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Big bank CEOs warn that new regulations may severely impact economy

Published Fri, 07 Feb 2025 04:18:09 GMT

NEW YORK (AP) — The heads of the nation’s biggest banks say there are reasons to be concerned about the health of U.S. consumers — particularly poor and low-income borrowers — in their annual appearance in front of Congress on Wednesday.The CEOs of JPMorgan Chase, Bank of America, Wells Fargo and five other large firms also took the opportunity to impress upon senators that the Biden Administration’s new proposed regulations for the industry may hurt the U.S. economy going into an election year and at a time when a recession is possible. Wall Street’s most powerful bankers have regularly appeared in front of Congress going back to the 2008 financial crisis. Among those testifying before the Senate Banking Committee include JPMorgan’s Jamie Dimon, Bank of America’s Brian Moynihan, Jane Fraser of Citigroup and Goldman Sach’s David Solomon. When both houses of Congress were controlled by Democrats, the CEOs would appear in front of both the House Fin...

As COP28 talks try to curb warming, study says Earth at risk of hitting irreversible tipping points

Published Fri, 07 Feb 2025 04:18:09 GMT

DUBAI, United Arab Emirates (AP) — The world is in danger of hitting the point of no return for five of Earth’s natural systems because of human-caused climate change, a team of 200 scientists said on Wednesday on the sidelines of the United Nations’ climate summit. The report on so-called “tipping points” — moments when the Earth has warmed so much that certain side effects become irreversible — looks at 26 different systems and points to five of them — the melting of the Greenland and West Antarctic ice sheets, the dying off of warm-water coral reefs, the thawing of permafrost and impacts to a North Atlantic ocean current — as close to triggering.“These tipping points pose threats of a magnitude that has never been faced before by humanity,” said Tim Lenton, the report’s lead author and Earth systems scientist and the University of Exeter in the U.K.The warnings come as negotiators discuss how best to slash emissions from the burning of coal, oil and gas at the U...

DeSantis appointees accuse Disney district predecessors of cronyism; Disney calls them revisionist

Published Fri, 07 Feb 2025 04:18:09 GMT

ORLANDO, Fla. (AP) — Gov. Ron DeSantis’ appointees to Walt Disney World’s governing district on Wednesday released a series of reports justifying their takeover and accusing their Disney-controlled predecessors of being a part of “the most egregious exhibition of corporate cronyism in modern American history.”The reports commissioned by the Florida governor’s appointees to the Central Florida Tourism Oversight District, or CFTOD, were the latest salvos in the ongoing court and public opinion battles between Disney and DeSantis over who controls the district. The governing body provides municipal services such as planning, mosquito control and firefighting in the roughly 40 square miles (100 square kilometers) in central Florida that make up Disney World.The reports were being presented Wednesday during a meeting of the district’s board.The feud started last year after Disney publicly opposed the state’s so-called don’t say gay law, which bans classroom lessons on s...

France will carry out 10,000 checks at restaurants, hotels before Paris Games to avoid price hikes

Published Fri, 07 Feb 2025 04:18:09 GMT

PARIS (AP) — French authorities will carry out checks at 10,000 hotels and restaurants across France ahead of the Paris Olympics next year in order to limit expected massive price hikes during the Games.Tourism minister Olivia Gregoire said Wednesday that all 1,600 hotels located in the French capital city will be inspected by the French fraud control agency by the summer.The 2024 Paris Games will run from July 26-Aug. 11. The Paralympics will then take place from Aug. 28-Sept. 8.French media reported last month that the Paris tourism office had seen a sharp increase of 314% in hotel rates during the dates of the Olympics and Paralympics, with the average price of a one-night stay in the Paris region rising from 169 euros ($182) in July 2023 to 699 euros ($755) a year later.In France, hotel rates are set freely and won’t be capped during the Games but French authorities hope inspections will keep prices in check.Speaking to Sud Radio, Gregoire said that business owners could b...

‘Know My Name’ author Chanel Miller has written a children’s book, ‘Magnolia Wu Unfolds It’

Published Fri, 07 Feb 2025 04:18:09 GMT

NEW YORK (AP) — Chanel Miller’s next book after her prize-winning memoir “Know My Name” will help fulfill a longtime dream — to write and illustrate children’s stories. Philomel Books, an imprint of Penguin Young Readers, announced Wednesday that Miller’s “Magnolia Wu Unfolds It” will be released April 23. The publisher is calling the book a “funny and poignant story of friendship and community” centered on a New York City laundromat, a 10-year-old detective and the timeless mystery of missing socks.“I crafted these characters because I was longing to move freely through the world with fearless curiosity, to refocus on life’s funny little miraculous moments,” Miller said in a statement. “I was craving joy and they helped me find it.“The book will feature Miller’s black and white drawings.Miller was first known to the public as “Emily Doe,” the anonymous victim of sexual assault whose widely read impact statement came out on the day in 2016 that he...

FAA is investigating after 2 regional aircraft clip wings at Chicago’s O’Hare International Airport

Published Fri, 07 Feb 2025 04:18:09 GMT

CHICAGO (AP) — Two regional aircraft clipped wings Tuesday at Chicago’s O’Hare International Airport and the Federal Aviation Administration is investigating, officials said.The FAA said the wingtips of GoJet Flight 4423 and SkyWest Flight 5433 made contact about 7 p.m. as both jets were waiting for gate space at O’Hare.The two aircraft then “taxied safely to the terminals, where passengers exited normally,” the FAA said in a statement based on preliminary information.No injuries were reported, said FAA spokesperson Rick Breitenfeldt.SkyWest said its flight was operating as United Express and maintenance crews were inspecting the aircraft late Tuesday, WBBM-TV reported. The station reported that the SkyWest flight had arrived from Wilkes-Barre, Pennsylvania, while the GoJet flight had arrived from Richmond, Virginia.The Associated Press left messages Wednesday morning for both airlines seeking comment on the incident and asking whether the jets suffered damage.The Associ...

Statistics Canada reports $3B merchandise trade surplus for October

Published Fri, 07 Feb 2025 04:18:09 GMT

OTTAWA — Statistics Canada says the country’s merchandise trade surplus grew to $3.0 billion in October as imports fell and exports edged higher.The agency says the result compared with a revised surplus of $1.1 billion in September. The October figures showed imports fell 2.8 per cent for the month to $63.0 billion for the month as imports of metal and non-metallic mineral products dropped 14.7 per cent and motor vehicles and parts moved down 5.8 per cent.On the flip side, exports of goods rose 0.1 per cent in October to $66.0 billion.The move came as exports of aircraft and other transportation equipment and parts gained 15.0 per cent, offset by a 1.2 per cent drop in exports of energy produces and a 3.5 per cent decline in basic and industrial chemical, plastic and rubber products.In volume terms, imports in October fell 3.2 per cent, while export volumes edged down 0.1 per cent.This report by The Canadian Press was first published Dec. 6, 2023.The Canadian Press

Golf officials to roll back ball for pros and weekend hackers alike. Not everyone is happy

Published Fri, 07 Feb 2025 04:18:09 GMT

Golf’s ruling bodies are changing the equipment testing to make sure the golf ball goes shorter for everyone from Tiger Woods to the amateur who plays public courses on the weekend.The USGA and R&A announced its decision Wednesday, capping more than five years of intensive study on distance that led them to believe consistent gains off the tee — some 30 yards by PGA Tour players over the last 25 years — was detrimental to the game.“There’s virtually no denying that the game at the highest end is longer by a long shot today than it was 20 years ago,” said Mike Whan, the CEO of the USGA.The change is not effective until 2028 for tour and elite golf, 2030 for recreational golfers.The original proposal in March was a “Model Local Rule” that would lead to a shorter golf ball only at the elite level, which would create two sets of rules for the first time. The PGA Tour and PGA of America strongly opposed it.Instead, the USGA and R&A are changing the test that measures ...

When there’s lots of holiday spirit but not much space, how to deck the (small) halls

Published Fri, 07 Feb 2025 04:18:09 GMT

It seems like the frost hasn’t even hit the pumpkin before “holiday cheer” starts showing up everywhere, from social media feeds to the aisles of CVS. Tis the season to decorate.But if you’re in a small apartment, there are limits to what you can do. A full-size artificial tree might take up half a room. You might have limited shelving for trinkets. How can you let your holiday flag fly when you don’t have much space to do it?Here are some seasonal style ideas that max the merry but won’t eat the room. And that store easily.SET THE STAGEA monochromatic palette is a good place to start, says Todd Carr, who runs the botanicals and homewares shop Hort & Pott in Freehold, New York, with partner Taylor Harrington.“It helps keep the holiday décor cohesive and ties together pretty much whatever you do. I love green on green, for example – but take inspiration from your space,” Carr says. Think stacks of books, a scarf, and ornamental design elements like candlesticks and natural or fau...

Taco Bell has brought back one of its most beloved items

Published Fri, 07 Feb 2025 04:18:09 GMT

(WJW) — Taco Bell is bringing back its double decker taco, news that is sure to please fans who struggle to choose between a crunchy and a soft taco. The fast-food chain announced Tuesday that the former menu staple is returning for a limited time in a "nationwide comeback." "The double decker taco holds a deep space in the hearts of our Taco Bell Fans," Taylor Montgomery, Chief Marketing Officer, admitted in a statement. "The insane amount of love for this product from fans across our social platforms was impossible to ignore." Westlake man’s potato peeling method goes viral Last year, the double decker squared off against another nearly forgotten menu item, the Enchirito, and lost. At the time, Taco Bell asked fans to vote to bring back one of the “retired” food items. Taco Bell said the company is embracing its past dishes after seeing the "love and passion" fans expressed upon the return of the Mexican Pizza. (Credit: Taco Bell)Montgomery said the company listened to its custo...