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10 days that shook the financial world

Published Wed, 26 Feb 2025 13:03:36 GMT

Izabella Kaminska is senior finance editor at POLITICO Europe.Over the span of 10 days, the global financial system was once again shaken.The time frame between the collapse of Californian lender Silicon Valley Bank, America’s 16th largest bank, and that of the 167-year-old lender Credit Suisse was approximately just that — 10 days. And as we witness the fallout, so far it appears contained. Stock markets are up, bank stocks seem stabilized and government bonds are in high demand. Officials reassure ad nauseam that the financial system remains strong and stable.But the truth is, even if so, what happened in this period of time has changed the financial system forever — and worryingly, most people haven’t even noticed.Governments and central banks would have you believe that in both cases, private sector solutions were found to resolve the failures. No taxpayer funds were used.But that is likely not true.In the United States, growing calls from the country’s top bil...

Fire in Maynard sends two people to the hospital

Published Wed, 26 Feb 2025 13:03:36 GMT

At least two people were taken to the hospital Wednesday after a fire broke out in an apartment complex in Maynard. The fire started at the complex on Powder Mill Circle around 7:15 a.m., drawing emergency crews to the scene. Fire crews were seen at one point using ladder trucks to battle flames. Of the two people hospitalized, one is a firefighter who hurt his back.Maynard police said the fire had grown to three alarms by 7:30 a.m. Police initially asked drivers to avoid nearby Powder Mill Road before announcing the road had reopened just after 9 a.m.The cause of the fire remained under investigation as of Wednesday morning.No additional information was immediately available.This is a developing news story; stay with 7NEWS on-air and online for the latest details.

Health officials investigating Legionnaires’ disease cases in N.H.

Published Wed, 26 Feb 2025 13:03:36 GMT

An investigation is underway into a series of Legionnaires’ disease cases in New Hampshire, health officials said on Tuesday. Officials with the New Hampshire Department of Health and Human Services said five people contracted Legionella pneumonia between the fall of 2021 and January of this year. In each case, officials said individuals stayed at the Meredith Woods and Clearwater Campground in Meredith, N.H. before falling ill. Officials said each of the five individuals had to be hospitalized, though they have since recovered. In a statement, the Department of Health and Human Services said its Division of Public Health Services is working with the state’s Department of Environmental Services  to investigate recent cases “to identify water system contamination and implement corrective actions to prevent further infections.” As part of their investigation, officials asked anyone who was diagnosed with Legionnaires’ disease after visiting Meredit...

Victor Oladipo’s Heat time had come, then it was gone (unsure of what comes next)

Published Wed, 26 Feb 2025 13:03:36 GMT

Victor Oladipo could have retreated to the locker room and it would have been understood. Assuredly, he had to know the questions that were coming after being benched in two of the previous three games.Instead, he waited patiently by a training table, still glistening from post-practice sweat, while coach Erik Spoelstra offered comments in advance of Wednesday night’s game against the New York Knicks at Miami-Dade Arena.For Oladipo. patience not only has been a virtue these past several injury-racked seasons but practically a necessity.It is again.“I just didn’t know,” Oladipo said of lack of advance notice when he was held out of last week’s victory over the Memphis Grizzlies, the first time he was listed as “Did Not Play – Coach’s Decision” this season. “So I was just sitting there and sat there and supported my team. I think after a while I could tell I wasn’t going in. And can’t really control that. Just got...

ASK IRA: Is disappointment a factor of Heat expectations?

Published Wed, 26 Feb 2025 13:03:36 GMT

Q: I think Pat Riley bounces back in a big way next year. Born winner. Made Heat relevant the moment he walked through the doors. Not Dwyane Wade, not LeBron James, Pat. It all started with him. – Douglas.A: This arrived with Pat Riley turning 78 this week. But I’m not sure how much Pat has to “bounce back” from this season. The problem since Riley’s arrival in 1995 – and it’s not an actual problem – are the expectations. The Heat, entering Tuesday, stood tied with the NBA’s 10th-best record. So, in other words, even in what is being considered a down season, the Heat are ahead of two-thirds of the field. Still, anticipation of a “bounce back” seemingly would be justified, considering what the Heat achieved in the 2020 and 2022 playoffs coming off uneven seasons. But don’t limit those expectations just to Pat. Andy Elisburg, Adam Simon and the rest of the front office also have a way of creating turnarounds. And...

Wind gusts reached speeds over 80 mph in this San Diego area

Published Wed, 26 Feb 2025 13:03:36 GMT

SAN DIEGO -- Widespread rain and strong winds have swept San Diego County this week with some particular areas receiving the brunt of the storm.A high wind warning was in effect until midnight Tuesday and rightfully so as winds speeds outpaced the forecast in some sectors of the county.Some San Diegans may be faced with downed trees and debris following the the windy weather. More rain moves into San Diego The highest reported wind gust from 10:15 p.m. Monday to the same time Tuesday was recorded on Palomar Mountain and clocked in at 83 mph, according the the National Weather Service.Trailing in second place, the Oak Grove area in North County, which is located about 22 miles east-southeast of Temecula, clocked winds speeds at 67 mph during that same timeframe. Here's a 24-hour breakdown of some of the top wind speeds in the coastal, mountains, valleys and dessert areas as of 10:15 p.m. Tuesday, according to NWS data. San Diego Weather Radar Coastal areasGeneral areaWind gusts s...

Police besiege gunman in Thailand who killed at least 3

Published Wed, 26 Feb 2025 13:03:36 GMT

BANGKOK (AP) — Police in Thailand said Wednesday they cordoned off a neighborhood in a city southwest of the capital and trapped a gunman inside his house after he shot dead at least three people and wounded several others.Thai television showed images of police taking positions on a quiet street in Phetchaburi, about 170 kilometers (105 miles) southwest of Bangkok, some carrying weapons and others with protective shields.Police confirmed that three people, including a motorcycle delivery driver, had been killed in the incident, which began early Wednesday afternoon. At one point, a body spotted by a police drone in front of the house could not be retrieved because it was in the line of fire.At least two injured people, one a local official who rushed to the site when he was notified of the shooting, were taken to a hospital.Police evacuated children from nearby schools and care centers and surrounded the gunman’s house while waiting for specially trained officers to try to resolve ...

Macron wants French pension plan implemented by end of year

Published Wed, 26 Feb 2025 13:03:36 GMT

PARIS (AP) — French President Emmanuel Macron said Wednesday that the pension bill he pushed through without a vote in parliament needs to be implemented by the “end of the year,” sticking to his decision to raise the retirement age from 62 to 64 despite mass protests.Macron, who made the comments in an interview broadcast on national television, said the bill will “continue its democratic path.” The Constitutional Council needs to review the bill in the coming weeks, and it can only be turned into law after the body gives its approval. It was the first time that Macron spoke publicly since his government forced the pension bill through parliament last week, prompting scattered protests in Paris and across the country, some degenerating into violence. His government survived two no-confidence votes at the lower chamber of parliament on Monday.The 45-year-old president repeatedly said that he was convinced that France’s retirement system had needed to be modified to keep ...

Manitoba to raise minimum wage to $15.30 in October under inflation-tied formula

Published Wed, 26 Feb 2025 13:03:36 GMT

WINNIPEG — The Manitoba government says the province’s minimum wage will rise to $15.30 an hour on Oct. 1.The government previously estimated it would hit $15 an hour or more, and has now determined the exact amount under a formula tied to inflation.The wage is currently $13.50 an hour and is set to rise April 1 to $14.15, as the Progressive Conservative government announced last fall.Labour and Immigration Minister Jon Reyes says the increase in October will put Manitoba in the top three provinces when it comes to minimum wages.Reyes says raising the minimum wage will help workers deal with the rising cost of living, and having it phased in will give employers time to adjust.Under a subsidy announced by the province last fall, businesses with up to 20 workers can apply for up to 50 cents an hour for each worker earning minimum wage.This report by The Canadian Press was first published March 22, 2023The Canadian Press

Transgender youth: ‘Forced outing’ bills make schools unsafe

Published Wed, 26 Feb 2025 13:03:36 GMT

TULSA, Okla. (AP) — Al Stone-Gebhardt worked hard in school to make sure he graduates in May, and he spent hundreds of dollars on commencement regalia, but he is fully prepared not to participate in the ceremony.The 17-year-old, who is transgender, said he fears his high school, Tulsa Union, might use his deadname — the name he was given at birth but no longer uses — on his diploma and during the ceremony instead of his legally changed name. He has had teachers call him by his birth name, sometimes inadvertently, and said he finds the experience traumatizing.“Being deadnamed just immediately makes you feel belittled, weak and insignificant,” Stone-Gebhardt said. “I didn’t want to be in the classroom. I didn’t trust the teacher.”After The Associated Press contacted the school about Stone-Gebhardt’s concerns, a spokesperson said the school will work with his parents to make sure his correct name is used.As hundreds of bills nationwide take aim at nearly every facet of transgender exis...