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Business Highlights: More rate hikes possible, Fed’s Powell says; Tax preparers under fire

Published Sat, 22 Feb 2025 11:00:52 GMT

___Economy’s solid growth could require more Fed hikes to fight inflation, Powell says at Jackson HoleJACKSON HOLE, Wyoming (AP) — The continued strength of the U.S. economy could require further interest rate increases, Federal Reserve Chair Jerome Powell said in a closely watched speech that also highlighted the uncertain nature of the economic outlook. Powell noted that the economy has been growing faster than expected and that consumers have kept spending briskly — trends that could keep inflation pressures high. Speaking at an annual conference of central bankers in Jackson Hole, Wyoming, Powell reiterated the Fed’s determination to keep its benchmark rate elevated until inflation is reduced to its 2% target. “Although inflation has moved down from its peak — a welcome development — it remains too high,” he said.___ECB’s Lagarde says interest rates to stay high as long as needed to defeat inflationJACKSON HOLE, Wyoming (AP) — Interest rates in the European Union will need to st...

Thief steals former governor’s SUV as he hosts a radio show

Published Sat, 22 Feb 2025 11:00:52 GMT

FARGO, N.D. (AP) — Former North Dakota Gov. Ed Schafer learned a lesson about his car keys after his vehicle was stolen as he hosted a Fargo radio show. Schafer was guest hosting KFGO’s “News and Views” program Friday morning when police called the station to ask if he owned a 2020 GMC Yukon, the station reported. It turns out that the SUV had been stolen out of the station’s parking lot. The thief apparently drove it to a probation office and surrendered to authorities, Schafer said. The vehicle has a push-button start feature and requires a key fob to be in the vehicle before it can be operated. But Schafer had left a spare fob inside, enabling the thief to start it up and drive off.The former governor and U.S. agriculture secretary says he’s been warned about being more careful. “My wife for 31 years has said, ‘Why don’t you lock your car?’” Schafer said.Source

Virginia lawmakers say they have deal on ‘major components’ of budget, including rebates, tax cuts

Published Sat, 22 Feb 2025 11:00:52 GMT

Virginia Gov. Glenn Youngkin, center, arrives to deliver his State of the Commonwealth address before a joint session of the Virginia General Assembly in the House chambers at the Capitol Monday, Jan. 17, 2022, in Richmond, Va. (AP Photo/Steve Helber)(AP/Steve Helber) Virginia Gov. Glenn Youngkin, center, arrives to deliver his State of the Commonwealth address before a joint session of the Virginia General Assembly in the House chambers at the Capitol Monday, Jan. 17, 2022, in Richmond, Va. (AP Photo/Steve Helber)(AP/Steve Helber) RICHMOND, Va. (AP) — The Virginia legislators who have been leading negotiations over the months-delayed state budget announced Friday they have reached agreement on the “major componen...

A Marine Corps pilot has died in the crash of a combat jet near a military air station in San Diego

Published Sat, 22 Feb 2025 11:00:52 GMT

SAN DIEGO (AP) — A Marine Corps pilot was confirmed dead Friday after the crash of a combat jet near a San Diego base, the service said in a statement.The F/A-18D Hornet went down at 11:54 p.m. Thursday near Marine Corps Air Station Miramar and searchers recovered the pilot at the site, the 2nd Marine Aircraft Wing said in a statement from its headquarters in Cherry Point, North Carolina.The pilot was the only person aboard the jet, identified as part of Marine All-Weather Fighter Attack Squadron 224. The squadron is based at MCAS Beaufort, South Carolina.The identity of the pilot will not be released until 24 hours after all next-of-kin notifications have been completed, the Marine Corps said. A Miramar statement said earlier that the aircraft was not part of its resident air wing but was operating from the air station. The crash site was described as government property east of the air station. The site about 10 miles (16 kilometers) north of downtown San Diego is an area of large...

Daniel Ricciardo to miss Dutch GP after fracturing his hand in a crash during practice

Published Sat, 22 Feb 2025 11:00:52 GMT

ZANDVOORT, Netherlands (AP) — AlphaTauri driver Daniel Ricciardo will miss this weekend’s Dutch Grand Prix after fracturing his left hand Friday in a crash during practice ahead of the Formula One race. The 34-year-old Australian was injured when he crashed into the barriers during the second practice in Zandvoort and was taken to a hospital for evaluation.AlphaTauri said Ricciardo fractured a bone in his left hand and will be replaced by reserve driver Liam Lawson, a 21-year-old New Zealander who is set to make his F1 debut. Lawson finished third in the F2 championship last year.Ricciardo, an eight-time Grand Prix winner, was axed by McLaren at the end of last year but returned to F1 last month to replace Nyck de Vries for the rest of the season. The second practice session was suspended after just 10 minutes when McLaren driver Oscar Piastri and Ricciardo crashed at the same corner of the high-banking Zandvoort track by the seaside.Piastri lost control of his McLaren through Turn ...

How major US stock indexes fared Friday, 8/25/2023

Published Sat, 22 Feb 2025 11:00:52 GMT

Wall Street closed higher, breaking a 3-week losing streak, after the head of the Federal Reserve said it will “proceed carefully” as it decides what to do with interest rates. The S&P 500 rose 0.7% Friday after flipping between small gains and losses a few times. The Dow added 247 points, and the Nasdaq composite rose 0.9%. In a highly anticipated speech, Fed Chair Jerome Powell said again that it will make upcoming decisions on interest rates based on what incoming data reports say about inflation and the economy. On Friday:The S&P 500 rose 29.40 points, or 0.7%, to 4,405.71.The Dow Jones Industrial Average rose 247.68 points, or 0.7%, to 34,346.90.The Nasdaq composite rose 126.67 points, or 0.9%, to 13,590.65.The Russell 2000 index of smaller companies rose 7.35 points, or 0.4%, to 1,853.63.For the week:The S&P 500 is up 36 points, or 0.8%.The Dow is down 153.76 points, or 0.4%.The Nasdaq is up 299.87 points, or 2.3%.The Russell 2000 is down 5.79 points, or 0.3%.For t...

Lyles makes it 2 for 2, and Jamaica’s Jackson runs second-fastest time ever in 200

Published Sat, 22 Feb 2025 11:00:52 GMT

Noah Lyles, of the United States, smiles after the finish in the Men's 200-meters semifinal during the World Athletics Championships in Budapest, Hungary, Thursday, Aug. 24, 2023. (AP Photo/Martin Meissner)(AP/Martin Meissner) Noah Lyles, of the United States, smiles after the finish in the Men's 200-meters semifinal during the World Athletics Championships in Budapest, Hungary, Thursday, Aug. 24, 2023. (AP Photo/Martin Meissner)(AP/Martin Meissner) BUDAPEST, Hungary (AP) — Noah Lyles won the 200-meter world title Friday in 19.52 seconds, becoming the first man to complete the 100-200 sprint double at worlds since Usain Bolt did it for the third and final time back in 2015.It was Lyles’ third straight world champi...

Hickenlooper joins SAG-AFTRA workers for Denver rally

Published Sat, 22 Feb 2025 11:00:52 GMT

DENVER (KDVR) - Actors and writers are still on strike as negotiations between the workers and production studios continue, but the fight goes far beyond Hollywood.Entertainers and community members alike are asking for better wages and protections in the film and entertainment industry. Denver Broncos unveil $100M in stadium upgrades, new food Like workers in so many industries, the Screen Actors Guild and American Federation of Television and Radio Artists members from the entertainment industry are rallying, urging studios to pay workers their fair share."It's just corporate versus the little man. It doesn't matter where you are at, if you're a mailman, whatever labor union you are in, we are fighting for everybody in this point in time," Sonny G., president of SAG-AFTRA Colorado Local, said. "And it's been coined with the phrase as 'the summer of strikes' among labor unions, and we are one among the AFL-CIO, and we are just so happy that we have a good turnout from everybody a...

Marlins wrap up back-to-school supply distributions at Kensington Park Elementary in Miami

Published Sat, 22 Feb 2025 11:00:52 GMT

Star players from the Miami Marlins stars paid a special visit to some future All-Stars.The team on Friday wrapped up their back-to-school supply distributions at Kensington Park Elementary.The Marlins partnered with PNC Bank and the Kiwanis of Little Havana to provide more than 10,000 elementary school students in Miami-Dade and Palm Beach counties with much-needed resources.“When I was growing up, I remember this time of the year and being excited to go back to school with all my friends,” said Marlins player Jake Burger, “so it’s just awesome, you know, helping as many kids as we’re helping.”“At a school, we can’t do it all ourselves, so when we have community members that are willing to partner alongside us, it benefits the community, it benefits the program, and it benefits the students and families, so we’re very grateful,” said Michelle Hernandez, the school’s principal.The Marlins have hosted a total of eight ...

Newly released photos raise concerns in fatal 2022 Labor Day weekend boat crash involving alleged alcohol presence

Published Sat, 22 Feb 2025 11:00:52 GMT

Nearly three weeks after George Pino, the driver of a 29-foot Robalo vessel, was charged with misdemeanors related to a 2022 Labor Day weekend boat crash, newly released photos have brought unsettling revelations for the families impacted by the tragedy.The Miami Herald obtained images from the Florida Fish and Wildlife Conservation Commission revealing more than 60 cans and bottles of alcoholic beverages, including Bud Lights, Truly Hard Seltzers and Coronas, found aboard the vessel. Additionally, an empty Champagne bottle and a partly consumed liquor bottle were also discovered. The incident took place during the 2022 Labor Day weekend when the boat collided with a channel marker in Biscayne Bay near the Upper Keys, resulting in the ejection of 12 passengers, including Pino and his wife.Tragically, the crash claimed the life of 17-year-old Lucy Fernandez and left 18-year-old Katy Puig permanently disabled. Both young women were seniors at Lourdes Academy in Southwest Miami-Dade.Co...