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Major U.S. Banks Predict Recession Next Year; Officer Fired After Shooting Teenager Who was Eating at a McDonald's Parking Lot; Human Rights Group in Iran Says Live Fire Use to Break Up Protests; L.A. City Council President Resigns Over Racist Remarks; North Korea Says Recent Tests Show Nuclear Readiness. Aired 4:30-5a ET
Aired October 11, 2022 - 04:30 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
[04:30:00]
MAX FOSTER, CNN ANCHOR: Welcome back to CNN NEWSROOM. I'm Max Foster. If you're just joining us, let me bring you up to date with our top story this hour.
Ukraine's president will virtually attend an emergency meeting with G7 leaders in the coming hours to discuss Russia's latest strikes on civilian infrastructure across multiple cities. This comes as Russia has launched another round of missile strikes today including Zaporizhzhia where a Ukrainian official says at least one person was killed. Ukraine reports at least 19 people were killed and more than 100 others injured in Monday's attacks.
Wall Street opens in just a few hours and here's how futures are looking. Negative down around half a percent across those main indices. Stocks plunged on Monday after the CEO of JPMorgan Chase warned the U.S. is likely into a recession in the coming months. That sent the Dow falling 200 points before rebounding. The Nasdaq ended the day down 8 percent. The S&P also closed with a loss.
Meanwhile, gas prices are going up. The U.S. average is expected to rise to $4 a gallon for the first time in two months but prices may not stay there for long. CNN's Alison Kosik has details on that and those fears of a looming recession.
(BEGIN VIDEOTAPE)
ALISON KOSIK, CNN BUSINESS CORRESPONDENT: Hi, Max. Some down beat predictions coming from some of the biggest banks in the United States. JPMorgan CEO Jamie Dimon said though the U.S. economy is doing well, he predicts the U.S. will be in a recession in six to nine months from now. And economists at Bank of America warned in a note that the U.S. labor market will start to show signs of cracking by the end of this year as they believe the pace of job growth will slow. The economist says the Federal Reserve's aggressive moves of hiking interest rates to fight inflation will cause the U.S. economy to start losing tens of thousands of jobs a month beginning early next year to the tune of 175,000 job losses a month.
B of A is also making his own prediction about a recession saying it expects that a recession will begin in the first half of next year. They say it will be a mild one.
Meantime, gas prices are on the rise in the U.S. and could soon hit the national average of $4 a gallon for the first time in two months. Part of that spike followed last week's decision by OPEC+ to cut production by 2 million barrels a day in an effort to lift prices. The good news is prices may not stay high for long. Prices are already falling in parts of the country where they've been the highest.
Consumers may be able to save some money on their holiday shopping if they start shopping earlier. Retailers including Walmart, Target and Amazon say they're offering deeper deals earlier. Retailers are trying to get consumers in the mood to spend despite higher prices for just about everything. The National Retail Federation says early promotional deals allows shoppers to stretch their budgets over a longer period of time. The holiday shopping season is the most important stretch of the year for retailers with some stores making up to half of their yearly sales during the holiday period -- Max.
(END VIDEOTAPE)
FOSTER: Thank you to Alison.
The U.S. could still be heading towards a strike of railway workers after one of the industry's largest unions rejected a tentative deal with freight carriers. Unions for engineers, conductors and maintenance workers have been fighting for shorter work weeks among other things as most have been on call seven days a week currently. The Biden administration is hoping for a swift agreement so there's not any further disruption to the already strained supply chains. But experts say the first no vote is a likely sign the current deal won't go through at all.
A week after a Texas teenager was shot by an officer in a McDonald's parking lot, the boy's family says the 17-year-old remains in critical condition. The officer involved is being investigated and could face charges for the shooting. CNN's Ed Lavandera has the details and first a warning, some of the images you're about to see can be disturbing.
(BEGIN VIDEOTAPE)
UNIDENTIFIED MALE: Shots fired, Shots fired, Shots fired.
ED LAVANDERA, CNN SENIOR NATIONAL CORRESPONDENT (voice-over): The barrage of gunfire captured by the body camera of San Antonio Police Officer James Brennand ended with a 17-year-old in critical condition, and the rookie police officer now facing possible criminal charges. It happened just over a week ago while Officer Brennand was responding to a disturbance call at this San Antonio McDonald's. He called in for backup for something else.
JAMES BRENNAND, SAN ANTONIO POLICE OFFICER: Hey, can you start me one more? I got a vehicle over here that fled from me the other day. He's in the parking lot.
[04:05:00]
LAVANDERA (voice-over): San Antonio police say the officer noticed a car that he believed evaded him while on patrol the night before.
BRENNAND: Get out of the car.
UNIDENTIFIED MALE: Why?
UNIDENTIFIED MALE: Shots fired, Shots fired, Shots fired.
LAVANDERA (voice-over): A spokesman for Cantus family says the teenage is struggling and in critical condition. He's been sedated while kept on life support. Cantu's family says multiple bullets struck major organs.
UNIDENTIFIED MALE: James Brennand.
LAVANDERA (voice-over): Officer James Brennand graduated from the San Antonio Police Academy earlier this year. He was a new cop patrolling the streets of San Antonio. He had only been on the job seven months. CNN has made multiple attempts to reach lawyers representing Officer Brennand but have not heard back.
UNIDENTIFIED MALE: Nothing that officer did that night or in accordance with our training or our policies.
LAVANDERA: Initially 17-year-old eric Cantu was charged with two criminal accounts, one for evading detention and the other for assaulting a police officer. But after the body camera footage was revealed, those charges have since been dropped and the district attorney in San Antonio says they will present evidence to a grand jury and it's now the police officer who could be facing criminal charges.
Ed Lavandera, CNN, Dallas.
(END VIDEOTAPE)
FOSTER: Do be sure to stay with CNN. San Antonio's police chief joins "NEW DAY" to talk about this tragic shooting.
Now to a major milestone for an 8-year-old boy paralyzed in the July shooting in Highland Park, Illinois. Cooper Roberts has now returned to school in a limited capacity joining his twin brother in the third grade this week. His family says Cooper still needs therapy which will mean a gradual return to school but cheered the progress he's made since suffering life-threatening injuries.
Now still to come, anti-government protests in Iran show no signs of stopping. We'll have the latest on the uprising as well as the escalating response from authorities.
Plus, the Los Angeles city council president steps down after an outcry over her racist comments in a leaked audio. The details next.
[04:10:00]
(COMMERCIAL BREAK) FOSTER: The human rights group in Iran says security forces used live
fire to break up anti-government protests over the weekend. It happened in the Kurdish city of Sanandaj as violent clashes erupted between police and protesters. Their part of an uproar against Iran, all across Iran were people have been demanding justice for a young woman who died after being detained by the country's morality police.
CNN's Natalie Bashir joins me now. We've talked about this every day but it's escalating every day as well. That's the point, right?
NADA BASHIR, CNN REPORTER: Yes, and also the protests are gaining momentum every day. We are still seeing people taking to the streets protesting against their regime. All of this of course sparked by the death of 22-year-old Mahsa Amini. And that defiant show of protests from women and young girls up and down the country against the regime's severe restrictions on women's rights, including of course the wearing of the mandatory hijab or headscarf.
But this is really swelled and gain momentum. This is about other grievances that the Iranian people have against the regime. But in response to that, of course, we are seeing that violent and deadly crackdown by the security forces and in the Kurdish region in the northwest of Iran in Sanandaj in particular, we have seen increasing violence.
Human rights groups detailing the use of excessive and lethal force over the weekend. Since Saturday one human rights group which focuses on rights abuses in the Kurdish region has detailed at least five people being killed after the security forces opened fire on the protesters, including a 7-year-old child. And children really have been a key part of this protest. We've seen young girls playing a leading role in these demonstrations.
But violence is escalating. The use of tear gas and metal pellets, protesters have been beaten by the security forces. And now of course, the security forces opening fire shooting directly at demonstrators in an attempt to quell these demonstrations.
But they've also been trying to restrict internet access as well and mobile or cell phone device usage as well across the country in an attempt to stop the spread of information -- and that has been pretty critical. But we are still seeing the videos coming out, social media videos circulating around the protests taking place. We saw one protest taking place around petroleum and gas plants, a significant development there, the pillar at least of Iran's economy.
FOSTER: Yes, OK, and Nada thank you.
Now the Los Angeles city council's president has resigned after her racist remarks about a colleague and his black son were revealed publicly. However, Nury Martinez remains a member of the council. CNN's Nick Watt people out of their minds has the details.
(BEGIN VIDEOTAPE)
NICK WATT, CNN NATIONAL CORRESPONDENT (voice-over): Mike Bonin is an L.A. City Council member and father to a young black son. Last year they went to an MLK day parade. City Council President Nury Martinez had some issues.
NURY MARTINEZ, LOS ANGELES CITY COUNCIL PRESIDENT: It's like black and brown on this float. And there this white guy with his little black kid who's misbehaved. The kid's bouncing off the effing walls on the float, practically tipping it over. There's nothing you can do to control him, parece changuito.
WATT (voice-over): Translation, little monkey.
MARTINEZ: They're raising him like a little white kid which I was like, this kid needs a beat down like let me give me take him around the corner and then I'll bring him back.
WATT (voice-over): Bonin tweeted that Martinez attacked our son with horrific racist slurs and talked about her desire to physically harm him. It's vile, abhorrent and utterly disgraceful.
There were protests at her house. She resigned as council president. She issued this apology.
[04:15:00]
In a moment of intense frustration and anger, I let the situation get the best of me and I hold myself accountable for these comments. For that, I am sorry.
Recorded nearly a year ago, the audio was posted anonymously on Reddit, first reported by "The Los Angeles Times". Those present were reports to paper all Democrats, all Hispanics.
Among them, labor leader Ron Herrera. He's tweeted: There is no justification and no excuse for the vile remarks made in that room. Period. And I didn't step up to stop them.
He did not. And when Martinez described Bonin's son as an accessory, according to the paper, he joined in
MARTINEZ: It's like an accessory. When we do the MLK Parade --
RON HERRERA, LABOR LEADER: We use to have those statues in the plantations, didn't they?
KEVIN DE LEON, COUNCIL MEMBER: And when Nury brings her Goyard bag or the Louis Vuitton bag el trae su accessory.
WATT (voice-over): That last voice, Council Member Kevin de Leon. He's got big ambitions. He ran for mayor this year and the U.S. Senate seat in '18.
Of I regret appearing to condone and even contribute to certain insensitive comments, he wrote. I fell short of the expectations we set for our leaders.
WATT: This audio tells us a couple of things. One, it tells us the kind of language that some politicians are very happy to use when they don't think the world is listening. And it also speaks to the divisions amongst the left of center leadership here in Los Angeles.
Now Nury Martinez is the daughter of Mexican immigrants but she says this about Mexican immigrants is the daughter of Mexican immigrants but she says this about Mexican immigrants from the state of Oaxaca. She says they are, quote, short little dark people. And of the district attorney here in L.A. who is Cuban American, she says, "f" that guy. He's with the blacks.
Nic Watt, CNN, Los Angeles.
(END VIDEOTAPE)
FOSTER: Now you're about to see an amazing but scary video but it does have a happy ending. Three men were in the water battling sharks when the U.S. Coast Guard arrived off the coast of Louisiana. The men had gone out on a fishing trip on Saturday. When they didn't come back one of their relatives called authorities. They were found the next day wearing life jackets but fighting off sharks. All three men were taken to the hospital where they are recovering.
Still ahead, North Korea's propaganda machine is added again. This time making threats of tactical nuclear strikes on targets in South Korea including tens of thousands of U.S. troops based in that country.
[04:20:00]
(COMMERCIAL BREAK)
FOSTER: South Korea's president has promised a robust response to North Korea amid his. The warning comes after North Korea claimed the recent missile launches for a practice for, quote, tactical nuclear strikes on South Korea amid its latest threat, saying Pyongyang has nothing to gain from nuclear weapons. The warning comes after North Korea claims his recent missile launches and other military drills were practice for, quote, tactical nuclear strikes on South Korea. CNN's Brian Todd reports.
(BEGIN VIDEOTAPE)
BRIAN TODD, CNN CORRESPONDENT (voice-over): North Korea's volatile dictator ramping up his aggressive behavior recently conducting at least seven missile tests in the past two weeks, including one which sent a missile directly over Japan. North Korean state media says Kim Jong-un, quote, personally guided this recent wave of tests. Why now?
BRUCE KLINGNER, FORMER CIA ANALYST ON NORTH KOREA: What it could be is to try to drive the U.S. back to the negotiating table in a more supplicant way. Maybe now, they're suggesting that even though they say they don't want any kind of dialogue, they'd be willing to accept offers from the United States.
TODD (voice-over): From the U.S., South Korea, and Japan, an aggressive response of their own to Kim's missile tests. The allies conducting joint military exercises, missile test launches, and in a move South Korean authorities called very unusual, the U.S. redeploying an aircraft carrier to the waters right off the Korean Peninsula.
SUE TERRY, ASIA PROGRAM DIRECTOR, THE WOODROW WILSON CENTER: They did what they had to do, but they are not enough to deter North Korea. I think the latest missile test is just a precursor to what's -- what will come and there'll be a seventh nuclear test, possibly a test of a tactical nuclear weapon.
TODD (voice-over): A seventh North Korean underground nuclear bomb test, analysts say is likely to come in the near future. Kim's regime hasn't conducted one in five years but he now seems to have a new swagger. For at least one recent launch, he appeared in a white tunic with black slacks. At one point, he donned what looked like a khaki safari hat as he peered through mounted binoculars. At another event, the supreme leader wore a brown field jacket as he tried to cover his ears.
KLINGNER: He's showing that he's bold and he's proud and he's involved in this and that the tactical nuclear weapons program is his.
TODD (voice-over): Following a thaw in relations while Kim was courting former President Trump.
DONALD TRUMP, FORMER PRESIDENT OF THE UNITED STATES: We fell in love.
TODD (voice-over): And following a lull in testing during the COVID pandemic. Kim is back to the brazen hawkish behavior that made him a threat in the first place, but with some ominous recent twists. Earlier this year, Kim and his increasingly powerful younger sister Kim Yo-jong threatened to annihilate South Korea with preemptive nuclear strikes if they felt threatened. Kim Yo-jong calling South Korea's Defense Minister scum as she issued one threat last spring.
TERRY: Taking a page out of Putin's playbook. And North Korea has literally just came out with nuclear doctrine, where they have lowered the threshold for preemptive nuclear weapons use.
TODD: Senior administration officials recently told CNN a lack of hard intelligence inside North Korea is hampering the U.S.'s ability to detect Kim Jong-un's military intentions. Analysts say the U.S. has often had decent intelligence when it came to detecting major military moves by North Korea but that determining the regimes strategies, the calculus of Kim and his father and grandfather has always been difficult for U.S. intelligence.
Brian Todd, CNN, Washington.
(END VIDEOTAPE)
FOSTER: Kansas City Chiefs top are sports headlines today with a 32 to 29 win over the Las Vegas Raiders. Chiefs quarterback Patrick Mahomes connected with tight end Travis Kelce for the four touchdown passes. That's the most ever in a Monday night football game.
[04:25:00]
The Chiefs had to battle back from a 17-0 defeat in the first half. The win puts them at 4-1 atop the AFC West. The Raiders fall to 1 and 4 on the season.
And men's golf, Dustin Johnson has clinched the inaugural LIV Golf individual championship and the $18 million prize. You heard that right. The season isn't over yet. But the two-time major winner already has enough points to ensure his victory. The 38-year-old thanked his fans and says he looking forward to contributing to LIV Golf's continued growth. The Saudi backed LIV series has upended the golf world fueling a legal battle with the PGA Tour. The final individual tournament is set for this weekend in Jedda.
Now to a story that's out of this world. New research shows that the Milky Way galaxy has a graveyard of dead stars that stretches three times the height of the galaxy. And our galaxy which formed about 13 billion years ago has been home to billions of stars many of which have collapsed into dense remnants over time. Astronomers discovered this whilst creating the first ever digital map of the so-called galactic underworld.
Over the weekend movie fans in New York were treated to a blockbuster reunion years in the making.
(BEGIN VIDEO CLIP)
CHRISTOPHER LLOYD, ACTOR: You've got to come back to me.
MICHAEL J. FOX, actor: Where?
LLOYD: Back to the future.
FOX: Going back.
LLOYD: We're back.
(END VIDEO CLIP)
FOSTER: That is Michael J. Fox and Christopher Lloyd in their iconic roles in the "Back to the Future" franchise. It was like no time had passed at all as the two reunited at New York Comic-Con to talk about the legacy of those films. It comes as Fox is set to be honored by the Academy of Motion Picture Arts and Sciences for his work to help cure Parkinson disease.
Thanks for joining me here on CNN NEWSROOM. I'm Max Foster in London. "EARLY START" with Christine is next.
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