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Stock market today: Markets steady after latest bank failure

Published Tue, 25 Feb 2025 02:11:27 GMT

NEW YORK (AP) — The latest historic failure for the U.S. banking industry is making few waves so far, and stocks are relatively steady in early trading on Wall Street. The S&P 500 was little changed Monday after regulators seized First Republic Bank and sold off most of it in hopes of preventing more turmoil in the industry. The Dow Jones Industrial Average was up 56 points, or 0.2%, while the Nasdaq composite was off 0.2%. First Republic has been in the spotlight for nearly two months, as investors bet on whether it would be next to topple following March’s failures of Silicon Valley Bank and Signature Bank. THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.NEW YORK (AP) — Early Wall Street trading is relatively subdued Monday in the wake of the third U.S. bank failure in less than two months.Futures for the S&P 500 and the Dow industrials shifted between small gains and losses, essentially unchanged before the opening bell. There are banking holidays around ...

Taiwan’s president hopes to deepen US security exchanges

Published Tue, 25 Feb 2025 02:11:27 GMT

TAIPEI, Taiwan (AP) — Taiwan’s president told visiting ex-U.S. national security adviser John Bolton on Monday that her country is willing to deepen cooperation with the U.S. and “other like-minded partners” to safeguard peace, as the self-governed island faces increasing military threats from China.President Tsai Ing-wen also expressed hopes to Bolton, a potential Republican presidential candidate in 2024, for more military and security exchanges and economic cooperation between the two sides, her office said in a statement. Bolton began his weeklong visit to Taiwan last Wednesday and has called for deeper interaction between the two sides’ national security teams. His visit reflects the importance of the democratic island as an issue in the U.S. presidential election amid heightened tensions between Washington and Beijing. Later Monday, Tsai said at a separate event that China’s military exercises have affected the stability and peace of the Indo-Pacific re...

Trump lawyer seeks mistrial in rape case, citing judge bias

Published Tue, 25 Feb 2025 02:11:27 GMT

NEW YORK (AP) — Former President Donald Trump’s attorney requested a mistrial Monday in his client’s rape case, saying the judge overseeing the civil proceedings in federal court has ruled in a biased manner against Trump.Attorney Joe Tacopina cited “pervasive unfair and prejudicial rulings” by Judge Lewis A. Kaplan as his basis for the mistrial request, made in a letter to the judge.Since mistrials, though sometimes frequently requested at trials, are rarely granted, Tacopina was more likely hoping the judge would grant a version of his alternative requests.In those, Tacopina asked that Kaplan correct the record for any rulings that mischaracterized the evidence or permit Tacopina more latitude in questioning E. Jean Carroll, a columnist who sued Trump in November under a New York state law letting sexual assault victims temporarily sue others for attacks that happened even decades ago.Carroll, 79, testified at a trial that began last week that Trump raped her in the dressing...

Tornado in Virginia Beach destroys homes, causes gas leaks

Published Tue, 25 Feb 2025 02:11:27 GMT

VIRGINIA BEACH, Va (AP) — The City of Virginia Beach declared a state of emergency after a tornado moved through the area and damaged dozens of homes, downed trees and caused gas leaks.Between 50 and 100 homes were damaged after the tornado touched down around 6 p.m., city officials said in a statement Sunday. City Manager Patrick Duhaney declared a state of emergency.There were no immediate reports of injuries.The National Weather Service’s Wakefield office confirmed the tornado based on “debris signature on radar, damage reports, and videos of the storm.” The agency said in a tweet Monday that a crew was surveying the damage to determine the rating, or severity, of the tornado.The agency confirmed another tornado over the weekend in Florida in a weekend filled with hazardous weather across the U.S., including high water on the Mississippi River which tested flood defenses in Iowa and Illinois as it crests in the area Monday. Virginia Natural Gas responded to several homes wi...

Met’s sumptuous Lagerfeld show focuses on works, not words

Published Tue, 25 Feb 2025 02:11:27 GMT

NEW YORK (AP) — Seven words from Karl Lagerfeld adorn a doorway at the Metropolitan Museum of Art’s sumptuous new exhibit honoring the late, legendary designer: “Fashion does not belong in a museum.”Andrew Bolton, who masterminds the New York museum’s blockbuster Costume Institute shows each year, chuckled as he led a visitor through that doorway this weekend, a few days before opening, with crews nearby bustling to prepare for Monday’s splashy Met Gala.“That’s what Karl said to me when I met him,” the star curator said. “He believed fashion was not art — it belonged on the street. So, I really don’t know what he would think of all this! I’m not sure he would come.”“All this” is a lavish, loving tribute to the hugely prolific career of German-born Lagerfeld, who died in 2019 at 85 after more than a half-century of designing that left a deep mark on luxury fashion, especially at Chanel, but also at Fendi, at his own eponymous label, and elsewhere. Set in 14 galleries, the...

Barbie unveils Anna May Wong doll for AAPI Heritage Month

Published Tue, 25 Feb 2025 02:11:27 GMT

Six months after she was immortalized with a U.S. quarter, Asian American Hollywood trailblazer Anna May Wong has received another accolade affirming her icon status — her own Barbie.Mattel announced Monday the release of an Anna May Wong doll for Asian American and Pacific Islanders Heritage Month.The figure has her trademark bangs, eyebrows and well-manicured nails. The doll is dressed in a red gown with a shiny golden dragon design and cape, inspired by her appearance in the 1934 movie “Limehouse Blues.” Wong’s niece, Anna Wong, gave her blessing and worked closely with the brand to develop the Barbie’s look. “I did not hesitate at all. It was such an honor and so exciting,” Wong told The Associated Press in an email. “I wanted to make sure they got her facial features and clothing correct. And they did!”As a child, Anna Wong owned a Barbie and Skipper doll (Barbie’s little sister) and a Barbie dream house and car. She loves the idea that Asian children wi...

Feds: Hospitals that denied emergency abortion broke the law

Published Tue, 25 Feb 2025 02:11:27 GMT

WASHINGTON (AP) — Two hospitals that refused to provide an emergency abortion to a pregnant woman who was experiencing premature labor put her life in jeopardy and violated federal law, a first-of-its-kind investigation by the federal government has found. The findings, revealed in documents obtained by The Associated Press, are a warning to hospitals around the country as they struggle to reconcile dozens of new state laws that ban or severely restrict abortion with a federal mandate for doctors to provide abortions when a woman’s health is at risk. The competing edicts have been rolled out since the Supreme Court overturned the constitutional right to an abortion last year. But federal law, which requires doctors to treat patients in emergency situations, trumps those state laws, the nation’s top health official said in a statement. “Fortunately, this patient survived. But she never should have gone through the terrifying ordeal she experienced in the first place,̶...

New dig likely buries hopes of unearthing Dutch WWII loot

Published Tue, 25 Feb 2025 02:11:27 GMT

OMMEREN, Netherlands (AP) — An officially sanctioned hunt for a stash of precious jewelry looted by the Nazis during World War II and purportedly buried in a sleepy Dutch village has — like many previous searches — failed to unearth any treasure.Archeologists and historians called into the village of Ommeren, about 80 kilometers (50 miles) southeast of Amsterdam, pushed a detection device called a magnetometer along a row of fruit trees and across a field Monday morning and used a mechanical digger to excavate holes in the soggy soil.They were rewarded with little more than a World War II-era bullet, some twisted scrap metal, a crumpled car wheel and muddy boots.Municipal officials hope that the failure of the team — that included members of a local historical society and archeologists from the Vrije Universiteit Amsterdam — to find treasure will put an end to amateur sleuths visiting the village.“I think there’s minimal chance of finding anything. We dug three holes here of places ...

Enbridge buys underground natural gas storage facility from Fortis for $400 million

Published Tue, 25 Feb 2025 02:11:27 GMT

CALGARY — Enbridge Inc. has signed a deal to buy a large underground natural gas storage facility in B.C. for $400 million.Under the agreement with FortisBC Holdings Inc., Enbridge will acquire the company’s interest in FortisBC Midstream Inc., which holds a 93.8 per cent interest in the Aitken Creek Gas Storage facility and a 100 per cent interest in the Aitken Creek North Gas Storage facility. The underground reservoir is 120 kilometres northeast of Fort St. John, B.C., in the Montney production region.Enbridge says it has 77-billion cubic feet of working gas capacity.The company says Aitken Creek Storage connects to all three major long-haul natural gas transportation lines in Western Canada, including Enbridge’s Westcoast and Alliance pipelines.The deal is expected to close later this year, subject to receipt of customary regulatory approvals and closing conditions. This report by The Canadian Press was first published May 1, 2023.Companies in this story: (TSX:ENB, T...

Boy, 15, shot in groin in Back of the Yards neighborhood

Published Tue, 25 Feb 2025 02:11:27 GMT

CHICAGO — Police are searching for an offender who shot a 15-year-old boy in the Back of the Yards neighborhood Sunday night.According to police, the boy was walking outside near the 1900 block of West 47th Street around 8:00 p.m. when he was shot in the groin by an unidentified offender. CPD board to decide if officer who fatally shot 13-year-old Adam Toledo should be fired Police said he was transported to Comer Children's Hospital in fair condition. There is currently no one in custody and police are investigating the incident.