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Stock market today: Markets bounce back modestly with focus still on retail sector, consumers

Published Tue, 25 Feb 2025 13:16:07 GMT

TOKYO — Wall Street bounced back modestly early Wednesday with more big retailers reporting sales and profit pointing to an American consumer that’s reigning in spending under the weight of ongoing inflation and anxiety about a possible recession.Futures for the Dow Jones Industrial Average rose 0.4% and the S&P 500 ticked up 0.3%. Target shares bounced around early after the Minneapolis retail giant reported another quarterly profit decline and issued a cautious sales and profit outlook. Target said it is dealing with higher costs, including rising theft, and consumers who have become more cautious about spending.Home Depot on Tuesday projected its first decline in annual revenue since 2009, dragging broader markets into negative territory for the day. The nation’s largest home improvement retailer cut its profit and sales expectations for the entire year.Walmart, another bellwether for the retail sector and indicator of broader consumer health, reports its results before...

Exceptional rains in drought-struck northern Italy kill 5, cancel Formula One Grand Prix

Published Tue, 25 Feb 2025 13:16:07 GMT

ROME (AP) — Exceptional rains Wednesday in a drought-struck region of northern Italy swelled rivers over their banks, killing at least five people, forcing the evacuation of about 5,000 and prompting officials to warn that Italy needs a national plan to combat climate change-induced flooding.The heavy rains and floods also forced Formula One to cancel this weekend’s Emilia-Romagna Grand Prix to not overtax emergency crews that were already stretched thin in responding to the emergency.Days of rainstorms stretched across a broad swath of northern Italy and the Balkans, where “apocalyptic” floods, landslides and evacuations were also reported in Croatia, Bosnia and Slovenia.Italian Civil Protection Minister Nello Musemeci said that five people were killed in flooding that struck Emilia-Romagna particularly hard, forcing the evacuation of thousands in two dozen flooded towns. At a briefing, Musemeci said that he hoped reports of people who were unaccounted for would turn out to be fals...

Air Canada signs codeshare and interline partnership deal with Flydubai

Published Tue, 25 Feb 2025 13:16:07 GMT

MONTREAL — Air Canada has announced a partnership with Flydubai that will offer more options for travellers headed to destinations in the Middle East, East Africa, Indian Subcontinent and Southern Asia.Mark Galardo, Air Canada’s executive vice-president for revenue and network planning, says the partnership complements the airline’s non-stop service to Dubai from Toronto and Vancouver.Under the deal, an Air Canada marketing code will be placed on nine Flydubai routes from Dubai that will give travellers the ability to travel to those markets with the issuance of a single ticket. The agreement also includes an interline arrangement that will see customers easily connect in Dubai to more than 60 destinations served by Flydubai.The airlines say more than 30 of those destinations are not flown to by Air Canada’s other partners.They also say they plan on improving the connection process in Dubai and are working toward introducing expanded features and benefits for loyal...

Ecuadorian president puts end to impeachment proceedings against him by dissolving National Assembly

Published Tue, 25 Feb 2025 13:16:07 GMT

QUITO, Ecuador (AP) — Ecuadorian President Guillermo Lasso on Wednesday put an end to impeachment proceedings against him by dissolving the opposition-led National Assembly, which had accused him of embezzlement.The right-wing president, who has denied any wrongdoing, can govern for up to six months by decree under the South American country’s constitution.The National Electoral Council now has seven days to call presidential and legislative elections, which must be held within 90 days. Those elected will finish the terms of Lasso and the lawmakers he ousted, which had been set to end in May 2025.In a televised message, Lasso accused the National Assembly of focusing “on destabilizing the government.” He called his move “democratic,” and as a way to give “people the power to decide their future in the next elections.”Lawmakers had accused Lasso of not having intervened to end a contract between the state-owned oil transport company Flota Petrolera Ecuatoriana and the private entity ...

Indonesian police suspect Chinese tourist tortured, killed girlfriend before taking own life

Published Tue, 25 Feb 2025 13:16:07 GMT

DENPASAR, Indonesia (AP) — Indonesian police investigating the deaths of a Chinese couple whose bodies were found bloodied and naked at a hotel in the resort island of Bali said Wednesday that the boyfriend killed the woman before killing himself.Police also said that the crime scene investigation and surveillance cameras from three hotels in Bali where the two stayed suggested that Cheng Jianan, 22, was tortured and drowned in a bathtub by her 25-year-old boyfriend, Lhi Chiming, following a series of arguments and fights.Their naked bodies were found at the InterContinental hotel on May 1, with Cheng badly beaten in the bathroom with a neck wound. “No traces of anyone else in the room apart from them, such as fingerprints, blood and DNA,” said Bambang Yugo Pamungkas, the police chief for Denpasar, Bali’s capital. He said the couple arrived in Bali on April 27 for the second visit after their first trip in March. They changed hotels a day after Cheng reported to police that Lhi had ...

Inside the wild, star-studded sale of the Ottawa Senators

Published Tue, 25 Feb 2025 13:16:07 GMT

In today’s Big Story podcast, nobody who covers the business of sports can remember a bidding process quite like the one currently taking place around the Ottawa Senators. Normally, negotiations take place behind-the-scenes, and the results only go public when a winner is chosen, or a final bid or two is being examined. However, this time, the whole saga has largely played out in public ever since Ryan Reynolds threw his hat into the ring, and he wasn’t the only big name to do so.Elliotte Friedman, Sportsnet Insider, Hockey Night in Canada panelist, and co-host of the 32 Thoughts podcast, says that the rising value of sports franchises in recent decades has led to a heightened interest in team ownership.“The teams are growing in value, but so is the real estate around them…It’s a good investment and that’s why people are interested,” says Friedman.So, who’s trying to buy the Sens? How does the bidding process work? And how will the winner be determined?You can subs...

Taiwan opposition party picks New Taipei mayor, a former police chief, as its presidential candidate

Published Tue, 25 Feb 2025 13:16:07 GMT

TAIPEI, Taiwan (AP) — Taiwan’s opposition Nationalist Party picked the popular mayor of New Taipei City, Hou Yu-ih, on Wednesday as its candidate in next year’s presidential election, seen as a referendum on the island’s future relations with China.Hou, the former head of the National Police Agency, will face current Vice President William Lai of the governing Democratic Progressive Party in the January polls. The Nationalists seek warmer ties with mainland China, while the governing party is seen as pro-independence. Current President Tsai Ing-wen has served two terms and is unable to run again.Hou was chosen by the Nationalists over Terry Gou, a billionaire Taiwanese businessman who founded Foxconn, the world’s largest contract electronics maker. One of his first tasks will be to try to unite the party behind his candidacy. Hou has said little publicly about his approach to China, focusing instead on local politics. Beijing claims Taiwan as its territory an...

Man shot on inbound Eisenhower

Published Tue, 25 Feb 2025 13:16:07 GMT

CHICAGO — A man shot on the inbound Eisenhower early Wednesday morning caused a large traffic build-up.Illinois State Police said the shooting was reported around 5:15 a.m. on the expressway near the Cicero Avenue ramp.A man was transported to an area hospital with non life-threatening injuries.EB I-290 is a mess. All lanes remain closed at Central for shooting investigation. Delays now go back to Mannheim. pic.twitter.com/KMR6t27lCg— Sarah Jindra (@SarahJindra) May 17, 2023All lanes were closed to traffic at Central Avenue at around 6:15 a.m. Just before 7 a.m., they reopened.

Man, woman in custody after 2 boys shot outside Chicago library

Published Tue, 25 Feb 2025 13:16:07 GMT

CHICAGO -- Two teens have been hospitalized after being shot outside of a Chicago Public Library branch in Garfield Park Tuesday evening.A man and woman were taken into custody on the 3900 block of West Madison. Police did recover a weapon from the suspects.According to the Chicago Police Department, officers responded to the Henry E. Legler Regional Branch of the Chicago Public Library on the 100 block of South Pulaski in Garfield Park just after 5:30 p.m. on Tuesday. Former Lake Zurich Lacrosse Club president accused of embezzling $160K Upon arrival, CPD discovered two individuals had been shot. A 16-year-old boy with two gunshot wounds to the legs was transported to a local hospital in good condition.A 12-year-old boy was also shot. A library security guard rushed to his aid, carrying him inside and calling for an ambulance. The 12-year-old boy was transported to a local hospital in fair condition. Former DuPage County corrections officer accused of having sex with inmate A ...

Wednesday Forecast: Temps in low 60s with mostly sunny conditions

Published Tue, 25 Feb 2025 13:16:07 GMT

CHICAGO — Cooler conditions Wednesday with temperatures in the low 60s. Mostly sunny with a wide temp range. Winds: ENE 10-15 G20. High: 63/57. Interactive Radar: Track showers and storm here Partly cloudy tonight. Winds: SE 5-10. Low: 45.Thursday Forecast: Mostly sunny, cooler lakeside. Winds: SSE 5-10. High: 78/70.Full forecast details and more at the WGN Weather Center blog