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UK mortgage rates spike to highest level since Truss tax plan spooked markets

Published Wed, 26 Feb 2025 02:01:32 GMT

LONDON (AP) — Homeowners and renters in the U.K. faced further grim news Tuesday as mortgage rates hit levels not seen since unfunded tax cuts announced by the government last fall spooked investors.With the Bank of England raising interest rates to a 15-year high of 5% to battle high inflation, it’s natural for lenders to increase the cost of borrowing to consumers and businesses. But inflation is proving more stubborn than expected, and the bank is expected to keep hiking rates, potentially to 6%, a level not seen since 2001.That prospect is having a knock-on effect in the cost of mortgages. According to financial information company Moneyfacts, the average rate for a five-year fixed rate mortgage in the U.K. hit 6.01% on Tuesday from 5.97% the previous day. That’s the highest since the aftermath of last fall’s tax plan from Liz Truss’ short-lived government, which caused investors to lose faith in the state of Britain’s public finances. The worry is ...

Alcaraz starts his Wimbledon with a straight-set win and defending champion Rybakina beats Rogers

Published Wed, 26 Feb 2025 02:01:32 GMT

WIMBLEDON, England (AP) — In only his third Wimbledon tournament, Carlos Alcaraz is already one of the main men to beat.The top-seeded Spaniard hasn’t been past the fourth round at the All England Club, but he has become the primary threat in Novak Djokovic’s quest for a record-equaling eighth men’s title at the grass-court Grand Slam.On Tuesday, Alcaraz beat Jeremy Chardy 6-0, 6-2, 7-5 on No. 1 Court — a fitting location for the No. 1 player in the world.The match was played under the roof because rain affected play on the outside courts for the second straight day.“Obviously without the roof, with sun, is much better for me. I think for everyone as well,” Alcaraz said on court. “With the roof or not, I have to show my best level.”His best led Alcaraz to his first major title at the U.S. Open last year. He reached the semifinals at this year’s French Open, but Djokovic ended up winning that match en route to his 23rd Grand Slam title.At Wimbledon, Alcaraz reached the second r...

Suspicious powder found at the White House when Biden was gone was cocaine, AP sources say

Published Wed, 26 Feb 2025 02:01:32 GMT

WASHINGTON (AP) — The White House was briefly evacuated Sunday evening while President Joe Biden was at Camp David after the Secret Service discovered suspicious powder in a common area of the West Wing, and a preliminary test showed the substance was cocaine, two law enforcement officials said Tuesday.Secret Service agents were doing routine rounds on Sunday when they found the white powder in an area accessible to tour groups, not in any particular West Wing office, the officials said. The officials were not authorized to discuss an ongoing investigation and spoke to The Associated Press on condition of anonymity. The complex was evacuated at about 8:45 p.m. Sunday as fire and emergency crews were brought in to do a rapid test, which preliminarily identified cocaine. The White House was soon reopened and the powder was sent for further testing. Biden and his family left for Camp David on Friday and returned to the White House on Tuesday.The Secret Service said in a statement the W...

Wekweeti, N.W.T., residents return home as wildfire under control

Published Wed, 26 Feb 2025 02:01:32 GMT

WEKWEÈTÌ, N.W.T. — Residents of a community north of Yellowknife are returning home after the territories’ wildfire agency decided a wildfire burning near the community is now under control.Wekweeti’s more than 100 residents were ordered to evacuate to Yellowknife last Thursday.Three wildfires were burning near the community at the time, the closest within two kilometres of its homes.The wildfire agency says that fire was brought under control Monday after hard work by a team on the ground.The Tlicho government says flights to return evacuees to the community are leaving Yellowknife on Tuesday and Wednesday.Two other fires continue to be monitored — one across Snare Lake from the community and one at the lake’s western tip. This report by The Canadian Press was first published July 4, 2023. The Canadian Press

6 South African opposition parties to discuss forming alliance to challenge long-ruling ANC

Published Wed, 26 Feb 2025 02:01:32 GMT

CAPE TOWN, South Africa (AP) — Six opposition parties announced Tuesday they will discuss forming an alliance for South Africa’s national election next year in an attempt to end the 30-year hold on power of the African National Congress.Such an alliance has been proposed previously, under the name “Moonshot Pact” — moonshot can mean a long shot but also something that is a giant leap. But the idea gained more momentum with the announcement that the six parties will hold meetings Aug. 16 and 17 to consider creating a united opposition.The parties “came to the inescapable conclusion that forming a united opposition pact ahead of the 2024 election offers us the very best chance to unseat the ANC … and form an alternative that will provide a stable new government to rescue South Africa,” John Steenhuisen, leader of the Democratic Alliance, the second biggest party in Parliament after the ANC, said in a televised address.Under the proposal, the parties would not unite as one ...

Miki Sudo successfully defends hot dog-eating title; stormy weather delays men’s contest

Published Wed, 26 Feb 2025 02:01:32 GMT

NEW YORK (AP) — Defending champion Miki Sudo forced down 39 1/2 hot dogs and buns to claim a ninth women’s title in Nathan’s Famous Fourth of July hot dog eating contest, before stormy weather moved in and delayed the men’s competition.Sudo beat Mayoi Ebihara’s 33 1/2 hot dogs in 10 minutes Tuesday in a contest that appeared to be much closer until the final count was announced. The unofficial real-time counter showed the two women tied throughout much of the competition. A final count of plates settled the score. Sudo, 37, was disappointed in her winning total, which was nine hot dogs short of her all-time high. She said competition from the 27-year-old Ebihara had thrown her off.“The first couple minutes, I found myself watching her, which I never want to do. I never want to be distracted by the other competitors,” Sudo, of Port Richey, Florida, said after the competition. “Watching her, I fumbled my hands. I got stuck with a big burp early on but was able to correct.”...

Arizona governor asked to rescind executive order limiting prosecution of abortion-related cases

Published Wed, 26 Feb 2025 02:01:32 GMT

PHOENIX (AP) — Twelve of Arizona’s 15 county attorneys are calling for Gov. Katie Hobbs to rescind her recent executive order that limits them from prosecuting abortion-related cases.“The governor’s office should not interfere with the discretion of prosecutors in fulfilling their duties as elected officials,” said the attorneys’ letter sent to Hobbs late Monday. “Whether this was the intended purpose, the result is an unnecessary and unjustified impingement on the duties and obligations of elected county attorneys in Arizona.”Gubernatorial spokesman Christian Slater said the governor will not be rescinding the order.“Governor Hobbs will never stop fighting for reproductive freedoms in Arizona,” Slater said in a statement. “She will continue to use her lawful executive authority to put sanity over chaos and protect everyday Arizonans from extremists who are threatening to prosecute women and doctors over reproductive healthcare.”Hobbs’ order signed on June 22 gives state Attorney Ge...

Chanel couture makes a subdued ode to Parisian elegance in fall-winter collection

Published Wed, 26 Feb 2025 02:01:32 GMT

PARIS (AP) — The cobblestoned banks of the Seine River served as the stage for Chanel’s latest haute couture collection. With the Eiffel Tower in the distance, the well-heeled glitterati of the fashion world navigated the uneven terrain for an outdoor collection that celebrated the soul of Paris.Mimicking the famed bouquinistes, those charming bookstalls lining the river’s edge, Chanel erected its own renditions. But upon closer examination, these weren’t ordinary stalls. They were artfully curated homages to the brand’s legacy, showcasing biographies of the legendary Gabrielle “Coco” Chanel and postcards of actresses associated with the house, such as Vanessa Paradis, a modern incarnation of the Parisienne, who applauded from the front row.Here are some highlights of Tuesday’s fall couture collections, including when The Associated Press caught up with French actress Clemence Poesy.CHANEL’S PARIS“This collection is the portrait of a sensitive yet bold Parisienne,” said ...

UAE announces plans to invest $54B in energy and triple renewable sources

Published Wed, 26 Feb 2025 02:01:32 GMT

DUBAI, United Arab Emirates (AP) — The United Arab Emirates plans to triple its supply of renewable energy and invest up to $54 billion over the next seven years to meet its growing energy demands.Sheikh Mohammed bin Rashid Al Maktoum, the UAE’s vice president and ruler of Dubai, announced the plans on Monday following a Cabinet meeting. They also include investments in low-emission hydrogen fuel and developing infrastructure for electric vehicles. He said the updated national energy strategy “aims to triple the contribution of renewable energy over the next seven years and invest 150 billion to 200 billion dirhams ($40 billion to $54 billion) during the same period to meet the country’s growing demand for energy.”The major oil-producing nation has pledged to be carbon-neutral by 2050, without fully explaining how, and is hosting the COP28 climate summit later this year.The latest announcement included the formation of an Investment Ministry to be led by Mohamed Hassan Alsuwai...

Nearly 2,000 Air Canada flights delayed, cancelled over July long weekend

Published Wed, 26 Feb 2025 02:01:32 GMT

Figures from aviation tracker FlightAware show that nearly 2,000 Air Canada flights were delayed or cancelled over the Canada Day long weekend.Roughly half of all trips by the country’s biggest airline — including its lower-cost Air Canada Rouge and regional partner Jazz Aviation — were disrupted Saturday through Monday.The 1,965 flight delays and cancellations stand in contrast to figures from some other Canadian carriers such as WestJet, Air Transat and Flair Airlines, which registered lower flight disruption levels.They also mark an uptick from the previous weekend, despite an unplanned shortage of air traffic controllers at Nav Canada that snarled the travel plans of thousands in that period.Posts and photos of snaking lines and bulging terminals at airports in Toronto and Montreal plastered social media over the past few days as passengers vented their frustration about late takeoffs and customer service.Aviation expert John Gradek says bloated flight schedules and fewer ...