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Stock market today: World shares track Wall Street’s slump after Fed says rates may stay high in ’24

Published Sat, 22 Feb 2025 10:42:18 GMT

World shares have declined, echoing a slump on Wall Street after the Federal Reserve said it may not cut interest rates next year by as much as it earlier thought. Benchmarks fell by 1% or more in Paris, Tokyo, Sydney and Hong Kong. U.S. futures slipped and oil prices also were lower. On Wednesday, the Fed held its main interest rate steady at its highest level in more than two decades, as was expected. Officials also indicated they may raise the federal funds rate once more this year, as they try to get inflation down to a 2% target. High rates hurt prices for all kinds of investments, and the news cast a pall on trading Thursday. “Moving forward, traders will scrutinize every piece of data from the US, with a particular emphasis on inflationary indicators, to gauge the potential for prolonged high rates,” Anderson Alves of ActivTrades said in a commentary. Germany’s DAX declined 0.7% to 15,673.52 and the CAC 40 in Paris retreated 1% to 7,262.44. Britain’s FTSE 100 gave...

Talks have opened on the future of Nagorno-Karabakh as Azerbaijan claims full control of the region

Published Sat, 22 Feb 2025 10:42:18 GMT

Representatives from Nagorno-Karabakh and the Azerbaijan government are meeting for talks Thursday to discuss the future of the breakaway region Azerbaijan claims to fully control following a military offensive this week.Nagorno-Karabakh authorities and the Azerbaijan State News Agency say the talks Thursday between regional leaders and the Baku government will focus on Nagorno-Karabakh’s “reintegration” into Azerbaijan. The talks come after local Armenian forces in Nagorno-Karabakh agreed to lay down their weapons following the latest outbreak of fighting in the decades-long separatist conflict.According to the Azerbaijan State News Agency, a delegation from Nagorno-Karabakh, accompanied by Russian peacekeepers, arrived for talks in the Azerbaijani city of Yevlakh which is about 100 km (62 miles) north of Stepanakert, Nagorno-Karabakh’s regional capital.Authorities in the ethnic Armenian region that has run its affairs without international recognition since fighting broke ou...

3 South Africa navy personnel die after they are swept off a submarine deck during supply operation

Published Sat, 22 Feb 2025 10:42:18 GMT

CAPE TOWN, South Africa (AP) — Three South African navy personnel died and a senior officer was in a critical condition after seven crew members of a submarine were swept off its deck by big sea waves as a helicopter attempted a “vertical transfer” of supplies, the Department of Defence said Thursday.Wednesday’s accident happened as an Air Force Lynx helicopter was attempting what’s known as a “vertrep” – or vertical replenishment – of supplies to the SAS Manthatisi submarine on the ocean surface off the coast of Cape Town, the department said.The operation was immediately called off and a rescue effort was launched.All seven submariners were recovered, but three were pronounced dead. A crew member from the helicopter who was dispatched as a “surface swimmer” to assist in the rescue operation was also recovered and is in the hospital alongside the four surviving submariners.The National Sea Rescue Institute and other emergency services were called...

Singapore police uncover more gold bars, watches and other assets from money laundering scheme

Published Sat, 22 Feb 2025 10:42:18 GMT

KUALA LUMPUR, Malaysia (AP) — Singapore police uncovered more luxury watches, gold bars and other assets from a massive money laundering scheme that was busted last month, they said, bringing the total amount of assets seized or frozen to 2.4 billion Singapore dollars ($1.75 billion).The police had launched further operations related to a group of foreign nationals suspected to be involved in laundering the proceeds of their organized criminal activities, including scams and online gambling, police said in a statement on Wednesday.The latest action followed multiple other raids across the city-state last month that saw properties, vehicles, luxury goods and gold bars worth SG$1 billion ($731 million) seized or frozen. Nine men and a woman from Cyprus, Turkey, China, Cambodia and Vanuatu have been charged in court.The case has cast a shadow on Singapore’s status as a financial hub known for its low crime and clean image.The latest operations saw additional assets seized or froz...

In the news today: Canada promotes carbon pricing at UN

Published Sat, 22 Feb 2025 10:42:18 GMT

Here is a roundup of stories from The Canadian Press designed to bring you up to speed on what you need to know today…Canada showcases tragic wildfire season to promote carbon pricing initiative at UNThe federal government is hoping Canada’s devastating wildfire season sparks momentum for carbon pricing at the United Nations. Prime Minister Justin Trudeau was the big draw at a UN event Wednesday aimed at encouraging countries to put a price on pollution, but two of the heroes from a fearsome summer of wildfires ended up stealing the show. West Kelowna fire Chief Jason Brolund’s harrowing story of a 36-hour battle to keep the flames out of his B.C. city earned a partial standing ovation. And assistant Halifax fire Chief Sherry Dean described how some of her crew members pulled people to safety as their homes went up in flames. Trudeau used the moment to promote carbon pricing as a way for the leaders of UN member countries to stand by their first responders. —...

Emergency manager to take the stand for third day at ‘Freedom Convoy’ trial

Published Sat, 22 Feb 2025 10:42:18 GMT

Ottawa’s emergency services manager is expected to take the stand for a third day in the criminal trial of two “Freedom Convoy” organizers. Tamara Lich and Chris Barber are co-accused for their role in the protest that blocked city streets around Parliament Hill and nearby residential areas. Kim Ayotte oversees city bylaw enforcement, paramedic and fire services and the department responsible for special events. Earlier this week he testified about some of the traffic, noise and other disruptions he witnessed during the protest. He also talked about working with Barber on a deal between protest organizers and the city to move trucks out of residential neighbourhoods.That plan ultimately failed after an incident involving police, but Ayotte says he was given only limited information as to what happened.This report by The Canadian Press was first published Sept. 21, 2023.The Canadian Press<!– Photo: 2023092018098-650b6d6811c162830beb3c6ejpeg.jpg, Caption: Ot...

B.C. First Nation to provide update on probe into three former residential schools

Published Sat, 22 Feb 2025 10:42:18 GMT

MISSION, BRITISH COLUMBIA — A Fraser Valley, B.C., First Nation is expected to provide an update on its work into missing children and unmarked burials at three former residential school sites.The investigation was launched after ground-penetrating radar located what are believed to be more than 200 graves at a former residential school in Kamloops in May 2021, prompting similar searches and findings in several provinces.Stolo First Nation says its initiative focuses on St. Mary’s Residential School in Mission, Coqualeetza Industrial Institute/Residential School in Chilliwack and All Hallows School in Yale, and the Coqualeetza Indian Hospital.It says its Taking Care of Children team has been studying archival, oral historical and on-site remote sensing work in search of identifiable unmarked graves.A post to the Stolo Nation’s website, dated December 2021, says the work for the project had begun that August and would be following a three-year plan.The statement says remote sen...

Canada showcases tragic wildfire season to promote carbon pricing initiative at UN

Published Sat, 22 Feb 2025 10:42:18 GMT

NEW YORK — The federal government is hoping Canada’s devastating wildfire season sparks momentum for carbon pricing at the United Nations. Prime Minister Justin Trudeau was the big draw at a UN event Wednesday aimed at encouraging countries to put a price on pollution. But two of the heroes from a fearsome summer of wildfires ended up stealing the show. West Kelowna fire Chief Jason Brolund’s harrowing story of a 36-hour battle to keep the flames out of his B.C. city earned a partial standing ovation. And assistant Halifax fire Chief Sherry Dean described how some of her crew members pulled people to safety as their homes went up in flames. Trudeau used the moment to promote carbon pricing as a way for the leaders of UN member countries to stand by their first responders. It was “36 hours that felt like 100 years,” Brolund said as he described his marathon shift in mid-August fighting the blazes that were threatening his community in the B.C. Interior. A fell...

Alberta set to release report on benefits, drawbacks of quitting Canada Pension Plan

Published Sat, 22 Feb 2025 10:42:18 GMT

CALGARY — Premier Danielle Smith is set to release a report that could lead to a vote on whether Alberta should ditch the Canada Pension Plan.Smith, along with Finance Minister Nate Horner and panel chair Jim Dinning, are to release the report at a news conference in Calgary.Both the United Conservative premier and her predecessor, Jason Kenney, have expressed support for the potential of a go-it-alone program, given Alberta’s wealth and comparatively young population.The Opposition NDP says it has received leaked details of what is coming in the report and says Albertans should prepare for some flawed estimates on the benefits of quitting CPP.Economist Trevor Tombe says he’s interested in how the province plans to balance the potential short-term benefits versus the long-term volatility.Smith has said regardless of the report’s conclusions, Albertans would have the final say on whether to abandon CPP in a referendum.This report by The Canadian Press was first publ...

Daily horoscope for September 21, 2023

Published Sat, 22 Feb 2025 10:42:18 GMT

Moon Alert: There are no restrictions to shopping or important decisions today. The Moon is in Sagittarius.Happy Birthday for Thursday, Sept. 21, 2023:You’re curious about everything because you have a strong sense of adventure and lust for life. You probe deeply. You are in the first year of a nine-year cycle, which means be open to everything. Be courageous and ready to explore new directions. It’s time for a major change.ARIES(March 21-April 19) ★★★★★This is a strong, happy day for you! Relations with others will flow smoothly and be affectionate. In fact, romance is favored! You will also put a lot of energy into doing something to expand your world, especially through travel or making travel reservations. (It’s nice to have something to look forward to.) Tonight: Explore!TAURUS(April 20-May 20) ★★★★Issues related to work, your health or dealing with a pet are favored today. Discussions related to home and real estate, especially about finances or responsibilit...