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Stock market today: Wall Street slumps with markets worldwide

Published Wed, 26 Feb 2025 08:31:52 GMT

NEW YORK (AP) — Wall Street is slumping with stock markets worldwide Wednesday as worries rise about the strength of the global economy and inflation.The S&P 500 was 0.8% lower in midday trading. The Dow Jones Industrial Average was down 261 points, or 0.8%, at 32,781, as of 11:20 a.m. Eastern time, while the Nasdaq composite was 0.8% lower.Stock markets in Asia fell even more following discouraging data on manufacturing from China. The world’s second-largest economy has not been rebounding as strongly as many investors had hoped. That raises worries when economies around the world are contending with still-high inflation and much higher interest rates than a year earlier.Wall Street has been able to weather such concerns pretty well recently, largely because of big gains for a handful of tech companies and others getting swept up in the buzz around AI. The S&P 500 is still on track to close out a roughly flat May and may squeeze out a third straight winning month.But some o...

Summer-like weather brings 30-degree temperatures this week

Published Wed, 26 Feb 2025 08:31:52 GMT

Toronto and surrounding areas have not seen 30-degree weather yet, but will finally hit that mark as temperatures remain above seasonal.CityNews 680 meteorologist Jill Taylor says the high for Wednesday reaches 30 degrees at around 3:00 p.m., the first time 30-degree weather in Toronto will happen this year.Seasonal temperatures for this time of year are usually around 22 degrees, but the weather at Toronto Pearson International Airport is currently 27 degrees.Similar highs of up to 30 degrees are expected Thursday and Friday, though the weekend will see sunny but more seasonal temperatures ranging from 24-26.There is no rain in the forecast for the weekend, though temperatures are expected to drop to the low 20’s and rain will return early next week.Summer officially arrives on Wednesday, June 21, at 10:58 a.m. ET.

Italy displays returned antiquities looted from London dealer Symes

Published Wed, 26 Feb 2025 08:31:52 GMT

ROME (AP) — Italy on Wednesday displayed hundreds of antiquities that had been looted from Italian territory and were recovered from a London antiquities dealer.The 750 objects, which date from the 8th century BC and the medieval period, include an Etruscan three-legged bronze table, marble busts of men from the imperial age, and wall paintings that are believed to be from the area of Mt. Vesuvius.The Culture Ministry valued the items at 12 million euro ($12.79 million), according to a statement.They were in the possession of a London company in liquidation, Symes Ltd, owned by dealer Robin Symes.“The most complex moment was when the liquidators showed their availability (to return the objects), which was a willingness that implied a demonstration of illegality,” said Carabinieri Cmdr. Vincenzo Molinese, who is in charge of the carabinieri unit protecting cultural heritage. He said Symes didn’t provide documentation for the artifacts, but research showed the items had been illegally...

S&P/TSX composite down more than 200 points in broad-based decline

Published Wed, 26 Feb 2025 08:31:52 GMT

TORONTO — Canada’s main stock index was down more than 200 points in late-morning trading in a broad-based decline led by losses in the base metal, energy and industrial sectors.The S&P/TSX composite index was down 207.60 points at 19,532.10.In New York, the Dow Jones industrial average was down 268.91 points at 32,773.87. The S&P 500 index was down 37.04 points at 4,168.48, while the Nasdaq composite was down 111.98 points at 12,905.45.The Canadian dollar traded for 73.59 cents US compared with 73.54 cents US on Tuesday.The July crude oil contract was down 83 cents at US$68.63 per barrel and the July natural gas contract was down a penny at US$2.32 per mmBTU.The August gold contract was up US$11.90 at US$1,989.00 an ounce and the July copper contract was down two cents at US$3.64 a pound.This report by The Canadian Press was first published May 31, 2023.Companies in this story: (TSX:GSPTSE, TSX:CADUSD=X)The Canadian Press

Trudeau dismisses criticism of David Johnston as political

Published Wed, 26 Feb 2025 08:31:52 GMT

OTTAWA — Prime Minister Justin Trudeau says he has confidence in David Johnston, even as the House of Commons is about to vote in favour of an NDP motion to have Johnston removed from his post.Trudeau named the former governor general a special rapporteur for foreign interference in March to look into allegations the Chinese government tried to meddle in the last two federal elections.Opposition parties decried the appointment because of Johnston’s family connections to the prime minister’s family and the Trudeau Foundation. The Conservatives and Bloc Québécois are expected this afternoon to vote in favour of an NDP motion calling on the government to oust Johnston and call a public inquiry into foreign interference.NDP Leader Jagmeet Singh says he has no criticism of Johnston himself but believes there is an appearance of bias that means the rapporteur’s work is tainted.Trudeau says all those allegations are politically motivated attacks without any basis in fact....

Finnish company Admares plans $750 million modular housing factory in US, hiring 1,400

Published Wed, 26 Feb 2025 08:31:52 GMT

WAYCROSS, Ga. (AP) — Finnish company Admares plans to invest $750 million to build a modular housing factory in the U.S. state of Georgia, hiring 1,400 people, officials announced Wednesday.The company plans to mass produce housing using heavily automated factories. Admares, which was founded in Turku, Finland, said it’s in the process of relocating its headquarters to the United States.The company said its factory in Waycross will be 2.5 million square feet (232,000 square meters), with production starting in late 2025. The company says it plans to build six such factories worldwide, each of which would produce 5,000 to 6,000 homes per year.Such homes would only need a foundation and utility connections on the site where they are installed, Admares said, and could be built with 80% less material waste and 75% less carbon dioxide emissions than homes built in a traditional way.“With our advanced technology, we are adopting successful practices that are common in other ad...

NASA talks UFOs with public ahead of final report on unidentified flying objects

Published Wed, 26 Feb 2025 08:31:52 GMT

CAPE CANAVERAL, Fla. (AP) — NASA held its first public meeting on UFOs Wednesday a year after launching a study into unexplained sightings. The space agency televised the hourslong hearing featuring an independent panel of experts. The team includes 16 scientists and other experts selected by NASA including retired astronaut Scott Kelly, the first American to spend nearly a year in space. Several committee members have been subjected to “online abuse” for serving on the team, which detracts from the scientific process, said NASA’s Dan Evans, adding that NASA security is dealing with it. “It’s precisely this rigorous, evidence-based approach that allows one to separate the fact from fiction,” Evans said.The study is a first step in trying to explain mysterious sightings in the sky that NASA calls UAPs, or unidentified aerial phenomena.The group is looking at what unclassified information is available on the subject and how much more is needed to understand what’s go...

CP NewsAlert: Equinor postponing Bay du Nord offshore oil project in N.L.

Published Wed, 26 Feb 2025 08:31:52 GMT

ST. JOHN’S, N.L. — Equinor is pausing its plan to develop the Bay du Nord oil project, which would open a fifth oilfield off the coast of Newfoundland.The Norwegian energy giant says in a news release that it is postponing the project for up to three years.The company says the project has seen significant cost increases in recent months, mostly due to volatile market conditions.The federal government gave the project environmental approval last April, but the company and its partners had not confirmed the full investment necessary for the development.The company’s website says that before the delay, the Bay du Nord project was forecast to produce first oil later this decade.More coming.The Canadian Press

Toyota to invest $2.1 billion more in N.C. battery plant, will build big SUV at factory in Kentucky

Published Wed, 26 Feb 2025 08:31:52 GMT

Toyota will invest another $2.1 billion in an electric and hybrid vehicle battery factory that’s under construction near Greensboro, North Carolina. The plant will supply batteries to Toyota’s huge complex in Georgetown, Kentucky, which will build Toyota’s first U.S.-made electric vehicle, a new SUV with three rows of seats.The plans, announced Wednesday, won’t immediately create any more jobs at either the Kentucky or North Carolina factories.Toyota plans to employ 2,100 workers at the battery factory, which will start production in 2025. The investment will prepare infrastructure for expansion. It brings the total investment in the Randolph County plant to $5.9 billion to meet the company’s goal of selling 1.8 million electric or hybrid vehicles in the U.S by 2030. Toyota broke ground to begin building the plant in 2021. The 9 million-square-foot Kentucky complex now employs 9,500 people who make the Camry sedan, RAV4 Hybrid SUV, several engines and o...

What to know about Taylor Swift's Soldier Field concerts

Published Wed, 26 Feb 2025 08:31:52 GMT

CHICAGO — It's a huge weekend for fans of Taylor Swift in Chicago, who will descend on the city for a trio of shows this weekend. "The Eras Tour" includes performances on Friday, June 2, Saturday, June 3, and Sunday, June 4 as the popular artist will entertain a sellout crowd every single night.With so many people making their way to the lakefront to see the shows, WGN News Now has a list of things to know ahead of Swift's Chicago shows in 2023.(Photo by SUZANNE CORDEIRO / AFP) (Photo by SUZANNE CORDEIRO/AFP via Getty Images)What is the schedule for the performances?For all three of the performances, merchandise sales will open outside the stadium at four locations at Noon. Parking lots around Soldier Field are available starting at 2 p.m. and the gates to the stadium will open at 4:30 p.m.Two hours later, at 6:30 p.m., the opening acts will begin, with OWENN & Girl in Red opening on Friday and Saturday evenings. Gracie Adams and Muna Sun will be the opening acts for the Sunday ...