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Surge in interest rates and a cloudier economic picture to keep Federal Reserve on sidelines

Published Mon, 23 Dec 2024 20:04:50 GMT

WASHINGTON (AP) — The Federal Reserve is poised to leave its key interest rate unchanged Wednesday at a time when the Fed faces an economy that has proved resilient but is nevertheless under pressure from surging interest rates, overseas turmoil and anxious investors.U.S. economic growth surged in the July-September quarter on the back of robust consumer spending, and inflation showed signs last month of staying uncomfortably high. Chair Jerome Powell will want to make sure that the economy cools and that inflation resumes its descent before signaling any let-up in the Fed’s drive to slow inflation to its 2% target level. At the same time, turbulent financial markets have pushed up longer-term rates on U.S. Treasurys, driven stock prices lower and raised corporate borrowing costs. Powell and other Fed policymakers have said they think those trends may contribute to an economic slowdown — and, in process, ease inflation pressures — without the need for further rate hikes. Since...

Singapore defense minister calls on China to take the lead in reducing regional tensions

Published Mon, 23 Dec 2024 20:04:50 GMT

BEIJING (AP) — Singapore’s defense minister urged China as a dominant power in Asia to take the lead in reducing tensions in the region, warning that a military conflict like the one in Ukraine or the Israel-Hamas war would be devastating for the continent and its future. Speaking Tuesday on the third and final day of an annual defense conference held by China, Ng Eng Hen stressed the importance of military-to-military communication to manage crises, expressing hope that the United States and China would resume the use of their military hotline.Peace is precarious and never a given anywhere in the world, Ng said. “What has happened in Europe and the Middle East must never occur here. … We must do all we can to avoid it.”The Xiangshan Forum brought together defense officials from dozens of countries and organizations. China, which recently sacked its defense minister, was represented by Zhang Youxia, vice chairman of the Central Military Commission.Russian Defense Ministe...

A gunman holed up at a Japanese post office may be linked to an earlier shooting at a hospital

Published Mon, 23 Dec 2024 20:04:50 GMT

TOKYO (AP) — Japanese police on Tuesday surrounded a post office where a man with a gun was holed up, and said the case may be linked to an earlier apparent shooting at a nearby hospital in which two people were wounded. One post office employee is still believed to be inside the building.Hundreds of police were reportedly mobilized to surround the building housing the post office. Television footage showed police officers wearing bulletproof vests squatting behind the doors of a patrol vehicle parked outside. Television footage also showed an older man wearing a cap at the entrance. Earlier Tuesday, Saitama Prefectural Police said two men — a doctor in his 40s and a patient in his 60s — were wounded after blasts resembling gunfire were heard at a general hospital in the city of Toda, just north of Tokyo. Police did not give details of how exactly the two people were injured. The victims are both conscious and their wounds are not life-threatening, police said. Kyodo News agency sai...

Bud Light brewer is still struggling to sell the beer in North America over trans promotion backlash

Published Mon, 23 Dec 2024 20:04:50 GMT

Anheuser-Busch Inbev said Tuesday that revenue growth in most of its global regions was offset by a drop in North American sales, in a sign of continuing fallout from a promotion with a transgender influencer that cost it sales.The world’s largest brewer and parent company of Bud Light said adjusted earnings for the latest quarter rose 4.1% to $5.4 billion on revenues that climbed 5% to $15.6 billion. Revenue in the United States for the July-September period, however, tumbled 13.5%. AB InBev, based in Leuven, Belgium, noted that sales to retailers were down “primarily due to the volume decline of Bud Light.” Bud Light sales plunged amid a conservative backlash after the brand sent a commemorative can to transgender influencer Dylan Mulvaney in early April.The controversy toppled Bud Light from its position as America’s best-selling beer for more than two decades. In June, it dropped to second place in U.S. retail sales behind Modelo Especial. Modelo – which is own...

5 things to know this Halloween

Published Mon, 23 Dec 2024 20:04:50 GMT

ALBANY, N.Y. (NEWS10) -- Happy Halloween everyone! According to Meteorologist Jill Szwed, we're in for more treats than tricks today with some sun into the afternoon. Despite the sun, everyone may want to layer up come time for trick-or-treating as cloud coverage and cooler temperatures roll in. Get the latest news, weather, sports and entertainment delivered right to your inbox! Governor Kathy Hochul will address the public following antisemitic threats made against Cornell University's Jewish Community. Cornell's president says the threats were made online on a website unrelated to the school. Governor Hochul will also address recent incidents of hate seen across the state. Meanwhile, two people were arrested in connection to a death that happened at a supervised living facility in Gloversville in 2022. These stories, and more, are covered in your five things to know this Halloween. 1. Antisemitic threats made against Cornell University’s Jewish communityOn Sunday, Oct. 29, a s...

Ask Amy: An ex worries that she’s been “unfollowed”

Published Mon, 23 Dec 2024 20:04:50 GMT

Dear Amy: My ex-boyfriend, “Chet,” was my first boyfriend (and longest relationship so far). Chet recently “unfollowed” me on Instagram — my main social media tool.We had an amicable ending, and it’s been about three years since we broke up.I have been working as an exotic dancer, so I am wondering if that is the reason he decided to unfriend me?This hurt, because he was so special in my life, even if we were now just online friends.I recently found out that his brother has cancer, and it makes me sad.I want to reach out to his family, to see if they are OK.I haven’t spoken to them since our breakup, so I am not trying to get back into their lives, but I do want to see if they need anything, as they are very sweet people.How can I help?— Bittersweet BreakupDear Bittersweet: I don’t know why your ex unfollowed you on Instagram, but if you post photos of yourself dancing, he might not have wanted to see them.He might also be in a new relationship with someone w...

Better consumer protection: New EU rules for defective products 

Published Mon, 23 Dec 2024 20:04:50 GMT

The EU wants to update the existing rules for defective products to better protect consumers and keep up with the development of new technologies, Economy.The existing Product Liability Directive was adopted almost 40 years ago. In September 2022, the European Commission published a proposal to adapt the guidelines to address the technological advantages newer products may have.The aim of the revised directive is to set uniform rules for Eu countries, ensure proper functioning of the digital and circular economy and help victims of defective products get fairer compensation.Scope of the revised liability rulesTo better reflect the changes in the digital and green world, the existing definition of a product needs to be expanded to include software updates, artificial intelligence or digital services, for example robots, drones or smart-home systems.At the same time, the revised rules exclude open-source or free software from the scope as such software relies on improvements from user...

Leadership Continuity in the DRC is in the EU’s Best Interests

Published Mon, 23 Dec 2024 20:04:50 GMT

Brussels has every reason to believe that the reelection of incumbent President Felix Tshisekedi, shown to be leading in recent polls, would serve its foreign policy and economic interests – writes Nathalie Beasnael.Despite current instability in the Middle East and limited to capacity for additional strategic focal points, the upcoming presidential elections in the Democratic Republic of the Congo (DRC), scheduled for 20th December 2023, should be of interest to all politicians, economists, business leaders and climate activists in the European Union. The DRC has been an invaluable partner of the EU. With the potential for the upcoming election to upend the balance of power in the country, what the EU requires now is stability in this country integral to its long-term economic interests.     The centrality of the DRC to EU economic interests can be seen most clearly in the import of raw materials, primarily copper and cobalt ore. Copper is one of the most w...

Top 7 Tailored Tours in Portugal: Capturing the Essence of Sun, Sea, and Fado

Published Mon, 23 Dec 2024 20:04:50 GMT

Portugal, with its rich tapestry of landscapes, from rugged coastlines to verdant valleys and bustling urban centers, is a traveler’s dream. Yet, beyond the renowned landmarks and popular destinations, lies a realm of curated experiences that delve deeper into the country's soul, which some of the best Portugal vacation packages are made of. They beckon the discerning traveler with tales of old, whispers of the sea, and the melancholic strains of Fado. These tailored tours are not just journeys across land but deep dives into culture, history, and emotion. Here, we unfurl the map to Portugal’s heart through seven meticulously crafted tours that promise more than sights – they pledge experiences.1. Douro Valley Wine and Heritage Tour:Nestled in Northern Portugal, the Douro Valley stretches with terraced vineyards that stand testament to centuries of wine-making traditions. A UNESCO World Heritage site, this region is the birthplace of the famed Port wine. A specialized tour here is a...

Granderson: GOP hate for LGBTQ+ people fueled Mike Johnson’s rise

Published Mon, 23 Dec 2024 20:04:50 GMT

The older I get, the more reminders I see that Maya Angelou was right: “When someone shows you who they are, believe them the first time.”Take the new House speaker, Mike Johnson, for instance.He’s been showing who he is since 1998, when he graduated from law school and started going after the LGBTQ+ community every chance he could. And I’m not just talking about trying to stop same-sex marriage, because let’s face it, many progressives were against it back then as well. But Johnson was extreme by comparison — advocating for laws that banned two adults from having consensual sex in their own home.So, to anyone who considers themselves an ally of the LGBTQ+ community, know this: Same-sex marriage and other protections are not safe.Johnson, R-La., has made attacking the queer community a huge part of his life’s work. We don’t yet know his style as a leader in the House, but we know exactly where he intends to go.And judging from how the speake...