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Stock market today: Global stocks lower after US inflation edges up, fueling unease about economy

Published Sat, 22 Feb 2025 10:28:38 GMT

BEIJING (AP) — Global stock markets declined Friday after U.S. inflation edged higher, fueling unease about the outlook for the biggest global economy.London, Shanghai, Paris and Hong Kong fell. Wall Street futures were mixed. Japanese markets were closed for a holiday. Oil prices edged lower.Wall Street’s benchmark S&P 500 index gained less than 0.1% on Thursday after government data showed consumer prices rose 3.2% in July. That was higher than the previous month but below forecasts following repeated rate hikes to cool business activity and prices.Traders hope the Federal Reserve will decide inflation that peaked above 9% last year is under control and no more interest rate hikes are needed.Investors are watching whether higher interest expenses “will cause distress or defaults,” said Stephen Innes of SPI Asset Management in a report.In early trading, the FTSE 100 in London lost 1% to 7,546.40. The CAC 40 in Paris fell 0.8% to 7,373.90 and the DAX in Frankfurt retreated...

Poland’s ruling party wants a referendum on the sell-off of state assets

Published Sat, 22 Feb 2025 10:28:38 GMT

WARSAW, Poland (AP) — Poland’s ruling party leader said Friday that Polish voters will be asked to decide whether they support the sell-off of state-owned enterprises in a referendum, saying it would be about “whether the wealth of generations will remain in Polish hands.”The conservative ruling party has for some time expressed a wish to hold a referendum on the highly emotional topic of migration alongside the fall’s parliamentary elections, which the president scheduled this week for Oct. 15.Law and Justice party leader Jaroslaw Kaczynski said Friday that the party now plans more than one referendum question.Kaczynski, who is also the deputy prime minister, made the announcement in a video posted to X, the platform formerly known as Twitter. He said the first referendum question would say: “Do you support the sell-off of state-owned enterprises?” The graphic showed the question as it would look on a ballot, with a red X appearing in the ”No” box.He then linked p...

Building engulfed in flames, upgraded to five-alarm fire after explosions in Etobicoke

Published Sat, 22 Feb 2025 10:28:38 GMT

Toronto Fire Services are dealing with a five-alarm fire due to explosions at an industrial building on Vulcan Street near Martin Grove Road and Belfield Road in Etobicoke on Friday morning.Initially a four-alarm fire, the fire reportedly started at the Brenntag Canada building at 35 Vulcan Street just after 1:00 a.m., and has been upgraded to a five-alarm fire.Emergency crews are still in defensive mode as the fire is out of control has spread to adjacent buildings.The fire is a hazardous materials incident and Toronto fire are dealing with all kinds of oils, fluids, solvents from the factory as well as monitoring the air quality due to the chemicals being burned.A number of explosions happened throughout the morning, including gas tanks from vehicles from the building and propane tanks.People living in the residential areas near the fire are encouraged to keep windows closed and shelter in place. Emergency services are working to determine whether or not any type of other evacuati...

Former South African President Zuma taken back to prison and released again within 2 hours

Published Sat, 22 Feb 2025 10:28:38 GMT

JOHANNESBURG (AP) — Former South African President Jacob Zuma was taken back to prison on Friday after his parole was ruled invalid, only to be released again within two hours under a new program to reduce overcrowding in jails.The move raised more questions over whether the 81-year-old is receiving preferential treatment to avoid serving out a 15-month sentence for contempt of court.The remissions program was authorized by President Cyril Ramaphosa and made public for the first time Friday. While it aims to release more than 9,400 inmates from jail and put them under correctional supervision at home, Zuma appeared to be the first to benefit from it.Zuma reported to the Estcourt Correctional Centre in the Kwa-Zulu Natal province at 6 a.m., ostensibly to serve the remaining 13 months of his sentence. But he was released some time after 7 a.m. when his remission was processed, said Makgothi Thobakgale, the acting national commissioner of the corrections department.Zuma later arrived b...

Thousands evacuated in Polish town after builder uncovers WWII bomb

Published Sat, 22 Feb 2025 10:28:38 GMT

WARSAW, Poland (AP) — Some 14,000 people were evacuated in the eastern Polish town of Lublin Friday after a construction worker uncovered a massive unexploded bomb. The police, Territorial Defense troops and city transport were helping in the evacuation, which must take place before military engineers can remove the bomb and take it away for neutralization, according to the town hall spokesperson, Katarzyna Duma. Roads in the area have been closed.Duma said the residents were being taken to safety in schools and other large buildings. They have been instructed to turn off gas, water and electricity in their homes, close the windows and doors and to take their IDs and necessary medication with them. Residents should be able to return home in the early afternoon. Builders uncovered the 250-kilogram (550-pound) bomb buried in the ground during works on a new residential area on Thursday. There was a Polish airplane factory and an airport there before World War II that could have been t...

Energy Department announces largest-ever investment in ‘carbon removal’

Published Sat, 22 Feb 2025 10:28:38 GMT

The Energy Department announced Friday it is awarding up to $1.2 billion to two projects to remove carbon dioxide from the air in what officials said was the largest investment in “engineered carbon removal” in history. The process, known as direct air capture, does not yet exist on a meaningful scale and could be a game changer if it did so economically.“If we deploy this at scale, this technology can help us make serious headway toward our net zero emissions goals while we are still focused on deploying more clean energy at the same time,” Energy Secretary Jennifer Granholm said in a press conference.Project Cypress will be built in Calcasieu Parish, Louisiana. South Texas DAC will is planned for Kleberg County, Texas. Each claims it will capture up to one million metric tons of carbon dioxide per year. A representative of the Texas project said it will scale up to remove 30 million metric tons per year once fully operational. No date was given.Officials said the projects will cre...

Maui residents had little warning before flames hit town. At least 55 people died

Published Sat, 22 Feb 2025 10:28:38 GMT

LAHAINA, Hawaii (NEXSTAR) — Maui residents who made desperate escapes from oncoming flames, some on foot, asked why Hawaii’s famous emergency warning system didn’t alert them as fires raced toward their homes.Hawaii emergency management records show no indication that warning sirens were triggered before a devastating wildfire killed at least 55 people and wiped out a historic town, officials confirmed Thursday. The Federal Emergency Management Agncy said they are bringing in cadaver dogs to supplement recovery efforts. However, it will take time for a final total of fatalities. Newest photos show devastation from Maui fire Hawaii boasts what the state describes as the largest integrated outdoor all-hazard public safety warning system in the world, with about 400 sirens positioned across the island chain to alert people to various natural disasters and other threats. But many of Lahaina’s survivors said in interviews at evacuation centers that they didn’t hear any sirens and ...

Critical fire conditions persist during record heat wave

Published Sat, 22 Feb 2025 10:28:38 GMT

AUSTIN (KXAN) -- Drought conditions are worsening across the area as Austin's longest heatwave on record shows little signs of abating. Thursday was Austin's 50th 100-degree day of the year so far -- the 8th-highest 100-degree day count on record.New drought data released Thursday morning showed worsening drought across much of the area.Worsening drought conditions BLOG: When will 100º days end in Austin? Excessive Heat Warnings in effect todayExcessive Heat Warnings and Fire Weather Warnings continue. Our local National Weather Service office has issued 15 Excessive Heat Warnings so far this year -- crushing the previous record of 3, set last year.We are seeing hints of at least a chance of rain beginning somewhere around Aug. 23rd, along with temperatures that may finally drop below 100°, but this is not yet a guarantee. Stay with KXAN and the First Warning Weather team for updates as the heat drags on. Austin Interactive Weather Stats (2023) KXAN Summer Fan Drive continuesSta...

NYS Equine Medical Director discusses euthanizations

Published Sat, 22 Feb 2025 10:28:38 GMT

SARATOGA, NY (NEWS10) -- Maple Leaf Mel, the undefeated filly, was one of two horses euthanized at the Saratoga Race Course this past weekend. There have now been 10 horse deaths at the Spa this season, and 15 each of the last two years. Get the latest news, weather, sports and entertainment delivered right to your inbox! NEWS10 spoke with NYRA and the state's top equine doctor to shed some light on why incidents like this happen, and how they try and prevent them. "First and foremost, the health and well being of the horses and jockeys competing at Saratoga Race Course and at all NYRA tracks is absolutely paramount," said NYRA Vice President of Communications Patrick McKenna. "You see that reflected in the time, resources, and attention to the facilities, whether it's the track surfaces, the turf courses, or investing in the science and technology that can prevent these kinds of things before they happen."Dr. Scott Palmer, The New York State Equine Medical Director, tells NEWS10...

EU AI Act: First regulation on artificial intelligence 

Published Sat, 22 Feb 2025 10:28:38 GMT

The use of artificial intelligence in the EU will be regulated by the AI Act, the world’s first comprehensive AI law. Find out how it will protect you, Society.As part of its digital strategy, the EU wants to regulate artificial intelligence (AI) to ensure better conditions for the development and use of this innovative technology. AI can create many benefits, such as better healthcare; safer and cleaner transport; more efficient manufacturing; and cheaper and more sustainable energy.In April 2021, the European Commission proposed the first EU regulatory framework for AI. It says that AI systems that can be used in different applications are analysed and classified according to the risk they pose to users. The different risk levels will mean more or less regulation. Once approved, these will be the world’s first rules on AI.Learn more about what artificial intelligence is and how it is used.What Parliament wants in AI legislationParliament’s priority is to make sure that AI systems ...