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What you should know as the Fed nears the peak of its rate-hiking cycle

Published Wed, 26 Feb 2025 01:54:39 GMT

NEW YORK (AP) — The Federal Reserve’s likely decision Wednesday afternoon to leave interest rates alone for the first time in 11 meetings will raise hopes that it may be nearing the end of its rate-hiking campaign to cool inflation.That’s not to say the Fed is done raising rates. Most economists foresee another increase or two, starting as soon as next month. And even after the Fed has stopped hiking, it’s likely to keep borrowing rates at a peak for months to come. Consumers would still have to bear the weight of higher-cost auto loans, mortgages, credit cards and other forms of borrowing.Still, some people may feel encouraged by the possibility that loan rates are approaching a peak. And in the meantime, people with savings accounts are enjoying higher yields than they have in years. Fortunately, that isn’t likely to change anytime soon.HOW WILL BORROWERS BE AFFECTED BY ALL THIS?Though the Fed may not have reached the absolute top of its rate-raising cycle,...

Aurora Cannabis reports Bevo acquisition helps boost Q3 revenue higher

Published Wed, 26 Feb 2025 01:54:39 GMT

EDMONTON — Aurora Cannabis Inc. reported revenue in its latest quarter rose compared with a year ago, helped by its acquisition of Bevo Agtech Inc., a supplier of vegetable seedlings and flowers, last year.The company says the increase came as its adjusted earnings before interest, taxes, depreciation and amortization totalled $310,000 for the quarter ended March 31 compared with a loss of $10 million a year earlier.Net revenue totalled $64.0 million for what was the company’s third quarter, up from $50.4 million in the same quarter last year.Aurora says medical cannabis revenue for the quarter totalled $38.0 million, down from $39.4 million, due to limited supply of high-demand products in certain European markets as the company had production issues at its Nordic production facility. The company says it made a decision in May to close the Nordic facility and to return to providing European supply from Canada, a change it expects to improve reliability of supply and increase ...

Golden Knights Stanley Cup title makes NHL history

Published Wed, 26 Feb 2025 01:54:39 GMT

LAS VEGAS — Fans of the newest expansion team in the National Hockey League didn't have to wait long to see their team win one of the most coveted trophies in all of sports.Thanks to a 9-3 win over the Panthers on Tuesday night at T-Mobile Arena in Las Vegas, the Golden Knights captured their first Stanley Cup title in just their sixth year of existence.That's the quickest in NHL history, besting the previous mark set by the Philadelphia Flyers. Starting play in the 1967-1968 season, that franchise won its first Stanley Cup in the 1973-1974 season, their seventh year of play in the NHL.It's the fastest rise to a championship for a major sports franchise since the 2001 Arizona Diamondbacks, who won the World Series in their fourth season. With their win, the Golden Knights become the second professional franchise in Las Vegas in less than a year to win a title, joining the WNBA's Aces, who won a championship in the fall of 2022.Since they started play in the 2017-2018 season, the Gol...

Dean's Home Video: 'Black Mirror,' 'The Full Monty,' 'Star Trek: Strange New Worlds'

Published Wed, 26 Feb 2025 01:54:39 GMT

CHICAGO — As a new season of the latest in the "Star Trek" series begins, another show on Netflix is entering its sixth season while a 1997 film is being adapted into a miniseries on Hulu.These are just a few of the streaming options that were spotlighted "Dean's Home Video" on Wednesday's WGN Morning News. Dean Richards previewed season two of "Star Trek: Strange New Worlds," season six of "Black Mirror," and "The Full Monty."Along with those programs, he also discussed "Pretty Freekin Scary," "Extraction 2," "Jagged Mind," a documentary on Stan Lee, and more.You can watch this edition of "Dean's Home Video" from June 14's WGN Morning News in the video above. Get Dean's reviews and A-List interviews delivered right to your inbox. Sign up for Dean's Downloads weekly newsletter. You'll also get his Dean Cooks recipes too!

How COVID set back the fight against cancer, and why it’s only getting worse

Published Wed, 26 Feb 2025 01:54:39 GMT

(The Hill) -- When COVID lockdowns began in early 2020, millions of people went without cancer screenings they otherwise would have gotten. The full cost of this lapse in cancer surveillance is only starting to come into focus, but early data suggests it could be immense.And physicians fear this screening gap could continue getting wider in the years ahead because of other factors exacerbated by the pandemic, such as health care workforce shortages and altered patient habits. Screenings for cancer vary vastly in how they're performed and how often they should be done, but many can only take place in a doctor’s office. The National Cancer Institute (NCI) estimated about 9.4 million people missed cancer screenings they normally would have gotten in 2020. This screening gap has been particularly extreme for certain forms of cancer.A study published in May found that colorectal cancer screenings fell by 85 percent in the U.S. in the first couple of months of lockdown. Screenin...

Texas Space Commission launches; how it could benefit local aerospace businesses

Published Wed, 26 Feb 2025 01:54:39 GMT

CEDAR PARK, TX (KXAN) - The space industry is getting a little extra oversight in Texas. Tuesday, Governor Greg Abbott signed HB3447 into law, establishing the creation of the Texas Space Commission. The group will distribute $350 million in taxpayer dollars towards the development of the space industry in Texas."Having a space commission, like the Texas space bill, allows industry partners like us to be able to tap into those dollars and expand even more," said Stephen McCall, Director of Government Relations for Firefly Aerospace.Firefly Aerospace, called Austin area's "secret" aerospace company by the group's CEO, is based in Cedar Park. They're currently in a period of expansion, building a new mission control locally and facilities in Briggs, TX.McCall said that the funding the Commission provides could play a major role in their expansion. "(It) allows us to have innovative ideas funded in addition to research opportunities." Texas isn't the first state to have a commission d...

1 dead after motorcycle-vehicle crash on FM 2222

Published Wed, 26 Feb 2025 01:54:39 GMT

AUSTIN (KXAN) -- Medics have pronounced one person dead after a motorcycle crashed with a car on FM 2222 Wednesday morning. Austin-Travis County EMS tweeted the crash happened around 6:46 a.m. on FM 2222 near Bell Mountain Drive. One adult was pronounced dead on the scene of the crash. Part of FM 2222 is closed in the area. Drivers should expect extended delays and avoid the area.

Abbott to sign Texas bill allowing fentanyl deaths to be prosecuted as murder

Published Wed, 26 Feb 2025 01:54:39 GMT

AUSTIN (KXAN) — A new Texas law will up the criminal penalties for fentanyl distribution, including allowing prosecutors to seek a murder charge in connection with fentanyl-related deaths. The bill, which awaits Gov. Greg Abbott's signature, would increase criminal penalties for selling and distributing fentanyl. House Bill 6 also allows prosecutors seek a murder charge for a person who manufactures or delivers fentanyl when someone dies as a result of the controlled substance. PREVIOUS REPORTING: Harm reduction group clashes with Texas lawmakers over fentanyl legislation Abbott said Tuesday on Twitter that he will "soon" sign the legislation. When signed, it would go into effect Sept. 1."Fentanyl poisoning robs families of their loved ones," he wrote on Twitter. "I made fighting the fentanyl crisis an emergency item for the regular legislative session."A case of a fentanyl-related murder charge has already happened in Central Texas. In May, an 18-year-old was charged with murder...

Luling gets $1 million federal grant for job creation

Published Wed, 26 Feb 2025 01:54:39 GMT

WASHINGTON, D.C. (KXAN) – The U.S. Department of Commerce's Economic Development Administration announced Tuesday it awarded Luling, Texas a $1 million grant "to support business growth and job creation through infrastructure improvements at the city’s industrial park."According to Tuesday's announcement, the money will provide roadway, water, and broadband improvements to support business expansion in aerospace manufacturing and other industries, including meat and poultry processing. The EDA said the grant would be matched with $666,667 in local funds, and is expected to create and retain nearly 400 jobs, and generate $25.5 million in private investment, according to grantee estimates.“The Economic Development Administration works hand-in-hand with local communities to support bottom-up, middle-out economic development,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo in the release. “This project will pave the way for new businesses to est...

Gov. Abbott signs bill setting up AI advisory council in Texas

Published Wed, 26 Feb 2025 01:54:39 GMT

AUSTIN (KXAN) – Gov. Greg Abbott Monday signed a bill establishing an Artificial Intelligence Advisory Council. According to the governor's office, the seven-member council would study and monitor artificial intelligence technology developed, employed or procured by Texas state agencies. “As AI becomes more prevalent as a revolutionary tool in our lives and in our workforce, we must ensure that this technology is developed in a responsible and ethical way in Texas to help boost our state's growing economy,” Gov. Abbott said. The Council will assess the need for a state code of ethics for AI in state government, review automated decision systems, evaluate potential benefits and risks as a result of implementing automated decision items, and recommend administrative actions state agencies may take to ensure AI systems are thoughtfully and ethically developed, according to Tuesday's announcement from the governor's office.House bill 2060 was sponsored by State Rep. Giovanni Caprig...