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IMF: Prolonged high inflation dims outlook for world economy

Published Tue, 12 Nov 2024 01:21:42 GMT

WASHINGTON (AP) — The outlook for the world economy this year has dimmed in the face of chronically high inflation, rising interest rates and uncertainties resulting from the collapse of two big American banks.That’s the view of the International Monetary Fund, which on Tuesday downgraded its outlook for global economic growth. The IMF now envisions growth this year of 2.8%, down from 3.4% in 2022 and from the 2.9% estimate for 2023 it made in its previous forecast in January. The fund said the possibility of a “hard landing,” in which rising interest rates weaken growth so much as to cause a recession, has ”risen sharply,” especially in the world’s wealthiest countries. “The situation remains fragile,” Pierre-Olivier Gourinchas, the IMF’s chief economist, told reporters Tuesday. ”Downside risks predominate.”The IMF, a 190-country lending organization, is forecasting 7% global inflation this year, down from 8.7% in 2022 but up from its January for...

Why are there so many good TV shows to watch right now?

Published Tue, 12 Nov 2024 01:21:42 GMT

Picture May 17, 2001. In the final seconds of the season seven finale of “Friends,” Jennifer Aniston’s Rachel reveals she’s pregnant — but who’s the father? This was a classic May sweeps cliffhanger, luring viewers and reaping advertising dollars for NBC.Most shows used to kick off in the fall, air big episodes in November and February, and go out with a bang in May. Baby announcements, marriage proposals and sudden deaths were just a few of the popular plot twists used in spring season finales to hook viewers and build anticipation for the fall season.Network television still largely follows that model, but the streamers and premium cable competitors of the new guard tend to operate with different goals. Rather than angling for ratings, those companies are releasing new seasons of popular TV shows — “Ted Lasso,” “Succession,” “The Mandalorian,” “ The Last of Us,” and “ Yellowjackets ” — with an eye to Primetime Emmy Award recognition.Everyone wants to be fre...

Biden administration seeks input on AI safety measures

Published Tue, 12 Nov 2024 01:21:42 GMT

President Joe Biden’s administration wants stronger measures to test the safety of artificial intelligence tools such as ChatGPT before they are publicly released, though it hasn’t decided if the government will have a role in doing the vetting.The U.S. Commerce Department on Tuesday said it will spend the next 60 days fielding opinions on the possibility of AI audits, risk assessments and other measures that could ease consumer concerns about these new systems.“There is a heightened level of concern now, given the pace of innovation, that it needs to happen responsibly,” said Assistant Commerce Secretary Alan Davidson, administrator of the National Telecommunications and Information Administration.The NTIA, more of an adviser than a regulator, is seeking feedback about what policies could make commercial AI tools more accountable. Biden last week said during a meeting with his council of science and technology advisers that tech companies must ensure their products are ...

4 in 10 say next vehicle may be electric: AP-NORC/EPIC poll

Published Tue, 12 Nov 2024 01:21:42 GMT

WASHINGTON (AP) — Many Americans aren’t yet sold on going electric for their next cars, a new poll shows, with high prices and too few charging stations the main deterrents. About 4 in 10 U.S. adults are at least somewhat likely to switch, but the history-making shift from the country’s century-plus love affair with gas-driven vehicles still has a ways to travel.The poll by The Associated Press-NORC Center for Public Affairs Research and the Energy Policy Institute at the University of Chicago shows that the Biden administration’s plans to dramatically raise U.S. EV sales could run into resistance from consumers. Only 8% of U.S. adults say they or someone in their household owns or leases an electric vehicle, and just 8% say their household has a plug-in hybrid vehicle.Even with tax credits of up to $7,500 to buy a new EV, it could be difficult to persuade drivers to ditch their gas-burning cars and trucks for vehicles without tailpipe emissions. Auto companies are investing billion...

Gordon Lightfoot cancels 2023 tour dates due to ‘health-related issues’

Published Tue, 12 Nov 2024 01:21:42 GMT

Iconic Canadian singer-songwriter Gordon Lightfoot has been forced to cancel his existing tour dates due to health-related issues, a spokesperson for the singer says.The remaining dates on his 2023 North American tour have been cancelled and his team is “unable to confirm rescheduled dates at this time.”“We thank you for respecting his privacy as he continues to focus on his recovery,” reads a statement from a spokesperson.The 84-year-old was scheduled to play in Kitchener in October, his only upcoming Canadian date.Known for his chart-topping hits “If You Could Read My Mind” and “The Wreck of the Edmund Fitzgerald,” among others, Lightfoot is widely considered one of the greatest songwriter of all-time.In November 2021, the singer headlined the first show at Toronto’s newly restored Massey Hall. He had the honour of being the final performance at the venue before the doors were shuttered in July 2018.John Tory, Toronto’s m...

Israeli Holocaust memorial criticizes deal with Poland

Published Tue, 12 Nov 2024 01:21:42 GMT

JERUSALEM (AP) — Israel’s national Holocaust memorial has criticized a new agreement renewing Israeli school trips to Poland, saying it recommends a number of “problematic sites” that distort history.Yad Vashem issued its statement weeks after Israel and Poland announced a breakthrough agreement meant to repair ties that had been badly damaged due to disagreements over how to remember Polish behavior during the Holocaust. Israeli youth trips to Poland had been one of the key points of contention.The March 22 agreement, which still needs to be ratified by both countries’ parliaments, stresses the importance of youth education “and the need to tell the full story of the dark times of the Holocaust and World War II.” The contents of the agreement were first reported by the liberal daily Haaretz.It also calls for visits to “sites commemorating the Holocaust and other crimes of World War II,” including sites of special importance to each country’s history. Student groups are required to ...

Folk singer Gordon Lightfoot cancels 2023 concert schedule, citing health

Published Tue, 12 Nov 2024 01:21:42 GMT

Gordon Lightfoot is cancelling all of his planned concerts this year because of his health. In a statement, representatives for the 84-year-old say the singer is experiencing “some health-related issues,” without giving specifics.Lightfoot’s representatives asked for his privacy to be respected as he “continues to focus on his recovery.”They say Lightfoot is unable to confirm rescheduled dates. Lightfoot was slated to play more than a dozen shows in Arizona, California and Florida in April, June and September. His next listed Canadian date was a rescheduled show in Kitchener, Ont., in October. This report by The Canadian Press was first published April 11, 2023. The Canadian Press

Glencore adds US$8.2B cash component to Teck Resources takeover offer

Published Tue, 12 Nov 2024 01:21:42 GMT

VANCOUVER — Swiss company Glencore is modifying its hostile takeover offer for Teck Resources Ltd. to include an US$8.2-billion cash component to its proposal.Under the revised offer, Teck shareholders would receive 24 per cent of the combined metals company and the cash.The company’s initial proposal had been an all-stock offer that would have seen Glencore acquire Teck and then split up the metals side of both companies along with parts of Glencore’s marketing business into one company, and the combined coal and some other related assets into another company. Glencore says the revised offer would effectively buy Teck shareholders out of their coal exposure.It says it acknowledges that certain Teck investors may prefer a full coal exit and others may not desire thermal coal exposure.  Teck rejected Glencore’s initial unsolicited takeover offer in favour of its own plan, announced in February, that would see it split up its metal and coal businesses into two compan...

Serbian journalists mark unsolved 1999 killing of journalist

Published Tue, 12 Nov 2024 01:21:42 GMT

BELGRADE, Serbia (AP) — Independent Serbian journalists marked on Tuesday the 24th anniversary of the killing of a prominent editor and newspaper publisher who was fiercely critical of the government in Belgrade. Slavko Curuvija was shot dead at the entrance to his Belgrade apartment during the 1999 NATO bombing of Serbia over its crackdown against Kosovo Albanian separatists.His killing became a symbol of the struggle for a free press in the Balkan nation.Independent media organizations, both local and international, warn that critical journalists still face threats because of their work. The government of populist President Aleksandar Vucic – who was information minister at the time of Curuvija’s death – maintains tight control over mainstream media outlets.Four state security officials were charged with planning and carrying out the killing, but no final verdict has been reached despite several retrials and appeals.Foreign rights groups attended the gatherings of independen...

Russian forces in Crimea brace for possible Ukraine assault

Published Tue, 12 Nov 2024 01:21:42 GMT

KYIV, Ukraine (AP) — The Moscow-appointed leader of Crimea said Tuesday the region is on guard for what may be an impending Ukrainian counteroffensive.Sergei Aksyonov told reporters that Russian forces in Crimea had built “modern, in-depth defenses” and had “more than enough” troops and equipment to repel a possible Ukrainian assault after 13 months of war following Russia’s full-scale invasion.“We cannot underestimate the enemy, but we can definitely say that we are ready (for an attack) and that there will be no catastrophe,” he said.His comments came days after Ukrainian President Volodymyr Zelenskyy reaffirmed Kyiv’s intention to take back the Black Sea peninsula that Russia illegally annexed from Ukraine in 2014.Aksyonov first announced the beginning of fortification works in Crimea in November, without giving details. In February, at a security meeting chaired by Russian President Vladimir Putin, he said that the works were set to finish by April. Satellite images publis...