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Stocks fall, bond yields tumble after Fed’s latest rate hike

Published Thu, 26 Dec 2024 18:51:56 GMT

NEW YORK (AP) — Stocks fell after the Federal Reserve announced its latest hike to interest rates, while also saying it may not tighten the screws much more on the economy. The S&P 500 fell 1.6% Wednesday, while Treasury yields fell sharply. The Fed raised its key overnight rate by a quarter of a percentage point, the same size as its last increase, in its campaign to drive down inflation. It also said it may raise rates only one more time as it assesses the fallout from the crisis hitting the banking industry. Banks have been struggling under the weight of much higher rates.THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.NEW YORK (AP) — Stocks are mixed Wednesday after the Federal Reserve announced its latest hike to interest rates, while also saying it may not tighten the screws much more on the economy and Wall Street.The S&P 500 was 0.2% higher in late trading. The Dow Jones Industrial Average was down 35 points, or 0.1%, at 32,525, as of 3:22 p.m. Easte...

Rishi Sunak’s multi-million-pound tax affairs ‘snuck out’ during Boris Johnson grilling

Published Thu, 26 Dec 2024 18:51:56 GMT

LONDON — Rishi Sunak’s multi-million-pound tax affairs were released Wednesday — with timing that cynics suggested guaranteed being overshadowed by Boris Johnson’s Partygate grilling.The three years’ worth of information relating to his tax returns showed the prime minister made just over £1 million in income and £3.7 million in capital gains between 2019-20 and 2021-22, according to a three-page summary by his accountants.In the three-year period, the PM paid just over £1 million in U.K. tax.Sunak had promised last July to publish his tax affairs if he became Tory leader. But the timing of the release — as his predecessor Johnson faced more than three hours of questioning over his account of No. 10 COVID rule-breaking in 2020 — raised eyebrows.The documents were published just over half an hour before the end of Johnson’s marathon session at the Privileges Committee, which is investigating whether he misled parliament. The hearing had been highly anticipated...

5 things we learned from Boris Johnson’s marathon Partygate grilling

Published Thu, 26 Dec 2024 18:51:56 GMT

LONDON — A highly-charged grilling of Boris Johnson by the committee investigating whether he deliberately misled parliament produced testy exchanges — but no smoking gun.The cross-party committee of MPs has been looking into Johnson’s statements to the House of Commons as the Partygate scandal broke, after it emerged he had given inaccurate accounts of events at 10 Downing Street during the COVID lockdown.If they rule against Johnson, the MPs could recommend a suspension from parliament — though any bans lasting longer than 10 days would be subject to a Commons vote. A verdict won’t come for at least another three weeks.The showdown is seen as make-or-break for Johnson’s prospects of a political come-back, as any ban over 10 days would see him liable to a recall petition to trigger a by-election in his Uxbridge constituency.Anyone tuning in to the committee expecting a killer blow would have been disappointed — but there was still plenty to pore over from the leng...

Macron’s nuclear power plan hits trouble

Published Thu, 26 Dec 2024 18:51:56 GMT

French President Emmanuel Macron is facing an uphill battle to persuade EU leaders to designate nuclear energy as a key green technology of the future, after one of his allies blasted his plan on the eve of a summit in Brussels. Luxembourg’s Prime Minister Xavier Bettel told POLITICO in an interview that while it is up to individual countries to choose their own energy mix, nuclear power must not benefit from an official “European label” that would give the vital French industry a boost. Bettel’s criticism risks reinforcing divisions between Macron and his fellow leaders as they meet in Brussels to discuss the green tech plans at the European Council summit starting Thursday. “Nuclear is neither sustainable, nor safe, nor fast,” Bettel said in an interview.  “Some people think they are selling nuclear power as the answer to everything,” he continued, but pointed out that it can take at least 10 years for a plant to be operational.“Secondly, we have had incide...

Residents rattled after shooting of 15 year old boy in Lynn; Police still searching for shooter

Published Thu, 26 Dec 2024 18:51:56 GMT

A teenage boy is recovering this week as a search continues for a shooter who police said opened fire Tuesday, shooting the teen four times in broad daylight in Lynn. In the neighborhood Wednesday, where bullets flew roughly 24 hours earlier, residents were rattled recounting the incident. “I don’t know if I can go outside and be safe,” 13-year-old Annailyah Figwood said “I’m just scared.”The incident happened on Fayette Street Tuesday afternoon, where one witness said he heard “five or six shots.” Billy Hukill, who lives close to the scene, said she raced out of her house when she heard the gunshots, only to find the victim bleeding on the ground. Hukill said she jumped in to help.“He was asking me, ‘Please don’t let me die. Can I please have some water? Please don’t let me die.’” Hukill said. “I have four kids and it’s a kid,” Hukill said. “Cars were driving past and weren’t helping him. So I ran down here as fast as I could.” Hukill said she made it to the scene in...

Garbage truck snags power lines in Newton

Published Thu, 26 Dec 2024 18:51:56 GMT

A garbage truck snagged power lines in Newton on Wednesday, knocking out power to the surrounding area and drawing emergency crews to the scene. Police said the truck ran into trouble just before 10 a.m. at the intersection of Intervale and Edge Hill roads in Newton’s Chestnut Hill area. SKY7 cameras over the scene after the incident showed a power pole leaning over the truck.Police said the truck snagged “a few” power lines, causing power to be shut down in the immediate area as a precaution. Police said the truck had been disentangled from the wires as of around 2 p.m., with power expected to be turned back on shortly. No one was injured in this incident, according to police. 

Manchester, N.H. police investigating vandalism at cemetery 

Published Thu, 26 Dec 2024 18:51:56 GMT

An investigation was underway in Manchester, N.H. Wednesday after incidents of vandalism at Manchester’s Merrill Cemetery.Police said headstones were knocked over. Some headstones were shattered. Others, police said, were covered in gold paint. Police said an estimated $20,000 worth of damage had been done to more than a dozen gravestones. Police asked anyone with information about this incident to call Manchester Police at 603-668-8711. Those who wish to remain anonymous can call the Manchester Crimeline at 603-624- 4040.

Orioles observations on potential impact of Mychal Givens’ sore left knee, late-spring mechanical tweaks and more

Published Thu, 26 Dec 2024 18:51:56 GMT

Orioles reliever Mychal Givens’ status for opening day is in question as the right-hander deals with a sore left knee, an ailment that muddles the club’s bullpen competition with spring training nearing a close.Manager Brandon Hyde said Givens, who hasn’t pitched since Thursday, has been held out due to “precautionary measures” to manage the soreness in his landing leg knee.“The knee’s been bothering him, the knee’s sore,” Hyde said. “He’s gonna be hopefully ready to go in a few days, but we’ll see.”Could the knee issue prevent Givens from breaking camp in the big leagues?“Hopefully not,” Hyde said, adding that the goal is for Givens to throw on the back fields in a few days.The Orioles signed Givens to a $5 million contract this offseason in a move to offer stability to a mostly young and inexperienced bullpen. Several of the Orioles’ top relievers in 2022 — including Félix Ba...

Ex-Patriots P Jake Bailey blames 2022 struggles on one change

Published Thu, 26 Dec 2024 18:51:56 GMT

Former Patriots punter Jake Bailey sat for an introductory press conference Wednesday in Miami, where he recently signed a 1-year deal with the Dolphins.Asked about his struggles in New England, he gave an unexpected reason: squatting.Bailey said the exercise threw him off last season, when he ranked dead last in yards per punt and net punting average. The 25-year-old also missed several weeks on injured reserve with a listed back injury.“A lot of it had to do with squatting a ton. I did not grow up squatting, loading my back with back squats. I didn’t do it at all in college. I tried to be more a part of the program, and it just really backfired the whole season I was doing it,” Bailey said, via the Palm Beach Post.“It really made my accuracy struggle. And it just was kind of a sad, sad thing to have to happen. I haven’t squatted since, really, Week 15 or 16 and feel pretty good.”Aside from saying it had been resolved, Bailey declined to comment on the grievance he filed afte...

2 faculty members shot at Denver’s East High School, police seek public’s help in finding suspect

Published Thu, 26 Dec 2024 18:51:56 GMT

Austin Lyle is wanted on the charge of attempted homicide. (Photo provided by Denver Police Department)A student at Denver’s East High School shot two administrators Wednesday morning — leaving one critically injured — while the teen was being searched for weapons, police officials said.Denver police identified the suspect — who was still at large hours after the shooting — as 17-year-old Austin Lyle, who was last seen wearing a green hoodie and is believed to be associated with a 2005 Red Volvo XC90 with Colorado license plate BSCW10.Denver police Chief Ron Thomas said the shooting occurred during a “security search” of Lyle based on past behavior — “a regular protocol with this student” — that detected a gun. The student fired shots around 9:50 a.m. “and was able to get out of the school.”Lyle is required to be searched when he arrives at school every morning as part of a pre-existing safety plan, but ad...