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Nothing to see here: EU shrugs off Silicon Valley Bank collapse

Published Wed, 26 Feb 2025 18:04:52 GMT

It may be the largest banking collapse since the 2008 financial crisis but for the EU it’s somebody else’s problem.The failure over the weekend of America’s Silicon Valley Bank, which had assets of $200 billion, has prompted fears of wider meltdown, with share prices plummeting and U.S. agencies scrambling to contain the fallout and prevent runs on other lenders.In the European Union, it’s very definitely seen as something that’s happening to other people.“At the EU level, there is very limited presence of Silicon Valley Bank,” Valdis Dombrovskis, executive vice president of the European Commission, said Tuesday. “We are in touch with the relevant competent authorities, but we don’t expect much of a spillover effect.”His was just the latest in a series of chilled-out comments from leading EU figures as they looked on while the financial blowup raged.“I don’t see any risk of contagion,” French Finance Minister Bruno Le Maire said on Monday. “We are monitoring the si...

On eve of safety summit, FAA investigates another runway close call

Published Wed, 26 Feb 2025 18:04:52 GMT

(CNN) — The Federal Aviation Administration is investigating yet another close call between commercial airliners, this time at Reagan National Airport near Washington, DC — the seventh since the start of this year.On March 7, Republic Airways Flight 4736 crossed a runway, without clearance, that United Airlines Flight 2003 was using for takeoff, according to a preliminary review, the FAA said. The United pilot had just been cleared for takeoff from the runway, the agency said.“An air traffic controller noticed the situation and immediately canceled the takeoff clearance for the United flight,” the FAA said.Recordings accessed from LiveATC.net show air traffic controllers in the tower exclaiming, “United 2003 cancel takeoff clearance!” The crew of the United flight responded, “Aborting takeoff, United 2003.”The pilot of the Republic flight had been cleared to cross a different runway, “but turned on the wrong taxiway,...

Cornerback Trayvon Mullen reportedly returning to Ravens on one-year deal

Published Wed, 26 Feb 2025 18:04:52 GMT

Trayvon Mullen will be returning to the Ravens next season.The 25-year-old cornerback — who was claimed off waivers from the Dallas Cowboys in January and is a cousin of quarterback Lamar Jackson’s — has agreed to a one-year deal, his agent Kevin Conner confirmed to NFL Network on Tuesday. No other terms were disclosed.“Baltimore know what time it is, my journey not finished” Mullen tweeted Tuesday night.Mullen, a second-round draft pick out of Clemson by the then-Oakland Raiders in 2019, did not appear in any games for Baltimore last season. He did, however, play in eight games for the Cardinals after being traded by the Raiders to Arizona before the season.The Cardinals released Mullen in December and he was claimed off waivers by the Cowboys, suiting up for Dallas in Week 18. He had a combined 16 tackles, a forced fumble and a pass defended between the two teams.Mullen, a 6-foot-2, 200-pound corner who was the Defensive Most Valuable Player of the 20...

Bruins lose to lowly Blackhawks, 6-3

Published Wed, 26 Feb 2025 18:04:52 GMT

Life is not easy for the Bruins these days. Whether their Secretariat-in-the-Belmont lead over the NHL field is dulling their edges or free-and-easy, lesser teams are looking for a nice notch on their belt, the B’s have looked quite pedestrian over the last week.This time it was lowly Chicago Blackhawks who took their shot, and they landed it on the B’s chin, scoring four third-period goals to beat the B’s, 6-3, at the United Center. The B’s gave up prime scoring chances again and, in a rarity, Linus Ullmark did not come up with the stops to cover the blemishes. The B’s have lost two straight and three of their last four.After the B’s took a brief lead in the third period, the Hawks tied it and then Boris Katchouk gave the Blackhawks the lead again at 6:59 of the third period when he deked Derek Forbort in the neutral zone and then beat Ullmark with a wrist shot from the right circle.The B’s thought they’d tied it on a subsequent power...

Body found near US-Mexico border

Published Wed, 26 Feb 2025 18:04:52 GMT

IMPERIAL BEACH, Calif. -- Authorities on Tuesday found a body within the Border Field State Park area in Imperial Beach, officials said.The discovery occurred around 12:24 p.m. when a Border Patrol agent came across the deceased person near the border fence south of the 700 block of Monument, the San Diego County Sheriff's Department stated in a news release. Deputy in East County shooting identified First responders retrieved the body from the flooded area with help from four-wheel drive vehicles and heavy equipment to gain access, according to authorities. Law enforcement says the unidentified body "appeared to be" a man in his 70s.The sheriff's department believes foul play is not suspected in the incident.

Asian stocks higher after Wall St rebounds from bank jitters

Published Wed, 26 Feb 2025 18:04:52 GMT

BEIJING (AP) — Asian stock markets rebounded Wednesday after Wall Street stabilized following sharp declines for bank stocks and U.S. inflation eased but stayed high.Shanghai, Tokyo, Hong Kong and Sydney advanced. Oil prices regained some of the previous day’s sharp losses.Wall Street’s benchmark S&P 500 index rose Tuesday as bank stocks recovered some of their losses caused by worries customers might pull out deposits following the collapse of two U.S. lenders. Stocks rose despite inflation data showing prices rose 6% over a year earlier in February, down from the previous month’s 6.4% but still far above the Federal Reserve’s 2% target. Investors had worried the Federal Reserve might respond to enduring upward pressure on prices by speeding up the pace of interest rate increases.“The anchoring of less hawkish expectations provided some catalyst for risk sentiments to recover,” Yeap Jun Rong of IG said in a report. “There were also no new negative headli...

'I've never had to walk the train tracks': Brown Line train evacuated due to power outage

Published Wed, 26 Feb 2025 18:04:52 GMT

CHICAGO — Rush hour commuters on the CTA Brown Line were evacuated at Wells and Wacker due to a power outage on the tracks, city personnel said Tuesday.Officials with Chicago Fire and CTA said power loss to the third rail near Merchandise Mart caused service to be temporarily suspended between Armitage and the Loop.Because of the several hundred on board, emergency crews led passengers off the train down a catwalk to Merchandise Mart station. No injuries were reported.Chara Nease was among the hundreds of evacuees. She told WGN News that the Brown Line is her regular mode of transportation to her evening workout, boarding the train at State and Lake and departing at Ravenswood. Shortly into her ride, she says the train stopped and the power went out."I heard sirens and at first, I didn't piece together that the sirens were for us," Nease said via a video interview. "But then I realized we had an emergency."As passengers sat in the dark, Nease said the delays grew."(Minimal) delays t...

WGN at 75: Harry Caray, in his own words

Published Wed, 26 Feb 2025 18:04:52 GMT

CHICAGO - For a generation of fans who tuned into Channel 9 for games, he was the voice they would hear every day.Always enthusiastic, he called the games with the passion of those who were watching at home.That's what made Harry Caray special, made him a Baseball Hall of Famer, and a favorite to Cubs and White Sox fans even 25 years after his death.As part of WGN's 75 anniversary, we took some time to hear from the legendary broadcaster himself as he talked about his career in baseball.You can see and hear that in the story above.

WGN at 75: John Paxson reflects on his decades with the Bulls

Published Wed, 26 Feb 2025 18:04:52 GMT

CHICAGO - He was there before the dynasty, during it, and then tried to create his own in the front office of the team.Since the mid-1980s, John Paxson has seen it all when it comes to the Chicago Bulls. He was a guard next to Michael Jordan in his formative years in the NBA through his time becoming one of the best to ever play the game. He was a key part of the Bulls' first "Three-Peat" in the early 1990s, was an assistant briefly for Phil Jackson, then became a broadcaster during the final three titles of the 1990s.In 2003, he took over for Hall of Famer Jerry Krause as the Bulls' general manager and remained in a prominent basketball operations role with the team through 2020. Now he's a senior advisor to basketball operations as the team starts a new era under executive vice president Arturas Karnisovas and Marc Eversely. As we celebrate the 75th anniversary of WGN-TV, who better to visit with to talk about the Bulls than Paxson, as he gives us his perspective on a few memorabl...

Teen saved mother's life when she was on 'death's doorstep,' Ohio doctors say

Published Wed, 26 Feb 2025 18:04:52 GMT

NORTH OLMSTED, Ohio (WJW) — Doctors are crediting an Ohio teenager with helping to save his mother's life after she suffered a medical emergency. Kim Morales of North Olmsted has been a fierce protector of her 15-year-old son, and has fought for Jaxon, who has autism, to receive the best of everything, starting with his education. Jaxon told Nexstar's WJW, "I mean, she means everything to me, she's like the whole world to me, I love her very much and I would not want to be away from her ever." Kim Morales is a Type 1 diabetic and, last week, was feeling sluggish and asked her son to get her snacks and juice. A short time later, Jaxon noticed that his mom seemed to be unresponsive. Zebra bites Ohio man’s arm before being put down "I was like, scared, really, I was worried," he said.Jaxon immediately called his father, a truck driver who was on the road at the time, and told him he felt there was something wrong because his mom would not wake up. “He said he kept trying and trying ...