Salem Radio Network News Thursday, October 6, 2022

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News reports from around the world.

US applications for jobless benefits increased last week

Thu, Oct 6, 2022 at 9:56 am

( ) -q-22- UNDATED (Correspondent Jeremy House) “September jobs report.”

More Americans filed for unemployment benefits last week.

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Out-cue: September jobs report]

TAG: Correspondent Jeremy House reporting.

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VERBATIM: According to the Labor Department, jobless claims for the week ending October 1 rose by 29,000 to 219,000. Last week’s number was revised down by 3,000 to 190,000. The Federal Reserve takes labor force data into consideration when making its rate decisions. But the more important data comes Friday in the form of the September jobs report.

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Europe’s leaders gather in Prague but Russia isn’t invited

Thu, Oct 6, 2022 at 9:54 am

( ) -q-19- UNDATED (Correspondent Jeremy House) “order without Russia.'”

Leaders from around 44 countries are gathering to launch a “European Political Community” aimed at boosting security and economic prosperity across the continent.

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TAG: Correspondent Jeremy House reporting. Critics claim the new forum is an attempt to put the brakes on European Union enlargement. Others fear it may become a talking shop, meeting once or twice a year but devoid of clout.

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VERBATIM: The summit involves the 27 EU member countries, aspiring partners in the Balkans and Eastern Europe, as well as neighbors like Britain and Turkey. The one country not invited to the event is Russia. EU foreign policy chief Josep Borrell says “this meeting is a way of looking for a new order without Russia.”

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Pilots strike cancels flights at German carrier Eurowings

Thu, Oct 6, 2022 at 9:51 am

( ) -q-21- UNDATED (Correspondent Jeremy House) “working conditions stalled.”

A pilots strike at budget airline Eurowings has forced the German carrier to cancel hundreds of flights.

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TAG: Correspondent Jeremy House reporting. Pilots are asking for the maximum number of flying hours to be reduced. Strikes at parent company Lufthansa were called off last month after the airline and union reached a pay deal to address the effects of inflation.

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VERBATIM: The Lufthansa subsidiary said about half of its 500 daily flights on Thursday were canceled. That affected tens of thousands of passengers. German airports are heavily affected, but also others such as Stockholm, Prague and Mallorca. The pilots union announced the walkout after talks with management about improving working conditions stalled.

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Sri Lanka begins crucial debt restructuring talks with China

Thu, Oct 6, 2022 at 9:49 am

( ) -q-21- UNDATED (Correspondent Jeremy House) “its foreign debt.”

Sri Lanka’s government has started debt restructuring discussions with China.

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TAG: Correspondent Jeremy House reporting. Sri Lanka has a preliminary agreement with the IMF for a $2.9 billion rescue package, but finalization hinges on assurances from Sri Lanka’s creditors on debt restructuring.

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VERBATIM: It’s an important step toward finalizing an International Monetary Fund rescue of the island nation from its worst economic crisis. Sri Lanka’s president told Parliament that the initial talks will continue after China’s Communist Party congress meeting that begins October 16. Sri Lanka is nearly bankrupt and has suspended repaying its foreign debt.

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‘So many children dying’: Somalia drought brings famine near

Wed, Oct 5, 2022 at 11:10 am

( ) -q-21- UNDATED (Correspondent Jeremy House) “will fail, too.”

Somalia is in the midst of the worst drought anyone there can remember as more than 1 million residents have fled.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: A rare famine declaration could be made within weeks. Climate change and fallout from the war in Ukraine are in part to blame. Thousands of people have died, many of them children. The drought has astonished herders and farmers by lasting four failed rainy seasons, starting two years ago. The fifth is underway and likely will fail too.

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WTO predicts trade growth to slow next year amid crises

Wed, Oct 5, 2022 at 11:09 am

( ) -q-27- UNDATED (Correspondent Jeremy House) “year in April.”

The World Trade Organization is predicting global trade volumes to grow a lackluster 1% next year.

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TAG: Correspondent Jeremy House reporting. Trade volumes are set to grow just 1% next year, down from the 3.4% expected previously.

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VERBATIM: The Geneva-based trade body says its prediction is based on higher energy prices, rising interest rates and uncertainties about Chinese manufacturing output amid the lingering COVID-19 pandemic. The WTO says the total amount of goods shipped between countries are expected to rise 3.5% this year. That’s up from the 3% that WTO anticipated in its first forecast for the year in April.

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Ian deals blow to Florida’s teetering insurance sector

Wed, Oct 5, 2022 at 11:07 am

( ) -q-19- UNDATED (Correspondent Jeremy House) “homes in Florida.”

Florida’s home insurance market, which was already on shaky ground, now faces an even mightier struggle after the damage caused by Hurricane Ian.

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TAG: Correspondent Jeremy House reporting. The wreckage comes at a time when Florida’s home insurance market was already dealing with billions of dollars in losses and ever-increasing costs from a string of natural disasters, rampant litigation and increasing fraud.

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VERBATIM: Wind and storm-surge losses from the hurricane could reach between 28 and 47 billion dollars. One property analytics firm says that would make Ian Florida’s costliest storm since Hurricane Andrew made landfall in 1992. The firm says the storm destroyed a record number of homes in Florida.

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American Airlines CEO defends JetBlue deal to federal judge

Tue, Oct 4, 2022 at 9:36 am

( ) -q-24- UNDATED (Correspondent Jeremy House) “City-area airports.”

The CEO of American Airlines has defended his airline’s partnership with JetBlue.

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TAG: Correspondent Jeremy House reporting. The Justice Department is trying to convince a federal judge to kill the American-JetBlue partnership, which they say limits competition and will lead to higher prices.

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Robert Isom says there is no other way for American to grow fast enough to compete with Delta and United in the Northeast. Isom testified as the trial in the government’s antitrust lawsuit against American and JetBlue moved into its second week. He says American was at a disadvantage because Delta and United grew earlier through mergers, and they had a bigger presence at New York City-area airports.

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CDC drops traveler health notices for individual countries

Tue, Oct 4, 2022 at 9:34 am

( ) -q-28- UNDATED (Correspondent Jeremy House) “for that country.”

The CDC is doing away with notices about the COVID-19 risk of visiting specific countries.

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Out-cue: for that country]

TAG: Correspondent Jeremy House reporting.

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VERBATIM: The Centers for Disease Control and Prevention says it’s dropping the notices because fewer countries are testing for the virus or reporting the number of COVID-19 cases. That makes it harder for CDC to judge the risk facing travelers. A CDC spokeswoman says the agency will only post a notice for an individual country if a situation such as a troubling new variant of the virus changes CDC travel recommendations for that country.

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Officials: US to send Ukraine more advanced rocket systems

Tue, Oct 4, 2022 at 9:33 am

( ) -q-27- UNDATED (Correspondent Jeremy House) “supply its troops.”

The U.S. will soon deliver to Ukraine four more of the advanced rocket systems credited with helping the country’s military gain momentum in its war with Russia.

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Time: 27s
Title: US-UKRAINE-ROCKETS-house-q-TUEam
Out-cue: supply its troops]

TAG: Correspondent Jeremy House reporting.

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VERBATIM: U.S. officials say the High Mobility Artillery Rocket Systems, known as HIMARS (HIGH mars), will be part of a new $625 million package of aid. The decision marks the first time the U.S. has sent more HIMARS to Ukraine since late July, and it will bring the total number delivered so far to 20. The systems have become a key tool in Ukraine’s ability to strike bridges that Russia has used to supply its troops.

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India launches 5G services, Modi calls it step in new era

Mon, Oct 3, 2022 at 9:37 am

( ) -q-27- UNDATED (Correspondent Jeremy House) “in 18 months.”

Prime Minister Narendra Modi has launched 5G services in India, calling it a “step towards the new era.”

[CutID: <Cuts> INDIA-5G-house-q-MONam.mp3
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Out-cue: in 18 months]

TAG: Correspondent Jeremy House reporting. Research agency OMDIA projects that with 369 million 5G subscriptions – over half the total global 5G subscriptions currently – India will be just behind China and the U.S. in world rankings by 2026.

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VERBATIM: The government says the launch in select cities will cover the entire country over the next couple of years. Bharti Airtel is rolling out its 5G services in eight cities and has set March 2024 as the deadline for countrywide coverage for as many as 5,000 towns. Reliance Jio telecom company plans to start from four metropolitan areas in October and hopes to reach most cities and towns in 18 months.

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Europe faces ‘unprecedented risk’ of gas shortage, IEA says

Mon, Oct 3, 2022 at 9:36 am

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

Europe is facing unprecedented risks to its energy supply this winter. Correspondent Jeremy House has more on the story.

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VERBATIM: That’s the word from the International Energy Agency, which says in its quarterly gas report that people will have to save at least 13% over the winter if Russia cuts off the last trickle of gas that’s flowing to Europe. The Paris-based group says only by saving, can Europe avoid a severe shortage if Russian gas halts completely over the war in Ukraine. Europe also could wind up competing with Asian countries for scarce supplies of liquefied natural gas that come by ship. Things will be even tighter if the weather is cold late in the winter…JH reporting.

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TikTok politics: Candidates turn to it ‘for better or worse’

Mon, Oct 3, 2022 at 9:34 am

( ) -q-21- UNDATED (Correspondent Jeremy House) “for the platform.”

As TikTok’s popularity has exploded, young voters are increasingly using the app to learn about politics, elections and issues.

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Out-cue: for the platform]

TAG: Correspondent Jeremy House reporting. The warning is not denting TikTok’s popularity though. TikTok continues to be one of the most downloaded and used sites on the internet.

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VERBATIM: And candidates are taking notice. But while politicians from both parties promote the app as a powerful way to reach young voters, some elected officials urge caution. They say concerns about TikTok’s parent company, its ties to China’s government and its handling of user data should make anyone think carefully before signing up for the platform.

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Europe’s largest economy is sending recession signals

Sun, Oct 2, 2022 at 2:19 pm

Europe’s largest economy is sending recession signals

VERBATIM:

Germany’s key future indicator has dropped for the fourth month in a row as high inflation fed by astronomical natural gas prices undermines consumer pricing power and imposes heavy costs on businesses. The Ifo index dropped to 84.3 in September from 88.5 in August. That is its lowest level since the global financial crisis more than a decade ago.

 

 

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California Governor Gavin Newsom has approved one of the most contentious bills before him this year

Sun, Oct 2, 2022 at 2:17 pm

California Governor Gavin Newsom has approved one of the most contentious bills before him this year

VERBATIM:

It’s a measure aiding efforts by farmworkers to unionize that was backed by President Biden and Vice President Harris. Their support put Newsom in a difficult political position after his office previously criticized the proposal. But Newsom negotiated upcoming changes before signing the bill.

 

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The focus will be on the employment picture, with reports from the government and the private sector due this week:

Sun, Oct 2, 2022 at 2:16 pm

The focus will be on the employment picture, with reports from the government and the private sector due this week:

VERBATIM:

We’ll find out how the job market fared last month when the government releases the September employment report on Friday. Prior to that, payroll processor ADP will issue its closely-watched jobs report Wednesday. Also due this week, updates on the number of job openings and a tally of the number of people who quit their jobs. Reports on construction spending, factory orders and consumer credit are also scheduled for release in the coming week. Rich Thomason reporting.

 

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Japan to pay up to $320M for US company’s chip production

Fri, Sep 30, 2022 at 12:04 pm

( ) -q-27- UNDATED (Correspondent Jeremy House) “the two countries.”

Japan said it is providing a major U.S. chipmaker a subsidy of up to $322 million to back its plan to produce advanced memory chips at a Hiroshima factory.

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Out-cue: the two countries]

TAG: Correspondent Jeremy House reporting.

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VERBATIM: The two countries are stepping up cooperation on expanding manufacturing and supply chains for critical materials. Japan’s Economy and Trade Minister said the government approved the Micron Technologies deal under a law related to economic security. The announcement follows U.S. Vice President Kamala Harris’ visit in Japan where she met with Japanese government and semiconductor officials to seek greater cooperation between the two countries.

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‘Big impact’: UK economic chaos, pound plunge hit businesses

Fri, Sep 30, 2022 at 12:03 pm

( ) -q-19- UNDATED (Correspondent Jeremy House) “protect pension funds.”

British Prime Minister Liz Truss and her Treasury chief have met with the independent Office of Budget Responsibility amid efforts to ease concerns about unfunded tax cuts that have unleashed turmoil on financial markets.

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Out-cue: protect pension funds]

TAG: Correspondent Jeremy House reporting.The chairman of the House of Commons’ Treasury committee said the meeting may be an opportunity for the government to change course.

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VERBATIM: The meeting was significant because it was the government’s failure to publish the OBR’s analysis of its tax-cutting plans that worried investors. The analysis sent the pound to a record low against the dollar earlier this week. It also forced the Bank of England to intervene in the bond market to protect pension funds.

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Unpaid internships face new scrutiny as barriers to careers

Fri, Sep 30, 2022 at 12:01 pm

( ) -q-28- UNDATED (Correspondent Jeremy House) “perpetuating wealth gaps.”

Unpaid internships are facing new scrutiny from colleges, state lawmakers and student activists.

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Out-cue: perpetuating wealth gaps]

TAG: Correspondent Jeremy House reporting.

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VERBATIM: Nearly half of all internships are unpaid, putting them out of reach for students who need wages to keep up with their bills, even if the work has nothing to do with their intended careers. Many students say they can’t afford to meet internship requirements, and shouldn’t be expected to work unpaid to make it in a given field. The people who can take unpaid internships have financial safety nets, and that means they tend to benefit students who are wealthier and white, perpetuating wealth gaps.

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Resilient US consumers spend slightly more in August

Fri, Sep 30, 2022 at 12:00 pm

( ) -q-26- UNDATED (Correspondent Jeremy House) “of the year.”

Consumers spent a bit more in August than the previous month.

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Out-cue: of the year]

TAG: Correspondent Jeremy House reporting. Today’s (FRIDAY’S) figures suggest that the economy is showing some resilience despite sharply rising interest rates, violent swings in the stock market, and high inflation.

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VERBATIM: The Commerce Department says Americans boosted their spending at stores and for services such as haircuts by 0.4% in August, after it fell 0.2% in July. The government’s report also showed that an inflation gauge closely monitored by the Federal Reserve rose 0.3% last month, which was faster than July. On Thursday the government confirmed that the economy shrank in the first six months of the year.

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US economy drops at 0.6% annual rate from April through June

Thu, Sep 29, 2022 at 11:27 am

( ) -q-19- UNDATED (Correspondent Jeremy House) “and housing investment.”

Battered by surging consumer prices and rising interest rates, the U.S. economy shrank at a 0.6% annual rate from April through Jun.

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Out-cue: and housing investment]

TAG: Correspondent Jeremy House reporting. Most economists, citing a strong and resilient American job market, believe the world’s biggest economy is not yet in a downturn.

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VERBATIM The government announced the figure was unchanged from its previous second-quarter estimate. It marked the second consecutive quarter of economic contraction, one informal rule of thumb for a recession. Consumer spending grew at a 2% annual rate, but that gain was offset by a drop in business inventories and housing investment.

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Fewer people seek US unemployment aid amid solid hiring

Thu, Sep 29, 2022 at 11:25 am

( ) -q-18- UNDATED (Correspondent Jeremy House) “generally reflect layoffs.”

The number of Americans filing for jobless benefits dropped last week, a sign that few companies are cutting jobs despite high inflation and a weak economy.

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TAG: Correspondent Jeremy House reporting. The current figures are very low historically and suggest Americans are benefiting from an unusually high level of job security.

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VERBATIM: The Labor Department says applications for unemployment benefits for the week ending September 24 fell by 16,000 to 193,000. Last week’s number was revised down by 4,000 to 209,000. First-time applications generally reflect layoffs.

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US candidate to lead UN telecoms agency after US-Russia race

Thu, Sep 29, 2022 at 11:24 am

( ) -q-24- UNDATED (Correspondent Jeremy House) “on January first.”

Doreen Bogdan-Martin of the United States has been elected to head the U.N.’s telecommunications agency.

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TAG: Correspondent Jeremy House reporting. Envoys from the 193 member states of the Geneva-based International Telecommunications Union selected Bogdan-Martin over lone rival Rashid Ismailov of Russia at the latest meeting in the Romanian capital of its policy-making body.

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VERBATIM: She won a U.S.-Russia face-off for the leadership of a key global agency that sets guideposts for radio, internet and television communications. The result ended a race that has been overshadowed by geopolitics in the wake of Russia’s war in Ukraine. Bogdan-Martin will take over as the ITU secretary-general for a four-year term on January first.

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Rohingya seek reparations from Facebook for role in massacre

Thu, Sep 29, 2022 at 11:23 am

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

For years, Facebook, now called Meta, has pushed the narrative that it was a neutral platform in Myanmar that was misused by malicious people and failed to moderate violent and hateful material adequately. Correspondent Jeremy House has more on the story.

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VERBATIM: A new report by Amnesty International however, says Facebook was not merely a passive site with insufficient content moderation. Rather, Meta’s algorithms “proactively amplified” material that incited violent hatred against the Rohingya beginning as early as 2012. Amnesty found that despite years of warnings, the company not only failed to remove violent hate speech and disinformation against the Rohingya – it actively spread and amplified it until it culminated in the 2017 massacre…JH reporting.

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Steve Breen
Sun, Oct 2, 2022

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