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Ticker: Stocks fall to cap week driven by fears about banks

Published Wed, 26 Feb 2025 14:18:31 GMT

Wall Street’s week of turmoil closed with drops for stocks. The S&P 500 fell 1.1% Friday, led by declines in First Republic and other banks.The Dow Jones Industrial Average and Nasdaq composite also pulled back. This week has been a whipsaw for global markets as concerns worsen about banks following the second- and third-largest U.S. bank failures in history.The fear is that the trouble for banks caused by fast-rising interest rates could drag the economy into a recession. Treasury yields sank again Friday in part on such fears, along with easing inflation expectations and falling confidence among U.S. households.Elizabeth Holmes returns to court in bid to avoid prisonDisgraced Theranos CEO Elizabeth Holmes has made what might be her final court appearance before beginning a 11-year prison sentence.That’s unless a federal judge grants her request to remain free while her lawyers appeal her conviction for masterminding a blood-testing hoax. The hearing came four months afte...

Column: The Chicago Bears need more from rank-and-file free agents. Robert Tonyan, Andrew Billings and D’Onta Foreman believe they can deliver.

Published Wed, 26 Feb 2025 14:18:31 GMT

The first wave of NFL free agency goes fast, and the majority of the big deals are wrapped up in the negotiating period, which leads to about two weeks of bargain shopping before teams reassess and turn focus to the draft.The Chicago Bears didn’t skip a beat moving from bigger acquisitions such as linebackers Tremaine Edmunds and T.J. Edwards and guard Nate Davis to more modest additions such as tight end Robert Tonyan, nose tackle Andrew Billings and running back D’Onta Foreman, all of whom signed contracts Friday.All figure to be in position to play meaningful roles. Tonyan offers a lot more as a receiver than last year’s No. 2 tight end Ryan Griffin did. Tonyan has the added benefit of knowing the offense as well as any outsider based on his time in Green Bay with offensive coordinator Luke Getsy.Billings, who will earn $3.5 million on a one-year deal, projects as the starter in the base defense, a capable run stuffer that was necessary if the Bears hope Edmunds...

Boston Public Schools takes step forward in merger of Dorchester and Mattapan elementary schools

Published Wed, 26 Feb 2025 14:18:31 GMT

Boston Public Schools took a step forward in the merger of the Pauline A. Shaw and Charles H. Taylor Elementary schools in Dorchester and Mattapan, as parents continued pushback on the district’s merger processes.“I’m excited to share with you tonight our proposal to apply to the 2023 core program for a new facility for a combined short Taylor school in the southern Dorchester and Mattapan area,” said BPS chief of capital planning Delavern Stanislaus said at a meeting last week.“This is a great opportunity to leverage state funding to support the Green New Deal for Boston Public Schools, expand access to inclusive and multilingual education and build on the assets of the Shaw and Taylor by designing a new facility specifically for these communities,” Stanislaus continued.The Shaw-Taylor merger would entail combining the schools across two campuses in the short-term — aiming for the 2024-25 school year — and building a new facility in the long-term...

Gate reopened at Naval Base Coronado following lockdown

Published Wed, 26 Feb 2025 14:18:31 GMT

SAN DIEGO -- Naval Base Coronado went into lockdown Friday night after a driver attempted to plow through the facility’s main gate, a military spokesperson confirmed to FOX 5.Around 10:30 p.m., an individual trying to access the main gate on North Island became aggressive and tried to drive through the entry way, said Naval Base Coronado Public Affairs Officer Kevin Dixon. Bodycam video shows shooting involving deputy in East County Officials say shots were fired during the incident, but the naval base did not specify who fired a weapon during the incident. No injuries were reported.The main gate was briefly placed on lockdown. A post on the Facebook page of Naval Base Coronado early Saturday said, “The main gate at Naval Air Station North Island is currently closed due to a security incident. Please stay away from the main gate while security conducts its investigation.”Military officials told FOX 5 the main gate has since reopened. Dixon said the suspect is in custody. Offi...

Strong earthquake shakes coast of Ecuador; no word on damage

Published Wed, 26 Feb 2025 14:18:31 GMT

QUITO, Ecuador (AP) — A strong earthquake shook Ecuador on Saturday, but there was no immediate word on damage or injuries.The U.S. Geological Survey reported an earthquake with a magnitude of 6.7 in the country’s coastal Guayas region. It was centered about 50 miles (80 kilometers) south of Guayaquil, Ecuador’s second-largest city.More to come.

Supervisor in Tyre Nichols’ death retired before firing

Published Wed, 26 Feb 2025 14:18:31 GMT

MEMPHIS, Tenn. (AP) — The Memphis police supervisor on scene when Tyre Nichols was beaten to death by officers retired with his benefits the day before a hearing to fire him, according to documents filed to revoke his law enforcement certification.Lt. DeWayne Smith was identified Friday in records obtained by media outlets as the officer that officials said earlier this month had retired before his termination hearing. Some Memphis City Council members were upset an officer was allowed to retire before steps could be taken to fire them, including the council’s vice-chairman JB Smiley Jr., who said it didn’t seem fair that the then-unidentified officer could keep pension and other benefits. “I just don’t like the fact that his parents are paying this officer to go on and live and that’s troubling,” Smiley said.The attorney for Nichols’ family said the department should not have let Smith “cowardly sidestep the consequences of his actions” and retire after 25 years.“...

District responds to student’s Pledge of Allegiance lawsuit

Published Wed, 26 Feb 2025 14:18:31 GMT

COLUMBIA, S.C. (AP) — A South Carolina school district said a ninth grader walking in a hallway was stopped during a moment of silence and not the Pledge of Allegiance, as the student had said in a lawsuit filed last month.Marissa Barnwell said she was pushed against the wall by a teacher at River Bluff High School when she didn’t stop to recite the pledge as she walked to class in November, according to her family’s lawsuit.A lawyer for Lexington School District 1 said videos from the hallway shows the teacher touched Barnwell’s shoulder to get her attention but didn’t push her.It also shows the confrontation didn’t take place until after the end of the Pledge of Allegiance — which state law says students can refuse to recite if they are not disruptive — and the start of a moment of silence.Barnwell was not silent, arguing with the teacher until she walked away, the district said.“There would be no prohibition on the school requiring students to stop d...

Reports of violence as Nigeria elects new governors

Published Wed, 26 Feb 2025 14:18:31 GMT

ABUJA, Nigeria (AP) — Millions of Nigerians voted Saturday to elect state governors but faced intimidation and violence in some cities amid heightened tensions following a disputed presidential election in Africa’s most populous nation last month.New governors were being chosen for 28 of Nigeria’s 36 states as the political opposition continues to reject the victory of President-elect Bola Tinubu, who belongs to the ruling All Progressives Congress party. The performance of the Independent National Electoral Commission “has improved considerably compared to the Feb. 25 elections, but violence has been much more intense across the country,” said Idayat Hassan, head of the Center for Democracy and Development, Nigeria’s largest democracy-focused group.Local observer group YIAGA Africa said it found several instances in which voters were intimidated and prevented from voting unless they agreed to cast their ballots for certain political parties. Among the places it listed w...

Republican lawmakers blast potential Trump indictment as 'politically motivated,' 'abuse of power’

Published Wed, 26 Feb 2025 14:18:31 GMT

Republican lawmakers blasted the prospect of former President Trump being indicted after he revealed he expects to be arrested next week, calling the potential move “politically motivated” and an “abuse of power.” House Speaker Kevin McCarthy (R-Calif.) said he would direct relevant committees to investigate if any federal funding is being used to “subvert our democracy by interfering in elections with politically motivated prosecutions.” “Here we go again — an outrageous abuse of power by a radical DA who lets violent criminals walk as he pursues political vengeance against President Trump,” he tweeted, referring to Manhattan District Attorney Alvin Bragg. Condemnations of the potential charges from McCarthy and other Republicans came after Trump posted on Truth Social early on Saturday that “illegal leaks” indicate he will be arrested on Tuesday. Bragg appears to be close to deciding on whether to file charges against Trump after having invited the former presi...

Texas leads the country in combined wind, solar renewable energy

Published Wed, 26 Feb 2025 14:18:31 GMT

AUSTIN (KXAN) — There's a certain pride exhibited by Texans when it comes to living here. For example, Lone Star State denizens can be proud of the fact that there were more jobs created in 2022 in Texas than in any of the other 49 states. Now, Texans who are working to save the planet take pride that Texas leads the country in the generation of renewable energy according to a report issued by the United States Energy Information Administration. Not California. Texas. Wind energy is the biggest reason that Texas leads in the creation of sustainable energy. And, it likely won't be too long before this state overtakes California in solar power.Texas leads the country in wind-focused renewable energy Courtesy: Getty ImagesTexas more than doubled what California produced in renewable energy last calendar year. The gap will only widen in the next few years as our state looks for continued increases in solar power harnessing. The numbers? Texas created over 136,000 gigawatt-hours...