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BoE lifts rates after inflation comeback

Published Tue, 05 Nov 2024 05:49:23 GMT

The Bank of England raised interest rates by a quarter point to 4.25 percent, as policymakers remained focused on battling inflation even as concerns over the health of the global financial system linger. The Bank’s monetary policy committee voted 7-2 to increase the key interest rate. Two members preferred to maintain the Bank Rate at 4 percent, the BoE said in a statement today. Analysts had expected another rise in interest rates before the recent turmoil in financial markets sparked speculation that policymakers may put increases on hold. Latest inflation data, which defied expectations that the U.K. had left double-digit inflation levels behind, tipped the balance on the Committee in favor of tightening.On Wednesday, data released by the Office for National Statistics showed inflation quickened to 10.4 percent in February, from 10.1 percent the previous month. At its previous policy meeting, the Old Lady of Threadneedle street signaled that it may too soon to pause its hiking c...

Woman accused of attacking Lynn police before rough arrest facing charges

Published Tue, 05 Nov 2024 05:49:23 GMT

A woman who Lynn police say attacked and bit officers at a rooming house before being repeatedly punched in the face and pepper-sprayed is set to face a judge on Friday after officials released body camera video showing her violent arrest. A use-of-force investigation is underway into the arrest of Jessica Wagle, 39, who will be arraigned in Lynn District Court on charges including assault and battery on a police officer, resisting arrest, and disorderly conduct, according to police.The release of the 8-minute body camera video, which was posted to the department’s Facebook account, came after witness video was posted online that showed an officer repeatedly punching Wagle in the face while she struggled and resisted arrest.WARNING THIS VIDEO IS GRAPHICOne of the officers also said she reached for his weapon during the arrest.The longer video shows two officers repeatedly asking Wagle to leave the room she was standing in before attempting to physically remove her. She can al...

Animal Rescue League marks National Puppy Day with reminder about rescue pups

Published Tue, 05 Nov 2024 05:49:23 GMT

The Animal Rescue League of Boston is reminding prospective adopters this National Puppy Day that now is the perfect time to add a new puppy, or adult dog, to your family!Twice a month, ARL welcomes in puppies and dogs from other regions of the country through the American Society for the Prevention of Cruelty to Animals (ASPCA) Animal Relocation Program, which transports dogs from overcrowded shelters to regions like New England where the demand for adoptable animals is high.Due to overcrowding and a lack of resources, these animals are often at risk of needless euthanasia and ARL is privileged to be able to give these puppies and dogs the homes and lives they deserve.When these animals arrive at ARL, they receive comprehensive veterinary exams, vaccinations, spay/neuter surgery, and are microchipped.ARL is currently caring for more than a dozen puppies, but also has numerous adult dogs looking for their perfect homes, and to see who is available at&nb...

Wall Street points higher on modest Fed hike and sentiment

Published Tue, 05 Nov 2024 05:49:23 GMT

U.S. futures rose modestly Thursday, a day after the Federal Reserve raised its key interest rate while hinting that the end may be near for its economy-chilling policies.Futures for the benchmark S&P 500 rose 0.5% before the bell, while the Dow Jones industrials edged up 0.2%.The Fed raised its key overnight rate by a quarter of a percentage point Wednesday, the same size as its last increase, in its campaign to drive down inflation. That effort has been complicated by turmoil in the banking sector, with investors worried that more banks might fail after Silicon Valley Bank’s recent collapse.The Fed’s move was exactly what Wall Street was expecting. The bigger question was where the Fed is heading next. There, the Fed gave a hint it may not hike rates much more as it assesses the fallout from the banking industry crisis.Instead of repeating its statement that “ongoing increases will be appropriate,” the Fed said Wednesday that it now only sees “some additio...

Cactus League report: Why Lucas Giolito likes the cooler weather in Arizona — and the back-end backbone of the Cubs bullpen

Published Tue, 05 Nov 2024 05:49:23 GMT

The long ball carried the Cubs offense Wednesday.Cody Bellinger, Edwin Ríos and Christopher Morel all homered in a 4-2 win against the Oakland Athletics. Ríos’ two-run homer and Morel’s solo homer were each their fourth of the spring, leading the Cubs. In a bullpen game, nine pitchers combined to strike out eight A’s and walk three.Meanwhile, left-hander Drew Smyly pitched in a minor-league game against the Arizona Diamondbacks at Sloan Park. He threw 80 pitches in five scoreless innings, limiting them to two hits with seven strikeouts and three walks.The Sox went 0-for-2 in split-squad action, falling 2-0 to the Texas Rangers in Peoria, Ariz., and 4-3 to the Kansas City Royals at Camelback Ranch.Mike Clevinger allowed one run on three hits with three strikeouts and one walk in five innings against the Rangers.“It was good to finally get out there and extended a little bit and get to roll the lineup over again and being able to work with (catcher) S...

Rahul Gandhi gets 2 years for Modi defamation in India

Published Tue, 05 Nov 2024 05:49:23 GMT

NEW DELHI (AP) — An Indian court found opposition leader Rahul Gandhi guilty of defamation Thursday over his remarks about Prime Minister Narendra Modi’s surname and sentenced him to two years in prison.The case against Gandhi dates back to an election rally in 2019 where he said, “Why do all thieves have Modi as their surname?” In his speech, he then went on to name fugitive Indian diamond tycoon Nirav Modi, banned Indian Premier League boss Lalit Modi, and Narendra Modi. Narendra Modi is not related to either of the other two.The defamation case against Gandhi was filed by a leader of the ruling Bharatiya Janata Party in western Gujarat state. The complainant, Purnesh Modi, said Gandhi’s comments had “defamed the entire Modi community.”Modi is a common last name in western Gujarat state.Gandhi, who was present in the court when the verdict was announced, said his remarks were meant to highlight corruption and were not directed against any community. He won’t go to jail immediately...

US jobless claims inch down as labor market remains tight

Published Tue, 05 Nov 2024 05:49:23 GMT

The labor market continues to defy Federal Reserve attempts at loosening it, with U.S. applications for unemployment benefits down again last week and remaining at historically low levels.Jobless claims in the U.S. for the week ending March 18 fell by 1,000 to 191,000 from the previous week, the Labor Department said Thursday.The four-week moving average of claims, which flattens out some of week-to-week volatility, fell by 250 to 196,250, remaining below the 200,000 threshold for the ninth straight week.Applications for unemployment benefits are seen as a barometer for layoffs in the U.S.About 1.69 million people were receiving jobless aid the week that ended March 11, an increase of 14,000 from the week before. That number is close to pre-pandemic levels.Matt Ott, The Associated Press

Bombardier raising financial objectives for 2025, now targeting US$9B in revenue

Published Tue, 05 Nov 2024 05:49:23 GMT

MONTREAL — Bombardier Inc. is raising its financial objectives for 2025.The aircraft maker says the upgrade is based on strong business execution and fundamentals.Bombardier, which keeps its books in U.S. dollars, says it is now targeting more than US$9 billion in revenue for 2025, up from about US$7.5 billion.It is also increasing its objective for adjusted earnings before interest, taxes, depreciation and amortization to more than US$1.625 billion for 2025, up from about US$1.5 billion.Free cash flow for 2025 is now targeted to be more than US$900 million, up from more than US$500 million.Bombardier chief executive Éric Martel says all of Bombardier’s strategic priorities are on track or ahead of plan. “We are therefore proud to announce today that we are confidently raising the bar,” Martel said in a statement.This report by The Canadian Press was first published March 23, 2023.Companies in this story: (TSX:BBD.B)The Canadian Press

UK central bank hikes rates like Fed amid financial turmoil

Published Tue, 05 Nov 2024 05:49:23 GMT

LONDON (AP) — The Bank of England focused on fighting inflation, announcing an 11th consecutive interest rate increase Thursday despite concerns about the economic fallout from troubles in the global financial system.Britain’s central bank boosted its key rate by a quarter-percentage point to 4.25%, a day after the U.S. Federal Reserve approved a similar move to tame inflation that is crimping household budgets and slowing economic growth.The decision by the bank’s Monetary Policy Committee came after the U.K. statistics agency surprised policymakers Wednesday by reporting that inflation accelerated to 10.4% in February, driven by the cost of food, clothing and dining out. Before the figures were released, many analysts had expected the Bank of England to keep rates on hold following the collapse of two U.S. banks and the ensuing troubles at Switzerland’s Credit Suisse, which forced a hastily arranged takeover by rival UBS. The bank will “continue to monitor closely indication...

Zellers is back. First locations open today, including 3 GTA stores

Published Tue, 05 Nov 2024 05:49:23 GMT

Zellers is officially back.The first Zellers concept stores are opening Thursday in Ontario and Alberta, with each new location inside a select Hudson’s Bay location. (Full list below)Hudson’s Bay Co.(HBC), the parent company of Zellers, has said the new stores will “tap into the nostalgia of the brand Canadians know and love, while introducing a refreshed identity and a unique and exciting product assortment for families at everyday value.”The return of the discount retailer comes as inflation pushes consumers toward cheaper shopping options.Nine of the 12 stores opening on Thursday are in Ontario, including at Erin Mills Town Centre, Scarborough Town Centre, and Burlington Mall in the GTA. There will eventually be 25 locations in seven provinces across the country.The company says the new stores are up to 10,000 square feet, but sizes vary depending on the location.Zellers locations opening on March 23:OntarioErin Mills, MississaugaBurlington Mall, BurlingtonWhit...