Inflation in Europe falls to 2.4% as interest rates pack a punch

( ) -q-24- UNDATED (Correspondent Jeremy House) “interest rate hikes.”

Europeans are again seeing some relief as inflation dropped to 2.4% in November, the lowest in more than two years.

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TAG: Correspondent Jeremy House reporting. The latest inflation figure raises expectations that the ECB would hold rates steady for the second time in a row at its meeting next month. While inflation is down, economic growth has stalled.

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VERBATIM: Plummeting energy costs have eased a cost-of-living crisis, but higher interest rates are squeezing the economy’s ability to grow. The European Union’s statistics agency says inflation for the 20 countries using the euro currency was down from an annual 2.9% in October. That’s close to the the European Central Bank’s target of 2% after a rapid series of interest rate hikes.

OPEC+ suppliers struggle to agree on oil production cuts even as prices fall

( ) -q-30- UNDATED (Correspondent Jeremy House) “affect oil flows.”

The OPEC oil cartel led by Saudi Arabia and allied producers including Russia are trying to agree on cuts to the amount of crude they send to the world.

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TAG: Correspondent Jeremy House reporting. The members of OPEC+ are trying Thursday to come to a consensus on production cuts after postponing their meeting originally set for Sunday.

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VERBATIM: Prices have tumbled recently despite their efforts to prop them up. That’s been a good thing for U.S. drivers, who have been able to fill their gas tanks for less. But it’s bad news for the OPEC+ coalition countries whose oil income props up their economies. They have faced setbacks in keeping prices up despite initial fears that the Israel-Hamas war could affect oil flows.

US airports saw record passenger volumes over Thanksgiving weekend

( ) -q-19- UNDATED (Correspondent Jeremy House) “despite the crowds.”

A record number of passengers traveled through U.S. airports over Thanksgiving weekend.

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TAG: Correspondent Jeremy House reporting. This past Sunday, just 55 flights within, into or out of the U.S. were canceled, according to FlightAware, a tracking service.

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VERBATIM: The Transportation Security Administration also says it screened just over 2.9 million passengers on Sunday. That surpassed the previous record of 2.88 million set on June 30. And it was 10% more than the Sunday after Thanksgiving last year. Travel was relatively smooth despite the crowds.

Ukraine has new way to export grain despite Russia’s Black Sea threat

( ) -q-27- UNDATED (Correspondent Jeremy House) “insecurity is growing.”

Increasing numbers of ships are streaming toward Ukraine’s Black Sea ports and heading out loaded with grain, metals and other cargo.

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TAG: Correspondent Jeremy House reporting. The head of one of Ukraine’s biggest agricultural producers and exporters says he’s feeling positive about the future because two months ago “it was “completely unclear how to survive.”

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VERBATIM: The shipments are being made despite the threat of attack and explosive mines. It’s happening under a fledgling shipping corridor launched after Russia pulled out of a U.N.-brokered agreement this summer that allowed food to flow safely from Ukraine during the war. The exports are giving a boost to Ukraine’s agriculture-dependent economy and bringing back a key source of affordable food products for developing nations where food insecurity is growing.

China-based AI company pushes back against accusations of revenue-inflation

( ) -q-21- UNDATED (Correspondent Jeremy House) “among other allegations.”

SenseTime, a major Chinese artificial intelligence company has rejected claims by a research company that it has inflated its revenue.

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TAG: Correspondent Jeremy House reporting. The U.S. government blacklisted SenseTime in 2019, saying Chinese authorities use its facial recognition technology against the Uyghur ethnic minority in the northwestern Xinjiang region.

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VERBATIM: SenseTime, which is known for its facial recognition technology, says the allegations made by short-seller Grizzly Research LLC were “without merit.” SenseTime’s stock plunged nearly 10% after Grizzly released the report. Grizzly’s report said SenseTime uses revenue fabrication schemes to inflate its sales, among other allegations.

Georgia case over railroad’s use of eminent domain could have property law implications

( ) -q-21- UNDATED (Correspondent Jeremy House) “near their property.”

A hearing is taking place to help determine whether a Georgia railroad can legally condemn property to build a rail line.

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TAG: Correspondent Jeremy House reporting. The Libertarian-leaning Institute for Justice is representing opponents and hopes to chip away at eminent domain, the government power to legally take private land while paying fair compensation. Georgia law says such seizures must be for public use and opponents say the Sandersville project doesn’t meet the standard.

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VERBATIM: The Georgia Public Service Commission is expected to hear testimony Monday about the 4.5-mile line near Sparta. It’s scheduled to be built by the Sandersville Railroad to serve a rock quarry and possibly other industries and connect to the CSX railroad at Sparta. People in the rural neighborhood don’t want a train track through or near their property.

Supporting nonprofits on GivingTuesday this year could have a bigger impact than usual

( ) -q-21- UNDATED (Correspondent Jeremy House) “other, smaller donors.”

Supporting nonprofits on GivingTuesday this year could have a bigger impact than usual.

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TAG: Correspondent Jeremy House reporting. A large amount of charitable giving happens at the end of the calendar year, so it’s still too soon to tell if this year will follow the trend in 2022, when overall donations dropped for only the fourth time in 40 years.

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VERBATIM: The reason…nonprofits and industry groups say donations so far are down compared with previous years. Many organizations will be looking to make up the difference on GivingTuesday, which is the Tuesday after Thanksgiving. Some run matching campaigns, meaning a supporter has pledged to double or sometimes triple the donation of other, smaller donors.

New incentives could boost satisfaction with in-person work, but few employers are making changes

( ) -q-20- UNDATED (Correspondent Jeremy House) “pre-COVID status quo.”

The typical workplace environment may be a thing of the past.

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TAG: Correspondent Jeremy House reporting. Top factors behind this resistance include a sense of losing flexibility or throwing off a better work-life balance, as well as often lengthy and costly commutes.

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VERBATIM: The COVID-19 pandemic upended the work habits of people around the world, with millions working from home. While workers have returned in waves back to the office on some days, navigating that transition is a significant hurdle for employers and workers alike. And many simply don’t want to restore the pre-COVID status quo.

U.S. EV sales increase, but lag behind other countries

Electric vehicle sales in the U-S are up this, but they lag far behind several other countries. For the first time, more than one million EVs are expected to be sold in the U-S in one calendar year. Atlas Public Policy says that will account for 9 percent of all passenger vehicles. Despite those record numbers, foreign countries are selling many more electric and plug-in hybrid vehicles than the U-S. EVs reached 33 percent of sales in China, 35 percent in Germany, and 90 percent in Norway for the first six months of 2023.

Existing home sales slumped in October to slowest pace since 2010

Struggles continue in the U-S housing market. Used home sales slumped in October to their slowest pace in more than 13 years. Surging mortgage rates and rising prices kept many prospective homebuyers on the sidelines. Existing home sales fell 4-point-one percent last month from September. The national median sales price rose nearly 3-and-a-half percent from October last year to just under 392-thousand dollars.

Elon Musk’s X sues liberal advocacy group over ads dispute

Elon Musk’s social media company is suing a liberal advocacy group. X claims Media Matters manufactured a report to show advertisers’ posts alongside neo-Nazi and white nationalist posts in order to “drive advertisers from the platform and destroy” the former Twitter. Advertisers have been fleeing X over concerns about their ads showing up next to pro-Nazi content. In its complaint, X accuses the liberal group of “maliciously” manipulating algorithms to create misleading images. Media Matters calls the lawsuit “frivolous.”

PG&E bills will go up next year pay for wildfire protections

( ) -q-20- UNDATED (Correspondent Jeremy House) “reduce wildfire risk.”

About 16 million people in California will pay higher electric and gas bills next year.

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TAG: Correspondent Jeremy House reporting. Some consumer advocacy group say it is better to install a protective covering over power lines. They say protective coverings are cheaper and don’t not take as long to install.

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VERBATIM: The California Public Utilities Commission has voted to increase the typical bill for Pacific Gas & Electric customers by more than $32 per month. Much of that increase will pay for burying power lines in areas that are at high risk for wildfires. PG&E says burying power lines is the best way to reduce wildfire risk.

Walmart attracts more shoppers seeking to cut spending in Q3

( ) -q-26- UNDATED (Correspondent Jeremy House) “the holiday approaches.”

Walmart extended its streak of strong quarterly gains heading into the holiday season as its low-prices continue to attract shoppers looking for deals in a tough economic environment.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: Walmart reported that it swung to a profit of $453 million in the three-month period ending October 31. Revenue rose 5.2% to $160.84 billion. Walmart, the nation’s largest retailer, is among the first batch of major U.S. retailers to report quarterly results. Industry analysts are seeking to shed more light on how consumers are feeling as the holiday approaches.

US and Philippines sign a nuclear cooperation pact allowing US investment and technologies

( ) -q-25- UNDATED (Correspondent Jeremy House) “in the Philippines.”

The United States and the Philippines have signed a nuclear cooperation pact.

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TAG: Correspondent Jeremy House reporting. Marcos witnessed the signing of the deal by his energy secretary and U.S. Secretary of State Antony Blinken on Thursday on the sidelines of the Asia Pacific Economic Cooperation summit in San Francisco.

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VERBATIM: Under the agreement, U.S. investment and technologies will help the Southeast Asian nation transition to cleaner energy and bolster its power supply. Philippine President Ferdinand Marcos Jr. says nuclear energy is expected to become a part of the Philippines’ energy mix by 2032. He says the pact will open doors for U.S. companies to invest and participate in nuclear power projects in the Philippines.

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.