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Banks feel sting of Fed fight against inflation

Published Mon, 11 Nov 2024 03:28:50 GMT

The banking sector is in retreat, as it has been all week, as the effects of the Federal Reserve’s fight against inflation begins to weigh heavily on a small number of banks that cater to the tech sector. Late Thursday, SVB Financial Group, the parent of Silicon Valley Bank, lost 60% of its value after announcing plans to raise up to $1.75 billion in order to strengthen its capital position amid concerns about higher interest rates and the economy. Major financial institutions like Bank of America, Citigroup and JPMorgan were not immune, falling between 4% and 6%. That sell-off continues before the opening bell Friday. Silicon Valley plunged sharply and was extraordinarily volatile before trading was halted. The banking sector is leading all others in declines. Driving anxiety in the sector is the fight by the U.S. Federal Reserve against inflation. As the Fed raises its benchmark interest rate, the value of bonds, typically a stable asset, are starting to fall. That is not ty...

Wall St futures up on jobs data; Silicon Valley Bank halted

Published Mon, 11 Nov 2024 03:28:50 GMT

Wall Street futures reversed course Friday after the government reported another healthy month of hiring in February.Futures for the Dow Jones Industrial Average edged up 0.1% and futures for the S&P 500 rose 0.3%. Both were down before the report was released. Oil prices also rebounded.The Labor Department reported Friday that America’s employers added a substantial 311,000 jobs in February, fewer than January’s huge gain but enough to keep pressure on the Federal Reserve to raise interest rates aggressively to fight inflation.The unemployment rate rose to 3.6% from a 53-year low of 3.4%, as more Americans began searching for work and not all of them found jobs.On Thursday, the S&P 500 index fell by its biggest one-day margin this year after Federal Reserve Chair Jerome Powell warned rates might be raised faster than expected to cool stubbornly high inflation.Adding to the rout was SVB Financial Group, which lost 60% of its value Thursday after announcing plans to raise up ...

Haiti police pursue new suspects in presidential slaying

Published Mon, 11 Nov 2024 03:28:50 GMT

PORT-AU-PRINCE, Haiti (AP) — Authorities in Haiti have identified new suspects in the July 2021 killing of President Jovenel Moïse, including a pastor and a well-known gang leader.Police spokesman Garry Desrosiers said in an interview Friday with Radio Télévision Caraïbes that warrants also have been issued for eight police officers.None of the new suspects have been arrested, and it wasn’t clear what alleged roles they might have played.Desrosiers identified the gang leader as Vitel’Homme Innocent, leader of the Kraze Barye gang, which roughly translates to “breaking barriers.” He is also sought by the FBI, which accused him of helping kidnap 17 U.S. missionaries in October 2021. Desrosiers did not provide further details, and he did not immediately return a message for comment.Before the new arrest warrants were announced, more than 40 suspects had been detained in the case, including at least 18 Colombian ex-soldiers accused of raiding Moïse’s private residence in an attack that ...

World Baseball Classic players get artsy with custom cleats

Published Mon, 11 Nov 2024 03:28:50 GMT

When Joc Pederson takes the field for Israel in the World Baseball Classic, he’ll be wearing bright silver cleats with blue Stars of David inside each Nike swoosh.Edwin Díaz commissioned two different designs to wear for Puerto Rico: blue with a bronze trumpet across the Adidas stripes, and red with white and blue trumpets, a reference to the closer’s intro music.Flashy footwear is the work of Stadium Custom Cleats, a company owned by Alex Katz, a pitcher for Israel at the 2021 Tokyo Olympics and at this year’s WBC.“You can express yourself more,” Pederson said. “It’s pretty boring when it’s just plain Jane black-and-white shoes. I like to spice my shoes up a little bit, add some extra flair.”When Israel plays its Group D opener against Nicaragua at Miami on Sunday, Katz’s cleats will feature the Mensch on a Bench mascot of Israel’s team, the Western Wall, Haifa. The 28-year-old left-hander’s shoes even have multicolor reflective soles.Others with the spiffy shoes include Dani...

Firmino eyes strong finish to Liverpool career, Klopp says

Published Mon, 11 Nov 2024 03:28:50 GMT

LIVERPOOL, England (AP) — Roberto Firmino plans to leave Liverpool after eight seasons but manager Jurgen Klopp says there will be time for goodbyes later.The 31-year-old forward recently told Klopp that he’ll move on after the season and that he’s fully focused on the team’s push for a strong finish.“He is completely here and completely committed, how everybody can imagine. And that’s all we need to know,” Klopp said Friday in a press conference. “There’s no time for a goodbye or whatever in this moment, there’s enough time for that later in the season.”Liverpool can bolster its top-four bid when it visits last-place Bournemouth on Saturday. The team has recorded four wins in its current five-game league unbeaten run and is up to fifth place, three points behind Tottenham.Firmino capped off the scoring in the 7-0 rout of Manchester United at Anfield last Sunday.“I loved the reception he got when he came on against United,” Klopp said.The Brazil international has s...

Fuerte sismo magnitud sacude a gran parte de Colombia

Published Mon, 11 Nov 2024 03:28:50 GMT

BOGOTÁ, Colombia- Un sismo de magnitud 5.4 sacudió en la madrugada de este viernes gran parte de Colombia, sin que hasta el momento las autoridades hayan informado de víctimas o daños, según el Servicio Geológico de Estados Unidos (USGS, por sus siglas en inglés).Según un boletín preliminar del Servicio Geológico Colombiano (SGC), el movimiento telúrico ocurrió a las 4:18 a.m. hora local a una profundidad de 151,000 metros y tuvo como epicentro la región de Los Santos, en el departamento de Santander, en el centro-oriente del país, donde está una de las principales fallas geológicas del país.La violencia del movimiento sacudió buena parte de las infraestructuras y fue particularmente fuerte en Bogotá y Medellín, así como otras ciudades como Bucaramanga, capital de Santander, la urbe más cercana al epicentro, y en Cúcuta en la frontera con Venezuela. Nuevo sismo de magnitud 5.6 sacude el sureste de Turquía; hay un muerto y 69 heridos Reabren e...

2nd reading of overdose prevention centers bill passes

Published Mon, 11 Nov 2024 03:28:50 GMT

DENVER (KDVR) — House Bill 23-1202 passed its second reading in the Colorado legislature early Friday morning.Lawmakers began debating the measure at 2:30 a.m. and ultimately voted to pass the second reading around 6:30 a.m. in a marathon session at the Capitol. The bill gives each city or municipality the ability to choose if it wants to create a safe space for “overdose prevention centers” or OPCs. These spaces would be supervised areas for people to use drugs. Additionally, it would also test for fentanyl, provide counseling and harm reduction services, connect to treatment, and have trained workers there to step in to prevent overdoses. New abortion access bills introduced at the Capitol Supporters of the bill said OPCs are a better alternative than what’s currently happening with local drug use. They said they want to help people with their addictions and save lives.Democratic Rep. Elisabeth Epps said, “You cannot go to rehab if you’re not alive. You cannot seek treatment if ...

St. Patrick's Day Fest, Shamrock the Block, plus 8 things to do

Published Mon, 11 Nov 2024 03:28:50 GMT

DENVER (KDVR) — If you are looking for something to do this weekend, we have you covered. Whether you want to check out Jurassic Quest or a beer festival, there is something for everyone.Weather-wise, highs will be in the upper 50s on Friday and in the 40s Saturday and Sunday. If you're traveling to the mountains, expect snow showers. Full list of St. Patrick’s Day events across the Denver area Things to do this weekendHere are 10 things to do this weekend across Colorado:Denver’s St. Patrick’s Day Parade- SaturdayOlde Town Arvada’s St. Patrick’s Day Festival- SaturdayDowntown Lakewood BEER FEST- SaturdayJurassic Quest- SaturdayHarlem Globetrotters- SaturdayBackcountry Film Festival 2023- SaturdayShamrock The Block- SaturdayCastleMania- SaturdayDenver St Patrick’s Day Bar Crawl & Block Party!- SaturdayHouse of Hip Hop- Collabratory Complex - SaturdayYou can always find events on our Community Calendar. You can also add your event to the calendar.

4.3 magnitude earthquake felt in southern Colorado

Published Mon, 11 Nov 2024 03:28:50 GMT

VALDEZ, Colo. (KXRM) — In the late hours Thursday, a 4.3 magnitude earthquake shook parts of southern Colorado.According to the United States Geological Survey, the earthquake was centered in the Burro Canyon area in Valdez. Julie Bush of Weston, Colorado told KDVR's sister station FOX21 News she felt the shaking at 11:07 p.m."We're at 7,600 feet and it felt like an explosion, stuff flew off the walls and I'm still shaking!" said Bush. Courtesy: FOX21 Storm Team Chief Meteorologist Matt MeisterCourtesy: United States Geological SurveyUSGS's website shows the shaking might have been felt as far north as Fort Carson and Fountain areas. Are people already waiting in line for Casa Bonita to reopen? The USGS "Did you feel it?" program uses reports from citizens to estimate where the earthquake was likely felt. Here's their map for the overnight earthquake.Courtesy: United States Geological SurveyCourtesy: United States Geological SurveyOver the last three weeks, there have been six ea...

Florida abortion ban could have practical, political impacts

Published Mon, 11 Nov 2024 03:28:50 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...