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US economic growth accelerates to surprising 2.4% in 2nd quarter

Published Fri, 07 Feb 2025 14:23:33 GMT

WASHINGTON (AP) — The U.S. economy surprisingly accelerated to a 2.4% annual growth rate from April through June, showing continued resilience in the face of steadily higher interest rates resulting from the Federal Reserve’s 16-month-long fight to bring down inflation.Thursday’s estimate from the Commerce Department indicated that the gross domestic product — the economy’s total output of goods and services — picked up from the 2% growth rate in the January-March quarter. Last quarter's expansion was well above the 1.5% annual rate that economists had forecast.Driving the gain was a burst of business investment, which surged at a 5.7% annual pace, the fastest rate since late 2021. Companies plowed more money into factories and equipment. Increased spending by state and local governments also helped fuel growth in the April-June quarter.Consumer spending, though, slowed to a 1.6% annual rate, from a 4.2% pace in the first quarter of the year, a likely consequence of higher borrowing...

Love your credit card points? A bill that may change them is still on the table

Published Fri, 07 Feb 2025 14:23:33 GMT

(The Hill) -- A Senate bill that takes aims at credit card “swipe fees” won’t make it into annual defense policy legislation, but sponsors of the Credit Card Competition Act struck a deal with leadership to have it come to the floor for a vote by the end of the year, a source close to the talks told The Hill.“We were given assurances that the Credit Card Competition Act will be given a vote this Congress,” Sen. Roger Marshall (R-Kan.), who reintroduced the bill last month with Senate Majority Whip Dick Durbin (D-Ill.), confirmed in a statement. The bill would require financial institutions with assets of more than $100 billion to enable at least two network options for processing credit card transactions.At least one of those networks must be an option other than Visa or Mastercard, which control a combined 80 percent of the credit card network market in the U.S.  5 takeaways as the Fed reignites its inflation fight The National Retail Federation (NRF), one of the majo...

Rural Texas may lose out on billions in broadband infrastructure funding due to federal regulations

Published Fri, 07 Feb 2025 14:23:33 GMT

LUBBOCK, Texas (The Texas Tribune) -- When Texas was awarded $3.3 billion in federal money last month toward expanding broadband infrastructure across the state, government leaders and telecommunication companies celebrated the news.With more than 7 million residents disconnected from the rest of the World Wide Web, Texas’ broadband needs were no secret. With the federal funds, coupled with $1.5 billion from the state’s wallet, rural and underserved Texas communities finally saw a chance to catch up with technology in the rest of the country.One month later, as the state prepares to submit a five-year plan to federal agencies on broadband deployment, the finer details of who may qualify for federal money in the Broadband Equity, Access and Deployment Program has come into sharper focus. Bridging the ‘digital divide:’ Texas passes billions for broadband expansion as millions live unconnected And rural Texas advocates and owners of smaller telecommunication companies worry the ...

Street renamed in honor of Gloversville's Palace Diner

Published Fri, 07 Feb 2025 14:23:33 GMT

GLOVERSVILLE, N.Y. (NEWS10) -- Vine Street in Gloversville has been renamed Palace Way in honor of the Palace Diner. The change was approved during a Gloversville Common Council meeting on July 25. Get the latest news, weather, sports and entertainment delivered right to your inbox! The Palace Diner is celebrating its 100th anniversary on August 23. The diner first opened in 1923 in a Jerry O’Mahony Dining Car. The car was transported from New Jersey to Fonda to 62 South Main Street, where it has been ever since.There are only about 20 O’Mahony Dining Cars still in existence. The diner had gone through some ownership changes over the years and is currently owned by the Sena family. Bombers Burrito Bar in Albany appears to have closed Vine Street is a small one-way street that runs adjacent to the Palace. The diner is open Tuesday through Friday from 7 a.m. to noon and Saturday from 6 a.m. to noon. You can view the menu on The Palace Diner website.

Wappingers Falls man accused of attempting to rape minor

Published Fri, 07 Feb 2025 14:23:33 GMT

ALBANY, N.Y. (NEWS10) -- A Wappingers Falls man was arrested and is accused of first-degree attempted rape after trying to have sexual intercourse with a victim under 13, per New York State Police. Michael Fowler, 37, is currently held at the Dutchess County Jail. Get the latest news, weather, sports and entertainment delivered right to your inbox! Police did not mention what tipped off their investigation into Fowler. He's held at the Dutchess County Jail in lieu of $10,000 cash bail, a $15,000 bond, or a $100,000 partially secured bond.

St. Louis police search for man after child sex crime

Published Fri, 07 Feb 2025 14:23:33 GMT

ST. LOUIS - Investigators with the St. Louis Metropolitan Police Department are asking for the public's help in identifying and locating a man suspected of a child sex crime in a south city neighborhood.According to Sgt. Charles Wall, a police spokesman, the crime occurred July 23 in the St. Louis Hills neighborhood. Police did not provide a more specific hundred block. St. Louis police search for man after child sex crime Police say the victim, a 6-year-old boy, was riding his bicycle when a man walked up to the child, snatched him off the bike, and took the boy to a nearby vacant residence and sexually assaulted him.Anyone with information on the man's identity may contact detectives directly at 314-760-7360. If you wish to remain anonymous or are interested in a cash reward, call CrimeStoppers at 866-371-8477.

Chris Cuomo shares what questions he expects to be asked on new show, 'Crime In America'

Published Fri, 07 Feb 2025 14:23:33 GMT

ST. LOUIS - Crime continues to top the headlines in St. Louis and across the country.What is the solution to the rising problem? This Monday, tune in for an in depth special town hall entitled 'Crime in America.' St. Louis police search for man after child sex crime Chris Cuomo is the host, and he spoke with FOX 2's Margie Ellisor Thursday morning about what viewers can expect. Cuomo also shared what questions he expects to be asked from the live audience.

Crash on Colorado 66 east of Longmont leaves motorcyclist dead

Published Fri, 07 Feb 2025 14:23:33 GMT

A crash on Colorado Highway 66 east of Longmont overnight left a motorcyclist dead, authorities said Thursday morning.Mountain View Fire Rescue crews went to the scene of this two-vehicle crash near the intersection with Nesting Crane Road, agency officials said in a posting on Twitter. A Kia Soul and a motorcycle collided shortly before midnight.The other person involved in the crash sustained minor injuries.Crews responded to a fatal crash just after 10 tonight on Colorado Highway 66 at Nesting Crane Road, east of Longmont.Two vehicles were involved, a Kia Soul and a motorcycle. The injuries to the motorcyclist were severe & they died. One other person involved had minor injuries. pic.twitter.com/ANn9tFc9Xj— Mountain View Fire Rescue (@MVFireRescue) July 27, 2023

Denver weather: Hot morning, possible afternoon storms bringing brief rain

Published Fri, 07 Feb 2025 14:23:33 GMT

The heat wave baking the nation will hang over metro Denver on Thursday, ensuring a warm morning under sunny skies before clouds increase and bring possible afternoon storms, according to the National Weather Service.Any thunderstorms will help reduce heat, mostly after 2 p.m., though rain is expected to be brief, weather service forecasters said, estimating the likelihood of precipitation at 30%. Storms may kick out winds at speeds up to 50 miles per hour and heavy rain, diminishing before midnight.The high temperature in Denver on Thursday will be 93 degrees, decreasing to 63 degrees at night. On Friday, the high is expected to be 95 degrees.In western Colorado, the high temperatures around Grand Junction likely will exceed 100 degrees, forecasters said. Dry conditions were intensifying in southwestern Colorado. More storms are expected east of Denver and Colorado Springs on the eastern high plains.Scattered showers and storms expected again this afternoon and evening over the mou...

CySEC imposes a fine of one hundred thousand euro on BDSwiss Holding Ltd 

Published Fri, 07 Feb 2025 14:23:33 GMT

The Cyprus Securities and Exchange Commission (CySEC) today announced a decision to impose an administrative fine of one hundred thousand euro (€100,000) on the Cyprus Investment Firm BDSwiss Holding Ltd (the board decision).     CySEC reached the above decision after finding that BDSwiss Holding Ltd enabled offshore companies with which it was associated, to refer on the CIF's status, as a Cyprus Investment Firm, to attract clients to whom they offered investment services in CFDs. That was without requiring customers to pay initial margin protection and not giving the necessary risk warning, as it would have to, if the provider was the CIF, avoiding the application of the statutory requirement.