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Lebanon’s pound hits a new low as banks go back on strike

Published Wed, 26 Feb 2025 17:43:12 GMT

BEIRUT (AP) — Lebanon’s embattled currency hit a new low Tuesday, trading at an unprecedented 100,000 Lebanese pounds to the dollar on the black market as the crisis-hit country’s banks went back on strike. The pound has kept sinking since Lebanon’s financial meltdown erupted in 2019, following decades of rampant corruption and mismanagement by the country’s political and financial elite. Three-quarters of Lebanon’s population of over 6 million now lives in poverty and inflation is soaring. The new rate of 100,000 pounds to the dollar was posted on mobile apps Tuesday used by private money exchangers. Exchange shops and businesses use rates off these apps, and authorities have failed to shut down the apps and crack down on a ring of suspected exchangers across the country who run the programs.While the official exchange rate is set by the Central Bank at 15,000 pounds for $1, the black market rate is now used for nearly all transactions.With trust in th...

Asian shares fall, European markets mixed amid bank worries

Published Wed, 26 Feb 2025 17:43:12 GMT

TOKYO (AP) — European markets were mixed Tuesday after a broad retreat in Asia led by declines in bank shares as investors watched to see what’s next following the second- and third-largest bank failures in U.S. history.Oil prices fell nearly $2 a barrel while U.S. futures were higher.While direct global exposure to risks from the U.S. failures outside the U.S. appears limited, the collapses of Silicon Valley Bank and Signature Bank have shaken confidence in the industry at a time when the Federal Reserve and other central banks are struggling to fine-tune policies to crush stubborn inflation without snuffing out post-pandemic economic recoveries. Worries over a possible spreading of risks throughout financial systems have been countered, however, by hopes that the Fed might slow its interest rate hikes to relieve pressures on markets. European benchmarks were mixed in early trading. France’s CAC 40 rose 0.1% to 7,019.04. Germany’s DAX added 0.5% to 15,032.84. Britain’s FTSE 100 she...

Man gets 3-year banning order for racially abusing Toney

Published Wed, 26 Feb 2025 17:43:12 GMT

NEWCASTLE, England (AP) — A man who racially abused Brentford striker Ivan Toney on social media has been banned from every soccer stadium in Britain for three years in what police described Tuesday as a “landmark ruling.”Antonio Neill sent a racist message to Toney on his Instagram account after the striker scored two goals against Brighton in a Premier League match on Oct. 14.Police started an investigation after Toney shared a picture of the abuse and the message was traced to the 24-year-old Neill, who lives in Blyth, a town in northern England.Neill appeared in a magistrates’ court in Newcastle on Jan. 25 and pleaded guilty to sending an offensive message.On Monday, he was handed a four-month sentence suspended for two years as well as a three-year soccer banning order, the first to be issued under a government act which became law in 2022. That widened the scope for banning orders to be issued for online hate crimes relating to a person with a connection to a soccer orga...

Maine lobster industry sues over do-not-eat listing

Published Wed, 26 Feb 2025 17:43:12 GMT

PORTLAND, Maine (AP) — A coalition representing the Maine lobster industry is suing an aquarium on the other side of the country for recommending that seafood customers avoid buying a variety of lobster mostly harvested in their state.Industry groups including Maine Lobstermen’s Association are suing the Monterey Bay Aquarium in California for defamation, arguing in a lawsuit filed Monday that their prized catch shouldn't be on a “red list" published by Seafood Watch, a conservation program it operates.Last year, Seafood Watch put lobster from the U.S. and Canada on its list of seafood to avoid due to the threat posed to rare whales by entanglement in fishing gear used to harvest American lobster, the species that makes up most of the U.S. lobster market. Here’s who is paying to restore Silicon Valley, Signature Bank deposits Endangered North American right whales number only about 340 and they’ve declined in recent years.But the lobster industry is arguing to the U.S. District Co...

'Fosbury Flop' high jumper Dick Fosbury dies at 76

Published Wed, 26 Feb 2025 17:43:12 GMT

Dick Fosbury, the lanky leaper who revamped the technical discipline of high jump and won an Olympic gold medal with his “Fosbury Flop,” has died. He was 76.Fosbury died Sunday after a recurrence with lymphoma, according to his publicist, Ray Schulte.Before Fosbury, many high jumpers cleared their heights by running parallel to the bar, then using a straddle kick to leap over before landing with their faces pointed downward. At the 1968 Mexico City Olympics, Fosbury took off at an angle, leaped backward, bent himself into a “J” shape to catapult his 6-foot-4 frame over the bar, then crashed headfirst into the landing pit.Dick Fosbury, of the United States, clears the bar in the high jump competition at the 1968 Mexico City Olympics. Fosbury, the lanky leaper who completely revamped the technical discipline of high jump and won an Olympic gold medal with his “Fosbury Flop,” has died after a recurrence with lymphoma. Fosbury died Sunday, March 12, 2023, according to his publicist...

Here's who is paying to restore Silicon Valley, Signature Bank deposits

Published Wed, 26 Feb 2025 17:43:12 GMT

(The Hill) - The federal government mobilized immediately in response to the collapse of Silicon Valley Bank (SVB) and Signature Bank, working over the weekend to insure depositors who had more than $200 billion of venture capital and high-tech start-up money stored in the two banks. But unlike the 2008 financial crisis, during which Congress passed new legislation in order to salvage the country’s largest banks, the current rescue plan is smaller in scale, pertains to only two banks, and isn't additional taxpayer money — for now.In order to make sure depositors can still withdraw funds from their accounts — the vast majority of which exceeded the $250,000 limit for standard insurance from the Federal Deposit Insurance Corporation (FDIC) — regulators say they’re pulling from a special fund maintained by the FDIC called the deposit insurance fund (DIF).“For the two banks that were put into receivership, the FDIC will use funds from the deposit insurance fund to ensure that all of its...

Bee Cave on Ice to return this winter after successful inaugural season

Published Wed, 26 Feb 2025 17:43:12 GMT

BEE CAVE, Texas (KXAN) -- The city of Bee Cave has placed a down payment on an ice rink in order to bring back its winter celebration, Bee Cave on Ice, for a second season. The city placed a $50,000 down payment on a new outdoor-ice rink for the celebration coming up next winter after the attraction garnered a lot of success in its inaugural season. Ice rink doubles city's population The outdoor rink more than doubled the population of the city, according to Bee Cave officials. The city's population is about 10,000, but the ice rink brought in 25,000 skaters, and the city predicts about 75,000 people came into the city throughout the event. The city was not able to determine the economic impact the ice rink had, but they know people decided to shop and eat in Bee Cave stores because of the winter spectacle. Cost of ice rink Last year, the outdoor rink cost $400,000, with the city putting up $300,000 and the Hill Country Galleria, where the rink was housed, putting up the remaining $...

Cooler today ahead of a major warm up and storm threat

Published Wed, 26 Feb 2025 17:43:12 GMT

AUSTIN (KXAN) -- Clouds increase Tuesday with just a spot shower and a few light sprinkles at times. Limited sunshine and a continued northeasterly breeze will keep temperatures cooler than normal with highs into the middle 60s. NEW BLOG: How a switch to El Niño could affect hurricane season First Warning: Severe weather threat, colder weatherOnce that storm passes, our attention turns toward a more significant storm system late this week that will bring a threat of severe thunderstorms and a stretch of much colder than normal weather.The main risk of severe thunderstorms appears to come late Thursday night through Friday morning, with hail and wind damage possible in the strongest storms. Severe thunderstorm risk late Thursday, early FridayDramatically colder weather will bring low temperatures in some areas in the 30s through the weekend into early next week with a chance of light precipitation, especially Sunday and Monday.Dramatically colder weather blows in starting FridaySpr...

GGFT: Regular bus service delayed until 8 a.m.

Published Wed, 26 Feb 2025 17:43:12 GMT

GLENS FALLS, N.Y. (NEWS10) -- According to Scott Sopczyk, the Transportation Director of the Greater Glens Falls Transit (GGFT), the regular start of regular bus service has been delayed from 6:30 a.m. to 8 a.m. on Tuesday due to the severe winter snowstorm. According to Communications Director Tim Drawbridge, the streets in the City of Glens Falls are in good shape, but the roads outside of city limits aren't. Get all of the latest news, weather, sports, and entertainment delivered right to your inbox! GGFT will continue to monitor the trends of the roads and snow and will reaccess the starting time at 8 a.m.

Ask Amy: In-home caregiver may care too much

Published Wed, 26 Feb 2025 17:43:12 GMT

Dear Amy: My husband and I have a special-needs teenage son. After more than a year on a wait list, we finally have an in-home therapist.“Darla” comes three mornings a week to wake him up and help him to get dressed and ready for school.This gives me rare and much-needed breaks.My husband, who works from home, lets Darla into our home. I usually stay in my room and either sleep in or just enjoy the quiet until it is time for me to take my son to school.Darla doesn’t see all that I do when she isn’t there.I’ve picked up hints that she thinks I’m lazy and that my poor husband is put upon. (He doesn’t feel that way).She also seems to have a crush on my husband and finds excuses to chat with him. It drives him crazy, because he’s trying to work.I sent Darla a text asking her not to disturb him unless absolutely necessary.She didn’t respond to the text, but she did stop interrupting him as much.Recently, after I let her in one morning, she told m...