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Stock market today: Wall Street drifts lower again with new jobs data arriving over the next 2 days

Published Tue, 25 Feb 2025 21:50:50 GMT

BANGKOK — Wall Street headed lower for a second day and markets in Europe and Asia fell as well with U.S. Treasury Secretary Janet Yellen in China Thursday attempting to lower tensions between the world’s two largest economies. Futures for the S&P 500 and the Dow Jones Industrial Average lost 0.5%. Share prices have soared recently with more evidence that the U.S. economy is churning along, fending off recession so far despite high interest rates. A hot economy is not what the Federal Reserve needs right now in its fight against inflation. Minutes from the Federal Reserve’s latest policy meeting released Wednesday showed that some central bank officials wanted to raise rates in mid-June, though in the end they voted unanimously to keep rates steady. The threat of further rate hikes has been weighing on investor sentiment. One area the Fed is watching closely is the U.S. jobs landscape. The Labor Department releases weekly jobs numbers Thursday, along with a report on job o...

Zendaya tennis drama ‘Challengers’ to open Venice Film Festival

Published Tue, 25 Feb 2025 21:50:50 GMT

The Venice Film Festival is serving up one of the year’s buzzier films as its opening night selection in Luca Guadagnino’s “Challengers.” The romantic tennis drama starring Zendaya, “West Side Story’s” Mike Faist and “The Crown’s” Josh O’Connor will have its world premiere out of competition at the 80th edition of the festival in September, organizers said Thursday.“Challengers” stars Zendaya as a tennis prodigy whose past collides with her present when her husband, played by Faist, faces off against a competitor who was once his best friend and her boyfriend. A spicy and suggestive teaser trailer that debuted recently quickly became a popular meme on social media.“It’s a modern bold story of youthful energy, love and power,” Guadagnino said in a statement. “I can’t wait for the Lido audience to dance across the notes of the soundtrack of Trent (Reznor) and Atticus (Ross) at the opening night of the 80th edition of the Mostra.”The Italian director has had several films premiere at t...

Death toll from 2 weeks of monsoon rains in Pakistan rises to 43 amid fears of floods, officials say

Published Tue, 25 Feb 2025 21:50:50 GMT

LAHORE, Pakistan (AP) — The death toll from two weeks of monsoon rains rose to at least 43 on Thursday after four people died in weather-related incidents in Pakistan’s eastern city of Lahore amid fears of floods, authorities said.Lahore witnessed a record-breaking downpour the previous day, flooding many streets and disrupting normal life. Since Wednesday, 11 people have died in the city due to collapsing roofs and electrocution, officials said. Pakistan’s weather forecast agency warned of more rain to hit the city.Heavy rain also continued to lash the rest of the impoverished nation, overflowing the main rivers in the Punjab province, Jhelum and Chenab, prompting the disaster management agency to be on high alert for fear of flash floods. The rains have returned to Pakistan a year after the climate-induced downpour swelled rivers and inundated at one point one-third of Pakistan, killing 1,739 people. The floods also caused $30 billion in damage in cash-strapped Pakista...

More Americans apply for jobless benefits, but layoffs are not rising significantly

Published Tue, 25 Feb 2025 21:50:50 GMT

The number of Americans applying for jobless benefits rose last week, but remains at healthy levels despite the Federal Reserve’s attempt to cool the labor market by raising interest rates.U.S. applications for jobless claims rose by 12,000 to 248,000 for the week ending July 1, from 236,000 previous week, the Labor Department reported Thursday. The four-week moving average of claims, which evens out some of the week-to-week volatility, fell by 3,500 by 253,250.Jobless claim applications are seen as a proxy for the number of layoffs in a given week.Overall, 1.72 million people were collecting unemployment benefits the week that ended June 24, 13,000 fewer than the previous week.Matt Ott, The Associated Press

German government puts off vote on a contentious heating plan until September

Published Tue, 25 Feb 2025 21:50:50 GMT

BERLIN (AP) — Germany’s governing coalition has put off until September a vote on contentious legislation to encourage the replacement of fossil fuel heating systems after the country’s top court shot down plans to push the bill through parliament this week.The Federal Constitutional Court’s last-minute ruling on Wednesday night was awkward for German Chancellor Olaf Scholz’s three-party coalition, denying it the chance to move on quickly from a lengthy dispute over a central climate policy plan that has dragged it down in polls.The government had hoped to get the legislation passed Friday, the last day before parliament’s summer recess. But the court blocked lawmakers from considering it this week, issuing an injunction sought by a conservative opposition member who argued that not having time for more detailed consideration would violate his rights.Top coalition lawmakers conferred Thursday and then announced they would seek a vote in early September, when parlia...

Chloe confirms Gabriela Hearst is leaving, as eyes look toward Fendi show to cap couture

Published Tue, 25 Feb 2025 21:50:50 GMT

PARIS (AP) — Fashion whispers have finally been confirmed: Gabriela Hearst is stepping down as the creative director of Maison Chloé after a brief but impactful three-year tenure. Hearst, the first female designer with multicultural roots (Uruguay and United States) to lead a Parisian fashion house, has been a transformative force at Chloé since her appointment in December 2020.Here are some highlights of the last day of fall couture shows on Thursday that will include Fendi later in the day: GABRIELA HEARST BIDS ADIEU TO CHLOÉ, LEAVING A GREEN LEGACYDespite the relative brevity of her tenure, Hearst leaves an indelible imprint on Chloé. She ushered the house into a new era of sustainability, turning it into the first European luxury fashion house to secure a B Corp certification. Hearst’s sustainability agenda included innovative initiatives such as the integration of eco-friendly materials, a ground-breaking resale program and collections focusing on climate-forward solutions.Her ...

Day six of B.C. port strike as management calls for binding arbitration

Published Tue, 25 Feb 2025 21:50:50 GMT

VANCOUVER — The organization that represents employers at roughly 30 strikebound ports in British Columbia says binding arbitration could end the six-day-old dispute. More than 7,000 members of the International Longshore and Warehouse Union walked off the job on Canada Day after voting overwhelmingly to strike against the BC Maritime Employers Association. Talks stalled Monday and business groups are increasingly demanding federal legislation to end the disruption, while CP Rail, now known as CPCK Ltd., says it has issued temporary embargoes on rail traffic to the Port of Vancouver. The latest statement from the employers association says binding arbitration could bring the dispute to a swift close, something it first proposed in mid-June in the weeks before workers went off the job. Federal Labour Minister Seamus O’Regan discussed the strike with his B.C. counterpart, Labour Minister Harry Bains, on Wednesday, but O’Regan has so far resisted calls to legislate the stri...

Dog trapped between 2 buildings in California rescued by firefighters

Published Tue, 25 Feb 2025 21:50:50 GMT

(KTLA) -- Firefighters rescued a large dog stuck between two buildings in California on Wednesday, authorities said.  Crews with the Los Angeles Fire Department responded to a call from Tujunga at around 2:48 p.m. “Firefighters were made aware of the trapped dog while finishing up with a medical response nearby,” LAFD said on an Instagram post.  The dog, named Ziggi, is believed to have crawled into the narrow space between the two buildings to escape the sound of fireworks, fire officials said, and had likely been stuck there overnight.  “Ziggi was stuck in there pretty good,” said Barry Koven, Ziggi's owner. “We pulled her up and then she went back down. I thought I was going to lose her. She brings a lot of happiness to me. She doesn’t deserve to die in a wall.”  Dog in carrier found hanging on Oklahoma Humane Society’s front door Video of Ziggi taken after his rescue showed a happy pooch with no apparent injuries from the incident. Ziggi seen here getting pets afte...

Which out-of-state driver's licenses are no longer valid in Florida?

Published Tue, 25 Feb 2025 21:50:50 GMT

TALLAHASSEE, Fla. (WFLA) – Gov. Ron DeSantis announced Wednesday a list of out-of-state driver's licenses that are no longer valid in Florida due to a new law considered to be its toughest immigration crackdown to date. DeSantis, along with the Florida Department of Highway Safety and Motor Vehicles, created the list of invalid licenses as part of the newly implemented Senate Bill 1718, which includes five states. As of July 1, these out-of-state licenses are no longer valid in Florida if the driver is in the U.S. illegally. Delaware ConnecticutHawaiiRhode Island Vermont “Someone who is in our country illegally and has violated our laws should not possess a government-issued ID which allows them access to state-funded services and other privileges afforded to lawful residents," DeSantis said. “The Biden administration may continue to abdicate its responsibilities to secure our border, but Florida will stand for the rule of law. Even if the federal government refuses, Florida will ac...

Developer eyes 722-acre lakeside development near Lake Georgetown

Published Tue, 25 Feb 2025 21:50:50 GMT

AUSTIN (ABJ) -- A Wyoming-based developer is eyeing a 722-acre development in Georgetown that could bring 1,500 homes and a 15-acre resort hotel to the west side of Lake Georgetown.While the project is still in its initial stages, representatives from Zovest Capital LLC on June 27 presented a proposal to the Georgetown City Council to support creating a municipal utility district for Lakeside Estates, which would be next to Santa Rita Ranch in the city's extraterritorial jurisdiction. The Santa Rita Ranch neighborhood is still being built out, but it's already one of the biggest neighborhoods in Central Texas.Read the full story online in the Austin Business Journal.