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Stock market today: Global shares slip, echoing Wall Street’s retreat from its rally

Published Mon, 24 Feb 2025 16:25:22 GMT

TOKYO (AP) — Global shares dipped Wednesday after Wall Street took a step back from its big rally as markets tried to digest a slew of earnings.France’s CAC 40 fell 1.3% to 7,311.42 in early trading, while Germany’s DAX dipped 1.4% to 16,007.22. Britain’s FTSE 100 dropped 1.8% to 7,531.78. U.S. shares were set to drift lower with Dow futures down 0.7% at 35,507.00. S&P 500 futures lost 0.9% to 4,558.25. Investor optimism was hurt by Fitch Ratings downgrading the United States government’s credit rating, citing rising debt at the federal, state, and local levels. The rating was cut Tuesday one notch to AA+ from AAA, the highest possible rating. In 2011, the ratings agency Standard & Poor’s stripped the U.S. of its prize AAA rating. Treasury Secretary Janet Yellen said the move by Fitch was based on outdated data, noting the U.S. economy has rapidly recovered from the pandemic recession.“Some negativity was permeating across Asian equity markets mid-week than...

Beijing records 29 inches of rain from Saturday to Wednesday, its most in at least 140 years

Published Mon, 24 Feb 2025 16:25:22 GMT

ZHUZHOU, Hebei (AP) — China’s capital has recorded its heaviest rainfall in at least 140 years over the past few days after being deluged with heavy rains from the remnants of Typhoon Doksuri.The city recorded 744.8 millimeters (29.3 inches) of rain between Saturday and Wednesday morning, the Beijing Meteorological Bureau said Wednesday.Beijing and the surrounding province of Hebei have been hit by severe flooding because of the record rainfall, with waters rising to dangerous levels. The rain destroyed roads and knocked out power and even pipes carrying drinking water. It flooded rivers surrounding the capital, leaving cars waterlogged, while lifting others onto bridges meant for pedestrians. Among the hardest hit areas is Zhuozhou, a small city in Hebei province that borders Beijing’s southwest. On Tuesday night, police there issued a plea on social media for lights to assist with rescue work.It’s unknown how many people are trapped in flood-stricken areas in the...

Striking writers and studios will meet this week to discuss restarting negotiations

Published Mon, 24 Feb 2025 16:25:22 GMT

LOS ANGELES (AP) — Union leaders told striking Hollywood writers Tuesday night that they plan to meet with representatives for studios to discuss restarting negotiations after the first official communication between the two sides since the strike began three months ago. The Writers Guild of America sent an email to members saying that the head of the Alliance of Motion Picture and Television Producers, which represents major studios, streaming services and production companies in negotiations, requested a meeting on Friday to discuss the resumption of contract talks. “We’ll be back in communication with you sometime after the meeting with further information,” the email read. “As we’ve said before, be wary of rumors. Whenever there is important news to share, you will hear it directly from us.”It was not immediately known whether a similar overture was made to union leaders for Hollywood actors, who have been on strike since July 14.Asked about the prospect of talks with either gui...

Thai reformist party will not be part of coalition to form the next government, former ally says

Published Mon, 24 Feb 2025 16:25:22 GMT

BANGKOK (AP) — The Thai political party that won the most seats in May’s general election will not be part of the coalition to form the next government, its former ally said Wednesday, amid strong opposition from conservative lawmakers over its proposed reform of laws surrounding the country’s monarchy.The progressive Move Forward Party, led by Pita Limjaroenrat, was a surprise winner in the election and had pulled together an eight-party coalition with 312 seats in the 500-member lower house.Chonlanan Srikaew, the leader of the Pheu Thai party, the second-biggest party in the coalition, told a news conference Wednesday that other parties and members of the military-appointed Senate could not accept Move Forward’s proposal to amend the country’s strict laws forbidding defamation of the monarchy.Pheu Thai will form the government with other parties, Chonlanan said, and nominate real estate tycoon Srettha Thavisin for prime minister.Pita failed last month in his bid to bec...

In the news today: Fundraiser launched to honour firefighter who died in B.C.

Published Mon, 24 Feb 2025 16:25:22 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…Fundraiser honours firefighter who died in B.C.A fundraiser has been launched to honour the memory of a firefighter killed while fighting British Columbia’s largest wildfire last week.The 25-year-old firefighter who died Friday has been identified as Zak Muise in an online obituary and tribute by the firefighting contractor he worked for.Money is being raised in honour of Muise for the Canadian Critical Incident Stress Foundation which provides support, education and training for first responders, veterans and their families and runs a camp for families and children coping with loss.Vulnerable residents evacuate from Saskatchewan First Nation due to wildfire smokeA First Nation in northern Saskatchewan says it has moved about 300 members out of the community to safety in response to health threats arising from forest fire smoke.The Fond du Lac Denesuline ...

Fundraiser honours Zak Muise, who died fighting wildfire in B.C.

Published Mon, 24 Feb 2025 16:25:22 GMT

A fundraiser has been launched to honour the memory of a firefighter killed while fighting British Columbia’s largest wildfire last week.The 25-year-old firefighter who died Friday has been identified as Zak Muise in an online obituary and tribute by the firefighting contractor he worked for.Money is being raised in honour of Muise for the Canadian Critical Incident Stress Foundation which provides support, education and training for first responders, veterans and their families and runs a camp for families and children coping with loss.A brief online obituary says Muise is survived by his parents and five older siblings.It says he was “loved by many,” and his family is grateful to all firefighters and other first responders “who are still fighting.”A tribute posted by Big Cat Wildfire says Muise was a “vital member” of one of its crews. Muise working to fight the nearly 6,000-square-kilometre Donnie Creek blaze in the province’s nort...

Trump Republican front-runner, indicted for trying to overturn 2020 election results

Published Mon, 24 Feb 2025 16:25:22 GMT

WASHINGTON — “You’re too honest,” Donald Trump allegedly told Mike Pence on the first day of 2021, six days before supporters of a defeated yet defiant president stormed Capitol Hill and tried to subvert the outcome of a free and fair presidential election.That assessment of the former vice-president and his commitment to democracy is just one of the revelations in what is the third — but perhaps most explosive — indictment of Trump to come down in just the last four months. And it comes, remarkably, with the former commander-in-chief seemingly at the height of his post-presidential powers, with polls showing him with a towering lead in the race to challenge Joe Biden for the White House. “The defendant lost the 2020 presidential election,” special counsel Jack Smith writes in the first paragraph of the long-awaited 45-page indictment handed down late Tuesday. “Determined to remain in power,” Trump spent the next two months systematically te...

6.6 million ‘unsafe vehicles’ ply the roads despite safety recalls: Transport Canada

Published Mon, 24 Feb 2025 16:25:22 GMT

OTTAWA — The federal government says some 6.6 million unsafe vehicles are likely on the road despite having unresolved safety recalls.Transport Canada estimated in an analysis from June that one in five of the 33.3 million vehicles registered as of 2019 have outstanding recalls but continue to ply the streets and highways, potentially endangering occupants and other road users.The department is proposing new rules that would require companies that issue a safety recall to quickly post related information on their website in order to boost awareness and fix the defect.The amended regulations would also make car companies provide a lookup tool for vehicle inspection numbers on their websites to provide info on recalls.Ian Jack, vice-president of public affairs at the Canadian Automobile Association, says only a minority of owners find out about recalls, especially if the car is second-hand with the new owner beyond the reach of the dealership.Jack notes that many recalls pertain to mi...

Rejected agreements show workers are fighting to catch up: experts

Published Mon, 24 Feb 2025 16:25:22 GMT

TORONTO — A recent string of rejected tentative agreements across the country is a sign that workers are expecting more from their employers, and their unions, experts said. “Pre-pandemic, union members were content with wage increases that more or less kept pace with inflation,” said Larry Savage, a professor in the labour studies department at Brock University. But the pandemic, inflation and low unemployment have combined to create a heightened environment for union militancy, he said.Last week, workers at 27 Metro grocery stores across the Greater Toronto Area rejected a tentative agreement that had been reached just after a strike deadline.The workers had gone into bargaining with a 100 per cent strike vote, and chose to walk off the job Saturday to fight for more instead of accepting the deal.Kim Coughlin and Samantha Henry, two Metro employees and members of the bargaining committee, said the tentative deal they reached was the best the group has ever achieved — but it ...

Daily horoscope for August 2, 2023

Published Mon, 24 Feb 2025 16:25:22 GMT

Moon Alert: Avoid spending money or making important decisions from 5 p.m. to 11:15 p.m. EDT today (2 p.m. to 8:15 p.m. PDT. After that, the Moon moves from Aquarius into Pisces.Happy Birthday for Wednesday, Aug. 2, 2023:You are energetic, well organized and have clear goals. You think for yourself, and you have your own set of values. This year you are receiving recognition for your past efforts. Expect a raise, a promotion, an award, kudos and acknowledgement. You deserve this. Bravo!ARIES(March 21-April 19) ★★★This is a playful, fun-loving time for you. For some, ex-lovers are back in your world. Postpone important decisions about romance until September. Today a friend or a member of a group will surprise you or catch you off guard. Perhaps a group is changing its mandate. Tonight: Seclusion.TAURUS(April 20-May 20) ★★Home and family are your primary focus right now. Many of you are enjoying redecorating projects and home repairs, along with entertaining at home. Today a parent, ...