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Turkish central bank raises interest rate 42.5% to combat high inflation

Published Tue, 25 Feb 2025 14:21:46 GMT

ANKARA, Turkey (AP) — Turkey’s central bank hiked its key interest rate by 2.5 percentage points on Thursday as part of its efforts to combat high inflation that has left many households struggling to afford rent and essential items.The bank’s Monetary Policy Committee raised its benchmark rate to 42.5%, delivering its seventh interest rate hike in a row to tame inflation, which rose to 61.98% last month.But the bank signaled that the rate hikes — which took borrowing costs from 8.5% to the current 42.5% — could soon end.“The committee anticipates to complete the tightening cycle as soon as possible,” it said. “The monetary tightness will be maintained as long as needed to ensure sustained price stability.”The series of rate hikes came after President Recep Tayyip Erdogan — a longtime proponent of an unorthodox policy of cutting rates to fight inflation — reversed course and appointed a new economic team following his reelection in May.The team includes former Merrill Lynch ba...

Xi Jinping elogia la cooperación con Rusia mientras el comercio supera el objetivo de 200 mil millones de dólares

Published Tue, 25 Feb 2025 14:21:46 GMT

(CNN) — China y Rusia concluyeron un excelente año de cooperación con una reunión anual de fin de año en la que ambos prometieron profundizar los lazos en una variedad de temas a medida que el comercio récord entre ellos superó un objetivo simbólico.El comercio bilateral entre China y Rusia superó los 200.000 millones de dólares en los primeros 11 meses del año, dijo el líder chino Xi Jinping en una reunión con el primer ministro Mikhail Mishustin este miércoles, marcando el logro antes de lo previsto de un objetivo fijado por Xi y su homólogo ruso Vladimir Putin en 2019.Luego, los dos líderes se comprometieron a alcanzar la marca de los 200 mil millones de dólares para 2024. El comercio entre sus países siguió expandiéndose a raíz de la invasión de Ucrania por parte del Kremlin en 2022, creciendo aproximadamente un 30% en 2022 hasta alcanzar un récord de 190 mil millones de dólares.Las últimas cifras comerciales muestran una “fuerte resiliencia y amplias perspectivas” de coop...

Denver weather: Mild end to week ahead of chance for snow

Published Tue, 25 Feb 2025 14:21:46 GMT

DENVER (KDVR) —Denver's weather will stay mild for the rest of the workweek ahead of the chance for snow showers leading up to Christmas Day. Pinpoint Weather: White Christmas confidence meterSunday is a Pinpoint Weather Alert Day.Weather today: Decreasing cloudsOn Thursday, clouds will decrease throughout the day. This will help high temperatures climb to the upper 50s, which is a little more than 15 degrees above normal for this time of year. Denver restaurant recognized nationally for having one of best dishes in US Pinpoint Weather: Daily highs on Dec. 21 Weather tonight: Mainly clearOvernight, Denver will stay under a mainly clear sky. Temperatures will stay cool, but seasonally mild and only fall to around 30 degrees. Pinpoint Weather: Overnight lows on Dec. 21 Looking ahead: Mild Friday ahead of weekend showers Friday will be another mild day with plenty of sunshine and a high in the mid to upper 50s. The next big change moves in this weekend. Denver will see rain showe...

2023 New Year's Eve fireworks in Colorado

Published Tue, 25 Feb 2025 14:21:46 GMT

DENVER (KDVR) — Ring in the new year with a bang. There will be fireworks shows across Colorado ranging from early in the night to right at midnight. Colorado is home to 2 of the most festive hotels in the US While there are not a lot of places in the Denver metro area that put on fireworks for New Year's Eve, you can still drive to these nearby spots if you're craving fireworks going into 2024.Downtown Denver9 p.m. and midnightWhen it comes to fireworks around the metro, the only display you will find is on the 16th Street Mall. Luckily, they're going to be dazzling. Last year's fireworks were worth hundreds of thousands of dollars.Colorado Springs9 p.m. and midnightJoin the over 100-year-old tradition and watch fireworks launch off Pikes Peak. Fireworks will first go off at 9 p.m. to honor the first "Frozen Five” climbers who started the tradition in 1922. The next fireworks will go off into the new year.Keystone7 p.m.Keystone is hosting night skiing from 4 p.m. to 7 p.m. Right ...

Bahamas cruise diverted to New England and Canada

Published Tue, 25 Feb 2025 14:21:46 GMT

(CNN) — Passengers on the cruise ship MSC Meraviglia didn’t get the balmy getaway they were expecting.The ship, scheduled to sail to the Bahamas this week, instead headed to New England and Canada “due to unseasonable and rapidly worsening weather that would have made it impossible to safely reach the southern Atlantic Ocean from New York City,” Field Sutton, director of communications, MSC Cruises USA, told CNN via email.The last-minute change left guests scrambling.Lakeya Allen of Bloomington, Illinois, told CNN she was notified of the itinerary change around 8:30 p.m. Friday, just hours before she planned to head to Chicago with her three children to catch an early flight to New York City.“Once I got the notification, I rushed to Walmart to try and get my family winter clothes. I grabbed whatever I could, but Walmart was closing early that night, so we had to just bring what we had packed. We still have shorts, bathing suits and sunscreen with us,” Allen said....

Christmas trees have gotten a lot less real in recent decades, in charts

Published Tue, 25 Feb 2025 14:21:46 GMT

(CNN) — Next to those stockings hung by the chimney with care, it appears more likely than ever that the trimmed tree will be, well, faux.The holiday tradition of setting up a Christmas tree has endured centuries. But this year, 77% of Americans displaying a Christmas tree say they’ll opt for an artificial one, according to a survey from the American Christmas Tree Association, an industry promotion group.The shift to fake trees has been a steady one. Imports of artificial trees have been climbing since the mid-90s, and spiked in 2021 despite Covid-19-related supply chain issues, according to the Census Bureau, which started tracking tree imports in 1994.What about the real trees?As artificial trees started looking more authentic and became more accepted in homes, the natural Christmas tree industry has been in a slow decline over 40-50 years, according to Marsha Gray, executive director of the Real Christmas Tree Board, an industry trade group.One recent pain point was the economic...

Viktor Orbán: The EU is blackmailing Hungary

Published Tue, 25 Feb 2025 14:21:46 GMT

Hungarian Prime Minister Viktor Orbán said Thursday the European Commission is blackmailing Hungary by withholding billions in frozen funds over rule-of-law concerns.Orbán said the blackmail is “a fact,” even admitted by the blackmailers themselves — members of the European Parliament.“In our view, Hungary fulfils all the qualities of the rule of law, and when the European Commission has specific needs, we implement everything from them, and we are also cooperative,” Orbán told reporters in Budapest during a press conference. “You cannot blame me for doing everything I can to promote Hungary’s interests in such a blackmailed situation.”Orbán’s government has been embroiled in a long-standing dispute with Brussels, which has frozen billions of EU funds intended for Hungary over concerns about human rights and the rule of law in the country.Last week, the European Commission unblocked €10.2 billion in frozen EU cohesion funds earmarked for Hungary.The comm...

Fire at apartment construction site in Dorchester

Published Tue, 25 Feb 2025 14:21:46 GMT

Boston firefighters battled a blaze in Dorchester Thursday morning.The fire at the building on Dorchester Avenue was located on the second and third floors; firefighters could be seen climbing ladders and balconies to reach the flames.The fire was under control by 8:30 a.m. Authorities said there were no injuries to report and that the Boston Fire Investigation Unit was on site to work to determine the cause of the blaze.https://twitter.com/BostonFire/status/1737830004237427106This is a developing story; stay with 7NEWS on-air and online for the latest updates.

Harvard President Claudine Gay to update her dissertation

Published Tue, 25 Feb 2025 14:21:46 GMT

Get Harvard President Claudine Gay rewrite … again.The embattled campus boss will need to make three corrections to her Ph.D. dissertation amid plagiarism allegations, according to multiple reports.The college newspaper, the Crimson, states the Harvard Corporation — the University’s highest governing body — is behind the corrections. Harvard did not respond to a Herald request for the same statement.The Crimson added that the Corporation revealed, in part: “The members … concluded that Gay’s inadequate citations, while regrettable, did not constitute research misconduct.”The Corporation has stood by GayThe Washington Free Beacon, a conservative website, reports Gay is facing more plagiarism woes — where up to 40 accusations of lifting others’ work are being made. “The document paints a picture of a pattern of misconduct more extensive than has been previously reported,” the website posted.As the Herald has reported that Harvard’s Corporation...

Statistics Canada reports retail sales rose 0.7% to $66.9 billion in October

Published Tue, 25 Feb 2025 14:21:46 GMT

OTTAWA — Statistics Canada says retail sales rose 0.7 per cent to $66.9 billion in October, helped by higher sales at new car dealers.The agency also says its early estimate for November suggested sales were relatively unchanged last month, but cautioned the figure would be revised.For October, Statistics Canada says sales were up in seven of the nine subsectors it tracks. The overall increase came as sales at motor vehicle and parts dealers gained 1.1 per cent in October, helped higher by a 1.3 per cent increase at new car dealers and a 2.0 per cent rise at other motor vehicle dealers.Core retail sales — which exclude gas stations and fuel vendors and motor vehicle and parts dealers — were up 1.2 per cent in October.Retail sales in volume terms rose 1.4 per cent in the month.This report by The Canadian Press was first published Dec. 21, 2023.The Canadian Press