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ECB opts for smaller hike in inflation battle

Published Wed, 26 Feb 2025 05:30:51 GMT

FRANKFURT — The European Central Bank raised interest rates by 0.25 percentage points to 3.25 percent Thursday, slowing the pace after three straight 50 basis point hikes in its most aggressive tightening cycle on record.“The inflation outlook continues to be too high for too long. In light of the ongoing high inflation pressures, the Governing Council today decided to raise the three key ECB interest rates by 25 basis points,” the ECB said in a statement.“Incoming information broadly supports the assessment of the medium-term inflation outlook that the Governing Council formed at its previous meeting. Headline inflation has declined over recent months, but underlying price pressures remain strong,” it said. “At the same time, the past rate increases are being transmitted forcefully to euro area financing and monetary conditions, while the lags and strength of transmission to the real economy remain uncertain.”In a possible compromise with hawks on the Govern...

White House unveils an AI plan ahead of meeting with tech CEOs

Published Wed, 26 Feb 2025 05:30:51 GMT

(CNN) — The White House on Thursday announced a series of measures to address the challenges of artificial intelligence, driven by the sudden popularity of tools such as ChatGPT and amid rising concerns about the technology’s potential risks for discrimination, misinformation and privacy.The US government plans to introduce policies that shape how federal agencies procure and use AI systems, the White House said. The step could significantly influence the market for AI products and control how Americans interact with AI on government websites, at security checkpoints and in other settings.The National Science Foundation will also spend $140 million to promote research and development in AI, the White House added. The funds will be used to create research centers that seek to apply AI to issues such as climate change, agriculture and public health, according to the administration.The plan comes the same day that Vice President Kamala Harris and other administration offici...

Man dies after being put in a chokehold by another rider on New York City subway, officials say. The DA is investigating

Published Wed, 26 Feb 2025 05:30:51 GMT

(CNN) — Manhattan prosecutors are conducting a “rigorous ongoing investigation” into the death of a man seen in video being put in a chokehold by another rider on the New York subway.Jordan Neely, 30, died Monday due to “compression of neck (chokehold),” a spokesperson for the New York City Office of the Chief Medical Examiner said. The manner of death was ruled a homicide, but that determination is not a ruling on intent or culpability, which is for the criminal justice system to consider, the spokesperson said.“This is a solemn and serious matter that ended in the tragic loss of Jordan Neely’s life,” Manhattan District Attorney’s Office spokesperson Doug Cohen said in a statement. “As part of our rigorous ongoing investigation, we will review the Medical Examiner’s report, assess all available video and photo footage, identify and interview as many witnesses as possible, and obtain additional medical records.”...

Attleboro middle school teacher searching for time capsule buried in 1997

Published Wed, 26 Feb 2025 05:30:51 GMT

An Attleboro school is hoping to unlock a piece of the past by digging up a time capsule buried 26 years ago.Brennan Middle School teacher Dawn Greening said the capsule was buried in 1997, but now they can’t find it. “We moved into this school in April of 1997 and we decided that we were going to put a time capsule outside in our garden area to be opened 25 years from that date,” Greening said. “Well, that time came up last year, and we have no way of locating it right now.”The time capsule has some items from the early 1990s, including a Doritos bag and some CDs. “It’s just a bunch of artifacts that the students of the community, when they were students here, have a right to now see that again and we just want to unearth it and try to find it,” Greening added. One of those students was David Oliver, a current teacher at the middle school who was in the fifth grade at the time. “It was the first year this building was there, so ...

Tigers sweep split doubleheader at Comerica Park, Mets have lost 8 of last 10 games

Published Wed, 26 Feb 2025 05:30:51 GMT

DETROIT — When the top of the fifth inning began, the Mets were behind 4-2. One sudden downpour, two outfield errors and a Francisco Lindor home run later, the sun was out and the Mets were on top 5-4.But then the stormclouds returned and the sky darkened once again, almost as though it was an ominous foretelling of the Mets’ eventual fate. Adam Ottavino blew a save in the first game and Max Scherzer (2-2) failed to get out of the fourth inning in the second game of a doubleheader, and the Detroit Tigers swept the doubleheader Wednesday at Comerica Park.The Mets (16-15) fell to the Tigers 6-5 in the first game and 8-1 in the second. They’ve now lost eight of their last 10.Scherzer made his first start since April 19, when he was ejected after three shutout innings against the Los Angeles Dodgers for a sticky substance. That ejection carried a 10-game suspension and while Scherzer said he came into the game feeling great physically after the long layoff, it didnR...

3 artists added to San Diego County Fair Concert Series lineup

Published Wed, 26 Feb 2025 05:30:51 GMT

SAN DIEGO — The lineup for the 2023 San Diego County Fair Concert Series is expanding with the announcement of three superstars who are now set to perform this summer.On Wednesday, the Del Mar Fairgrounds announced another wave of a musical talent that will be jamming out in Del Mar for fairgoers. A rare sight to see: ‘Scrippshenge’ sunset awes San Diego Here's a look at three musicians selected to entertain Southern California come June. Drum roll please...-- Wednesday, June 14: Carly Pearce; tickets priced between $40-$55: This GRAMMY Award-winning singer-songwriter will be bringing sounds of "new country with a hint of classic Dollywood-style glam" to the Grandstand Stage, the Del Mar Fairgrounds announced.-- Wednesday, June 28: Nelly; tickets priced between $35–$60: Look out, here comes another GRAMMY Award-winner in the genre of rap and hip hop. Nelly, a multi-platinum artists, will be making his debut fair performance, according to event organizers. -- Thursday, June 28: Ell...

Shocked Serbians mourn victims of Belgrade school shooting

Published Wed, 26 Feb 2025 05:30:51 GMT

BELGRADE, Serbia (AP) — Scores of Serbian students, many wearing black and carrying flowers, paid silent homage on Thursday to peers killed a day earlier when a 13-year-old boy used his father’s guns in a school shooting rampage that sent shockwaves through the nation and triggered moves to boost gun control.The students filled the streets around the school in central Belgrade as they streamed in from all over the city. Earlier, thousands had lined up to lay flowers, light candles and leave toys to commemorate the eight children and a school guard who were killed on Wednesday morning. People cried and hugged outside the school as they stood in front of heaps of flowers, small teddy bears, soccer balls. A gray and pink toy elephant was placed by the school fence along with messages of grief, and a girl’s ballet shoes hung from the fence. The Balkan nation is struggling to come to terms with what has happened. Though awash with weapons left over from the wars of the 1990s, mass shooti...

India meets with China, Russia before Central Asia forum

Published Wed, 26 Feb 2025 05:30:51 GMT

PANAJI, India (AP) — India’s foreign minister held talks Thursday with counterparts from China and Russia ahead of a meeting of a Central Asian security forum. Subrahmanyam Jaishankar said he had detailed discussions with Chinese Foreign Minister Qin Gang on bilateral ties. “Focus remains on resolving outstanding issues and ensuring peace and tranquility in the border areas,” he tweeted after the meeting. India and China are embroiled in an intense three-year standoff involving thousands of soldiers stationed along their disputed border in the eastern Ladakh region. A meeting last week between their defense ministers gave a glimpse of just how differently the two countries view the situation along the border. While India accused its neighbor of eroding ties by violating bilateral agreements, China said the border conditions were “stable overall.”A clash three years ago in Ladakh killed 20 Indian soldiers and four Chinese.Jaishankar also said he had a “comprehensive review of b...

European Central Bank slows pace of rate hikes but vows more

Published Wed, 26 Feb 2025 05:30:51 GMT

FRANKFURT, Germany (AP) — The European Central Bank slowed the pace of its interest rate increases Thursday, stepping back like the U.S. Federal Reserve from a string of jumbo hikes aimed at snuffing out inflation. But The ECB also says it is “not pausing” even as its efforts are working by making mortgages and business loans harder to get.The quarter-point hike comes a day after the Fed approved the same increase but hinted it may be the last for now. The central bank for the 20 countries that use the euro currency started later and said it has further to go even as economic growth slows to a crawl and U.S. bank instability stirs new fears of financial turmoil.“Based on the information we have today, we have more ground to cover, and we are not pausing,” ECB President Christine Lagarde said at a news conference. She later added, “This is a journey. We have not arrived yet.”Lagarde said there’s no “magic number” but that the bank “will know what that is when we get there.” Inf...

Stock market today: Wall Street dips as bank worries linger

Published Wed, 26 Feb 2025 05:30:51 GMT

NEW YORK (AP) — Stocks are slipping as Wall Street’s worries about the U.S. banking system crank even higher. The S&P 500 was 0.3% lower in early trading Thursday as several market-moving forces swirled, from the latest rate increase by the European Central Bank to a report indicating more U.S. workers got laid off last week than expected. The Dow was off 76 points, or 0.2%, while the Nasdaq composite fell 0.3%. PacWest Bancorp tumbled more than 40%. Investors have the struggling regional bank in their crosshairs following three of the four largest U.S. bank failures in history. THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.Wall Street tipped lower in premarket trading Thursday as anxiety over the stability of regional banks dragged on a day after the Federal Reserve announced another interest rate hike.Futures for the S&P 500 and the Dow Jones industrials fell 0.3%.Concerns about a rush of withdrawals by customers of regional banks continues to roil the f...