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2 Federal Reserve officials oppose an interest rate cut in December

2 Federal Reserve officials oppose an interest rate cut in December

By CHRISTOPHER RUGABER

WASHINGTON (AP) — Two Federal Reserve officials expressed opposition Wednesday to another interest rate cut at the central bank’s next meeting in December, further muddying the outlook for the Fed’s next steps.

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The remarks by Susan Collins, president of the Federal Reserve Bank of Boston, and Raphael Bostic, president of the Atlanta Fed, suggest that the central bank’s rate-setting committee could be tilting against what had been an expected third straight cut next month.

The officials cited several reasons for keeping rates unchanged, after a reduction in September and in October. They argued that inflation is stubbornly elevated and has been above the Fed’s 2% target for nearly five years, while the economy is resilient and doesn’t appear to need more rate cuts. The job market is stumbling, with hiring nearly at a standstill, but layoffs still seem muted, they said. read more

Morgan & Morgan drops ‘Steamboat Willie’ lawsuit against Disney

Morgan & Morgan drops ‘Steamboat Willie’ lawsuit against Disney

Morgan & Morgan dropped a lawsuit against Disney on Wednesday that asked a judge to rule the law firm could use an adaptation of the nearly century-old “Steamboat Willie” cartoon in one of its ads.

The Orlando-based personal injury firm asked a federal court to dismiss the suit without prejudice, meaning another legal action could be filed in the future.

Morgan & Morgan did not immediately respond to a request for comment. The filing did not specify why the suit was dropped or if a settlement had been reached.

The 1928 “Steamboat Willie” animated short, featuring the official debut of Mickey and Minnie Mouse, entered the public domain last year, but Disney still holds trademark rights as well as copyright protections for later, more modern versions of the characters.

The suit asked a judge to declare that the law firm’s proposed commercial does not infringe on any of Disney’s intellectual property rights and block the entertainment giant from filing suit against Morgan & Morgan over its ad. read more

By the numbers: The government shutdown’s toll on air travel in the US

By the numbers: The government shutdown’s toll on air travel in the US

By RIO YAMAT, Associated Press

America’s aviation system is straining under the weight of the longest government shutdown on record: thousands of flight cancellations, long delays at major airports and frustrated travelers nationwide.

In an unprecedented move, the Federal Aviation Administration last week ordered airlines to scale back domestic flight schedules, saying the cuts are meant to ease pressure on an overstretched system and help manage air traffic control staffing.

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Unpaid for more than a month, some air traffic controllers have begun calling out of work, citing stress and the need to take on second jobs — leaving more control towers and facilities short-staffed. read more

With their government contracts in limbo, small businesses await a historic shutdown’s end

With their government contracts in limbo, small businesses await a historic shutdown’s end

By MAE ANDERSON, AP Business Writer

NEW YORK (AP) — The end of the longest U.S. government shutdown in history would be a relief for small businesses that depend on federal contracts or funding. For seven weeks, they’ve been reducing spending, weighing layoffs and looking for stable work while trying to reach shuttered government offices, according to several contractors.

House lawmakers are returning to Washington on Wednesday to vote on compromise legislation that would fund the government through Jan. 30. A majority of Democrats are expected to vote against the bill, which is likely to win approval in the Republican-led chamber.

Small business owners with government contracts say the shutdown has caused payment delays and the cancellation of some projects, and they will be working to make up for lost time and money, if the government reopens.

FILE – Veteran and business owner Jackson Dalton arranges protective... FILE – Veteran and business owner Jackson Dalton arranges protective gear at the Black Box Safety offices, Thursday, Nov. 7, 2024, in El Cajon, Calif. (AP Photo/Gregory Bull, File) FILE – Veteran and business owner Jackson Dalton gestures towards... FILE – Veteran and business owner Jackson Dalton gestures towards protective gear at the Black Box Safety offices, Thursday, Nov. 7, 2024, in El Cajon, Calif. (AP Photo/Gregory Bull, File) FILE – Veteran and business owner Jackson Dalton walks along... FILE – Veteran and business owner Jackson Dalton walks along a hallway at the Black Box Safety offices, Thursday, Nov. 7, 2024, in El Cajon, Calif. (AP Photo/Gregory Bull, File)

Uncertainty on projects

Jackson Dalton, owner of Black Box Safety, a maker of personal protective equipment, was awarded a $1.9 million federal contract for flashlights the day before the shutdown started on Oct. 1. read more

Diverse and resilient energy production is needed to meet future demand, global report says

Diverse and resilient energy production is needed to meet future demand, global report says

By ALEXA ST. JOHN, Associated Press

Electricity demand will rise much faster than overall energy growth in the coming decades, underscoring the need for diversified energy sources, according to an analysis released Wednesday.

The report by the International Energy Agency said renewable energy, led by solar power, will grow faster than any other major source in the next few years. One scenario the agency anticipates is coal and oil demand peaking globally by the end of this decade — but the group also said global oil and gas demand could continue growing until 2050. The report noted that many natural gas projects were approved in 2025, due to changes in U.S. policy, indicating worldwide supply will rise even as questions remain about how it will be used. Meanwhile, global nuclear power capacity is set to increase by at least a third by 2035 after being stagnant for years.

The release of the annual World Energy Outlook coincided with U.N. climate negotiations in Brazil this week where global leaders are calling for ways to curb the planet’s warming. read more