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Stock market today: Asian shares mostly rise after Fed chief’s speech

Published Wed, 26 Feb 2025 08:49:57 GMT

TOKYO (AP) — Asian shares were mostly higher Monday, as investors were relieved by the head of the Federal Reserve indicating it will “proceed carefully” on interest rates. Japan’s benchmark Nikkei 225 added 1.8% in afternoon trading to 32,195.91. Australia’s S&P/ASX 200 gained 0.6% to 7,159.80, after data on Australian retail sales showed they rose a higher than expected 0.5%.South Korea’s Kospi rose 0.8% to 2,538.67. Hong Kong’s Hang Seng jumped 1.3% to 18,182.87, while the Shanghai Composite surged 1.3% to 3,104.27. “The muted reaction of treasury yields to the rhetoric from Jackson Hole shows that US Federal Reserve chairman Jerome Powell probably hit the right tone when it comes to keeping further policy tightening on the table but at the same time not rattling market confidence,” said Tim Waterer, chief market analyst at KCM Trade. Wall Street recorded its first winning week since July, with the S&P 500 climbing 29.40, or 0.7%, to 4,405.71. The ...

Foxconn’s Terry Gou will seek Taiwan presidency as an independent, but he’ll need signatures to run

Published Wed, 26 Feb 2025 08:49:57 GMT

TAIPEI, Taiwan (AP) — Terry Gou, who founded Apple supplier Foxconn, said Monday he will run as an independent candidate in Taiwan’s presidential election, ending months of speculation.At a news conference, Gou criticized the governing Democratic Progressive Party, saying its policies have “brought Taiwan into the risk of war” with China, which claims the self-ruled island democracy as part of its territory.“I will definitely not allow Taiwan to become the next Ukraine,” he added.He said Taiwan also needs new approaches on the economy and other matters at home. “Domestically, the national policy direction is filled with all sorts of mistakes. There’s no way to solve the difficulties of Taiwanese industry and people’s livelihoods,” he said.Gou’s Foxconn, formally known as Hon Hai Precision Industry Co., is a major supplier to Apple and has many factories in China that manufacture iPhones. Ideologically, Gou is most in line with the Kuomingtang, the opposition party that i...

An evacuation order finds few followers in northeast Ukraine despite Russia’s push to retake region

Published Wed, 26 Feb 2025 08:49:57 GMT

KUPIANSK, Ukraine (AP) — The thunder of mortar fire echoes in the distance as 5-year old David approaches his mother with an innocent request: Can he play with the baseball bat a relative gave him as a gift?Valeria Pototska rolls her eyes and tells her son no for the umpteenth time. It’s a toy for big kids, she scolds. The boy, who doesn’t so much as flinch when the weapons not far from their town in northeast Ukraine shoot off more rounds, pouts and peddles away on his bicycle.Other neighborhood children frolic in a playground in Kupiansk-Vuzlovyi, seemingly immune to the war unfolding 10 kilometers (6.2 miles) away. Ukrainian authorities this month ordered a mandatory evacuation of the village and three dozen other populated areas as war returned to Kharkiv province. So far, most residents have refused to go as the battle inches closer to their backyards. “It’s normal,” Pototska said of the soundtrack of weapons that punctuates the monotony of their daily lives. Olena Kanive...

Pleasant Chicago temps ahead, then possibly hot by the weekend; Hurricane Idalia takes aim at Florida; wildfires rage in Greece

Published Wed, 26 Feb 2025 08:49:57 GMT

A beautiful way to finish up the last weekend of August. Mostly sunny skies Sunday and Monday thanks to high pressure to our north bringing in the easterly winds. We might end up with a bit of Canadian wildfire smoke in our skies late Monday and into Tuesday with a weather system coming in from the northwest. Tuesday also has a slight chance of showers, but only about 20% of the area will likely see any raindrops. We look to return to sunshine and some summery temps by the end of the week. If you like some warmth, it's not a bad way to start out September and the Labor Day holiday weekend! Enjoy! WGN Weekly Climate report: In a month that's been pretty average temperature-wise, the past week had our hottest temperatures of 2023 in and around Chicago.August 24th had the first 100 degree reading at both Midway and O'Hare. It was the first triple digit temperature at O'Hare since July of 2012. The 100 degree reading at ORD tied the 1947 record for an August 24th high temp. It was ...

Driver ID'd in crash that killed 3 Uber riders, including 2 sisters, in South L.A. area

Published Wed, 26 Feb 2025 08:49:57 GMT

Police on Sunday identified the driver involved in a crash that killed three Uber passengers and left the driver and another passenger hospitalized in the unincorporated Westmont area over the weekend.The crash occurred around 5:30 a.m. Saturday morning at the intersection of Vermont Avenue and Century Boulevard. 3 Uber passengers dead; driver, other passenger in critical condition after violent crash in South L.A. Investigators said the suspect's car ran a red light when it struck the side of the ride-share vehicle.The suspect was identified as 31-year-old Gregory Black, who police say faces vehicular manslaughter charges. The occupants of the Uber vehicle included the 38-year-old female driver, a male passenger, and three female passengers who died as a result of the crash.The three victims were identified as Juvelyn Arroyo, 23, Veronica Amezola, 23, and Kimberly Izquierdo, 27. Police said two of the three were sisters. The driver and male passenger were expected to recover a...

Reigning Olympic champion Sunisa Lee overcomes health issue to compete at US Championships

Published Wed, 26 Feb 2025 08:49:57 GMT

SAN JOSE, Calif. (AP) — Strictly going by standings, reigning Olympic all-around gold medalist Sunisa Lee finished last at the U.S. Championships — yet ask anybody who knows her and they will view those results in a completely different light.“I’m beyond proud of her that she was able to come out here and show what she did,” Jordan Chiles said. “It is exciting to see her overcome everything that she has and come back out here stronger, because I think it does send a good message to the younger ones,” said Simone Biles, who won her eighth championship.The score sheet with Biles on top and Lee at the very bottom hardly told the story of Lee’s tumultuous year dealing with a kidney-related health issue and just how much it took to even get to San Jose this past week.In and out of the hospital because of the kidney issue, the 20-year-old Lee was forced to end her sophomore collegiate season early at Auburn. On April 3, she posted on social media: “My focus at this time is my ...

China won’t require COVID-19 testing for incoming travelers starting Wednesday

Published Wed, 26 Feb 2025 08:49:57 GMT

BEIJING (AP) — China will no longer require a negative COVID-19 test result from incoming travelers starting Wednesday.It is a milestone toward ending the virus restrictions imposed in China since early 2020.Foreign Ministry spokesperson Wang Wenbin announced the change at a briefing Monday.The Associated Press

Migrant boat sinking off Greek island leaves 4 dead, 18 rescued

Published Wed, 26 Feb 2025 08:49:57 GMT

ATHENS, Greece (AP) — Greek authorities said that four people died and 18 were rescued Monday after a boat carrying migrants apparently sank northeast of the Greek island of Lesbos, which lies near the Turkish coast.The coast guard said one of its vessels collected the 18 survivors and four people found unconscious and transported them to the island’s main port of Mytilene.Over the weekend, the coast guard has said it has picked up dozens of people from boats near eastern Aegean Sea islands, part of an increase in new arrivals over the past two months.For decades Greece has been one of the preferred entry points into the European Union for people fleeing conflict or poverty in the Middle East, Africa and Asia and hoping for a better life in Europe.More than 14,000 people have reached Greece by land and sea so far this year, according to United Nations figures. That’s about a tenth of the total successful Mediterranean crossings, most of which — about 104,000 — were to Italy. Arrival...

Typhoon Saola lashes northern Philippines and heads toward Taiwan, southern China

Published Wed, 26 Feb 2025 08:49:57 GMT

TAIPEI, Taiwan (AP) — A typhoon dumped heavy rain in the northern Philippines but didn’t make landfall as it moved toward southern Taiwan and is aiming at China’s southern coast. Flooding in low-lying villages displaced more than 2,300 people, most of whom sought shelter in government evacuation centers, disaster-response officials in the northern Philippines said. No casualties have been reported. Weather authorities warned of the risk of further floods and landslides, especially in mountainous areas that had seen heavy rains over the past few days.The typhoon advanced with maximum winds of 155 kph (96 mph) and gusts of up to 190 kph (118 mph), according to the Philippine weather bureau. Inter-island ferries and cargo vessels were barred from leaving ports in some areas of the northern Philippines. The Chinese port city of Xiamen, across the strait from Taiwan, suspended ferry services starting on Tuesday.Typhoon Saola was expected to further weaken and may hit the sout...

A Russian who worked at a US consulate is accused of collecting information for US diplomats

Published Wed, 26 Feb 2025 08:49:57 GMT

MOSCOW (AP) — Russia’s top domestic security agency said Monday that a detained former employee of the U.S. Consulate in Vladivostok is accused of collecting information about Russia’s action in Ukraine and related issues for U.S. diplomats.Russia’s Federal Security Service, or FSB, the country’s main domestic security agency, said Robert Shonov is suspected of “gathering information about the special military operation, mobilization processes in Russian regions, problems and the assessment of their influence on protest activities of the population in the runup to the 2024 presidential election.”The FSB, the top KGB successor, said it has served summonses to question two U.S. diplomats who allegedly instructed Shonov to collect the information.Shonov’s arrest was first reported in May, but Russian authorities provided no details at the time. The U.S. State Department has condemned his arrest.Shonov was charged under a new article of Russian law that criminalizes “coopera...