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Markets shudder on fears about a global banking crisis

Published Tue, 25 Feb 2025 12:00:33 GMT

NEW YORK (AP) — Worries about a spreading banking crisis and how badly it will hit the economy sent shudders through markets Wednesday, with stocks and bond yields tumbling on both sides of the Atlantic. The S&P 500 was 1.1% lower in late trading, while markets in Europe fell more sharply as shares of Switzerland’s Credit Suisse dropped to a record low. The Dow Jones Industrial Average was down 415 points, or 1.3%, at 31,739 as of 3:10 p.m. Eastern time after earlier being down as many as 725 points. The Nasdaq composite was 0.2% lower after trimming a big earlier loss.Credit Suisse has been fighting troubles for years, including losses it took from the 2021 collapse of investment firm Archegos Capital. Its shares in Switzerland sank 24.2% following reports that its top shareholder won’t pump more money into its investment. “They’ve had issues,” said Anthony Saglimbene, chief market strategist at Ameriprise. “It’s just coming at a time when there’s more uncertainty a...

Alabama’s Brandon Miller has security guard due to threats

Published Tue, 25 Feb 2025 12:00:33 GMT

BIRMINGHAM, Ala. (AP) — Alabama star Brandon Miller was accompanied by an armed security guard to the NCAA Tournament on Wednesday because of threats directed his way, Crimson Tide coach Nate Oats said. “If you guys saw some of what I’ve seen sent his way, I think you would understand why that’s the case,” Oats said of the extra protection that the school lined up for Miller. “I don’t want to get into all that. The entire situation, as you know, is just a heartbreaking situation on all accounts.”Miller name surfaced last month in court testimony involving the capital murder case of former Alabama player Darius Miles and another man, who are charged in the fatal shooting of 23-year-old Jamea Harris on Jan. 15.A police officer testified that Miles texted Miller asking him to bring Miles’ gun in the early morning hours of the shooting. Fellow freshman starter Jaden Bradley was also at the scene. Neither Miller nor Bradley has been accused of any crime, and the university has described ...

NBA suspends Ja Morant 8 games for having gun in video

Published Tue, 25 Feb 2025 12:00:33 GMT

MIAMI (AP) — The NBA suspended Memphis Grizzilies guard Ja Morant eight games without pay on Wednesday after determining that his displaying a firearm at a club in suburban Denver earlier this month was “conduct detrimental to the league.”Morant will miss his sixth game when the Grizzlies play in Miami on Wednesday night. He will miss the next two games and be eligible to return on Monday when Memphis plays Dallas.The games he already missed will count toward the suspension, and Morant will forfeit about $669,000 in salary.“Ja’s conduct was irresponsible, reckless and potentially very dangerous,” NBA Commissioner Adam Silver said in a statement. “It also has serious consequences given his enormous following and influence, particularly among young fans who look up to him.”Silver met with Morant in New York before announcing the league’s decision. The Grizzlies had no immediate comment; coach Taylor Jenkins is scheduled to hold his standard pregame availability Wednesday evening in Mi...

Garcetti confirmed as India ambassador after 20-month fight

Published Tue, 25 Feb 2025 12:00:33 GMT

WASHINGTON (AP) — Former Los Angeles Mayor Eric Garcetti was confirmed Wednesday by a divided Senate as the nation’s next ambassador to India, 20 months after he was first nominated by President Joe Biden and after weathering doubts about his truthfulness in a sexual harassment scandal involving a top adviser during his time at City Hall.The 52-42 vote gave the administration a long-sought victory in filling one of the country’s highest profile diplomatic posts. The president “believes that we have a crucial and consequential partnership with India and that Mayor Garcetti will make a strong and effective ambassador,” White House spokesperson Olivia Dalton said after the vote.The session began with uncertain prospects for Garcetti, a two-term, progressive Democrat first nominated to the prominent diplomatic post by President Joe Biden in July 2021. With several Democratic defections, Garcetti’s fate rested with enlisting Republicans in a chamber often divided along partisan lin...

Review: Tomlin, Fonda anchor darkly comedic ‘Moving On’

Published Tue, 25 Feb 2025 12:00:33 GMT

The on-screen pairing of Jane Fonda and Lily Tomlin is not exactly a novelty at the moment. Seven seasons of “Grace and Frankie” and the movie “80 for Brady” has, perhaps, spoiled us a little lately. And, unfortunately, second-act movies with Hollywood legends have a very hit or miss track record (sorry “Queen Bees” and “Poms”). But don’t let either of those facts dissuade you from trying out “ Moving On,” which was written and directed by Paul Weitz (“Grandma,” “About a Boy”) and opens in theaters this weekend. This is one of those rare films that balances a darkly comedic conceit with authentic, emotional resonance, allowing Fonda, Tomlin and co-stars Malcolm McDowell and Richard Roundtree to actually act rather than be demeaned by cheap caricatures of senior citizens. It begins with a funeral. We never meet the deceased, but it brings the main characters back together again for the first time in a long time. Fonda is Claire, a devoted dog mom and grandmother to uninterested teens...

'A shock': Father devastated after single mother killed while pushing stalled vehicle in suburbs

Published Tue, 25 Feb 2025 12:00:33 GMT

BOLINGBROOK, Ill. — A father is devastated and worried about the future of his grandchildren after their mother was struck and killed while pushing her stalled vehicle last month in Bolingbrook."This is the worst thing that's ever happened in my life," Bob Cawthon told WGN News Wednesday.Back on Feb. 22, his daughter 30-year-old Jenna Cawthon, of Bolingbrook, was on her way to work when at some point, her car stalled near 107th Street and Joliet Road."She was a 'can do' person, so she attempted to push her car out of the way," Cawthon said. "A good Samaritan looked and said 'hey she needs help.'"According to a police report Cawthon saw, the witness performed a U-turn, got out of his vehicle and as he was crossing the street to help — Jenna was struck from behind and killed.Her father, who lives near Pittsburgh now, received the phone call nobody wants to get."'Your daughter has passed,' I was like, 'what?'" Cawthon said. "It was a shock." 1 dead, another seriously injured after he...

CPD: 10 armed robberies conducted in under 2 hours on Southwest Side

Published Tue, 25 Feb 2025 12:00:33 GMT

CHICAGO — Ten armed robberies were conducted in just under two hours Wednesday morning on the Southwest Side.A victim was pistol-whipped in one of the robberies. Police did not give additional information on the suspects, other than saying two were involved and they are not in custody.In one of the incidents, the suspects returned to the exact same block around an hour later and conducted another armed robbery. Alert issued after 2 liquor stores broken into, cash stolen on Northwest Side The following is a timeline of the incidents, per Chicago police.6:02 a.m. in the 4600 block of South Albany — A 49-year-old man was in a parked vehicle when two suspects exited a black sedan and robbed him at gunpoint.6:03 a.m. in the 2400 block of West 47th Street — A 37-year-old man was robbed and pistol-whipped. He denied treatment at the scene.6:06 a.m. in the 1700 block of West 47th Street — A 51-year-old man was robbed at gunpoint.6:07 a.m. in the 4300 block of South Archer — No further inf...

Illinois bill would make driving with pet in your lap illegal

Published Tue, 25 Feb 2025 12:00:33 GMT

SPRINGFIELD, Ill. (WCIA) – If you drive with your pet on your lap, it could soon be against the law in Illinois.A bill in the State Capitol would make it a petty offense for drivers caught on the road with a pet on their lap, and they could face a $50 fine.Deana Corbin, the executive director of the Springfield animal shelter Animal Protective League, said it could be dangerous for people to have their pet sit on their lap while they drive.“If you get in an accident, and that pet isn't restrained, it could fly out of the car, it could get crushed against your steering wheel,” Corbin said.It’s not just a safety concern for the pet, but for the driver too, Corbin warns. Opening statements delivered in ComEd bribery trial “If you have more than one animal in your car, sometimes they'll react to each other and if they get in a fight in the car, then you're more worried about taking care of them and if you happen to glance back or something then you can get in an accident yourself,” Co...

Helicopter crashes at California airport; multiple others broken into

Published Tue, 25 Feb 2025 12:00:33 GMT

(KTXL) -- Multiple helicopters were broken into and one was operated before crashing on Wednesday morning at the Sacramento Executive Airport, according to the Sacramento Police Department. Police said they received several reports of multiple helicopters being broken into early Wednesday morning.Officers that responded found a helicopter with major damage that "appeared to have been operated," police said in a statement. There are currently no reported injuries from the crash and no one is in custody. "This investigation is in its early stages and this information is preliminary as detectives work to learn exactly what occurred," the statement continued.

Markets shudder on fears about banking crisis, recession

Published Tue, 25 Feb 2025 12:00:33 GMT

NEW YORK (AP) — Worries about a spreading banking crisis and how badly it will hit an already fragile economy caused markets to shudder Wednesday, as stocks fell and bond yields tumbled on both sides of the Atlantic.The S&P 500 was 1% lower in afternoon trading, while markets in Europe fell more sharply as shares of Switzerland’s Credit Suisse dropped to a record low. The Dow Jones Industrial Average was down 324 points, or 1%, at 31,831 as of 2:20 p.m. Eastern time after earlier being down as many as 725 points. The Nasdaq composite was 0.1% lower.Credit Suisse has been fighting troubles for years, including losses it took from the 2021 collapse of investment firm Archegos Capital. Its shares in Switzerland sank 24.2% following reports that its top shareholder won’t pump more money into its investment.“They've had issues,” said Anthony Saglimbene, chief market strategist at Ameriprise. “It's just coming at a time when there’s more uncertainty and there’s less confiden...