FTC revises antitrust complaint against Facebook; Toyota scales back production; States can use rescue funds for unemployment

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Weekly claims fell to 348,000; Senators call on Taiwan to do more over semiconductor chip shortage; Macy’s, Kohl’s beat earnings forecasts; GM workers in Mexico oust union

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The auto production cuts were tied to the global chip shortage; U.S. regulators proposed backdating bigger fuel-efficiency fines; federal judge vacates Alaska oil drilling permits

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Fed signals taper of bond-buying; California water agency issues supply alert; Target store sales rise, but online sales fall - August 18, 2021

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The rate of home construction declined 7%; mortgage applications fell 3.9% last week; T-Mobile says hackers stole data of more than 40 million people

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TSA mask requirement extended until mid-January; Afghanistan did not receive dollars shipment, Central Bank head says; federal judge fines Fiat-Chrysler $30 million over union payoff scandal

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Industrial production increased last month; Fed Chair not sure how delta wave will affect economy; Homebuilder sentiment drops to 13-month low - August 17, 2021

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MIDDAY

HED

Americans cut back on retail spending in July

DEK

July’s retail sales fell 1.1%; Walmart expects stronger annual same-store sales than previously forecast; Home Depot misses sales forecasts; T-Mobile confirms hack, but not alleged size and scope

GONG:

:01

OPEN

Americans cut back on retail spending.

SIC

STORY 1 - :20

The Commerce Department says July’s retail sales fell about a percentage point from the month prior. That’s more than forecast. Spending fell at both brick and mortar and ONLINE stores. Meanwhile, the pace of sales growth at Restaurants and bars - slowed.

The spread of the COVID delta variant may have played a role… there’s also scarcity of some products because of semiconductor chip shortages.

STORY 2 - :15

Still, the nation’s largest retailer remains optimistic. Walmart today reported better than-expected earnings of more than 4 billion dollars in the quarter ending in July. The company says it now expects bigger ANNUAL sales at its stores than previously forecast.

STORY 3 - :10

Meanwhile, Home Depot missed quarterly sales forecasts… with fewer home improvement projects as Americans venture back out of their homes.

[hit :50 - :52]

STORY 4 - :08 CUT FOR PUBRADIO

And, T-Mobile confirms it was the target of a data hack, as alleged in an online forum… but says it doesn’t yet know the size and scope of the breach.

POST-MUSIC

CLOSE

SOC

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Biden authorizes money for “unexpected urgent refugee and migration needs” in Afghanistan; Hachette to buy Workman Publishing for $240 million; Spirit says canceled flights cost $50 million

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China economic data show slowing growth;Tesla self-driving auto pilot tech is under investigation; Pfizer BioNTech seek FDA approval for booster - August 16, 2021

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