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Stock market today: Wall Street is mixed after inflation report

Published Wed, 26 Feb 2025 14:05:08 GMT

NEW YORK (AP) — Wall Street is mixed on Wednesday after a report showed inflation is making strides toward easing, even if it remains too high. The S&P 500 was 0.2% higher in midday trading after giving up most of an earlier gain. The Dow Jones Industrial Average was down by 104 points, or 0.3%, at 33,457, as of noon. Eastern time, and the Nasdaq composite was 0.7% higher. Bond prices climbed after the highly anticipated report said inflation at the consumer level edged down to 4.9% last month, its lowest level in two years. That was slightly better than economists expected, and other underlying measures of inflation also came in very close to forecasts. Because the inflation data was roughly as expected, Wall Street sees the door still open for the Federal Reserve to leave interest rates alone at its next meeting in June. That would be the first time it hasn’t raised rates at a meeting in more than a year, and a pause would offer some breathing room for the economy and financia...

UK ditches post-Brexit plan to scrap thousands of EU laws by year’s end

Published Wed, 26 Feb 2025 14:05:08 GMT

LONDON (AP) — Britain’s bonfire of European Union laws has been reduced to embers.The U.K. government on Wednesday scrapped a plan to remove all remaining EU laws, about 4,000 in all, from British statute books by the end of this year — a post-Brexit goal that critics said was rash and unachievable.Business Secretary Kemi Badenoch said in a written statement that the government would instead draw up a list of about 600 specific laws that would be revoked. Badenoch acknowledged there were “risks of legal uncertainty” if all EU laws were ditched by the end of the year.A lawmaker from the opposition Labour Party, Jenny Chapman, called the announcement “a humiliating U-turn from a weak and divided government.”Thousands of pieces of EU law were cut-and-pasted into U.K. legislation when Britain left the bloc in 2020 after decades of membership, to ensure continuity for people and businesses.The government’s Retained EU Law Bill would have automatically removed all of them at the end...

The US has approved $42 billion in loan forgiveness for public service workers. Here’s what to know

Published Wed, 26 Feb 2025 14:05:08 GMT

The U.S. has approved more than $42 billion in federal student loan debt forgiveness for more than 615,000 borrowers in the past 18 months as part of a program aimed at getting more people to work in public service jobs, the U.S. Department of Education said this week.The Public Service Loan Forgiveness program is open to teachers, librarians, nurses, public interest lawyers, military members and other public workers. It cancels a borrower’s remaining student debt after 10 years of public interest work, or 120 monthly payments.The program is separate from President Joe Biden’s student debt relief plan, which would wipe away or reduce loans for millions of borrowers regardless of what field they work in. The U.S. Supreme Court is currently considering whether that plan can go ahead.The Public Service Loan Forgiveness program, known as PSLF, was launched in 2007, but stringent rules meant that more than 90% of applicants were rejected, the Department of Education said in 2019.In...

Republican Virginia Attorney General Miyares defends staying out of abortion pill case

Published Wed, 26 Feb 2025 14:05:08 GMT

RICHMOND, Va. (AP) — Virginia Attorney General Jason Miyares has defended his decision not to join most of his Republican counterparts around the country in supporting a lawsuit challenging the safety and approval of the abortion medication mifepristone.In a wide-ranging interview Tuesday with The Associated Press, Miyares said he opted not to sign onto the amicus brief by 22 other Republican attorneys general earlier this year because he had concerns about whether the plaintiffs in the case had standing to sue. In response to a follow-up question from AP, Miyares said in a statement that he recognizes that the Food and Drug Administration regulates the drug and “has for many years.”“Those regulations remain operative,” he said. “I’ve taken no action regarding mifepristone.” Although Miyares said he expects the drug will remain available, he also endorsed GOP Gov. Glenn Youngkin’s ambition to restrict access to abortion procedures in Virginia at 15 weeks of p...

Customer satisfaction with Air Canada, WestJet falls below average: Survey

Published Wed, 26 Feb 2025 14:05:08 GMT

TORONTO — A new survey ranks Canada’s two biggest airlines below the average for customer satisfaction among major North American carriers.The poll, conducted by consumer analytics company J.D. Power, found that Air Canada and WestJet placed fifth and eighth, respectively, out of 11 airlines in the economy class.Both fell below the average customer satisfaction figure of 782 on a 1,000-point scale, and followed the trend of declining passenger contentment across airlines over the past two years.Michael Taylor, who heads J.D. Power’s travel segment, says pricier fares, crowded planes and fewer flights are behind the frustration — but demand remains strong nonetheless.As a result, he says carriers are yielding fatter margins this year after a pandemic-induced industry collapse, with many running at peak efficiency.The survey, carried out between March 2022 and March 2023, is based on responses from 7,774 passengers who flew on large North American airlines.This report by The Canadian ...

Flooding of Bonaparte River means more evacuation orders for Cache Creek, B.C.

Published Wed, 26 Feb 2025 14:05:08 GMT

CACHE CREEK, B.C. — The risk of flooding has prompted more evacuation orders for residents in the Village of Cache Creek, B.C., as higher temperatures quickly melt of mountain snowpacks. In his latest order, Mayor John Ranta says about two dozen more properties have to evacuate due to the immediate danger caused by flooding of the Bonaparte River.Cache Creek, about 350 kilometres northeast of Vancouver, remains under a flood warning. Last week the community dealt with rising creek waters that flowed through its firehall, flooding several homes and businesses, and temporarily closing both highways 1 and 97.The village says eight properties remain under an evacuation order from that threat and the state of local emergency has been extended until May 13.Provincial emergency officials have said that less rain than expected in the southern Interior last weekend stabilized the flood risk for a period but forecasters warn warm weather will likely trigger snowmelt and further threats later ...

Boy who suffered head injury climbing moving TTC subway dies in hospital: police

Published Wed, 26 Feb 2025 14:05:08 GMT

Toronto police say a 15-year-old boy who was critically injured after striking his head while climbing a moving TTC subway died in hospital last week.Police confirm the boy, whose identity has not been released, died on Wednesday, May 3.He suffered what police called a “catastrophic” head injury after attempting to climb a moving train at Warden Station in Scarborough on Monday, May 1 at around 6:15 p.m.Police said that while the train was in motion, the teen opened the door leading to the adjoining car and climbed up between the two.He then struck his head on an unknown object and sustained critical injuries that later proved fatal.Police have not revealed why the teen, who was with his sister and girlfriend at the time, decided to climb on top of the moving train. Police previously said there was no indication he was trying to flee from anyone.With files from Lucas Casaletto

Cubs continued struggles in one area cost them against the Cardinals

Published Wed, 26 Feb 2025 14:05:08 GMT

CHICAGO — While the team's average has been near the top of Major League Baseball all season long, there is one area the Cubs have struggled so far in the 2023 season.That's getting some timely hits and leaving players on base, which has cost them in the first two games against the Cardinals this season. In a 3-1 loss to St. Louis on Monday and then a 6-4 defeat on Tuesday, the Cubs left nine runners on base each, hindering the club's chances for a victory. Because of the two losses, the club slipped to 18-18 on the season as they approach the series finale at 6:40 p.m. on Wednesday. A special day for one Cubs fan at Wrigley Field Leaving runners on base has been an issue for the Cubs in the early part of the 2023 season, with the team leaving an average of 7.58 runners on base per game. That's the most of any team in Major League Baseball so far, according to TeamRankings.com.This comes despite the fact that the team is fifth in batting average (.266) and tenth in runs (173), wi...

See where you can help migrants arriving in Chicago

Published Wed, 26 Feb 2025 14:05:08 GMT

CHICAGO — The number of migrants arriving in Chicago has increased over the past few weeks as officials scramble to find housing on such short notice. Meanwhile, there are a few ways that you can help those who are just arriving in the city. Per 33rd Ward Alderperson Rossana Rodriguez, there are two efforts currently going on in Chicago, first with the Albany Park Mutual Aid organization. They are accepting financial donations on their website along with supplies for the migrants who are currently staying at Chicago Police 17th district station. Mayor Lightfoot issues emergency declaration over migrant arrivals Organized Communities Against Deportations is raising funds on their website for those just arriving and staying at police stations. Funds will be directly distributed to migrants for food along with other essentials like clothing, diapers, and medication. On Wednesday, 44th ward Alderperson Tom Tunney announced an effort to help those migrants that are currently at the Ch...

Wednesday Forecast: Temps near 80 with mostly sunny conditions

Published Wed, 26 Feb 2025 14:05:08 GMT

CHICAGO — Mostly sunny Wednesday with warm conditions and temperatures in the upper 70s. High: 78, Lakeside: 63. Interactive Radar: Track showers and storm here Tonight: Mostly clear tonight. Low:  54.Thursday Forecast:  Increasing clouds. High: 81, Lakeside: 67.Full forecast details and more at the WGN Weather Center blog