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Stock market today: Wall Street rises with hopes US may avoid default

Published Sat, 22 Feb 2025 04:14:19 GMT

NEW YORK (AP) — Wall Street rallied Wednesday on hopes the U.S. government can avoid a potentially disastrous default on its debt.The S&P 500 climbed 1.2%, with much of the gain coming after President Joe Biden said he’s confident “America will not default.” The Dow Jones Industrial Average rose 408 points, or 1.2%, while the Nasdaq composite gained 1.3%. Biden’s comments came after House Speaker Kevin McCarthy said late Tuesday that Democrats and Republicans could reach a deal by the end of the week, though the two sides remain far apart. They’re staring down a June 1 deadline, which is when the U.S. government could run out of cash unless Congress allows it to borrow more.A default could rock the financial system because Treasurys are assumed to be the safest possible investment on Earth, and economists say it would likely cause widespread damage across the economy.Wednesday’s spurt came after a long, listless stretch where the S&P 500 did not move by 1% over a week, up or...

S&P/TSX composite gains more than 50 points Wednesday, U.S. markets rise

Published Sat, 22 Feb 2025 04:14:19 GMT

TORONTO — Canada’s main stock index posted a small gain Wednesday as strength in energy stocks helped offset weakness in other areas, while U.S. markets rose more than one per cent. The S&P/TSX composite index was up 54.36 points at 20,296.43.In New York, the Dow Jones industrial average was up 408.63 points at 33,420.77.The S&P 500 index was up 48.87 points at 4,158.77, while the Nasdaq composite was up 157.51 points at 12,500.57.The Canadian dollar traded for 74.35 cents US, according to XE.com, compared with 74.32 cents US on Tuesday.The June crude contract was up US$1.97 at US$72.83 per barrel and the June natural gas contract was down a penny at US$2.37 per mmBTU.The June gold contract was down US$8.10 at US$1,984.90 an ounce and the July copper contract was up nine cents at US$3.75 a pound.This report by The Canadian Press was first published May 17, 2023.Companies in this story: (TSX:GSPTSE, TSX:CADUSD=X)The Canadian Press

EPA rule would force clean-up of toxic waste dumped near coal-fired power plants

Published Sat, 22 Feb 2025 04:14:19 GMT

WASHINGTON (AP) — The Environmental Protection Agency is strengthening a rule aimed at controlling and cleaning up toxic waste from coal-fired power plants. A proposal announced Wednesday would for the first time require safe management of so-called coal ash dumped in hundreds of older landfills, “legacy” ponds and other inactive sites that currently are unregulated at the federal level. EPA Administrator Michael Regan said the plan would hold polluters accountable for controlling and cleaning up coal ash, a byproduct of burning coal in that can pollute waterways, groundwater, drinking water and the air. Coal ash contains contaminants such as mercury, chromium and arsenic associated with cancer and other health problems.“Ensuring the health and safety of all people is EPA’s top priority, and this proposed rule represents a crucial step toward safeguarding the air, groundwater, streams and drinking water that communities depend on,” Regan said in a statement.If finalized, the r...

Brazen daylight murder of Montreal salon owner shows ‘arrogance’ of Mafia: expert

Published Sat, 22 Feb 2025 04:14:19 GMT

MONTREAL — A brazen daylight shooting of a Montreal salon owner has Mafia experts calling out the ruthlessness and arrogance of organized crime in the city.Montreal police on Tuesday found a woman shot dead in a car that was still running and had collided with a building. Multiple reports identified the victim as Claudia Iacono, 39, the daughter-in-law of the late Moreno Gallo, a reputed mob boss. The car was found in the parking lot outside a popular salon that Iacono owned in Montreal’s Côte-des-Neiges district.Gallo was killed in 2013 in Acapulco, Mexico, a few years after he was deported from Canada. Iacono was married to one of Gallo’s sons, Anthony.Retired Montreal police officer André Gélinas said it’s unusual that an extended family member of a Mafia boss would be targeted, particularly a woman. But he said he doesn’t ascribe any code of honour to criminals.“Organized crime and code of honour don’t conjugate in the same sentence,” sa...

Doug Ford ‘disappointed’ in Ottawa’s handling of rocky Stellantis deal

Published Sat, 22 Feb 2025 04:14:19 GMT

Ontario Premier Doug Ford is responding to federal calls for the province to help fund commitments Canada made to automaker Stellantis by saying he is “disappointed” with how Ottawa has handled the issue.Both levels of government are working hard to ensure Stellantis doesn’t pull out of its promise to jointly build a $5-billion electric vehicle battery plant with LG Energy Solution in Windsor, Ont., but it’s up to Ottawa to follow through on its promises, Ford said Wednesday.“Hopefully, the federal government will step up and I’m always willing to work collaboratively with them, just like we have with all the other auto deals,” Ford said in the halls of the legislature.“They have been a really good partner, actually. I don’t know what happened this time.”Stellantis wrote last month to the federal government, saying Ottawa had confirmed in writing five times that it would match production incentives under the United States&#...

Exceptional rains in drought-struck northern Italy kill 8, cancels Formula One Grand Prix

Published Sat, 22 Feb 2025 04:14:19 GMT

Exceptional rains Wednesday in a drought-struck region of northern Italy swelled rivers over their banks, killing at least eight people, forcing the evacuation of thousands and prompting officials to warn that Italy needs a national plan to combat climate change-induced flooding.The heavy rains 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 rivers of mud that have torn through the region, wreaking havoc on infrastructure and homes.The decision has been taken not to proceed with the Grand Prix weekend in Imola#EmiliaRomagnaGP #F1 pic.twitter.com/4taauGnFEA— Formula 1 (@F1) May 17, 2023Days 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.The deputy governor of Emilia-Romagna, Irene Priolo, said eight people were killed and others un...

An early Bears' Arlington Park stadium bill on hold

Published Sat, 22 Feb 2025 04:14:19 GMT

SPRINGFIELD, Ill. — As slow steps toward a Bears stadium in Arlington Heights continue, the team expressed their hopes for a "consensus" in getting a recently proposed bill passed. But as far as that actually happening, it will have to wait till the next legislative session.A subject matter discussion was held in front of the Illinois House Executive Committee on House Bill 610 on Wednesday in Springfield. While sponsor Rep. Martin Moylan (D-Des Plaines did present it, it won't be brought in front of the legislature during this session, which ischeduled to end on May 19."I want to stress that this hearing and this proposal are just another step along the way to help move this debate forward," said Rep. Moylan. "It would allow us time over the summer to create consensus with our members, the Chicago Bears, local officials, and business and labor leaders."We owe it to ourselves, our constituents, to get this right."House Bill 610 involves a few initiatives for the project, including t...

Highest-rated Cajun restaurants in Chicago, according to Yelp

Published Sat, 22 Feb 2025 04:14:19 GMT

(STACKER) -- From backyard boils with tables full of crawfish to the larger-than-life pots of spicy Jambalaya simmering over an open flame, Cajun food is definitely one that leaves your mouth happy and your system full of flavor. It's also the kind of food built around community. Dishes that are predicated on the concept of the more the merrier and cooked with the intention of bringing people together. It's the kind of food where you taste the love from every spoonful of spice stirred in.Cajun food has a rich history that was born of a somewhat violent time in Canada's history known as the Acadian Expulsion. Over the course of a decade, more than six thousand Acadians were expelled from their villages onto ships or nearby territories. Half of them would perish. Some would make a new home in New Orleans—primarily Louisiana. With little resources and no means, the Acadians began incorporating ingredients from their new home into their traditional recipes. As they acclimated and began ...

The 9th game is the charm for a Matt Mervis first

Published Sat, 22 Feb 2025 04:14:19 GMT

HOUSTON — There was a reason he was called "Mash" when he was in Triple-A Iowa, but he was still waiting to use that nickname in the majors for his first two weeks with the Cubs.But during his ninth game, the moment finally arrived for Matt Mervis, and it was the best part of an otherwise tough night for his team against the Astros in Houston.In the top of the second inning, the first baseman hit his first major league homer, taking a Christian Javier pitch down the line in right and off the foul pole for the solo shot. Mervis pointed to the sky as he reached home plate at Minute Maid Park after the milestone moment, which came after a little bit of a wait. Making his debut on May 5, Mervis had seven hits coming into Tuesday and only one of those had gone for extra bases. But he didn't wait long to hit his first major league homer in the first at-bat of his ninth contest and 33rd at-bat with the Cubs. Power was a big part of Mervis' success in the minors the last two seasons as he h...

WATCH: Here's everything we found investigating your TxTag Troubles

Published Sat, 22 Feb 2025 04:14:19 GMT

AUSTIN (KXAN) — A steady stream of ReportIt tips about TxTag troubles over the past few years inspired KXAN investigators — who had previously investigated the tollway in 2018 — to see what's been done to fix issues and which problems persist.More than two dozen journalists investigated some of the most common driver dilemmas, efforts to hold vendors accountable as well as solutions being explored at the Texas Capitol and in other states. Not only did these stories air throughout the week of May 7 on KXAN, but we compiled them into an extended special report, which you can watch above. Josh Hinkle and Erica Brennes filming for her story about the future of toll roads in the Austin area (KXAN Photo)KXAN photojournalists Chris Nelson and Richie Bowes film Josh Hinkle and Kelly Wiley for her stories speaking to TxDOT's director and about a common driver dilemma (KXAN Photo)The KXAN team films for the TxTag Troubles investigation (KXAN Photo)KXAN photojournalist Richie Bowes films Josh ...