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Global stocks mixed after Wall St rebounds from bank jitters

Published Mon, 24 Feb 2025 16:18:23 GMT

BEIJING (AP) — World markets were mixed Wednesday after Asian stocks rebounded while Europe opened lower and Wall Street futures declined.London and Frankfurt declined. Shanghai and Tokyo closed higher. Oil prices rose by $1 per barrel, recovering some of the previous day’s 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. That was despite data showing prices rose 6% over a year ago in February, decelerating from the previous month’s 6.4% but above the Federal Reserve’s 2% target. “Measures of stress in financial markets have eased back from their spike on Monday — but remain elevated,” said ING economists in a report.In early trading, London’s FTSE 100 lost 0.6% 7,591.73. The DAX in Frankfurt retreated 0.3% to 15,188.30 and the CAC 40 in Paris declined 0.7% to 7,094.06.On Wall Street, the ...

Edmunds Compares: 2023 Toyota Prius vs. 2023 Kia Niro

Published Mon, 24 Feb 2025 16:18:23 GMT

The Toyota Prius, which has become synonymous with hybrid cars the past 20 years, is fresh off a full redesign for 2023. The prior generation’s oddball styling, quirky interior and feeble powertrain are now in the rearview mirror. The new Prius now features an attractive look, a sleeker interior and a big increase in power. It’s even more efficient than the previous model. But it’s not the only hybrid car you should consider.The Kia Niro has been on the market since 2016, and like the Prius, it was also redesigned for the 2023 model year. The new Niro sports a stylish bold design, excellent technology and a roomier interior. But is Kia’s hybrid good enough to take on the long-running Prius? Edmunds experts compare them to find out which one is the better buy. FUEL ECONOMY AND POWER The Prius and Niro are two of the most efficient hybrids you can buy, but the Prius sips fuel slower. The front-wheel-drive base model boasts an impressive EPA estimate of 57 mpg in combined city and high...

China, Russia, Iran hold joint naval drills in Gulf of Oman

Published Mon, 24 Feb 2025 16:18:23 GMT

BEIJING (AP) — Naval forces from China, Iran and Russia — all countries at varying degrees of odds with the United States — are staging joint drills in the Gulf of Oman this week, China’s Defense Ministry has announced.Other countries are also taking part in the “Security Bond-2023” exercises, the ministry said Tuesday without giving details. Iran, Pakistan, Oman and the United Arab Emirates all have coastline along the waterbody lying at the mouth of the strategic Persian Gulf.“This exercise will help deepen practical cooperation between the participating countries’ navies … and inject positive energy into regional peace and stability,” the ministry statement said.The exercises scheduled for Wednesday through Sunday come amid heightened tensions between the U.S. and China over a range of issues, including China’s refusal to criticize Moscow over its invasion of Ukraine and continuing support for the Russian economy. The U.S. and its allies have condemned the invas...

How the last banking tumult fuels today’s populist politics

Published Mon, 24 Feb 2025 16:18:23 GMT

WASHINGTON (AP) — Mike Pence and Bernie Sanders are hardly political allies.But in the aftermath of two large bank failures, the conservative former vice president and the democratic socialist senator are striking remarkably similar tones. Pence, a Republican, bemoaned that “we live in a world where certain politically favored businesses are propped up, backstopped and bailed out by government.” Sanders, an independent who caucuses with Democrats, said “we cannot continue down the road of more socialism for the rich and rugged individualism for everyone else.” Their sentiment reflects the populism that has coursed through both political parties in the 15 years since shaky financial institutions last spurred anxiety about the broader economy. The 2008 financial crisis unleashed a political realignment that rejected perceived elites and establishment figures, often with unpredictable results for Democrats and Republicans alike.“There is rising discontent with corporate greed, wh...

Texas drove out Chinese firm, not the wind farm it planned

Published Mon, 24 Feb 2025 16:18:23 GMT

DEL RIO, Texas (AP) — Long before a Chinese spy balloon captivated and spooked the U.S. public, Kyle Bass foresaw what he deemed another foreign danger slated for skies above the Texas-Mexico border: wind turbines.Dozens of them, roughly 700 feet (213 meters) tall — as big as San Antonio’s tallest skyscraper — were set to sprout across thousands of scrubby acres near the pristine Devils River. Protests that a wind farm would harm a sensitive ecosystem in Texas flopped, but when attention turned to a Chinese billionaire behind the project, state lawmakers raced to pull the plug.“Drumming up the ire against the national security issues was easier than the environmental issues,” said Bass, whose Monarch Ranch near the Mexico border and the planned wind farm is a flight path for migrating birds and butterflies.U.S.-China ties are strained amid growing tensions over security and trade. In nearly a dozen statehouses and Congress, a decades-old worry about foreign land ownership has ...

Turkey floods kill 5 in earthquake-affected provinces

Published Mon, 24 Feb 2025 16:18:23 GMT

ANKARA, Turkey (AP) — Floods caused by torrential rains hit two provinces that were devastated by last month’s earthquake, killing at least five people and increasing the misery for thousands who were left homeless, officials said Wednesday. A number of other people were reported missing.One person was killed in the town of Tut in southeastern Adiyaman province, where surging waters swept away a container home where a group of earthquake survivors were living, Gov. Numan Hatipoglu said. Four people were missing.Four other people were killed and two firefighters were reported missing from the floods in neighboring Sanliurfa province, Gov. Salih Ayhan told HaberTurk television.Television footage from Sanliurfa showed flood waters surging along a street and sweeping away cars.Several people were evacuated from a drenched campsite in Sanliurfa where earthquake survivors were sheltering in tents. Patients were also evacuated from a hospital, HaberTurk reported. The powerful earthquake st...

‘Family Feud’ contestant accused of murdering estranged wife

Published Mon, 24 Feb 2025 16:18:23 GMT

(NewsNation) — A man who appeared on “Family Feud” is accused of murdering his estranged wife, according to reports.Timothy Bliefnick, 39, a former contestant of the game show in 2020, is facing first-degree murder and home invasion charges in connection to the death of Rebecca Bliefnick in Quincy, Illinois.The mother of three was discovered shot to death inside her home along Kentucky Road on Feb. 23. Timothy Bliefnick was taken into custody on March 13. Biden to sign executive order to increase background checks While the investigation continues, the Quincy Police Department called Timothy Bliefnick’s arrest a “significant step forward in the search for justice for Rebecca.”Authorities say the Rebecca’s death has shaken the Quincy community.“This brutal crime has had the Quincy community on edge and our residents living in fear,” the police department posted to their Facebook page.KHQA reports the couple married in 2009, but were going through divorce proceedings at the time of ...

Abortion pill challenge goes before Texas judge

Published Mon, 24 Feb 2025 16:18:23 GMT

AMARILLO, Texas (AP) — A federal judge will hear arguments Wednesday in a high-stakes court case that could threaten access to medication abortion and blunt the authority of U.S. drug regulators.Judge Matthew Kacsmaryk of Texas is weighing a lawsuit from Christian conservatives aimed at overturning the Food and Drug Administration’s more than 2-decade-old approval of the abortion pill mifepristone. The drug, when used with a second pill, has become the most common method of abortion in the U.S.There is essentially no precedent for a lone judge overruling the scientific decisions of the FDA. And legal experts have warned of far-reaching consequences if judges begin second-guessing FDA decisions on drug safety and effectiveness. Senate Democrats press pharmacies to ensure access to abortion drug Wednesday's hearing is the first in the case, which is being intensely tracked by groups on both sides of the abortion issue after last year's reversal of ...

Severe risk tomorrow ahead of colder, wet weather

Published Mon, 24 Feb 2025 16:18:23 GMT

AUSTIN (KXAN) -- A risk of strong to severe storms tomorrow will be followed by a much colder, and at times wetter, pattern this weekend into next week.Today will feature a nice warm up as afternoon highs return to the mid-70s under a mix of sun and clouds. Winds will begin to increase out of the southeast late day helping to bring up temperatures and humidity. NEW BLOG: How a switch to El Niño could affect hurricane season THUSDAY: rounds of storms/showersThree rounds of rain and storms are expected tomorrow. Below is a breakdown of each.ROUND #1 - Thursday morning: spotty to scattered light rain, no severe risk.ROUND #2 - Thursday early afternoon (12PM-4PM): a few spotty to scattered storms and showers will develop ahead of an incoming dryline. There is a risk for isolated severe storms, mainly east of I-35, with potential for large hail and damaging winds.Low risk of severe storms east of I-35 Thursday afternoonROUND #3 - late Thursday night into early Friday morning (8PM THU -...

Seven, including six from Texas, charged in $111 million scheme to defraud IRS

Published Mon, 24 Feb 2025 16:18:23 GMT

WASHINGTON (KXAN) – The Department of Justice said Monday seven people, including six from Texas, face multiple charges in a multi-million dollar scheme to defraud the Internal Revenue Service using stolen identities. According to the DOJ announcement, a federal grand jury in Austin indicted the seven on March 7, charging them with conspiracy to commit mail and wire fraud and other crimes. Those indictments were unsealed on Monday. The DOJ says indictments alleged that from 2018 through 2021, the following seven people engaged in a conspiracy to claim fraudulent tax refunds using the stolen identities of accountants and taxpayers by filing at least 371 false tax returns claiming over $111 million in refunds from the IRS.Abraham Yusuff, Round Rock Meghan Inyang, San Antonio Christopher Eduardo, Round Rock Christian Mathurin, Nashville, Tennessee Dillon Anozie, San Antonio Babajide Ogunbanjo, Austin Aydin Mammadov, Houston The DOJ announcement says Yusuff allegedly recruited and direc...