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Stock market today: Asian markets lower after Japan factory activity, China services weaken

Published Wed, 26 Feb 2025 05:47:58 GMT

BEIJING (AP) — Asian stock markets were mostly lower Thursday after Japanese factory activity and Chinese service industry growth weakened.Shanghai, Hong Kong and Seoul declined. Tokyo gained. Oil prices edged lower.Wall Street’s benchmark S&P 500 index rose 0.4% on Wednesday after the U.S. government cut its estimate of economic growth for the second quarter to a still-robust level.Traders hope that and data on hiring and retail sales will convince the Federal Reserve upward pressure on prices is under control and no more interest rate hikes are needed.Official data showed Japanese factory activity shrank by 2% from the previous month in July. Meanwhile, a survey of Chinese service industries showed activity weakened in July but still was expanding.“Things could be worse. But markets are not likely to take too much comfort from this set of data,” said Rob Carnell of ING in a report.The Shanghai Composite Index lost 0.5%to 3,122.37 while the Nikkei 225 in Tokyo advanced 0....

Japan’s PM visits fish market, vows to help fisheries hit by China ban over Fukushima water release

Published Wed, 26 Feb 2025 05:47:58 GMT

TOKYO (AP) — Japan’s Prime Minister Fumio Kishida sampled seafood and talked to workers at Tokyo’s Toyosu fish market Thursday to assess the impact of China’s ban on Japanese seafood in reaction to the release of treated radioactive wastewater from the wrecked Fukushima Daiichi plant to the sea.The release of the treated wastewater began last week and is expected to continue for decades. Japanese fishing groups and neighboring countries opposed it, and China immediately banned all imports of Japanese seafood in response. One of the seafood business operators told Kishida that sales of his scallops, which are largely exported to China, have dropped 90% since the treated water discharge. “We will compile support measures that stand by the fisheries operators,” Kishida told reporters after the market visit. “We will also resolutely call on China to scrap its trade restrictions that has no scientific bases.”China had stepped up testing on Japanese fisheries products, causing long ...

Texas Attorney General Ken Paxton pursued perks beyond impeachment allegations, ex-staffers say

Published Wed, 26 Feb 2025 05:47:58 GMT

AUSTIN, Texas (AP) — Unexplained Caribbean and European trips that cost taxpayers more than $90,000. A $600 sports coat paid for by an event organizer. A $45 office Christmas cake taken as his own.These are among the perks that Republican Texas Attorney General Ken Paxton ‘s former employees say he reveled in while using his office in ways that now have him facing a federal criminal investigation and potential ouster over allegations of corruption.Paxton’s impeachment trial that starts Tuesday covers years of highly publicized scandal, criminal charges and whistleblower accounts from his inner circle. But records obtained by The Associated Press, interviews with former aides and a review of thousands of legal filings reveal other ways in which Paxton allegedly reaped the benefits of being one of Texas’ most powerful figures. Together, they show how conviction and removal from office could cost Paxton not just a job but a lifestyle.Last year, that lifestyle included more ...

Tampa Bay area gets serious flooding but again dodges a direct hit from a major hurricane.

Published Wed, 26 Feb 2025 05:47:58 GMT

Last year it was Hurricane Ian that drew a bead on Tampa Bay before abruptly shifting east to strike southwest Florida more than 130 miles (210 kilometers) away. This time it was Hurricane Idalia, which caused some serious flooding as it sideswiped the area but packed much more punch at landfall Wednesday, miles to the north.In fact, the Tampa Bay area hasn’t been hit directly by a major hurricane for more than a century. The last time it happened, there were just a few hundred thousand people living in the region, compared with more than 3 million today.“Tampa Bay avoided the worst again,” Brian McNoldy, a senior research associate at the University of Miami’s Rosenstiel School of Marine, Atmospheric and Earth Science, said via email. “A lot of it comes down to luck. It’s happened before ( 1848, 1921 ) and will happen again.” Many in the area live in low-lying neighborhoods that are highly vulnerable to storm surge and flooding they have rarely before experienced, which some ...

Newsom plans to transform San Quentin State Prison. Lawmakers and the public have had little input

Published Wed, 26 Feb 2025 05:47:58 GMT

SACRAMENTO, Calif. (AP) — California Gov. Gavin Newsom has ambitious and expensive plans for a dilapidated factory at San Quentin State Prison where inmates of one of the nation’s most notorious lockups once built furniture, and lawmakers have given him the greenlight to start with little input or oversight. He wants to spend $360 million demolishing the building and replacing it with one more reminiscent of a college campus, with a student union, classrooms and possibly a coffee shop. It’s part of his desire to make San Quentin, once home to the nation’s largest death row and where the state performed executions, a model for preparing people for life on the outside — a shift from the state’s decades-long focus on punishment.And Newsom wants it all to happen by December 2025, just before he leaves office.A 21-member advisory council Newsom selected to help shape the new facility’s design and programming does not have to follow open meetings laws, while the Legislature traded away se...

What to know about the impeachment trial of Texas Attorney General Ken Paxton

Published Wed, 26 Feb 2025 05:47:58 GMT

AUSTIN, Texas (AP) — The Texas Senate is set to gavel in Tuesday for the impeachment trial of state Attorney General Ken Paxton, a formal airing of corruption allegations that could lead Republican lawmakers to oust one of their own as lead lawyer for America’s largest red state.In May, the state House of Representatives voted overwhelmingly to impeach Paxton on articles including bribery and abuse of public trust. It was a sudden rebuke by the GOP-controlled chamber of a star of the conservative legal movement who has weathered years of scandal and alleged crimes.Paxton is only the third sitting official in Texas’ nearly 200-year history to be impeached. The House vote suspended the 60-year-old from the office he used in 2020 to ask the U.S. Supreme Court to overturn President Joe Biden’s electoral defeat of Donald Trump.Paxton decried the impeachment as a “politically motivated sham” and said he expects to be acquitted. His lawyers have said he won’t testify before the...

Groups seek to use the Constitution’s ‘insurrection’ clause to block Trump from 2024 ballots

Published Wed, 26 Feb 2025 05:47:58 GMT

As former President Donald Trump continues to dominate the Republican presidential primary, some liberal groups and a growing number of legal experts contend that a rarely used clause of the Constitution prevents him from being president after the Jan. 6, 2021, attack on the U.S. Capitol.The 14th Amendment bars anyone from holding office who once took an oath to uphold the Constitution but then “engaged” in “insurrection or rebellion” against it. A growing number of legal scholars say the post-Civil War clause applies to Trump after his role in trying to overturn the 2020 presidential election and encouraging his backers to storm the U.S. Capitol.Two liberal nonprofits pledge court challenges should states’ election officers place Trump on the ballot despite those objections. The effort is likely to trigger a chain of lawsuits and appeals across several states that ultimately would lead to the U.S. Supreme Court, possibly in the midst of the 2024 primary season. The matter add...

California panel to vote on increasing storage at site of worst US methane leak despite risks

Published Wed, 26 Feb 2025 05:47:58 GMT

LOS ANGELES (AP) — California officials are expected to vote Thursday on a proposal to increase storage capacity at the site of the nation’s largest known methane leak that sickened thousands of families and forced them from their Los Angeles homes in 2015.The proposal for the Aliso Canyon Natural Gas Storage Facility has sparked protests from residents, environmentalists and politicians, but utilities and state regulators say its necessary to guard against fuel price spikes this winter.“This is an unnecessary danger to people,” said Issam Najm, an environmental engineer and resident of Los Angeles’ Porter Ranch suburb, where thousands of residents were sickened by the leak.Each day the facility remains open, it is emitting cancer-causing chemicals including benzene, said Najm, citing reports by the South Coast Air Quality Management District, the regulatory agency monitoring air pollution in the area.He and other opponents, including Democratic lawmakers, say the state should...

Tempers boil over at South Side meeting discussing migrant housing

Published Wed, 26 Feb 2025 05:47:58 GMT

CHICAGO — South Side residents voiced their opinions during a meeting Wednesday night centered around a plan to re-open a Kenwood hotel as a migrant shelter.According to city leadership, the Chicago Lake Shore Hotel will serve as a migrant shelter, housing up to 300 asylum-seekers, which could begin as early as Friday, Sept. 1.5th Ward Alderman Desmon Yancy led the emergency community meeting, which lasted two hours and became quite heated as city leaders shared their plan with residents.“Yelling and devolving into chaos isn’t going to get us anything,” Yancy said.Yancy told the crowd he only learned of plans to utilize the shelter for migrant housing last week, after the decision had already been made. He wanted to allow community members to share their thoughts and concerns, which is why he called the meeting. More from Courtney: ‘Now he’s a real angel:’ South Side community gathers to remember slain 14-year-old boy As city leaders attempted to answer questions, they were interr...

2 sentenced for role in dismemberment of homicide victim, whose remains were dumped in Lake Superior

Published Wed, 26 Feb 2025 05:47:58 GMT

GRAND MARAIS, Minn. — It’s been more than two years since St. Paul resident Ricky Balsimo Jr. was murdered on Father’s Day, driven hundreds of miles north, dismembered and callously tossed in Lake Superior, where those responsible believed he’d never be found.The plan likely would have succeeded if not for the persistence of the Balsimo family, who felt shunned by police and spent weeks pursuing their own investigation, ultimately helping bring the offenders to justice.Still, time has done little to heal the trauma, as evidenced by a pair of sentencings Tuesday in Cook County District Court.“I have to learn how to love and trust again,” his sister, Raquel Turner, said. “After this, I don’t know how to be a normal person. I don’t know how to get through a day without anger and hate.”Richard Anthony BalsimoTwo Northland residents who played active roles in covering up the murder after the fact were the first to receive their punishments, ahead of the killer’s sentencing next month.Rob...