US wholesale inflation picks up slightly in sign that some price pressures remain elevated

(   ) -q-27- UNDATED (Correspondent Jeremy House) “1.9-percent in September.”

Wholesale prices in the United States rose last month.

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TAG: Correspondent Jeremy House reporting. An increase in services prices drove the October increase. Since peaking in mid-2022, inflation has fallen more or less steadily. But average prices are still nearly 20% higher than they were three years ago

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VERBATIM: The increase suggests that the American economy has yet to completely vanquish inflationary pressure. The producer price index — which tracks inflation before it hits consumers — rose 0.2% from September to October. That’s up from a 0.1% gain the month before. Compared with a year earlier, wholesale prices were up 2.4%, accelerating from a year-over-year gain of 1.9% in September.

The number of American filing for jobless claims falls to lowest level in 6 months

( ) -q-23- UNDATED (Correspondent Jeremy House) “with analysts’ expectations.”

The number of Americans applying for unemployment benefits fell to their lowest level in six months last week as layoffs remain at relatively healthy levels.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: The Labor Department reports jobless claim applications fell by 4,000 to 217,000 for the week of November 9. That’s less than the 225,000 analysts forecast. Continuing claims, the total number of Americans collecting jobless benefits, fell to 1.87 million for the week of November 2, in line with analysts’ expectations.

Australia will require social media platforms to act to prevent online harm to users

( ) -q-27- UNDATED (Correspondent Jeremy House) “be safer environments.”

Australia plans to require social media platforms to act to prevent online harms to users such as bullying, predatory behavior and algorithms pushing destructive content.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: Australia’s Communications Minister says the digital “duty of care” requirement will place the onus on digital platforms to proactively keep Australians safe and better prevent online harm. Next week, the government will introduce legislation that would ban children younger than 16 from platforms including X, Instagram, Facebook and TikTok. Critics say banning young users reduces incentives for social media platforms to be safer environments.

Supreme Court seems likely to allow class action to proceed against tech company Nvidia

( ) -v-38- UNDATED (Correspondent Jeremy House) “std.”

The Supreme Court seems likely to keep alive a class-action lawsuit accusing Nvidia of misleading investors about its dependence on selling computer chips for the mining of volatile cryptocurrency. Correspondent Jeremy House reports.

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VERBATIM: The justices heard arguments in the tech company’s appeal of a lower-court ruling allowing a 2018 suit led by a Swedish investment management firm to continue. It’s one of two high court cases involving class-action lawsuits against tech companies. Last week, the justices wrestled with whether to shut down a multibillion-dollar class action investors’ lawsuit against Facebook parent Meta stemming from the privacy scandal involving the Cambridge Analytica political consulting firm. Nvidia is among the most valuable companies in the S&P 500, worth over $3 trillion…JH, Washington.

Just Eat Takeaway sells Grubhub for $650 million, just 3 years after buying the app for $7.3 billion

( ) -q-22- UNDATED (Correspondent Jeremy House) “Grubhub’s last sale.”

European food delivery giant Just Eat Takeaway.com is selling Grubhub for $650 million, a fraction of the billions it spent to buy the U.S. platform just three years ago.

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TAG: Correspondent Jeremy House reporting. Back in 2020, during the early days of the COVID-19 pandemic and a surge in demand for takeout meals, Just Eat agreed to buy Grubhub for $7.3 billion — in a transaction that was later finalized in 2021.

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VERBATIM: Wonder Group, a New York-based food ordering company that touts “fast fine” dining, is set to be Grubhub’s new owner. Under terms of the deal, Wonder will acquire Grubhub from Just Eat Takeaway.com for $150 million in cash and $500 million in senior notes. That’s far less than than the pricetag on Grubhub’s last sale.

Cotton Elected Conference Chair, Media Point Man For Senate GOP

GOP Candidate Hovde May Seek Recount In Close Wisconsin Senate Race

S.D. Senator John Thune Wins Election As Senate Majority Leader

US inflation rose slightly last month after 2 years of steady cooling but remained low

( ) -q-23- UNDATED (Correspondent Jeremy House) “in seven months.”

Inflation in the United States ticked up in October.

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TAG: Correspondent Jeremy House reporting. From September to October, prices edged up 0.2%. An uptick in prices, if sustained, could stir concerns in financial markets that progress in taming inflation may be slowing. It might also make the Federal Reserve less inclined to cut its key interest rate in the coming months. Still, most economists think inflation will eventually resume its slowdown.

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VERBATIM: Consumer prices rose 2.6% from a year earlier, up from 2.4% in September. The increase was driven by costlier rents, used cars, and air fares, a sign that price increases might be leveling off after having slowed in September to their lowest pace since 2021. It was the first increase in annual inflation in seven months.

Argentina’s monthly inflation drops to 2.7%, the lowest level in 3 years

( ) -q-15- UNDATED (Correspondent Jeremy House) “inflation was 3.5-percent.”

Argentina’s inflation slowed to 2.7% in October.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: It was the lowest level in three years in a win for the libertarian government of President Javier Milei. He came to power almost a year ago promising to pull Argentina out of a dire economic crisis. In September, inflation was 3.5%.

Chinese hackers target Tibetan websites in malware attack, cybersecurity group says

( ) -q-25- UNDATED (Correspondent Jeremy House) “target of cyberattacks.”

A hacking group that is believed to be Chinese state-sponsored has compromised two websites with ties to the Tibetan community.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: It’s an attack meant to install malware on users’ computers. The cybersecurity firm Insikt Group, the hack of the two websites appears geared toward obtaining access to the computers of people visiting to obtain information on them and their activities. Chinese authorities have consistently denied any form of state-sponsored hacking, saying China itself is a major target of cyberattacks.

Sen. Rick Scott Says As GOP Leader He Would Accomplish Trump Agenda

Schumer Relents, Invites Republican McCormick To Orientation

Fetterman Says He’ll Vote To Confirm Rubio As Secretary Of State

Southwest offers buyouts to airport workers, blames Boeing for job cuts

( ) -q-22- UNDATED (Correspondent Jeremy House) “ground-operations employees.”

Southwest Airlines is offering buyouts to ground workers at many of its airports, and it’s blaming Boeing for the reductions.

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TAG: Correspondent Jeremy House reporting. Southwest started the year with about 75,000 employees, and hopes to cut that by 2,000 by year end.

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VERBATIM: Southwest says it will offer buyouts and extended leaves of absence to avoid what it calls “overstaffing in certain locations.” Southwest is getting fewer new planes than it expected from Boeing because of the manufacturer’s own problems. Southwest wants to reduce the number of baggage handlers, customer-service agents and other ground-operations employees.

Japan’s SoftBank returns to profit

( ) -q-24- UNDATED (Correspondent Jeremy House) “and AI applications.”

Japanese technology conglomerate SoftBank Group swung back to profitability in the July-to-September quarter, boosted by its Vision Fund investments.

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TAG: Correspondent Jeremy House reporting. The quarterly performance was also helped by the absence of losses related to SoftBank’s investment in office-space sharing venture WeWork, which hit the previous year.

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VERBATIM: The Tokyo-based company reported fiscal second-quarter profit of nearly 7.7 billion dollars. SoftBank credited income as coming from royalties and licensing related to its holdings in Arm, a computer chip-designing company. Its business spans smartphones, data centers, networking equipment, automotive, consumer electronic devices, and AI applications.

Home Depot’s Q3 results top Wall Street as consumer spending picks up

( ) -q-22- UNDATED (Correspondent Jeremy House) “by FactSet predicted.”

Home Depot continued to deal with a pullback in spending from customers in its fiscal third quarter.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: The pullback was less severe than in the past, and its performance beat Wall Street’s expectations. The home improvement retailer also boosted its full-year revenue outlook. Revenue for the Atlanta-based company improved 6.6% to $40.22 billion. That topped the $39.31 billion that analysts surveyed by FactSet predicted.

Senator Eric Schmitt Has No Wish To Be US Attorney General

Schumer: Declared GOP Winner Of PA Senate Race Not Invited To Orientation

Trump has vowed to kill US offshore wind projects. Will he succeed?

( ) -q-25- UNDATED (Correspondent Jeremy House) “and energy independence.”

Opponents of offshore wind energy projects expect President-elect Donald Trump to kill an industry he has vowed to end on the first day he returns to the White House.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: Whether Mr. Trump will succeed is unclear. Numerous offshore wind projects have approvals and at least three are operating. Foes of the industry say the president-elect could prohibit future offshore wind leases and exert leverage over projects that are not as far along. The wind industry has offered to work with Mr. Trump and his allies in Congress, highlighting job creation and energy independence.

Carvana CEO: price declines, interest rate cuts should make used vehicles more affordable

( ) -v-35- UNDATED (Correspondent Jeremy House) “std.”

Carvana’s CEO is promoting used vehicles as being more affordable. Correspondent Jeremy House reports.

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VERBATIM: Since it started selling cars in 2013, Carvana has disrupted the U.S. used vehicle market with no-haggle pricing and an online buying process that cuts out the salesman. The Tempe, Arizona, company took advantage of many buyers’ fear of negotiating with a dealer, letting them purchase vehicles via computer and have them delivered to their homes. CEO and co-founder Ernie Garcia says the company has lower costs than conventional dealerships because it doesn’t have expensive real estate across the nation.

The Singles’ Day shopping festival loses its shine under China’s lagging economy

( ) -q-29- UNDATED (Correspondent Jeremy House) “and deflationary pressures.”

The Singles’ Day shopping festival is looking less shiny this year as e-commerce firms look abroad for growth.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: The annual event named by the numeric form of its November 11 date was started by e-commerce platform Alibaba, which offered attractive discounts to entice shoppers to spend big. The extravaganza has since expanded to other platforms and countries and often runs for weeks. But consumers in China are no longer going all out on spending sprees while China’s domestic economy is being dragged down by a real estate crisis and deflationary pressures.

Trump Wins In Arizona. Sweeps All Seven 2024 Swing States

Donald Trump has been declared the winner in Arizona, allowing him to complete a sweep of all seven swing states in this year’s election. Arizona, which holds 11 Electoral College votes, had been trending blue in recent years, with many statewide jobs held by Democrats, but the former president brought it back to Republicans. The victory returns Arizona and its 11 electoral votes to the Republican column after Joe Biden’s 2020 victory. The win over Kamala Harris marks Trump’s second in Arizona since 2016. Trump campaigned on border security and the economy, tying Harris to inflation and record illegal border crossings during Biden’s administration.

Senator Thune Urges Trump To Stay Out Of GOP Leadership Battle