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Eurozone economy posts meager growth in first quarter

Published Fri, 27 Dec 2024 08:06:32 GMT

FRANKFURT — The eurozone economy expanded only slightly in the first quarter of the year, after stagnating at the end of last year, preliminary data released by Eurostat showed Friday.According to the release, seasonally adjusted GDP grew by 0.1 percent, disappointing analysts’ expectations for 0.2 percent growth. Compared to a year earlier, the economy expanded by 1.3 percent.In the wider EU, economic activity grew by 0.3 percent on the quarter and 1.3 percent on the year.Among the largest member countries for which data are available, Portugal (+1.6 percent) recorded the highest increase compared to the previous quarter, followed by Spain, Italy and Latvia (all +0.5 percent). Declines were recorded in Ireland (-2.7 percent) as well as in Austria (-0.3 percent).The year-on-year growth rates were positive for all countries except Germany, which contracted by 0.1 percent.According to Oxford Economics economist Rory Fennessy, there is no reason to tighten the seatbelts as growth...

UK annoys Brexiteers as it dampens bonfire of EU laws

Published Fri, 27 Dec 2024 08:06:32 GMT

LONDON — The U.K. government has poured cold water on long-touted plans for a bonfire of laws inherited from the EU after Brexit — and some Conservative Euroskeptics aren’t happy.During a briefing Monday on the Retained EU Law Bill, Business Secretary Kemi Badenoch told senior Tory Brexiteers that by December 31 the government will only bin 800 — or one in four — of the estimated 3,200 pieces of EU legislation which were automatically added to the U.K. statute book after Brexit.The bill introduces a controversial “sunset clause” that will automatically scrub EU retained laws that have not been changed or repealed by the end of this year. Advocates see that cull as a key Brexit dividend as the U.K. goes its own way, but the policy has been criticized by business groups for creating regulatory uncertainty.Badenoch told the group of MPs that her officials had concluded it is not possible to remove thousands of laws, according to people in the room who confirmed a Daily Telegraph story....

Jalen Suggs bounces back, delivers strong finish to second season with Magic

Published Fri, 27 Dec 2024 08:06:32 GMT

For Jalen Suggs, the first half of the Orlando Magic’s 2022-23 season followed a similar pattern to his short NBA career up to that point.Suggs, the No. 5 pick in the 2021 draft, struggled with injuries to start the season just like he did as a rookie when he played in 48 games.He appeared in 14 of the Magic’s first 38 games this past season, sitting multiple stretches because of right ankle ailments — the same ankle that sidelined him for 13 of the final 18 games of 2021-22 and required surgery to address a stress fracture.But then Suggs’ fortunes changed.He got healthy and mostly stayed that way during the second half of the season — which coincided with Suggs’ best stretch of play.“It was big time,” he said. “Because before, I was feeling really confident, had a good rhythm and flow going. That’s the hardest part about the injuries. It’s not coming back, it’s not the toll it takes on your body. It’s jus...

What Lamar Jackson’s extension means for the Ravens, Todd Monken, Eric DeCosta and more

Published Fri, 27 Dec 2024 08:06:32 GMT

Ravens quarterback Lamar Jackson agreed to a lucrative extension and Boston College wide receiver Zay Flowers realized his dream of becoming an NFL player Thursday, but neither had as good of a day as their future play caller: first-year offensive coordinator Todd Monken.The Ravens invested heavily in their offense Thursday, using their only pick of the first two rounds on a highly touted receiver and, of course, locking up their franchise quarterback. Jackson agreed to a five-year deal with the Ravens reportedly worth $260 million, including $185 million guaranteed. The per-year average of $52 million makes him the highest-paid NFL player in terms of annual salary.“Todd Monken had a good day today,” Ravens coach John Harbaugh said after the first round of Thursday’s NFL draft. “We’ve really upgraded our offense.”As recently as a couple of months ago, the Ravens’ offense looked thin. It was unknown if Jackson would remain with the team after...

Three takeaways from the Ravens’ big day, including Lamar Jackson’s deal and drafting WR Zay Flowers

Published Fri, 27 Dec 2024 08:06:32 GMT

On the same day they signed quarterback Lamar Jackson to a record-setting extension, the Ravens also made a draft pick: wide receiver Zay Flowers. Never have we seen the team’s first-round pick so completely overshadowed, but here are three takeaways from the team’s big day.The Ravens continued their recent theme, adding another exciting toy for their franchise quarterback.First, Odell Beckham Jr., now Flowers, one of the most gushed-over playmakers in this draft class.Jackson did not wait long to celebrate. “I’m smelling more good news dropping soon,” he tweeted just before the Ravens picked at No. 22 overall. “Well it happened,” he added when their pick was announced.The Ravens had their choice of two very good cornerbacks, long-armed Joey Porter Jr. of Penn State and ultra-athletic Baltimore native Deonte Banks. General manager Eric DeCosta said they also had opportunities to move down and add more picks. Instead, they added to a position...

Notable celebrity and newsmaker deaths of 2023

Published Fri, 27 Dec 2024 08:06:32 GMT

A look at the notable celebrities and newsmakers who died in 2023.Jerry SpringerJerry Springer, the onetime mayor and news anchor whose namesake TV show featured a three-ring circus of dysfunctional guests willing to bare all — sometimes literally — as they brawled and hurled obscenities before a raucous audience, died April 27, 2023, at 79. (Photo by Cindy Ord/Getty Images)Harry BelafonteAward-winning actor, singer and activist Harry Belafonte, a persistent and outspoken voice for justice and racial equality in the United States and around the world, died April 25, 2023, at age 96, his representative confirmed. (Arthur Pollock/Boston Herald)Len GoodmanLen Goodman, a long-serving judge on “Dancing with the Stars” and “Strictly Come Dancing” who helped revive interest in ballroom dancing on both sides of the Atlantic, died on April 22, 2023, his agent said. He was 78. (Photo by Simon Burchell/Getty Images)Barry Humphries, Dame EdnaTony Award-winning comedian Barry Humphries, internat...

Europe’s economy barely grows as inflation pinches consumers

Published Fri, 27 Dec 2024 08:06:32 GMT

FRANKFURT, Germany (AP) — The European economy scraped out meager growth of 0.1% in the first three months of the year, barely gaining momentum after dodging a winter recession as challenges persist from inflation that corrodes people’s willingness to spend.Friday’s less-than-stellar figure follows disappointing growth estimates from the U.S. a day earlier that kept alive fears of a looming recession in the world’s largest economy.The 20 countries that use the euro currency picked up speed in the first quarter after zero growth in the last three months of 2022. The eurozone avoided a winter recession thanks to mild weather that alleviated pressure on natural gas supplies. European governments and utilities also scrambled to line up additional sources to heat homes, generate electricity and power factories after Russia cut off most supply to the continent over its war against Ukraine.Industrial activity has picked up, and China’s reopening from COVID-19 restrictions boosted the outlo...

BBC chief quits amid furor over role in Boris Johnson loan

Published Fri, 27 Dec 2024 08:06:32 GMT

LONDON (AP) — The chairman of the BBC quit Friday after a report found he failed to disclose a potential conflict of interest over his role in arranging a 2021 loan for Boris Johnson, who was the U.K.’s prime minister at the time.The publicly funded national broadcaster has been under political pressure after it was revealed that Richard Sharp helped arrange the line of credit weeks before he was appointed to the BBC post on the government’s recommendation.The 800,000 pound ($1 million) line of credit came from wealthy Canadian businessman Sam Blyth, who was introduced to Johnson by Sharp, a Conservative Party donor. Johnson was the party’s leader as well as British prime minister.Sharp said he was quitting to “prioritize the interests of the BBC” after making an “inadvertent” breach of the rules.“I feel that this matter may well be a distraction from the corporation’s good work were I to remain in post until the end of my term,” he said.Sharp said he would remain ...

Utah judge to consider challenge to new abortion clinic ban

Published Fri, 27 Dec 2024 08:06:32 GMT

SALT LAKE CITY (AP) — A Utah judge on Friday will consider a request from Planned Parenthood to delay implementing a statewide ban on abortion clinics set to begin taking effect next week.Planned Parenthood argues a state law passed earlier this year will effectively end access to abortion throughout the state when clinics next week stop being able to apply for the licenses they’ve historically relied on to operate.The organization operates three of Utah’s four clinics that provide abortions. It argues that, with the clinic ban, the Utah Legislature “sought an alternative means” to further restrict abortions while awaiting a state Supreme Court ruling on a “trigger law” that would outlaw most abortions regardless of trimester.“Women will be forced to carry pregnancies to term against their will; to remain pregnant until they can travel out of state to access this critical, time-sensitive medical care … or to attempt to self-manage their abortions outside the medica...

PGE announces major clean energy storage project in Portland

Published Fri, 27 Dec 2024 08:06:32 GMT

PORTLAND, Ore. (AP) — Portland General Electric, the utility serving Portland, Oregon, plans to announce Friday it is putting in 400 MW of power, the second-largest battery storage installation in the United States. The significance of such projects is they diminish the need for power plants that burn fossil fuels that warm the planet.Only the Vistra Moss Landing in California, which is currently 400 MW but will soon add an additional 350 MW, is larger out of all the standalone battery projects in the country.The Portland project will generate enough electricity for around 260,000 homes, roughly the size of Portland, for four hours at full power.“Although we are a small utility, I like to think we punch above our weight,” said Brett Greene, PGE’s senior director, calling it an important step towards reducing carbon emissions 80% by 2030.Batteries are playing a critical role in the clean energy transition because they supply electricity during times of low sunlight and wind and can a...