Home

US inflation eased slightly last month as price increases extend slow descent

Published Sat, 22 Feb 2025 04:57:55 GMT

WASHINGTON (AP) — Measures of U.S. inflation in September showed that the pace of price increases is still grinding lower, though at a slow and uneven pace.Prices in the United States increased 0.4% from August to September, a slowdown from the previous month. Thursday’s report from the Labor Department also showed that annual consumer inflation in September was unchanged from a 3.7% rise in August.And underlying inflation declined a bit: So-called core prices, which exclude volatile food and energy costs, climbed 4.1% in September from 12 months earlier, down from a 4.3% year-over-year pace in August. That is the smallest increase in the core measure in two years. Still, on a month-to-month basis, prices are still rising faster than is consistent with the Fed’s 2% target. Core prices increased 0.3% in September, the same as the previous month. Economists and Fed officials have long cautioned that inflation would likely ease in a bumpy and uneven way, though it is still expected to ...

Branson’s Virgin wins a lawsuit against a Florida train firm that said it was a tarnished brand

Published Sat, 22 Feb 2025 04:57:55 GMT

LONDON (AP) — A British judge ruled in favor of Richard Branson’s Virgin group on Thursday in its lawsuit against a U.S. train company that terminated a licensing agreement and claimed the Virgin brand was no longer one of “high repute.”Judge Mark Pelling ruled in favor of Virgin Enterprises, which had sued Florida passenger train operator Brightline Holdings for breaching an agreement to rebrand as Virgin Trains USA.The two firms struck a deal in 2018, but Brightline pulled out two years later. It came shortly after the Virgin Atlantic airline filed for bankruptcy protection in the U.S. and Virgin lost the U.K. train franchise it had held for two decades.Brightline argued that Virgin had “ceased to constitute a brand of international high repute, largely because of matters related to the pandemic.” Virgin Atlantic fought financial support from the British government after COVID-19 grounded travel.Virgin sued at the High Court in London, calling Brightline’s allegations “cynic...

Laurentian Bank makes changes to senior executive ranks

Published Sat, 22 Feb 2025 04:57:55 GMT

MONTREAL — Laurentian Bank announced a series of changes to its senior executive ranks following a shakeup that saw the appointment of Éric Provost as president and chief executive earlier this month.The Montreal-based bank says Sébastien Bélair will expand his mandate by becoming chief operating officer, which now includes oversight of product and digital development. Bélair has served as chief human resources officer since 2021 and was appointed the chief administration officer in September.Laurentian also announced that Thierry Langevin will join its executive committee as executive vice-president, commercial banking, in addition to his current role as president, LBC Capital, the bank’s equipment financing division.Sophie Boucher has been promoted to senior vice-president, head of personal banking and small-medium enterprises. She was vice-president, commercial and syndication, within the Laurentian’s commercial banking unit. Provost was named to the top job at Lauren...

Social Security benefits will increase by 3.2% in 2024 as inflation moderates

Published Sat, 22 Feb 2025 04:57:55 GMT

WASHINGTON (AP) — Millions of Social Security recipients will get a 3.2% increase in their benefits in 2024, far less than this year’s historic boost and reflecting moderating consumer prices.The cost-of-living adjustment, or COLA, means the average recipient will receive more money every month beginning in January, the Social Security Administration said Thursday.About 71 million people — including retirees, disabled people and children — receive Social Security benefits. Thursday’s announcement follows this year’s 8.7% benefit increase, brought on by record 40-year-high inflation, which pushed up the price of consumer goods. With inflation easing, the next annual increase is markedly smaller.Still, senior advocates applauded the annual adjustment.“Retirees can rest a little easier at night knowing they will soon receive an increase in their Social Security checks to help them keep up with rising prices,” AARP CEO Jo Ann Jenkins said. “We know older Americans are still ...

Bomb threat forces U-turn of Scoot plane traveling from Singapore to Perth, airline says

Published Sat, 22 Feb 2025 04:57:55 GMT

KUALA LUMPUR, Malaysia (AP) — Singapore low-cost airline Scoot said Thursday that one of its planes made a U-turn back to the city-state an hour after taking off for Perth due to a bomb threat and then landed safely.Scoot, a subsidiary of Singapore Airlines Group, said Flight TR16 departed at 4:11 p.m (0811 GMT) from Singapore’s Changi Airport with 363 passengers and 11 crew members.“About one hour into the flight, a precautionary decision was made to turn the aircraft back to Singapore due to a bomb threat,” the airline said in a statement. An air force jet was deployed to escort the plane back to the airport, and emergency services were also activated, according to Scoot. The aircraft landed safely in Singapore at 6:27 p.m. (1027 GMT) and security checks were carried out, the airline said, adding that it could not provide more details because an investigation was ongoing. “Scoot sincerely apologies for the disruption and inconvenience caused. The safety of our customers and ...

While the news industry struggles, college students are supplying some memorable journalism

Published Sat, 22 Feb 2025 04:57:55 GMT

NEW YORK (AP) — Within the past year, young journalists have produced investigations that led to the resignation of Stanford University’s president, the firing of Northwestern University’s football coach, and a school shooting graphic so striking that it led a veteran newsman to say, “I’ve never seen a better front page.”All while making sure to get their homework in on time.A news industry that has been shedding jobs as long as they’ve been alive, and the risk of harassment when their work strikes nerves hasn’t dimmed the enthusiasm of many college students — often unpaid — who are keeping the flame alive with noteworthy journalism.“At the end of the day, journalism is a public good, and it attracts people who want to do service for others,” said Theo Baker, a Stanford University sophomore whose stories about faulty scientific research prompted a university investigation and eventual resignation of Stanford’s president, Marc Tessier-Lavigne.Baker...

UN suspends and detains 8 peacekeepers in Congo over allegations of sexual exploitation

Published Sat, 22 Feb 2025 04:57:55 GMT

GOMA, Congo (AP) — The United Nations has suspended and detained eight peacekeepers in eastern Congo over allegations of sexual exploitation, a U.N. official said.A statement from the U.N. on Wednesday said it has taken “strong measures in response to reports of serious misconduct by peacekeepers.” The peacekeepers have been confined pending further details and a full investigation.According to a U.N. official, the eight peacekeepers are from South Africa and they were detained in the city of Beni in North Kivu province after being caught with prostitutes at an unauthorized bar after curfew. The official was not authorized to speak about the specifics of the case and spoke on condition of anonymity.Conflict has been simmering in eastern Congo for decades where more than 120 armed groups are fighting in the region, mostly for land and control of mines with valuable minerals, while some groups are trying to protect their communities. More than 12,000 U.N. peacekeepers operate in the c...

Does Ontario already have a two-tier health-care system?

Published Sat, 22 Feb 2025 04:57:55 GMT

In today’s Big Story podcast, if you, like millions of people in Canada — two million in Ontario alone — do not have a family doctor, the prospect of paying hundreds of dollars for the services they provide might be something you’d consider, assuming you were able to afford it. That’s the demand that has “nurse practitioner clinics” springing up across the province, fuelling accusations that Ontario is hurtling towards a Pay For Access system.Richard Southern, a Queen’s Park reporter for CityNews, says one Toronto clinic is charging as much as $1,200 for a yearly membership.“It seemed a bit egregious but the more we dug into it, we found out this is actually something that is legal in Ontario,” says Southern.  So how are these clinics able to charge exorbitant fees when health care is supposed to be free? How did we end up here? And is this really the road Ontario’s health-care system is headed down?You can subscribe to The Big Story po...

Syria says Israeli airstrikes hit airports in Damascus and Aleppo, damaging their runways

Published Sat, 22 Feb 2025 04:57:55 GMT

DAMASCUS, Syria (AP) — Syrian state media reported that Israeli airstrikes on Thursday hit the international airports of the Syrian capital Damascus and the northern city of Aleppo, damaging their runways and putting them out of service.State news agency SANA quoted an unnamed military official as saying that no one was hurt in the attacks. The Israeli military declined to comment. They would be the first Israeli strikes on Syria since the militant Palestinian group Hamas carried out its deadly attacks in southern Israel.The airstrikes came a day before Iran’s foreign minister was scheduled to visit Syria to meet officials over the volatile situation in the region.Israel has targeted airports and sea ports in the government-held parts of Syria in an apparent attempt to prevent arms shipments from Iran to militant groups backed by Tehran, including Lebanon’s Hezbollah. Thousands of Iran-backed fighters from around the region joined Syria’s 12-year conflict helping tip the balance in ...

Auto workers escalate strike, walking out at Ford’s largest factory and threatening Stellantis

Published Sat, 22 Feb 2025 04:57:55 GMT

DETROIT (AP) — The United Auto Workers union significantly escalated its walkout against Detroit’s Three automakers, shutting down Ford’s largest factory and threatening Jeep maker Stellantis.In a surprise move Wednesday night, 8,700 members left their jobs at Ford’s Kentucky truck plant in Louisville.And Thursday morning, union President Shawn Fain hinted at further action against Stellantis. “Here’s to hoping talks at Stellantis today are more productive than Ford yesterday,” Fain wrote on X, formerly Twitter, without saying what might happen.Ford’s truck plant makes heavy-duty F-Series pickup trucks and large Ford and Lincoln SUVs, hitting the company’s most lucrative products. The vehicles made at the plant generate $25 billion per year in revenue, the company said in a statement.Fain said in a statement that the union has waited long enough “but Ford hasn’t gotten the message” to bargain for a fair contract. “If they can’t understand that after fou...