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Federal Reserve on cusp of defeating inflation without steep recession

Published Wed, 26 Feb 2025 18:18:06 GMT

It was the most painful inflation Americans had experienced since 1981, when “The Dukes of Hazzard” and “The Jeffersons” were topping the TV charts. Yet the Federal Reserve now seems on the verge of defeating it — and without the surge in unemployment and the deep recession that many economists had predicted would accompany it.Inflation has been falling more or less steadily since peaking in June of last year at 9.1%. And when the Fed’s preferred inflation gauge for November is reported next week, it’s likely to show that in the past six months, annual inflation actually dipped just below the Fed’s target of 2%, economists at UBS estimate.The cost of goods — such as used cars, furniture and appliances — has fallen for six straight months. Compared with a year ago, goods prices are unchanged, held down by improved global supply chains.Housing and rental costs, a major driver of inflation, are growing more slowly. Wage growth has cooled, too, though it still tops inf...

Ticker: Quaker Oats recalls granola products over concerns of salmonella contamination

Published Wed, 26 Feb 2025 18:18:06 GMT

Quaker Oats on Friday recalled several of its granola products, including granola bars and cereals, saying the foods could be contaminated with salmonella.Salmonella infections can cause fever, diarrhea, nausea, vomiting and stomach pain, according to the Food and Drug Administration. In rare cases, the bacterial disease can be fatal.Quaker, which is owned by PepsiCo, said in a news release that it has not received any reports of salmonella infections related to the recalled granola products, which have been sold  in every U.S. state and territory. The full list of recalled foods includes granola oats cereals and Quaker Chewy Bars.The company is asking customers with recalled products to throw them away and contact its customer support line at 1-800-492-9322 or visit the recall website at QuakerGranolaRecall.com for more information and reimbursement.Congressional Budget Office projects lower inflation and higher unemployment into 2025The Congressional Budget Office says it expects ...

A 'Scrippshenge' parallel: Crescent moon winks above Oceanside Pier

Published Wed, 26 Feb 2025 18:18:06 GMT

OCEANSIDE, Calif. -- It was a moment captured by an artist's eye -- Friday night's waxing crescent moon hovered above the Oceanside Pier, almost perfectly aligned to its center. "The moon winks goodnight," described Travis Griffith in a social media post shared on both Instagram and X. This local photographer and creator of Light and Magic Art was in the right place at the right time, capturing on camera a moment that can be compared to the famous Scrippshenge. VIDEO: Coyote seen prowling Mt. Soledad neighborhood, but why? As reported by FOX 5 time and time again, the Scrippshenge spectacle can viewed once or twice a year when the setting sun dips toward the horizon, perfectly aligning between the support beams of the Scripps Pier in La Jolla. Though this crescent moon is not framed from above like the aforementioned sunset sought by so many year and year, Griffith's photo depicts the Oceanside Pier's ramp as a pathway leading directly to a hanging Luna. It's almost like...

$148 million damages verdict adds to Rudy Giuliani’s financial woes as he awaits his criminal trial

Published Wed, 26 Feb 2025 18:18:06 GMT

A criminal trial awaits Rudy Giuliani in Georgia. He is an alleged unnamed co-conspirator in a federal indictment against Donald Trump. And now he’s been ordered to pay a sum he surely cannot afford. The $148 million verdict in a defamation case brought by two former Georgia election workers marks a new low point for the man once lauded as “America’s mayor,” whose advocacy of Donald Trump’s false election claims has led to criminal charges and hefty legal bills. And the jury’s verdict could be a troubling sign for Giuliani as he gears up to defend himself against charges in Georgia that could land him behind bars. “It’s like everything is crashing down on him,” said Nick Akerman, a New York attorney who briefly worked alongside Giuliani in the federal prosecutors’ office there. “He hasn’t come to grips with what he has done to his life. He has completely destroyed himself.” A defiant Giuliani vowed Friday to appeal, calling the damages award for R...

British man pleads not guilty in alleged $99 million wine fraud conspiracy

Published Wed, 26 Feb 2025 18:18:06 GMT

NEW YORK (AP) — A British man pleaded not guilty in a New York courtroom Saturday in connection with an alleged $99 million, Ponzi-like fraud involving high-priced fine wine and duped investors.Stephen Burton, 58, was extradited Friday to New York from Morocco, where he was arrested in 2022 after using a bogus Zimbabwean passport to enter that country, U.S. Attorney Breon Peace’s office said.Burton was arraigned in Brooklyn federal court on Saturday and pleaded not guilty to charges of wire fraud, wire fraud conspiracy and money laundering conspiracy. He is detained without bail pending his next court hearing on Jan. 22.“These are all allegations, and we will defend them vigorously,” Burton’s lawyer, John Wallenstein, said. “We’re going to wait for the discovery and examine the evidence very carefully.”Prosecutors said Burton and another British man, James Wellesley, 56, ran a company called Bordeaux Cellars, which they said brokered loans between investors and wealthy wine co...

People’s Party candidate must stop using ‘engineer,’ B.C. Supreme Court rules

Published Wed, 26 Feb 2025 18:18:06 GMT

VICTORIA — A British Columbia Supreme Court judge has ruled that a Vancouver Island People’s Party of Canada candidate who ran against Elizabeth May in the last federal election must stop describing himself as an engineer.The decision from Justice Jan Brongers says David Hilderman publicly described himself as an engineer in campaign materials and on social media, while not being a member of the province’s association of professional engineers and geoscientists.Brongers found that to be a breach of the province’s Professional Governance Act and he ordered Hilderman to stop using the title.The association filed a lawsuit in 2022 to stop Hilderman from using the word “engineer” as a non-member, claiming it created the “erroneous impression” that he was authorized to practise as a professional engineer. The judge’s ruling, released Thursday, says Hilderman holds a bachelor of applied sciences from the University of Regina and has worked i...

Activision Blizzard to pay $54 million to settle California state workplace discrimination claims

Published Wed, 26 Feb 2025 18:18:06 GMT

LOS ANGELES (AP) — Activision Blizzard has agreed to pay about $54 million to settle discrimination claims brought by California’s civil rights agency on behalf of women employed by the video game maker.The settlement, which is subject to court approval, resolves allegations that the maker of Call of Duty, Overwatch, World of Warcraft and other video games “discriminated against women at the company, including denying promotion opportunities and paying them less than men for doing substantially similar work,” the California Civil Rights Department announced late Friday.Allegations of workplace discrimination helped drag down Activision’s stock price in 2021, paving the way for Microsoft’s eventual takeover bid in January 2022. The software giant, which owns the Xbox gaming system, closed its $69 billion deal to buy Activision in October after fending off global opposition from antitrust regulators and rivals.California’s civil rights agency sued Santa Monica-based ...

Quaker Oats recalls granola products due to salmonella risk

Published Wed, 26 Feb 2025 18:18:06 GMT

WICHITA, Kan. (KSNW) — Quaker Oats Company is recalling of some granola bars and cereals due to a possible salmonella contamination.You can view the entire list below, or click here for the information from Quaker Oats. According to the recall, the products were sold throughout all U.S. states, in addition to areas of Puerto Rico. Customers who have these items should dispose of them immediately and visit quakergranolarecall.com for information and/or reimbursement. ‘Wonka’ review: Timothée Chalamet becomes a movie star According to the FDA, people infected with salmonella can experience fever, diarrhea, nausea, vomiting, and abdominal pain. In rare instances, salmonella infection can result in bloodstream contamination — producing more severe illnesses, including arterial infections (i.e., infected aneurysms), endocarditis, and arthritis.Quaker says it has received no confirmed reports of illness related to the products covered by this recall at this time.Recalled products:Produc...

Cold tonight, but up near 70º for Sunday

Published Wed, 26 Feb 2025 18:18:06 GMT

AUSTIN (KXAN) -- After a gorgeous Saturday we'll see the wind back off tonight and temperatures drop.Overnight lows will be in the 30s for most areas. It's possible parts of the Hill Country could see a freeze by the time the sun is rising Sunday morning. Currently we expect lows in the Austin Metro to be cold enough for patchy frost, but not a freeze.Sunday morning lowsAs winds start to shift to the west and southwest on Sunday we'll see a nice temperature bump with highs in the upper 60s and low 70s to wrap up the weekend. Skies will be mostly sunny with some passing high clouds.Sunday's forecastA weak cold front will knock temperatures down a few degrees on Monday and Tuesday before we're back up near 70º for the rest of the week.Thicker clouds return Tuesday and Wednesday. A strong Pacific storm will bring increasing rain chances to Central Texas late in the week and into next weekend. Pacific Storm could bring Central Texas rain late next weekWe could be looking at several days...

Wild top Canucks in shootout for third straight win

Published Wed, 26 Feb 2025 18:18:06 GMT

Filip Gustavsson stopped 36 shots in regulation, and all three shots he faced in the shootout as the Wild won for the third straight time, beating the Vancouver Canucks 2-1 on Sunday afternoon at Xcel Energy Center.Mats Zuccarello scored the only shootout goal for either team.Freddy Gaudreau scored in regulation for the Wild, who improved to 7-2-0 under head coach John Hynes — and have earned four points in two games without their injured top defensemen, Jonas Brodin and Jared Spurgeon. The Wild beat Calgary, 3-2, in a shootout on Thursday.As they did Dec. 7 at Vancouver, the Wild played a strong first period. This time, however, they took a one-goal lead into the second intermission instead of a one-goal deficit (on the way to a 2-0 loss at Rogers Arena).Charging the crease on a rush, Gaudreu tipped in a deadeye pass from Marcus Foligno — streaking down the right half boards — past DeSmith for a 1-0 lead with 1:55 left in the first period.Pat Maroon had the second assist, his 300th...