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Business Highlights: Debt crisis roils Washington; Meta fined record $1.3 billion by EU

Published Wed, 05 Mar 2025 18:33:44 GMT

___ What it would mean for the global economy if the US defaults on its debtWASHINGTON (AP) — If the debt crisis roiling Washington were eventually to send the United States crashing into recession, America’s economy would hardly sink alone. The repercussions of a first-ever default on the federal debt would quickly reverberate around the world. Orders for Chinese factories that sell electronics to the United States could dry up. Swiss investors who own U.S. Treasurys would suffer losses. Sri Lankan companies could no longer deploy dollars as an alternative to their own dodgy currency. Moody’s Analytics has concluded that even if the debt limit were breached for no more than week, the U.S. economy would weaken so much, so fast, as to wipe out 1.5 million jobs.___Meta fined record $1.3 billion and ordered to stop sending European user data to USLONDON (AP) — The European Union has slapped Meta with a record $1.3 billion privacy fine and ordered it to stop transferring users’ personal...

How major US stock indexes fared Monday 5/22/2023

Published Wed, 05 Mar 2025 18:33:44 GMT

Stocks drifted to a mixed close as Wall Street waited to see whether a pivotal meeting later in the day will help the U.S. government avoid a potentially disastrous default on its debt. The S&P 500 closed little changed Monday. The Dow slipped 0.4% and the Nasdaq rose 0.5%. Big Tech was continuing its strong run for the year so far, including Meta Platforms. Even a record fine from the European Union couldn’t slow it. Micron Technology was on the losing end after China accused its products of risking national security amid high tensions between Washington and Beijing.On Monday:The S&P 500 rose 0.65 points, or less than 0.1%, to 4,192.63.The Dow Jones Industrial Average fell 140.05 points, or 0.4%, to 33,286.58.The Nasdaq composite rose 62.88 points, or 0.5% to 12,720.78.The Russell 2000 index of smaller companies rose 21.67 points, or 1.2%, to 1,795.38.For the year:The S&P 500 is up 353.13 points, or 9.2%.The Dow is up 139.33 points, or 0.4%.The Nasdaq is up 2,254.29 poi...

Michael Malone one of least liked NBA coaches, survey says

Published Wed, 05 Mar 2025 18:33:44 GMT

DENVER (KDVR) -- It makes very little difference how well the team performs - National Basketball Association fans have mainly negative views of coaches.Sports Gambling site Betway combed through millions of tweets to see which NBA coach is the most loved - or the least hated, at least. Nuggets could be headed to NBA Finals for 1st time ever Perhaps unsurprisingly, negative opinions online are far more common than positive ones. The league's most loved coach is the Indiana Pacers' Rick Carlisle, about whom 30.9% of tweets were positive - meaning over two-thirds were negative for even the most popular coach in the league. However, this comparatively positive assessment comes with a caveat - Carlisle only had 2,421 tweets about him in the past 12 months, the lowest amount of any coach in the comparison.Apparently, a winning record makes little difference in the public's perception of the coach. The Denver Nuggets could be headed to the NBA Finals for the first t...

Are Nuggets tickets for the NBA Finals on sale yet?

Published Wed, 05 Mar 2025 18:33:44 GMT

DENVER (KDVR) -- The Denver Nuggets were up 3-0 against the Los Angeles Lakers going into Monday's Game 4 of the NBA Western Conference finals, meaning the team is only one win away from the NBA Finals.This has led some people to speculate -- and hotly anticipate -- that the Nuggets could soon be making history in a first-ever finals appearance. Nuggets could be headed to NBA Finals for 1st time ever Even though the future is uncertain, you might be wondering if you can already buy tickets to a game before it's announced.Are NBA Finals tickets on sale?Yes, sort of.Because the conference finals aren't over, there are no set dates or times. This also means there isn't a set opponent yet, but if they do go to the finals, they will play against either the Miami Heat or the Boston Celtics.But with the way the NBA Finals are structured, it is guaranteed that if Denver does pull off four total wins against the Lakers, at least two finals games will be played in the Mile High City. 11 t...

Bar employee accused of sexually assaulting transgender woman in Miami bar

Published Wed, 05 Mar 2025 18:33:44 GMT

A male employee at Sweet Caroline Karaoke Bar was taken into custody after, police said, he sexually assaulted a transgender woman in a bathroom.Luigi Andre Cavani, 25, faces charges of sexual battery, according to an arrest report from the City of Miami Police Department.The 31-year-old victim stated that she entered the restroom alone when Cavani allegedly grabbed her hand and forcibly pulled her into a single-stall bathroom, proceeding to unbutton her pants.According to the report, the victim repeatedly told Cavani to stop and attempted to push him away. Later, the victim’s friends confronted Cavani, to which he reportedly responded, “I’m sorry, I thought it was cool.”Following the victim’s report of the sexual assault, Cavani voluntarily visited a police station and informed officers that he believed the encounter had been consensual. He also expressed his intention to clarify what had transpired on Friday night, emphasizing that he would never enga...

Woman arrested for DUI, causes serious injuries to children on their way to celebrate kindergarten graduation

Published Wed, 05 Mar 2025 18:33:44 GMT

FROSTPROOF, FLA. (WSVN) – A 32-year-old woman from Orlando, identified as Ashauntie Cox, was arrested on Friday, May 19, after causing serious bodily harm to two children in her vehicle while fleeing from two crashes and driving under the influence. The incident occurred as the family was on their way to celebrate a 5-year-old’s kindergarten graduation.According to witnesses and information gathered during the investigation, the first crash took place around 8:00 p.m. on US Hwy 27 at the intersection with US Hwy 98 near Frostproof. Cox, who was driving a blue Kia southbound on Hwy 27, collided with a grey Chevy Silverado pickup truck before attempting to flee the scene at a high rate of speed. As she recklessly continued down Hwy 27, weaving through traffic, she rear-ended a 2016 Honda CRV while trying to overtake it and the adjacent vehicle. Both the Honda CRV driver and Cox were traveling in the same direction. The driver of the CRV was treated and released with minor ...

‘Verified’ Twitter accounts share fake image of ‘explosion’ near Pentagon, causing confusion

Published Wed, 05 Mar 2025 18:33:44 GMT

A fake image purporting to show an explosion near the Pentagon was shared by multiple verified Twitter accounts on Monday, causing confusion and leading to a brief dip in the stock market. Local officials later confirmed no such incident had occurred.The image, which bears all the hallmarks of being generated by artificial intelligence, was shared by numerous verified accounts with blue check marks, including one that falsely claimed it was associated with Bloomberg News.“Large explosion near the Pentagon complex in Washington DC. – initial report,” the account posted, along with an image purporting to show black smoke rising near a large building.The account has since been suspended by Twitter. It was unclear who was behind the account or where the image originated.Under owner Elon Musk, Twitter has allowed anyone to obtain a verified account in exchange for a monthly payment. As a result, Twitter verification is no longer an indicator that an account represents who it claims to re...

Police: Officer’s gun accidentally goes off during response to swatting call at St. John’s Prep in Danvers

Published Wed, 05 Mar 2025 18:33:44 GMT

Authorities said an officer’s firearm accidentally went off while police were responding to what turned out to be a “swatting” hoax call at St. John’s Preparatory School in Danvers on Monday.Massachusetts State Police said no threats were found after state and local police were called to the Catholic, all-boys school for what was initially a report of an active shooter.Authorities said the sound of the gunshot during the response prompted even more panic, though.Police said they first responded to the school around 2 p.m. after receiving a call reporting a man with a gun in the school. The St. John’s campus went into lockdown as police arrived. Officers, police said, made quick entry during their response and were able to determine that there didn’t appear to be injuries or an active shooter threat.Then, though, the accidental gun discharge happened, contributing to a situation where Danvers Police Chief James Lovell said communication was difficult.&nbs...

Ukraine’s ambassador speaks to BC students during commencement 

Published Wed, 05 Mar 2025 18:33:44 GMT

Ukraine’s ambassador to the United States was at Boston College’s Alumni Stadium Monday, giving a special message to the school’s graduating class during their commencement. Oksana Markarova was appointed to her ambassador role in 2021, just months before Russia’s all out invasion of Ukraine. “Love gives you the strength to perform miracles,” she said. “Russia set our house on fire fueled by hatred. We fight out of love for our country.”“We all have many battles to fight in, many obstacles to overcome, many challenges to see through,” Markarova continued. “And where we altogether will get strength to do it? In our responsibility to take action for what we love.” The ambassador accepted an honorary degree on behalf of the people of Ukraine during the commencement ceremony. Approximately 4,400 Boston College students received undergraduate and graduate degrees.

Police investigating after one person shot in Dorchester

Published Wed, 05 Mar 2025 18:33:44 GMT

One person was shot in Dorchester Monday, drawing an emergency response and prompting road closures in the area, according to police. SKY7-HD was over the scene at the intersection of Columbia Road and Devon Street around 5:30 p.m., where several Boston police cruisers were visible. Police said the person who was shot was taken to a local hospital with life-threatening injuries. Traffic was shut down at multiple intersections along Columbia Road as of around 5:30 p.m.This is a developing story; stay with 7NEWS on-air and online for the latest updates.