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The US economy expanded 4.9% in the third quarter, slightly weaker than previously estimated

Published Fri, 27 Dec 2024 08:47:52 GMT

Washington, DC (CNN) — US economic growth was slightly lower in the third quarter than previously reported, but still robust, underscoring the sheer strength of America’s economy during the summer.Gross domestic product, the broadest measure of economic output, expanded at an annualized 4.9% rate from July through September, the Commerce Department reported Thursday. That’s a slower pace of growth than the 5.2% reported in the second estimate.Growth in the third quarter was the strongest in nearly two years as Americans spent on live concerts, films, and goods. The US economy has slowed from the red-hot pace set earlier in the year, but both hiring and spending remain solid.The department’s final estimate factored in weaker consumer spending, inventory investment and exports, while revising government outlays and business investment higher. Consumer spending, which accounts for about two-thirds of economic output, was revised down to 3.1% from 3.6%.Investors are bullish that Fe...

Warner Bros. Discovery and Paramount CEOs discuss possible merger

Published Fri, 27 Dec 2024 08:47:52 GMT

(CNN) — Warner Bros. Discovery Chief Executive David Zaslav met on Tuesday with Paramount Global Chief Executive Bob Bakish, and they broached a potential merger between the two companies, two people familiar with the matter told CNN.A potential merger of the two media giants would create an entertainment and news juggernaut, encompassing Warner Bros. and Paramount studios as well as CBS, CNN, and other cable television assets.The discussion over lunch, which was first reported by Axios, took place at Paramount’s global headquarters in New York City’s Times Square.Spokespeople for Warner Bros. Discovery and Paramount declined to comment.Still, Warner Bros. Discovery cannot for the time being enter into a transaction with Paramount, or any other entity, until an arcane tax statute prohibiting Zaslav from additional acquisitions or mergers ends in April 2024.The date, which marks the two-year anniversary of WarnerMedia’s $43 billion merger with Discovery, was agreed upon dur...

Fire erupts at San Ysidro trailer park, prompting evacuations

Published Fri, 27 Dec 2024 08:47:52 GMT

SAN DIEGO — A fire erupted at a trailer park in San Ysidro Thursday morning, San Diego police confirmed to FOX 5.The fire was reported around 6:20 a.m. in the trailer park at 181 Willow Road. According to San Diego Fire-Rescue, the first units arrived at 6:28 a.m.At least one person is trapped inside one of trailers impacted by the fire, SDPD said. Evacuations were called for surrounding areas.SkyFOX, who was over the fire around 6:45 a.m., caught a large plume of smoke coming from the fire that can be seen from the Interstate 5.It is unknown at this time what caused the fire.This is a developing story. Check back for updates.

Man arrested after dumpster fire spreads to Burlington restaurant, suspect charged in other fire investigations

Published Fri, 27 Dec 2024 08:47:52 GMT

A 69-year-old man is facing arson charges in connection to four dumpster fires in Burlington, including one on Thursday that caused damage to a restaurant.Emergency crews were called to a Tim Hortons in a plaza at Brant Street and Upper Middle around 1:30 a.m. on Thursday for a fire.When firefighters arrived, they found several garbage bins ablaze.“One of these fires extended into the Tim Hortons restaurant, causing significant damage,” Burlington Fire told CityNews.The fire has since been extinguished.The Ontario Fire Marshal’s office has been notified.According to Halton Regional Police Service, the fire was deemed suspicious, and the suspect, who had no fixed address, was arrested near the scene.“He has been charged with arson in relation to that fire, and further investigation has led to him also being charged with arson for three similar dumpster fires that took place on the morning of [Dec. 13] in Burlington,” police told CityNews.No injuries were...

Nigeria slashes transport fees during the holidays to ease some of the pain of austerity measures

Published Fri, 27 Dec 2024 08:47:52 GMT

ABUJA, Nigeria (AP) — Nigeria’s leader slashed the fees during the holiday season for several public transport routes in half and offered free train rides starting Thursday, hoping to ease — at least temporarily — some of the economic hardship caused by his government’s austerity measures.Elected in May to lead Africa’s most populous country, President Bola Tinubu has introduced several economic changes, including removing decadeslong gas subsidies. The impact of the measures has worsened the cost of living for millions already struggling with record inflation.Nigeria is a nation of more than 210 million people and also the continent’s largest economy but it suffers from widespread poverty, violent crime and religious extremism. The population is almost evenly divided between Christians, dominant in the south, and Muslims in the north, and Christmas is a national holiday. Information Minister Dele Alake told reporters late Wednesday that the government’s decision on the ...

Federal government to announce $471 million for Toronto in housing deal

Published Fri, 27 Dec 2024 08:47:52 GMT

TORONTO — The federal government is set to announce nearly half a billion dollar in housing funding for the City of Toronto, according to a senior government source. The source, who spoke on the condition of anonymity to discuss matters not yet made public, confirms a report in the Globe and Mail that Toronto is slated to receive $471 million from the Housing Accelerator Fund.The $4-billion fund is a federal initiative to encourage municipalities to make changes to bylaws and regulations that would spur more housing construction, in exchange for more money. Some of the changes Ottawa has pushed for include denser zoning and faster issuance of permits. Prime Minister Justin Trudeau will be in Toronto this morning to make the announcement alongside Housing Minister Sean Fraser, Toronto Mayor Olivia Chow and others. Including the announcement today, Ottawa has reached deals with 16 municipalities across the country.This report by The Canadian Press was first published Dec. 21, 2023.The...

Saturday night’s Bills-Chargers game on Peacock will not have commercials during fourth quarter

Published Fri, 27 Dec 2024 08:47:52 GMT

Saturday night’s game between the Buffalo Bills and Los Angeles Chargers already carried significance as the first NFL game to be exclusively streamed on Peacock.The matchup will also feature another milestone as NBC and the NFL announced Thursday morning that the fourth quarter will be commercial free for the first time.NBCUniversal says there will be a 40% reduction in the standard ad time for an NFL game which should result in at least 12 additional minutes of game-related content.Rob Hyland, the coordinating producer for NBC’s “Sunday Night Football,” said there have been discussions about this game since June about how to make it unique and distinct from a regular NBC broadcast.“The limited stoppages are exciting for me as someone that wants to tell the story of the game and have the time to do it,” he said.During one of the two breaks of 2 minutes, 20 seconds, in the fourth quarter, the announce team of Mike Tirico, Cris Collinsworth and Melissa Stark will delve mo...

Ukraine lawmakers vote to legalize medical marijuana and help ease stress from the war with Russia

Published Fri, 27 Dec 2024 08:47:52 GMT

KYIV, Ukraine (AP) — Ukraine’s parliament voted Tuesday to legalize medical marijuana, after the war with Russia left thousands of people with post-traumatic stress disorder that many believe could be eased by the drug.The new law, which will come into effect in six months’ time and which also allows cannabis to be used for scientific and industrial ends, passed by 248 votes in the 401-seat parliament in Kyiv. A full breakdown of the vote wasn’t immediately available. The law was proposed by Prime Minister Denys Smyhal.The possible legalization of medical marijuana has long been debated in Ukraine. Many people argued in favor of the benefits the treatment can bring, while others feared legalizing medical marijuana would lead to an influx of drugs on the streets of Ukrainian cities.The debate gained new momentum after Russia’s full-scale invasion of Ukraine on Feb. 24, 2022. The Kremlin’s forces have repeatedly used powerful missiles to blast civilian targets across the country...

Trump transformed the Supreme Court. Now the justices could decide his political and legal future

Published Fri, 27 Dec 2024 08:47:52 GMT

WASHINGTON (AP) — Donald Trump touts his transformation of the U.S. Supreme Court as one of his presidency’s greatest accomplishments. Now his legal and political future may lie in the hands of the court he pushed to the right. With three Trump-appointed justices leading a conservative majority, the court is being thrust into the middle of two cases carrying enormous political implications just weeks before the first votes in the Iowa caucuses. The outcomes of the legal fights could dictate whether the Republican presidential primary front-runner stands trial over his efforts to overturn the 2020 election and whether he has a shot to retake to the White House next November. “The Supreme Court now is really in a sticky wicket, of historical proportions, of constitutional dimensions, to a degree that I don’t think we’ve ever really seen before,” said Steve Vladeck, a law professor at the University of Texas at Austin. Trump’s lawyers plan to ask the Supreme Court to overtu...

Strong winds from Storm Pia disrupt holiday travel in the UK

Published Fri, 27 Dec 2024 08:47:52 GMT

LONDON (AP) — High winds from Storm Pia disrupted holiday travel Thursday in northern areas of the U.K. as flights were grounded, train service was suspended or slowed, and ferries stopped running to islands off Scotland’s west coast.A gust of 115 mph (185 kilometers per hour) was recorded on Cairngorm Summit in the Scottish Highlands. Wind warnings for up to 80 mph (128 kph) were in place in northern Scotland and up to 55 mph (88 kph) in northern England and Northern Ireland. There was also an ice and snow warning for the Shetland Islands, where schools were closed.Gusts knocked down trees that blocked roads and struck power lines, causing blackouts to 40,000 households in northeast England, energy company Northern Powergrid said. High winds toppled a truck on a highway in Manchester and tore part of the the roof off an apartment building in Sheffield.The storm hit amid high holiday travel that is expected to peak Friday.British Airways grounded two dozen flights, British broadcast...