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Wall Street climbs as some beaten-down bank stocks recover

Published Mon, 13 Jan 2025 10:43:14 GMT

By STAN CHOE and ALEX VEIGA (AP Business Writers)Stocks are broadly higher on Wall Street Tuesday, as some of the most breathtaking moves from a manic Monday reverse course. The S&P 500 was 0.8% higher in afternoon trading after a report showed inflation is still high but heading lower. Stocks of smaller and mid-sized banks recovered some of their prior plunges caused by worries that customers could yank out all their cash. Treasury yields soared to trim their historic drops. The Dow Jones Industrial Average was up 58 points, or 0.2%, at 31,885, as of 2:21 p.m. Eastern time, while the Nasdaq composite was 1.2% higher. The major indexes’ gains eased by midafternoon after a strong morning rally.A week ago, Wall Street was expecting Tuesday’s report on inflation to be the most important data of the week, if not month. The worry at the time was that inflation is staying stubbornly high, which could force the Federal Reserve to pick up the pace again on its hikes to inte...

Jets in talks with former Packers receivers Allen Lazard and Randall Cobb: report

Published Mon, 13 Jan 2025 10:43:14 GMT

As the world continues to wait on word from Aaron Rodgers, the Jets appear to be close to adding a couple of his friends.According to ESPN’s Adam Schefter, Gang Green is close to adding Packers wide receiver Allen Lazard, who is a free agent. The team is also targeting wide receiver Randall Cobb, who is one of Rodgers’ best friends and has played 10 seasons in Green Bay with the veteran quarterback.The Jets are still awaiting Rodgers’ decision regarding his future as he could retire, accept a trade to the Jets or return to the Packers — although that seems less likely. On the first day of free agency, current NFL insider and former ESPN personality Trey Wingo said he heard, “Rodgers to the Jets is done.” However, sources said nothing has been finalized.If they are trying to convince Rodgers to join the Jets, adding familiar faces isn’t the worst thing in the world. Last season, Lazard recorded 60 receptions for 788 yards and six touchdowns a...

Recipe: A shepherd’s pie perfect for St. Patrick’s Day

Published Mon, 13 Jan 2025 10:43:14 GMT

Linda Gassenheimer | Tribune News ServiceAround this time of year with St. Patty’s Day coming up, shepherd’s pie comes to mind. The pie has a savory meat filling topped with mashed potatoes and cheese. It’s usually made with lamb or ground lamb, but it is also made with ground beef and then called cottage pie. There’s always a discussion whether the pies are Irish or English. The answer is both. Either way, enjoy this quick dinner.I used 95% lean ground beef. If you prefer lamb, ask the butcher for lamb cubes cut from the leg and cut these into half-inch cubes.To shorten making the mashed potato topping, I cook the potatoes in the microwave and mash them in a food processor. It saves time and an extra pot to wash. If you don’t have access to a microwave, add the potatoes to a saucepan of cold water, cover with a lid, and boil 10 to 15 minutes, until they are soft.Helpful Hints:— You can use 6 cloves of garlic instead of minced garlic.— You can use any type of shredded cheese.— The r...

San Francisco reparations idea: $5 million per Black person

Published Mon, 13 Jan 2025 10:43:14 GMT

By JANIE HAR (Associated Press)SAN FRANCISCO (AP) — Payments of $5 million to every eligible Black adult, the elimination of personal debt and tax burdens, guaranteed annual incomes of at least $97,000 for 250 years and homes in San Francisco for just $1 a family.These are just some of the recommendations made by a city-appointed reparations committee tasked with a thorny question: What would it take to atone for the centuries of U.S. slavery and generations of systemic racism that continue to keep Black Americans on the bottom rungs of health, education and economic prosperity, and overrepresented in prisons and homeless populations?A first hearing before the city’s Board of Supervisors on Tuesday could offer a glimpse of the board’s appetite for advancing a reparations plan that would be unmatched nationwide in specificity and breadth. Critics have slammed it as financially and politically impossible. One conservative analyst estimated that each non-Black family ...

Quebec man to face charges of dangerous driving causing deaths of two pedestrians

Published Mon, 13 Jan 2025 10:43:14 GMT

AMQUI, Que. — The driver of a pickup truck that killed two people and injured nine others Monday in the Quebec town of Amqui was facing dangerous driving charges after police said he drove into pedestrians chosen at random, including children. Court documents signed Tuesday by a justice of the peace identified the accused as 38-year-old Steeve Gagnon of Amqui.Gagnon was scheduled to appear in court later Tuesday to be charged with two counts of dangerous driving causing death. A spokeswoman for the Crown said more charges will follow once prosecutors receive all the evidence from police.Quebec provincial police said earlier they believe the suspect acted deliberately and with premeditation, but they did not suggest a motive.Provincial police Sgt. Claude Doiron told reporters near the scene that the investigation suggests the driver swerved from one side of the road to the other over a considerable distance to hit victims who ranged in age from a baby to 77 years old.“We’...

If Ottawa wants tighten its purse, spending rules and more taxes could help: experts

Published Mon, 13 Jan 2025 10:43:14 GMT

OTTAWA — As the Liberal government drafts its spring budget, fiscal experts say it should consider stricter spending rules and higher taxes to improve federal finances.The budget comes at a time when the government is facing pressure to rein in spending so as to not work against the Bank of Canada’s inflation-fighting efforts. The central bank has aggressively raised interest rates over the last year to dampen spending by consumers and businesses. Excessive fiscal stimulus could reverse some of that work. Canada could also experience a recession this year that would affect government revenues. Faced with these challenges, Finance Minister Chrystia Freeland has stressed that her government is committed to fiscal responsibility.“Fiscal responsibility is really important and I’m very conscious we’re putting this budget together at a time of meaningful fiscal constraint,” Freeland said last week, days before announcing the budget will be tabled on March 28....

Lawmakers fear spill on Keystone system in southern Kansas

Published Mon, 13 Jan 2025 10:43:14 GMT

TOPEKA, Kan. (AP) — State lawmakers worried Tuesday that southern Kansas is vulnerable to oil spills from the Keystone pipeline system because earthquakes have become more frequent there, as they questioned an executive for the pipeline’s operator about a massive spill in northeastern Kansas in December.Gary Salsman, a vice president for field operations for Canada-based TC Energy, was briefing three Kansas legislative committees about the Dec. 7 rupture on the Keystone pipeline in Washington County, Kansas, about 150 miles (240 kilometers) northwest of Kansas City. It was the largest U.S. onshore spill in nearly nine years, and the company expects to spend $480 million cleaning it up, with those efforts lasting at least into the summer. Salsman told a joint meeting of the Kansas House energy committee and its water committee that safety is TC Energy’s top priority and that the company will stay in Washington County until the cleanup is complete. He was also expected to ...

Italian government limits parental rights of gay couples

Published Mon, 13 Jan 2025 10:43:14 GMT

MILAN (AP) — Gay rights activists on Tuesday denounced as homophobic moves by Italian Premier Giorgia Meloni’s far-right-led government to limit recognition of parental rights to the biological parent only in the case of same-sex parents.The city of Milan has been told to stop officially recording both parents in same-sex couples on city registers. It was the last major city to continue the practice that had been briefly adopted in Rome, Turin, Naples and elsewhere after Italy’s high court in 2016 made it easier for gays to adopt a partner’s biological child.The piece of bureaucracy is key to recognizing parental rights for a range of everyday situations like authorizing medical treatment or participation in class outings. The president of Rainbow Families, Alessia Crocini, charged that Rome’s move ordering Milan to stop automatically registering both parents in same-sex households exposed the government’s homophobia.“This government is the maximum expression of homophob...

Macron launches 500-day countdown to Paris Olympics

Published Mon, 13 Jan 2025 10:43:14 GMT

PARIS (AP) — French President Emmanuel Macron launched the 500-day countdown to the 2024 Paris Olympics and Paralympics on Tuesday, bringing the public up to date with his government’s hopes for the Games, including the ambitious use of the Seine.Macron addressed hundreds of officials at a “speech of thanks” in the Paris police headquarters, saying that though plans are advancing “nothing should be taken as a guarantee.”“All that remains for us are 500 short days that separate us from the extraordinary events that are the Olympic Games and the Paralympic Games, (where) we are going to host the world,” Macron said.In the speech and on Twitter, Macron thanked the 45,000 volunteers mobilizing to make the Games “a success” and again trumpeted the 5,000 new sports grounds that are in the works. Officials are pushing to get infrastructure and sites ready in time, with projects pockmarking many of Paris’ boulevards.Macron also made reference to the ambitious 1.4-billion-euro ($1.5 bi...

Polish Church defends John Paul sainthood after abuse claims

Published Mon, 13 Jan 2025 10:43:14 GMT

WARSAW, Poland (AP) — The leaders of Poland’s Catholic Church on Tuesday defended the late John Paul II’s sainthood and fast-track canonization process in response to a Polish TV report alleging that he covered up clergy sex abuses while archbishop in Poland.The Polish Church figures also said that a commission of experts in various fields — lawyers, doctors, psychologists and historians — will be formed soon to investigate cases of past abuse of minors by the clergy.A report last week on TVN24, which is owned by the U.S. company Warner Bros. Discovery, named three priests whom John Paul allegedly moved around during the 1970s after they were accused of abusing minors. The report cited communist secret security documents but also included interviews with abuse survivors.Speaking after a two-day meeting of the entire Episcopate, the leaders stressed that — although unusually quick — the process that led to announcing Polish-born John Paul a saint was done with utmost care and honesty...