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US jobless claims fall again as labor market continues to flash strength

Published Wed, 26 Feb 2025 21:37:47 GMT

Fewer Americans applied for unemployment benefits last week with the labor market continuing to cruise along despite higher interest rates intended to cool hiring. U.S. applications for jobless claims fell by 9,000 to 228,000 for the week ending July 15, from 237,000 previous week, the Labor Department reported Thursday.The four-week moving average of claims, which evens out some of the weekly volatility, fell by 9,250 to 237,500.Jobless claim applications are viewed as reflective of the number of layoffs in a given week.For three weeks in late May and early June, jobless claims had appeared to reach a sustained, higher level, above 260,000. But the past four weeks, claims have retreated and the labor market remains historically healthy.Since more than 20 million jobs vanished when the COVID-19 pandemic hit in the spring of 2020, U.S. employers have added jobs at a blistering pace, more often than not beating forecasts. Despite the fastest interest rate hikes since 1989, the unemplo...

Britain says it was ‘regrettable’ that the EU called the Falklands by Argentina’s preferred name

Published Wed, 26 Feb 2025 21:37:47 GMT

LONDON (AP) — The British government said Thursday that the European Union made a “regrettable choice of words” when it referred to the U.K.-run Falkland Islands as the Malvinas, the name preferred by Argentina.A declaration from an EU-Latin America summit on Tuesday referred to the South Atlantic archipelago as ”the Islas Malvinas/Falkland Islands.” That was hailed as a diplomatic triumph by Argentina, which has long claimed the islands.It was seen by some in the U.K. as a snub to Britain, which left the EU in 2020 and was not at the summit to make its case.Max Blain, spokesman for Prime Minister Rishi Sunak, said EU officials had since “clarified their position.”He said “it would have been entirely unacceptable for the EU to question the Falkland Islanders’ right to decide their own future.”“To be clear, the Falkland Islands are British, that was the choice of the islanders themselves. The EU has rightly now clarified that their position on the Falklands has not changed after thei...

Major fire near Athens contained but Europe’s heat wave keeps authorities on alert

Published Wed, 26 Feb 2025 21:37:47 GMT

ATHENS, Greece (AP) — Greece’s Fire Service intensified water drops west of Athens where a huge blaze was contained overnight, as authorities braced Thursday for a new round of extreme weather.Seven firefighting planes and nine helicopters were operating in the area, including four planes sent from Italy and France as part of a European Union support mechanism.Searing heat across Europe’s Mediterranean south has maintained a high or very high risk of fires in Spain, Italy and Greece. Greek Prime Minister Kyriakos Mitsotakis said the Fire Service and civil protection authority would remain on alert as a new heat wave moved eastward across Greece. Temperatures are expected to reach 45 degrees Celsius (113F) Sunday.“The hard times are clearly not over yet,” Mitsotakis said. “We are facing another heat wave and a possible strengthening of the winds. So, absolute vigilance and absolute readiness are required over the next few days.”A state of emergency was declared Thursday on the island...

At least 2 dead as Russia aims ‘retaliatory’ strikes at southern Ukraine cities for a third night

Published Wed, 26 Feb 2025 21:37:47 GMT

KYIV, Ukraine (AP) — Russia pounded Ukraine’s southern cities Thursday with drones and missiles for a third consecutive night, targeting some of the country’s critical grain export infrastructure and helping to drive up food prices in countries facing hunger.At least two people in the besieged port city of Odesa were killed in the strikes, which came days after President Vladimir Putin pulled Russia out of a wartime deal that allowed Ukraine to send grain to some needy countries. The attacks came after Moscow vowed “retribution” earlier this week for an attack that damaged a crucial bridge between Russia and the Moscow-annexed Crimean Peninsula. Russian officials blamed that strike on Ukrainian drone boats.Odesa Gov. Oleh Kiper said Ukrainian air defenses destroyed all of the 12 Iranian-made Shahed drones and two Kalibr missiles that targeted Odesa. But he added that air defense systems were unable to shoot down some incoming missiles, in particular the X-22 and Onyx types. He didn&...

Tesla recalling nearly 16,000 of its 2021-2023 Model S and Model X vehicles due to seat belt issue

Published Wed, 26 Feb 2025 21:37:47 GMT

Tesla is recalling nearly 16,000 of its 2021-2023 Model S and Model X vehicles because some front-row seat belts may not have been reconnected properly after being repaired.Tesla said in its safety recall report that in the vehicles, a first-row seat belt was disconnected from its pretensioner anchor as part of a necessary step to perform a repair. But the seat belt may not have been reconnected to its pretensioner anchor properly after the repair was made. The company said that if the seat belt isn’t reconnected properly, it may not perform as it’s supposed to in a collision, which may increase the risk of injury. U.S. highway safety regulators opened an investigation into possible Tesla seat belt issues in March. As of June 19, Tesla has identified 12 warranty claims related to the issue, but the company is not aware of any crashes, injuries or deaths that may be related to the seat belt issue. Notification letters will be mailed to owners who have vehicles related to ...

Beach closures because of contamination prevent sunbathers from taking a dip to beat the heat

Published Wed, 26 Feb 2025 21:37:47 GMT

Many sunbathers who want to take a dip in the cool water to escape the summer heat are being thwarted by high bacteria levels in water at popular beaches across New England.The Massachusetts Department of Public Health reported that 78 public beaches were closed Wednesday, mostly because of high levels bacteria. Nearly a dozen beaches and bodies of water in New Hampshire were also under some sort of advisory. In Maine, eight beaches were closed because of contamination. There was no swimming at 10 state parks in Vermont.Most of the closures were because of high levels of E. coli associated with waste. Others were for algae blooms, some of which can be toxic.Some of the high levels of bacteria in lakes and ponds can be linked to heavy rainfall that caused flooding and contamination, including agricultural runoff. That’s also contributing to problems in coastal waters.Swimming in contaminated water can cause problems skin rashes to gastrointestinal and respiratory issues. Enviro...

Stock market today: Early trading mixed but Dow appears primed to extend incredible streak

Published Wed, 26 Feb 2025 21:37:47 GMT

TOKYO — Trading is mixed before the opening bell Thursday with more corporate earnings reports incoming and new data on jobs in the U.S. and housing. Futures for the S&P 500 slipped 0.2% before the bell, while the Dow Jones Industrial Average was up 0.1% and could extend its longest winning streak since 2019. Earnings season is picking up momentum in its second week. Wall Street analysts expect a third straight quarter of weaker earnings from S&P 500 companies, but that lowered bar makes it easier for companies to beat expectations and many, particularly banks, already have. Shares in American Airlines dipped 1.3% in premarket, even as the carrier beat Wall Street sales and profit targets and raised its forecast for the rest of the year. Johnson & Johnson shares are up a bit after profits and revenue topped Wall Street expectations. Discover Financial slid more than 12% after it disclosed that it was working with regulators to resolve an accounting error dating back to 2...

Turkey hikes interest rates in another sign of economic normalcy. But markets expected more

Published Wed, 26 Feb 2025 21:37:47 GMT

ISTANBUL (AP) — Turkey’s central bank raised its key interest rate Thursday, another sign of commitment to a traditional path of battling inflation but still falling below expectations after critics blamed President Recep Tayyip Erdogan’s economic policies for inflaming a cost-of-living crisis.The 2.5 percentage point hike — putting the rate at 17.5% — came a month after the bank unleashed a 8.5% increase, a reversal after more than a year of rate-cutting prompted by Erdogan.He believes lowering interest rates fights inflation, contradicting traditional economic theory that says the opposite. Central banks around the world have been hiking rates rapidly to battle spikes in consumer prices following the pandemic and Russia’s war in Ukraine, but Turkey’s bank started cutting rates in late 2021.Since winning reelection in May, Erdogan has signaled a return to conventional policies by appointing two internationally respected economists to key positions.Former Merrill Lynch b...

EU climate chief Frans Timmermans says he wants to lead combined center-left bloc in Dutch elections

Published Wed, 26 Feb 2025 21:37:47 GMT

THE HAGUE, Netherlands (AP) — European Union climate chief Frans Timmermans said Thursday he wants to lead a combined campaign by two center-left parties that are joining forces ahead of Dutch parliamentary elections in late November.Timmermans is a vice president of the EU’s executive commission in charge of climate policy. He told Dutch national broadcaster NOS he has put himself forward as a candidate to lead the Labor Party and Green Left into the elections. The parties agreed Monday to form a united front on the left of the splintered Dutch political landscape.Timmermans is a member of the Labor Party and a former foreign minister. He says he wants to be the next Dutch prime minister and aims to unite the increasingly polarized nation. “I think it’s time for us in the Netherlands to grow closer together again instead of growing apart. The fragmentation in politics must be countered,” he said. “We have enormous challenges — the climate crisis, nature is not in good s...

77-year-old woman found dead in her Burbank home; death ruled homicide

Published Wed, 26 Feb 2025 21:37:47 GMT

BURBANK, Ill. — Police in southwest suburban Burbank are searching for a suspect after an elderly woman was found dead in her home.Police said the 77-year-old was discovered by officers around 2:45 p.m. Tuesday after a well-being check in the 8500 block of South Normandy Avenue.The medical examiner has ruled the woman's death a homicide, saying she had multiple sharp force injuries. 10-month-old baby girl found dead in Woodlawn ID’d: CPD Burbank police believe this is an isolated incident and that there is no threat to the public.No one is in custody. An investigation is underway.