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Government races to reassure US that banking system is safe

Published Sat, 22 Feb 2025 11:25:15 GMT

By KEN SWEET, CHRISTOPHER RUGABER, CHRIS MEGERIAN and CATHY BUSSEWITZ (Associated Press)NEW YORK (AP) — Depositors withdrew savings and investors broadly sold off bank shares Monday as the federal government raced to reassure Americans that the banking system was secure after two bank failures fed fears that more financial institutions could fall.President Joe Biden insisted that the system was safe after the second- and third-largest bank failures in the nation’s history happened in the span of 48 hours. In response to the crisis, regulators guaranteed all deposits at the two banks and created a program that effectively thew a lifeline to other banks to shield them from a run on deposits.“Your deposits will be there when you need them,” Biden told the public, seeking to project calm. He also said the banking executives responsible for the failures would be held accountable.In other developments, the Federal Reserve announced that it would review its supervis...

Chicago Bears free-agency news: Rebuild continues with additions of linebacker Tremaine Edmunds and offensive lineman Nate Davis

Published Sat, 22 Feb 2025 11:25:15 GMT

In his second offseason with the Chicago Bears, general manager Ryan Poles has plenty of salary-cap space to rework a roster that finished 3-14 in 2022.As the NFL’s new league year approaches, allowing free agents to begin signing with new teams, the Tribune will track all of the Bears’ arrivals and departures and provide insight into what they mean.The free-agency negotiation window will open across the league at 11 a.m. Monday. Unrestricted free agents can finalize deals when the new league year begins at 3 p.m. Wednesday.The free-agent negotiating window is open. Where will GM Ryan Poles and the Bears turn their attention first?What headline-grabbing move is next? 5 Bears questions before free agency.Column: Ryan Poles checked a big box on the Bears’ offseason list with his bold trade. Now comes the hard part.Bears trade the No. 1 pick in the 2023 NFL draft to the Panthers. Here’s what they got in return.MondayInside linebacker Tremaine Edmunds is joining ...

Biden OKs Alaska oil project, angering greens

Published Sat, 22 Feb 2025 11:25:15 GMT

WASHINGTON — The Biden administration said it’s approving a huge oil-drilling project on Alaska’s petroleum-rich North Slope, a major environmental decision that drew quick condemnation from environmentalists.The announcement came a day after the administration, in a move toward conservation, said it would bar or limit drilling in some other areas of Alaska and the Arctic Ocean.The approval of Conoco-Phillips’ big Willow drilling project by the Bureau of Land Management will allow three drill sites including up to 199 wells. Two other drill sites proposed for the project will be denied. ConocoPhillips Chairman and CEO Ryan Lance called the order “the right decision for Alaska and our nation.”The Houston-based company will relinquish rights to about 68,000 acres of existing leases in the National Petroleum Reserve-Alaska.The order, one of the most significant of Interior Secretary Deb Haaland’s tenure, was not signed by her but rather by her deputy, Tomm...

Former Ravens tight end Josh Oliver agrees to 3-year deal with the Minnesota Vikings

Published Sat, 22 Feb 2025 11:25:15 GMT

Tight end Josh Oliver, one of the Ravens’ most improved players in 2022, agreed Monday to a three-year, $21 million contract with the Minnesota Vikings, a source with direct knowledge of the deal confirmed to The Baltimore Sun.The Ravens traded for Oliver before the 2021 season, hoping he might unlock the potential that had made him a third-round pick for the Jacksonville Jaguars in 2019. He played 14 games his first year in Baltimore but took on a greater role in 2022, building on a strong training camp to become one of the best blocking tight ends in the NFL.The deal will not become official until Wednesday afternoon. The loss of Oliver sets the Ravens up to receive a compensatory sixth-round draft pick in 2024 based on a formula that accounts for average salary per year, playing time and awards. Compensatory picks won’t become official until next March.Former Ravens offensive coordinator Greg Roman said he had never seen a player improve more as a blocker from one sea...

Rate of sudden unexplained infant deaths among Black babies skyrocketed in 2020, study finds

Published Sat, 22 Feb 2025 11:25:15 GMT

Joseph Wilkinson | New York Daily NewsWhile the COVID-19 pandemic gripped the U.S. in 2020, the nationwide rate of sudden unexplained infant deaths remained steady — except among Black babies, according to a study released Monday.The sudden unexplained infant death (SUID) rates among white, Asian, American Indian and Hispanic babies all remained relatively steady or declined from 2019 to 2020, the study found. However, the rate increased substantially among Black babies.“The significant increased rate of SUID among non-Hispanic Black infants from 2019 to 2020, but not among other single race and Hispanic infants, deserves further attention because it could be attributable to the COVID-19 pandemic and its impact on social determinants of health,” the study’s authors wrote.The study attempted a holistic examination of sudden infant deaths in the U.S. from 2015 through 2020, focusing not just on sudden infant death syndrome (SIDS), but also deaths attributed to unknown causes, as well ...

Think you have lead paint in your home? Here’s what to do — and not do

Published Sat, 22 Feb 2025 11:25:15 GMT

Though there are things homeowners can do to make their houses safer, lead abatement is not a do-it-yourself project. Certified lead workers go through training so they know not only know how to keep themselves and others safe at a worksite, but also how to not take lead home with them.For a homeowner winging lead removal, it’s more likely than not that they will accidentally poison a family member.“I had one family that the father said, ‘Oh, we vacuum the house every day.’ It turned out he was vacuuming with the shop-vac that he used in his construction work,” said Tanya Allison, community housing manager for the city of Allentown. “He was bringing all the dust from his day job into his home.”The government takes lead abatement seriously as well. If the EPA finds out a contractor without the proper licenses and certification has disturbed a surface covered in lead paint greater than 6 square feet, the consequence is a significant fine.However, in theory, just about anyone can becom...

Pfizer buys cancer drug biotech for $43B 

Published Sat, 22 Feb 2025 11:25:15 GMT

Pfizer is spending about $43 billion to reach deeper into new cancer treatments that target tumor cells while sparing surrounding healthy tissue.The pharmaceutical giant said Monday it will pay $229 in cash for each share of Seagen Inc. Pfizer then plans to let the biotech drug developer “continue innovating,” except with more resources than it would have alone, Pfizer Chairman and CEO Albert Bourla told analysts.“We are not buying the golden eggs,” he said. “We are acquiring the goose that is laying the golden eggs.”Seagen Inc., based in Bothell, Washington, specializes in working with antibody-drug conjugate, or ADC, technology. Its key products use lab-made proteins called monoclonal antibodies that seek out cancer cells to help deliver a cancer-killing drug while sparing surrounding tissue.Cancer treatments are a priority for Pfizer. They brought in $12 billion in revenue for the drugmaker last year. But Pfizer has only marketed a couple first...

NCAA Tournament Predictions: 4. UConn vs. 13. Iona

Published Sat, 22 Feb 2025 11:25:15 GMT

4. UConn (25-8, 13-7/Big East)- On their best day, the Huskies can play with anyone in the nation, as they proved during an undefeated non-conference run that saw them start out 14-0 and knock off Alabama en route to a Phil Knight Invitational title. UConn rose to as high as No. 2 in the country, but then came crashing back down to Earth immediately after, losing five of six to start the new year. UConn has since regained its confidence, and enters the Big Dance winners of 9 of its last 11 games.The Huskies can beat you in a number of ways, especially if projected first-round NBA Draft pick and instant-offense creator Jordan Hawkins (16.1 ppg, 36.8% 3-pt) gets going. UConn has several shooters ( Alex Karaban, Joey Calcaterra) who can get hot from deep and beat you, and all of that surrounds powerful big man and leading scorer Adama Sanogo in the paint (16.8 ppg, 7.3 rpg). Andre Jackson is a defensive force and pre...

NCAA Tournament Predictions: 4. Indiana vs. 13. Kent State

Published Sat, 22 Feb 2025 11:25:15 GMT

Indiana (22-11, 12-8/Big Ten)- Led by big man Trayce Jackson-Davis, Indiana was the Big Ten preseason favorite. And although the Hoosiers did not capture a Big Ten championship, they appear to be peaking at the right time and will be a dangerous team in the Midwest region.Jackson-Davis has been once again, spectacular (20.8 ppg, 57% FG) and is capable of taking over any game. Meanwhile, Indiana has developed a legit sidekick in 6-foot-6 freshman Jalen Hood-Schifino (13.5 ppg, 4.1 rpg, 3.7 apg) who has excellent shot-making abilities and could be a lottery pick if he leaves for the NBA after this season.However, the Hoosiers (77th in defensive rating) have been vulnerable defensively this season at times and have also been victim to a few true clunkers, with a 22-point home loss to Iowa and 19-point road defeat at Penn State the most egregious.Indiana hasn’t been to a Sweet 16 since 2016, a sting on a proud program. Mike Woodson has done well to ge...

WATCH: President Biden delivers remarks in San Diego on submarine deal

Published Sat, 22 Feb 2025 11:25:15 GMT

SAN DIEGO -- President Joe Biden landed in San Diego shortly after noon Monday for a meeting with the British and Australian Prime Ministers to discuss the countries' partnership and defense issues, as China's military influence has become a growing concern for world leaders.The leaders announced a historic deal in a joint press conference with the leaders that would modernize Australia's naval fleet by equipping the country with nuclear-powered attack submarines through AUKUS, a trilateral security pact formed between the three countries in 2021 to develop submarine capabilities in the Indo-Pacific region.As part of the plan unveiled by the White House Monday, the three countries will roll out a phased approach to introduce these submarines -- used for their capabilities to travel underwater for longer without needing to surface -- to the Australian military. US, UK try to halt fallout from Silicon Valley Bank collapse By the early 2030s, up to five Virginia-class submarines will...