Today: October 08, 2024
Today: October 08, 2024

Latest From The Los Angeles Post

World

Boeing and a key supplier find a new manufacturing issue that affects the 737 Max airliner

Boeing and a key supplier say that a new manufacturing flaw could delay deliveries of the 737 Max, Boeing’s best-selling plane. Boeing and Spirit AeroSystems said they discovered improperly drilled fastener holes in the aft pressure bulkhead — which maintains pressure when planes are at cruising altitude – on the fuselages of some models of the 737 Max. Wichita, Kansas-based Spirit said late Wednesday because it uses multiple suppliers, only some units are impacted and it will continue to deliver fuselages to Boeing. Boeing said the issue does not affect safety of flight, and 737 Max planes already in service

Boeing and a key supplier find a new manufacturing issue that affects the 737 Max airliner
World

T-Mobile will lay off 5,000 employees, or about 7% of its workforce, in the coming weeks

Wireless carrier T-Mobile said Thursday it plans to cut 5,000 jobs, or about 7% of its workforce. In email to employees shared in a regulatory filing, CEO Michael Sievert said the layoffs would come over the next five weeks and impact T-Mobile workers across the country — particularly those working in corporate and back-office roles, as well as some technology positions. Retail and customer service teams will not be part of the cuts. “This is a large change, and an unusual one for our company,” Sievert wrote. “Because of this, we do not envision making additional

T-Mobile will lay off 5,000 employees, or about 7% of its workforce, in the coming weeks
World

Average long-term US mortgage rate jumps to 7.23% this week to highest level since June 2001

The average long-term U.S. mortgage rate climbed further above 7% this week to its highest level since 2001, another blow to would-be homebuyers grappling with rising home prices and a stubbornly low supply of properties on the market. Mortgage buyer Freddie Mac said Thursday that the average rate on the benchmark 30-year home loan climbed to 7.23% from 7.09% last week. A year ago, the rate averaged 5.55%. It’s the fifth consecutive weekly increase for the average rate, which is now at its highest level since early June 2001, when it averaged 7.24%. High rates can

Average long-term US mortgage rate jumps to 7.23% this week to highest level since June 2001
World

Prigozhin's purported demise seems intended to send a clear message to potential Kremlin foes

When Yevgeny Prigozhin launched his armed rebellion that challenged the Kremlin, Western officials predicted Russian President Vladimir Putin would seek vengeance against the mercenary leader. Two months to the day after the action that Putin labeled a “stab in the back” and “treason,” those forecasts seem to have come true, in ruthless and menacing fashion. Although authorities have not yet confirmed the deaths of Prigozhin and his top lieutenants from the Wagner private military contractor in Wednesday’s plane crash northwest of Moscow, it sent an immediate chill through Russian official circles. Even amid the uncertainty, the message was clear: Anyone

Prigozhin's purported demise seems intended to send a clear message to potential Kremlin foes
World

Sandwich chain Subway will be sold to fast-food investor Roark Capital

Subway said Thursday it will be sold to Roark Capital, a private equity firm with expertise in restaurant management that could help the sandwich chain expand and improve its stores. Terms of the deal weren’t disclosed. Earlier this week, The Wall Street Journal reported that Atlanta-based Roark was offering around $9.6 billion for Subway, which is privately owned. Subway CEO John Chidsey, who joined the company in 2019, said the deal reflects Subway’s long-term growth potential and the value of the brand. Subway plans to continue to modernize restaurants and expand internationally under Roark’s ownership. Subway said its leadership team

Sandwich chain Subway will be sold to fast-food investor Roark Capital
World

Basketball's World Cup is set to begin, and the U.S. isn't worrying about pressure

The Naismith Trophy is part of the prize package for winners of the Basketball World Cup. It made a whirlwind tour over the last few weeks, including a stop in Las Vegas where U.S. guard Tyrese Haliburton got to spend a little time in its company. He immediately understood the mission. “It’s nice to see it,” Haliburton said. “It’ll be nicer if we bring it home.” The chance for 32 teams to do just that finally gets underway on Friday, when the World Cup begins in the Philippines, Indonesia and Japan. Consider this a redemption-type opportunity

Basketball's World Cup is set to begin, and the U.S. isn't worrying about pressure
World

Cardinals trade Isaiah Simmons, the No. 8 overall pick in the 2020 draft, to the NY Giants

The Arizona Cardinals have traded Isaiah Simmons to the New York Giants, moving on from the No. 8 overall pick in the 2020 draft after three seasons. The deal was announced on Thursday, less than a week after Simmons had a disappointing preseason performance in a loss to the Kansas City Chiefs. The Giants are sending a seventh-round pick in the 2024 draft to the Cardinals. The move is pending Simmons passing a physical. The 25-year-old Simmons was seen as a can’t-miss defensive prospect in the 2020 draft after a stellar college career at Clemson. But

Cardinals trade Isaiah Simmons, the No. 8 overall pick in the 2020 draft, to the NY Giants
World

Shein and Forever 21 team up in hopes of expanding reach of both fast-fashion retailers

Fast fashion retailers Shein and Forever 21 are going into business together. Under a partnership agreement announced Thursday, the Chinese-founded Shein will acquire about one-third interest in Sparc Group, Forever 21’s operator. Sparc will also become a minority shareholder in Shein. The deal is expected to expand Forever 21’s distribution on Shein’s global e-commerce platform, which has attracted 150 million online users. In turn, the partnership “also offers the opportunity to test” Shein product sales and returns in physical Forever 21 stores across the U.S., the companies said in a joint release. Forever 21 has more

Shein and Forever 21 team up in hopes of expanding reach of both fast-fashion retailers
World

King Charles and Camilla to make up postponed state visit to France in September

King Charles III and Queen Camilla will visit France in September, Buckingham Palace said Thursday, after their planned state visit in March was postponed amid widespread demonstrations against President Emmanuel Macron’s retirement age reforms. The couple had planned to tour Paris and Bordeaux in March as part of their debut on the world stage as monarch and queen consort. But the trip was shelved after violent nationwide protests rocked France, and Germany, which was originally intended to be the second leg of the journey, became the royals’ first destination instead. Palace officials say a state visit to

King Charles and Camilla to make up postponed state visit to France in September
World

Uber raises minimum age for most California drivers to 25, saying insurance costs are too high

Uber raised the minimum age requirement for most of its new drivers in California to 25 on Thursday under rules the company said are necessary because of the rising costs of commercial auto insurance in the state. The new rule applies only to drivers signing up to transport passengers with Uber’s ride-hailing platform, and not for those delivering food with Uber Eats. Previously drivers as young as 19 could sign up. Those under 25 who activated their accounts prior to Wednesday can continue to drive for Uber, the company said. Insurance rates for Uber’s California drivers

Uber raises minimum age for most California drivers to 25, saying insurance costs are too high
World

Support grows for sustainable development, a 'bioeconomy,' in the Amazon

If all goes according to plan, in a few weeks people will be sipping a shake that Marcelo Salazar has been developing for three years, made from the Amazon jungle’s cornucopia. His company Mazo Mana Forest Food has partnered with communities that live from the forest and gather the Brazil nuts, cocoa beans, acai, mushrooms, fruits and other ingredients that go into the drinks. They have received some backing from a business incubator based in Manaus that focuses on sustainable forest businesses, to counter an economy based on logging and ranching. “To turn the game around,

Support grows for sustainable development, a 'bioeconomy,' in the Amazon
World

Ukraine marks Independence Day and vows to keep fighting Russia as it remembers the fallen

Ukraine on Thursday marked its second Independence Day since Russia’s full-scale invasion, with officials vowing to keep up their fight to drive out the Kremlin’s forces and local people remembering their fallen loved ones. The national holiday coincided with the war’s 18-month milestone, giving a somber mood to the commemorations. “We remember everyone who gave their lives for freedom and independence, for the free future of Ukraine,” Ukraine President Volodymyr Zelenskyy said in a social media post. He said that an independent Ukraine is “what we are fighting for.” In the northeastern Kharkiv region, families visited

Ukraine marks Independence Day and vows to keep fighting Russia as it remembers the fallen
World

The downed Russian jet carried Wagner's hierarchy, from Prigozhin's No. 2 to his bodyguards

The passenger manifest of the plane that went down in Russia is essentially a who’s who of Wagner mercenaries: Its second-in-command, who baptized the group with his nom de guerre. The logistics chief. A fighter wounded by U.S. airstrikes in Syria. At least one possible bodyguard. And, of course, Yevgeny Prigozhin himself, Wagner’s leader and mutineer who many believed was a marked man after his short-lived uprising in June against the Russian military. In all, the other passengers included six of Prigozhin’s lieutenants, along with the three-member flight crew. DMITRY UTKIN For a long time, Utkin was believed to be

The downed Russian jet carried Wagner's hierarchy, from Prigozhin's No. 2 to his bodyguards
World

Yankees turning attention to 2024 in the midst of `a disaster' season

“How We Do” blared from the clubhouse speakers as disco lights flashed to the rap. Aaron Judge took over the wrestling championship belt that Anthony Volpe had held since the rookie’s three-run homer sparked a win at Miami on Aug. 11. “He’s never going to get the belt back again if it’s going to lead to eight, nine losses in a row,” Judge said with a playful smile. Despite a feel-good 9-1 victory over Washington on Wednesday night that ended the Yankees’ first nine-game losing streak in 41 years, New York (61-65) is 9 1/2 games

Yankees turning attention to 2024 in the midst of `a disaster' season
World

Transgender adults are worried about finding welcoming spaces to live in their later years

Rajee Narinesingh faced struggles throughout her life as a transgender woman, from workplace discrimination to the lasting effects of black market injections that scarred her face and caused chronic infections. In spite of the roadblocks, the 56-year-old Florida actress and activist has seen growing acceptance since she first came out decades ago. “If you see older transgender people, it shows the younger community that it’s possible I can have a life. I can live to an older age,” she said. “So I think that’s a very important thing.” Now, as a wave of new state

Transgender adults are worried about finding welcoming spaces to live in their later years
World

FIFA opens case against Spanish soccer official who a kissed player on the lips at Women's World Cup

FIFA opened a disciplinary case Thursday against the Spanish soccer official who kissed a player on the lips while celebrating the team’s victory in the Women’s World Cup final. The governing body’s disciplinary committee will weigh if Spanish soccer federation president Luis Rubiales violated “the basic rules of decent conduct” and “behaving in a way that brings the sport of football and/or FIFA into disrepute.” Rubiales kissed player Jenni Hermoso on the lips during the trophy and medal ceremony on Sunday after Spain’s 1-0 victory over England in Sydney, Australia. Minutes earlier, Rubiales grabbed his crotch as

FIFA opens case against Spanish soccer official who a kissed player on the lips at Women's World Cup
World

Fewer Americans apply for jobless benefits as labor market keeps humming along

Applications for unemployment benefits fell again last week as America’s labor market continues to hum along despite attempts by the Federal Reserve to cool the economy and bring down inflation that’s still higher than optimal. The number of Americans applying for jobless benefits fell last week by 10,000, to 230,000 the week ending August 19, the Labor Department reported Thursday. The four-week moving average of claims, a less volatile measure, rose by 2,250 to 236,750. Jobless claim applications are seen as reflective of the number of layoffs in a given week. Overall, 1.7 million people were collecting unemployment benefits the

Fewer Americans apply for jobless benefits as labor market keeps humming along
World

Turkey’s central bank raises interest rates again in another sign of normalizing economic policy

Turkey’s central bank raised its key interest rate by an aggressive 7.5 percentage points on Thursday, in a new sign of a return to more traditional economic policies under President Recep Tayyip Erdogan. The bank hiked its policy rate to 25% as it continued to backtrack from a rate-cutting course set by Erdogan, which has been blamed for inflaming a cost-of-living crisis. Many households have been left struggling to afford rent and basic goods. Erdogan has long argued that lowering interest rates helps fight inflation, a theory that runs contrary to traditional economic thinking. Central banks

Turkey’s central bank raises interest rates again in another sign of normalizing economic policy
World

Building collapse in Nigeria's capital leaves two people dead while many are feared trapped

Rescue crews were searching for survivors Thursday after a building collapse in Nigeria’s capital left two people dead while many others are feared trapped, emergency officials said. The two-story building in the densely populated Garki district of the capital Abuja collapsed during a downpour late Wednesday, witnesses said. It served both as a shopping center and a residential block and some of those trapped were believed to be shoppers. Nkechi Isa, spokeswoman for the Federal Emergency Management Agency (FEMA) in the city said 37 people have so far been pulled alive from the rubble. She said

Building collapse in Nigeria's capital leaves two people dead while many are feared trapped
World

Starbucks' pumpkin spice latte turns 20, beloved by millions and despised by some

The seasonal drink that made pumpkin spice a star is turning 20. And unlike the autumn days it celebrates, there seems to be no chill in customer demand. Starbucks’ Pumpkin Spice Latte goes on sale Thursday in the U.S. and Canada, as it does each year when the nights start getting longer and the fall winds gather. It’s the coffee giant’s most popular seasonal beverage, with hundreds of millions sold since its launch in 2003. And it has produced a huge — and growing — industry of imitators flecked with cinnamon, nutmeg and clove. In the year ending July 29,

Starbucks' pumpkin spice latte turns 20, beloved by millions and despised by some
World

Major wildfires sweeping through forests in Greece force evacuations near Athens and the northeast

Major wildfires burning for days in northeastern Greece and on the fringes of the country’s capital have incinerated more tracts of forest and forced additional evacuations Thursday as firefighters struggled against strong winds and arid conditions to bring the multiple fronts under control. The wildfires have left 20 people dead over the last week. Eighteen of those, including two boys aged between 10 and 15, are believed to be migrants who crossed the nearby border with Turkey. Their bodies were found by firefighters near a shack in a burnt forest area in northeastern Greece. Sixty firefighters

Major wildfires sweeping through forests in Greece force evacuations near Athens and the northeast
World

A top court in Pakistan will rule on a conviction appeal from ex-Prime Minister Imran Khan

A court in Pakistan’s capital is expected to issue a crucial ruling Thursday on an appeal from the country’s imprisoned former Prime Minister Imran Khan against his recent conviction and three-year sentence in a graft case, one of his lawyers said. The former cricket star and top opposition leader was found guilty of concealing assets after selling state gifts he received while in office and was convicted and sentenced on Aug. 5 by another court. Khan, through his legal team, requested his release, saying the trial court sentenced him in haste. The 70-year-old Khan, who was ousted

A top court in Pakistan will rule on a conviction appeal from ex-Prime Minister Imran Khan
World

Hopeful signs of an economic 'soft landing' emerge in Jackson Hole as Fed meets with world watching

At the height of the post-pandemic economic recovery, Andy Parazette’s taco shop enjoyed such a crush of business that customers sometimes had to wait an hour for a burrito. Though Parazette welcomed the sales, the influx was unsustainable. Jackson Hole, Wyoming, was absorbing a flood of visitors as Americans crowded into nearby Yellowstone and Grand Teton national parks — outdoor sites seen as safe vacation spots. The uber-wealthy who owned area properties arrived, too, to ride out the pandemic. “The COVID thing was unmanageable,” Parazette said of the summers of 2020 and 2021. “I’d never

Hopeful signs of an economic 'soft landing' emerge in Jackson Hole as Fed meets with world watching
World

Iran, Saudi Arabia and Egypt are among 6 nations set to join the BRICS economic bloc

Iran and Saudi Arabia are among six nations invited Thursday to join the BRICS bloc of developing economies. United Arab Emirates, Argentina, Egypt and Ethiopia are also set to join the bloc from 2024. The announcement was made at the BRICS summit in Johannesburg by South African President Cyril Ramaphosa, whose country is the current BRICS chair. BRICS is currently made up of the emerging economies of Brazil, Russia, India, China and South Africa. Those five members agreed at this week’s summit to expand the bloc. It’s the second time that BRICS has decided to expand. The

Iran, Saudi Arabia and Egypt are among 6 nations set to join the BRICS economic bloc
World

Niger junta's 3-year transition plan is a 'provocation,' says West African regional bloc

The West African bloc ECOWAS rejected the proposal by Niger’s mutinous soldiers for a three-year transition to democratic rule, with a commissioner describing the slow timeline as a provocation. The door for diplomacy with Niger’s junta remained open but the bloc is not going to engage in drawn-out talks that lead nowhere, Abdel-Fatau Musah, the ECOWAS commissioner for peace and security, told The Associated Press in an interview Wednesday. “It is the belief among the ECOWAS heads of state and also the commission that the coup in Niger is one coup too many for the region

Niger junta's 3-year transition plan is a 'provocation,' says West African regional bloc

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