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Ready for a digital euro? At 25, European Central Bank preps for future of money

Published Tue, 25 Feb 2025 05:51:58 GMT

FRANKFURT, Germany (AP) — As it marks its 25th anniversary Wednesday, the European Central Bank is readying a proposed design for a digital version of the euro, responding to pressure from developing technology that could change how money is used over the bank’s next decades. ECB President Christine Lagarde says a digital euro could offer a way for people to buy things without depending on payment service providers controlled by non-European companies. Those could include Mastercard, Visa, Apple Pay and Google Pay. The European Union’s executive Commission is expected to come up with proposed legislation on the idea in the next several weeks, ECB officials say, while the central bank will publish a detailed proposal for the design of a digital currency in October.Central banks worldwide, including the U.S. Federal Reserve, are cautiously studying digital currencies as cash increasingly gives way to electronic payments. Some smaller economies such as Nigeria, the Bahamas ...

After AP report, Iran’s nuclear chief says Tehran to cooperate with inspectors on ‘new activities’

Published Tue, 25 Feb 2025 05:51:58 GMT

DUBAI, United Arab Emirates (AP) — The head of Iran’s nuclear program insisted Wednesday that his government would cooperate with international inspectors on any “new activities.” His statement followed an exclusive Associated Press report about Tehran’s new underground system near a nuclear enrichment facility.The AP outlined this week how deep inside a mountain, the new tunnels near the Natanz facility are likely beyond the range of a last-ditch U.S. weapon designed to destroy such sites. The report sparked wider conversation across the Middle East about the construction, with Israel’s national security adviser saying Tuesday the site would not be immune from attack even if its depth put it out of range of American airstrikes. Speaking to journalists Wednesday after a Cabinet meeting, Mohammad Eslami of the Atomic Energy Organization of Iran sought to describe the interest in the site as a case of Israel feeling pressured. “The Islamic Republic of Iran is working...

Turkish anti-migrant party backs Erdogan’s rival in presidential runoff

Published Tue, 25 Feb 2025 05:51:58 GMT

ANKARA, Turkey (AP) — A hard-line anti-migrant party on Wednesday threw its weight behind the opposition candidate who is running against President Recep Tayyip Erdogan in this weekend’s runoff presidential race.Umit Ozdag, the leader of the far-right Victory Party, announced his support for main opposition party leader Kemal Kilicdaroglu, who will be facing off against Erdogan on Sunday. He said he decided to back Kilicdaroglu over his promises to repatriate millions of migrants.Ozdag’s announcement came just days after Sinan Ogan, the third-placed contender in the first round of the presidential election on May 14, endorsed Erdogan in the upcoming runoff. Ogan was the joint candidate of an alliance of small conservative parties, led by Ozdag’s Victory Party.Erdogan received 49.5% of the votes in the first round of the presidential race — just short of the majority needed for an outright victory — compared to Kilicdaroglu’s 44.9%.Erdogan’s ruling party and its nationalist and...

Stock market today: World stocks slide as US debt worries mount

Published Tue, 25 Feb 2025 05:51:58 GMT

BEIJING (AP) — Global stock markets and Wall Street futures fell Wednesday as the U.S. government crept closer to a potentially disruptive default on its debt.London and Paris both opened down 1.5%. Shanghai, Tokyo and Hong Kong also declined.Wall Street’s benchmark S&P 500 index fell 1.1% on Tuesday after Speaker Kevin McCarthy of the House of Representatives said, “We’re not there yet” on a deal. That followed a meeting Monday with President Joe Biden that ended with no agreement.“McCarthy’s comments have thrown cold water” on sentiment, Vishnu Varathan of Mizuho Bank said in a report. He said the slide in prices is “paying back for premature optimism around a debt deal.” In early trading, London’s FTSE 100 sank to 7,649.97. The CAC 40 in Paris retreated to 7,264.36 and the DAX in Frankfurt lost 1.3% to 15,936.54.On Wall Street, futures for the S&P 500 and the Dow Jones Industrial Average were off 0.3%.On Tuesday, the Dow dropped 0.7% and the Nasdaq composite l...

Amanda Gorman says her inaugural poem has been banned by school

Published Tue, 25 Feb 2025 05:51:58 GMT

(The Hill) - American poet Amanda Gorman said on Tuesday that the poem she recited during President Biden’s inauguration has been banned by a school in Miami-Dade County. “I’m gutted. Because of one’s parent’s complaint, my inaugural poem, The Hill We Climb, has been banned from an elementary school in Miami-Dade County, Florida,” Gorman said in a statement posted to Twitter. Gorman noted in her statement that, while not new, book bans have been on the rise in recent years. The American Library Association found nearly 2,600 titles were targeted for censorship in 2022, an almost 40 percent increase from the previous year. "What's more, often all it takes to remove these works from our libraries and schools is a single objection," Gorman said.“And let’s be clear: most of the forbidden works are by authors who have struggled for generations to get on bookshelves,” Gorman said. “The majority of these censored works are by queer and non-whit voices.” Gorman also said the reaso...

Former teacher sentenced for sexual abuse

Published Tue, 25 Feb 2025 05:51:58 GMT

BALLSTON SPA, N.Y. (NEWS10) -- A former Ballston Spa High School teacher was sentenced to four to 10 years in prison on Tuesday for first-degree sexual abuse. Crim Trerise, 57, pleaded guilty in March. Get the latest, news, weather, sports and community events delivered right to your inbox! The former math teacher had sexual contact with four children under the age of 14. The crimes took place in the Town of Greenfield, and the victims were known to Trerise.

Run it back: rematch between Ichabod Crane and Glens Falls softball will decide Class B champ

Published Tue, 25 Feb 2025 05:51:58 GMT

MALTA, N.Y. (NEWS10) -- Ichabod Crane softball's run through Section II last season culminated in a 12-0 victory over Glens Falls in the Class B championship game; Glens Falls will have an opportunity for revenge Thursday. Get the latest, news, weather, sports and community events delivered right to your inbox! Both teams overcame early adversity before notching convincing wins in the semifinal round of the Class B tournament played at Luther Forest Athletics Fields - two of four Sec. II playoff semifinal games held there Thursday.Ichabod, once again the top seed in this year's bracket, secured its' spot in the sectional final with a 10-2 victory over fifth-seeded Mechanicville. Glens Falls, owners of the three-seed, run-ruled second-seeded Tamarac after six innings, winning 16-4.The Riders were put on their heels in the first inning with a two-run blast to right from Mechanicville's Brianna Blake.But they were quick to respond in the bottom half of the inning. Third baseman Ava H...

South Glens Falls and Troy prepared to battle for Class A softball crown

Published Tue, 25 Feb 2025 05:51:58 GMT

MALTA, N.Y. (NEWS10) -- You've heard of "March Madness"; now prepare yourselves for "May Malta Mania." Get the latest, news, weather, sports and community events delivered right to your inbox! Luther Forest Athletic Fields in Malta was the site of four Section II sectional semifinal softball games Tuesday night, and will play host to four championship games Thursday.The two teams representing Class A in the title match are top-seeded South Glens Falls and the two-seed Troy. The Bulldogs advanced with a 5-4 win over Averill Park thanks to some late-game heroics from sophomore shortstop Kylee Craft. Meanwhile, the Flying Horses will make a second straight championship game performance after a 5-0 victory over third-seeded Burnt Hills that was fueled by yet another stellar outing from senior pitcher Olivia DeCitise.South Glens Falls got all it could handle from a dangerous, fourth-seeded Warriors squad that was right in the thick of the Suburban Council race this season. After the B...

Colonie, Shenendehowa advance to Class AA softball final

Published Tue, 25 Feb 2025 05:51:58 GMT

SCHENECTADY, N.Y. (NEWS10) -- It was Semifinal Tuesday for Section 2 softball, with 10 semifinal matchups taking place. Schalmont high school played host to the Class AA semifinals. Get the latest, news, weather, sports and community events delivered right to your inbox! Defending champion Saratoga Springs found themselves matched up with top-seeded Colonie. The Raiders struck for two runs in the first inning, and added another in the third to make it a 3-0 game. The Blue Streaks answered with two runs in the fourth, to cut the deficit to one. The Raiders added an insurance run to make it a 4-2 ballgame heading into the seventh inning. Saratoga got the tying runs in scoring position, but Colonie's Adrianna Laraway tallied her sixth strikeout of the game to end a complete game, as the Raiders advanced to the section title game with a 4-2 win. Meanwhile, Guilderland and Shenendehowa played a thriller for the ages. Guilderland jumped out to a 5-1 lead, thanks in large part to a two-...

Poland in talks to buy Swedish early warning aircraft, minister says

Published Tue, 25 Feb 2025 05:51:58 GMT

Poland is in advanced talks to buy Swedish early warning planes and hopes negotiations will be finalized shortly, Polish Defence Minister Mariusz Blaszczak (pictured) said on Monday (22 May).Poland has ramped up military spending since Russia's invasion of neighbouring Ukraine in February last year, with the government pledging to double the size of the army and spend 4% of GDP on defence in 2023."We are conducting detailed negotiations. I hope they will succeed in a short time. This way we strengthen the resilience of Poland, but also of NATO's eastern flank," Blaszczak wrote on Twitter after a meeting of defence ministers from northern Europe.He did not provide further details on the number or type of aircraft discussed.