Salem Radio Network News Monday, September 26, 2022

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News reports from around the world.

Australia mulls tougher cybersecurity laws after data breach

Mon, Sep 26, 2022 at 9:55 am

( ) -q-20- UNDATED (Correspondent Jeremy House) “identity protection service.”

The Australian government says it’s considering tougher cybersecurity rules for telecommunications companies.

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Title: AUSTRALIA-CYBERSECURITY-house-q-MONam
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TAG: Correspondent Jeremy House reporting. Cybersecurity Minister Clare O’Neil told Parliament that a substantial reform task would “emerge from a breach of this scale and size.” She noted that other countries allowed for large fines to be levied over such breaches but Australia had no such law.

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VERBATIM: Officials blame the nation’s second-largest wireless carrier, Optus, for an unprecedented breach of personal data from 9.8 million customers. Optus says it became aware of the cyberattack last week. It has since offered its “most affected” customers a free credit monitoring and identity protection service.

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Apple Inc will manufacture iPhone 14 in India

Mon, Sep 26, 2022 at 9:54 am

( ) -q-21- UNDATED (Correspondent Jeremy House) “last year’s models.”

Apple has announced it will make its iPhone 14 in India.

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TAG: Correspondent Jeremy House reporting. The announcement from the Cupertino, California-based company dovetails with Prime Minister Narendra Modi’s push for local manufacturing. India is the world’s second-largest smartphone market after China but iPhone sales have struggled to capture a large share of the market due to their high price tags.

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VERBATIM: Manufacturers have been shifting production from China amid geopolitical tensions and pandemic restrictions that have disrupted supply chains for many industries. Apple unveiled its newest line-up of iPhones earlier this month. They will have improved cameras, faster processors and longer lasting batteries at the same prices as last year’s models.

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Lights out, ovens off: Europe preps for winter energy crisis

Mon, Sep 26, 2022 at 9:50 am

( ) -q-28- UNDATED (Correspondent Jeremy House) “off their bills.”

Europe is staring down a winter energy crisis.

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TAG: Correspondent Jeremy House reporting. Governments are rolling out relief and have been able to bolster natural gas storage. But analysts say Russia still has leverage with energy prices high and supplies tight.

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VERBATIM: Russia has reduced natural gas supplies as Europe supports Ukraine, and the continent’s ability to get through the winter may depend on how cold it is and competition from Asia. The lights of the Eiffel Tower are turning off earlier than normal and shop windows across Europe are going dark to save energy. High prices mean households and businesses are trying to use less heat and electricity, but they’re running into the hard truth that cutting back only shaves a little off their bills.

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More Americans apply for jobless aid last week

Thu, Sep 22, 2022 at 9:42 am

( ) -q-25- UNDATED (Correspondent Jeremy House) “figure since May.”

The number of Americans filing for jobless benefits rose slightly last week.

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TAG: Correspondent Jeremy House reporting. First-time applications generally reflect layoffs. Fed officials have pointed to the remarkably resilient U.S. labor market as added justification for raising rates five times this year, including three 75-basis point hikes in a row.

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Cyberattack steals passenger data from Portuguese airline

Thu, Sep 22, 2022 at 9:39 am

( ) -q-21- UNDATED (Correspondent Jeremy House) “telephone contact details.”

Portugal’s national airline TAP Air Portugal says hackers obtained the personal data of some of its customers and have published the information on the dark web.

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TAG: Correspondent Jeremy House reporting. Portuguese newspaper Expresso says a hacker group called Ragnar Locker was offering the information of 1.5 million TAP Air Portugal customers on the dark web.

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VERBATIM: The flag carrier said that no payment data was taken in the cyberattack. The airline said the attack began almost a month ago and is being investigated by Portuguese authorities with the help of specialists from Microsoft. The company said hackers obtained the name, nationality, sex, date of birth and address, email and telephone contact details.

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Bank of England rate hike avoids more aggressive step

Thu, Sep 22, 2022 at 9:37 am

( 9a ) -q-26- UNDATED (Correspondent Jeremy House) “in a generation.”

Britain’s central bank has raised its key interest rate by another half-percentage point.

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TAG: Correspondent Jeremy House reporting. The decision was delayed a week as the United Kingdom mourned Queen Elizabeth II.

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VERBATIM: The Bank of England raised its benchmark rate to 2.25% on Thursday, matching its half-point increase last month – the biggest hike in 27 years. The mover avoids more aggressive steps to tame inflation that the U.S. Federal Reserve and other banks have taken. It is the bank’s seventh straight move to increase borrowing costs as rising food and energy prices in the U-K fuel a cost-of-living crisis that is considered the worst in a generation.

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UK businesses laud energy relief, but costs still a struggle

Thu, Sep 22, 2022 at 9:36 am

( ) -q-23- UNDATED (Correspondent Jeremy House) “capped this winter.”

Restaurants, retailers and other businesses across the United Kingdom are being pushed to the brink by skyrocketing energy bills.

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TAG: Correspondent Jeremy House reporting. The government will pick up some of the tab for six months starting October 1 so that businesses pay discounted rates that are “less than half the wholesale prices anticipated this winter.”

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VERBATIM: One bakery owner doubts that even a massive support package announced this week by the U.K. government will make much of a difference to businesses like hers struggling with soaring energy costs amid a wider cost-of-living crisis. Energy prices have been a major factor pushing inflation to a four-decade high. The government says wholesale energy bills for businesses will be capped this winter.

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AAA: gas edges a penny higher to $3.68 per gallon nationally

Wed, Sep 21, 2022 at 12:04 pm

The Triple A says the cost for a gallon edged a penny higher today (Wednesday). Correspondent Ken Lormand reports the national average price rose to about $3.68 per gallon.

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The last time the national average price rose was in the middle of June. It was during that period that prices soared above $5 per gallon. As prices were going down, Mr. Biden and Democrats were touting the falling gas prices… But, Biden critics point out that part of White House’s strategy for bringing down prices included dipping into the Strategic Petroleum Reserve which is now reaching crisis levels. and there are a number of factors that could keep prices where they are, and potentially send them higher

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How much ‘pain’? Fed to signal more rate hikes ahead

Tue, Sep 20, 2022 at 9:07 am

( ) -q-26- UNDATED (Correspondent Jeremy House) “in 14 years.”

Federal Reserve Chair Jerome Powell bluntly warned in a speech last month that the Fed’s drive to curb inflation by aggressively raising interest rates would “bring some pain.”

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: On Wednesday, Americans may get a better sense of how much pain could be in store. The Fed is expected at its latest meeting to raise its key short-term rate by a substantial three-quarters of a point for the third consecutive time. Another hike that large would lift its benchmark rate – which affects many consumer and business loans – to a range of 3% to 3.25%, the highest level in 14 years.

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Britain’s Truss doesn’t expect UK-US trade deal anytime soon

Tue, Sep 20, 2022 at 9:05 am

(   ) -q-27- UNDATED (Correspondent Jeremy House) “the European Union.”

Prime Minister Liz Truss has kicked off her first visit to the United States as Britain’s leader with an admission that a U.K-U.S. free trade deal is not going to happen for years.

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Out-cue: the European Union]

TAG: Correspondent Jeremy House reporting.

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VERBATIM: On her way to the United Nations General Assembly in New York, Truss said “there (aren’t) currently any negotiations taking place with the U.S., and I don’t have an expectation that those are going to start in the short to medium term.” That’s a sharp contrast with the stance of her immediate predecessors, Boris Johnson and Theresa May. Both dangled the promise of a deal with the world’s biggest economy as one of the main prizes of Britain’s exit from the European Union.

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High inflation makes Sweden hike key interest rate

Tue, Sep 20, 2022 at 9:04 am

( ) -q-24- UNDATED (Correspondent Jeremy House) “coming six months.”

Sweden’s central bank has raised its key interest rate by a full percentage point to 1.75%.

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Title: SWEDEN-RATE-HIKE-house-q-TUEam
Out-cue: coming six months]

TAG: Correspondent Jeremy House reporting. Sweden is part of the European Union but does not use the euro, so it is not part of European Central Bank.

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VERBATIM: Officials say inflation is “too high” and “is undermining households’ purchasing power and making it more difficult for both companies and households to plan their finances.” Riksbanken says the increase aims to bring down inflation, which was at 9.0% in August. The central bank said the policy rate “will continue to be raised in the coming six months.”

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AM SPORTSCAST 9-20

Tue, Sep 20, 2022 at 5:43 am

AM SPORTSCAST 9-20

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EU proposes to suspend billions in funds to Hungary

Mon, Sep 19, 2022 at 7:40 am

( ) -q-26- UNDATED (Correspondent Jeremy House) “address the concerns.”

The European Union’s executive branch has recommended that the bloc suspend around 7.5 billion euros in funding to Hungary.

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TAG: Correspondent Jeremy House reporting. The commission has for nearly a decade accused Hungarian Prime Minister Viktor Orban of dismantling democratic institutions. He denies the accusations.

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VERBATIM: The European Commission is concerned about democratic backsliding and the possible mismanagement of EU money. Union Budget Commissioner Johannes Hahn says despite measures Hungary has proposed to address the deficiencies, the commission is recommending the suspension of funds “amounting to an estimated amount of 7.5 billion euros.” Hungary has until Nov. 19 to address the concerns.

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How the strong U.S. dollar can affect everyone

Mon, Sep 19, 2022 at 7:39 am

( ) -q-25- UNDATED (Correspondent Jeremy House) “many U.S. companies.”

The value of the U.S. dollar has been on a tear for more than a year against everything from the British pound across the Atlantic to the South Korean won across the Pacific.

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Out-cue: many U.S. companies]

TAG: Correspondent Jeremy House reporting.

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VERBATIM: The dollar is hovering close to its highest level in more than two decades against a key index measuring six major currencies. Many professional investors don’t expect the dollar to ease off anytime soon. Its rise makes an impact on nearly everyone, even those who will never travel beyond U.S. borders. The strength helps to limit inflation, but it can also hurt profits for many U.S. companies.

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2022 could be a political watershed for Massachusetts women

Mon, Sep 19, 2022 at 7:37 am

( ) -q-29- UNDATED (Correspondent Jeremy House) “elected chief executive.”

Just 20 years ago, Massachusetts voters had yet to elect a woman as governor, attorney general, U.S. senator or mayor of its largest city. As Correspondent Jeremy House, that is very likely to change this year.

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TAG: Andrea Campbell, the former Boston city councilor hoping to succeed Healey as attorney general, would be the first Black woman to hold that post. Since candidates for governor and lieutenant governor run together in the general election, Healey is poised to make history with her running mate, Salem Mayor Kim Driscoll, by becoming the first two-female governor/lieutenant governor ticket elected to lead any state.

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VERBATIM: 2022 is shaping up to be a watershed year for women seeking political power in Massachusetts, a state that despite its liberal reputation has lagged when it comes to electing women to top offices. Democratic women have won five of six statewide primary contests. Democratic Attorney General Maura Healey is heavily favored to flip the Republican-held governor’s office in November, which would make her the state’s first woman elected chief executive.

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Top China official wants high-tech cooperation with S. Korea

Fri, Sep 16, 2022 at 10:12 am

( ) -q-28- UNDATED (Correspondent Jeremy House) “away from China.”

China’s top legislator has called for cooperation with South Korea in advanced technology and supply chains.

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Out-cue: away from China]

TAG: B-B-C Correspondent Jeremy House reporting.

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VERBATIM: Li Zhanshu met South Korean leaders amid concerns that their moves to solidify a military alliance with Washington could hamper Seoul’s ties with Beijing. Li made the comments after meeting with his South Korean counterpart. His comments are likely to reflect concerns in Beijing that its intensifying competition with the United States may lead to supply chain disruptions as some U.S. companies shift sourcing and production away from China.

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Amtrak works to restore routes after rail labor accord

Fri, Sep 16, 2022 at 10:09 am

( ) -q-17- UNDATED (Correspondent Jeremy House) “freight rail lines.”

Amtrak says it is working to quickly restore canceled trains after President Biden announced that a tentative railway labor agreement has been reached.

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Out-cue: freight rail lines]

TAG: Correspondent Jeremy House reporting. Amtrak and many commuter railroads operate on tracks owned by the freight railroads.

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VERBATIM: Amtrak says it is reaching out to impacted customers to accommodate on first available departures. Amtrak had canceled a number of its long-distance trains this week as a potential strike loomed. A strike would have disrupted passenger traffic as well as freight rail lines.

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Hacker claims to breach Uber, security researcher says

Fri, Sep 16, 2022 at 10:07 am

( ) -q-25- UNDATED (Correspondent Jeremy House) “and customer data.”

Uber says it has reached out to law enforcement after the apparent breach of its network.

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Out-cue: and customer data]

TAG: Corresondent Jeremy House reporting. The hacker shared screen shots as proof. Curry said it seemed the hacker was out for publicity.

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VERBATIM: A security engineer said the person taking responsibility had demonstrated how they obtained access. There was no indication that Uber’s fleet of vehicles or there operation was in any way affected. Sam Curry, an engineer with Yuga Labs who communicated with the hacker, said it seemed the hacker had obtained access to the Amazon and Google-hosted cloud environments where Uber stores its source code and customer data.

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Fewer Americans file for jobless benefits again last week

Thu, Sep 15, 2022 at 10:06 am

( ) -q-21- UNDATED (Correspondent Jeremy House) “generally reflect layoffs.”

The number of Americans applying for unemployment benefits fell again last week to a four-month low.

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Out-cue: generally reflect layoffs]

TAG: Correspondent Jeremy House reporting. The four-week average for claims, which offsets some of the weekly volatility, fell by 8,000 to 224,000. Hiring in the U.S. in 2022 has been remarkably strong even in the midst of rising interest rates and weak economic growth.

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VERBATIM: The decline comes even as the Federal Reserve continues its aggressive interest rate cuts to bring inflation under control. The Labor Department says applications for jobless aid for the week ending September 10 fell by 5,000 to 213,000. That’s the fewest since late May. First-time applications generally reflect layoffs.

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Adobe buying Figma in $20B cash-and-stock deal

Thu, Sep 15, 2022 at 10:02 am

( ) -q-26- UNDATED (Correspondent Jeremy House) “to more people.”

Software company Adobe is buying online design company Figma in an approximately $20 billion cash-and-stock deal.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: Figma, founded in 2012, allows those who design interactive mobile and web applications to collaborate through multi-player workflows, sophisticated design systems and a rich developer ecosystem. The companies said that Figma’s web-based, multi-player capabilities will accelerate the delivery of Adobe’s creative cloud technologies on the web. That will make the creative process more productive and accessible to more people.

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As ‘buy now, pay later’ plans grow, so do delinquencies

Thu, Sep 15, 2022 at 10:01 am

( ) -q-22- UNDATED (Correspondent Jeremy House) “pay off debts.”

A growing number of American shoppers have jumped at the chance to use “buy now, pay later” loans to pay for new sneakers, electronics, or luxury goods in installments.

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Out-cue: pay off debts]

TAG: Correspondent Jeremy House reporting. Some borrowers don’t budget properly, particularly if they are persuaded to take out multiple loans, while others may have been credit risks to begin with.

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VERBATIM: Companies such as Affirm, Afterpay, Klarna and PayPal have built popular financial products around these short-term loans, particularly for younger borrowers, who are fearful of never-ending credit card debt. But as the industry continues to rack up customers, delinquencies are climbing. Inflation is squeezing consumers, making it tougher to pay off debts.

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Retail sales up 0.3% in Aug. from July amid inflation

Thu, Sep 15, 2022 at 9:59 am

( ) -q-26- UNDATED (Correspondent Jeremy House) “sales fell 0.7-percent.”

Americans picked up their spending a bit in August from July even as surging inflation on household necessities like rent and food take a toll on household budgets.

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TAG: Correspondent Jeremy House reporting. Business at clothing stores rose 0.4% while sales at furniture stores fell 1.3%.

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VERBATIM: The Commerce Department says retail sales rose an unexpected 0.3% last month, following a 0.4% decline in July. Excluding business at gas stations, sales rose 0.8%. Sales at grocery stores rose 0.5%, helped by rising prices in food. Business at restaurants rose 1.1%, while online sales fell 0.7%.

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Biden: Tentative railway labor deal reached, averting strike

Thu, Sep 15, 2022 at 5:42 am

(   ) -q-25- UNDATED (Correspondent Jeremy House) “a strike deadline.”

President Biden says tentative railway labor agreement has been reached.

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Out-cue: a strike deadline]

TAG: Correspondent Jeremy House reporting.

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VERBATIM: The president’s statement averts a strike that could’ve caused major damage to the economy. Mr. Biden said the rail workers will get better pay, improved working conditions and “peace of mind around their health care costs: all hard-earned.” Members of one union had earlier rejected a tentative deal with the largest U.S. freight railroads, while two ratified agreements and three others remained at the bargaining table just days ahead of a strike deadline

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EU court largely upholds $4B Google Android antitrust fine

Wed, Sep 14, 2022 at 9:30 am

( ) -q-24- UNDATED (Correspondent Jeremy House) “4.3 billion euro penalty.”

One of the European Union’s highest courts has largely upheld a huge fine issued to Google by the bloc’s antitrust enforcers in 2018 over its Android mobile operating system.

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Out-cue: 4.3 billion euro penalty]

TAG: Correspondent Jeremy House reporting.

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VERBATIM: The European Court of Justice’s General Court has mostly confirmed a European Commission decision to slap Google with a fine of more than 4 billion euros for stifling competition through the dominance of Android. The court said it was appropriate to give Google a fine of more than 4.1 billion euros. That’s slightly lower than the original 4.3 billion euro penalty.

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Michael Ramirez
Mon, Sep 19, 2022

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