EPA proposes banning cancer-causing chemical TCE

( ) -q-28- UNDATED (Correspondent Jeremy House) “and immune system.”

The U.S. Environmental Protection Agency is seeking to ban the cancer-causing chemical trichloroethylene.

[CutID: <Cuts> EPA-TCE-house-q-TUEam.mp3
Time: 28s
Title: EPA-TCE-house-q-TUEam
Out-cue: and immune system]

TAG: Correspondent Jeremy House reporting. Companies using TCE in electric vehicle batteries or in making some refrigerants would be get more time to transition away from it.

——————————–
VERBATIM: The chemical is known as TCE. It’s used in a range of consumer products, including automobile brake cleaners, furniture care products and arts and crafts spray coating. The EPA wants to ban manufacturing, processing and distributing the chemical within a year. The EPA has found TCE causes liver cancer, kidney cancer and non-Hodgkin’s lymphoma. It can also damage the central nervous system, liver, kidneys and immune system.

Autoworkers strike cuts into GM earnings, company sees further losses

( ) -q-20- UNDATED (Correspondent Jeremy House) “July through September.”

A strike by autoworkers against General Motors is expected to cut the automaker’s pretax earnings by $800 million this year, and another $200 million per week after that.

[CutID: <Cuts> UAW-STRIKE-GM-EARNS-house-q-TUEam.mp3
Time: 20s
Title: UAW-STRIKE-GM-EARNS-house-q-TUEam
Out-cue: July through September]

TAG: Correspondent Jeremy House reporting. While the earnings figure was 7% below a year ago due to lost production from the strike and increased warranty costs, the results soundly beat Wall Street estimates.

——————————
VERBATIM: The company’s chief financial officer says those figures just include factories that are on strike now by the United Auto Workers union. Paul Jacobson says if more plants are added, the losses will pile up further. Jacobson’s statements came as GM reported just over $3 billion in net income from July through September.

Japan’s PM plans income tax cut for households and corporate tax breaks

( ) -q-17- UNDATED (Correspondent Jeremy House) “of the month.”

Japan’s Prime Minister Fumio Kishida says he is preparing to take bold economic measures.

[CutID: <Cuts> JAPAN-TAXES-house-q-MONam.mp3
Time: 17s
Title: JAPAN-TAXES-house-q-MONam
Out-cue: of the month]

TAG: Correspondent Jeremy House reporting. Previously, Kishida had been considered reluctant to cut taxes because his government must find the funds to double Japan’s defense budget within five years as planned while also trying to counter the impact of Japan’s low birth rate and rapidly declining population.

——————————–
VERBATIM: The measures include an income tax cut for households hit by inflation and tax breaks for companies to promote investment. The package is seen as a move to lift Kishida’s dwindling public support. The tax cuts would be part of a new economic stimulus package he plans to announce by the end of the month.

Apple supplier Foxconn subjected to tax inspections by Chinese authorities

( ) -q-27- UNDATED (Correspondent Jeremy House) “China-friendly candidate.”

Chinese state media report that Foxconn, a Fortune 500 company known globally for making Apple iPhones, was recently subjected to searches by Chinese tax authorities.

[CutID: <Cuts> APPLE-FOXCONN-house-q-MONam.mp3
Time: 27s
Title: APPLE-FOXCONN-house-q-MONam
Out-cue: China-friendly candidate]

TAG: Correspondent Jeremy House reporting.

—————————–
VERBATIM: Such a move against a major Taiwanese enterprise in China is rare. Tensions have been high between China and Taiwan in recent years. China claims the democratic self-governing island as part of its own territory. Foxconn’s founder, Terry Gou, said in August that he would be running as a candidate in Taiwan’s presidential elections, which will be held early next year. He then resigned from his seat on the board of Foxconn. Gou is seen as a China-friendly candidate.

Chevron buys Hess for $53 billion, 2nd buyout among major producers this month

( ) -q-21- UNDATED (Correspondent Jeremy House) “about two months.”

Chevron is buying Hess for $53 billion.

[CutID: <Cuts> CHEVRON-HESS-house-q-MONam.mp3
Time: 21s
Title: CHEVRON-HESS-house-q-MONam
Out-cue: about two months]

TAG: Correspondent Jeremy House reporting. Chevron says the acquisition of Hess adds a major oil field in Guyana as well as shale fields in North Dakota.

————————–
VERBATIM: The acquisition comes as major producers seize the initiative while oil prices surge. The Chevron-Hess deal comes less than two weeks after Exxon Mobil said that it would acquire Pioneer Natural Resources for about $60 billion. Crude prices are up 9% this year and have been hovering around $90 per barrel for about two months.

EU demands Meta, TikTok detail efforts to curb disinformation from Israel-Hamas war

( ) -q-26- UNDATED (Correspondent Jeremy House) “to the test.”

The European Union has demanded Meta and TikTok detail their efforts to curb illegal content and disinformation during the Israel-Hamas war.

[CutID: <Cuts> EU-META-TIKTOK-house-q-FRIam.mp3
Time: 26s
Title: EU-META-TIKTOK-house-q-FRIam
Out-cue: to the test]

TAG: Correspondent Jeremy House reporting. Elon Musk’s social media platform X faced the EU’s first formal request under the rules last week.

——————————-
VERBATIM: The 27-nation bloc’s executive branch has formally requested that the social media companies provide information on how they’re complying with pioneering new digital rules aimed at cleaning up online platforms. Meta and TikTok were asked to explain what they’ve done to reduce the risk of spreading and amplifying terrorist and violent content, hate speech and disinformation. The Israel-Hamas war is putting the new digital rules to the test.

Union Pacific railroad’s quarterly profit falls 19% as volumes slow, costs remain high

( ) -q-27- UNDATED (Correspondent Jeremy House) “several years ago.”

Union Pacific’s third-quarter profit fell 19% as the railroad hauled about 3% fewer shipments and costs remained high.

[CutID: <Cuts> UNIO-PACIFIC-PROFIT-house-q-FRIam.mp3
Time: 27s
Title: UNIO-PACIFIC-PROFIT-house-q-FRIam
Out-cue: several years ago]

TAG: Correspondent Jeremy House reporting. The railroad’s revenue slipped 10% to $5.9 billion in the quarter because of the lower volumes and the lag between when fuel prices increase and when the railroad’s fuel surcharge kicks in.

——————————
VERBATIM: Meanwhile, the average speed of Union Pacific’s trains improved 5% as new CEO Jim Vena began to tweak the operations. Union Pacific said Thursday it earned $1.53 billion, or $2.51 per share. Those results topped Wall Street expectations. Vena says he’s focused on improving safety and service at the railroad. More cuts are possible but major changes aren’t expected because Union Pacific already overhauled its operation several years ago.

American Airlines lost $545 million in the third quarter on higher labor costs

( ) -q-23- UNDATED (Correspondent Jeremy House) “with their pilots.”

American Airlines is reporting a $545 million loss for the third quarter due to higher labor costs.

[CutID: <Cuts> AMERICAN-AIRLINES-LOSS-house-q-FRIam.mp3
Time: 23s
Title: AMERICAN-AIRLINES-LOSS-house-q-FRIam
Out-cue: with their pilots]

TAG: Correspondent Jeremy House reporting. American’s revenue is about flat with last year, while United and Delta saw increases of more than 10% each.

——————————–
VERBATIM: It’s also cutting its forecast of full-year profit. The airline said its results were dragged down by nearly $1 billion in special charges related to a new contract with pilots. American’s loss stands in contrast with profits of more than $1 billion turned in by its two closest rivals, United and Delta, which also have expensive new contracts with their pilots.

Applications for US jobless benefits fall to lowest level in more than 8 months

( ) -q-18- UNDATED (Correspondent Jeremy House) “fewest since January.”

Applications for unemployment benefits fell to their lowest level in eight months last week.

[CutID: <Cuts> JOBLESS-CLAIMS-house-q-THUam.mp3
Time: 18s
Title: JOBLESS-CLAIMS-house-q-THUam
Out-cue: fewest since January]

TAG: Correspondent Jeremy House reporting. The four-week moving average of claims ticked down by 1,000 to 205,750. Overall, 1.73 million people were collecting unemployment benefits the week that ended Oct. 7, about 29,000 more than the previous week.

——————————-
VERBATIM: Businesses are continuing to retain workers despite elevated interest rates meant to cool the economy and labor market. The Labor Department reports jobless claim applications fell by 13,000 to 198,000 for the week ending October 14. That’s the fewest since January.

Netflix raises premium plan prices even with increase of subscribers

( ) -q-21- UNDATED (Correspondent Jeremy House) “a ten-percent increase.”

Netflix has disclosed summertime subscriber gains that surpassed analysts’ projections.

[CutID: <Cuts> NETFLIX-PASSWORD-house-q-THUam.mp3
Time: 21s
Title: NETFLIX-PASSWORD-house-q-THUam
Out-cue: a ten-percent increase]

TAG: Correspondent Jeremy House reporting. The $15.50 per month price for Netflix’s most popular streaming option in the U.S. will remain unchanged, as will a $7 monthly plan backed by ads. The company’s shares more than 12% in extended trading.

——————————
VERBATIM: It’s a signal that the video streaming service’s crackdown on password sharing is converting former freeloaders into paying customers. In an effort to bring in even more revenue, Netflix also announced it’s raising the price for its most expensive streaming service by $2 to $23 per month in the U.S. That’s a 10% increase.

Nokia plans to cut up to 14,000 jobs after sales and profits plunge

( ) -q-27- UNDATED (Correspondent Jeremy House) “end of 2026.”

Telecom gear maker Nokia says it’s planning to cut up to 14,000 jobs worldwide, or 16% of its workforce.

[CutID: <Cuts> NOKIA-JOB-CUTS-house-q-THUam.mp3
Time: 27s
Title: NOKIA-JOB-CUTS-house-q-THUam
Out-cue: end of 2026]

TAG: Correspondent Jeremy House reporting.

—————————-
VERBATIM: The job cuts are part of a push to reduce costs following a plunge in third-quarter sales and profit. The Finnish wireless and fixed-network equipment provider says the planned measures are aimed at reducing its cost base and increasing operational efficiency “to navigate the current market uncertainty.” Nokia says it’s aiming to lower its cost base by between 800 million and 1.2 billion euros by the end of 2026.

U.S.-based infrastructure investor acquires Germany-owned railway operator

( ) -q-30- UNDATED (Correspondent Jeremy House) “company in 2010.”

Germany’s state-owned railway operator, Deutsche Bahn, says it has agreed to sell its European public transport subsidiary, Arriva, to U.S.-based infrastructure investor I Squared Capital.

[CutID: <Cuts> GERMANY-DEUTSCHE-BAHN-house-q-THUam.mp3
Time: 30s
Title: GERMANY-DEUTSCHE-BAHN-house-q-THUam
Out-cue: company in 2010]

TAG: Correspondent Jeremy House reporting. Deutsche Bahn didn’t disclose the value of the planned sale in Thursday’s announcement. It said the transaction should be completed next year.

—————————–
VERBATIM: Deutsche Bahn is selling Arriva “to enable additional growth in rail transport in Germany and allow it to focus its resources on its core business.” Arriva has about 35,500 employees and operates in 10 European countries. It has bus and train units in the U.K. and also has operations in the Netherlands, the Czech Republic, Croatia and Hungary among other countries. Deutsche Bahn acquired the British-based company in 2010.

China criticizes U.S. move to limit access to advanced computer chips

( ) -q-21- UNDATED (Correspondent Jeremy House) “and artificial intelligence.”

Beijing has vigorously protested the U.S. Commerce Department’s latest update of export controls to prevent exports to China of advanced computer chips and the equipment to make them.

[CutID: <Cuts> CHINA-US-CHIPS-house-q-WEDam.mp3
Time: 21s
Title: CHINA-US-CHIPS-house-q-WEDam
Out-cue: and artificial intelligence]

TAG: Correspondent Jeremy House reporting. The Chinese Commerce Ministry said Beijing would take “all necessary measures” to safeguard its rights and interests, without giving any details.

——————————-
VERBATIM: China’s Commerce Ministry said the controls were “improper,” urging that Washington end them as soon as possible. The remarks were in response to questions about revisions of U.S. export controls meant to counter use of such chips for military applications. They include the development of hypersonic missiles and artificial intelligence.

Europe wants to stem flood of Chinese EVs, but Europeans love them

( ) -q-18- UNDATED (Correspondent Jeremy House) “West and China.”

Chinese automakers are winning over drivers as they make major inroads into Europe’s electric vehicle market.

[CutID: <Cuts> EUROPE-CHINA-EVS-house-q-WEDam.mp3
Time: 18s
Title: EUROPE-CHINA-EVS-house-q-WEDam
Out-cue: West and China]

TAG: Correspondent Jeremy House reporting. Europe is attractive for Chinese EVs because auto import tariffs are a lot lower than in the U.S. One in every five EVs sold in Europe is a Chinese import, if you include vehicles that global automakers like Tesla and BMW build in China.

——————————
VERBATIM: They’re challenging long-established homegrown brands in an industry that’s key to Europe’s green energy transition. China’s competitive threat has spurred the European Union to launch an investigation into Beijing’s support for its EV industry. That adds to tech-related tensions between the West and China.

China’s economy grows 4.9% in Q3, but slows from previous quarter

( ) -q-26– UNDATED (Correspondent Jeremy House) “on home-buying.”

China’s economy slowed in the summer as global demand for its exports faltered and the ailing property sector sank deeper into crisis.

[CutID: <Cuts> CHINA-ECONOMY-house-q-WEDam.mp3
Time: 26s
Title: CHINA-ECONOMY-house-q-WEDam
Out-cue: on home-buying]

TAG: Correspondent Jeremy House reporting. Trade data released last week showed exports and imports continued to decline in September though they contracted at a slower rate than in the month before.

————————–
VERBATIM: China’s government says the economy expanded at a 4.9% annual pace in July-to-September, beating analysts’ forecasts of about 4.5%. But that was much slower than the 6.3% annual growth rate of the previous quarter. The Chinese government has issued policy support measures to help the economy. They included raising spending on ports and other infrastructure, cutting interest rates and easing curbs on home-buying.

How China’s Belt and Road Initiative is changing after a decade

( ) -q-26- UNDATED (Correspondent Jeremy House) “in global affairs.”

China’s Belt and Road Initiative looks to become smaller and greener after a decade of big projects that boosted trade but left big debts and raised environmental concerns.

[CutID: <Cuts> CHINA-BELT-AND-ROAD-house-q-TUEam.mp3
Time: 26s
Title: CHINA-BELT-AND-ROAD-house-q-TUEam
Out-cue: in global affairs]

TAG: Correspondent Jeremy House reporting.

—————————
VERBATIM: The shift comes as leaders from across the developing world descend on Beijing this week for a government-organized forum on what is known as BRI for short. The initiative has built power plants, roads, railroads and ports around the world and deepened China’s relations with Africa, Asia, Latin America and the Mideast. It is a major part of Chinese President Xi Jinping’s push for China to play a larger role in global affairs.

PG&E’s plan to bury power lines and prevent wildfires will raise rates

( ) -q-21- UNDATED (Correspondent Jeremy House) “overhead power lines.”

Pacific Gas & Electric wants to bury many of its power lines in areas threatened by wildfires.

[CutID: <Cuts> PG&E-POWER-LINES-house-q-TUEam.mp3
Time: 21s
Title: PG&E-POWER-LINES-house-q-TUEam
Out-cue: overhead power lines]

TAG: Correspondent Jeremy House reporting. The PG&E CEO says the company has a moral obligation to eliminate wildfire risk. Consumer advocates say the company must balance wildfire threats with affordability.

——————————-
VERBATIM: California regulators are balking at their plan in part because of its impact on rates. PG&E customers already pay some of the highest rates in the country. It is expensive to bury power lines and takes a long time to complete. It’s cheaper and faster to install protective coverings on overhead power lines.

Electrical grids aren’t keeping up with the green energy push

( ) -v-36- UNDATED (Correspondent Jeremy House) “std.”

Stalled spending on electrical grids worldwide is slowing the rollout of renewable energy. Correspondent Jeremy House has more on the story.

[CutID: <Cuts> ELECTRICAL-GRIDS-house-v-TUEam.mp3
Time: 36s
Title: ELECTRICAL-GRIDS-house-v-TUEam
Out-cue: std]

————————-
VERBATIM: The lack of sufficient funding could put efforts to limit climate change at risk if millions of miles of power lines aren’t added or refurbished in the next few years. The International Energy Agency reports the capacity to connect to and transmit electricity isn’t keeping pace with the rapid growth of clean energy technology like solar and wind power, electric cars and heat pumps. The IEA’s Executive Director says a long line of renewable projects are waiting to connect to the grid and they could generate five times the amount of solar and wind capacity added worldwide last year…JH reporting.

Putin’s visit to Beijing underscores China’s economic, diplomatic support for Russia

Russian President Vladimir Putin is expected to meet this week with Chinese leaders in Beijing on a visit that underscores China’s support for Moscow during its war in Ukraine. The countries have forged an informal alliance against the United States and other democratic nations that’s now complicated by the Israel-Hamas war. China has sought to balance its ties with Israel with its economic relations with Iran and Syria, which are strongly backed by Russia. Putin’s visit is also a show of support for Chinese leader Xi Jinping’s signature Belt and Road initiative.

Supreme Court dispute over $15,000 IRS bill puts focus on never-enacted billionaire tax

( ) -q-24- UNDATED (Correspondent Jeremy House) “interests among others.”

Charles and Kathleen Moore are about to have their day in the Supreme Court over a $15,000 tax bill they believe is unconstitutional.

[CutID: <Cuts> SCOTUS-IRS-BILL-house-q-MONam.mp3
Time: 24s
Title: SCOTUS-IRS-BILL-house-q-MONam
Out-cue: interests among others]

TAG: Correspondent Jeremy House reporting.

—————————
VERBATIM: The case could upend parts of the U.S. tax code and rule out a much-discussed but never-enacted tax on wealth. The Washington state couple claim they had to pay because of their investment in an Indian company, even though Charles Moore said they never received any distribution, dividend or other payment from the company. The Moores are the public face of a high court case that’s being backed by business interests among others.

Canadian autoworkers ratify new contract with GM, leaving only Stellantis without deal

( ) -q-17- UNDATED (Correspondent Jeremy House) “without a contract.”

Canadian autoworkers have voted to ratify a three-year contract agreement with General Motors.

[CutID: <Cuts> CANADA-AUTOWORKERS-house-q-MONam.mp3
Time: 17s
Title: CANADA-AUTOWORKERS-house-q-MONam
Out-cue: without a contract]

TAG: Correspondent Jeremy House reporting. Talks have yet to start with Stellantis, which has the largest Canadian manufacturing footprint of Detroit’s three automakers. In the United States, strikes continue by the United Auto Workers union with nearly 34,000 workers off their jobs at all three Detroit companies.

——————————
VERBATIM: Unifor is the union representing about 4,300 Canadian workers at three GM facilities. It said the vote was 80.5% in favor of the deal. The vote followed the pattern of an agreement reached earlier with Ford. It leaves only Jeep maker Stellantis without a contract.

JPMorgan profit jumps 35%, but CEO warns of ‘dangerous time’

( ) -q-25- UNDATED (Correspondent Jeremy House) “seen in decades.”

JPMorgan Chase’s third-quarter profit soared 35% from last year.

[CutID: <Cuts> JPMORGAN-PROFIT-house-q-FRIam.mp3
Time: 25s
Title: JPMORGAN-PROFIT-house-q-FRIam
Out-cue: seen in decades]

TAG: Correspondent Jeremy House reporting.

———————–
VERBATIM: The increase in prfit was fueled by a rapid rise in interest rates. However, the bank’s CEO, Jamie Dimon, issued a sobering statement about the current state of world affairs and economic instability. Dimon said the Russia-Ukraine and Israel-Palestinian wars, high levels of government debt and deficits and high inflation are contributing to what he calls “the most dangerous time the world has seen in decades.”

An on-going gloomy outlook for China’s economy

( ) -q-24- UNDATED (Correspondent Jeremy House) “signs of improvement.”

China’s economy remains in the doldrums.

[CutID: <Cuts> CHINA-ECONOMY-house-q-FRIam.mp3
Time: 24s
Title: CHINA-ECONOMY-house-q-FRIam
Out-cue: signs of improvement]

TAG: Correspondent Jeremy House reporting. The faltering recovery of the world’s second largest economy from the shocks of the COVID-19 pandemic is dragging on regional and global growth, though economists have said the worst might have passed.

EU warns China of more protectionism if trade deficit isn’t reduced

( ) -q-19- UNDATED Correspondent Jeremy House) “China’s Foreign Minister.”

The European Union’s top foreign policy official has warned that public sentiment in Europe could turn more protectionist if the bloc’s trade deficit with China is not reduced.

[CutID: <Cuts> EU-CHINA-house-q-FRIam.mp3
Time: 19s
Title: EU-CHINA-house-q-FRIam
Out-cue: China’s Foreign Minister]

TAG: Correspondent Jeremy House reporting.

———————————
VERBATIM: Speaking in Beijing on Friday, Josep Borrell called for improved access for European companies that want to export to or invest in China. Borrell is the latest EU official to visit China as the two sides lay the groundwork for a leaders summit later this year. He held talks later with China’s Foreign Minister.