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Inflation drops sharply in Europe. It offers a glimmer of hope, but higher oil prices loom

Published Wed, 26 Feb 2025 18:47:18 GMT

FRANKFURT, Germany (AP) — Inflation that has been plaguing Europeans declined sharply in September, strengthening hopes that consumers will eventually get relief from costlier groceries, vacations and haircuts — and that the European Central Bank won’t have to further restrict the economy by raising interest rates from already-record highs.The annual rate was 4.3% this month, a drop from 5.2% in August. But recently higher oil prices are casting a shadow over prospects for beating inflation back down to the central bank’s target of 2%. Core inflation, which excludes volatile fuel and food prices, fell more than analysts expected — to 4.5% from 5.3%, according to data released Friday by the European Union’s statistics agency, Eurostat. The ECB closely watches this figure to assess how inflation is coming down.The fall in core inflation “reinforces our view that the ECB has finished raising interest rates,” said Jack Allen-Reynolds, deputy chief eurozone economist at Capital Eco...

Leaders of European Union’s Mediterranean nations huddle in Malta to discuss migration

Published Wed, 26 Feb 2025 18:47:18 GMT

VALLETTA, Malta (AP) — The leaders of nine southern European Union countries met in Malta on Friday to discuss common challenges such as migration, the EU’s management of which has vexed national governments in Europe for years.The nations represented at the one-day huddle included host Malta, France, Greece, Italy, Croatia, Cyprus, Portugal, Slovenia and Spain. With the exceptions of Slovenia and Croatia, which were added to the so-called “Med Group” in 2021, the countries all rim the Mediterranean Sea. Two top EU officials — European Commission President Ursula von der Leyen and European Council President Charles Miche — were invited to the closed-door meeting. The leaders of the EU’s 27 nations have an informal European Council meeting scheduled for next week in Spain. The huddle’s main aim is to help develop consensus among the members on major issues concerning all EU countries.However, unity among EU members on migration has been elusive, as witnessed in Brussels d...

Swiss indict daughter of former Uzbek president in bribery, money laundering case involving millions

Published Wed, 26 Feb 2025 18:47:18 GMT

GENEVA (AP) — Swiss federal prosecutors have indicted the daughter of a former president of Uzbekistan on charges including money laundering, bribery and participation in a criminal network that used “violence and intimidation.” Authorities have already frozen or confiscated hundreds of millions of Swiss francs (dollars) in the case.The attorney general’s office said Gulnara Karimova, the daughter of former President Islam Karimov, was indicted along with the former director-general of the Uzbek subsidiary of a Russian telecommunications company for crimes allegedly committed between 2005 and 2013. That was during Karimov’s tenure: He led the central Asian country for more than a quarter-century until his death in September 2016. His daughter once served at the U.N. office in Geneva, and benefited from diplomatic immunity.Culminating a criminal probe that was opened more than a decade ago, the prosecutors announced the indictment on Thursday and said Karimova allegedly d...

Stock market today: European shares gain and Asian shares are mixed, with Chinese markets on holiday

Published Wed, 26 Feb 2025 18:47:18 GMT

BANGKOK (AP) — Shares advanced in Europe on Friday after a day of mixed and sparse trading in Asia, where many markets were closed for public holidays. Oil prices edged higher and U.S. futures advanced. Crude oil prices are hovering near their highest levels this year, adding to the inflationary pressures that are a factor behind the Federal Reserve’s intention to keep interest rates high. The likelihood of a U.S. federal government shutdown is also clouding the outlook for the U.S. economy.Germany’s DAX rose 0.8% to 15,438.45 and the CAC 40 in Paris also added 0.8% to 7,176.34. London’s FTSE 100 was up 0.7% at 7,655.90.The futures for the S&P 500 and the Dow Jones Industrial Average were both less than 0.5% higher. On Thursday, Wall Street’s benchmarks ticked higher, trimming its sharp loss for September. The S&P 500 rose 0.6% and the Dow gained 0.3%. The Nasdaq composite climbed 0.8%. In Asian trading Friday, Tokyo’s Nikkei 225 index lost 0.1% to 31,857.6...

As employers face labor shortages, Biden administration rolls out playbook for training workers

Published Wed, 26 Feb 2025 18:47:18 GMT

WASHINGTON (AP) — The Biden administration on Friday is expected to release a playbook on best practices for training workers as the low 3.8% unemployment rate and years of underinvestment have left manufacturers, construction firms and other employers with unfilled jobs.Worker shortages have been a frustration for some employers, who upped their investments in new factories and construction projects after President Joe Biden signed into law funding for infrastructure, computer chips and a shift toward renewable energy sources. Finding employees to replace retirees also has become a challenge.As part of the 2021 pandemic rescue package, state and local governments have committed $11 billion to worker training. The money must be spent by the end of 2026 and the administration is trying to ensure the investments pay off as promised.“This is a chance to make a once-in-a-generation investment in the skills and well-being of workers in your communities — an investment that will reap bene...

A few more hot days and then cooling rain arrives

Published Wed, 26 Feb 2025 18:47:18 GMT

AUSTIN (KXAN) -- Plan on a mostly sunny and very warm Friday with highs back up in the mid 90s again. In fact, we could be slightly hotter than we were on Thursday by a degree or so. This would make today our hottest day of the next 7.Today's forecastThis weekend, the heat continues with highs in the mid 90s. Both Saturday and Sunday carry low (10%) rain chances, generally favoring areas south and west of Austin. We'll notice more clouds on Sunday than Saturday.Weekend forecastWe continue this pattern into Monday.Beginning Tuesday our rain chances start to tick up ahead of a welcome cold front.Wednesday and Thursday rain is likely with downpours and thunderstorms both days. Generally the wettest weather looks to be during the second half of Wednesday and the first half of Thursday as our cold front pushes through. Once it clears the area drier weather takes over again, but the post-frontal air shouldn't be as warm with highs in the mid 80s. Highs for the next weekFirst Warning: Wett...

Union anticipating a motivated St. Lawrence team in Liberty League opener

Published Wed, 26 Feb 2025 18:47:18 GMT

SCHENECTADY, N.Y. (NEWS10) -- It's time for the Liberty League to finally get a taste of what Jon Poppe and the Union College football team is cooking up in Schenectady. Get the latest news, weather, sports and entertainment delivered right to your inbox! The Garnet Chargers open up conference action Saturday with St. Lawrence on Homecoming and Family Weekend - a team they beat 44-7 last year behind four scores on the ground from running back Michael Fiore.Union wrapped up its' non-conference slate last Saturday with another thumping - a 43-7 win over Montclair state, and has now outscored its' four opponents 205-14 this year.The common belief amongst this group is that a new season begins this weekend, and they know they're going to see a fired up Saints squad gunning for some payback."Non-conference play is kinda the first season, and then…once you move into conference play, every game is a playoff game essentially," said Fiore. "So, we're ready to go. We wanna show the rest of ...

Ballston Spa bests Guilderland in rare Thursday night tilt

Published Wed, 26 Feb 2025 18:47:18 GMT

BALLSTON SPA, N.Y. (NEWS10) -- With a full menu of high school football games on tap for Friday, Ballston Spa and Guilderland gave Section II fans a little appetizer with a rare Thursday-night game. The Scotties defended their home turf, securing a 26-16 win. Get the latest news, weather, sports and entertainment delivered right to your inbox! The Dutchmen put them on their heels, though, with an opening-drive touchdown on a two-yard, fourth-and-goal pass from Travis Berschwinger to Owen Balleau.Ballston Spa responded on its' ensuing drive. Junior wide receiver Kalai Leahey-Makanani took a jet sweep nine yards into the end zone, tying the game at seven. Two possession later, senior quarterback Nico Savini connected with Jake Powell for a touchdown strike that put Ballston Spa ahead 14-7.Guilderland answered with six before the half, but after a missed PAT, the Scotties still maintained an edge at halftime.The first points of the second half came courtesy of a 27-yard field goal fr...

Siena Basketball holds season sneak preview

Published Wed, 26 Feb 2025 18:47:18 GMT

ALBANY, N.Y. (NEWS10) -- Siena Athletics is known for being active in the Albany community. Saints fans gathered at MVP Arena Thursday evening to participate in a Sneak Peak of the upcoming 2023-24 basketball season. Get the latest news, weather, sports and entertainment delivered right to your inbox! Coaches and players from the Men's and Women's basketball teams attended and had a chance to mix and mingle with some of their fans, alumni, and current students. Both teams are coming off MAAC tournament appearances and are excited about what this season has in store.However, before that time comes, coaches and players wanted to take a moment and honor one of the Siena traditions of giving back."It's just what Siena basketball is about," said head coach Carmen Maciariello. "We have a great fan base I think we were 75th nationally in attendance last year, so hey come give of yourself, eat some great food from Cardona's, and meet and greet."The men start their season against Holy Cros...

Kazakhstan is building more connections with the world

Published Wed, 26 Feb 2025 18:47:18 GMT

Kazakhstan is charting a reform course that will reverberate beyond its borders as it seeks to boost economic growth and attract foreign investment, writes Murat Nurtleu.The plan, outlined by President Kassym-Jomart Tokayev in his State of the Nation address earlier this month, provides a clear vision for the country's development over the next three years and will have broader ramifications for regional development and cooperation.Strategically located at the intersection of Europe and Asia, Kazakhstan has long been a crucial nexus for transportation and trade. Indeed, over 80% of goods bound for Europe from China and Central Asia, measured by volume, pass through Kazakhstan.Our new economic agenda places significant emphasis on investments in infrastructure and logistics along the International North-South Transport Corridor, which connects India and Europe, and the Trans-Caspian International Transport Route, also known as the Middle Corridor, which connects China and Europe via ...