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Business Highlights: ‘Soft landing’ signs emerge at central banker meeting; Wall Street wilts

Published Tue, 25 Feb 2025 11:37:32 GMT

___Hopeful signs of an economic ‘soft landing’ emerge in Jackson Hole as Fed meets with world watchingJACKSON HOLE, Wyoming (AP) — Business these days in Jackson Hole, Wyoming, is still good — just not as robust as it was after the U.S. economy roared out of the pandemic recession. As the Federal Reserve prepares to hold its annual economic conference there, its policymakers are trying to guide the nation’s economy toward something akin to what’s happening in Jackson Hole. They have jacked up their key interest rate to a 22-year high to try to slow growth and bring inflation down to their 2% target. Even as they do so, the Fed’s policymakers hope to avoid tipping the economy into a recession — a notoriously difficult achievement that economists call a “soft landing.”___Stock market today: Wall Street wilts as yields rise ahead of speech by Federal Reserve’s PowellNEW YORK (AP) — Wall Street slumped to its worst day in three weeks, despite a blowout profit report from Nvidia. The S&a...

Verdugo, Abreu both homer with 4 hits as Red Sox rout Astros 17-1

Published Tue, 25 Feb 2025 11:37:32 GMT

HOUSTON (AP) — Alex Verdugo hit a leadoff homer with four hits and rookie Wilyer Abreu got his first major league home run among four hits as the Boston Red Sox tagged J.P. France for 10 runs in a 17-1 rout of the Houston Astros on Thursday.The Red Sox set season highs for runs and hits with 24 each, and it was the most runs and hits the World Series champs have allowed this year. Boston has at least one home run in 13 straight games, which is the team’s longest streak since homering in 19 in a row in 2019.Verdugo drove in two runs and Abreu, who made his debut Tuesday, added four RBIs in the victory.___AP MLB: https://apnews.com/hub/mlbSource

Former AP transportation writer Joan Lowy dies at 66

Published Tue, 25 Feb 2025 11:37:32 GMT

WASHINGTON (AP) — Joan Lowy, a veteran Washington journalist who spent the final decade of her career covering transportation issues for The Associated Press, has died. She was 66.Lowy died early Wednesday at her home in Vienna, Virginia, after a 10-year battle with abdominal cancer, said her husband, Michael Christensen.“She was a heck of a reporter,” Christensen, also a journalist, said Thursday about his wife of 33 years. “She loved journalism. She loved the give-and-take and everything.”AP colleagues described Lowy as a gifted newshound who taught them without knowing it. “Joan was a reporter’s reporter: whip smart, an expert on her beat and someone who genuinely loved being in the middle of the news,” said Julie Pace, a senior vice president and executive editor, who worked with Lowy in Washington. “It was so fun watching her dig in on a big story and I, and countless others, learned so much from working alongside her.”Ken Guggenheim, who was Lowy’s editor bef...

Nordstrom’s results reflect cautious consumer spending, echoing department store sector blues.

Published Tue, 25 Feb 2025 11:37:32 GMT

NEW YORK (AP) — Nordstrom on Thursday reported that its sales and profits fell in its fiscal second quarter, joining itsdepartment store peers coping with shoppers’ cautious spending.But its results still topped Wall Street expectations. The Seattle-based upscale department store reaffirmed its financial annual outlook that calls for a sales decline for the year.After initially rising, its stock was down almost 5% in after-markets trading Thursday.Nordstrom’s sales were affected by the timing of the company’s anniversary sale, with one week falling into the third quarter this year compared to one day in 2022. Moreover, last year’s results included a full quarter of sales from its Canadian operations, which the company wound down in June of this year.Nordstrom reported net income of $137 million, or 84 cents per share, for the quarter ended July 29. That compares with $126 million, or 77 cents per share, in the year-ago period.Total sales fell 7.9% to $3.77 billion from $4.09 b...

Democrats in Pennsylvania want to keep a Supreme Court majority. They are talking up abortion rights

Published Tue, 25 Feb 2025 11:37:32 GMT

HARRISBURG, Pa. (AP) — As they try to pad their state Supreme Court majority in a presidential battleground, Democrats in Pennsylvania now hope to harness the same voter enthusiasm for protecting abortion rights that has already helped their side to a string of high-profile election victories.Democrats and their allies are bringing up talk of abortion rights at their rallies and in their ads and are casting a contest for a Pennsylvania high court seat as an existential response to the U.S. Supreme Court’s conservative majority.Some Democrats say voter energy is ever-present as moves to roll back abortion rights in conservative states generate a torrent of news after the U.S. Supreme Court ended nearly a half-century of federal abortion protections by overturning Roe v. Wade last year.“The Republicans made it an issue when they chose to strip away a woman’s right to choose, when they went to court to do that, when they continue to introduce legislation in Pennsylvania to restri...

I-70 reopens at Floyd Hill after loose rock causes rush-hour closure

Published Tue, 25 Feb 2025 11:37:32 GMT

DENVER (KDVR) — Interstate 70 was closed at Floyd Hill Thursday afternoon because of loose rocks after blasting above the highway. No estimated time of reopening was given.The rock is above the highway between U.S. 6 and County Road 65, according to Colorado State Patrol, which posted about the closure at 3:12 p.m. Save this link: Live traffic map from FOX31 U.S. 40 was open. Delays of over 35 minutes were reported. The westbound lanes reopened just before 4:40 p.m. Eastbound I-70 reopened a few minutes later.Delays were already expected on this stretch of I-70 because of ongoing construction work for the Floyd Hill expansion project. This month, crews are rock scaling and blasting along the route. CDOT said Thursday that rock blasting is the reason for the loose rock that's caused the closure.Construction equipment on I-70 at mile point 246.60 at Homestead Road W. as seen on on Aug. 24, 2023. (Credit: Colorado Department of Transportation)I-70 Floyd Hill construction underwayA re...

Denver Mayor Johnson announces 11 potential short-term housing sites

Published Tue, 25 Feb 2025 11:37:32 GMT

DENVER (KDVR) — On Thursday, Denver Mayor Mike Johnston announced a preliminary list of 11 potential sites for short-term housing for those experiencing homelessness.Following an encampment sweep at 17th and Logan earlier that day, Johnston provided an update on the homelessness state of emergency. Mayor Mike Johnston declares emergency over homelessness in Denver During the conference, Johnston shared the 11 locations for the potential sites:1498 N. Irving St. - micro-community 5500 E. Yale Ave. - micro-community 1380 S. Birch St. - micro-community 950 W. Alameda Ave. - micro-community 2301 S. Santa Fe Drive - micro-community 4595 N. Quebec St. - hotel 12033 E. 38th Ave. - hotel/micro-community 3700 Galapago St. - micro-community 1199 N. Bannock St. - micro-community 1375 N. Elati St. - micro-community 5000 Tower Road - micro-communityMayor Mike Johnston announced a preliminary list of potential sites for micro-community and hotel unit locations for persons experiencing homelessn...

Fire causes black smoke to billow out of Sheraton Hotel

Published Tue, 25 Feb 2025 11:37:32 GMT

DENVER (KDVR) — Heavy black smoke was pouring out of the Sheraton Denver Downtown Hotel after a diesel fire.FOX31 cameras captured black smoke coming from the roof of a downtown hotel. According to the Denver Fire Department, they are on scene of a fire at the Sheraton Denver Downtown Hotel located at 1550 Court Place. FOX31 Newsletters: Sign up to get breaking news sent to your inbox Denver Fire said a rooftop boiler was overfilled with diesel and the excess was burning off producing that dark smoke.At this time, no injuries have been reported.Denver Fire said smoke will be coming from the roof on and off for the next hour while they monitor the burn. FOX31 has a crew on the way to learn more.

TROPICAL TROUBLE FOR SOUTH FLORIDA?

Published Tue, 25 Feb 2025 11:37:32 GMT

Happy Thursday, South Florida!Hopefully everyone has had a nice week so far. Breezy conditions all week long have helped temperatures remain in check and near average.  This is a very different weather pattern than what South Florida has been experiencing all summer long. Today South Florida did see some changes though. Slightly lighter wind speeds allowed our afternoon high temperatures to reach into the mid 90s for some. This left us a few degrees above average for the first time in almost a week. And while a few showers moved into our area late in the day, overall it was a nice summer afternoon for South Florida. Tonight South Florida can still expect a few showers & isolated thunderstorms through this evening before turning quiet late tonight. After seeing a few more showers in the forecast today, drier air is forecast to move in once again, decreasing our rain chances for the end of the week and keeping a typical summer-like weather pattern for South Florida for the upcomi...

Pedestrian airlifted after being struck by car that jumped curb in Miami Gardens

Published Tue, 25 Feb 2025 11:37:32 GMT

Rescue crews airlifted one person to the hospital after they were struck by a car in Miami Gardens.Miami Gardens Police and Miami-Dade Fire Rescue units responded to the scene of the crash along State Road 7, near Northwest 204th Street, Thursday afternoon.The driver jumped a curb and came to a stop after hitting a palm tree and some parked cars.Paramedics airlifted the victim to Jackson North Medical Center as a trauma alert. The patient’s condition is unknown.