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How rate hikes have sparked debate on the causes of inflation and how to fight it

Published Wed, 26 Feb 2025 10:10:25 GMT

OTTAWA — Central banks have been trying their best to convince the public that their interest rate hikes are ultimately for the greater good. But not everyone is buying it. An informal coalition of labour groups, political leaders and economists has formed over the last year and a half to challenge the very economic concepts behind monetary policy. In particular, these voices have objected to central banks’ focus on cooling the labour market, something that would ultimately mean a higher unemployment rate and lower wage growth. Economists traditionally view a hot labour market as a sign of an overheated economy and is one of the indicators central banks monitor for inflation.In the U.K., economist Ann Pettifor has argued central banks have been obsessed with crushing demand and “disciplining” workers. Meanwhile, Wharton School emeritus professor of finance, Jeremy Siegel has called the U.S. Federal Reserve’s focus on the labour market “misguided.”...

Daily horoscope for October 4, 2023

Published Wed, 26 Feb 2025 10:10:25 GMT

Moon Alert: There are no restrictions to shopping or important decisions today until 11 p.m. PDT. The Moon is in Gemini.Happy Birthday for Wednesday, Oct. 4, 2023:Sometimes you’re too inclined to put others first. (It’s wise to have a healthy self-interest.) Nevertheless, your efforts to help others are admirable. This year is playful and fun-loving! It’s time to nurture the happiness and beauty that you have within yourself. Gratitude will be important. Old friends might reappear.ARIES(March 21-April 19)★★★★Your communication skills are excellent today because not only will you be forceful and direct, you will also be charming and diplomatic. (That’s a killer combo.) You might even play the role of adjudicator or ombudsperson to others who are quarreling. Tonight: Conversations.TAURUS(April 20-May 20)★★★Financial talks will go well today, especially related to your job. Likewise, financial discussions that relate to real estate or home and family will also b...

InvestEU: €10 million support by the European Investment Bank to allow the scale-up of cancer detection technology in Poland

Published Wed, 26 Feb 2025 10:10:25 GMT

The European Investment Bank (EIB) has signed an agreement for a loan of up to €10 million with Lublin-based Polish company SDS Optic Inc., to support the development and commercialisation of its diagnostic and monitoring photonic biosensing platform. It is designed specifically to speed up cancer diagnostic time and increase precision and effects of advanced cancer treatments. The EIB investment is backed by the InvestEU programme.SDS Optic Inc. develops, produces, and commercialises diagnostics and monitoring devices, with a focus on assisting healthcare providers with faster, less painful diagnostics and targeted treatment procedures. The company merges molecular biology, advanced photonic technologies, immunochemistry, and biomedical engineering, having developed the first ever single cell resolution immunoassay for breast cancer real-time diagnostic.Economy Commissioner Paolo Gentiloni said: “With this investment backed by the InvestEU programme, we double down on our commitmen...

NextGenerationEU: Commission endorses Spain's €163 billion modified recovery and resilience plan, including a REPowerEU chapter

Published Wed, 26 Feb 2025 10:10:25 GMT

On 2 October, the Commission gave a positive assessment of Spain's modified recovery and resilience plan, which includes a REPowerEU chapter. The plan is now worth €163 billion (€83 billion in loans and €80 billion in grants) and covers 111 reforms and 142 investments.The modified plan has a strong focus on the green transition, allocating 40% of available funds to measures that support climate objectives. The revised plan includes 30 new measures on climate action, bringing the total green contribution to €65 billion (up from €27.6 billion in the original plan). Spain's REPowerEU chapter consists of a new reform, a scaled-up investment drawing on three existing measures,and seven new investments to deliver on the REPowerEU Plan's objectives to make Europe independent of Russian fossil fuels well before 2030. These measures focus on diversifying away from fossil fuels, notably by accelerating the deployment of renewable energy, renewable hydrogen, decarbonising industry and investin...

Harriette Cole: When she acted puzzled about my marriage, it got me thinking

Published Wed, 26 Feb 2025 10:10:25 GMT

DEAR HARRIETTE: I complain too much about my marriage, and I realize now that my friends are tired of hearing about it.Related ArticlesAdvice | Harriette Cole: I’m wondering if his new wife is the reason he won’t see me Advice | Harriette Cole: People say I’m clairvoyant, but in this case it didn’t help me Advice | Harriette Cole: Why should my boss care that I’m bad at parties? Advice | Harriette Cole: I’ll never be OK with my former colleague dating my daughter Advice | Harriette Cole: Should I tell her she’s not burly enough to come on the road trip? At first, I told virtually no one, but over time, I have needed to confide in others to help myself process what I’m dealing with.The problem is that I haven’t left my husband even though my issues haven’t changed over quite a few years. One of my friends asked me the other day if I had decided t...

Miss Manners: My husband doesn’t like my strategy for dealing with his vexatious relatives

Published Wed, 26 Feb 2025 10:10:25 GMT

DEAR MISS MANNERS: Some members of my husband’s family are always late. Because of this, we have ended up sitting in restaurants for over half an hour, waiting outside a theater, missing the beginning of tours or excursions, going to their place for Sunday dinner at 6 but not eating until 8, etc.Related ArticlesAdvice | Miss Manners: Don’t they know it’s an insulting thing to say to the bride? Advice | Miss Manners: At what age should one start picking up the tab? Advice | Miss Manners: Am I out of line in asking people not to hide during video meetings? Advice | Miss Manners: I confronted the bride about the exclusion, and she got defensive Advice | Miss Manners: I was annoyed by the fuss over the cost of my dinner The relatives who cause these situations have absolutely zero sense of time. We learned long ago not to ride with them to weddings or surprise parties.To get around this, I ...

California condors spotted near Mount Diablo, Morgan Territory

Published Wed, 26 Feb 2025 10:10:25 GMT

By Tony Hicks | Bay City NewsWinged visitors alien to the area have been casting their large shadows over Contra Costa and Stanislaus counties.Representatives for the preservation group Save Mount Diablo said they have tracked the paths of six California condors soaring through the skies above Round Valley and Morgan Territory regional preserves, with one even flying a mile or two west of Mount Diablo’s summit.“This is amazing news,” said Seth Adams, Save Mount Diablo’s land conservation director. “This is the first flock of California condors to visit Contra Costa in 100 years, and the first record of one flying west of Diablo’s peaks.”Adams said he’s been “chasing condors” for 40 years, since the recovery program began.In the 1970s, biologists found only a few dozen condors remained in the wild. Lead poisoning in dead animals shot with human-made bullets has been a major factor in the condors’ decline. Condors are s...

Lawsuits target Maryland’s juvenile justice system with claims of child sex abuse

Published Wed, 26 Feb 2025 10:10:25 GMT

They were told that no one would believe their claims of sexual abuse.Now, four law firms are representing 50 plaintiffs in cases alleging that from 1962 through 2012, dozens of juveniles — one as young as 7 years old — were sexually assaulted at six facilities in the Maryland juvenile justice system.Sharon Iskra is a partner at Bailey Glasser, one of the four law firms that filed suit.Iskra handles cases of institutional abuse, from group homes to foster care — “anywhere where vulnerable people are victimized,” she told WTOP.The suits come just as Maryland’s new law eliminating the statute of limitations in cases of child sex abuse went into effect. Previously, anyone who wanted to sue for damages in abuse cases had to file by the time they were 38. One of the clients represented by Iskra’s firm is 68 and the abuse in his case dates back to 1962, said Iskra.“He finally has a remedy,” she said.Iskra said while there are 50 plaintiffs now, “We have another 350 or so who’ve called us ...

Strife-torn Myanmar wins first medal at Asian Games. China continues dominance with more than 300

Published Wed, 26 Feb 2025 10:10:25 GMT

HANGZHOU, China (AP) — Strife-torn Myanmar won its first medal at the Asian Games in China on Wednesday, beating Indonesia to take home gold in men’s sepaktakraw, a popular regional sport also known as kick volleyball. The Southeast Asian nation took two straight sets from Indonesia in the sport with similarities to volleyball, but played only with the feet, knees, head and chest. Myanmar has been overwhelmed by violence since the military seized power in February 2021 from the democratically elected government of Aung San Suu Kyi. The takeover triggered mass nonviolent protests nationwide and the military and police responded with deadly force. That gave rise to armed resistance, which has since turned into what U.N. experts have characterized as a civil war.In comments after the sepaktakraw win, Burmese player Tun Thant Zin said the team was dedicating the gold medal “to our people back home.”“This is our first gold medal in Hangzhou,” he said. “It has been very diffic...

Las reservas de munición occidentales están al “fondo del barril” mientras la guerra en Ucrania se prolonga, advierte un funcionario de la OTAN

Published Wed, 26 Feb 2025 10:10:25 GMT

(CNN) — Los ejércitos occidentales se están quedando sin municiones para dárselas a Ucrania, advirtieron este martes funcionarios británicos y de la OTAN, mientras instaban a las naciones del bloque a aumentar la producción para “mantener a Ucrania en la lucha contra los invasores rusos”.La noticia de una posible escasez de municiones llega después de que el dinero para comprar armas para Ucrania no fuera incluido en un proyecto de ley de gasto provisional que el Congreso de Estados Unidos aprobó el fin de semana para evitar un cierre del Gobierno federal.Nueva incertidumbre sobre el futuro de la ayuda estadounidense surgió este martes cuando el presidente de la Cámara de Representantes, Kevin McCarthy, que abogaba por el apoyo a Ucrania, fue destituido de su posición de liderazgo por colegas republicanos.Los acontecimientos son noticias preocupantes para Ucrania, ya que la guerra con la vecina Rusia está en su vigésimo mes y plantea dudas sobre si Moscú puede sentirse capaz d...