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Jill On Money: Bank failures put Fed in the hot seat

Published Tue, 25 Feb 2025 22:15:02 GMT

Federal Reserve officials were under fire as they convened their two-day policy meeting, during which they decided to raise short-term rates by a quarter of a percentage point to 4.75-5.00 percent. Despite uncertainty in the banking sector, the Fed said that still-high inflation required action.Related ArticlesEconomy | Summer travel is likely to remain hot this year, so book early Economy | How being neurodiverse affects your relationship with money Economy | Have a job and a side gig? Watch for these missteps Economy | How to fight the ‘pink tax’ amid inflation Economy | Credit or debit card for kids: Which is best? The rate decision, along with events of the previous two weeks at Silicon Valley Bank (SVB), Signature Bank, and Credit Suisse, have put the Fed’s policies and oversight in the hot seat.Although many of the problems at these banks were unique to them, the broader issue may be that the Fed a...

Malaysia, Cambodia sign pacts on Cambodian workers

Published Tue, 25 Feb 2025 22:15:02 GMT

PHNOM PENH, Cambodia (AP) — Malaysia and Cambodia signed two agreements on Monday on the employment of Cambodian migrant workers, as Malaysian Prime Minister Anwar Ibrahim made his first visit to Phnom Penh since becoming his country’s leader in November.Anwar was accompanied by his ministers of foreign affairs, religious affairs and human resources, Malaysia’s foreign ministry said ahead of his one-day trip.He held talks Monday morning with Cambodian Prime Minister Hun Sen and was to meet with King Norodom Sihamoni and top lawmakers later in the day.The two governments signed agreements on the recruitment, employment and repatriation of Cambodian workers in Malaysia. Malaysia, one of Southeast Asia’s richer countries, employs low-wage workers from Cambodia, one of the region’s poorer nations.Anwar’s trip comes during the Muslim holy month of Ramadan. He was also scheduled to meet with members of Cambodia’s small Islamic community, almost all of whom belong to the Cham ethnic ...

Arrestan al actor Jonathan Majors por cargos de agresión en Nueva York, según la Policía

Published Tue, 25 Feb 2025 22:15:02 GMT

(CNN) — El actor Jonathan Majors, quien recientemente protagonizó “Creed III” y “Ant-Man and the Wasp: Quantumania”, fue arrestado este sábado por la mañana en una supuesta disputa doméstica, dijo la policía de Nueva York.Majors, de 33 años, fue detenido luego de una llamada al 911 realizada desde un apartamento en el vecindario de Chelsea en Manhattan, según un comunicado del Departamento de Policía de Nueva York.“La víctima informó a la policía que fue agredida”, dice el comunicado. La mujer de 30 años tenía “lesiones menores en la cabeza y el cuello”, dijo la policía.Majors enfrenta cargos de estrangulación, agresión y acoso, según la policía de Nueva York.Arrestan en EE.UU. al multimillonario chino Guo Wengui acusado de presunta conspiración de fraude por estafa a inversores por más de US$ 1.000 millonesJonathan Majors, visto aquí asistiendo al estreno europeo de “Creed III” en Londres, Inglaterra, fue arrestado el 25 de marzo de 2023 y enfrenta múltiples cargo...

Jefa del FMI advierte sobre “riesgos” para la estabilidad financiera mundial, pero China muestra signos de recuperación

Published Tue, 25 Feb 2025 22:15:02 GMT

Hong Kong (CNN) — La directora del Fondo Monetario Internacional pidió una mayor vigilancia sobre el sistema financiero mundial durante un discurso en China este domingo en el que también señaló los “brotes verdes” que están surgiendo en la segunda economía más grande del mundo.“Los riesgos para la estabilidad financiera han aumentado”, dijo la directora del FMI, Kristalina Georgieva, durante los comentarios en el Foro de Desarrollo de China en Beijing.Georgieva elogió la rapidez con que los responsables políticos actuaron en respuesta a la crisis bancaria, citando la reciente colaboración de los principales bancos centrales para impulsar el flujo de dólares estadounidenses en todo el mundo.“Estas acciones han aliviado el estrés del mercado hasta cierto punto”, dijo. “Pero la incertidumbre es alta, lo que subraya la necesidad de vigilancia”.Qué significa la crisis bancaria para las tasas hipotecarias en Estados UnidosKristalina Georgieva, directora del FMI, en un foro sobre de...

Chesapeake Bay restoration to receive over $1 million in federal funding

Published Tue, 25 Feb 2025 22:15:02 GMT

The Chesapeake Bay Trust nonprofit based in Annapolis, Maryland, will receive over a $1 million in funding from the federal government to strengthen tidal wetland restoration, public education, and bolster green infrastructure projects.In a news release Friday, Maryland Senators Chris Van Hollen and Ben Cardin and Congressman John Sarbanes announced that $1,129,063 in federal funding from the Infrastructure Investment and Jobs Act will go toward local projects to restore, preserve and protect the Chesapeake Bay.“The health of the Chesapeake Bay is vital to the health of our communities and our regional economy. We fought to pass the infrastructure modernization law — and within it to boost resources for our efforts to protect the Bay — in order to invest in projects like this that will help restore our wetlands and habitats that serve as essential filters to prevent pollutants from poisoning the Bay,” said Van Hollen.BISHOPS HEAD, MARYLAND — NOVEMBER 12: In this aerial view, Crab Po...

No more PJs? Changes may be coming to Fairfax Co. schools dress code

Published Tue, 25 Feb 2025 22:15:02 GMT

Changes may be coming to Fairfax County Public Schools’ dress code, including one that would prohibit students from wearing pajamas or sleepwear to class.As part of proposed changes to its Students Rights and Responsibilities handbook, students also wouldn’t be allowed to wear jackets with hoods up during class time or in the time in the hallways between classes.More Virginia NewsMore Fairfax County NewsThe county reviews the comprehensive guide, SR&R for short, every year. In a Zoom meeting with the school community about the proposed changes last week, Michelle Boyd, assistant superintendent for special services, said notable changes span several topics: dress code, substance misuse, harassment, hazing and bullying.Part of the drafted dress code includes a line that explains clothes that can’t be worn to school include “pajamas or sleepwear, unless worn during Spirit Week or pajama day.”However, it doesn’t elaborate on what the school system...

Tony Bennett’s daughter Antonia plays DC’s Blues Alley where she once found a ‘jazz cat’

Published Tue, 25 Feb 2025 22:15:02 GMT

Hear our full conversation on my podcast “Beyond the Fame.” toggle audio on and off change volume download audio WTOP's Jason Fraley previews Antonia Bennett at Blues Alley (Part 1) $(function () { $('.wtop-audio-container .fa-play').on('click', function(){ var audio_filename = $('div.wtop-audio-file').data("mp3-url"); ga('send', 'event', 'Audio', 'play', audio_filename); }); }); The phrase “jazz cat” usually describes a musician or fan of the genre, but it’s actually real in the nation’s capital.Antonia Bennett found a black-and-white stray feline wandering outside of the historic supper club Blues ...

Amenaza de tormentas fuertes se desplaza a la costa este de EE.UU. este lunes

Published Tue, 25 Feb 2025 22:15:02 GMT

(CNN) — Las tormentas severas se dirigen hacia la costa este de Estados Unidos este lunes después de traer casi 100 informes de tormentas este domingo, la mayoría de los cuales fueron a través del sureste.El Centro de Predicción de Tormentas ha emitido un leve riesgo de tormentas severas, nivel 2 de 5, para partes del sur de Georgia y el sur de Carolina del Sur, incluyendo Charleston, Savannah y Albany.Las principales amenazas son granizo grande, viento dañino y una probabilidad aislada de tornado.Un riesgo marginal de tormentas severas, nivel 1 de 5, se extiende por el sureste con vientos y granizo como factores principales. Estas tormentas remitirán a primeras horas de la tarde.Las tormentas y tornados de Estados Unidos dejaron 26 muertosEste lunes por la tarde también habrá tormentas en el sureste de Texas y en Luisiana, con granizo de gran tamaño como principal amenaza.En total, hay más de 20 millones de personas bajo amenaza de tormentas severas este lunes, incluyendo Hou...

First Citizens Bank to purchase assets of Silicon Valley Bank

Published Tue, 25 Feb 2025 22:15:02 GMT

(CNN) — First Citizens Bank is buying most of the business of Silicon Valley Bank, the US tech lender that failed earlier this month.The Federal Deposit Insurance Corporation (FDIC) said in a statement late Sunday it had agreed that First-Citizens Bank & Trust Company would buy all of SVB’s deposits and loans that regulators had transferred to a bridge bank in the wake of its collapse.Seventeen former branches of SVB will begin operating as “Silicon Valley Bank, a division of First Citizens Bank,” on Monday, First Citizens said. SVB customers should continue to use their current branch until they receive notice from First Citizens that systems have been converted to allow full service at its wider branch network, FDIC added.SVB was shut down by regulators on Friday, March 10, after clients withdrew $42 billion in a single day. It was the second-largest bank failure in US history, after Washington Mutual in 2008. The FDIC agreed to guarantee all depos...

Malcolm Brogdon: Celtics ‘want the No. 1 seed’ after losing top spot to Bucks

Published Tue, 25 Feb 2025 22:15:02 GMT

From Nov. 14 to Feb. 26, the Celtics held the top seed in the Eastern Conference for all but just five days. But after their loss to the Knicks on Feb. 27, and coupled with the Bucks’ 16-game winning streak, lost its grip on the No. 1 spot and a slide that included four losses in five games put them even further behind.The Celtics suddenly found themselves three games behind the Bucks on March 14 and even briefly slid to third behind the 76ers.According to Malcolm Brogdon, it was a wake-up call.Some Celtics have dismissed the importance of getting the No. 1 seed. But they look focused entering the final stretch. Boston earned an impressive win at Sacramento to finish its road trip last week and carried that momentum back home, where they strung together dominant victories over the Pacers and Spurs. Brogdon thinks they’re carrying some extra motivation after losing hold of the No. 1 seed – and it’s their goal to get it back.“I think we’re getting more and more locked in,” Brogd...