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Europe’s banks could survive a drastic economic downturn, stress test shows

Published Wed, 26 Feb 2025 14:23:51 GMT

FRANKFURT, Germany (AP) — Europe’s banking sector could withstand a severe economic downturn without depleting their financial buffers against losses, the European Central Bank said Friday.A survey of 98 large and medium-sized banks done by the ECB’s supervisory arm in conjunction with the European Banking Authority showed that even in the most adverse scenario — a fall of almost 10% in economic outpoint over three years — banks would still have enough capital to cover losses and then some. The stress test was not a pass-fail exercise for banks in the 20 countries that use the euro currency. Rather, results for individual banks will be used by banking regulators in determining how much capital they need to hold in reserve.Banks are crucial to the European economy because companies get most of their financing from them, instead of from financial markets — the opposite of the situation in the U.S. The ECB took over supervision of the biggest banks after the eurozone debt c...

IOC assures Ukraine fencer of Paris Games spot after DQ for not shaking hands with Russian opponent

Published Wed, 26 Feb 2025 14:23:51 GMT

GENEVA (AP) — The IOC assured Ukrainian fencer Olga Kharlan on Friday that she will have a place at the Paris Olympics next year after she was disqualified from a key ranking event for refusing to shake hands with a Russian she had beaten.In a letter to Kharlan, International Olympic Committee president Thomas Bach said it would make a “unique exception” by allocating her an extra place to ensure she competes in Paris.“It is admirable how you are managing this incredibly difficult situation,” wrote Bach, who like Kharlan is a former Olympic champion in a fencing team event. Each Olympic sport has a strict quota for athletes within the IOC-imposed 10,500 overall total at the Summer Games in Paris.A protected entry for the 32-year-old Kharlan, a four-time Olympic medalist, has now been found after controversy over her disqualification at the world championships on Thursday marred the event at Milan, Italy.The incident between Kharlan and her Russian opponent — Anna Smirnova, who was c...

Police officer reaches milestone in recovery from critical wounds in Louisville bank shooting

Published Wed, 26 Feb 2025 14:23:51 GMT

LOUISVILLE, Ky. (AP) — Flashing a thumbs-up to his well-wishers, a police officer who was critically wounded while responding to a mass shooting at a Louisville bank in April was discharged from the hospital on Friday after enduring multiple surgeries and intensive therapy.Louisville Metro Police Officer Nickolas Wilt now gets to sleep in his own bed and enjoy the steak dinner he requested, his brother Zack Wilt told reporters.Nickolas Wilt was shot in the head during the deadly shooting on April 10 at Old National Bank in downtown Louisville. He has a “long road” ahead of him in his recovery, but he’s shown steadfast resilience and determination every step of the way, his brother said. The officer’s favorite catch-phrase during his rehabilitation: “Let’s boogie-woogie.”“He wants to get back to it,” Zack Wilt said shortly before his brother’s discharge from Frazier Rehabilitation Institute, an acute rehab hospital in Louisville. “He was a 26-year-old, v...

LIVE meteorologist Q&A: Friday's heat advisories, warnings and severe weather risk

Published Wed, 26 Feb 2025 14:23:51 GMT

CHICAGO WEATHER LIVE — Most of the Chicago area is currently under a heat advisory or excessive heat warning, while all of the region sits in an enhanced risk for severe weather.WGN meteorologist Demetrius Ivory is taking the time to take your questions on WGN's interactive, weather-centric livestream Chicago Weather Live. It will begin at 1 p.m. within this story, hosted by WGN News Now's Chip Brewster. Friday Forecast: Dangerous heat, evening storms likely Have a weather-related question for Demetrius? Send it in during the show through the form below and we'll do our best to get you an answer.Submit a form.

Friday Forecast: Dangerous heat, evening storms likely

Published Wed, 26 Feb 2025 14:23:51 GMT

CHICAGO — Thunderstorms moved through the Chicago area Friday morning, with more rounds for potentially severe weather in the forecast in the evening. LIVE meteorologist Q&A: Friday’s heat advisories and severe weather risk A risk for severe storms is possible in the late afternoon and evening hours, along with hot and humid conditions. High tempertures reach 96 degrees. Interactive Radar: Track showers and storm here The latest warnings and advisories issued:A Heat Advisory is in effect across the area until 9 p.m. and an Excessive Heat Warning has been issued for 9 p.m. for the areas in pink. An Air Alert Advisory has been issued until midnight across the area.Mostly cloudy conditions are expected tonight with a severe storm threat between 4 p.m. and midnight. Damaging winds and hail are possible. Low temperatures hit 71 degrees.SATURDAY FORECAST: Morning thunderstorm chance, decreasing clouds, N 5-15. High: 81/77The City of Chicago Of...

An East Coast seafood restaurant is coming to Chicago

Published Wed, 26 Feb 2025 14:23:51 GMT

CHICAGO — A taste of New England will be coming to Chicago in the next few months - and they're moving into a very visible location. Legal Sea Foods, which is based in Boston and has locations on the East Coast, will be opening its first restaurant in downtown Chicago this winter. They'll be at 315 N. Dearborn Street in the space that was previously occupied by Dick's Last Resort, overlooking the Chicago River. No official opening date was given by the company. The restaurant will feature two levels with indoor and outdoor dining above the river along with a few private dining rooms. Legal Sea Foods will be located next to Smith and Wollensky, which is owned by its parent company PPX Hospitality Brands. This comes after they established a "virtual kitchen" at that restaurant in 2020 to gauge interest in the brand. Naturally, there was enough to open up a brick-and-mortar restaurant in the city. "We are thrilled to bring Legal Sea Foods to Chicago," said Legal Sea Foods president and...

Tim McGraw bringing 'Standing Room Only' tour to Chicago

Published Wed, 26 Feb 2025 14:23:51 GMT

CHICAGO — Country music singer Tim McGraw announced Friday his 2024 "Standing Room Only" tour.The 33-city tour will kick off in March of next year — and includes a stop at Chicago's United Center on May 31.FULL LIST OF TOUR DATES HEREThe "Standing Room Only" arena tour, which is named after McGraw's upcoming album, will feature special guest Carly Pearce.Tickets are set to go on sale on Aug. 4 at 10 a.m. on LiveNation.com. Fans can go to timmcgraw.com to sign up for notifications.

United Airlines pilot has license suspended after turning up drunk to work

Published Wed, 26 Feb 2025 14:23:51 GMT

(The Hill) – A court in France sentenced a United Airlines pilot to a six-month suspended prison term and one-year suspended license for showing up to work intoxicated Tuesday, local media outlets reported. The pilot, reportedly a 63-year-old American, referred to only as “Henry W.” in French media, showed up to work at Paris’s Charles de Gaulle Airport with a blood alcohol content three times the legal limit for pilots in Europe. According to an emailed statement by United sent to The Hill, the flight was headed to Washington Dulles International Airport, despite other reports it was going to Dallas.“The safety of our customers and crew is always our top priority,” the United statement said. “We hold all our employees to the highest standards and have a strict no-tolerance policy for alcohol. This employee was immediately removed from service and we are fully cooperating with local authorities.”According to a post on X, formerly known as Twitter, by the National Gendarmerie, a...

Mother of Robb Elementary victim to run for Uvalde mayor

Published Wed, 26 Feb 2025 14:23:51 GMT

Editor's Note: The video above shows KXAN Live’s top headlines for July 28, 2023UVALDE, Texas (Nexstar) — Kimberly Mata-Rubio, whose daughter Lexi was killed last year in the Robb Elementary School shooting, is planning to turn her grief into action, after announcing Thursday she will run for Uvalde mayor in an upcoming special election.“This past year, it's been so frustrating navigating our country's political system, and sometimes you have to be the change you seek. So, here I am running for mayor,” Rubio told Nexstar.The 34-year-old mother is looking to fill the soon-vacant seat held by Uvalde Mayor Don McLaughlin in an upcoming special election on Nov. 7. McLaughlin has served as the small, South Texas town’s mayor since 2014 and has reached his term limit. He is now running to succeed Rep. Tracy King, D-Uvalde, in the Texas House. Mata-Rubio made the announcement Thursday on social media. In a post, she wrote to her daughter Lexi — who was one of the 21 people killed...

Austin Fire Department awarded $210,000 FEMA grant

Published Wed, 26 Feb 2025 14:23:51 GMT

AUSTIN (KXAN) -- The Austin Fire Department was recently awarded a grant from the Federal Emergency Management Agency, or FEMA, to help replace fitness equipment at fire stations. FEMA awarded AFD the Assistance to Firefighters Grant of $210,000 to be provided over two years for the replacement of station fitness equipment and Per- and Polyfluoroalkyl Substances (PFAS) testing.The grant covers the following expenses:• Treadmills ($75,000)• Stairmills ($42,000)• Rowers ($12,000)• Barbells and bumper plates ($21,000)• PFAS blood tests for 100 members ($60,000)AFD said in a release the replacement of training equipment would extend budget funds and reduce maintenance costs, plus it would improve access to functioning fitness equipment. AFD said it would assess each station to identify which ones have equipment that would need to be replaced soon. PFAS testing will help in the identification and reduction of cancer risk, AFD said. According to the Centers for Disease Control and Prevent...