Latest news with #Streeter
Yahoo
a day ago
- Automotive
- Yahoo
New Yorker says reporting idling vehicles makes him over six figures
New York City — Two years ago, a New Yorker who calls himself "Streeter" left his job in marketing to become a soldier in the war on idling. "Shortly after 6, I'm out on my bike, looking for idling trucks," Streeter said. "I'm essentially biking 6, 7, 8, 9 hours a day." In New York City, it's against the law for trucks and non-city buses to idle — keeping the engine running while stationary — for more than three minutes. However, the law is rarely enforced. That's where the big money comes in for Streeter and others who report idlers. Under the Citizens Air Complaint Program, they can record idling trucks or buses, report them and keep 25% of any fines, which typically range from $350 to $600. Streeter says he makes in excess of six figures reporting idlers. George Pakenham, who's spent much of the last two decades working to clean up the air in New York City, helped make the law happen. "It's a public health issue," Pakenham said. A former Wall Street banker, Pakenham watched his brother, a non-smoker, battle Stage 4 lung cancer. Then he started wondering about the number of vehicles sitting idle and polluting the air. "So I walked up to the limo driver, tapped on the window and said, 'How about just shutting your engine off?' And he did," Pakenham said. He took his frustrations to city legislators. In 2017, they passed the law allowing people to report idling vehicles. Other cities are following suit — Los Angeles and Philadelphia are working on similar programs to stop idling. Pakenham says New York City has made just under $70 million off the program. But catching idlers isn't always easy money. And truck drivers feel "abused" over the program, said Zach Miller, a lobbyist for the Trucking Association of New York. "They find this to be a bounty hunter program," Miller said. When asked if truckers could just cut their engine off as a solution, Miller said, "They do not understand the intricacies of driving a truck in New York City. It is very hard work. There are trucks that have to operate their lift gate 15, 20 times a day." "Drive a truck in New York City for a week, and then come back to me and tell me that's an easy solution," he said. Pakenham still believes it's a major health issue. "Would you like to stand behind a bus for five minutes and breathe? I don't think so. I don't think anyone would." Teen questioned after family's quadruple murder Iranians evacuate capital Tehran, some say the regime is frightened Parents, brother of slain Minnesota lawmaker Melissa Hortman speak about her death
CBS News
2 days ago
- Automotive
- CBS News
New Yorker says reporting idling vehicles through city program makes him over six figures
New Yorker says reporting idling vehicles makes him over six figures New York City — Two years ago, a New Yorker who calls himself "Streeter" left his job in marketing to become a soldier in the war on idling. "Shortly after 6, I'm out on my bike, looking for idling trucks," Streeter said. "I'm essentially biking 6, 7, 8, 9 hours a day." In New York City, it's against the law for trucks and non-city buses to idle — keeping the engine running while stationary — for more than three minutes. However, the law is rarely enforced. That's where the big money comes in for Streeter and others who report idlers. Under the Citizens Air Complaint Program, they can record idling trucks or buses, report them and keep 25% of any fines, which typically range from $350 to $600. Streeter says he makes in excess of six figures reporting idlers. George Pakenham, who's spent much of the last two decades working to clean up the air in New York City, helped make the law happen. "It's a public health issue," Pakenham said. A former Wall Street banker, Pakenham watched his brother, a non-smoker, battle Stage 4 lung cancer. Then he started wondering about the number of vehicles sitting idle and polluting the air. "So I walked up to the limo driver, tapped on the window and said, 'How about just shutting your engine off?' And he did," Pakenham said. He took his frustrations to city legislators. In 2017, they passed the law allowing people to report idling vehicles. Other cities are following suit — Los Angeles and Philadelphia are working on similar programs to stop idling. Pakenham says New York City has made just under $70 million off the program. But catching idlers isn't always easy money. And truck drivers feel "abused" over the program, said Zach Miller, a lobbyist for the Trucking Association of New York. "They find this to be a bounty hunter program," Miller said. When asked if truckers could just cut their engine off as a solution, Miller said, "They do not understand the intricacies of driving a truck in New York City. It is very hard work. There are trucks that have to operate their lift gate 15, 20 times a day." "Drive a truck in New York City for a week, and then come back to me and tell me that's an easy solution," he said. Pakenham still believes it's a major health issue. "Would you like to stand behind a bus for five minutes and breathe? I don't think so. I don't think anyone would."
Yahoo
11-06-2025
- Business
- Yahoo
Pound dips ahead of Rachel Reeves' spending review
The pound slipped 0.1% lower against the dollar on Wednesday morning, trading at $1.3477 at the time of writing, ahead of the UK government spending review. Reeves is due to deliver the spending review at 12h30 BST on Wednesday, when she will set out government departmental budgets for the next few years. The chancellor is expected to unveil a £39bn boost to funding for affordable housing, a £15.6bn investment in public transport, a £11.5bn pledge for the Sizewell C nuclear project, as well as more spending on the national health service (NHS), defence and schools. Susannah Streeter, head of money and markets at Hargreaves Lansdown, said: "Focus will be trained on bond market reaction to chancellor Rachel Reeves' plan to boost capital spending on infrastructure but keep a tighter rein on the day-to-day spending of departmental budgets, while ringfencing funding increases to health and defence." She said that the yields on 10-year and 30-year government bonds, known as gilts, "which are watched closely for any signs of a bond market strop out, have dropped back in recent days." "It may partly be due to a weakening labour market raising hopes that forecasts for more interest rate cuts will stay on track," Streeter said. "But so far, the headlines released about spending commitments appear to have kept investors in UK government debt on side, but details will be dug through, particularly when it comes to capital spending commitments." Read more: Spending review - live: Rachel Reeves expected to unveil more funding for schools, NHS and defence Streeter said that investors were also weighing the World Bank's cut to its global economic growth forecast. The Washington-based lender said on Tuesday it now expected global growth to slow to 2.3% in 2025, which is nearly half a percentage point lower than the rate that had been expected at the start of the year. While the World Bank said a global recession was not expected, it said that if forecasts for the next two years materialised, average global growth for the first seven years of the 2020s would be the slowest of any decade since the 1960s. Streeter said that there was "some optimism" about the outcome of the latest trade talks between the US and China but pointed out this was "largely an agreement to stick to the previous plan for compromise". The US dollar index ( which measures the greenback against a basket of six currencies, hovered around the flatline at 99.11. The pound was also little changed against the euro (GBPEUR=X) on Wednesday morning, trading at €1.1809. Gold prices rose on Wednesday morning, as investors weighed concerns around economic growth and the developments on trade. Gold futures (GC=F) climbed 0.5% to $3,358.40 per ounce at the time of writing, while the spot gold price advanced 0.7% to $3,345.51 per ounce. US and Chinese negotiators said overnight that they had a agreed on a framework deal to restore their trade truce. Read more: FTSE 100 LIVE: Stocks rise as traders await UK spending review and US-China trade update Richard Hunter, head of markets at Interactive Investor, said: "Details of the framework which has been agreed in principle were patchy and in any event yet to be signed off by both presidents. "Chinese exports of rare earth minerals are likely to have been high on the agenda, although at this stage it has not become apparent what China may have negotiated in return," he said. "Even so, the two days of talks represent progress and the hope is now that the more conciliatory momentum can be maintained." Oil prices gained on Wednesday morning, amid signs of progress on US and China trade talks. Brent crude futures (BZ=F) rose 0.3% to $67.09 a barrel, while West Texas Intermediate futures (CL=F) climbed 0.4% at $65.26 a barrel. News of another trade truce between the US and China offered some relief for investors, as concerns that a tariff-induced economic slowdown could impact demand for fuel have weighed on oil prices. Stocks: Create your watchlist and portfolio That said, concerns around economic growth remained in focus, on the back of the World Bank's latest forecasts. Hargreaves Landown's Streeter pointed out that brent crude dipped earlier in Wednesday's session, which came "amid the forecasts of clouds gathering over the global economy". "An industry report from the US Energy Information Administration also indicated there's set to be a larger build up in oil stocks this year, than it expected just a month ago," she said. In broader market movements, the FTSE 100 (^FTSE) was up 0.3% to 8,875 points at the time writing. For more details, on broader market movements check our live coverage here. Read more: The UK's rental boom is over What you need to know about UK's private stock market Pisces Stocks to watch this week: TSMC, Adobe, Tesco, Bellway and InditexError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
20-05-2025
- Business
- Yahoo
UK high street in the spotlight as key data and results cap off earnings season
The UK retail sector is in focus this week, with high street favourites due to report, while economic data should also shed some light on consumer activity. There have been some brighter spots in UK economic data over the past month, with Office for National Statistics (ONS) data released last week showing stronger-than-expected UK economic growth of 0.7% in the first quarter, versus estimates of 0.6%. This was also a marked improvement on the 0.1% growth recorded in the fourth quarter. Meanwhile, separate data from the British Retail Consortium (BRC), also released last week, showed UK total retail sales rose by 7% year-on-year in April, well ahead of the 12-month average growth of 1.4%. The UK retail trade association said the sunniest April on record prompted strong consumer spending, while Easter falling in April this year also helped boost retail sales. "The sun has been shining on the high street in recent months, as the warmer weather has prompted shoppers to spend money entertaining and refresh summer wardrobes," said Susannah Streeter, head of money and markets at Hargreaves Lansdown. "The British Retail Consortium also noted a trend for DIY and garden focused sales, as people spruced up their outdoor spaces." Read more: Five 'buy' rated European travel stocks She said that the Bank of England's recent 0.25% interest rate cut – which lowered the base rate to 4.25% – was "also likely to have helped sentiment among consumers, and with borrowing costs on a downwards, if slow, trajectory, it could help push sales in the right direction in the months to come." "The trade deals signed with the US, India and the EU may also help restore some confidence about the direction of the UK economy, which could increase consumers' appetite to spend," Streeter added. At the same time, she said: "Higher revenues won't translate automatically into better profits for the retail sector. Rising employer taxes, due to increases in national insurance contributions, are likely to weigh on the bottom line." These are all important factors to consider as more high street names report this week, helping round off this latest earnings season, along with the latest UK inflation print due out on Wednesday and ONS retail sales data on Friday. With that in mind, here's more on what to expect. Before diving into this week's retail earnings, it's worth taking stock of performance from the sector so far this season, as a number of major UK retailers have already reported. This includes supermarkets Tesco (TSCO.L) and Sainsbury's (SBRY.L), which both reported in April. Hargreaves Lansdown's Streeter said that Tesco "issued some weak profit guidance for the current year that disappointed the market but given its huge scale and deep-rooted relationships with suppliers, [it is] still in a highly competitive position." Meanwhile, Sainsbury's has been "punching above its weight in the supermarket sector," she said, delivering a good set of full-year results, with revenues growing nearly 2% to £32.8bn and profit after tax up 76.6% to £242m. "Sainsbury continues to scoop up market share, in large part due to a herculean effort to improve products, value perception and innovation more generally," Streeter said. "This should stand it in good stead if price wars do break out, as has been expected, among grocers." Read more: Eurozone inflation to drop below 2% on US tariffs Elsewhere, Primark-owner Associated British Foods (ABF.L), reported half-year results at the end of April. Streeter said that 1% sales growth to £4.5bn "didn't impress investors ... with a weak performance on home soil only offset with expansion overseas." "But there are some sector wide signs that fortunes may have improved as the seasons evolved," she added. Next (NXT.L) posted a better-than-expected first quarter, in results published earlier in May, with full-prices sales up 11.4%, which was £55m ahead of its forecast for the period. "Warm, dry weather also gave clothing a lift, something noted by Next in its latest trading update, although its boss, Lord Simon Wolfson, suggested the sunshine may have pulled forward some demand from later in the year," said Russ Mould, investment director at AJ Bell (AJB.L). Even so, Next raised its guidance for profit before tax for the year by £14m to £1.08bn. Turning to this week's retail releases, Greggs (GRG.L) is due to report on Tuesday morning. While the bakery chain said sales had topped £2bn for the first time and posted record profits in its preliminary annual results in March, the company also reported a further slowdown in sales at the start of the year. "Chief executive Roisin Currie had cited rotten weather in January and February as part of the problem, but that will not stand up this time and Greggs' take on wider high street footfall should be informative," said Mould. "Take-up of the delivery proposition and volumes in the evening will be of particular interest, as will pricing strategies designed to cover wage and input cost inflation in what remains a highly competitive arena, and one where new initiatives such as chicken goujons bring Greggs into areas that are already well served." Much of the market focus this week will be on high street stalwart Marks & Spencer (MKS.L), as it reports in the wake of a cyber attack that left the retailer with some empty shelves in its stores and online orders suspended. Shares in M&S are down 12% over the past month and investors will be keeping a close eye out for any commentary from leadership on how the company is dealing with the fallout of the cyber attack. "M&S looked on track to maintain its hard-won momentum in both food and clothing until the cyber-attack struck," said Mould. "Insurance cover will lessen the immediate financial blow, and management's careful, considered handling of the situation means reputational damage is very limited at the stage. Whether boss Stuart Machin feels able to give much guidance is open to question." M&S is due to report on Wednesday, with analysts forecast a 5% increase in total group sales to £1.38bn, according to AJ Bell. Adjusted pre-tax income is expected to come in at £850m, versus £716m a year ago. Sports apparel retailer JD Sports (JD.L) is also due to report full-year results and offer an update on first quarter performance on Wednesday. The retailer, which sells brands such as Nike (NKE) and Adidas ( gave investors a glimpse into what to expect in a trading update in early April. The company said it had generated 5.8% organic revenue growth for the year, while profit before tax and adjusting items was expected to be in line with guidance of £915m to £935m. JD Sports also indicated that the 2026 fiscal year had gotten off to a solid start, as it said trading to the end of March had been in line with expectations. The company said it expected profit before tax and adjusting items to be in line with consensus estimates, but warned its guidance excluded the potential impact from changes to US president Donald Trump's tariffs. Mould said that JD Sports' share price "still feels linked, for better or worse, to that of Nike and the latest dud outlook statement there, plus one from athleisure provider Lululemon (LULU) leaves questions unanswered about the wider market here. "Consensus estimates have leaked lower, to below £900m on an adjusted pre-tax profit basis for the year to January 2026, even though JD Sports had declared itself happy with the prevailing analysts' view of something around £920m to £940m, or flattish against the fiscal 2025 outturn that will be revealed by these full-year results." On the economic data front, the ONS is slated to release the latest UK consumer price index (CPI) reading – a key measure of inflation – on Wednesday morning. CPI rose by 2.6% in the year to March, which was down from 2.8% in February. The gradual easing of inflation back towards central banks' 2% target has helped cement the Bank of England's (BoE) case for lowering interest rates. However, Deutsche Bank ( senior economist Sanjay Raja said in a note on Friday that despite an "encouraging March report, the April inflation will present the biggest test for the MPC [monetary policy committee] so far this year." He pointed to increases in energy and water bills, as well as to vehicle excise duty, social housing costs, council tax bills (for RPI), air passenger duty, communication bill resets and even a later than usual Easter weekend, as adding to price momentum. However, Raja said that "perhaps the biggest test for the MPC will be how the double whammy" of increases to the national living wage and employer national insurance contributions – announced in the government's autumn budget and took effect in early April – impact price momentum." Read more: Have you ever used financial advice for investing? Vote in our poll "We think food, core goods and some services (particularly, hospitality and leisure) prices will be most impacted," he said. As a result, Deutsche Bank expected a "big step up" in price momentum to start the second quarter, estimating that headline CPI would rise to 3.4% in April. Another key data release from the ONS this week is its April retail sales data, which is due out on Friday morning. March figures, published last month, showed retail sales were estimated to have risen by 0.4%, which was down slightly from 0.7% growth in February. The ONS said clothing and outdoor retailers reported that good weather boosted sales but that this was partly offset by falls in supermarket sales. In a note released on Thursday, Barclays' (BARC.L) investment sciences team said that their data indicated UK consumer spending was up 1.5% year-on-year over the four weeks to 2 May. Stocks: Create your watchlist and portfolio However, they said that the team's machine learning model forecast spending growth to rise by 3.9% year-on-year over the next four weeks. "Across sectors, we forecast digital content, other retail, travel, and leisure to stand out strongest, while motoring (excluding-fuel), hardware & DIY, and home & electronics are forecast to decrease," the Barclays team said. Turning back to the previous month, AJ Bell's Mould said that many consumers may have approached April with "some trepidation, given higher council tax bills, higher water bills and the increased energy price cap. That explains why the GfK consumer confidence reading has largely stalled of late." 'But there is still some good news out there," he added. "The price of oil is weak and that could filter through to the energy price gap come July, while interest rates are slowly coming down and the stronger pound will help put some form of lid on imported inflation. "Increased price competition between the leading supermarkets will be welcome too, while wage growth continues to outstrip inflation quite handily and unemployment remains relatively low." Read more: UK economy grows 0.7% in first quarter of the year Savers making costly 'bad decisions' around pensions as 15 million risk retirement poverty How to tell if you're richSign in to access your portfolio
Yahoo
17-05-2025
- Yahoo
Suspect in RICO theft, forgery released to home detention, GPS monitoring
A 62-year-old former Rock Island County employee who faces felony charges has been released on pretrial conditions, according to Rock Island County Court records. Rock Island County Court documents show Leisa Streeter faces charges of theft/control intent over $500,000-$1 million, theft of more than $100,000 school/worship, forgery/issue/deliver document, conduct transaction over $500,000, and three charges of official misconduct/forbidden act. Theft/more than $100,000/school/worship is a Class X felony, according to Rock island County Court records. A Class X felony is the most serious type of felony in Illinois. Upon conviction, it carries a mandatory prison sentence of six to 30 years, with potential for extended sentences under certain aggravating circumstances. Streeter, who was transported from Mercer County Jail to Rock Island County Jail, appeared in court Friday, when she was advised of her charges, rights and penalties, Rock Island County Court records show. Additionally, she was appointed a public defender and released with pre-trial conditions, home detention and GPS (that stands for Global Positioning System, a satellite-based radio-navigation system that can determine a user's location.) The state filed a petition to deny pretrial release, but the petition was denied, court documents show. Streeter is scheduled for a preliminary hearing May 27 in Rock Island County Court. A longtime employee, an investigation Streeter was a longtime Rock Island County employee, according to a joint news release from Rock Island County State's Attorney Dora Villarreal and Rock Island County Sheriff Darren Hart. The Rock Island County Sheriff's Office Criminal Investigation Division, along with assistance from the Illinois State Police Special Investigations Unit, executed a criminal search warrant at a New Windsor residence, As a result, Streeter was arrested on charges of theft, theft of government property, forgery, money laundering and three counts of official misconduct, the release shows. Streeter first was transported to the Mercer County Jail and then to Rock Island County Jail. 'Financial irregularities' and an investigation In September of 2024, the Rock Island County Probation Department and Treasurer's Department discovered 'financial irregularities' after Streeter retired. Their concerns were brought to the attention of the Rock Island County States Attorney's Office, who then contacted the sheriff's office to investigate the matter further. 'Given the complexity of the case, the sheriff's office requested additional assistance from the Illinois State Police Special Investigations Unit, who specialize in financial and public corruption cases, along with an outside forensic auditing firm,' the release shows. The release shows that Streeter was a 34-year employee of Rock Island County when she retired in June of 2024. From 2003 to 2024, Streeter worked as the administrative assistant to the director of court services for Rock Island County Probation. According to the release, evidence shows, in 2003, Streeter – without authorization – forged documents and opened a fraudulent bank account for her sole personal use under the name 'Rock Island County VIP.' Streeter then funneled fraudulent payments through this account she controlled on the appearance of official services rendered under the Rock Island County Victim's Impact Program. A forensic audit showed from the time this account was opened through June of 2024, Streeter is alleged to have made in excess of $900,000 in financial withdrawals. Streeter used these funds to pay for personal expenses, to include credit card bills, cash withdrawals, loan payments, food, entertainment, merchandise, travel, transportation, and other miscellaneous expenses, according to the news release. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
