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Bank of England raises its key interest rate to a new 15-year high to fight inflation

Published Tue, 25 Feb 2025 02:24:11 GMT

LONDON (AP) — The Bank of England raised its main interest rate Thursday to a fresh 15-year high as it tries to bring down persistently high inflation, poised to bring more pain to people who are seeing rents and mortgages rise during a cost-of-living crisis.The quarter-percentage point increase to 5.25%, which was widely anticipated by economists, was the central bank’s 14th hike in a row. The bank saidsome of the risks from more stubborn inflation, notably higher wages, had “begun to crystallise,” leading it to push borrowing costs higher.There had been fears, certainly among hard-pressed households and businesses, that the bank would repeat its outsized half-point increase from June. But figures last month showing that inflation fell more than anticipated to 7.9% eased the pressure to act as aggressively again. “Inflation is falling and that’s good news,” Bank Gov. Andrew Bailey said. “We know that inflation hits the least well off the hardest, and we need to make absolutely sure...

Maple Leaf Foods reports $53.7M net loss in Q2 as company faces inflationary pressure

Published Tue, 25 Feb 2025 02:24:11 GMT

MISSISSAUGA, Ont. — Maple Leaf Foods Inc. says it lost $53.7 million in its most recent quarter as it grappled with inflation and other market headwinds.The Mississauga, Ont.- based food company’s net loss for the second quarter amounted to 44 cents per basic share compared with a net loss of $54.6 million or 44 cents per basic share a year earlier.Adjusted earnings for the period ended June 30 were $45.9 million compared with $23.6 million in the second quarter of last year.Sales in the quarter totalled $1.26 billion, up from $1.19 billion a year prior.Its meat business alone contributed the bulk of those sales, though Maple Leaf says its plant protein division made $36.7 million in sales during the quarter.The financial results come a day after the company’s board approved a quarterly dividend of 21 cents per share and 84 cents per share on an annual basis.This report by The Canadian Press was first published Aug. 3, 2023.Companies in this story: (TSX:MFI)The Canadian ...

Hundreds rally in Niger, denouncing France, as the country’s new junta seeks to justify its coup

Published Tue, 25 Feb 2025 02:24:11 GMT

NIAMEY, Niger (AP) — Hundreds of people rallied in support of Niger’s ruling junta in the capital on Thursday, denouncing France and others who have criticized a recent coup — as the country’s military leaders sought to exploit anti-Western sentiment to shore up their takeover.As numbers began to swell at a demonstration organized by the junta and civil society groups on Niger’s independence day, protesters in Niamey pumped their fists in the air and chanted out support for neighboring countries that have also seen military takeovers in recent years. Some waved Russian flags, and one man brandished a Russian and Nigerien flag sewn together.Last week’s coup toppled President Mohamed Bazoum — whose ascendency marked Niger’s first peaceful, democratic transfer of power since its independence from France. It has been accompanied by strident anti-French sentiment and raised questions about the future of the fight against extremism in Africa’s Sahel region, where R...

The extreme heat in Phoenix is withering some of its famed saguaro cactuses, with no end in sight

Published Tue, 25 Feb 2025 02:24:11 GMT

PHOENIX (AP) — After recording the warmest monthly average temperature for any U.S. city ever in July, Phoenix climbed back up to dangerously high temperatures Wednesday. That could mean trouble not just for people but for some plants, too.Residents across the sprawling metro are finding the extended extreme heat has led to fried flora, and have shared photos and video of their damaged cactuses with the Desert Botanical Garden. Nurseries and landscapers are inundated with requests for help with saguaros or fruit trees that are losing leaves.Phones have been “ringing nonstop” about everything from a cactus to a citrus tree or ficus, said Sophia Booth, a landscape designer at Moon Valley Nursery, which has nearly a dozen locations across the Phoenix suburbs.“A lot of people are calling and saying their cactus is yellowing really hard, fell over or like broken arms, that sort of thing,” Booth said. “Twenty-year-old trees are losing all their leaves, or they’re turning a crisp brown.”Sh...

6 months after the East Palestine train derailment, Congress is deadlocked on new rules for safety

Published Tue, 25 Feb 2025 02:24:11 GMT

WASHINGTON (AP) — Congress responded to the fiery train derailment in eastern Ohio earlier this year with bipartisan alarm, holding a flurry of hearings about the potential for railroad crashes to trigger even larger disasters. Both parties agreed that a legislative response was needed.Yet six months after life was upended in East Palestine, little has changed. While President Joe Biden and former President Donald Trump have praised a railroad safety bill from Ohio Sens. Sherrod Brown, a Democrat, and JD Vance, a Republican, the Senate proposal has also encountered resistance. Top GOP leaders in Congress have been hesitant to support it, and the bill has faced some opposition from the railroad industry, which holds significant sway in Washington. As a result, it remains an open question whether the derailment that shattered life in East Palestine will become a catalyst for action. And for Republicans, the fight poses a larger test of political identity, caught between their traditio...

Woman killed, 3 injured — including toddler — in shooting on South Side

Published Tue, 25 Feb 2025 02:24:11 GMT

CHICAGO — A woman has died, while 3 others remain hospitalized after a shooting on Chicago's South Side Wednesday evening.According to the Chicago Police Departments, officers responded to on the 1200 block of West 81st Street in the Auburn Gresham neighborhood on reports of a shooting just before 3:15 p.m. on Wednesday. VIDEO: School bus crashes into home on Northwest Side CPD reported that four victims were standing on the sidewalk on the 1200 block of West 81st Street when a Black vehicle with multiple suspects exited the car and began shooting.A 29-year-old man was shot in the foot and reportedly taken to a local hospital in good condition. Also, a 2-year-old boy was also shot in the foot and hospitalized in fair condition.A 62-year-old male reportedly was shot in the back and hospitalized in stable condition.CPD also reported that a 23-year-old woman was also shot multiple times and she was transported to a local hospital where she was later pronounced dead.No suspects have b...

Thursday Forecast: Temps in upper 80s with humid conditions

Published Tue, 25 Feb 2025 02:24:11 GMT

CHICAGO — Mainly sunny Thursday with humid conditions. Cooler lakeside, Winds: W 0-5. High: 88/83. Interactive Radar: Track showers and storm here Partly cloudy tonight. Winds: SE 0-5. Low: 71.Friday Forecast: Partly cloudy with a 20% thunderstorm chance. Cooler lakeside. Winds: NE 5-10. High: 86/79. Interactive Radar: Track showers and storm here

Waves rise 13 feet tall in California amid global warming: research

Published Tue, 25 Feb 2025 02:24:11 GMT

SAN DIEGO (AP) — Waves are getting bigger and surf at least 13 feet (about 4 meters) tall is becoming more common off California’s coast as the planet warms, according to innovative new research that tracked the increasing height from historical data gathered over the past 90 years.Oceanographer Peter Bromirski at Scripps Institution of Oceanography used the unusual method of analyzing seismic records dating back to 1931 to measure the change in wave height.When waves ricochet off the shore, they collide with incoming waves and cause a ripple of energy through the seafloor that can be picked up by seismographs designed to detect earthquakes. The greater the impact, the taller the wave is.Until now, scientists relied on a network of buoys by the National Oceanic and Atmospheric Administration that collect data on wave height along U.S. coasts, but that data along the California coast only went back to 1980.“Until I stumbled upon this data set, it was almost impossible to make that co...

How Bud Light lost its crown

Published Tue, 25 Feb 2025 02:24:11 GMT

(The Hill) - Bud Light has been locked for months in a contentious dispute with its consumer base over a brief partnership with transgender influencer Dylan Mulvaney that has cost the brand and its parent company, Anheuser-Busch, billions in market value.The brewing giant this week said it plans to lay off hundreds of U.S. corporate employees in an announcement that was celebrated by conservative leaders who have voiced opposition to Bud Light’s partnership with Mulvaney and the expansion of transgender rights more broadly. The company did not mention Mulvaney or the ongoing controversy in its announcement.Mulvaney, a transgender influencer who has shared her transition journey with followers online, in April shared a sponsored post to her Instagram page promoting Bud Light’s annual March Madness sweepstakes, kicking off a deluge of conservative criticism over the company’s partnership with an openly transgender woman.Right-wing celebrities, media perso...

After years of delays, Ken Paxton to appear in court in securities fraud case hearing

Published Tue, 25 Feb 2025 02:24:11 GMT

HARRIS COUNTY, Texas (Nexstar) — After eight years of delays and a change in venue, suspended Attorney General Ken Paxton is set to appear in a Harris County court Thursday morning in a securities fraud case against him.Paxton faces felony charges and is accused of defrauding investors in a tech startup after being indicted in 2015.Last month in a 6-3 ruling, the Texas Court of Criminal Appeals decided the case should remain in Houston, settling a key issue in the case as Paxton faces an impeachment trial in the Texas Senate next month. His case originally was in Collin County, where Paxton lives, but the trial judge there had lost jurisdiction over the case. Ken Paxton to appear in court in securities fraud case hearing Shortly after the Republican was first elected to the Office of Attorney General, a Collin County grand jury indicted Paxton in 2015 on two counts of securities fraud — a first-degree felony with a punishment of up to 99 years in prison — and one count ...