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Wall Street drifts lower as earnings season kicks into gear

Published Sat, 22 Feb 2025 20:05:30 GMT

NEW YORK (AP) — Stocks on Wall Street are drifting lower Monday at the start of the first full week of earnings reporting season. The S&P 500 fell 0.2% in its first trading after squeezing out its fourth winning week in the last five. The Dow Jones Industrial Average was down 50 points, or 0.2%, at 33,835, as of 1:10 p.m. Eastern time, while the Nasdaq composite was 0.3% lower. Several financial companies reported a mixed set of profit reports for the first three months of the year. They followed up on a bevy of better-than-expected reports f rom JPMorgan Chase and other big U.S. banks that marked the unofficial start of reporting season late last week. A lot of focus has been on the strength of the financial industry broadly after the second- and third-largest U.S. bank failures in history last month rocked markets worldwide. Charles Schwab reported better profit than expected, and its stock rose 2.4%. It flipped from an earlier loss after it said deposits fell more last quarte...

US ambassador visits reporter accused by Russia of spying

Published Sat, 22 Feb 2025 20:05:30 GMT

MOSCOW (AP) — The U.S. ambassador to Russia said Monday that she was able to visit the Wall Street Journal reporter who was detained more than two weeks ago on charges of espionage.Ambassador Lynne Tracy said that she visited Evan Gershkovich in Moscow’s Lefortovo Prison, notorious for harsh conditions, and “he is in good health and remains strong.”It was “the first time we’ve been permitted access to him since his wrongful detention more than two weeks ago,” she said on Twitter. “We reiterate our call for his immediate release.”Gershkovich, 31, his employer and the U.S. government all deny he was involved in spying.Deputy Foreign Minister Sergei Ryabkov said last week that a possible prisoner exchange for Gershkovich could take place, but only after his trial is completed. No date has been set for that.It’s not clear how long the investigation could last, but other espionage cases have lasted for a year or more.In December, American basketball star Brittney Griner was e...

Ontario seeks to set priorities for school boards on student achievement

Published Sat, 22 Feb 2025 20:05:30 GMT

Ontario’s education minister is proposing to establish “provincial priorities” on student achievement for school boards, strengthen training for trustees and board officials, and use surplus school board properties for housing.Those changes and many others are contained in an omnibus education bill tabled today by Stephen Lecce.He says it’s an overhaul designed to lift education standards and strengthen “back to basics” learning in reading, writing and math, that will lead to a more effective education system.The actual priorities for school boards will be set out by the government in regulations after the legislation passes, but officials say they will focus on student achievement in key areas such as reading, writing and math.The bill also seeks to “modernize” teacher education, make disciplinary processes more efficient, and foster greater parent involvement.Related: Ontario announces plan to hire 1,000 new teachers for math and lit...

Liberals, Tories must publish fundraiser venues despite concerns: Elections Canada

Published Sat, 22 Feb 2025 20:05:30 GMT

OTTAWA — Elections Canada is insisting that regulated fundraising events be publicly advertised with precise locations, despite safety concerns raised by the governing Liberals and Opposition Conservatives. Parties are obligated under political financing law to publicly list the venue name, but Elections Canada said in guidelines published last week that Parliament could change the law to account for those concerns.Until then, all fundraising events held in person — outside a general election — must be posted on the registered party’s website and must include the venue name as well as the municipality, province or territory, and postal code. Both the Liberal and Conservative parties have been leaving venue details out of online notices for fundraising events attended by their leaders, citing increased security threats.Elections Canada made its final ruling last week after an unnamed political party suggested that listing the municipality and province or territory where an even...

Speaker McCarthy vows to pass debt bill — with a big ‘if’

Published Sat, 22 Feb 2025 20:05:30 GMT

WASHINGTON (AP) — House Speaker Kevin McCarthy pledged on Monday to pass legislation to raise the nation’s debt ceiling — but on condition of capping future federal spending at 1% — as he lashed out at President Joe Biden for refusing to engage in budget-cutting negotiations to prevent a debt crisis.In a high-profile speech at the New York Stock Exchange, McCarthy, the Republican leader who is marking his 100th day as speaker, said the nation’s debt load is a “ticking time bomb” and Biden is “missing in action” as the deadline nears to raise the debt limit. “Since the president continues to hide, House Republicans will take action,” McCarthy said.“Defaulting on our debt is not an option,” McCarthy said seeking to shift blame for the standoff and draw the White House back into talks. “The longer President Biden waits to be sensible to find an agreement, the more likely it becomes that this administration will bumble into the first default in our nation’s history.”Mc...

Ex-politician known for feces protest killed in South Africa

Published Sat, 22 Feb 2025 20:05:30 GMT

CAPE TOWN, South Africa (AP) — A former politician who gained notoriety in South Africa for dumping human feces in public places as a protest against the living conditions in some of the country’s poorest townships was fatally shot Monday while meeting with a group of homeless people, police said.Loyiso Nkohla was killed by unknown gunmen, who fled the scene of the shooting near the Philippi Railway Station on the outskirts of Cape Town. Three other people were wounded and were taken to the hospital by bystanders, police said.Police said there was no clear motive for the killing. South African media reported that more than 20 shots were fired, but police didn’t confirm those details.Nkohla, who local media reported was 40 years old, had been addressing people who live in shacks and other informal structures near the railway yard when he was shot. He served as an elected local councilor for the ruling African National Congress party, but later joined numerous other politi...

US brings charges over secret Chinese police outpost in NYC

Published Sat, 22 Feb 2025 20:05:30 GMT

NEW YORK (AP) — Two men have been arrested on charges that they helped establish a secret police outpost in New York City on behalf of the Chinese government, Justice Department officials said Monday.Officials say the case is part of a broader effort by the Justice Department to crack down on Chinese government attempts to harass dissidents and stifle free speech in the United States.Larry Neumeister And Eric Tucker, The Associated Press

The sale of Teck to a foreign buyer would be a loss for Canada, critics say

Published Sat, 22 Feb 2025 20:05:30 GMT

VANCOUVER — Some industry watchers say a hostile takeover of Canada’s largest diversified mining company by a foreign entity would be bad news for the Canadian economy.Swiss commodities giant Glencore is proposing to buy Vancouver-based mining company Teck Resources Ltd., an offer that Teck’s board has rejected.Some analysts say such a transaction would mean a “hollowing out” of Canada’s mining industry, at a time when the mining sector could be poised for a boom.Economist and former Scotiabank executive Patricia Mohr says she expects copper prices to skyrocket within the next few years, because copper is one of the critical metals used in the manufacturing of electric vehicles.She says Teck is well situated to capitalize on that, with its massive new copper mine project in Chile as well as copper deposits in Canada.Mohr and others say Teck is one of the last remaining big mining companies that is still controlled by Canadians, and losing that domestic ...

MUST-WATCH: One last job for the acting hitman

Published Sat, 22 Feb 2025 20:05:30 GMT

The final season of Bill Hader’s masterpiece has entered the MUST-WATCH! Will he slaughter his way to the top spot, or could it go to art’s most famous creature of the night? Perhaps another final season of a critically acclaimed dramedy? You’ll have to keep reading to find out!The Marvelous Mrs. Maisel (Season 5)Where to watch: Prime VideoLet’s start off with the final season of one of Prime Video’s biggest hits!Rachel Brosnahan in the fifth season of the Marvelous Mrs. Maisel, courtesy of Amazon Studios.The end of the Marvelous Mrs. Maisel is nigh! When we last left Midge (played by Rachel Brosnahan from House of Cards), she was kicking herself for giving up opening acts and is considering going back to them. She also gets a new job writing for a comedy show, which could help her make it into the big time. Her ex (played by Michael Zegen from Boardwalk Empire) is getting married again and expecting with his new partner. And new this season, the show f...

Chicago O’Hare's airport train breaks...again

Published Sat, 22 Feb 2025 20:05:30 GMT

CHICAGO — O’Hare International Airport’s trouble-automated train system broke down again this weekend.  It was out of service for seven hours on Sunday forcing passengers to board buses to move between terminals, remote parking and the rental car facility.“The outage was caused by a mechanical failure on board a train stationed at Terminal 3, and extensive work was required by ATS engineers to remove the train from service and safely restore the system's operations,” according to an airport spokesperson. New air taxi route could get you from O’Hare to Chicago’s Near West Side in 10 minutes WGN Investigates has reported on the train system’s reliability in the year since it fully reopened to the public.Records revealed the train system had to be taken off-line for at least 30 minutes or more 53 times in the first 10 months it had fully reopened.  Some of the outages were for planned maintenance or software upgrades, but the train system unexpectedly failed to function on 17 days du...