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News reports from around the world.
Fed set to cut rates again while facing a hazy post-election outlook
( ) -q-24- UNDATED (Correspondent Jeremy House) “office in January.”
No one knows how Tuesday’s presidential election will turn out, but the Federal Reserve’s move two days later is much easier to predict.
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TAG: Correspondent Jeremy House reporting.
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VERBATIM: With inflation continuing to cool, the Fed is set to cut interest rates for a second time this year. On Thursday, the Fed’s policymakers are on track to cut their benchmark rate by a quarter-point, to about 4.6%, after having implemented a half-point reduction in September. The Fed’s future actions, though, will become more unsettled once a new president and Congress take office in January.
OPEC extends its oil output cuts by one month until the end of December
( ) -q-25- UNDATED (Correspondent Jeremy House) “by one month.”
Saudi Arabia and allied oil producing countries say they will postpone a plan to gradually increase oil output until the end of the year.
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TAG: Correspondent Jeremy House reporting.
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VERBATIM: The group extended output cuts by one month. No reason was given for the move, which comes ahead of the U.S. presidential election on Tuesday. In June, OPEC said 2.2 million barrels a day in voluntary cuts were extended until September but would then be gradually reduced month by month until they are eliminated by September 2025. OPEC later extended the cuts until November. On Sunday, they extended the cuts again by one month.
The UAE opens its annual oil-and-gas summit
( 8a ) -q-26- UNDATED (Correspondent Jeremy House) “barrels a day.”
The United Arab Emirates has opened its annual oil-and-gas summit as it plans to increase energy output even as global prices have fallen.
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TAG: Correspondent Jeremy House reporting.
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VERBATIM: The massive Abu Dhabi International Petroleum Exhibition and Conference comes after the UAE just last year hosted the United Nations COP28 climate talks. Those talks ended with a call by nearly 200 countries to move away from fossil fuels — the first time the conference made that pledge. But the UAE as a whole still plans to increase its production of oil to 5 million barrels a day.
Hurricanes, strikes hurt job growth in October
( ) -q-27- UNDATED (Correspondent Jeremy House) “jobs in October.”
America’s employers added just 12,000 jobs in October.
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TAG: Correspondent Jeremy House reporting. The unemployment rate remained at 4.1%. The report provided a somewhat blurry view of the job market at the end of a presidential race that has pivoted heavily on voters’ feelings about the economy.
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VERBATIM: It’s a total that economists say was held down by the effects of strikes and hurricanes that left many workers temporarily off payrolls. Last month’s hiring gain was down significantly from the 223,000 jobs that were added in September. But economists have estimated that Hurricanes Helene and Milton, combined with strikes at Boeing and elsewhere, had the effect of pushing down net job growth by tens of thousands of jobs in October.
Apple sells $46 billion worth of iPhones over the summer as AI helps end slump
( ) -q-26- UNDATED (Correspondent Jeremy House) “iPhone’s quarterly sales.”
Apple snapped out of a recent iPhone sales slump during its summertime quarter.
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TAG: Correspondent Jeremy House reporting.
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VERBATIM: It’s an early sign Apple’s recent efforts to revive demand for its marquee product with an infusion of artificial intelligence are paying off. According to Apple’s fiscal fourth-quarter report, sales of the iPhone totaled $46.2 billion for the July-to-September period, a 6% increase from the same time last year. That improvement reversed two consecutive year-over-year declines in the iPhone’s quarterly sales.
Los Angeles County sues Pepsi and Coca-Cola over plastic bottles
( ) -q-30- UNDATED (Correspondent Jeremy House) “100% recycled plastic.”
Los Angeles County is taking on Pepsi and Coke for their role in plastic pollution.
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TAG: Correspondent Jeremy House reporting. Pepsi and Coca-Cola have been ranked as the world’s top plastic polluters for five consecutive years.
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VERBATIM: In a lawsuit filed this week, the county alleged Pepsi and Coca-Cola have misled the public about the recyclability of their plastic bottles and downplayed the negative impacts of plastic disposal. Coca-Cola and Pepsi own brands like Dasani, Sprite, Gatorade, Mountain Dew, and more. A spokesperson representing both companies denied the accusations, saying their bottles are “designed to be recycled and remade and can include up to 100% recycled plastic.”
Will people leave Florida after devastating hurricanes? History suggests not
( ) -q-28- UNDATED (Correspondent Jeremy House) “last two decades.”
Up and down Florida’s Gulf Coast, residents are deciding whether to stay or go following two recent hurricanes.
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TAG: Correspondent Jeremy House reporting.
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Such questions about Florida’s appeal are raised regularly after the state experiences a busy hurricane season. One such season was in 2004, when four hurricanes crossed the Sunshine State. If moves into the state offer any answer, then hurricanes have served little as deterrents. Florida’s population has grown by a third to 23 million residents in the two decades since Charley, Frances, Jeanne and Ivan ravaged the state.
52-48? Senate Republicans Eyeing Wide Majority In 119th Congress
Meta’s third-quarter profit surges 35%
( ) -v-33- UNDATED (Correspondent Jeremy House) “std.”
Meta Platforms has posted stronger-than-expected third-quarter results fueled by its advertising revenue growth and its push to incorporate artificial intelligence. Correspondent Jeremy House reports.
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VERBATIM: Despite the strong results, the Instagram and Facebook parent company warned that it expects a significant acceleration in infrastructure spending next year. For the three months ending on September 30, the Menlo Park, California, company earned $15.69 billion, or $6.03 per share. That’s up 35% from $11.58 billion, or $4.39 per share, in the same period a year earlier. Revenue rose 19%. JH reporting.
Samsung reports ‘major’ progress in supply deal for AI chips
( ) -q-27- UNDATED (Correspondent Jeremy House) “weaker U.S. dollar.”
Samsung Electronics has reported progress on a major supply deal for artificial intelligence-focused chips, aiming to reassure investors following a slowdown in semiconductor profits during the last quarter.
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TAG: Correspondent Jeremy House reporting.
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VERBATIM: The South Korean technology giant says its operating profit for the July-to-September period increased by more than 277% from a year earlier to $6.65 billion. But the figure represented a 12% decline from the second quarter. Samsung attributed the decline largely to one-off costs such as provision of employee incentives in its computer chip division and the effects of a weaker U.S. dollar.
US applications for jobless benefits fall as layoffs remain at healthy levels
( ) -q-20- UNDATED (Correspondent Jeremy House) “to 236-thousand, 500.”
Fewer Americans filed for unemployment benefits last week.
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TAG: Correspondent Jeremy House reporting. Continuing claims, the total number of Americans collecting jobless benefits, declined by 26,000 to 1.86 million for the week of October 19.
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The Labor Department reports jobless claim applications fell by 12,000 to 216,000 for the week of October 26. That’s fewer than the 227,000 analysts forecast. The four-week average of weekly claims fell by 2,250 to 236,500.
Microsoft reports quarterly sales up 16% to $65.6 billion
( ) -q-25- UNDATED (Correspondent Jeremy House) “company’s annual revenue.”
Microsoft reports its quarterly sales grew 16% to $65.6 billion as the company sought to assure investors its huge spending on artificial intelligence is paying off.
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TAG: Correspondent Jeremy House reporting.
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VERBATIM: The company has spent billions of dollars to expand its global network of data centers and other physical infrastructure required to develop AI technology. That technology would compose documents, make images and serve as a lifelike personal assistant at work or home. Microsoft’s CEO says as a result, AI-related products are now on track to contribute about $10 billion to the company’s annual revenue.
Senator Cruz Holds Two Point Lead Over Challenger Alred In Texas Poll
Senator Fischer of Nebraska says Opponent “Independent” In Name Only
Google’s moneymaking machine still pumping out massive profits
( ) -q-28- UNDATED (Correspondent Jeremy House) “declared illegal monopolies.”
Google is still thriving while the company navigates through a pivotal shift to artificial intelligence and battles regulators trying to topple its internet empire.
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TAG: Correspondent Jeremy House reporting.
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VERBATIM: The latest evidence of Google’s prosperity emerged with the release of its corporate parent Alphabet’s results for the July-to-September period. Both Alphabet’s profit and revenue increased at a brisker pace than industry analysts predicted. That was thanks primarily to a moneymaking machine powered by Google’s ubiquitous search engine. But, a cloud of uncertainty hangs over Google after both its search engine and Android apps stores were declared illegal monopolies.
Iran lifts its ban on imports of new iPhone models in place since last year
( ) -q-27- UNDATED (Correspondent Jeremy House) “many young Iranians.”
Iranian authorities have lifted a ban on imports of new iPhone 14, 15 and 16 models by the U.S. tech giant Apple.
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TAG: Correspondent Jeremy House reporting.
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VERBATIM: The ban had been in place since 2023. The Telecommunications Minister says the problem of registering new iPhone models on the Iranian market was “solved” and that Iran’s president backed the efforts of the communication ministry toward that goal. Following the 2023 ban, iPhone 13 and older versions could still be imported amid high demand for items that remain a status symbol among many young Iranians.
SCOTUS Sides With VA Effort To Clean Up Voter Rolls
“A Spiritual Issue”: Pastor Jack Hibbs Says Christians Who Don’t Vote Shirking Their Civil and Spiritual Duties
Another delay at start of the Dungeness crab season in California.
A proposal to shutter three VW pants in Germany
( ) -q-24- UNDATED (Correspondent Jeremy House) “layoffs through 2009.”
The head of Volkswagen’s works council says the company has informed employee representatives that it wants to close at least three plants in Germany.
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TAG: Correspondent Jeremy House reporting.
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VERBATIM: Employee council chief Daniela Cavallo said at a meeting with Volkswagen workers that management also plans cuts at other sites. Volkswagen said in early September that auto industry headwinds mean it can’t rule out plant closures in its home country. The company added it must drop a job protection pledge in force since 1994 that would have barred layoffs through 2029.
Indian, Spanish leaders launch India’s first private military aircraft plant
( ) -q-29- UNDATED (Correspondent Jeremy House) “an industrial powerhouse.'”
Indian Prime Minister Narendra Modi and his Spanish counterpart Pedro Sanchez have inaugurated India’s first private military aircraft plant.
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TAG: Correspondent Jeremy House reporting. Sanchez was welcomed to India on Monday with a roadshow in Gujarat state’s Vadodara city where hundreds cheered and waved banners.
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VERBATIM: It’s a boost to New Delhi’s ambitions of growing local manufacturing in its defense and aerospace industries. The Tata Aircraft Complex is the manufacturing hub which will produce the Airbus C-295 transport military aircraft in collaboration with Airbus Spain. The plane will be deployed by the Indian air force. Sanchez said the project was a triumph of Modi’s vision “to turn India into an industrial powerhouse.”
