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Stock market today: Wall Street opens modestly higher but still headed for a loss in August

Published Fri, 07 Feb 2025 01:36:01 GMT

NEW YORK (AP) — Stocks are opening modestly higher on Wall Street, on track to end a mostly miserable August on an up note. The S&P 500 was up 0.2% in early Thursday. It’s still on track for its first monthly loss since February. The Dow rose 165 points, or 0.5%. The Nasdaq composite was up 0.2%. Treasury yields were holding relatively steady. The government reported that the measure of inflation that’s closely tracked by the Federal Reserve remained low last month. That’s the latest sign that price increases are cooling. Investors are hoping the Fed may be close to done raising interest rates. THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.Wall Street pushed higher Thursday ahead of new inflation and jobs data that could influence the Federal Reserve and its policy decisions regarding benchmark interest rates. Futures for the Dow Jones industrials rose 0.5% and the S&P 500 advanced 0.2% as more corporate earnings reports trickled in after the bell Wednesda...

Shopify, Amazon strike deal to integrate ‘Buy with Prime’ in Shopify stores

Published Fri, 07 Feb 2025 01:36:01 GMT

TORONTO — Shopify Inc. has reached an agreement with rival Amazon.com Inc. that will allow Shopify merchants to embed Amazon’s logistics capabilities within their Shopify stores.The competing e-commerce companies say the deal centres on an app Amazon will release within Shopify’s ecosystem letting U.S. merchants that use Amazon’s fulfilment network to add Buy with Prime to their Shopify checkout process.Buy with Prime is an Amazon program helping merchants offer speedy shipping on orders made through their own sites by leveraging the Seattle-based business’s behemoth fulfilment network.Before the surprise deal was announced, merchants using Ottawa-based Shopify had to manage Buy with Prime independent of their Shopify stores.When the app is made available to U.S. merchants using Amazon fulfilment over September, the companies say Prime members will land access to fast and free delivery outside of Amazon.com for the first time ever.Shopify president Harley Finkelstein had long ...

Kia recalls cars to fix trunk latch that won’t open from the inside and could trap people

Published Fri, 07 Feb 2025 01:36:01 GMT

DETROIT (AP) — Kia is recalling about 320,000 cars in the U.S. to fix a problem that could prevent the trunk from being opened from the inside.The recall covers the Optima midsize car from 2016 through 2018, Optima hybrids and plug-ins from 2017 and 2018, and the Rio small car from 2016 and 2017.Kia says in documents posted Thursday by U.S. safety regulators that the trunk latch base can crack, and may not open from the inside. The National Highway Traffic Safety Administration says a person inside the trunk could become trapped.Dealers will replace part of the trunk latch base. Owners will be notified by letter starting Oct. 19.The Associated Press

German court convicts a Russian man of plotting to kill an exiled Chechen dissident

Published Fri, 07 Feb 2025 01:36:01 GMT

BERLIN (AP) — A German court on Thursday convicted a Russian man of plotting the murder of an exiled Chechen dissident on orders from a cousin of the Russian republic’s Moscow-backed strongman leader, Ramzan Kadyrov.The Munich state court sentenced the defendant, whom it identified only as Valid D. in line with German privacy rules, to 10 years in prison and also ordered the confiscation of his car. He was convicted of agreeing to commit murder, preparing a serious act of violence and violations of weapons laws.Judges found that a cousin of Kadyrov tasked him with killing an opponent who lives in Germany, Mokhmad Abdurakhmanov. They said the aim was to silence Abdurakhmanov’s elder brother, a prominent opponent of the Chechen government who lives in Sweden and had already been targeted there.The court found that the killing was ordered between March and June 2020, German news agency dpa reported. A court statement said that the defendant tasked another Chechen man, who t...

No injuries reported in train derailment, partial rail bridge collapse in South Dakota town

Published Fri, 07 Feb 2025 01:36:01 GMT

NORTH SIOUX CITY, S.D. (AP) — No injuries or hazardous spills have been reported in a train derailment in a southeastern South Dakota town that also saw a rail bridge partially collapse.The derailment happened shortly before 4 p.m. Wednesday in North Sioux City, the Union County Emergency Management office said in social media posts. Nineteen cars derailed as the train traveled over the rail bridge, which partially collapsed. It’s unclear whether the collapse caused the derailment or happened because of the derailment.Of the derailed cars, 14 were empty hopper cars and five were loaded with ethanol, officials said. None of the derailed ethanol cars were leaking following the derailment, officials said.North Sioux City is a town of about 3,000 people that lies just across the state border from Sioux City, Iowa.Television station KTIV reported that the derailed train was operated by D & I Railroad, based in Sioux Falls, South Dakota. A message left Thursday for the railroad ...

Norway will close its embassy in Mali, citing the security situation

Published Fri, 07 Feb 2025 01:36:01 GMT

COPENHAGEN, Denmark (AP) — Norway announced Thursday that it will close its embassy in Mali, saying the withdrawal of a U.N. peacekeeping force from the West African nation “will have consequences for the security of Norwegian and other diplomatic missions and international organizations.”In June, Mali Foreign Minister Abdoulaye Diop demanded that U.N. peacekeepers who have been grappling with an Islamic insurgency for more than a decade leave immediately, saying they had failed in their mission. At the end of the month, the U.N. Security Council adopted a resolution terminating the mandate for the U.N. force, known as MINUSMA, and requesting that its withdrawal be completed by the end of the year.Norwegian Foreign Minister Anniken Huitfeldt said the embassy in Bamako, Mali’s capital, will close by the end of the year and Norway will have ”to find other ways to follow up our interests in Mali moving forward.” The diplomatic mission also represents Norway in Burkina Faso, Mauri...

Maine woman pleads guilty in 14-month-old son’s fentanyl death

Published Fri, 07 Feb 2025 01:36:01 GMT

AUGUSTA, Maine (AP) — A Maine woman has pleaded guilty to manslaughter after her 14-month-old son’s fatal overdose, which led to the discovery of $700,000 worth of fentanyl and other drugs.Investigators went to Ashley Malloy’s home after she dialed 911 and her son Karson died in a hospital. They discovered white powder on a blanket and sheet in the bedroom where Karson had been sleeping. An autopsy determined the toddler died of complications from exposure to the powerful opioid fentanyl, law enforcement officials said.Malloy, 22, of Oakland, pleaded guilty Wednesday to drug charges in addition to manslaughter. She will be sentenced later.Her attorney said she didn’t understand the risk to her son, amounting to criminal negligence. The attorney said that others were trafficking drugs and that Malloy was merely an accomplice, not an active participant.State police detectives who searched her apartment found nearly 6 pounds (2.7 kilograms) of fentanyl, more than 3 pounds (1.4 kilogram...

Taylor Swift Eras Tour concert film coming to movie theaters in October

Published Fri, 07 Feb 2025 01:36:01 GMT

NEW YORK (AP) — Taylor Swift’s Eras Tour is coming to movie theaters.Swift announced Thursday that the concert film “Taylor Swift – The Eras Tour” will open in North American theaters Oct. 13. The theater chain AMC, anticipating high demand from Swift fans, said the film will play at least four times a day Thursday, Fridays, Saturday and Sundays at all of its U.S. locations.“The Eras Tour has been the most meaningful, electric experience of my life so far and I’m overjoyed to tell you that it’ll be coming to the big screen soon,” Swift said on social media channels.Prices will be higher than usual movie tickets. An adult ticket will cost $19.89 ( “1989 (Taylor’s Version)” is coming soon) and a child ticket is priced at $13.13 (seemingly a nod to her favorite number ). Advance sales began Thursday.In an usual move, AMC is also acting as distributor for the film. (“The Eras Tour” will additionally play in other chains.) AMC said in anticipatio...

Intact Financial estimates Q3 catastrophe losses so far at $570 million

Published Fri, 07 Feb 2025 01:36:01 GMT

TORONTO — Intact Financial Corp. estimates that its catastrophe losses due to wildfires and other weather events total about $570 million for the third quarter so far.The property and casualty insurance company says the amount comes to about $2.40 per share, but noted the wildfires continue to burn and actual losses may differ from its estimate.Intact says it will issue an update in early October if its catastrophe losses increase materially by the end of the quarter.The insurer noted that the estimated losses relate to a number of events in July and August, none of which met the threshold for reinsurance under its catastrophe reinsurance treaties.This year has seen the worst wildfire season in Canada on record. Intact chief executive Charles Brindamour says employees across Canada are supporting customers by providing confirmation of coverage and funding for additional living expenses, and are on the ground where possible to offer assistance.This report by The Canadian Press was fi...

Former Olympian Alexandra Paul remembered after fatal crash near Barrie

Published Fri, 07 Feb 2025 01:36:01 GMT

Whether on the ice, in the courtroom or in her latest role as a new mother, Alexandra Paul brought passion and joy to all she did, those who knew the former Olympic figure skater said as they mourned her death.Paul, 31, died last week in a crash involving seven vehicles in Melancthon Township, west of Barrie, Ont., when a transport truck entered a construction zone and crashed in a line of stopped cars.Police have said Paul’s infant son was with her and was taken to a children’s hospital to be treated for non-life-threatening injuries.Mike Slipchuk, the high-performance director with Skate Canada who had worked with Paul for years, said news of her death has been heartbreaking.Paul was “just a great-all-around person,” he said and will be remembered fondly by all who knew her.“She had an outgoing personality,” he said.“She was very fun to be around and had a very positive impact.”Slipchuk said he first met Paul in 2008 when she was com...