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Federal bailout for Silicon Valley Bank off the table, US’s Yellen says

Published Tue, 25 Feb 2025 15:54:24 GMT

The collapse of Silicon Valley Bank “is clearly a concern,” Treasury Secretary Janet Yellen said Sunday, but a federal bailout is not on the table.“During the financial crisis, there were investors and owners of systemic large banks that were bailed out, and we’re certainly not looking [at that]. And the reforms that have been put in place means that we’re not going to do that again,” Yellen told host Margaret Brennan during an interview on CBS’ “Face the Nation.”SVB’s collapse Friday, the biggest bank failure since the 2008 financial crisis, sent shockwaves through markets across the world. The bank had $209 billion in assets, and many of its depositors were Silicon Valley-backed startups and health-care businesses, some of whom have payrolls to meet this week.But although the collapse is concerning, Yellen emphasized that the American banking system is “safe and well-capitalized” and “resilient.”Americans “can have confidence in the safety and soundness of our banking system,...

No ease in Kyle Lowry’s return as Heat’s pain continues to linger

Published Tue, 25 Feb 2025 15:54:24 GMT

Erik Spoelstra and Kyle Lowry had a plan, one weeks in the making, regarding how the Miami Heat coach would ease his 36-year-old point guard back into the mix after a month away due to knee pain.“We’ve had great talks,” Lowry said. ”He wants to make sure I’m healthy, not to have a setback and have to change the lineup again and change the rotation again.“It’s the great communicator that he is, great coach he is. He said, ‘I want you to make sure you’re healthy and be successful and be smart about it.’ "Then came Saturday night’s game in Orlando, when the rotation again was thrown out of whack, with Tyler Herro being limited by food poisoning.And so the best laid plans turned into . . . Lowry playing 36:09 in the 126-114 overtime loss at Amway Center.“That definitely wasn’t the plan,” Spoelstra said, with the Heat turning their attention to Monday night’s visit to Miami-Dade Arena by the Ut...

Iran says deal with Saudi Arabia will help end Yemen’s war

Published Tue, 25 Feb 2025 15:54:24 GMT

CAIRO (AP) — Iran’s mission to the United Nations says a breakthrough agreement with Saudi Arabia restoring bilateral relations will help bring a political settlement to Yemen’s yearslong war, Iranian state media reported on Sunday.Iran and Saudi Arabia agreed Friday to reestablish diplomatic relations and reopen their embassies after seven years of tensions that brought the two regional powerhouses to the brink of conflict and fueled tensions across the region.Soon after exploding in 2014, Yemen’s conflict turned into a proxy war between Saudi Arabia, which led a military coalition backing Yemen’s internationally recognized government, and Iran, which has aided the country’s Houthi rebels.Iran has long been accused by western governments and U.N. experts of providing weapons to the Houthis. Western militaries have repeatedly intercepted Yemen-bound ships carrying Iranian weapons in the Red Sea. Tehran has denied the accusations of arming the Houthis.China mediated...

How BBC host’s tweet, suspension upended UK’s sports weekend

Published Tue, 25 Feb 2025 15:54:24 GMT

LONDON (AP) — The BBC’s sports coverage was hit with a second day of severe disruptions Sunday as dozens of staff refused to work in solidarity with top soccer host Gary Lineker, who was suspended by the broadcaster after he tweeted criticism of the British government’s asylum policy.The news corporation is reeling from huge fallout and questions over its impartiality after it suspended Lineker, one of English soccer’s most lauded players and the corporation’s highest-paid presenter, on Friday after he compared the Conservative government’s language about migrants to that used in Nazi Germany.He was referring to the government’s plans to stop migrants from arriving in small boats on U.K. shores by introducing tough new laws that would detain asylum seekers, deport them and ban them from ever re-entering the U.K.Immigration and “taking back control” of Britain’s borders has been a hot-button issue in the U.K. since the 2016 Brexit referendum, and Prime Minister Rish...

North Macedonia: 3 migrants and suspected smuggler injured

Published Tue, 25 Feb 2025 15:54:24 GMT

SKOPJE, North Macedonia (AP) — Three migrants and a suspected smuggler were seriously injured in North Macedonia when a car that police were pursuing overturned early Sunday, authorities said. Police said the car was carrying 11 migrants, five from Pakistan, three from India and three from Afghanistan, when it overturned on a highway near the town of Veles. Officers chased the car after it failed to stop at a police signal, according to a police statement. Police identified the suspected smuggler as a 27-year-old Macedonian national. He and three of the passengers were taken to a hospital, but their injuries were not considered life-threatening, and the Macedonian man was later arrested, the statement said. The other migrants, who were believed to have entered the country from Greece, were transferred to a shelter in the southern border town of Gevgelija pending deportation back to Greece. Migration along what is known as Europe’s Balkan route has picked up since travel restri...

Yellen: No federal bailout for collapsed Silicon Valley Bank

Published Tue, 25 Feb 2025 15:54:24 GMT

WILMINGTON, Del. (AP) — Treasury Secretary Janet Yellen said Sunday that the federal government would not bail out Silicon Valley Bank, but is working to help depositors who are concerned about their money.The Federal Deposit Insurance Corporation insures deposits up to $250,000, but many of the companies and wealthy people who used the bank — known for its relationships with technology startups and venture capital — had more than that amount in their account. There are fears that some workers across the country won’t receive their paychecks. Yellen, in an interview with CBS’ “Face the Nation,” provided few details on the government’s next steps. But she emphasized that the situation was much different from the financial crisis almost 15 years ago, which led to bank bailouts to protect the industry. “We’re not going to do that again,” she said. “But we are concerned about depositors, and we’re focused on trying to meet their needs.”With Wall Street ratt...

US calls Iran’s prisoner swap claim a ‘cruel lie’

Published Tue, 25 Feb 2025 15:54:24 GMT

DUBAI, United Arab Emirates (AP) — Iran’s top diplomat claimed Sunday that a prisoner swap was near with the U.S., though he offered no evidence to support his assertion. The U.S. immediately dismissed his comments as a “cruel lie.”Iranian Foreign Minister Hossein Amirabdollahian has made similar comments in the past about possible deals with the U.S. on frozen assets abroad and other issues that never came to fruition. Some of those remarks have appeared aimed at shoring up domestic support amid the mass protests challenging Iran’s theocracy and supporting the country’s troubled rial currency.However, in an interview Sunday with Iranian state television, Amirabdollahian claimed that Iran had “reached an agreement in recent days regarding the exchange of prisoners between Iran and the United States.”“If everything goes well on the American’s side, I think we will see the exchange of prisoners in the short term,” he added. He alleged a document between Iran and the ...

As atmospheric river exits, another awaits to hit California

Published Tue, 25 Feb 2025 15:54:24 GMT

WATSONVILLE, Calif. (AP) — Wet, miserable weather continued across huge swaths of California on Sunday as an atmospheric river that caused major flooding flowed eastward and makes way for another onslaught of rain and snow that could yet again pummel the beleaguered region as soon as Monday night.The National Weather Service said the next torrent could exacerbate the severe flooding that overwhelmed the area in the past few days, including a levee failure that prompted widespread evacuations Saturday in farming communities near the state’s Central Coast.Across Monterey County, more than 8,500 people were under evacuation orders and warnings Saturday, including roughly 1,700 residents — many of them Latino farmworkers — from the unincorporated community of Pajaro.The next weather system does not appear to be as powerful as the last one, but weather officials nevertheless cautioned that “considerable flooding” could occur in lower elevations from additional rain and snowmelt tha...

Sunday rain, snow showers across Chicagoland area

Published Tue, 25 Feb 2025 15:54:24 GMT

Sunday: Overcast with snow/rain showers. Getting a bit breezy in the afternoon. SSE/SSW 10-20 mph. High: 37 Interactive Radar: Track showers and storm here Sunday night is looking cloudy with a few snow showers & breezy. 1" or less accumulation. W 10-20 mph with a low of 29. We are expecting snow showers Monday and colder weather. WNW 15-25, G30 mph with high of 32.Full forecast details at the WGN Weather CenterWe might have seen some snow but the current ice on the Great Lakes even less this week with only 8.8% surface coverage. Hardly any in Lake MI at all, none on the #Chicago shore where water temps are at 39 degrees.Extended outlook calls for some sunnier days for Tuesday and Wednesday with highs getting on Tuesday into the mid to upper 30s-- and Wednesday into the upper 40s with increasing clouds late in the day. Rain returns on Thursday with some mild temps in the mid to low 50s. Temps crash on Friday with rain/snow showers and temps falling into the 30s in the afternoo...

New study on monkeys using stone tools raises questions about evolution

Published Tue, 25 Feb 2025 15:54:24 GMT

(The Hill) – Monkeys in modern-day Thai forests create stone artifacts uncannily similar to those crafted by early humans — challenging the established narrative of human cultural evolution. A new study published on Friday in Science Advances suggests the possibility that a critical hallmark of human tool use happened by accident — potentially blurring the line between tool use by early humans and our primate relatives. The Thai monkeys produced stone artifacts “indistinguishable from what we see at the beginning of the [human] archeological record — what we see as the onset of being human,” said Lydia Luncz of the Max Planck Institute for Evolutionary Anthropology, a co-author on the study. The monkeys — long-tailed macaques — seem to have made their artifacts by accident, not by design. But in many ways, that only makes the finding more disruptive. Tool use in nonhuman primates is nothing new. Long-tailed macaques — the s...