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Stock markets tumble Tuesday amid higher bond yields, interest rate expectations

Published Wed, 12 Feb 2025 18:27:37 GMT

TORONTO — Canada’s main stock index closed down almost 250 points Tuesday with broad-based losses led by the telecom, utilities and base metal sectors, while U.S. stock markets also tumbled.The S&P/TSX composite index closed down 244.46 points at 19,556.15.In New York, the Dow Jones industrial average was down 388.00 points at 33,618.88. The S&P 500 index was down 63.91 points at 4,273.53, while the Nasdaq composite was down 207.71 points at 13,063.61.September has so far been a rocky month, said Allan Small, senior investment adviser at iA Private Wealth. While there wasn’t one specific news item causing markets to slip Tuesday, there’s a lot for investors to worry about, he said.“I think the short sellers are out in full force,” he said.With stubborn inflation amid a slowing economy, soaring bond yields, higher energy costs and a second looming U.S. government shutdown, “there are so many reasons … to be negative,” said Small.A group of reports in the U.S. pain...

Judge rules Trump committed fraud in building real estate empire

Published Wed, 12 Feb 2025 18:27:37 GMT

A New York judge on Tuesday found former President Trump liable for fraud, handing a major legal victory to New York Attorney General Letitia James (D) in her sprawling civil case over Trump’s businesses.New York Supreme Court Judge Arthur Engoron granted James’s request to find Trump liable for the first of seven causes of action she has accused him of in the lawsuit.Engoron simultaneously denied Trump’s demand to toss the entire suit without trying the case.  The non-jury trial on the remaining matters is set to begin Monday, barring Trump’s separate, last-minute effort for a delay.Engoron also granted James’s request to sanction five of Trump’s lawyers for bringing up already-dismissed arguments in court, ordering them to pay a $7,500 fine each.James’s office is suing Trump, the Trump Organization and two of his adult children — Eric Trump and Donald Trump Jr.— claiming more than a decade of fraud. The lawsuit alleges Trump’s company sought...

Oldest priest in the Archdiocese of Chicago, Rev. Albert Adamich, dies at 101

Published Wed, 12 Feb 2025 18:27:37 GMT

CHICAGO — Rev. Albert R. Adamich, who was the oldest priest in the Archdiocese of Chicago, died last week at 101.According to the Archdiocese of Chicago, Rev. Adamich died on Thursday, Sept. 21.Born in Joliet, Ill., on May 15, 1922, "Father Al” was ordained to the priesthood in May of 1948 and celebrated 75 years of service to the church in 2023, according to the archdiocese. As federal government shutdown looms, Illinois braces for impact Rev. Adamich attended Quigley Preparatory Seminary in Chicago and the University of Saint Mary of the Lake and Mundelein Seminary before graduating in 1947.Rev. Adamich served as assistant pastor at Mother of God Parish in Waukegan, which later became Most Blessed Trinity Parish, St. Hubert Parish in Hoffman Estates and St. Symphorosa Parish in Chicago.Adamich later served as the associate pastor of Most Holy Redeemer Parish in Evergreen Park and for 20 years, he served as pastor of Mother of God Parish before he was bestowed the title of pastor...

Republicans blame Democrats' policies for crime in Chicago

Published Wed, 12 Feb 2025 18:27:37 GMT

WASHINGTON (NEXSTAR) — Congressional Republicans held a remote hearing on crime in the United States Tuesday where they placed blame on policies created by Democrats.During the hearing, those in attendance heard from Gianno Caldwell, a Fox News political analyst whose younger brother, Christian, was shot and killed last year in Chicago. "Christian will never have the opportunity to go to college," Caldwell said. "Shot down in the street by a stranger when a group of men stepped out of a black SUV and fired into a crowd."He alongside former police officers claimed that Democrats' policies on crime have only added fuel to the fire. One officer who spoke, Carlos Yanez, retired after he was wounded in a 2021 shooting. Yanez was especially critical of Illinois' decision to end cash bail and the city of Chicago's decision to restrict foot chases for law enforcement. "Stop coddling criminals and hold them accountable," Yanez said.Among the congressional leaders at the hearing, Rep. Jim Jor...

Federal judge issues permanent injunction on Texas drag performance law

Published Wed, 12 Feb 2025 18:27:37 GMT

HOUSTON (KXAN) — A federal judge issued a permanent injunction Tuesday against a Texas law that would restrict and even criminalize drag performances, handing a legal victory to a local drag performer who joined four other plaintiffs in suing state leaders to block the law from taking effect. In his lengthy 56-page ruling, U.S. District Judge David Hittner concluded his order by saying Senate Bill 12 "is an unconstitutional restriction on speech," adding he believed it violates the First and Fourteenth Amendments. Hittner also wrote in his ruling that Texas Attorney General Ken Paxton and several other officials cannot enforce the law. His decision also came after he issued two temporary restraining orders to provide more time to announce his final decision. Check out more of KXAN's in-depth reporting on LGBTQ+ issues in Texas The American Civil Liberties Union of Texas, which helped represent the plaintiffs in this case, released a statement Tuesday afternoon celebrating the ju...

Swiss sportswear company to replace now-closed Lucy in Disguise on South Congress

Published Wed, 12 Feb 2025 18:27:37 GMT

Editor's Note: The above video is KXAN reporting on the closure of Lucy in Disguise with Diamonds costume shop.AUSTIN (KXAN) — A Swiss athletic company will replace the now-shuttered Lucy in Disguise with Diamonds shop on South Congress, bringing another international brand to the street. On, a Swiss sportswear company popular for its running shoes, is opening an Austin store in summer 2024, a company representative said. This is part of the company's expansion into the U.S.Exterior of former Lucy in Disguise shop (KXAN Photo/Taylor Girtman)Popular costume store Lucy in Disguise announced it is closing by the end of 2022. (KXAN Photos/Andrew Choat)Costume store Lucy in Disguise closed last year after 38 years on South Congress. The store manager previously told KXAN the closure decision was led by pandemic challenges and supply chain issues.  PREVIOUS: Lucy in Disguise celebrates its final Halloween before closing More South Congress changesSeveral national and international ...

Travis County call for better transparency, briefing on I-35 expansion project

Published Wed, 12 Feb 2025 18:27:37 GMT

TRAVIS COUNTY, Texas (KXAN) -- Travis County commissioners approved Tuesday submitting a new letter to the Texas Department of Transportation outlining requests and concerns with the Interstate 35 Capital Express Central project.TxDOT's I-35 expansion near downtown Austin is a $4.5 billion, eight-mile project expected to begin construction as early as mid-2024. In late August, TxDOT officials released its final environmental impact statement and record of decision, a required process through the National Environmental Policy Act for any projects incorporating federal dollars or participation.Commissioners first penned a letter in February outlining a slew of environmental and socio-cultural the project could have on residents and neighborhoods dwelling along the I-35 corridor. Within TxDOT's project, officials noted several of the impacted neighborhoods and displaced properties have a higher concentration of lower-income, non-white and non-native English speaking residents. PREVIO...

Francis Wilkinson: Democrats have to solve their Menendez problem

Published Wed, 12 Feb 2025 18:27:37 GMT

Al Franken was an above-average senator from Minnesota who was driven from office in 2018 by his Democratic colleagues after several women accused him of touching them inappropriately or making them feel physically uncomfortable. Democrats opposing Donald Trump — then a confessed groper, later found liable for rape — did not want to have to defend the unseemly behavior of one of their own. Collectively, they applied sufficient pressure on Franken that he felt compelled to quit the Senate.Bob Menendez is a below-average senator from New Jersey who is now facing his second round of charges of public corruption. Democrats opposing Trump — whose corrupt practices in business and politics are fodder for Democratic campaigns — should not have to defend Menendez’s conduct. So his Democratic colleagues need to make him understand that the Senate would be better off without him.Menendez was indicted Friday in a 39-page howitzer from Damian Williams, the U.S. att...

Country star Morgan Wallen books June stop at U.S. Bank Stadium

Published Wed, 12 Feb 2025 18:27:37 GMT

Country star Morgan Wallen will return to U.S. Bank Stadium on June 20 and this time he’s the headliner.Those seeking tickets need to register in advance at registration.ticketmaster.com/morganwallen by the end of the day Sunday. Once registration is closed, fans will be randomly selected to receive a day and time of the presale along with a code to purchase tickets. VIP packages will be available at 11 a.m. Oct. 4 via vipnation.com. Neither the venue nor the promoter announced ticket prices.Wallen, 30, emerged in 2014 as a contestant on the sixth season of “The Voice,” but was eliminated during the playoffs. He released his debut EP the following year and scored his first major hit with 2017’s “Up Down.” Nearly every single he’s released since has landed at either No. 1 or 2 on the country charts.After releasing his debut album “If I Know Me” in 2018, Wallen hit the road and opened for Luke Bryan at Target Field that July. His sophomore effort, “Dangerous: The Dou...

2 students brought guns to Roseville Area High School in separate Monday incidents, charges say

Published Wed, 12 Feb 2025 18:27:37 GMT

Two Roseville Area High School students were found with guns in unrelated incidents Monday, according to charges filed Tuesday.One case involved a gun with an extended magazine and no serial number, while the other involved a stolen gun and recent fights, court documents said.“While this is scary for all of us – adults and students – I have comfort in the work we are doing every day to reduce risk,” Principal Jen Wilson wrote in a message to the school’s families.On Monday morning, school staff found a .22-caliber handgun in a 17-year-old student’s backpack. Staff said the teen “had an ongoing disagreement with another student at the school and that fights had been reported off and on school property,” according to a juvenile petition. “The fight on school property had been broken up by staff and the participants separated.”Staff was “working to de-escalate a conflict among a very small group of students,” Wilson wrot...