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NBA looked at precedent before doling out Clippers’ penalties

NEW YORK (AP) — NBA Commissioner Adam Silver wanted to impose a significant punishment on the Los Angeles Clippers for circumventing salary cap rules, even while understanding the impact it will have on fans hoping to see a winning team. Forfeiting five first-round draft picks might make it difficult for the Clippers to deliver one. "I don't think in any way we've done permanent damage to this franchise. No question, this is a setback for the team," Silver said Tuesday. "The ultimate goal in terms of these type of sanctions is to ensure that other teams don't engage in this type of ...

Week 1 losses not end of world in NFL

(AP) — With a nearly seven-month wait since the Super Bowl for meaningful NFL games, it's only natural for Week 1 to fuel some overreactions. What happened last season was the latest example of why that might not be wise. The Seattle Seahawks won the title against the New England ...

Kiffin returns to Ole Miss for top-10 showdown

(AP) — The nearly 10-month wait for Lane Kiffin's return to Oxford is almost over. No. 7 LSU at No. 8 Mississippi would be the nation's game of the week under normal circumstances, this being the first top-10 matchup between the teams since 1962. There has been nothing normal about the ...

NHL teams begin sprint to regular season

(AP) — Players around the NHL step on the ice Thursday, right around the same time of year training camps usually open up. Only this time, opening night is less than two weeks away. "It's quick," Philadelphia's Jamie Drysdale said. "It's going to be really fast." This is the new normal ...

Federal Reserve hikes key rate for 1st time in 3 years, defying Trump demands for a cut

WASHINGTON (AP) — The Federal Reserve raised its benchmark interest rate Wednesday for the first time since 2023 in an effort to quell stubbornly-high inflation and the central bank also signaled that another rate hike could occur later this year. The quarter-point increase lifts the Fed's key rate to about 3.9% and, over time, could result in higher borrowing costs for mortgages, auto loans, and credit cards. In a set of quarterly projections, the Fed also signaled that its rate-setting committee could hike rates a second time to 4.1%. The move comes as Americans are already ...

US stocks slip after the Fed hikes interest rates and hints more increases may be on the way

NEW YORK (AP) — U.S. stocks slipped Wednesday after the Federal Reserve hiked its main interest rate for the first time in three years and suggested more may be ahead as it tries to get the nation's high inflation under control. The S&P 500 fell 0.4% after giving up a modest gain from earlier in the day. The Dow Jones Industrial Average dropped 631 points, or 1.2%, and the Nasdaq composite was nearly unchanged after edging down by less than 0.1%. Investors generally prefer lower interest rates because higher rates slow the economy's growth and undercut prices for stocks and other ...