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The world economy will slow next year because of inflation, high rates and war, OECD says

Published Wed, 26 Feb 2025 04:47:10 GMT

WASHINGTON (AP) — The global economy, which has proved surprisingly resilient this year, is expected to falter next year under the strain of wars, still-elevated inflation and continued high interest rates.The Paris-based Organization for Economic Cooperation and Development estimated Wednesday that international growth would slow to 2.7% in 2024 from an expected 2.9% pace this year. That would amount to the slowest calendar-year growth since the pandemic year of 2020.A key factor is that the OECD expects the world’s two biggest economies, the United States and China, to decelerate next year. The U.S. economy is forecast to expand just 1.5% in 2024, from 2.4% in 2023, as the Federal Reserve’s interest rate increases — 11 of them since March 2022 — continue to restrain growth.The Fed’s higher rates have made borrowing far more expensive for consumers and businesses and, in the process, have helped slow inflation from its four-decade peak in 2022. The OECD foresees U.S. in...

An ailing Pope Francis tells the public he’s better than a day earlier but has aides read speeches

Published Wed, 26 Feb 2025 04:47:10 GMT

VATICAN CITY (AP) — Pope Francis presided at his weekly audience with the public at the Vatican, but he said that he’s still unwell and asked an aide to read his remarks for him on Wednesday, a day after canceling an overseas trip.Francis, who will turn 87 on Dec. 17 and had part of one lung removed as a young man, coughed near the end of the hourlong audience in a Vatican auditorium as he made some final comments, then stood up from his chair on the stage to give his blessing. With a soft voice, barely above a whisper, Francis told the public that “since I am not well,” his reading of his speech wouldn’t sound “pretty.” He then handed the printed speech to the aide.But Francis did speak at the end of the audience, voicing his contentment over the truce in fighting between Israel and Hamas, and saying he hopes it continues “so that all the hostages are released and access necessary to permit humanitarian aid” to reach Gaza is provided.“They lack bread, water, the p...

Stock market today: Global shares trade mixed and oil prices advance ahead of OPEC meeting

Published Wed, 26 Feb 2025 04:47:10 GMT

TOKYO (AP) — European shares were mostly higher on Wednesday after a mixed session in Asia, where selling of property and technology shares pulled Chinese benchmarks lower. France’s CAC 40 edged up 0.4% in early trading to 7,281.99, while Germany’s DAX added 1% to 16,151.57. Britain’s FTSE 100 lost 0.2% to 7,438.87. The future for the Dow Jones Industrial Average gained 0.3% and that for the S&P 500 also gained 0.3%.In Asian trading, Japan’s benchmark Nikkei 225 declined 0.3% to finish at 33,321.22. Australia’s S&P/ASX 200 gained 0.3% to 7,035.30. South Korea’s Kospi shed nearly 0.1% to 2,519.81. Hong Kong’s Hang Seng dropped 2.1% to 16,993.44, while the Shanghai Composite fell 0.6% to 3,021.69. Food delivery company Meituan’s Hong Kong-traded shares dropped 12.2% after it forecast its revenue will fall in the current quarter. Troubled property developer China Evergrande sank 10.4% following reports that its property services g...

US military Osprey aircraft with 6 aboard crashes off southern Japan, at least 1 dead

Published Wed, 26 Feb 2025 04:47:10 GMT

TOKYO (AP) — A crew member who was recovered from the ocean after a U.S. military Osprey aircraft carrying six people crashed Wednesday off southern Japan has been pronounced dead, coast guard officials said. The cause of the crash and the status of the five others on the aircraft were not immediately known, coast guard spokesperson Kazuo Ogawa said. Initial reports said the aircraft was carrying eight people, but the U.S. military later revised the number to six, he said. The coast guard received an emergency call from a fishing boat near the crash site off Yakushima, an island south of Kagoshima on the southern main island of Kyushu, he said.Coast guard aircraft and patrol boats found one person, who was later pronounced dead at a nearby hospital, and gray-colored debris believed to be from the aircraft, Ogawa said. They were found about 1 kilometer (0.6 mile) off the eastern coast of Yakushima. An empty inflatable life raft was also found in the area. “The government will confirm...

A $16 McDonald’s meal is going viral again. Here’s why

Published Wed, 26 Feb 2025 04:47:10 GMT

(NEXSTAR) – A $16 McDonald’s order that drew mixed reactions from people on TikTok last year is going viral again, this time reportedly reaching White House officials.  The resurfaced video, originally posted in December 2022, shows a man named Topher Olive venting about the cost of his meal.“So, I get there’s a labor shortage. I get there’s wage increases and a number of other things,” he said in the clip. “But $16? $16 for a burger, a large fry and a drink? It’s just crazy!”An itemized receipt from the McDonald’s in Post Falls, Idaho, shows Olive purchased a Smoky Double Quarter Pounder BLT, a large fry and a large Sprite. The order totaled $16.10 with tax. McDonald’s and Crocs releasing shoes inspired by Grimace, Hamburglar “Bro ordered the most expensive meal they have and acted surprised,” one user quipped.The video, now at more than 670,000 views, began recirculating online shortly after McDonald’s released its quarterly revenue report earlier this month.Several outlets...

US Osprey aircraft with 6 aboard crashes off coast of Japan, at least 1 dead

Published Wed, 26 Feb 2025 04:47:10 GMT

TOKYO (AP) — A crew member who was recovered from the ocean after a U.S. military Osprey aircraft carrying six people crashed Wednesday off southern Japan has been pronounced dead, coast guard officials said.The cause of the crash and the status of the five others on the aircraft were not immediately known, coast guard spokesperson Kazuo Ogawa said. Initial reports said the aircraft was carrying eight people, but the U.S. military later revised the number to six, he said.The coast guard received an emergency call from a fishing boat near the crash site off Yakushima, an island south of Kagoshima on the southern main island of Kyushu, he said.A Japan's coast guard vessel and a helicopter conduct search and rescue operation around the site where a U.S. military Osprey aircraft was believed to crash in the sea off Yakushima Island, Kagoshima prefecture, southern Japan Wednesday, Nov. 29, 2023. Japan's coast guard has found a person and debris in the ocean where a U.S. military Osprey a...

"Enhanced" severe risk east of I-35 on Thursday

Published Wed, 26 Feb 2025 04:47:10 GMT

AUSTIN (KXAN) -- Clouds increase today ahead of a western storm that will bring rain, isolated thunderstorms, and a low-end tornado risk to parts of Central Texas on Thursday.Today, gray skies will keep temperatures down. We'll be lucky if we clip 60º this afternoon. As clouds lower and thicken late in the day and the atmosphere moistens, drizzle, mist and light fog develop this evening, but generally we should stay dry during the daylight hours today.On Thursday, we are expecting a low risk of severe thunderstorms in our eastern communities, including the possibility of a brief, weak tornado.Scattered showers and thunderstorms Thursday morning through early afternoon may begin to rotate, mainly east of I-35, potentially leading to an isolated, weak tornado similar to what Caldwell County saw in late October. NEW this morning, the severe weather risk has increased to a 2 out of 5 for areas just east of Austin and now an "Enhanced" risk (3 out of 5) for some of our eastern counties w...

Merrimack prevails over Siena in overtime affair

Published Wed, 26 Feb 2025 04:47:10 GMT

LOUDONVILLE, NY (NEWS10) – Siena Women’s Basketball returned to action Tuesday evening following a nine-day gap in non-league action, playing inside the UHY Center for the second straight game. The Saints (2-2) were unable to find their offensive stride, resulting in a 67-64 overtime loss to first-time foe Merrimack (2-5). Get the latest news, weather, sports and entertainment delivered right to your inbox! Facing off with a first-time opponent for one of two scheduled matchups this season, the Green and Gold led by four at the end of the first quarter, but ended up shooting just 7-22 in the first half to trail by five at the half. After outscoring the home team, 21-11 in the second period, Merrimack used a breakout 24-point bench performance from freshman Thalia Shepard to lead by as many as nine points multiple times in the second half.Using a career performance of its own with a team-high 16 points from sophomore London Gamble, Siena remained around 30 percent from th...

Home sweet home: Danes set to open Broadview Center

Published Wed, 26 Feb 2025 04:47:10 GMT

ALBANY, NY (NEWS10) -- The UAlbany men's basketball team spent all of last year as nomads, playing their home games off campus as they waited on the renovations to be complete on their new home. Wednesday night, their patience will be rewarded when they open up the new Broadview Center against Boston University. Get the latest news, weather, sports and entertainment delivered right to your inbox! The arena has undergone $12 million in upgrades. Not only is there buzz about opening up the new building, there's buzz around this team. The Great Danes are coming off back-to-back wins over Army and Siena, routing the Saints 86-51 in the Albany Cup game on Sunday. The Danes believe this is an exciting time to buy into the program. "The game against Siena was a huge thing for us and the community, it kind of told people what type of team we are," said Killings. "Now that we have the arena, I think there's some interest about the arena and our team so now we have to take another step. You...

Five student-athletes recognized at fall signing event for Albany Academies

Published Wed, 26 Feb 2025 04:47:10 GMT

ALBANY, N.Y. (NEWS10) -- The Albany Academies held a fall signing event Tuesday, recognizing five student-athletes who inked their letters of intent to play at the collegiate level. Get the latest news, weather, sports and entertainment delivered right to your inbox! Four of those student-athletes are headed to Division I institutions, including girls golf phenom Kennedy Swedick, who will attend the University of Virginia - one of the top collegiate girls golf programs in the country. A pair of boys lacrosse standouts, Nicholas Bang and Shea Hogan, will continue on to the D-I level at the College of Holy Cross and Stony Brook University, respectively. Emmanuel "Manny" Santos will attend Rhode Island University next year to play baseball, and Gabriella "Gigi" Sitzer is off to D-III Roger Williams University for cross-country and track & field.For Swedick, who committed to the Cavaliers back in January, this day was a long time coming."I've been dreaming about...golfing in colle...