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Who benefits by lifting the cap on insured deposits?

Published Tue, 25 Feb 2025 16:27:17 GMT

Stocks surged Tuesday after Treasury Secretary Janet Yellen indicated the government may be open to further assistance for troubled banks.San Francisco's First Republic closed nearly 30% higher as traders rushed to snap up bargain-priced shares of regional banks.But what sort of assistance does the government have in mind?At this point, Yellen is being noncommittal."There’s time to evaluate whether some adjustments are necessary in supervision and regulation to address the root causes of the crisis," she said at a conference organized by the American Bankers Assn."I don’t want to speculate at this point on what those adjustments might be. What I’m focused on is stabilizing our system and restoring the confidence of depositors."Fair enough. But some Democratic lawmakers are saying it's time to either raise the $250,000 cap on insured bank deposits or do away with the cap completely.This, they say, would prevent runs on banks because all deposits would be covered.And that's undoubtedl...

Northern Nights Music Festival Launches New Strain

Published Tue, 25 Feb 2025 16:27:17 GMT

Known for regularly pioneering cannabis and festivals, Northern Nights Music Festival is doing it again this year with an official strain for its 10th Anniversary. Being in the heart of The Emerald Triangle in Humboldt County was always going to make the weekend pretty green, but the festival has really taken its geography to heart over the years. In 2019, Northern Nights was the first music festival to have legal sales and consumption at the event. Last year they upped it a notch with dispensaries at multiple stages so you could still enjoy the tunes while you waited for your weed. The festival argues, reasonably, it is continuing that innovation this year by becoming the first festival to create its own strain via a collaboration with Humboldt Seed Company (HSC). “The new “Northern Nights” strain furthers the commitment of the organizers to revolutionize the ways that cannabis culture can be showcased in a music festival format while supporting local curators,” festival organizers...

A Royal Affair: from Keith Milo to Maye Musk among attendees of Veronika Jeanvie’s Paris Fashion Air Event

Published Tue, 25 Feb 2025 16:27:17 GMT

(Photos of Keith Milo by LuLu Shing)      As Paris Fashion Week kicked off, the Paris Fashion Air event was not just any run-of-the-mill fashion soiree. It was a celebration of fashion, creativity, and innovation. Held in a Saint-Germain-des-Prés aristocratic palace, the venue was once home to iconic fashion greats such as Yves Saint Laurent and Oscar de la Renta. This exclusive cocktail event was hosted by Veronika Jeanvie, the longtime collaborator of the late legend Paco Rabanne, famously known for his signature futuristic and avant-garde style. The party was a visual feast of metallic fabrics, geometric shapes, and unconventional designs. But the star of the event wasn’t just the fashion. It was the attendees who came from all over the world to be a part of this prestigious event. Among them was Maye Musk, the mother of tech magnate Elon Musk. The 73-year-old model and dietitian turned heads with her chic magenta suit ensemble. She was the epitome of elegance and grace, a ...

Man dies after falling tree smashes moving vehicle in Portola Valley

Published Tue, 25 Feb 2025 16:27:17 GMT

A man was killed when a tree fell onto of his car while the vehicle was in motion Tuesday on Alpine Road in Portola Valley, according to the California Highway Patrol.Winds were swirling throughout the Bay Area as a powerful storm moved over the region on Tuesday afternoon, bringing down trees throughout the region.The CHP received reports of the incident at 1:34 p.m. Tuesday. The vehicle was traveling eastbound on Alpine Road toward Highway 280. The tree fell while the vehicle was in motion, killing the driver, who was the sole occupant of the car. As of 2:45 p.m. there were multiple trees down in the same area, per CHP.The driver was not immediately identified by authorities, pending confirmation of their identity and notification of next of kin.This is a developing story. Check back for updates.

Map: PG&E power outages in the Bay Area

Published Tue, 25 Feb 2025 16:27:17 GMT

Widespread electric outages were reported Tuesday afternoon as high winds hit the Bay Area.Zoom in on the map above to see the perimeters of reported PG&E outages; click on an icon to find the extent and status of the outage. The search field can be used to find a specific address.PG&E outages not shown on the map can be reported online or by calling (800) 743-5002.For information on outages in Palo Alto, which has a city-run utilities department, see the department’s online map or its Twitter account.Related ArticlesWeather | Top 10 historic Sierra snow seasons Weather | Bay Area storm: Severe winds hit Santa Cruz, with more rain forecast for Tuesday afternoon Weather | Opinion: What happened in Pajaro isn’t just a ‘natural’ disaster Weather | ‘It’s really sad’: Seacliff State Beach pier demolition process begins Weather | Monterey County agencies assessing conditions for Paja...

East Bay man charged with killing driver in wrong-way Highway 4 crash, fleeing onto nearby Pittsburg BART tracks

Published Tue, 25 Feb 2025 16:27:17 GMT

MARTINEZ — Contra Costa prosecutors have filed vehicular manslaughter and reckless driving charges against an East Bay man who allegedly crashed a pickup truck into another vehicle while driving the wrong way on Highway 4, killing a 50-year-old motorist.Michael Renard Armstrong, 53, of Richmond, was charged Monday with killing 50-year-old James Kuang in the Dec. 13, 2022 crash. Armstrong was also charged with fleeing from the crash by allegedly running onto nearby BART tracks in a failed attempt to evade police. BART officers arrested him on the transit agency’s property, authorities say.Armstrong was allegedly driving a Dodge Durango the wrong way on eastbound lanes of Highway 4 in Pittsburg when he allegedly crashed into Kuang’s Honda Accord at around 11 a.m., authorities say. Kuang was killed and a passenger was seriously hurt.After he was arrested, Armstrong was hospitalized and placed into a medical coma, authorities say. At the time, police suspected Armstron...

Another storm hits Bay Area: Driver killed by falling tree in San Mateo County

Published Tue, 25 Feb 2025 16:27:17 GMT

(KRON) -- Flights have been delayed at SFO and road closures are in effect as the latest in a series of atmospheric rivers impacts the Bay Area. The storm is projected to bring high winds and significant rainfall to the region impacting both the morning and evening commutes. For the Bay Area, the biggest impacts will be slick and flooded roads and very strong winds through the afternoon resulting in potential downed trees and power outages. After 14 atmospheric rivers, how full are California’s reservoirs? Follow along for the latest Bay Area storm updates:Tuesday, March 212:45 p.m. -- Driver killed when tree falls on car in San Mateo CountyA tree fell on a vehicle that was driving on Alpine Road in San Mateo County near the 280 and the driver was killed, KRON4 has confirmed.2:26 p.m. -- Flood waters, high winds on Highway 1 in Mill Valley#BREAKING flood waters rising quickly and high winds picking up. This is Highway 1 in Mill Valley off freeway. @CaltransHQ shutting down half o...

Glass falls from another SF high-rise

Published Tue, 25 Feb 2025 16:27:17 GMT

SAN FRANCISCO (KRON) -- Pieces of glass have fallen off a San Francisco high-rise located at 50 California, KRON4 has learned. The glass pieces fell on the Sacramento Street side of the building. Another storm hits Bay Area: Highway 17 reopens in both directions Sacramento Street and Davis Street are currently blocked off. The San Francisco Fire Department is on the scene. The glass is being described as spandrel glass, so it's unlikely to have come from a window.Last week, glass fell from 555 California Street during high winds. The four blocks surrounding the building were shut down for multiple hours.

21-year-old man shot and killed at Concord strip mall

Published Tue, 25 Feb 2025 16:27:17 GMT

(KRON) -- A 21-year-old man was shot and killed at a Concord strip mall on Tuesday, KRON4 has confirmed. The family of the deceased confirmed the killing but have asked for privacy as they console one another. The Concord Police Department confirmed that at approximately 9:48 a.m., they received a call regarding gunshots heard in the area of Solano Way and Broadmoor Avenue. San Jose Fire Chief apologizes for Pink Poodle strip club incident When officers arrived on the scene, they located two people suffering from gunshot wounds. One person was pronounced deceased at the scene and the other was transported to the hospital, police said.The investigation is ongoing, and police declined to provide any more details at this time. A witness told KRON4 they saw a man running across a parking lot, then a woman who followed him afterward. This is a developing story. Check back for updates.

Red Cross of Bay Area Gala to be emceed by KRON4's James Fletcher

Published Tue, 25 Feb 2025 16:27:17 GMT

SAN FRANCISCO (KRON) -- KRON4 Anchor James Fletcher will emcee an American Red Cross of the Bay Area event Friday honoring 2022 Red Cross Gala honorees. The Red Cross Gala is a volunteer-led fundraiser that's now in its 28th year, according to a Red Cross press release. The event, which is set for this Friday, March 24 at the California Academy of Sciences in San Francisco's Golden Gate Park, is dedicated to recognizing local heroes and supporting the Red Cross mission "to prevent and alleviate human suffering in the face of emergencies by mobilizing the power of volunteers and the generosity of donors," the press release said.“It’s an honor to be Co-Chair of this incredible event,” said Kenzie Ferguson, who is serving alongside fellow Co-Chair Elizabeth J. Folger. “As a donor and board member, I am inspired by the mission of the Red Cross, the compassion of the volunteers and the ability of the Red Cross to reach people in need when it is most critical. The Gala is a big part of m...