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Wall Street, banks rise after SVB sale to First-Citizens

Published Wed, 25 Dec 2024 17:49:41 GMT

BANGKOK — U.S. futures shot higher early Monday, with bank stocks mostly gaining after the Federal Deposit Insurance Corp. said it had agreed to the sale of troubled Silicon Valley Bank to North Carolina-based First-Citizens Bank & Trust Co. Futures for the Dow Jones Industrial Average and S&P 500 each climbed 0.8% early Monday.The FDIC took control of Silicon Valley Bank after it collapsed on March 10, promising to protect all depositors. Nasdaq-traded stock of First Citizens BancShares, Inc., parent company of First-Citizens, jumped 40% in premarket trading early Monday. The acquisition of Silicon Valley Bank lender could raise confidence in the troubled banking industry after failures at SVB and two other banks rattled investors, driving bank shares sharply lower. But concerns persist that higher interest rates that are squeezing lenders could increase the likelihood of a recession. Earlier this month, shares of and faith in Credit Suisse, which has its own unique set of ...

How Netanyahu judicial plan sparked massive unrest in Israel

Published Wed, 25 Dec 2024 17:49:41 GMT

JERUSALEM (AP) — Prime Minister Benjamin Netanyahu’s proposed judicial overhaul has unleashed the most intense social unrest in Israel in decades. Tens of thousands of people have repeatedly taken to the streets against the plan — including spontaneous mass demonstrations that erupted across the country late Sunday after he fired his defense minister for questioning the overhaul.The unrest showed no signs of slowing Monday. Israel’s largest trade union declared a general strike – paralyzing the country’s international airport – and thousands of people gathered outside parliament for another day of protests. The union joins business leaders, bank chiefs, fighter pilots, military reservists, academics, former security commanders and other influential sectors of society in coming out against the plan.Netanyahu delayed a speech to the nation while he huddled with advisers and coalition partners to determine his next move. Here’s a look at how Israel has been plunged into its most seriou...

Lebanon changes unpopular move to delay daylight saving time

Published Wed, 25 Dec 2024 17:49:41 GMT

BEIRUT (AP) — Lebanon’s caretaker prime minister reversed an unpopular decision made by his office to delay the start of daylight saving time by a month, saying Monday the Cabinet decided to implement the change in two days. Najib Mikati’s comments came after the government’s initial decision earlier this month was widely criticized around the country with many, including the country’s largest church, saying they will not abide by the decision.“The new daylight saving time will start at midnight Wednesday,” Mikati said after a Cabinet meeting that only discussed the issue. With some institutions implementing the change while others refused, many Lebanese found themselves in the position of juggling work and school schedules in different time zones — in a country that is just 88 kilometers (55 miles) at its widest point.Last week, the government said it will delay the start of daylight saving time by a month until the end of the Muslim holy month of Ramadan. That led to mass confusio...

UN-backed probe cites crimes against humanity in Libya

Published Wed, 25 Dec 2024 17:49:41 GMT

GENEVA (AP) — U.N.-backed human rights experts said on Monday there is evidence that crimes against humanity — including sexual slavery — have been committed against Libyans and migrants in the North African country.The investigators commissioned by the U.N.-backed Human Rights Council also faulted the European Union for sending support to Libyan forces that they say contributed to crimes against migrants and Libyans.The findings come in an extensive new report, based on hundreds of interviews with hundreds of people including migrants and witnesses, that wraps up a fact-finding mission created nearly three years ago to investigate rights violations and abuses in Libya.Libya was plunged into turmoil after a NATO-backed uprising in 2011 toppled longtime autocrat Moammar Gadhafi, who was later killed, and left the country divided between rival governments on the east and west.Oil-rich but largely lawless Libya has in recent years emerged as the dominant transit point for migrants seek...

Kansas court to review pair of unenforced abortion laws

Published Wed, 25 Dec 2024 17:49:41 GMT

TOPEKA, Kan. (AP) — Kansas’ highest court is considering whether the state can restrict how doctors end second-trimester pregnancies or impose extra health and safety rules for abortion providers after a decisive statewide vote last year confirming that the state constitution protects abortion rights.The state Supreme Court is set to hear arguments Monday from attorneys for the state and abortion providers in two lawsuits. One challenges a 2015 law banning a common second-trimester abortion procedure, and the other challenges a 2011 law that regulates abortion providers more strictly than other health care providers. Legal challenges have blocked both laws from being enforced.The U.S. Supreme Court declared in June 2022 that the U.S. Constitution doesn’t protect abortion rights and that states can ban abortion, but the Kansas court ruled in 2019 that access to abortion is a “fundamental” right under the state constitution. That led the Republican-controlled Legislature t...

Cameco expects $300M refund from Canada Revenue Agency after revised reassessments

Published Wed, 25 Dec 2024 17:49:41 GMT

SASKATOON — Cameco Corp. says it expects to receive a refund of about $300 million after the Canada Revenue Agency issued revised reassessments for the 2007 through 2013 tax years.The refund includes $89 million in cash and $211 million in letters of credit, which the company had remitted based on prior reassessments CRA issued in a long-standing tax dispute.Cameco says the timing of the refund has not yet been determined.The uranium miner has been tied up for years in a dispute with the tax agency over a foreign subsidiary.Cameco has won a series of court decisions for the 2003, 2005 and 2006 tax years, however issues remain for 2007 through 2013 and the company continues to fight with CRA over those years.The company says CRA continues to hold $480 million, including $206 million in cash and $274 million in letters of credit, that it has remitted.This report by The Canadian Press was first published March 27, 2023.Companies in this story: (TSX:CCO)The Canadian Press

Japanese student goes to graduation dressed like Zelenskyy

Published Wed, 25 Dec 2024 17:49:41 GMT

TOKYO (AP) — A Japanese student showed up to graduation as Ukrainian President Volodymyr Zelenskyy’s lookalike, wearing his signature olive-colored, snug-fit T-shirt and khaki trousers to show his support for Ukraine’s fight against Russia. Most graduation ceremonies in Japan feature graduates in suits or formal dress. But Kyoto University has its own tradition of students who opt for different attire on their special day. This year, Zelenskyy was the star at the event.“I am President Zelenskyy,” the student told local TV network Yomiuri. He said it took him three months to grow his beard. He decided to be his lookalike for the graduation ceremony Friday, because “since December, when I was growing out my beard, I was told I look like President Zelenskyy.” His performance was not just a comical cosplay. The student, who goes by Amiki on Twitter, was holding a sign carrying messages expressing his support for Ukraine, along with a passage from Zelenskyy’s speech in December at the U....

Russian shelling of Ukraine city kills 2, wounds 29 people

Published Wed, 25 Dec 2024 17:49:41 GMT

KYIV, Ukraine (AP) — Two people were killed and 29 wounded Monday when Russian forces shelled the Ukrainian city of Sloviansk, in the partially occupied eastern Donetsk region, local officials said.Video footage of the aftermath showed damaged residential buildings, debris in the streets and vehicles on fire.Ukraine’s President Volodymyr Zelenskyy described the attack as “terrorism.”Russia has denied targeting residential areas even though artillery and rocket strikes have hit Ukrainian apartment buildings and civilian infrastructure daily during the war. The Sloviansk attack followed a typical pattern of long-range shelling adopted by the Kremlin’s forces, especially in recent months as the fighting became deadlocked during the bitterly cold winter months.In the eastern Donetsk region, some 10 cities and villages were shelled by Russian forces over the previous 24 hours, Ukraine’s presidential office reported Monday.On Monday morning, Russian missiles hit the city of Avdiivka...

Police search for car of interest in fatal hit and run in West Loop

Published Wed, 25 Dec 2024 17:49:41 GMT

CHICAGO — A man who was killed in a hit and run crash over the weekend has been identified and police are searching for the black Mercedes involved.The medical examiner's office identified James Richard of Plainfield as the 26-year-old who was fatally hit by a black Mercedes that ran a stop sign on the city's West Side Saturday. According to police, officers responded to calls of a hit and run near the 800 block of West Washington Boulevard around 1:06 a.m. where a car was observed running a stop sign and striking a 26-year-old man crossing the street. Man critically injured in shooting on West Side Police say the black Mercedes fled eastbound and Richard was transported to Stroger Hospital in critical condition with blunt force trauma to the body. He was pronounced dead shortly after.Contact police if any information is recovered on the incident or vehicle.

DOJ investigates deputies accused of shoving guns in mouths of 2 Black men

Published Wed, 25 Dec 2024 17:49:41 GMT

BRANDON, Miss. (AP) — Several deputies from a Mississippi sheriff’s department being investigated by the Justice Department for possible civil rights violations have been involved in at least four violent encounters with Black men since 2019 that left two dead and another with lasting injuries, an Associated Press investigation found.Two of the men allege that Rankin County sheriff's deputies shoved guns into their mouths during separate encounters. In one case, the deputy pulled the trigger, leaving the man with wounds that required parts of his tongue to be sewn back together. In one of the two fatal confrontations, the man's mother said a deputy kneeled on her son's neck while he told them he couldn't breathe.Police and court records obtained by the AP show that several deputies who were accepted to the sheriff's office's Special Response Team — a tactical unit whose members receive advanced training — were involved in each of the four encounters. In three of them, the heavily re...