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Stock market today: Wall Street opens higher following signal that labor market is cooling

Published Tue, 25 Feb 2025 21:54:51 GMT

NEW YORK (AP) — Stocks are opening higher on Wall Street after a closely watched report showed that the job market, while still healthy, has been showing some signs of cooling. That’s leading markets to hope that the Federal Reserve can soon ease up on its campaign to slow down the economy by raising interest rates. The S&P 500 was up 0.4% in the early going. The index is coming off its first monthly loss since February. The Dow rose 144 points, or 0.4%, and the Nasdaq composite was up 0.2%. The yield on the two-year Treasury note eased back to 4.81%. THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.Wall Street followed global markets higher Friday with strong U.S. jobs data boosting shares. Futures for the Dow and S&P 500 each rose about 0.4% before the bell.US employers added a solid 187,000 jobs in August, showing how resilient the U.S. labor market is despite an extended campaign by the U.S. Federal Reserve to cool hiring and inflation. The strong job mar...

After Maui’s wildfires, thousands brace for long process of restoring safe water service

Published Tue, 25 Feb 2025 21:54:51 GMT

Maggie T. Sutrov showered, drank treated tap water and watered her garden before she learned that she shouldn’t be using the water in her home on Maui after wildfires devastated the island. Concerned about others making the same mistake, she quickly created a flier on water contamination from guidance she’d found on the county’s website and worked with a pop-up community center to get the word out.“Every day, people were showing up there going ‘What, I can’t drink the water? I didn’t know that,’” Sutrov said. Three weeks after the fire, Sutrov and others are anxious to know when the island’s water will be safe.“When is this over?” Sutrov wondered.So far, tests have found no concerning levels of contaminants in the drinking water. But extensive testing is still needed, with access to most of Lahaina slowed by hazardous conditions and the search for human remains.Some areas under the unsafe water advisory could be cleared to use their tap water in a coupl...

NASA spacecraft around moon spots likely crash site of Russia’s lost lunar lander

Published Tue, 25 Feb 2025 21:54:51 GMT

CAPE CANAVERAL, Fla. (AP) — A NASA spacecraft around the moon has found the likely crash site of Russia’s lost lunar lander. The Luna 25 lander slammed into the moon last month, a harsh end to Russia’s first moon mission in almost half a century. Based on observations by its Lunar Reconnaissance Orbiter, NASA said Thursday that it appears the impact created a crater 33 feet (10 meters) across. This fresh crater is about 250 miles (400 kilometers) short of the spacecraft’s intended landing site at the lunar south pole, and farther north. NASA’s spacecraft found no evidence of a crater in this spot in pictures taken during a flyover last year.It’s located on the steep inner rim of an ancient and considerably larger crater.Since the newfound crater is close to where scientists believe Russia’s lunar lander crashed, “it is likely to be from that mission, rather than a natural impactor,” NASA said in a statement.Meanwhile, India’s rover is exploring the moon’s sou...

El Mocambo continues live music legacy in Toronto’s Kensington-Chinatown

Published Tue, 25 Feb 2025 21:54:51 GMT

When it comes to institutions in Toronto’s Kensington-Chinatown neighbourhood, the El Mocambo is one of the few that can garner emotional reactions among people across the city.Located on Spadina Avenue, the El Mocambo has been operated at the same spot for 75 years and in recent decades there have been standing room-only concerts with huge names stopping by every so often.The iconic location had a humble beginning in the late-1940s. It started off by focusing on fine dining food with Mexican influences, ballroom dancing and music. After being sold a couple of times and thanks to a new music booker, the live-venue started hosting artists such as Ronnie Hawkins and Buddy Guy.However, the establishment catapulted to notoriety in 1977 thanks to an opening act under the pseudonym of The Cockroaches during an April Wine concert.“Concert-goers lost their mind when The Cockroaches turned out to be the Rolling Stones so our goal is that the Rolling Stones will come back here aft...

Biden wants an extra $4 billion for disaster relief, bringing the total request to $16 billion

Published Tue, 25 Feb 2025 21:54:51 GMT

WASHINGTON (AP) — The White House will seek an additional $4 billion to address natural disasters as part of its supplemental funding request, bringing the total to $16 billion — a sign that wildfires, flooding and hurricanes that have intensified during a period of climate change are imposing ever higher costs on U.S. taxpayers.The Biden administration had initially requested $12 billion in extra funding for the Federal Emergency Management Agency’s disaster relief fund, which helps with rescue and relief efforts. But a spokesperson in the Office of Management and Budget, Shelby Wagenseller, said that the fires in Hawaii and Louisiana as well as flooding in Vermont and Hurricane Idalia striking Florida and other Southeastern states mean that a total of $16 billion is needed.As recently as Tuesday, FEMA Administrator Deanne Criswell had stressed that $12 billion would be enough to meet the agency’s needs through the end of the fiscal year this month.Criswell told reporte...

India envoy to Canada says Ottawa has asked to ‘take a pause’ in trade talks

Published Tue, 25 Feb 2025 21:54:51 GMT

OTTAWA — India’s envoy to Canada says Ottawa has tapped the brakes on trade negotiations, just before Prime Minister Justin Trudeau heads to New Delhi.Indian High Commissioner Sanjay Kumar Verma said Ottawa sought a pause “within the last month” to ongoing talks for an Early Progress Trade Agreement.“The Canadian side has requested that, let’s take a pause; let’s see what can be done further, and then we’ll restart,” Verma said, in a wide-ranging interview ahead of next week’s G20 summit in New Delhi.“I’m not sure what the reason is. But there is an honest request from the Canadian side, and we have no reason not to accept it.”Since March 2022, the two countries have been negotiating a deal that would be restricted to certain industries, instead of spanning the entire economy.The talks follow a five-year hiatus. Both countries had entered negotiations in 2010 for a comprehensive deal, but they abandoned the plan...

What to stream this weekend: Indiana Jones, ‘One Piece,’ ‘The Menu’ and tunes from NCT and Icona Pop

Published Tue, 25 Feb 2025 21:54:51 GMT

”Indiana Jones and the Dial of Destiny” and the second season debut of the third “Power” spin-off “Power Book IV: Force” are among the new television, movies, music and games headed to a device near youAmong the offerings worth your time as selected by The Associated Press’ entertainment journalists are the new musical game for the Nintendo Switch called Samba de Amigo: Party Central, the fine-dining satire “The Menu” being served on Hulu and a new album from the 20-member K-pop super group NCT.NEW MOVIES TO STREAM— ”Indiana Jones and the Dial of Destiny,” Harrison Ford’s last outing as the adventure-seeking archaeologist, is finally available to watch at home via video-on-demand. This fourth installment might not be quite as great as “Raiders” or “The Last Crusade,” but it’s also more fun than many gave it credit for on its bumpy release this summer. Veteran director James Mangold took the helm from Steven Spielberg and does his best to capture all the things we love about Indy, in...

Competition Bureau approves RBC’s proposed takeover of HSBC Canada

Published Tue, 25 Feb 2025 21:54:51 GMT

GATINEAU, Que. — Royal Bank of Canada has obtained approval from the Competition Bureau for its proposed acquisition of HSBC Bank Canada. After an extensive review, The Competition Bureau said the deal likely won’t significantly lessen competition in the banking sector. However, the bureau says the financial services market in Canada overall remains very concentrated.The bureau’s review considered a broad range of sources, including more than 1,500 submissions from Canadians. The approval will be used in the Finance Minister’s decision-making process on whether to give the final greenlight for the deal to proceed. RBC first announced its proposed takeover of HSBC Canada in November 2022, with a price tag of $13.5 billion.This report by The Canadian Press was first published Sept. 1, 2023.Companies in this story: (TSX:RY)The Canadian Press<!– Photo: 20230901090924-64f1e6368b7c98d97615339fjpeg.jpg, Caption: Royal Bank of Canada has obtained approval from the...

Members show to Friday Morning Swim Club despite cancellation

Published Tue, 25 Feb 2025 21:54:51 GMT

CHICAGO -- Organizers say they had to shut down the Friday Morning Swim Club once the park district and police got involved -- but swimmers still showed today.Friday Swim Club has been going on for the past two years as a fun dip in the water for an hour every Friday morning with their Instagram page accumulating more than 50,000 followers.Every Friday morning, hundreds gathered at Montrose Harbor to jump into the water at 7:10 a.m. Many have floating devices and others are just swimming along. Illinois’ first music festival permitting cannabis consumption announced Issues have come through after organizers say the park district and Chicago police called out swimming before the authorized beach hours between 11 a.m. and 7 p.m. No lifeguards are around when people jump into the lake that early in the morning. Last week's meetup was cancelled due to the issues, yet still hundreds gathered and jumped into the lake.“I don’t think it will be the last, it was the first time,” someone sa...

Walgreens CEO exits less than 3 years after taking over drug store chain

Published Tue, 25 Feb 2025 21:54:51 GMT

NEW YORK (AP) — The CEO of Walgreens Boots has stepped down after less than three years at the helm of the drug store chain that is undergoing a sizeable transformation, one that has come at a cost. Walgreens Boots Alliance confirmed Rosalind Brewer's exit Friday. According to the Illinois company, the board of directors and Brewer “mutually agreed” to her resignation effective Thursday.Ginger Graham, who currently serves as Walgreen Boots Alliance's lead independent director, has been named interim CEO.“I am grateful to have had the opportunity to lead Walgreens Boots Alliance and to work alongside such talented and dedicated colleagues," Brewer said in a written statement. "I am confident that WBA is on track to be a leading consumer-centric healthcare company, serving thousands of communities across the country.”Walgreens Boots Alliance, Inc. is the parent company of Walgreens and other consumer brands around the world — including Boots, Duane Reade, No7 Beauty Company, Benavides...