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Banks announce $30B rescue package for First Republic

Published Fri, 07 Feb 2025 16:39:46 GMT

NEW YORK (AP) — Eleven of the biggest banks in the country announced a $30 billion rescue package for First Republic Bank on Thursday, in an effort to prevent the California-based bank from becoming the third bank to fail in less than a week. First Republic serves a similar clientele as Silicon Valley Bank, which failed Friday after depositors withdrew about $40 billion. It appears that First Republic, which had deposits totaling $176.4 billion as of Dec. 31, was facing a similar crisis. In a statement, the group of banks confirmed that other unnamed banks had seen large amounts of withdrawals of uninsured deposits, which are those that exceed the $250,000 level insured by the Federal Deposit Insurance Corporation. First Republic’s shares dropped more than 60% Monday, even after the bank said it had secured additional funding from JPMorgan and the Federal Reserve.Thursday the bank’s shares were down as much as 36%, but rallied after reports the rescue package was in the works,...

Alaska volcanoes now pose lower threat, after quakes slow

Published Fri, 07 Feb 2025 16:39:46 GMT

ANCHORAGE, Alaska (AP) — Diminished earthquake activity led authorities Thursday to reduce the warning levels at two volcanoes on an uninhabited island in Alaska’s Aleutian chain because of the decreased potential for eruptions. The Alaska Volcano Observatory lowered the warning level to “Advisory” status from “Watch” for both Tanaga and Takawangha volcanoes on remote Tanaga Island, located about 1,250 miles (2,012 kilometers) southwest of Anchorage.A swarm of earthquakes between March 9 and 11 signaled the increased chance of eruptions. However, since then, the rate and magnitude of quakes have decreased. Several quakes per minute continue to be recorded under Tanaga Island, and the largest recorded in the last day was a magnitude 3.1 between the two volcanoes, separated by about 5 miles (8 kilometers). During the peak, the quakes had magnitudes up to 4.0.No other signs of unrest have been detected, a statement from the observatory said.Tanaga is the middle of three volcanoes on th...

March Madness: Furman upsets Virginia as tourney gets going

Published Fri, 07 Feb 2025 16:39:46 GMT

March Madness has begun! Here is what to know, including the favorites and underdogs as well as key games and how to watch the NCAA Tournament. Oh, and how to fill out your brackets!HOW TO WATCHEvery game of the men’s tournament will be aired — here is a schedule — either on CBS, TBS, TNT or TruTV and their digital platforms. CBS, which also has a handy schedule that includes announcing teams, will handle the Final Four semifinals and national title game this year. The NCAA will again stream games via its March Madness Live option and CBS games will be streamed on Paramount+. Fans of longtime play-by-play announcer Jim Nantz should soak up every moment: It’s his final NCAA Tournament.TOP SEEDSThe top four seeds in the tournament are Alabama, Houston, Kansas, and Purdue. Each is in a region, some tougher than others (on paper), and each has had its share of headaches to set up what could be a chaotic tournament. We break them down for you:EAST REGION: The Boilermakers got a No. 1 see...

Julian Alvarez signs contract extension at Man City

Published Fri, 07 Feb 2025 16:39:46 GMT

MANCHESTER, England (AP) — Manchester City striker Julian Alvarez signed a one-year contract extension Thursday to stay with the Premier League club through the 2027-28 season.The 23-year-old Alvarez, who helped Argentina win the World Cup, has scored 10 goals in 33 appearances during his first season in Manchester.“I have been really pleased with my first season here, but I have plenty more I can do,” Alvarez said in a club statement. “I know I can be better, and City offer me everything I need to fulfill my potential.”He joined City last summer from River Plate on a deal through the 2026-27 season.Financial terms were not disclosed.Alvarez scored four goals for Argentina in their World Cup-winning campaign in Qatar.“His progress so far has been really good, but we are now fully focused on developing his game even further and turning him into one of the best strikers in world football,” City director of football Txiki Begiristain said.___More AP soccer: https://apnews.com/hub/socce...

March Madness: Maryland wins; Virginia, Howard fall in NCAA men’s basketball tournament

Published Fri, 07 Feb 2025 16:39:46 GMT

As March Madness gets underway, the University of Maryland Terrapins came up victorious while the University of Virginia suffered a heartbreaking upset.Meanwhile, D.C.’s Howard University, making its first appearance in the tournament since 1992, gave a valiant effort against the Kansas, but was overmatched by the defending national champions.More Sports NewsMore College Basketball NewsUniversity of MarylandSouth Bracket: No. 8 Maryland defeats No. 9 West Virginia 67-65 After a rocky start in their first appearance in the dance after missing it last year, the Maryland Terrapins found a way to pull away from the West Virginia in a thriller 67-65. It was the team’s largest comeback win of the season as they trailed by as many as 13 points.Julian Reese led the team with 17 points and nine rebounds. Hakim Hart had 15 points, including a steal and dunk that put the Terps ahead to stay with 3:44 left.It was the seventh meeting between the two schools since 1987 and they did no...

Paris Hilton is ready to reclaim her story, share ups, downs

Published Fri, 07 Feb 2025 16:39:46 GMT

Paris Hilton is adding her voice to the chorus of women speaking out to reclaim their narrative from the media and the public.This week she released “Paris: The Memoir,” sharing what it was like for her growing up a Hilton — being sent away to programs for troubled teens but finding mental and physical abuse, a leaked sex tape, the crafting of a party girl image and high-pitched voice and co-starring in a reality show, “The Simple Life,” with Nicole Richie.In 2020, Hilton released a YouTube documentary “This is Paris,” addressing her experiences at the schools. “That was the first time that I really became vulnerable and real and shared my story and what I went through,” said Hilton.Today, Hilton is involved in advocacy work and has welcomed a son with husband Carter Reum.In an interview with The Associated Press, Hilton talks about speaking out, slowing down and what she thinks of being called a socialite.Answers may have been edited for brevity and clarity.——-AP: You’r...

France’s Macron risks his government to raise retirement age

Published Fri, 07 Feb 2025 16:39:46 GMT

PARIS (AP) — French President Emmanuel Macron ordered his prime minister to wield a special constitutional power on Thursday that skirts parliament to force through a highly unpopular bill raising the retirement age from 62 to 64 without a vote.His calculated risk set off a clamor among lawmakers, who began singing the national anthem even before Prime Minister Elisabeth Borne arrived in the lower chamber. She spoke forcefully over their shouts, acknowledging that Macron’s unilateral move will trigger quick motions of no-confidence in his government. The fury of opposition lawmakers echoed the anger of citizens and workers’ unions. Thousands gathered at the Place de la Concorde facing the National Assembly, lighting a bonfire. As night fell, police charged against the demonstrators in waves to clear the elegant Place, but hundreds remained nearly an hour later.The unions that have organized strikes and marches since January, leaving Paris reeking in piles of garbage, ann...

Florida aims to revoke hotel’s liquor license for drag show

Published Fri, 07 Feb 2025 16:39:46 GMT

MIAMI (AP) — Florida Gov. Ron DeSantis’ administration is moving to revoke the liquor license of a Miami hotel that hosted a Christmas drag show, a crackdown that comes as the Republican governor looks to shore up his conservative credentials ahead of an expected 2024 presidential bid.The state’s Department of Business and Professional Regulation filed an administrative complaint earlier this week against the Hyatt Regency Miami for hosting the Christmas-themed show. It alleged that the performance was “sexually explicit” and that children were present for the “lewd, vulgar and indecent” display.The Hyatt Regency Miami said the programming and ticketing at the venue were managed by a third party and the hotel’s role was to serve food and beverages. Amir Blattner, the hotel’s general manager, said the liquor license remains active as the complaint is being reviewed.The producers of the drag show didn’t immediately respond to a message from The Associated Press seeking com...

Bill would reduce money agencies get from seized assets

Published Fri, 07 Feb 2025 16:39:46 GMT

DENVER (KDVR) -- A new bill would touch tens of millions in civil asset forfeiture revenue for police, attorneys and cities.Under Colorado law, law enforcement, district attorneys, cities and other agencies are allowed to seize property suspected of being linked to a crime. This is a civil action separate from the criminal prosecution - the agencies can take the assets whether or not the owner is found guilty of the crime. Photos: 2 arrested after front-door ‘booby trap’ injures visitor Recently, legal movements in some U.S. cities and states have attempted to put more oversight on civil asset forfeiture or abolish it entirely. Colorado is one of those states. HB23-1086, titled the Due Process Asset Forfeiture Act, would allow agencies to seize assets only if defendants are found guilty of a crime. Sponsored by Colorado Rep. Ken DeGraaf, an El Paso County Republican, it would also link the seizure to the criminal case rather than creating a separate civil case. Colorado is requir...

BSO motorman celebrates retirement with friendly contest against comrade

Published Fri, 07 Feb 2025 16:39:46 GMT

A Broward Sheriff’s Office deputy is getting ready to retire, but not before he settles s longtime bet with a fellow officer on the force.Thursday was a special day for BSO motorman Kevin Anderson.“Getting ready to retire,” he said, “got a couple more weeks left after 34 and a half years. Been on the motorcycle unit for 24 years.”But before he retires he’s got a score to settle with fellow deputy.“Deputy Kirby, a guy who I’ve spent almost half my career with, we started school together,” said Anderson.“We started having competitions and challenging the other squad, and of course our squad would always win,” said Kirby.As teachers, they both compete in an annual obstacle course competition, zigzaging through cones and performing other maneuvers.Thursday was a chance for the two to go head to head.In the end, Anderson settles the score as the winner.“He’s got nothing else he can say,” said Anderson. &#...