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Silicon Valley Bank shutters Massachusetts location amid nationwide modern-day bank run

Published Thu, 20 Feb 2025 11:30:37 GMT

It’s 1929 all over again as one of the nation’s largest banks, SVB Financial, shuts down.A Massachusetts police officer exited the bank’s branch in Wellesley at around 11:35 a.m. Friday to announce to the throng of people desperate to access their savings that the FDIC had closed the bank and there would be no more money.The crowd, perhaps 50-strong, was angry but more confused. They asked for a Silicon Valley Bank representative to confirm the news, and a man named Dennis came out and did so. “Could they at least access their safety deposit boxes,” someone asked? “No,” the man told them; “the bank was closed.”It’s a scene playing out in towns across the country as the Silicon Valley-based bank melts down following a Thursday where its stock fell off the cliff — dropping 60% in one day. For those in the crowds, it’s feeling like 1929 all over again as customers converge on the bank’s locations in a modern-day bank run.“Least they could do is open ...

Former NBA star Shawn Kemp released after drive-by shooting arrest

Published Thu, 20 Feb 2025 11:30:37 GMT

Retired NBA All-Star Shawn Kemp was released Thursday from a jail in Washington state and wasn’t immediately charged following his arrest on suspicion of a drive-by shooting felony, officials said.Kemp, who played eight of his 14 seasons with the Seattle SuperSonics, was released around 1 p.m. local time after prosecutors declined to file charges, pending a further investigation, the Pierce County Sheriff’s Office confirmed.“They still can decide to charge him later,” a spokesman for the sheriff’s office told the Daily News.Kemp, 53, was booked at a Pierce County jail just before 6 p.m. local time Wednesday, hours after police say they responded to a report of shots fired at the Tacoma Mall in Tacoma, Wash.“Responding officers determined an altercation had occurred between two parties in vehicles,” the Tacoma Police Department said. “One of the drivers fired off several rounds at the occupants of the other vehicle. The victim vehicle f...

Where to find a Narcan vending machine in San Diego

Published Thu, 20 Feb 2025 11:30:37 GMT

SAN DIEGO -- A new vending machine in San Diego is supplying residents with something other than snacks and beverages. The County Communications Office said Wednesday a naloxone, or Narcan, vending machine is now in operation at the McAlister South Bay Regional Recovery Center in Chula Vista, which is located at 1180 3rd Ave. Suite C-3. Xylazine or ‘Tranq’ is a new drug threat in West Coast cities, including San Diego Officials called the new addition a "groundbreaking resource" that is available for anyone in the region. You don’t have to be a member of the center to use it.What is naloxone? According to the Centers for Disease Control and Prevention, it's a life-saving medication that can reverse an overdose from opioids when it's given to a person in time. This includes excessive doses of heroin, fentanyl and prescription opioid medications.The county said the new Narcan vending machine "will put opioid overdose medication in the hands of anyone who wants it, free of charge."Th...

‘Just want to help people’: Canadian wildfire experts training Bolivian counterparts

Published Thu, 20 Feb 2025 11:30:37 GMT

On her first trip to Bolivia in January, Jane Park hiked about 20 kilometres with national park rangers to a steep, remote area with endangered palm trees and the Andean, or spectacled, bear.Much of the area in ANMI-El Palmar, one of the country’s protected areas, had been burned in a wildfire.“A lot of areas where they are fighting fires are extremely remote,” Park said in a recent interview from Banff, Alta.Park, who’s on an unpaid leave from her regular job as a fire and vegetation specialist in Banff National Park, is one of two Alberta experts spending some of their off-season helping the Bolivian government prepare for an increase in fires due to climate change.It’s part of Global Affairs Canada’s technical assistance partnership, which allows Canadians from different backgrounds to share their expertise in other countries.Park came across the opportunity online and got the contract with Alinea International, a development consultancy that a...

Quebecor boss Pierre Karl Peladeau buys CFL’s Montreal Alouettes

Published Thu, 20 Feb 2025 11:30:37 GMT

Pierre Karl Peladeau is the new owner of the Montreal Alouettes.The Montreal businessman was unveiled as the franchise owner by the CFL at a news conference at Olympic Stadium on Friday. Peladeau, the president/chief executive officer of Quebecor Inc., has a reported net worth of US$1.9 billion.Peladeau, a former leader of the Parti Quebecois, will represent the Alouettes as their lead governor on the CFL’s board of governors.“I am delighted to be the new owner of the Montreal Alouettes, a team with a long history that has a significant impact on our community because it brings us together,” Peladeau said in a statement. “This team that I saw rise to the top of the CFL and win the Grey Cup is our team; it’s the fans’ team.“I want to bring stability and a long-term vision, which will allow us to put Montreal back at the top of Canadian football. I want to thank our fans for their continued loyalty.”The move comes just over a week after ...

BMO Financial Group signs deal to buy Air Miles loyalty rewards program

Published Thu, 20 Feb 2025 11:30:37 GMT

BMO Financial Group announced a deal Friday to buy the Air Miles loyalty rewards program in Canada after its U.S. parent company filed for bankruptcy.Financial terms of the bank’s agreement with LoyaltyOne Co. were not immediately available.Air Miles president Shawn Stewart said the deal “brings stability to the Air Miles program.”“It gives us the opportunity to grow the program for our collectors and partners, and confidence in the future of the program,” he said in an interview. “Our U.S. parent company had a ton of debt and that just constrained our ability to invest in value for the collector.”The deal has no impact on reward miles balances or the ability to redeem miles, Stewart added. Air Miles is one of the oldest and largest loyalty programs in Canada, with nearly 10 million active users. Collectors earn Air Miles through participating stores, services and payment cards, which can be redeemed for “aspirational rewards” li...

S&P/TSX composite down in late-morning trading, U.S. stock markets up

Published Thu, 20 Feb 2025 11:30:37 GMT

TORONTO — Canada’s main stock index was down in late-morning trading, led lower by losses in the financial sector, while U.S. stock markets were up on the final day of the trading week.The S&P/TSX composite index was down 23.79 points at 20,062.93.In New York, the Dow Jones industrial average was up 153.63 points at 32,408.49. The S&P 500 index was up 14.71 points at 3,933.03, while the Nasdaq composite was up 18.51 points at 11,356.86.The Canadian dollar traded for 72.55 cents US compared with 72.52 cents US on Thursday.The April crude contract was up 46 cents at US$76.18 per barrel and the April natural gas contract was down five cents at US$2.49 per mmBTU.The April gold contract was up US$32.30 at US$1,866.90 an ounce and the May copper contract was up a penny at US$4.05 a pound.This report by The Canadian Press was first published March 10, 2023.Companies in this story: (TSX:GSPTSE, TSX:CADUSD=X)The Canadian Press

German church reform assembly calls for same-sex blessings

Published Thu, 20 Feb 2025 11:30:37 GMT

BERLIN (AP) — A meeting between Germany’s Catholic bishops and lay representatives agreed Friday to call for the church to approve blessings of same-sex unions.The three-day gathering, which is part of the “Synodal Path” launched in 2019 in response to the sex abuse crisis that has rocked the church in Germany and many other countries, brings together more than 200 representatives of Catholic life in Germany.A majority of 176 participants voted in favor of same-sex blessings starting from March 2026. Fourteen participants voted against them, while 12 abstained. Crucially, the necessary two-thirds backing of the 67 German bishops was also reached, the news agency dpa reported.Many congregations already perform such ceremonies, but these aren’t formally approved by the Catholic Church, a position the Vatican restated in 2021.In an effort to assuage concerns from Rome, German church leaders have insisted the process won’t trigger a schism.However, Pope Francis himself said in a J...

Florida abortion ban could have impact beyond the state

Published Thu, 20 Feb 2025 11:30:37 GMT

TALLAHASSE, Fla. (AP) — Less than a year after Florida Gov. Ron DeSantis, an expected GOP presidential contender, signed a ban on abortions after the 15-week mark of pregnancy, he’s showing support for an even stricter ban introduced this week by state lawmakers. His position could have implications on the availability of abortion not only in Florida but across the South – and also figure into the 2024 presidential race.THE CURRENT FLORIDA LAW In June 2022, the U.S. Supreme Court overturned the 1973 Roe v. Wade ruling, giving control over abortion to the states. Some conservative legislatures passed bills years in advance that would impose abortion bans if Roe were overturned. Florida wasn’t among those earlier states, but lawmakers acted after a leak of a draft version of the new abortion ruling, Dobbs v. Jackson Women’s Health Organization, in January 2022.Florida lawmakers agreed to ban abortion after 15 weeks, with an exception for the life of the woman but not for rape or inces...

Macron insists pension reform is needed, despite protests

Published Thu, 20 Feb 2025 11:30:37 GMT

PARIS (AP) — French President Emmanuel Macron insisted on the need for raising the retirement age from 62 to 64 in order to make the French pension system financially sustainable in the coming years, in a letter to workers’ unions released Friday. The move comes after more than a million demonstrators marched in cities and towns across France this week as train and metro drivers, refinery workers and others started open-ended strikes against the centrist government’s plan. Unions called for more protests on Saturday. They are demanding the withdrawal of the bill, which is being debated by the French Senate this week. According to the letter provided by the president’s office, Macron said he made the choice to “make the French work a little longer” because other options, which he rejected, would have involved “decreasing pensions, raising taxes or letting our children and grandchildren carry the financial burden.” Union leader Francois Hommeril of the CFE-CGC, which...