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Insider Q&A: An economist who sees a recession coming despite economy’s resilience so far

Published Tue, 12 Nov 2024 02:15:29 GMT

WASHINGTON (AP) — For more than a year, the U.S. economy has defied predictions of a forthcoming recession. It has withstood 10 interest rate hikes in 16 months from an inflation-fighting Federal Reserve. In June, America’s employers added a healthy 209,000 jobs.Will the economy remain resilient? Can the Fed achieve a notoriously difficult “soft landing” — slowing growth just enough to tame inflation without causing a recession?The Associated Press spoke recently with Gus Faucher, chief economist at PNC Financial Services Group. The conversation has been edited for length and clarity.Q: The job market is cooling but remains strong. Does that suggest a soft landing?A: What we have seen in the job market so far in 2023 is consistent with a soft landing. Over the past three months, we’ve added 244,000 jobs per month. That’s still too high from the Fed’s perspective but much better than what we had at the end of last year. Although it’s consistent with a soft landing, it’s also co...

Alexander’s: Q2 Earnings Snapshot

Published Tue, 12 Nov 2024 02:15:29 GMT

PARAMUS, N.J. (AP) — PARAMUS, N.J. (AP) — Alexander’s Inc. (ALX) on Monday reported a key measure of profitability in its second quarter.The Paramus, New Jersey-based real estate investment trust said it had funds from operations of $18.2 million, or $3.55 per share, in the period.Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.The company said it had net income of $64.1 million, or $12.51 per share.The real estate investment trust posted revenue of $53.7 million in the period.The company’s shares have dropped 14% since the beginning of the year. The stock has dropped 22% in the last 12 months._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ALX at https://www.zacks.com/ap/ALXSource

New Relic: Fiscal Q1 Earnings Snapshot

Published Tue, 12 Nov 2024 02:15:29 GMT

SAN FRANCISCO (AP) — SAN FRANCISCO (AP) — New Relic Inc. (NEWR) on Monday reported a loss of $37.4 million in its fiscal first quarter.The San Francisco-based company said it had a loss of 54 cents per share. Earnings, adjusted for stock option expense and restructuring costs, came to 43 cents per share.The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 31 cents per share.The cloud-based software analytics company posted revenue of $242.6 million in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $239.1 million._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NEWR at https://www.zacks.com/ap/NEWRSource

Heartland Express: Q2 Earnings Snapshot

Published Tue, 12 Nov 2024 02:15:29 GMT

NORTH LIBERTY, Iowa (AP) — NORTH LIBERTY, Iowa (AP) — Heartland Express Inc. (HTLD) on Monday reported profit of $7.8 million in its second quarter.The North Liberty, Iowa-based company said it had profit of 10 cents per share.The trucking and logistics company posted revenue of $306.2 million in the period._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HTLD at https://www.zacks.com/ap/HTLDSource

Empleado de mantenimiento acusado por documentos en mansión de Trump enfrenta audiencia

Published Tue, 12 Nov 2024 02:15:29 GMT

MIAMI, Florida – El empleado de mantenimiento de Mar-a-Lago, la mansión y resort del expresidente Donald Trump en Florida, imputado en una nueva acusación formal junto con el exmandatario por el presunto mal manejo de documentos gubernamentales clasificados después de que el expresidente dejó el cargo tenía pautada este lunes su primera comparecencia ante la corte. Carlos De Oliveira, de 56 años, comparecerá ante un juez de primera instancia este lunes en Miami para presentar su declaración de culpabilidad después de haber sido nombrado la semana pasada como tercer coacusado en una acusación de reemplazo o enmendada. Los fiscales acusan a De Oliveira de intentar borrar imágenes de vigilancia en el resort de Palm Beach del expresidente después de que el Departamento de Justicia intentara obtenerlas.Hasta el domingo en la noche De Oliveira todavía un abogado en Florida. “Estamos trabajando para encontrar un abogado local”, dijo John Irving, abogado de De Oliveira, a NBC News. Pe...

Police investigating 'suspicious package' at Larimer County Justice Center

Published Tue, 12 Nov 2024 02:15:29 GMT

DENVER (KDVR) — Police in Larimer County are investigating a suspicious package.Around 8:20 a.m. Monday, the Larimer County Sheriff's Office tweeted that they were investigating a suspicious package at the justice center. The center is located at 201 Laporte Ave. near Civic Center Park in Fort Collins.Deputies are asking everyone to avoid the area while they investigate. A shelter-in-place has been issued for the area of Willow to the north, Oak to the south, Remington to the east, and Sherwood to the west.This is a developing story and will be updated as more information becomes available.

I-70 delays expected as Floyd Hill construction project enters new phase

Published Tue, 12 Nov 2024 02:15:29 GMT

CLEAR CREEK, Colo. (KDVR) -- The five-year project at Floyd Hill will enter a phase this week that could impact your commute.The project, estimated to cost several hundreds of millions of dollars, will expand parts of Interstate 70 in the high country.The "daytime impacts" will happen due to rock scaling and blasting that start Monday along the construction route.The project runs between Evergreen and Idaho Springs. 5-year construction project begins on I-70 at Floyd Hill Between 9 a.m. and 3 p.m. Monday through Thursday and 9 a.m. to noon on Friday, drivers could expect a 45-minute delay, according to the Colorado Department of Transportation."It's a longer-term project, we'll have construction going on through 2028," Presley Fowler, a spokesperson for CDOT, said.Floyd Hill will be much wider. Until then, look for slowdowns and construction."We're going to minimize traffic impacts by working what's considered off-peak travel times," Fowler said.The work on the Floyd Hill project ...

Biden goes west to talk about efforts to combat climate change

Published Tue, 12 Nov 2024 02:15:29 GMT

WASHINGTON (AP) — President Joe Biden will travel to Arizona, New Mexico and Utah next week and is expected to talk about his administration's efforts to combat climate change as the region endures a brutally hot summer with soaring temperatures, the White House said Monday. Biden is expected to discuss the Inflation Reduction Act, America's most significant response to climate change, and the push toward more clean energy manufacturing. The act aims to spur clean energy on a scale that will bend the arc of U.S. greenhouse gas emissions. Parts of Cherry Creek Reservoir closed to recreation for toxic algae bloom July has been the hottest month ever recorded. Biden last week announced new steps to protect workers in extreme heat, including measures to improve weather forecasts and make drinking water more accessible.Members of Biden's administration also are fanning out over the next few weeks around the anniversary of the landmark climate change and health care legislation to extol...

Alpine Rescue Team urges safety after busy weekend of calls

Published Tue, 12 Nov 2024 02:15:29 GMT

DENVER (KDVR) -- Alpine Rescue Team is reminding hikers to be prepared after a busy weekend of calls. The rescue team received four calls on Saturday alone for injured individuals in the mountains at Herman Gulch, St. Mary's and Kingston Peak. Videos: Tornadoes captured on camera in Adams County However, Dawn Wilson with Alpine Rescue said it's been busy for a while now."We’ve had a really busy July actually, we’ve had over two dozen rescues in the month of July and we think the rain is out and more people are out enjoying the Colorado backcountry," Wilson said. Alpine Rescue said it's important to know before you go and to know your body. "If you’re out there enjoying Colorado mountains, be safe. Do what you can of being educated and knowing your physical limitations," Wilson said. "The big thing too is social media and making sure you’re not trying to bag a peak or do a certain distance without paying attention to your body and if it's telling you you need to stop and turn arou...

Lawsuit alleges Delta overserved alcohol to male passenger who allegedly groped mother and underage daughter on flight

Published Tue, 12 Nov 2024 02:15:29 GMT

(CNN) — A male passenger groped a mother and her underage daughter while aboard an international flight last summer after being overserved alcohol by Delta Air Lines, according to a federal lawsuit filed last week in New York.The lawsuit, filed in U.S. Eastern District Court of New York, alleges that Delta flight attendants continued to serve alcohol to an intoxicated passenger even after the mother and her 16-year-old daughter repeatedly told them that the man was making them feel “unsafe” and inappropriately touching them.The unnamed plaintiffs in the lawsuit allege that throughout the duration of the nearly nine-hour flight from John F. Kennedy International Airport in New York to Athens, Greece, the man made obscene gestures, sexually assaulted, and yelled at the 16-year-old girl seated next to him on the flight. Delta flight attendants served the man “approximately ten vodka on ice drinks” among other alcoholic beverages, during the course of the flight according to the la...