World/National Archives - Page 17 of 72

Stock market today: Wall Street rips higher after inflation data and strong bank profits

NEW YORK (AP) — U.S. stocks are ripping higher an encouraging update on U.S. inflation. The S&P 500 jumped 1.7% Wednesday. The Dow Jones Industrial Average climbed 664 points, and the Nasdaq composite gained 2.2%. Strong profit reports from the biggest U.S. banks also helped launch indexes toward their best day in two months. Wells Fargo, Citigroup and Goldman Sachs helped lead the way. Treasury yields eased on hopes that Wednesday’s inflation update could help convince the Federal Reserve to cut interest rates further later this year. European stocks rallied, while Asian markets were more subdued.… Continue Reading

Bondi in her confirmation hearing says Trump was ‘targeted’ by Justice Department investigations

WASHINGTON (AP) — Donald Trump’s pick for attorney general, Pam Bondi, has insisted at her Senate confirmation hearing that Trump was targeted by years of investigations. Bondi pledges she would not “politicize” the Justice Department if confirmed as the country’s chief federal law enforcement officer. Bondi’s statements Wednesday echoed Trump’s claims the Justice Department had been weaponized against him. Democrats are concerned the Republican president-elect will look to use the agency’s law enforcement powers to exact retribution against his adversaries, including the investigators who investigated him. Bondi s a former Florida attorney general. Bondi says she would work to restore confidence and integrity to the Department of Justice.… Continue Reading

FDA floats plan to make cigarettes nonaddictive, but its fate rests with Trump

WASHINGTON (AP) — The Biden administration is floating a long-awaited proposal to make cigarettes less addictive by capping their nicotine levels. But the plan comes in the final days of his presidency and is unlikely to take effect anytime soon. Implementing low-nicotine cigarettes would fall to the administration of incoming president-elect Donald Trump, who has generally favored lighter regulation of tobacco products. The FDA says making cigarettes nonaddictive would help millions of Americans quit smoking and stop future generations from starting. Antismoking advocates have long urged the FDA to take that step. But FDA efforts have been slowed by lobbying and political pushback.… Continue Reading

Hegseth confronts allegations of misconduct as senators grill Trump’s choice for Pentagon chief

WASHINGTON (AP) — Pete Hegseth vows to bring “warrior culture’” to the military if confirmed as President-elect Donald Trump’s defense secretary pick. Hegseth is dismissing the sexual assault allegations against him as a “smear” campaign. The former combat veteran and TV news show host calls himself a “change agent’ as senators determine whether he is fit to lead the U.S. military. Chairman Roger Wicker says Hegseth will “shake up” the Pentagon. But the top Democrat Sen. Jack Reed says the allegations against Hegseth are “extremely alarming.” Tuesday’s hearing starts a weeklong marathon as the Republican-led Senate rushes to have some of Trump’s Cabinet picks ready to be confirmed as soon as Inauguration Day, Jan. 20.… Continue Reading

Stock market today: Wall Street ticks higher after encouraging inflation data

NEW YORK (AP) — Most U.S. stocks are rising following an encouraging update on inflation, but drops for Eli Lilly and some other influential companies are keeping indexes in check. The S&P 500 rose 0.1% Tuesday, with roughly 70% of the stocks in the index higher. The Dow Jones Industrial Average added 134 points, and the Nasdaq composite was close to flat. Treasury yields were relatively steady in the bond market after a report showed inflation at the U.S. wholesale level wasn’t as high last month as economists expected. Oil prices gave back some of their big gains from recent weeks.… Continue Reading

Special counsel Jack Smith has resigned after submitting his Trump report, Justice Department says

WASHINGTON (AP) — Special counsel Jack Smith has resigned from the Justice Department after submitting his investigative report on President-elect Donald Trump. It was an expected move that comes amid legal wrangling over how much of that document can be made public in the days ahead. The department disclosed Smith’s departure in a court filing Saturday, saying he had resigned one day earlier. The resignation, 10 days before Trump is inaugurated, follows the conclusion of two unsuccessful criminal prosecutions against Trump that were withdrawn following Trump’s White House win in November. At issue now is the fate of a two-volume report that Smith and his team had prepared about their twin investigations on Trump.… Continue Reading

Los Angeles wildfires death toll rises as crews fight heavy winds to save homes and landmarks

LOS ANGELES (AP) — The death toll from the wildfires ravaging the Los Angeles area has risen to 16 as crews battle to cut off the spreading blazes before potentially strong winds return that could push the flames toward some of the city’s most famous landmarks. The Los Angeles County coroner’s office says five of the deaths were attributed to the Palisades Fire and 11 resulted from the Eaton Fire. There were fears that winds could move the fires toward the J. Paul Getty Museum and the University of California, Los Angeles, while new evacuation warnings have more homeowners on edge. The California Office of Emergency Services says 150,000 people in Los Angeles County are under evacuation orders, with more than 700 people taking refuge in nine shelters.… Continue Reading

Judge sentences Trump in hush money case but declines to impose any punishment

NEW YORK (AP) — President-elect Donald Trump has been sentenced in his New York hush money case, but the judge has declined to impose any punishment. The sentence pronounced Friday by Manhattan Judge Juan M. Merchan cements Trump’s conviction while freeing him to return to the White House unencumbered by the threat of a jail term or a fine. It caps a norm-smashing case that saw the Republican convicted of 34 felony counts of falsifying business records related to a payment to bury affair allegations that threatened to cloud his 2016 presidential run. Yet it didn’t hurt him with voters. Trump denies wrongdoing and has vowed to appeal.… Continue Reading

Jimmy Carter lauded for his humility and service in Washington before his return to Georgia

WASHINGTON (AP) — Former U.S. President Jimmy Carter was honored with the pageantry of a funeral in the nation’s capital before a second service in his tiny Georgia hometown that launched a Depression-era farm boy to the world stage. The dual funerals Thursday conclude six days of national funeral rites for the 39th president who died Dec. 29 at the age of 100. President Joe Biden eulogized Carter in Washington. Carter’s other living successors attended along with other dignitaries. His afternoon funeral in Plains, Georgia, is a small affair limited to family, friends and members of Maranatha Baptist Church. Carter will be buried alongside his late wife, Rosalynn Carter, in the same town where they were born, lived most of their lives and died.… Continue Reading

Farming and wildfire tech is on display at CES as companies showcase their green innovations and initiatives

LAS VEGAS (AP) — Sustainability is a key theme this year at the annual CES tech trade show in Las Vegas. Agriculture tech is on full display on the show floor while companies big and small also showcase their green innovations and initiatives. That includes Volvo CEO Martin Lundstedt’s vow to reach net-zero emissions by 2040 and Wisconsin-based OshKosh Corporation’s electric fire engines and garbage trucks. John Deere also unveiled a fleet of fully autonomous equipment like tractors that are already in use on some farms and orchards. Some experts say AI is key to the industry’s future as climate change makes farming more unpredictable.… Continue Reading