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Stock market today: Wall Street joins worldwide slump

Published Sat, 22 Feb 2025 10:58:22 GMT

NEW YORK (AP) — Stocks are slipping on Wall Street as a frenzy around artificial intelligence runs out of steam and worries rise about the strength of the global economy. The S&P 500 was 0.3% lower in early trading Wednesday. The Dow and the Nasdaq composite had similar declines. Markets in Asia fell even more following discouraging data on manufacturing from China. The world’s second-largest economy has not been rebounding as strongly as many investors had hoped. Wall Street has been able to weather such concerns recently, largely because of big gains for big tech companies and others getting swept up in the buzz around AI.THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.Wall Street dipped early Wednesday along with global stock markets ahead of a vote by the U.S. Congress to avert a government debt default, while a downturn in Chinese factory activity deepened, another indication that the global economy is slowing. Futures for the benchmark S&P 500 fell 0.4...

Ex-UN head Ban calls for more diplomatic pressure on Myanmar’s military leaders

Published Sat, 22 Feb 2025 10:58:22 GMT

SEOUL, South Korea (AP) — Former U.N. Secretary-General Ban Ki-moon said Wednesday that he was communicating with authorities in military-run Myanmar as well as members of the armed resistance following a surprise visit to the country last month, and called for more diplomatic pressure on the ruling generals to end the violence. Ban did not specify the nature of those communications and declined to disclose the details of his conversations with military leaders during their April meetings. He was speaking at a Seoul news conference along with other members of The Elders, a group of senior statesmen engaging in peacemaking and human rights initiatives around the world.“I am in close contact with all those people to do as much as we can do to help them democratize Myanmar,” Ban said.He said he was still communicating with Myanmar authorities, the president of Indonesia — who holds the rotating chair of the 10-member Association of Southeast Asian Nations — and Myanmar’s National...

Unprecedented string of Nova Scotia wildfires still burning after four days

Published Sat, 22 Feb 2025 10:58:22 GMT

HALIFAX — As an unprecedented string of wildfires in Nova Scotia continued to burn out of control for a fourth day, fire officials were hoping for a break in the dry, windy weather.But that probably won’t happen until Friday night at the earliest, according to the latest forecast.And while municipal officials had talks Tuesday about allowing some of the 16,000 people evacuated from their Halifax-area residences to return home, deputy fire Chief David Meldrum made it clear today that wasn’t about to happen.He says the fire northwest of the port city’s downtown could flare up again because of the weather.Wind gusts today from the southwest were expected to reach 25 kilometres per hour, and the temperature was forecast to rise to about 25 C, with the humidity remaining very low at around 20 per cent.Meldrum says that under those conditions, the fire could quickly grow and spread, which is why the 100-square-kilometre evacuation zone will remain in place.The deputy chief say...

CAE reports fourth-quarter profit and revenue up from year ago

Published Sat, 22 Feb 2025 10:58:22 GMT

MONTREAL — CAE Inc. reported its fourth-quarter profit rose compared with a year ago as its revenue climbed more than 30 per cent.The flight simulator company says it earned net income attributable to equity holders of $98.4 million or 31 cents per diluted share for the quarter that ended March 31, up from $55.1 million or 17 cents per diluted share a year earlier.Revenue in the quarter totalled $1.26 billion, up from $955.0 million in the same quarter last year.The increase came as CAE says its civil revenue totalled $661.4 million in the quarter, up from $432.7 million a year earlier, while its defence and security revenue amounted to $536.0 million, up from $469.5 million. Health care revenue totalled $59.1 million, up from $52.8 million a year earlier.On an adjusted basis, CAE says it earned 35 cents per share, up from an adjusted profit of 17 cents per share a year earlier.Analysts on average had expected an adjusted profit of 34 cents per share, according to estimates compiled...

Jaguar recalls I-Pace electric vehicles due to fire risk in batteries made by LG Energy Solution

Published Sat, 22 Feb 2025 10:58:22 GMT

DETROIT (AP) — Jaguar is recalling more than 6,000 I-Pace electric SUVs in the U.S. due to the risk of the high-voltage battery overheating and catching fire. The recall is the latest in a series of electric vehicle battery recalls because of the potential for fires. Documents posted Wednesday by the U.S. National Highway Traffic Safety Administration say the recall covers all of the SUVs from the 2019 through 2024 model years.The documents say the vehicle batteries were made by LG Energy Solution, which is under investigation by the NHTSA after five automakers issued recalls due to possible defects that could cause fires or stalling.The NHTSA opened the probe in April of 2022 covering more than 138,000 vehicles with the South Korean company’s lithium-ion batteries. General Motors, Mercedes-Benz, Hyundai, Stellantis and Volkswagen have issued recalls since February of 2020, most due to internal battery failures that can increase the risk of fires.The agency says it will write ...

German inflation slows to 6.1% in May, though food prices are still surging

Published Sat, 22 Feb 2025 10:58:22 GMT

BERLIN (AP) — German inflation eased to 6.1% in May following several months of declines, even as Europe’s biggest economy registered another painful increase in food prices of nearly 15%.Preliminary figures show that the annual inflation rate was lower than the 7.2% registered in April, the Federal Statistical Office said Wednesday. In February, it stood at 8.7%.Increases in energy prices, which drove inflation immediately after Russia’s invasion of Ukraine last year, were much lower in May at 2.6% — in part because of the sharp rises a year earlier and government efforts to offset their impact. Those measures include the introduction of a ticket that allows people to use local and regional public transport across Germany for 49 euros ($52.50) per month. That ticket has been available since May 1, and about 10 million people have bought it so far, according to the VDV group, an association of transport companies.Food prices now are driving inflation, although the annual...

ERCOT introducing campaign to communicate grid conditions

Published Sat, 22 Feb 2025 10:58:22 GMT

AUSTIN (KXAN) -- On Wednesday, the Electric Reliability Council of Texas will introduce a new campaign it's launching to communicate grid conditions. ERCOT President and CEO Pablo Vegas will hold a virtual press conference at 10:30 a.m. to present the new campaign ERCOT is launching to "deliver clear and reliable messaging to all Texans around grid operations and conditions."There is already a way to check operating reserves and grid conditions online. How you can check Texas power grid conditions In February, ERCOT unveiled a 6-day forecast tool on the Supply and Demand dashboard that provides Texans with an extended view of upcoming grid conditions. This is a developing story. Check back for updates.

Rockdale shooting, standoff ends with arrest

Published Sat, 22 Feb 2025 10:58:22 GMT

ROCKDALE, Texas (FOX 44) - UPDATE: The suspect in the Rockdale standoff is now in custody.According to Milam County Sheriff Mike Clore, law enforcement will remain on scene for a short period. Travelers should still find alternate routes.This comes after multiple injuries were reported in a shooting which turned into a standoff. Rockdale Police and other law enforcement responded to the shooting on Tuesday night - which turned into a standoff lasting into the early morning hours on Wednesday. Second arrest made in Rockdale apartment complex murder According to Clore - residents were told to avoid the area of Murray Avenue, between Bowser Street and Wilcox, and College Street, from Murray Avenue to Belton. Officers from a number of different area law enforcement agencies responded to the scene. A police unit was seen at Cameron Street and Wilcox just before 5 a.m. Wednesday.This is a developing story. FOX 44 News will have more information as it becomes available.

270+ payroll errors for Hays County employees; budget office to take over payroll duties from treasurer

Published Sat, 22 Feb 2025 10:58:22 GMT

HAYS COUNTY, Texas (KXAN) — There have been hundreds of payroll errors for Hays County employees in recent months. "We have identified 273 payroll corrections that are still pending after the May 15, 2023 payroll," said Hays County Auditor Marisol Villarreal-Alonzo. KXAN is waiting to hear back from the county if the 273 corrections have been made. Employees' frustrationSome employees brought their complaints to the attention of the Hays County Commissioners Court during the May 23 meeting. "The deposits to my retirement fund had not been made in over a month despite my contribution still being deducted," said one county employee. They said it feels like their money has gone missing. "My husband, who also works for Hays County, received a check that was noticeably less than usual. His overtime pay was excluded but was told a paper check would be cut the next day," said another county employee. It's an issue that Hays County Commissioner Walt Smith said concerns him. "We've got folks...

Salem man sentenced for stealing credit cards

Published Sat, 22 Feb 2025 10:58:22 GMT

SALEM, N.Y. (NEWS10) -- A Salem man was sentenced to one and a half to three years in state prison on Friday, May 19, for breaking into a car and stealing several credit cards. Jerry Niles was arrested in August 2017. Get the latest, news, weather, sports and community events delivered right to your inbox! Law enforcement says Niles broke into a car and stole several credit cards as well as personal belongings from it. Niles was allegedly already wanted by the Cambridge-Greenwich Police for a separate incident.