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Turkey’s central bank unleashes a big interest rate hike in another sign of an economic shift

Published Mon, 23 Dec 2024 18:06:24 GMT

ANKARA, Turkey (AP) — Turkey’s central bank raised its key interest rate by an aggressive 7.5 percentage points on Thursday, a larger-than-expected boost that offers a new sign of a return to more traditional economic policies under President Recep Tayyip Erdogan.The bank hiked its policy rate to 25% as it continues to backtrack from a rate-cutting course set by Erdogan, which has been blamed for inflaming a cost-of-living crisis. Many households have been left struggling to afford rent and basic goods as inflation has surged.The increase “will go a long way towards reassuring investors that the shift back to policy orthodoxy is on track,” London-based Capital Economics research firm wrote in an analyst note.It called the move a surprise as most analysts expected a much smaller bump in borrowing costs.“As far as Turkey’s macroeconomic outlook is concerned this could be a game-changer,” the firm said.Erdogan has long argued that lowering interest rates helps fight inflation, a theory...

Breakthrough cryofreeze technique means brighter future for coral reefs. Could it also preserve humans?

Published Mon, 23 Dec 2024 18:06:24 GMT

Marine biology researchers have achieved a breakthrough in the fight to save the world’s coral reefs from climate change annihilation. This comes as water temperatures recorded off the coast of Florida reached triple digits this summer, and scientists continue to sound the alarm about the effects of climate change on our ocean ecosystems.This breakthrough, which involves cryogenics, is one researchers said might also be the next step in human evolution — by preserving or extending human life.“This has been going on for many, many years,” said Mary Hagedorn, senior research scientist with The Smithsonian National Zoo and Conservation Biology Institute.Hagedorn, who also works with the Hawaii Institute of Marine Biology in Oahu, co-authored a paper that was published Wednesday, outlining the first successful technique cryopreserving and reviving entire coral fragments.She told WTOP corals have been in decline for a while, and “have been facing many threats related to...

FIFA opens case against Spanish soccer official who kissed a player on the lips at Women’s World Cup

Published Mon, 23 Dec 2024 18:06:24 GMT

GENEVA (AP) — FIFA opened a disciplinary case Thursday against the Spanish soccer official who kissed a player on the lips while celebrating the team’s victory in the Women’s World Cup final.The governing body’s disciplinary committee will weigh if Spanish soccer federation president Luis Rubiales violated its code relating to “the basic rules of decent conduct” and “behaving in a way that brings the sport of football and/or FIFA into disrepute.”Rubiales kissed player Jenni Hermoso on the lips during the trophy and medal ceremony on Sunday after Spain’s 1-0 victory over England in Sydney, Australia.Minutes earlier, Rubiales grabbed his crotch as a victory gesture in the exclusive section of seats with Queen Letizia of Spain and 16-year-old Princess Sofía standing nearby.Hermoso has said she did not like the kiss and the national players’ union representing her — which the 46-year-old Rubiales once led — called Wednesday for his conduct to not go unpunished.FIFA res...

Weirdest world records broken in Colorado

Published Mon, 23 Dec 2024 18:06:24 GMT

DENVER (KDVR) — Many world records have been broken in Colorado, like the largest Venus flytrap or the fastest downhill skateboarder hitting over 80 mph. FOX31 looked through the World Record Academy's Colorado-based records, and there's more than you'd think. Here are five of the weirdest world records that were all achieved within a few hours of Denver: World's largest ice cream coneIn Englewood, Muddy Bites broke the world record for the largest ice cream cone in May. The ice cream was 11 feet tall, which beat the previous world record by almost 11 inches. Outdoor world records you can visit in Colorado It amounted to 100 pounds of waffle to make up the cone, 300 pounds of chocolate and over 1,000 pounds of vanilla ice cream. World's largest public key collectionThe Seven Keys Lodge in Estes Park is a historic hotel that holds 30,000 keys. The keys come from Westminster Abbey, Mozart's wine cellar, the Pentagon and Frankenstein's castle. There's at least one key from ever...

Experts commemorate 31st anniversary of Hurricane Andrew, reflect on storm trends at FIU

Published Mon, 23 Dec 2024 18:06:24 GMT

It was a day that forever altered the course of South Florida’s history. Thursday marks the 31st anniversary of Hurricane Andrew’s devastating impact, a catastrophic event etched into the memory of every resident who experienced its wrath. In remembrance of the tragic storm, experts from Florida International University (FIU) are convening to delve into hurricane trends, reflecting on the lessons learned from that fateful day.In 1992, Hurricane Andrew struck South Florida with a ferocity that few could have imagined. Classified as a Category 5 storm, Andrew’s sheer power left a trail of destruction in its wake. The storm’s approach was marked by frantic preparations as communities braced for the worst. On August 24, 1992, those fears became a harsh reality as the hurricane made landfall, leaving a devastating mark that would be felt for years to come.The impact was devastating, with 65 lives tragically lost in the storm’s wake. The aftermath was equally...

Zelenskyy on Prigozhin’s death: ‘Everyone understands who is involved’

Published Mon, 23 Dec 2024 18:06:24 GMT

Ukrainian President Volodymyr Zelenskyy reacted Thursday to the death of Wagner Group leader Yevgeny Prigozhin, denying Kyiv had any involvement and pointing the finger at Russian authorities.“We have nothing to do with it. Everyone understands who is involved,” Zelenskyy told reporters in Kyiv, reported Interfax-Ukraine.The warlord-turned-mutineer died Wednesday evening, after his private jet crashed in flames on an internal flight from Moscow to St. Petersburg. Russia’s aviation regulator named Prigozhin as one of 10 people killed in the crash, along with Dmitry Utkin, a central Wagner figure and the group’s alleged founder.Prigozhin’s death comes exactly two months after he led an aborted uprising against the Kremlin in June, which prompted speculation that Russian President Vladimir Putin orchestrated the crash.The crash sparked apoplexy from Prigozhin’s allies — who expressed their grief with candlelit vigils and distraught messages; and jubilation...

MBTA to shut down Red Line service on Ashmont Branch and Mattapan Line for two weeks in October

Published Mon, 23 Dec 2024 18:06:24 GMT

Shuttle buses will replace rail service on the Red Line’s Ashmont Branch and Mattapan Line for two weeks in October so crews can “expedite critical track work,” according to the MBTA.In an announcement on Thursday, the transportation authority said that for 16 days, between Oct. 14 and Oct. 29, the Ashmont Branch between JFK/UMass and Ashmont stations and the Mattapan Line between Ashmont and Mattapan Stations will experience “full-access closures” to allow for critical track work to be performed.“During this closure, the MBTA will provide free, accessible shuttle bus service for riders on the Ashmont Branch and the Mattapan Line,” the MBTA said in a news release.Over the course of the two week shutdown, crews are slated to perform work that includes the replacement of rails, ties, and ballasts, which officials say will improve reliability and reduce maintenance needs. The MBTA said that the work will allow for 28 speed restrictions in the a...

New gas pipeline rules floated following 2018 blasts in Massachusetts

Published Mon, 23 Dec 2024 18:06:24 GMT

BOSTON (AP) — Federal regulators are proposing a series of rules changes aimed at toughening safety requirements for millions of miles of gas distribution pipelines nationwide following a string of gas explosions in Massachusetts in 2018.These proposed changes are designed to improve safety and ease risk through the improvement of emergency response plans, integrity management plans, operation manuals and other steps, according to the U.S. Department of Transportation’s Pipeline and Hazardous Materials Safety Administration.This proposal was prompted by the series of blasts that ripped though parts of the Merrimack Valley region of Massachusetts.The explosions and fires in Lawrence, Andover and North Andover in September 2018 left a teenager dead, about two dozen injured and destroyed or damaged more than 130 properties. Thousands of residents and businesses were also left without natural gas service for heat and hot water for months in some cases.Leonel Rondon, ...

Sandwich chain Subway will be sold to Dunkin’, Arby’s owner Roark Capital

Published Mon, 23 Dec 2024 18:06:24 GMT

Sandwich chain Subway said Thursday it will be sold to the private equity firm Roark Capital.Terms of the deal weren’t disclosed. Earlier this week, The Wall Street Journal reported that Roark was offering around $9.6 billion for Subway, which is privately owned.Subway CEO John Chidsey said the deal reflects Subway’s long-term growth potential and the value of the brand. Subway plans to continue to modernize restaurants and expand internationally under Roark’s ownership.Roark is a private equity firm with $37 billion in assets under management. It specializes in franchised businesses, and owns multiple restaurant chains, including Arby’s, Dunkin’ and Buffalo Wild Wings.Subway, which has dual headquarters in Miami and Connecticut, was founded in 1965 and is still owned by its founding families. It’s now one of the world’s largest restaurant chains, with 37,000 outlets in more than 100 countries.But in the U.S., it has been losing market share in recent years to fast-growing rivals li...

Trump replaces top Georgia lawyer ahead of surrender

Published Mon, 23 Dec 2024 18:06:24 GMT

(CNN) — Former President Donald Trump has replaced his top Georgia lawyer ahead of his surrender Thursday evening, sources tell CNN.Drew Findling, the lawyer who has led Trump’s defense in Georgia, is being replaced by Steven Sadow, an Atlanta-based attorney whose website profile describes him as a “special counsel for white collar and high-profile defense.”A Trump source indicated that this was not about Findling’s performance, while another familiar with Sadow called him the “best criminal defense attorney in Georgia.” Trump’s other Georgia attorney, Jennifer Little, is expected to stay on the legal team and work with Sadow.“I have been retained to represent President Trump in the Fulton County, Georgia case. The president should never have been indicted. He is innocent of all the charges brought against him,” Sadow said in a statement. “We look forward to the case being dismissed or, if necessary, an unbiased, open minded jury finding the president not guilty. Prosecuti...