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POLITICO Pro Central Banker: ECB hikes — Digital pound — China weakens  

Published Sat, 22 Feb 2025 11:59:09 GMT

Our one-stop source for central banking & monetary policy news.View in your browser or listen to audioBy GEOFFREY SMITHwith JOHANNA TREECK, CARLO BOFFA, BEN MUNSTER and IZABELLA KAMINSKASNEAK PEEK— The ECB promised more rate hikes to come after revising its inflation forecasts higher.— BoE deputy governor Jon Cunliffe told POLITICO the Bank’s joint digital pound consultation with the Treasury has attracted 50,000 responses so far.— Strong U.S. retail sales data for May dispelled remaining doubts about another Fed rate hike in July.POLICY TICKERECB 3.50% ⇡ — BOE 4.5% ⇡ — FED 5.25% ⇡— SNB 1.5% ⇡— BOJ -0.10% ⇣— RBA 4.10% ⇡— PBOC 3.65%⇣— CBR 7.5% ⇣ — BOC 4.75 ⇡— SARB 8.25% ⇡Good morning, everyone, and a happy Friday to you all. European Central Bank President Christine Lagarde cut a strangely nervous figure at the start of her press conference on Thursday, as if (and we admit that this is just an impression) she wasn’t all that confident about the message she was abo...

'He loved everyone': Family mourns loss of toddler as suspect pleads not guilty

Published Sat, 22 Feb 2025 11:59:09 GMT

SAN DIEGO -- The man authorities believe is responsible for abuse and murder of a toddler in the Bay Terraces neighborhood appeared in a downtown San Diego courtroom Thursday for the first time. "He was just the greatest," Edgar Soto, the young boy's biological father said Thursday. “We've both been grieving and it’s a painful process for both of us." The young boy died Monday afternoon. San Diego Police Department detectives said the mom's boyfriend, 20-year-old McArvin Carnigal-Sanchez, caused the injuries to the toddler, who suffered serious traumatic internal injuries that indicated physical child abuse. The boy was found unresponsive at a home in the Bay Terraces neighborhood.“I trusted Mac {McArvin Carnigal-Sanchez} to take care of my kid too, I trusted both of them," the boy's father said, referring to the mother too and not placing blame on anyone, including the man in custody. "I just think its unfair how everything playing out.”Carnigal-Sanchez pleaded not guilty to the tw...

Drought and rising heat bring unusual wildfire warnings in northern Europe

Published Sat, 22 Feb 2025 11:59:09 GMT

HELSINKI (AP) — Summer is wildfire season in southern Europe, but this year the continent’s north is also at risk, with forest fire warnings in effect across the Nordic and Baltic countries.A lack of rain and rising temperatures have led to dangerously dry conditions in the region, leading to worries of a repeat of the summer of 2018 when major wildfires swept across Sweden in particular.Small wildfires are already burning in Norway, Sweden, Denmark and Finland and experts worry it could get much worse unless there’s significant rainfall in coming weeks.Unlike the sun-soaked Mediterranean countries, which have to deal with wildfires every summer, the phenomenon is rare in the countries of northern Europe, where summers are normally cool and wet by comparison.“These countries are relatively new to drought problems,” said Niclas Hjerdt, head of hydrological forecasting at Sweden’s weather agency SMHI. “We usually have an excess of water up here in northern Europe and Scand...

Thousands of Sudanese fleeing fighting with no travel documents trapped on the border with Egypt

Published Sat, 22 Feb 2025 11:59:09 GMT

ASWAN, Egypt (AP) — When fighting in Sudan erupted in mid-April, Abdel-Rahman Sayyed and his family tried to hold out hiding in their home in the capital, Khartoum as the sounds of explosions, gunfights and the roar of warplanes echoed across the city of 6 million people.They lived right by one of the fiercest front lines, near the military’s headquarters in central Khartoum, where the army and a rival paramilitary, the Rapid Support Forces, battled for control. Three days into the conflict, a shell hit their two-story home, reducing much of it to rubble.Luckily, Sayyed, his wife and three children survived, and they immediately fled the war-torn city. The problem was, their passports were buried under the wreckage of their home.Now they are among tens of thousands of people without travel documents trapped at the border with Egypt, unable to cross into Sudan’s northern neighbor.“We narrowly escaped with our lives,” the 38-year-old Sayyed said in a recent phone interview from Wadi H...

California artists, chefs find creative ways to confront destructive ‘superbloom’ of wild mustard

Published Sat, 22 Feb 2025 11:59:09 GMT

SAN DIEGO (AP) — While ripping out yellow blooms blanketing hillsides in Los Angeles, Max Kingery has been questioned about his fervor for killing flowers.But the clothing designer who used the plants to dye his spring and summer lines said he takes no offense at being accused of pillaging this part of California’s “superbloom.” Instead, he sees it as an opportunity to raise awareness about a destructive flower that proliferated in the state following an unusually wet winter: wild black mustard.Mustard was among the most prominent of wild flowering plants that seemingly popped up everywhere in California this spring. As temperatures warm it is starting to die, making it tinder for wildfires in a state that has been ravaged by blazes. Its stalks can act as fire ladders, causing flames to climb.Mustard also smothers native plants, transforming the landscape. Its leaves and roots inhibit the growth of other species, creating a mono-thicket that spreads rapidly. There are numerous kinds...

Keeler: How Nuggets’ run to NBA title inspired Denver vet to find his feet again: “Those guys have no idea how much this means to me.”

Published Sat, 22 Feb 2025 11:59:09 GMT

Greg Hatter turned up Thursday to say thanks. Not because the Nuggets gave him a reason to party. Because they gave him a reason to live.“It’s funny. They look at me like, ‘You had a stroke?’” Hatter chuckled Thursday after watching Denver’s first-ever NBA championship victory celebration at Civic Center Park. “I say back, ‘Hey, I may look like a Lamborghini, but inside, at times, I look like a Yugo.”That engine’s purring again, thanks to a lot of love. A lot of hands. A lot of prayers. And this basketball team of tough, smart, misfit toys, led by a Serbian bear who passes like a point guard.“Watching the Nuggets and what they’ve been doing, this has been an inspiration for me,” Hatter said proudly. “As the they got going, I was growing stronger, too.”He felt strong enough Thursday morning to slap fives with Christian Braun and Jack White as they passed. He looked up at Jamal Murray, puffing away at another victory cigar, and saw a little of himself.“I didn’t know if I would make it...

Crews battle large structure fire in downtown Los Angeles

Published Sat, 22 Feb 2025 11:59:09 GMT

Crews with the Los Angeles Fire Department were battling a greater alarm blaze, dubbed the "Crocker Fire," at one-story commercial building in downtown Los Angeles Thursday evening.  Firefighters were dispatched to the scene, located at 832 S. San Pedro St., at around 9:41 p.m. where the flames were seen burning through the structure’s roof, LAFD said, adding that crews had initially taken a defensive position with the fire, fighting it from the perimeter. At around 10:28 p.m., firefighters made some headway into the building and were fighting the blaze from an offensive position, according to KTLA's Sky5 reporter Gil Leyvas. Officials said that 114 LAFD crews members were assigned to the blaze where at least three units in the complex were showing heavy flames. Aerial footage from Sky5 showed a large presence of first responders on the scene. While they attempted to extinguish the blaze from a portion of the structure's roof, firefighters also worked to keep the fire from spreading...

Albany movie theater closing after 88 years

Published Sat, 22 Feb 2025 11:59:09 GMT

ALBANY, Calif. (KRON) -- In the East Bay, a popular movie theatre is closing after more than 80 years. Landmark Albany Twin is screening its final shows Thursday night."I'm here to get tickets for tonight. The community is completely shocked we got so little information," said Albany resident Brigid Acuna.Acuna is one of several moviegoers here to watch her last film at the Albany Twin Theatre -- closing after almost 90 years. Manfred comments on A’s reverse boycott, move to Vegas; Oakland mayor responds Landmark the Theatre's owner reportedly says the company is "Constantly evaluating its business strategy and has decided to close the Albany Twin.” Details were not shared about the future of the building.Closing on the same day, San Francisco's Westfield Mall movie theater. Movie theatres have faced challenges since the pandemic.According to the non-profit national cinema foundation, the U.S. lost more than 2000 movie theatre screens since the pandemic. Back in Albany, on the fi...

POLITICO Pro Morning Energy and Climate UK: MPs warn on energy market — Net zero debate heats up — Poll exclusive

Published Sat, 22 Feb 2025 11:59:09 GMT

Presented by SSE By CHARLIE COOPER and ABBY WALLACE PRESENTED BY View in your browser or listen to audioSNEAK PEEK— MPs and industry figures have called on the government to clarify its plans for electricity market reform.— The political debate on energy and climate has gotten nastier in recent weeks. With an election looming, is this the shape of things to come?— We’ve got exclusive polling which provides insights into how the public feels about Biden-style state spending on the green transition.Happy Friday and welcome to Morning Energy and Climate UK. It is the end of our first week — thanks for hanging out with us. We’ll be back in your inbox bright and early on Monday and then every weekday. In the meantime, here’s your latest update. Have a superb weekend.As always send tips, musings, encouragement and (gentle, constructive) criticism to [email protected], [email protected] and [email protected]. Or reach u...

Carlsbad Boulevard could see reduced lanes, roundabouts

Published Sat, 22 Feb 2025 11:59:09 GMT

CARLSBAD, Calif. -- The popular Highway 101 in Carlsbad could soon see major changes as the city moves forward with possible plans to reduce lanes and install roundabouts.The City of Carlsbad wants drivers to slow down and it is concerned about the possibility of Highway 101 ending up in the ocean.“You can definitely see so much of the cliff erosion that’s here that we basically had to block it off to maintain that,” said City of Carlsbad Community Relations Manager Nikki Matosian.Crumbling cliffs and high speeds are prompting the City of Carlsbad to plan changes to the busy Carlsbad Boulevard.“We’re basically studying and showing how we can move our roadway away from hazards from cliff erosions, sea level rise,” Matosian said.The city is looking to reduce lanes down to two and put in roundabouts from Manzano Drive to Island Way. Some say that may make traffic worse especially during the busy summer season. Alaska Airlines now offering nonstop flights from San Diego to these citie...