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A ‘soft landing’ or a recession? How each one might affect America’s households and businesses

Published Mon, 23 Dec 2024 14:49:18 GMT

WASHINGTON (AP) — The solid hiring revealed in Friday’s jobs report for November, along with a raft of other recent economic data, is boosting hopes that the U.S. economy will achieve a “soft landing” next year rather than a widely feared recession. A so-called soft landing would occur if the economy slowed enough to bring inflation down to the Federal Reserve’s 2% target, without tumbling into a deep recession.It’s a tricky task. The Fed has sharply raised its key interest rate to try to moderate borrowing and spending and tame inflation. The risk is that the Fed would miscalculate and keep its benchmark rate — which affects many consumer and business loans — too high for too long and end up causing a recession. In the past, the Fed’s policymakers have often sought to engineer soft landings after a spurt of economic growth ignited inflation or threatened to do so. Most frequently, the Fed has failed.What would a soft landing look like, compared with a potent...

Oshawa man charged in suspected hate-motivated incident against woman

Published Mon, 23 Dec 2024 14:49:18 GMT

A 54-year-old Oshawa man is facing charges after threatening a woman in what police say is a suspected hate-motivated incident.Investigators say a man approached a woman wearing a hijab in the area of Danforth Avenue and Victoria Park Avenue at around 6:15 a.m. on Dec. 1 and made derogatory remarks about her religion.The man then allegedly uttered a death threat before fleeing the scene.The woman was not physically injured in the incident.Several days later members of the hate crime unit have arrested George Murray and charged him with uttering death threats. He’s scheduled to appear in court on Jan. 15, 2024.“This investigation is being treated as a suspected hate-motivated offence,” police said in a statement on Friday.Police say if a person is charged and convicted of an offence which has been motivated by bias, prejudice or hate, the judge in the case will take into consideration hate as an aggravating factor when imposing a sentence.

FTC opens inquiry of Chevron-Hess merger, marking second review this week of major oil industry deal

Published Mon, 23 Dec 2024 14:49:18 GMT

WASHINGTON (AP) — The Federal Trade Commission is investigating Chevron’s acquisition of Hess oil company, the second inquiry the independent agency has opened this week of a major oil industry merger.Chevron and Hess said in separate filings that the FTC is seeking additional information and documentary materials related to Chevron’s proposed $53 billion purchase of Hess, announced in October.The statements Friday follow an announcement earlier this week that the FTC is reviewing ExxonMobil’s proposed $60 billion acquisition of Pioneer Natural Resources. Such requests for information are steps the agency takes when reviewing whether a merger could be anticompetitive under U.S. law. If completed, the Exxon and Chevron deals would be among the largest mergers in the energy industry in two decades.The inquiries come after Senate Majority Leader Chuck Schumer and 22 other Democratic senators urged the FTC to investigate the two deals. Schumer said Friday the Chevron-H...

CSIS boss apologizes for rape claim response, revamps harassment plan

Published Mon, 23 Dec 2024 14:49:18 GMT

Canada’s spy chief has apologized to staff over his response to rape and bullying allegations in the agency’s British Columbia office.In a town hall this week, David Vigneault told Canadian Security Intelligence Service staff about new anti-harassment measures in what he called an “extraordinary moment.”He says the officer accused in the complaints, made public in an investigation by The Canadian Press last week, is no longer employed by the agency, as of Monday.Vigneault says he has ordered the creation of an ombudsperson’s position to handle workplace problems “without fear or reprisal.”He says the agency will also release annual public reports on harassment and wrongdoing in the agency.The moves come after The Canadian Press reported on what officers called a “toxic workplace” in the agency’s B.C. surveillance unit.One officer said she was raped nine times by a senior colleague while in surveillance vehicles on missions ...

New proposal to lower prescription drug costs

Published Mon, 23 Dec 2024 14:49:18 GMT

WASHINGTON (NEXSTAR) - The Biden administration plans to take on a new strategy to try and lower the price of prescription drugs.Health and Human Services Secretary Xavier Becerra says the proposal would allow the federal government to open the door to cheaper generic drugs if major drug makers refuse to lower prices."It’s a fancy term called march in rights. When taxpayers have helped fund the invention of a particular medicine and therefore it's on the market because taxpayers make it available, we have the right to march in and say this isn't correct this is not fair to the American taxpayer,” Becerra said.Becerra would not name any specific drugs or drug makers the administration plans to target.Opponents are already pushing back.A spokesperson with PhRMA which represents the country's leading pharmaceutical companies argues the march in rule is being misused and will stifle the creation of future lifesaving drugs.Statement attributable to Megan Van Etten, PhRMA spokesperson:“Th...

UPenn loses $100 million donation after antisemitism hearing

Published Mon, 23 Dec 2024 14:49:18 GMT

(The Hill) – The University of Pennsylvania (UPenn) lost a major $100 million donation on Thursday amid fallout from UPenn President Liz Magill's comments at a recent House hearing on campus antisemitism. In a letter to UPenn Senior Vice President Wendy White, lawyers for Ross Stevens, the founder and CEO of Stone Ridge Asset Management, said Stevens would be withdrawing his gift, now valued at about $100 million, that was expected to fund the Stevens Center for Innovation in Finance. Lawyers for Stevens allege UPenn violated the terms of Stone Ridge's limited partner agreement with the school."Mr. Stevens and Stone Ridge are appalled by the University's stance on antisemitism on campus," his lawyers wrote. "Its permissive approach to hate speech calling for violence against Jews and laissez faire attitude toward harassment and discrimination against Jewish students would violate any policies or rules that prohibit harassment and discrimination based on religion, including those of ...

RESULTS: This is the best KXAN viewer photo of November 2023, as voted by you

Published Mon, 23 Dec 2024 14:49:18 GMT

Editor’s Note: The video above shows the latest forecast from the KXAN First Warning Weather team.AUSTIN (KXAN) — Here at KXAN, we get hundreds of photos sent to us each month by viewers just like you.We want to showcase some of the best pictures we receive, so we narrowed them down to our 10 favorites for the month.The winning photo will move on to represent November in the best viewer photos of the year once 2023 is said and done.#10. City Sunset (1.6% of votes)Austin, Nov. 6. Courtesy Saleem Assaf.Sunset over the city of Austin on Nov. 6, 2023. (Courtesy Saleem Assaf)#9. Honoring a Hero (3.0% of votes)Austin, Nov. 17. Courtesy Helen Elliott.Procession for Austin Police Officer Jorge Pastore travels through the city on Nov. 17, 2023. (Courtesy Helen Elliott)#8. Lunar Halo (4.1% of votes)Manor, Nov. 29. Courtesy Lizette Daywood.A lunar halo seen over Manor on Nov. 29, 2023. (Courtesy Lizette Daywood)#7. River Reflection (5.0% of votes)Austin, Nov. 23. Courtesy John Graff....

Austin city manager sits down to talk leadership changes, new work from home policy

Published Mon, 23 Dec 2024 14:49:18 GMT

AUSTIN (KXAN) — After significant pushback from City of Austin employees earlier this year, Interim City Manager Jesús Garza recently announced a new work-from-home policy that he believes is a compromise. KXAN sat down with Garza to talk about the process for getting to that policy, and about recent high-level staffing changes at the City of Austin. Work-from-home policyCity employees will be allowed to split their time 50-50, in the office and at home. Previously, Garza was asking employees in non-management positions to return to the office at least three days a week, which garnered pushback. "I think it's fair. It's basically...a little different than where I started but it's one where I think most of the workforce will accept it," Garza said. Employees in management roles will still be required to show up to the office full-time. City of Austin rolls out new telework policy, helping city meet climate goals The city manager also said not everyone can work from home on the sam...

Man shot by St. Paul officer during exchange of gunfire has died, BCA says

Published Mon, 23 Dec 2024 14:49:18 GMT

The man shot by a St. Paul police officer during an exchange of gunfire died early Friday, the Minnesota Bureau of Criminal Apprehension announced.Brandon Daleshaun Keys, 24, of Maplewood, was taken to Regions Hospital after the Thursday afternoon shooting.Officer Michael Tschida was shot in the leg during the incident. He was treated at Regions and released from the hospital Thursday.St. Paul police responded to a report of a violation of an order for protection, the BCA said of its preliminary investigation. A woman reported she was driving with a man in her passenger seat when Keys pulled behind her and starting hitting her vehicle with his. She also told police that Keys had a gun.The woman stopped at Cretin and Marshall avenues, and Keys got out of his car and approached the woman’s vehicle, the BCA said.Tschida arrived, exited his squad and ordered Keys to get on the ground.“The two exchanged gunfire, during which Keys was struck in the head and Tschida was struck ...

Vikings linebacker Ivan Pace Jr. sure doesn’t play like an undrafted rookie

Published Mon, 23 Dec 2024 14:49:18 GMT

Vikings linebacker Ivan Pace Jr. started to turn heads as soon as he stepped foot onto the practice field at TCO Performance Center in the spring. Never mind that he was an undrafted rookie out of the University of Cincinnati at the time. The 22-year-old was hellbent on proving he belonged with the Vikings.After impressing enough people to make the team out of training camp, Pace continued to stack days on top of each other, eventually carving out a role for himself on defense. Meanwhile, head coach Kevin O’Connell remembers waiting for Pace to hit that rookie wall“You’re just kind of waiting for, ‘When’s that drop-off going to be? When are those times where he’s going to look like a rookie?’ ” O’Connell said. “It just never really happened.”That’s good news for the Vikings considering Pace has stepped into an important role on defense in the absence of injured veteran linebacker Jordan Hicks.Now every time Pace...