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AM Business Notebook

>>Weekly Jobless Report Shows Rise In Claims (Washington, DC) -- The number of Americans filing for unemployment is on the rise. The Department of Labor released it's weekly report this morning and said unemployment insurance claims in the U.S. for the week ending September 9th were at 220-thousand. That's a rise of about three-thousand from the previous week, after four straight weeks of decline.


>>Senators Push Cannabis Banking Bill

(Washington, DC) -- A bipartisan coalition of senators is pushing to get cannabis banking bill in front of lawmakers. Some senators supporting the Secure and Fair Enforcement Banking Act, known as SAFE, have expressed the hope that the bill could advance out of committee in the coming weeks. The bill could give federally regulated banks and credit unions legal cover to take state-licensed cannabis dispensaries and growers as customers. Senate Democrats say there's excitement after the Department of Health and Human Services recommended that marijuana be classified as a Schedule Three drug. It's currently classified as Schedule One, the same as heroin.


>>UAW Preparing For Strike

(Detroit, MI) -- The United Auto Workers Union is prepared for a "likely" strike against Detroit's Big Three automakers. On Wednesday, union president Shawn Fain ruled out any extension of the existing contracts with GM, Ford and Stellantis after they expire Thursday night. He noted that "September 14th is a deadline, not a reference point." Members are at odds with the companies over wage increases, pensions and job protections. Fain said initial strike locations would be "limited and targeted" if no deal is reached.


>>Ford CEO Rebuffs UAW Leader's Criticism As Strike Deadline Looms

(Detroit, MI) -- Ford CEO Jim Farley is batting back criticism by the head of the United Auto Workers union that Ford isn't taking bargaining seriously ahead of a Thursday night strike deadline. UAW CEO Shawn Fain made that charge last week. Farley said on Wednesday that Ford hasn't received a "genuine counteroffer" on Ford's latest proposal. He also called out Fain for not attending a meeting Tuesday with the Ford CEO and company Chairman Bill Ford. The UAW is negotiating simultaneously with General Motors, Stellantis, and Ford. The union has authorized a strike to begin at 11:59 p.m. Thursday if there's no agreement on a new contract.


>>Political Advertisements Projected To Reach A Record Ten-Point-Two Billion In 2024 Cycle

(New York, NY) -- Spending on political advertising is estimated to reach a record ten-point-two-billion in the 2024 cycle. That's according to new projections from Ad-Impact. Local television stations are projected to rake in half that amount, five-point-one billion. Cable television trails broadcast with one-point-nine billion. Connected TV, which includes streaming services, is likely to pull in one-point-three billion. Digital ads - like Google and Facebook - could reach one-point-two billion; radio accounts for 400-million. Political ad spending in this election cycle has already reached 652-million, 75-percent more than at the same point in the last presidential campaign.


>>Taiwan Slams Musk: "Not For Sale," Nor Part Of China

(Taipei) -- Taiwan is tearing into Elon Musk after the billionaire said the democratically governed island might be, in Beijing's view "analogous to Hawaii or something like that, like an integral part of China that is arbitrarily not part of China." Taiwan's Minister of Foreign Affairs said late Wednesday on X, the social media platform formerly known as Twitter, "Listen up, Taiwan is not part of the PRC and certainly not for sale!" PRC is short for People's Republic of China, the communist nation ruled out of Beijing.


>>Survey: World-Largest Lithium Deposit May Sit On Native Land In Nevada

(McDermitt, NV) -- A Nevada mining company has put out a report that could have industry-shaping implications for the future of electric vehicles. Surveyors have been interested in a spot near native lands on the Nevada-Oregon border for years, and recent data suggests it could conceal the world's largest deposit of lithium, a crucial component in E-V batteries. The numbers show some 20- to 40-million metric tons of the metal ore was deposited in the McDermitt Caldera, at the site of an ancient supervolcano. That's potentially enough to meet global demand for decades. While the mine could all but solve the U-S' lithium supply problem, many argue the environmental and ecological impact is not worth the risk. The Fort McDermitt Paiute-Shoshone has opposed the project for years because it's planned on the site of an 1865 massacre at the hands of U-S soldiers. Tribal leaders liken it to opening up a lithium mine at Pearl Harbor or Arlington National Cemetery.

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