, adding 150,000 jobs

( ) -q-27- UNDATED (Correspondent Jeremy House) “at least 30-thousand.”

The nation’s employers scaled back their hiring in October.

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TAG: Correspondent Jeremy House reporting. The UAW strikes ended this week with tentative settlements in which the companies granted significantly better pay and benefits to the union’s workers.

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VERBATIM: Employers added a modest 150,000 jobs, a sign that the labor market remains resilient despite economic uncertainties and high interest rates that have made borrowing much costlier for companies and consumers. October’s job growth, though down sharply from a robust 297,000 gain in September, was solid enough to suggest that many companies still want to hire. Economists say the United Auto Workers’ strikes against Detroit’s automakers likely shrank October’s job gain by at least 30,000.

Apple’s sales fall for 4th straight quarter despite strong start for latest iPhones

( ) -q-22- UNDATED (Correspondent Jeremy House) “in each quarter.”

Apple’s sales remained on a downward slope during the summer.

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TAG: Correspondent Jeremy House reporting. Although Apple’s sales in the most recent quarter dipped 1%, the company’s profit rose 11%. Both those figures topped analysts’ projections, but the performance still disappointed investors.

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VERBATIM: That means a full year of declining revenue at the technology trendsetter with a long history of steady growth that turned it into the world’s most valuable publicly traded company. The slight sales deterioration for the July-to-September period marked the end of Apple’s fiscal year. It was a stretch that saw the company suffer a revenue decrease from the prior year in each quarter.

China supported sanctions on North Korea’s nuclear program

( ) -q-24- UNDATED (Correspondent Jeremy House) “to Chinese ports.”

International authorities say there is growing evidence that shows Beijing is helping cash-strapped North Korea evade a range of international sanctions designed to hamper Pyongyang’s nuclear weapons program.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: China has long maintained it enforces the sanctions it has supported since North Korea started testing nuclear weapons and forcefully pushed back on any suggestions to the contrary. But there is evidence of China’s help from Chinese middlemen laundering the proceeds of North Korean hackers’ cyber heists. Meanwhile, Chinese ships deliver sanctioned North Korean goods to Chinese ports.