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Asian shares mixed after Wall Street logs more gains

Published Sat, 22 Feb 2025 08:40:26 GMT

BANGKOK (AP) — Asian shares were mixed on Monday after stocks on Wall Street shook off a weak start to end higher on Wall Street last week despite persisting worries over banks on both sides of the Atlantic.U.S. futures and oil prices were higher after the Federal Deposit Insurance Corp. said it agreed to the sale of troubled Silicon Valley Bank to North Carolina-based First-Citizens Bank & Trust Co. The FDIC took over Silicon Valley Bank after it collapsed on March 10, promising to protect all depositors. The acquisition could raise confidence in the troubled banking industry after failures at SVB and two other banks rattled investors, driving lenders’ share prices sharply lower. But concerns persist that higher interest rates that are squeezing lenders could increase the likelihood of a recession. The troubles in the banking industry also have added to uncertainty about policies of the Federal Reserve and other central banks. “This is keeping financial stocks pressured w...

Opposition to Netanyahu plan mounts as unions launch strike

Published Sat, 22 Feb 2025 08:40:26 GMT

TEL AVIV, Israel (AP) — Israel’s largest trade union group launched a strike across a broad swath of sectors Monday, joining a surging protest movement against Prime Minister Benjamin Netanyahu’s plan to overhaul the judiciary — a plan that is facing unprecedented opposition. The strike by the Histadrut umbrella group, which represents more than 700,000 workers in health, transit and banking, among many other fields, could paralyze large parts of Israel’s economy, which is already on shaky ground, ratcheting up the pressure on Netanyahu to suspend the overhaul.The growing resistance to the plan came hours after tens of thousands of people burst into the streets around the country in a spontaneous show of anger at Netanyahu’s decision to fire his defense minister after he called for a pause to the overhaul. Chanting “the country is on fire,” they lit bonfires on Tel Aviv’s main highway, closing the throughway and many others throughout the country for hours.Th...

Strike over pay paralyzes rail, air travel in Germany

Published Sat, 22 Feb 2025 08:40:26 GMT

BERLIN (AP) — Trains, planes and public transit systems stood still across much of Germany on Monday as labor unions called a major one-day strike over salaries in an effort to win inflation-busting raises for their members.The 24-hour walkout also affected cargo transport by rail and ship, as workers at the country’s ports and waterways joined the strike.Many commuters opted to drive, causing delays on the roads, while those who could worked from home.Unions are seeking a pay increase of at least 10.5% and have dismissed offers from employers of 5% in two stages plus one-off payments.Labor strikes are a regular occurrence in Germany and normally end in a compromise deal between unions and employers.The walkout already caused disruption and delays Sunday, as travelers scrambled to reach their destinations early.The Associated Press

Saudi National Bank chair resigns after Credit Suisse storm

Published Sat, 22 Feb 2025 08:40:26 GMT

DUBAI, United Arab Emirates (AP) — The chairman of Saudi National Bank resigned for “personal reasons” after his comments on Credit Suisse sent that firm’s stock cratering, a regulatory filing in the kingdom said Monday. The filing on Riyadh’s Tadawul stock exchange announced Ammar al-Khudairy’s resignation from Saudi National Bank. It dated his resignation as coming on Sunday. Shares of Credit Suisse sank over 30% after al-Khudairy announced March 15 that its biggest shareholder — the Saudi National Bank — would not provide more money to the Swiss lender. Hours later, Switzerland’s central bank agreed to lend Credit Suisse up to 50 billion francs ($54 billion) to shore up its finances.Swiss authorities later cut a deal with its bigger rival UBS to acquire troubled Credit Suisse at a marked-down price.The Associated Press

Man suing Gwyneth Paltrow to testify in Utah ski crash trial

Published Sat, 22 Feb 2025 08:40:26 GMT

PARK CITY, Utah (AP) — The man suing Gwyneth Paltrow over a 2016 collision at one of the most upscale ski resorts in North America is expected to take the stand on Monday as the closely watched trial goes into its second week in Utah.Attorneys said Friday that retired optometrist Terry Sanderson, 76, would likely testify first on Monday, before his attorneys rest and hand the courtroom over to Paltrow’s defense team to make their case. Paltrow’s attorneys are expected to call her two children — Moses and Apple — and a ski instructor who was present the day of the collision.Sanderson is suing Paltrow for more than $300,000, claiming she skied recklessly into him from behind, breaking four of his ribs and head trauma that post-accident manifested as post-concussion syndrome. Paltrow has countersued for $1 and attorney fees, alleging that Sanderson was at fault and veered into her from behind in a — first gradual and then sudden — crash.After Paltrow testified Friday that t...

Amid strained U.S. ties, China finds unlikely friend in Utah

Published Sat, 22 Feb 2025 08:40:26 GMT

SALT LAKE CITY (AP) — China’s global campaign to win friends and influence policy has blossomed in a surprising place: Utah, a deeply religious and conservative state with few obvious ties to the world’s most powerful communist country.An investigation by the Associated Press has found that China and its U.S.-based advocates spent years building relationships with the state’s officials and lawmakers. Those efforts have paid dividends at home and abroad, the AP found: Lawmakers delayed legislation Beijing didn’t like, nixed resolutions that conveyed displeasure with its actions and expressed support in ways that enhanced the Chinese government’s image.Its work in Utah is emblematic of a broader effort by Beijing to secure allies at the local level as its relations with the U.S. and its western allies have turned acrimonious. U.S. officials say local leaders are at risk of being manipulated by China and have deemed the influence campaign a threat to national security.Beijing’s success...

Deputies accused of shoving guns in mouths of 2 Black men

Published Sat, 22 Feb 2025 08:40:26 GMT

BRANDON, Miss. (AP) — Several deputies from a Mississippi sheriff’s department being investigated by the Justice Department for possible civil rights violations have been involved in at least four violent encounters with Black men since 2019 that left two dead and another with lasting injuries, an Associated Press investigation found.Two of the men allege that Rankin County sheriff’s deputies shoved guns into their mouths during separate encounters. In one case, the deputy pulled the trigger, leaving the man with wounds that required parts of his tongue to be sewn back together. In one of the two fatal confrontations, the man’s mother said a deputy kneeled on her son’s neck while he told them he couldn’t breathe. Police and court records obtained by the AP show that several deputies who were accepted to the sheriff’s office’s Special Response Team — a tactical unit whose members receive advanced training — were involved in each of the four encount...

A steel plant ready for war shows hit to Ukraine’s economy

Published Sat, 22 Feb 2025 08:40:26 GMT

ZAPORIZHZHIA, Ukraine (AP) — Flak jackets are piled up at Ukraine’s Zaporizhstal steel plant, and anti-tank traps guard the entrance. Whenever air raid sirens sound — and they go off every day — most workers head to one of the 16 bomb shelters scattered across the sprawling grounds.But some keep working — braving not only the intense heat and sparks flying from blast furnaces forging steel used in everything from railway cars to household appliances, but the threat of shelling — to keep the molten metal moving.The southwestern city of Zaporizhzhia, which gives the plant its name, is less than 50 kilometers (31 miles) from the front line and its residential buildings and energy infrastructure are a frequent Russian target. The impact of the war has left the plant running below full capacity, with a third of its 10,000 workers idle.The damage to Ukraine’s metal industry has crippled a lucrative sector and key employer needed to support an economy cratered by war. Efforts to restore pr...

Myanmar army leader calls for decisive action to crush foes

Published Sat, 22 Feb 2025 08:40:26 GMT

BANGKOK (AP) — As Myanmar’s military put on an annual show of strength Monday, its top leader told its assembled ranks they need to take decisive action against those fighting army rule of the country. Senior Gen. Min Aung Hlaing spoke at a military parade on Armed Forces Day. At sunrise, members of all service branches marched in mass formations onto a huge parade ground in the capital, Naypyitaw, backed by armored vehicles, missiles and artillery as well as fighter jets and helicopters flying overhead. Myanmar’s military has been accused of indiscriminate killings of civilians as it engages in major offensives to suppress the armed resistance opposed to its takeover of the government two years ago. Min Aung Hlaing in his speech said those who condemned his military government demonstrated indifference to the violence committed by its opponents.Armed Forces Day marks the anniversary of the start of a 1945 uprising of a ragtag army against occupying Japanese forces. The country then...

Severe Weather, Precipitation and Drought Update

Published Sat, 22 Feb 2025 08:40:26 GMT

Weather Service office in Chicago said they received around three dozen reports of hail, most of which were close to the I-80 corridor stretching from LaSalle County, IL to Porter County, IN.  Hail as small as peas was reported, but there were some locations that saw hail at least the size of quarters.  Sheridan in LaSalle County and Shorewood in Kendall County reported hail the size of half dollars.  As of 9PM there was one report of wind damage in southern Porter County, IN where thunderstorm winds snapped wooden powerline poles around 5:45 Sunday evening.  As we enter the season of spring, some good news for Illinois and Chicagoland farmers. Thanks to the soggy conditions in February and March, there's no drought conditions anywhere in the state. The same can't be said for many places to our west where exceptional to extreme drought in still in place for much of the Great Plains states. Total ice coverage shrunk from 13.4% to 5.2% in just the past 2 weeks