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Top US and Chinese commerce officials express support for easier trade, but deep differences remain

Published Wed, 26 Feb 2025 10:57:55 GMT

BEIJING (AP) — Commerce Secretary Gina Raimondo and her Chinese counterpart expressed a desire to improve trade conditions on Monday, as Raimondo began a visit to Beijing aimed at warming chilly relations, but neither side appeared willing to make concessions on the other’s main demands.Raimondo joined American officials including Treasury Secretary Janet Yellen in July who have visited China in the past three months. They expressed optimism about improving communication but have announced no progress on technology, security, human rights and other disputes that have plunged relations to their lowest level in decades.For its part, Chinese leader Xi Jinping’s government wants to revive foreign investor interest in China as it tries to reverse a deepening economic slump.Beijing is ready to work together to “foster a more favorable policy environment for stronger cooperation” and “bolster bilateral trade and investment,” Commerce Minister Wang Wentao told Raimondo. Wang gave no details...

This Week in Business: Job openings, Chewy earnings, August jobs report

Published Wed, 26 Feb 2025 10:57:55 GMT

NOW HIRINGThe Labor Department on Tuesday issues its July job opening and labor turnover survey.Analysts expect July job openings to hold firm in July around 9.6 million for the third month in a row. Overall, last month’s report signaled a healthy economy, with employers seeking to hire more people. The number of workers quitting is slightly above pre-pandemic levels, suggesting that many Americans continue to find more desirable jobs. Job openings, in millions, by month:Feb.: 10March: 9.7April: 10.3May: 9.6June: 9.6July (est.): 9.6Source: FactSetCHEWY EARNINGSPet food delivery company Chewy reports its second-quarter financial results on Wednesday.For the sixth quarter in a row, Wall Street is projecting that Florida-based Chewy will report a loss, this time of 5 cents per share. In each of the previous five quarters, Chewy has surprised investors and analysts by posting adjusted profits. For last year’s second quarter, Wall Street expected Chewy to post a loss of 12 ce...

'It was horrifying': San Diego woman describes harrowing escape from Lahaina

Published Wed, 26 Feb 2025 10:57:55 GMT

SAN DIEGO -- Jeanne Stabile was woken up from a nap by strong winds the day the fire came roaring through Lahaina. “It was horrifying, terrifying, but I just had to go into survivor mode, it’s very vivid still," Stabile said. "In the kitchen, out of the kitchen window, I heard crackling noise opened the door and the apartment right across from me was fully engulfed in flames.” She quickly grabbed slippers and ran out of her apartment on Front Street."Put a chair by the fence, jumped over the fence and just started running towards the ocean down the middle of the street and the whole complex was up in flames," she said.The 72-year-old lost all of her belongings including her sons and daughters ashes.A police officer helped her get to an evacuation center, but the nightmare wasn’t over. It had to be evacuated as the fire approached. These San Diego-area hotels were ranked among top waterfront resorts in U.S. Evacuees were then moved to a hotel on a hill. Stabile watched Maui, her ho...

Stock market today: Asian shares mostly rise after Fed chief’s speech

Published Wed, 26 Feb 2025 10:57:55 GMT

TOKYO (AP) — Asian shares were mostly higher Monday, as investors were relieved by the head of the Federal Reserve indicating it will “proceed carefully” on interest rates. Japan’s benchmark Nikkei 225 added 1.8% in afternoon trading to 32,195.91. Australia’s S&P/ASX 200 gained 0.6% to 7,159.80, after data on Australian retail sales showed they rose a higher than expected 0.5%.South Korea’s Kospi rose 0.8% to 2,538.67. Hong Kong’s Hang Seng jumped 1.3% to 18,182.87, while the Shanghai Composite surged 1.3% to 3,104.27. “The muted reaction of treasury yields to the rhetoric from Jackson Hole shows that US Federal Reserve chairman Jerome Powell probably hit the right tone when it comes to keeping further policy tightening on the table but at the same time not rattling market confidence,” said Tim Waterer, chief market analyst at KCM Trade. Wall Street recorded its first winning week since July, with the S&P 500 climbing 29.40, or 0.7%, to 4,405.71. The ...

Foxconn’s Terry Gou will seek Taiwan presidency as an independent, but he’ll need signatures to run

Published Wed, 26 Feb 2025 10:57:55 GMT

TAIPEI, Taiwan (AP) — Terry Gou, who founded Apple supplier Foxconn, said Monday he will run as an independent candidate in Taiwan’s presidential election, ending months of speculation.At a news conference, Gou criticized the governing Democratic Progressive Party, saying its policies have “brought Taiwan into the risk of war” with China, which claims the self-ruled island democracy as part of its territory.“I will definitely not allow Taiwan to become the next Ukraine,” he added.He said Taiwan also needs new approaches on the economy and other matters at home. “Domestically, the national policy direction is filled with all sorts of mistakes. There’s no way to solve the difficulties of Taiwanese industry and people’s livelihoods,” he said.Gou’s Foxconn, formally known as Hon Hai Precision Industry Co., is a major supplier to Apple and has many factories in China that manufacture iPhones. Ideologically, Gou is most in line with the Kuomingtang, the opposition party that i...

An evacuation order finds few followers in northeast Ukraine despite Russia’s push to retake region

Published Wed, 26 Feb 2025 10:57:55 GMT

KUPIANSK, Ukraine (AP) — The thunder of mortar fire echoes in the distance as 5-year old David approaches his mother with an innocent request: Can he play with the baseball bat a relative gave him as a gift?Valeria Pototska rolls her eyes and tells her son no for the umpteenth time. It’s a toy for big kids, she scolds. The boy, who doesn’t so much as flinch when the weapons not far from their town in northeast Ukraine shoot off more rounds, pouts and peddles away on his bicycle.Other neighborhood children frolic in a playground in Kupiansk-Vuzlovyi, seemingly immune to the war unfolding 10 kilometers (6.2 miles) away. Ukrainian authorities this month ordered a mandatory evacuation of the village and three dozen other populated areas as war returned to Kharkiv province. So far, most residents have refused to go as the battle inches closer to their backyards. “It’s normal,” Pototska said of the soundtrack of weapons that punctuates the monotony of their daily lives. Olena Kanive...

Pleasant Chicago temps ahead, then possibly hot by the weekend; Hurricane Idalia takes aim at Florida; wildfires rage in Greece

Published Wed, 26 Feb 2025 10:57:55 GMT

A beautiful way to finish up the last weekend of August. Mostly sunny skies Sunday and Monday thanks to high pressure to our north bringing in the easterly winds. We might end up with a bit of Canadian wildfire smoke in our skies late Monday and into Tuesday with a weather system coming in from the northwest. Tuesday also has a slight chance of showers, but only about 20% of the area will likely see any raindrops. We look to return to sunshine and some summery temps by the end of the week. If you like some warmth, it's not a bad way to start out September and the Labor Day holiday weekend! Enjoy! WGN Weekly Climate report: In a month that's been pretty average temperature-wise, the past week had our hottest temperatures of 2023 in and around Chicago.August 24th had the first 100 degree reading at both Midway and O'Hare. It was the first triple digit temperature at O'Hare since July of 2012. The 100 degree reading at ORD tied the 1947 record for an August 24th high temp. It was ...

Driver ID'd in crash that killed 3 Uber riders, including 2 sisters, in South L.A. area

Published Wed, 26 Feb 2025 10:57:55 GMT

Police on Sunday identified the driver involved in a crash that killed three Uber passengers and left the driver and another passenger hospitalized in the unincorporated Westmont area over the weekend.The crash occurred around 5:30 a.m. Saturday morning at the intersection of Vermont Avenue and Century Boulevard. 3 Uber passengers dead; driver, other passenger in critical condition after violent crash in South L.A. Investigators said the suspect's car ran a red light when it struck the side of the ride-share vehicle.The suspect was identified as 31-year-old Gregory Black, who police say faces vehicular manslaughter charges. The occupants of the Uber vehicle included the 38-year-old female driver, a male passenger, and three female passengers who died as a result of the crash.The three victims were identified as Juvelyn Arroyo, 23, Veronica Amezola, 23, and Kimberly Izquierdo, 27. Police said two of the three were sisters. The driver and male passenger were expected to recover a...

Reigning Olympic champion Sunisa Lee overcomes health issue to compete at US Championships

Published Wed, 26 Feb 2025 10:57:55 GMT

SAN JOSE, Calif. (AP) — Strictly going by standings, reigning Olympic all-around gold medalist Sunisa Lee finished last at the U.S. Championships — yet ask anybody who knows her and they will view those results in a completely different light.“I’m beyond proud of her that she was able to come out here and show what she did,” Jordan Chiles said. “It is exciting to see her overcome everything that she has and come back out here stronger, because I think it does send a good message to the younger ones,” said Simone Biles, who won her eighth championship.The score sheet with Biles on top and Lee at the very bottom hardly told the story of Lee’s tumultuous year dealing with a kidney-related health issue and just how much it took to even get to San Jose this past week.In and out of the hospital because of the kidney issue, the 20-year-old Lee was forced to end her sophomore collegiate season early at Auburn. On April 3, she posted on social media: “My focus at this time is my ...

China won’t require COVID-19 testing for incoming travelers starting Wednesday

Published Wed, 26 Feb 2025 10:57:55 GMT

BEIJING (AP) — China will no longer require a negative COVID-19 test result from incoming travelers starting Wednesday.It is a milestone toward ending the virus restrictions imposed in China since early 2020.Foreign Ministry spokesperson Wang Wenbin announced the change at a briefing Monday.The Associated Press