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This week in business: consumer confidence, inflation updates

Published Wed, 19 Feb 2025 10:43:52 GMT

Checking confidence?The Conference Board on Tuesday releases its gauge of consumer confidence for September.Economists project that confidence fell slightly this month. The Conference Board’s consumer confidence index surged in July to 114, its highest level in 24 months and has generally been strong since late in 2022. A reading of 90 or better reflects a healthy economy.Consumer confidence, by month:April 103.7May: 102.5June: 110.1July: 114.0Aug.: 106.1Sept. (est): 105.4Source: FactSetMeasuring inflationThe Commerce Department releases its August snapshot of U.S. consumer spending and inflation on Friday.The personal consumption expenditure price index, a gauge of inflation that’s closely monitored by the Federal Reserve, ticked higher in July and is expected to have edged higher again last month. The Fed has been raising interest rates in a bid to bring inflation back down to 2%.PCE Deflator, annual percent change, seasonally adjusted:March 4.17April 4.29May 3.77June: 2.96J...

Thomas, Sun to face the Liberty

Published Wed, 19 Feb 2025 10:43:52 GMT

Connecticut Sun (27-13, 14-6 Eastern Conference) at New York Liberty (32-8, 16-4 Eastern Conference)New York; Tuesday, 8 p.m. EDTFANDUEL SPORTSBOOK WNBA LINE: Liberty -8.5; over/under is 161.5WNBA PLAYOFFS SEMIFINALS:BOTTOM LINE: The New York Liberty play the Connecticut Sun.The Liberty are 16-4 in Eastern Conference games. New York is 3-1 in games decided by less than 4 points.The Sun have gone 14-6 against Eastern Conference opponents. Connecticut ranks eighth in the WNBA with 33.6 rebounds per game. Alyssa Thomas paces the Sun with 9.9.TOP PERFORMERS: Breanna Stewart is averaging 23 points, 9.3 rebounds, 3.8 assists, 1.5 steals and 1.6 blocks for the Liberty. Betnijah Laney is averaging 16.4 points over the last 10 games for New York.DeWanna Bonner is averaging 17.4 points and 5.6 rebounds for the Sun. Thomas is averaging 15.6 points over the last 10 games for Connecticut.LAST 10 GAMES: Liberty: 8-2, averaging 90.1 points, 37.1 rebounds, 22.3 assists, 6.9 steals and 4.9 blocks pe...

Joveljic, Barrios rally Galaxy to 3-3 draw with Austin

Published Wed, 19 Feb 2025 10:43:52 GMT

AUSTIN, Texas (AP) — Dejan Joveljic scored in the 89th minute, Michael Barrios’ first goal with Los Angeles came in stoppage time and the Galaxy rallied for a 3-3 draw with Austin FC on Sunday night in a match that started three hours late because of a thunderstorm.Austin snaps a club-record four-match losing streak at home in all competitions and ends a three-match skid against the Galaxy with the tie. LA was trying to become the first team to beat Austin four times in a row but will have to settle for a 4-1-1 record in the last six matchups.Alexander Ring staked Austin (9-13-8) to a 1-0 lead in the 11th minute when he took a pass from Emiliano Rigoni and scored for a second time this season.Riqui Puig scored the equalizer for the Galaxy (8-11-10) on a penalty kick — his seventh goal of the season — in the second minute of stoppage time after drawing a foul on Austin defender Julio Cascante. But Ethan Finlay answered four minutes later and Austin took a 2-1 lead into halftime...

Deal ‘with the devil’: Meet the Cubans who’ve joined Russia’s war on Ukraine

Published Wed, 19 Feb 2025 10:43:52 GMT

What César really wanted was to get out of Cuba. A bartender struggling to make ends meet in Havana, he tried last year to reach Miami in a rickety boat but was forced to abandon the attempt when he was intercepted by the U.S. Coast Guard.He’s now preparing a second escape attempt: with a direct flight to Moscow. His ticket has been paid for by a Russian recruiter but it comes with a hefty price tag nonetheless: As part of the deal, he will have to join the Russian army and fight in Ukraine.“If this is the sacrifice I have to make for my family to get ahead, I’ll do it,”  said César, who turned 19 this year and whose name has been changed to protect his identity.“You can be a nuclear physicist and still die of hunger here,” he said. “With my current salary I can barely buy basic things like toilet paper or milk.” He said he hoped he would be allowed to work as a paramedic.The news of Cuban fighters in Ukraine splashed across global headlines earlier this month when Havana annou...

Writers Guild and Hollywood studios reach tentative agreement to end strike. No deal yet for actors

Published Wed, 19 Feb 2025 10:43:52 GMT

LOS ANGELES (AP) — Union leaders and Hollywood studios reached a tentative agreement Sunday to end a historic screenwriters strike after nearly five months, though no deal is yet in the works for striking actors.The Writers Guild of America announced the deal in a joint statement with the Alliance of Motion Picture and Television Producers, the group that represents studios, streaming services and production companies in negotiations.“WGA has reached a tentative agreement with the AMPTP,” the guild said in an email to members. “This was made possible by the enduring solidarity of WGA members and extraordinary support of our union siblings who joined us on the picket lines for over 146 days.”The three-year contract agreement — settled on after five marathon days of renewed talks by WGA and AMPTP negotiators that was joined at times by studio executives — must be approved by the guild’s board and members before the strike officially ends.In a longer message from the gu...

Oil prices have risen. That’s making gas more expensive for US drivers and helping Russia’s war

Published Wed, 19 Feb 2025 10:43:52 GMT

FRANKFURT, Germany (AP) — Oil prices have risen, meaning drivers are paying more for gasoline and truckers and farmers more for diesel.The increase also complicates the global fight against inflation and feeds Russia’s war chest. That poses problems for politicians as well as the people having to spend more to get to work, transport the world’s goods or harvest fields.Here are things to know about the recent increase — and where prices might be going:WHY HAVE OIL PRICES RISEN?Above all, Saudi Arabia’s decision to cut back how much oil it sends to global markets has pushed prices higher.The world’s second-largest oil supplier has slashed production by 1 million barrels a day since July and decided this month to extend the cut through the end of the year.Russia, Saudi Arabia’s ally in the OPEC+ oil producers’ coalition, also extended its own cut of 300,000 barrels a month through 2023.Simply, tighter supp...

Lucas: Biden leaves cities hanging on migrant aid

Published Wed, 19 Feb 2025 10:43:52 GMT

Iran, yes, New York, no.That just about sums up President Joe Biden’s attitude when it comes to providing aid to New Yorkers who are being dragged under by the hordes of illegal immigrants who have invaded the city.Biden did not even meet with New York Mayor Eric Adams during his four–day visit to the city and the United Nations.His message to New York and Mayor Eric Adams was: Get lost.Be warned, though, as New York goes so goes the country.Biden politically cannot and will not come up with funds to bail out cities and states that have been overwhelmed with five million illegal immigrants from around the world thanks to his open border policy.To do so would be an admission that he is responsible for purposely opening the once secure border to let the flood of illegals in as well as for the deadly fentanyl that many of them carry into the country,And while he will talk about protecting the border of Ukraine, he will not utter a word about protecting the borders of the U.S.If B...

Stock market today: Asian world shares mostly lower after Wall St has its worst week in 6 months

Published Wed, 19 Feb 2025 10:43:52 GMT

Shares in Asia were mostly lower on Monday, with Tokyo the only major regional market to advance, after Wall Street wheezed to more losses with its worst week in six months. U.S. futures and oil prices edged higher. Worries over China’s property sector, a U.S. government shutdown and the continued strike by American autoworkers were weighing on investor sentiment. Germany’s DAX fell 0.6% to 15,458.86 while the CAC 40 in Paris also dropped 0.6%, to 7,143.79. Britain’s FTSE 100 declined 0.6% to 7,637.55. The futures for the S&P 500 and the Dow industrials were up 0.1%.Troubled property developer China Evergrande sank nearly 22% after announcing it was unable to raise further debt due to an investigation into one of its affiliates, a predicament that might imperil plans for restructuring its more than $300 billion in debt. Hong Kong’s Hang Seng lost 1.8% to 17,729.29, while the Shanghai Composite index declined 0.5% to 3,115.61. Japan’s Nikkei 225 was up 0.9...

London’s top cop seeks protections for police as armed officers protest murder charge for colleague

Published Wed, 19 Feb 2025 10:43:52 GMT

LONDON (AP) — The head of London’s police force is calling for increased legal protections for officers who use force in the line of duty after more than 100 officers refused to carry guns to protest murder charges filed against one of their colleagues.The revolt by specially trained firearms officers has raised concerns about the Metropolitan Police Service’s ability to respond to some incidents, and the military has agreed to provide backup for counterterrorism operations. Fewer than 10% of London police officers carry guns.Police Commissioner Mark Rowley wrote to Home Secretary Suella Braverman late Sunday welcoming her decision to review the rules governing armed police and calling on her to “let the police police.” Braverman, whose department oversees policing, announced the review earlier in the day.“We rely on officers who are willing to put themselves at risk on a daily basis to protect the public from dangerous criminals including terrorists,’’ Rowley said. “Officers need s...

On the campaign trail, New Zealand leader Chris Hipkins faces an uphill battle wooing voters

Published Wed, 19 Feb 2025 10:43:52 GMT

NEW PLYMOUTH, New Zealand (AP) — New Zealand Prime Minister Chris Hipkins was on the campaign trail Monday visiting an art gallery when his guide asked him what he pictured when he looked up at a towering wooden sculpture.“I was actually just contemplating that,” Hipkins replied. “And I don’t really have a readout of it.”His response seemed to reinforce a criticism of Hipkins — that it’s hard to know what he’s passionate about, what his vision is in politics. But it perhaps also spoke to the unpretentious, Everyman image that Hipkins likes to project. He appeared more at ease earlier in the day when he’d been talking about home insulation with tradespeople and handing out sausages at a barbecue event to promote renewable energy. With less than three weeks until New Zealand’s Oct. 14 general election, the campaign stop in New Plymouth was another chance for Hipkins to woo voters. Opinion polls put his Labour Party significantly behind the more conservati...