Business News
August 12, 2024AP Scorecard
August 12, 2024AP- News
August 12th, 2024
Americans’ refusal to keep paying higher prices may be dealing a final blow to US inflation spike
WASHINGTON (AP) — The great inflation spike of the past three years is nearly spent — and economists credit American consumers for helping slay it. Some of America’s largest companies say their customers are increasingly seeking cheaper alternative products and services, searching for bargains or just avoiding items they deem too expensive. Consumers aren’t cutting back enough to cause an economic downturn. Rather, the economy appears to be returning to pre-pandemic norms, when most companies felt they couldn’t raise prices much without losing business. A more price-sensitive consumer helps explain why inflation has appeared to be steadily falling toward the Federal Reserve’s 2% target, ending a period of painfully high prices that strained people’s budgets and darkened their outlooks on the economy.
Israel-Hamas war latest: Leaders of France, Germany and Britain endorse push for cease-fire in Gaza
The leaders of France, Germany and Britain in a joint statement have endorsed the latest push by mediators United States, Qatar and Egypt to broker an agreement to end the 10-month Israel-Hamas war. They also call for the return of scores of hostages held by Hamas and the “unfettered” delivery of humanitarian aid. Mediators have spent months trying to get the sides to agree to a three-phase cease-fire. The new statement also calls on Iran and its allies to refrain from any retaliatory attacks that would further escalate regional tensions after the killing of two senior militants in Beirut and Tehran.
New Mars study suggests an ocean’s worth of water may be hiding beneath the red dusty surface
CAPE CANAVERAL, Fla. (AP) — A new study suggests Mars may be drenched beneath its surface, with enough water hiding in the cracks of underground rocks to form a global ocean. The findings, published Monday, are based on computer modeling as well as seismic measurements from NASA’s InSight lander. The spacecraft detected more than 1,300 marsquakes before shutting down two years ago. Scientists say the water is believed to be seven miles to 12 miles down in the Martian crust. It most likely would have seeped from the surface billions of years ago when Mars harbored rivers and lakes.
Crews begin demolishing Texas church where gunman killed more than two dozen in 2017
SUTHERLAND SPRINGS, Texas (AP) — Crews have started to tear down a Texas church where a gunman killed more than two dozen worshippers in 2017. The crews used heavy machinery Monday to raze the small building in Sutherland Springs even after some families sought to preserve the scene of the deadliest church shooting in U.S. history. A judge last month cleared the way for the sanctuary of the First Baptist Church to be torn down. Members of First Baptist voted in 2021 to tear down the building over the protests of some in the small community. Authorities say 26 people, including a pregnant woman and her unborn baby, died in the Nov. 5, 2017, shooting.
Dozens of pregnant women, some bleeding or in labor, are turned away from ERs despite federal law
WASHINGTON (AP) — More than 100 pregnant women in medical distress who sought help from emergency rooms have been turned away or negligently treated since 2022. That’s according to an Associated Press analysis of federal hospital investigations. In Texas, where doctors face up to 99 years in prison if convicted of performing an illegal abortion, medical experts worry the law is complicating decision-making around emergency care for pregnant women. The latest cases come from two women who say they were not treated for dangerous ectopic pregnancies when they sought help at two different emergency rooms in Texas. Both women lost parts of their reproductive system when the ectopic pregnancies ruptured.
Top Ukrainian commander says his forces now control 1,000 square kilometers of Russia’s Kursk region
KYIV, Ukraine (AP) — Ukraine’s top military commander says his forces now control 1,000 square kilometers (386 square miles) of Russia’s neighboring Kursk region. His statement marked the first time a Ukrainian military official has publicly commented on the gains of the lightning incursion that has embarrassed the Kremlin. Gen. Oleksandr Syrskyi made the comment in a video posted Monday to Ukrainian President Volodymyr Zelenskyy’s Telegram channel. Russian forces are still scrambling to respond to the surprise Ukrainian attack after almost a week of fierce fighting. Zelenskyy confirmed for the first time that the Ukrainian military is operating inside the Kursk region and praised the country’s soldiers and commanders.
Georgia No. 1 in preseason AP Top 25 and Ohio State No. 2 as expanded SEC, Big Ten flex muscles
Georgia is No. 1 in The Associated Press preseason college football poll for the second straight year. The Bulldogs received 46 first-place votes to finish comfortably ahead of No. 2 Ohio State, which got 15 top votes. Oregon is No. 3 while Texas is fourth and Alabama is fifth. Conference realignment created an unprecedented preseason poll with just four conferences represented: The SEC has nine ranked teams. The Big Ten has six, the Big 12 has five and the ACC has four. Notre Dame, an independent, is ranked seventh.