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The banking crisis isn’t over. But how bad will it get?

Published Tue, 25 Feb 2025 17:31:23 GMT

By KEN SWEET and MICHELLE CHAPMAN (AP Business Writer)NEW YORK (AP) — Uncertainty continues to pummel the banking industry, despite assurances from financial regulators and bankers such as Jamie Dimon this week that the worst of the recent crisis is over and the health of the banking system remains strong.Bank shares have sold off on Wall Street this week following the government seizure and subsequent sale of First Republic Bank to JPMorgan. It was the second-largest bank failure in U.S. history and the third failure of a midsize lender in two months. While many thought the sale of First Republic “would stop the ‘who’s next?’ conversations, investors are clearly continuing to focus on remaining players that are deemed the weakest” analysts at UBS wrote in a note to clients.The bigger worry is that the bank failures might lead to doubts about relatively healthy banks, creating a financial contagion that could impact the wider economy. Averting tha...

Jake Burger — who leads Chicago White Sox in HRs — goes on 10-day injured list with a strained left oblique

Published Tue, 25 Feb 2025 17:31:23 GMT

The Chicago White Sox will be without the team leader in home runs after placing infielder Jake Burger on the 10-day injured list with a strained left oblique.“There was some soreness there in the side,” Sox manager Pedro Grifol said before Thursday’s game against the Minnesota Twins at Guaranteed Rate Field. “That area’s a little difficult.”Burger suffered the injury during a fourth-inning at-bat in Wednesday’s 6-4 victory against the Twins.“It was just a freak thing,” Burger said after Wednesday’s game. “I was talking to the training staff after it happened. Sometimes freak things happen. Obviously it was a weird pitch and a weird swing.”Burger has a .224/.312/.612 slash line with five doubles, seven home runs and 14 RBIs in 23 games.The Sox recalled infielder Lenyn Sosa from Triple-A Charlotte. He hit .151 (8-for-53) with one homer, three RBIs and three runs in 16 games with the Sox from April 11-30 before be...

Chicago Cubs call up top prospect Matt Mervis — and he’ll be at Wrigley Field on Friday

Published Tue, 25 Feb 2025 17:31:23 GMT

The Chicago Cubs are adding some thump to their lineup.First baseman Matt Mervis has been called up, sources confirmed to the Tribune. He will join the team Friday for the series opener against the Miami Marlins at Wrigley Field.A strong 2022 minor-league season positioned Mervis, 25, for this opportunity. He smashed his way through the Cubs’ minor-league system in 2022, advancing through three levels from High-A South Bend to Triple-A Iowa by the end of the season.Mervis signed with the Cubs as an undrafted free agent in 2020 when the draft lasted only five rounds because of the pandemic. A two-way player out of Duke, Mervis has shown a keen eye and patient approach, cutting down on his strikeouts each time he moved up to the next affiliate.In 24 games at Triple A this year, Mervis produced a .286/.402/.560 slash line with six home runs, seven doubles and 27 RBIs.Mervis should get ample opportunities at first base and the designated hitter spot, especially against right-hande...

Ex-NBA star Shawn Kemp pleads not guilty in parking lot shooting

Published Tue, 25 Feb 2025 17:31:23 GMT

Former NBA All-Star Shawn Kemp pleaded not guilty Thursday in connection with a shooting in a Washington State parking lot in March.Kemp, 53, is accused of firing three shots at an occupied vehicle outside Tacoma Mall on March 8. None of Kemp’s shots struck their intended target, and he was charged with first-degree assault.The former Seattle SuperSonic argued that he fired in self-defense after someone in the vehicle shot at him first. Police claim that surveillance video shows otherwise.Shortly before the shooting, Kemp’s car was burglarized in Seattle and his cellphone was stolen, according to his defense attorneys. Kemp tracked his phone to a Toyota 4Runner that was parked outside Tacoma Mall.According to police, surveillance video shows Kemp arriving in the parking lot and stopping a few spots away from the Toyota. He then exits his car, grabs a small bag, walks toward the alleged thief and opens fire, investigators said.The Toyota driver ducked at least one of the ...

Mets Notebook: Buck Showalter relying on righties in bullpen

Published Tue, 25 Feb 2025 17:31:23 GMT

DETROIT — Once again, the Mets are without a lefty in the bullpen.The club made several transactions Thursday morning in order to make room on the roster for right-hander Justin Verlander, who was activated off the injured list ahead of his first start of the season, and Dominic Leone, a free agent acquisition who joined the team in Detroit.The Mets optioned right-handed reliever John Curtiss and left-handed reliever Zach Muckenhirn to Triple-A Syracuse, they returned right-hander Jose Butto to Syracuse after the pitcher was brought up to serve as the 27th man for Thursday’s doubleheader, and they moved catcher Omar Narvaez to the 60-day IL.The move to send Muckenhirn back to Triple-A isn’t a huge surprise, but it does leave the Mets without a left-hander in the bullpen. Manager Buck Showalter said Brooks Raley is “doing well” dealing with his elbow inflammation but he isn’t eligible to come off IL yet having been placed on there last weekend (the...

Tech review: Emotn N1, a projector with Netflix built-in

Published Tue, 25 Feb 2025 17:31:23 GMT

Jim Rossman | Tribune News ServiceMy wife is enamored with the idea of outdoor movie nights.We’ve all seen it on TV or in commercials — throw up a sheet on the side of the garage, toss a blanket on the ground or perhaps lawn chairs for the older folks and fire up the projector to watch a movie outdoors.I think I found an affordable projector that’ll finally make outdoor movie night happen at our house.I’ve been testing the Emotn N1 1080P Smart Projector for a few weeks and I’m really impressed with its ease of use.The projector is the first I’ve reviewed that’s an officially licensed Netflix projector.What does that mean?When you turn on the projector, it’ll ask you to connect it to the internet, through Wi-Fi or Ethernet, and then you’ll Netflix launch and ask you to log in.Once you log into your Netflix account, you can stream all the Netflix content without having to connect a computer or phone.In fact, after you make the internet connection (I used 5GHz Wi-Fi), you can press sho...

Toronto lagging in post-pandemic foot traffic recovery, data shows

Published Tue, 25 Feb 2025 17:31:23 GMT

Data released by the University of Toronto’s School of Cities suggests post-pandemic recovery in foot traffic in downtown Toronto is lagging far behind other major North American cities.Researchers have been keeping track of foot traffic since the early days of the COVID-19 pandemic by analyzing smartphone data.The numbers suggest that between March and May of 2020, foot traffic in downtown Toronto dropped to about 39 per cent pre-pandemic levels.The drop aligned with changes seen in other major North American cities including New York City, which dropped to 31 per cent, Boston down to 32 per cent, and Montreal down to 35 per cent.Data places Toronto 55th in the list of 63 North American cities in recovery of downtown foot traffic post-pandemic.Toronto saw a drop as low as 31 per cent pre-pandemic levels between March and May of 2021 with lockdowns having a significant impact.The numbers have been steadily improving since then, but the most recent data between December 2022 and Febr...

Zelenskyy wants Putin trial; Russia accuses US on drones

Published Tue, 25 Feb 2025 17:31:23 GMT

THE HAGUE, Netherlands (AP) — Ukraine and Russia pressed their wartime rhetoric Thursday, with Ukrainian President Volodymyr Zelenskyy expressing confidence that Vladimir Putin would be convicted of war crimes, and the Kremlin alleging that the U.S. was behind what it called an assassination attempt against the Russian president.The countries’ leaders have personally attacked each other multiple times during the war that Russia started by invading Ukraine in February 2022. The latest flare-up came Wednesday, with Russia’s claim that Ukraine had attacked the Kremlin in Moscow with drones meant to assassinate Putin.Zelenskyy denied that Ukrainian forces were responsible for the purported drone attack. The Kremlin promised unspecified retaliation for what it termed a “terrorist” act, and pro-Kremlin figures called for the assassinations of senior Ukraine leaders.Uncertainty still surrounds exactly what happened in the purported attack.Putin’s spokesman on Thursday accused t...

Prosecutor: Baltimore police officer sold pot on the clock

Published Tue, 25 Feb 2025 17:31:23 GMT

BALTIMORE (AP) — Two Baltimore police officers were indicted this week in separate cases, including an 11-year department veteran accused of selling drugs on the clock — allegations that come as the agency seeks to rebuild its reputation after the Gun Trace Task Force corruption scandal ruptured public trust.Officer Cejus Watson was supposed to be working at police headquarters in downtown Baltimore on Sept. 29, but he left during his shift and drove to a Baltimore County tattoo parlor where he sold marijuana, according to a grand jury indictment. Watson had been previously charged with marijuana distribution in Baltimore County, a separate legal jurisdiction, and was suspended without pay as a result; that case, which pertains to the same alleged drug deal, is ongoing with trial scheduled for June.Baltimore State’s Attorney Ivan Bates, who took office as the city’s top prosecutor in January, announced the indictments at a news conference Thursday morning, saying they demonstrate hi...

Ford government to launch audits of six municipalities’ housing finances

Published Tue, 25 Feb 2025 17:31:23 GMT

Ontario’s minister of municipal affairs and housing says he is moving forward with audits of six municipalities to see if there will be any “potential or perceived” financial hits from a provincial housing law.Municipalities have been raising concerns about a housing law, that, in part, freezes, reduces and exempts fees developers pay on certain builds such as affordable housing.Those fees go to municipalities to pay for infrastructure to support new homes, such as roads and sewers, and they say the provincial changes will leave them $5 billion short.Municipal Affairs and Housing Minister Steve Clark has expressed some skepticism about the impacts, and in late November he announced he would launch third-party audits of “select” municipalities.Today Clark announced that he’s looking for auditors to go over the books of Toronto, Newmarket, Peel Region, Mississauga, Caledon and Brampton – the latter three are part of the upper-tier municipality...