Home

This Week in Business: consumer prices, wholesale inflation, Lennar earnings

Published Wed, 12 Feb 2025 15:44:36 GMT

INFLATION WATCHThe Labor Department on Tuesday issues its November report on prices at the consumer level.Long past its painful peak, inflation in the United States may be heading steadily back toward its pre-pandemic levels. Overall inflation didn’t rise from September to October, the first time that consumer prices collectively haven’t risen month-over-month in more than a year. Analysts expect that prices remained flat from October to November.Consumer price index, monthly percent change, not seasonally adjusted:June: 0.2July: 0.2Aug.: 0.6Sept.: 0.4Oct.: 0.0Nov. (est.): 0.0Source: FactSetWHOLESALE PRICESOn Wednesday, the government releases its producer prices report.The producer price index measures inflation at the wholesale level, before businesses pass costs along to consumers. U.S. wholesale prices fell sharply in October as inflationary pressure continued to ease under the weight of higher interest rates. Wholesale prices dropped 0.5% in October from September.Producer pric...

UN officials, activists ramp up the urgency as climate talks enter final days

Published Wed, 12 Feb 2025 15:44:36 GMT

DUBAI, United Arab Emirates (AP) — Delegates at the United Nations climate talks have little time left to decide how the world plans to cap planet-warming emissions and keep the worst of warming at bay, ramping up the urgency as new drafts were expected on key outcomes of the summit. U.N. Secretary General Antonio Guterres returned to the summit on Monday and said it was “time to go into overdrive to negotiate in good faith and rise to the challenge.” He said negotiators in particular must focus on the reduction of greenhouse gas emissions and climate justice.He said the global stocktake — the part of talks that assesses where the world is at with its climate goals and how it can reach them — should “phase out all fossil fuels” in order to reach the goal of limiting the rise of global temperatures to 1.5 degrees Celsius (2.7 degrees Fahrenheit) compared with pre-industrial times.“We can’t keep kicking the can down the road,” Guterres said in brief remarks. “We are out of...

DC area sees continued rain, some snow ahead of windy start to week

Published Wed, 12 Feb 2025 15:44:36 GMT

Sunday’s rainstorms are expected to stretch well into Monday, bringing the potential for rain, cooler temperatures and wet snow to the D.C. area ahead of a brief break from wet weather.Through the early morning hours, WTOP meteorologist Lauryn Ricketts has reported an increase in some snow/mix for portions of D.C. and Montgomery County — some of which was visible outside of the WTOP newsroom.Ricketts said drivers should be prepared for this continued weather pattern throughout the early morning hours.“Cold air will also push in from the west, eventually changing some rain to wet snow/sleet before it pushes out for good by Monday morning. ” Ricketts tells WTOP.Ricketts said that while a lot of rain has been falling across the area, any of the wet snow or sleet the area could see is unlikely to stick. A coat of snow on grassy surfaces or tree branches, she said is likely to be the most you see.Aside from wet roadways, Ricketts said, drivers should only expect a few i...

Russia targets Kyiv with ballistic missiles. Ukraine says it intercepted all of them

Published Wed, 12 Feb 2025 15:44:36 GMT

KYIV, Ukraine (AP) — Russia fired eight ballistic missiles at Kyiv early Monday, all of which were shot down, Ukraine’s Air Force said. The thwarted attack still left one person injured by shrapnel and three more suffered severe stress reactions, officials said. A series of loud explosions rang out in Ukraine’s capital just after 4 a.m., as the city was under its nightly curfew, followed by air raid sirens. Interior Minister Ihor Klymenko said that in Darnytskyi district of eastern Kyiv the debris of an intercepted missile fell without catching fire, and elsewhere in the capital the explosive wave damaged the windows of a house. Kyiv is routinely targeted by Russian drone and missile attacks.Just over two weeks ago, Kyiv came under what Ukrainian officials said was the most intense drone attack since the beginning of Russia’s full-scale invasion in 2022. Ukraine’s air force said Russia launched 75 Iranian-made Shahed drones against the capital, of which 74 were destroyed by ai...

Stock market today: Asian shares mostly higher after Wall Street hits 2023 peak

Published Wed, 12 Feb 2025 15:44:36 GMT

Asian shares mostly gained on Monday after Wall Street reached a 20-month high ahead of a week that includes essential U.S. inflation data and the Federal Reserve’s final rate decision of the year.U.S. futures were higher and oil prices rose to recover some of their sharp losses in recent weeks.Hong Kong’s Hang Seng sank 0.8% to 16,208.21 and the Shanghai Composite added 0.7% to 2,990.35. In China, leaders agreed at an annual planning meeting last week to boost spending to accelerate the world’s second-largest economy, though details of policy changes were not provided. Despite the Chinese economy expanding by around 5% this year, in line with government targets, the recovery following the lifting of strict COVID-19 restrictions was short-lived, and a slowdown is expected next year. Data released on Saturday showed China’s consumer prices in November experienced their steepest fall in three years, in another sigh of weakness.Tokyo’s Nikkei 225 index gained 1.5% to 32,791.80 an...

Philippines military chief voices anger after latest confrontations with Beijing in South China Sea

Published Wed, 12 Feb 2025 15:44:36 GMT

MANILA, Philippines (AP) — The Philippine military chief said Monday he was with Filipino forces aboard a supply boat when it was blasted with a water cannon, surrounded and bumped by Chinese coast guard ships over the weekend in the disputed South China Sea.Gen. Romeo Brawner Jr. told The Associated Press in a telephone interview that China was escalating its aggression in the contested waters but said it would not deter Filipino forces from defending the Philippines’ territorial interests in the busy waterway.More than 100 Chinese government and suspected militia ships have swarmed the high seas around the contested Second Thomas Shoal, where a long-marooned Philippine navy ship that Brawner visited has stood for decades. He said the swarm of Chinese ships was much bigger than in previous months.“It’s pure aggression,” Brawner said of China’s high-seas maneuvers. “I witnessed how many times the big Chinese coast guard and militia ships cut our path. They water-cannoned us, t...

Munoz’s 15 lead Hawaii past D-II Hawaii Pacific 78-53

Published Wed, 12 Feb 2025 15:44:36 GMT

HONOLULU (AP) — Juan Munoz had 15 points in Hawaii’s 78-53 win over Division-II Hawaii Pacific on Sunday.Munoz shot 6 for 7, including 3 for 4 from beyond the arc for the Rainbow Warriors (7-1). Noel Coleman shot 6 for 10 (2 for 5 from 3-point range) and 0 of 3 from the free-throw line to add 14 points. Bernardo da Silva had 13 points and was 6-of-10 shooting and 1 of 3 from the free-throw line.Dominique Winbush finished with 18 points and five assists for the Sharks. Melo Sanchez added 10 points for Hawaii Pacific. In addition, Charlie Weber finished with eight points.___The Associated Press created this story using technology provided by Data Skrive and data from Sportradar.Source

Pompeii archaeologists uncover bakery that doubled as a prison

Published Wed, 12 Feb 2025 15:44:36 GMT

Rome (CNN) — An ancient bakery operated by slaves has been discovered in the ruins of Pompeii, the Pompeii Archaeological Park said in a statement released Friday.Enslaved people and donkeys were locked up together and used to power a mill to grind grain for bread, according to details of the discovery provided by the park.The site consists of a narrow room with no external view but only small, high windows covered by bars through which minimal light passed. There were also indentations in the floor “to coordinate the movement of the animals, forced to walk around for hours, blindfolded,” the statement said.The discovery was made in the Regio IX section of the popular tourist site, which is also an ongoing archaeological dig. The area is currently being excavated as part of a larger project designed to secure and maintain previously excavated areas of the Roman city.Archaeologists discovered the bakery while excavating an ancient Pompeiian home that was being renovated when Mount Ve...

Zelenskyy will meet Biden at the White House amid a stepped-up push for Congress to approve more aid

Published Wed, 12 Feb 2025 15:44:36 GMT

WASHINGTON (AP) — President Joe Biden and Ukraine’s leader, Volodymyr Zelenskyy, will meet at the White House on Tuesday as the U.S. administration steps up the pressure on Congress to provide billions more in aid to Kyiv in its war with Russia.The visit is intended “to underscore the United States’ unshakeable commitment to supporting the people of Ukraine as they defend themselves against Russia’s brutal invasion,” the White House said in a statement Sunday. “As Russia ramps up its missile and drone strikes against Ukraine, the leaders will discuss Ukraine’s urgent needs and the vital importance of the United States’ continued support at this critical moment.”Zelenskyy’s office confirmed that he had accepted Biden’s invitation. He also has been asked to speak to a meeting of all senators.Biden has asked Congress for a $110 billion package of wartime funding for Ukraine ($61.4 billion) and Israel, along with other national security priorities. But the request is c...

Pressure grows on Harvard President Claudine Gay after Penn’s Liz Magill resignation

Published Wed, 12 Feb 2025 15:44:36 GMT

New York (CNN) — Now that Liz Magill has stepped down as president of the University of Pennsylvania, the spotlight has turned to her counterpart from Harvard University, Claudine Gay.“One down. Two to go,” Republican Rep. Elise Stefanik of New York wrote on X, formerly known as Twitter, with the “two” being a reference to Gay and MIT President Sally Kornbluth. “In the case of @Harvard, President Gay was asked by me 17x whether calling for the genocide of Jews violates Harvard’s code of conduct. She spoke her truth 17x. And the world heard.”Stefanik serves on the House Committee on Education and the Workforce, which called on Magill, Gay, and Kornbluth last Tuesday to testify about their responses to alleged incidents of antisemitism on their campuses in the wake of the Israel-Hamas war.All three gave widely criticized testimony, in which they failed to condemn calls for the genocide of Jews as explicitly against campus harassment and bullying codes. On Friday, a...