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Chianti, steak and a windfall tax fiasco: How Italy botched its raid on banks

Published Tue, 25 Feb 2025 17:39:30 GMT

On Sunday evening, the two cantankerous populists at the top of Italy’s government met in a Tuscan trattoria for dinner, with their families in tow. Over glasses of Chianti and rare Florentine steak, Prime Minister Giorgia Meloni and her garrulous deputy, Matteo Salvini, put on a show of unity intended to demonstrate that their frequent arguments were not serious and that the government was heading serenely into the summer break. The next day, everything blew up. In a late-night press conference on Monday, Salvini shocked international markets and his own colleagues by announcing a 40 percent windfall tax on banks’ profits, which have rocketed amid soaring interest rates. In the hours that followed, investors balked, bankers howled in protest as their share prices nosedived, and analysts warned that the knock-on impact on Italy’s precariously-placed economy could be severe. A day later, Meloni’s government was forced into a humiliating climbdown as it tried ...

Luis Severino struggles out of bullpen as Yankees lose series to White Sox

Published Tue, 25 Feb 2025 17:39:30 GMT

A move to the bullpen proved to be no relief for the Yankees’ Luis Severino.The right-hander struggled through yet another rough outing in Wednesday night’s 9-2 loss to the Chicago White Sox, surrendering four runs on five hits over two-plus innings.The Yankees opened the road game with reliever Ian Hamilton, hoping that using Severino out of the bullpen would take pressure off the 29-year-old after back-to-back brutal starts.But Severino ran into immediate trouble when he entered in a scoreless game to begin the second inning. He allowed three runs in that frame — including two on a 430-foot home run by Oscar Colas — before serving up an RBI double to Yoan Moncada in the third inning.Severino issued a leadoff walk in the fourth inning and was removed from the game. The two-time All-Star fell to 2-7, while his ERA inflated to 8.06.“I’m just having the worst year of my life in baseball,” Severino said afterward. “I have to continue. I&#...

Photos: Maui wildfire reduces most of historic town to ash

Published Tue, 25 Feb 2025 17:39:30 GMT

Wildfires have devastated parts of the Hawaiian island of Maui, killing at least six people, damaging or destroying over 270 structures and reducing most of a historic town to ash.County of Maui Mayor Richard Bissen Jr. said Wednesday that the number of fatalities could rise. At least two dozen people were injured by the fires. Bissen also said dozens have been evacuated.MAP: Maui wildfires burning in Lahaina and upcountryCounty of Maui spokesperson Mahina Martin says the fire was widespread in the historic tourist community of Lahaina, including on Front Street, a popular shopping and dining area.Acting Gov. Sylvia Luke is discouraging travelers from coming to Maui, saying that right now, it’s “not a safe place to be.”People watch as smoke and flames fill the air from raging wildfires on Front Street in downtown Lahaina, Maui on Tuesday, Aug. 8, 2023. (Alan Dickar via AP)This photo provided by County of Maui shows fire and smoke filling the sky from wildfires on the intersect...

Ball busts Green Monster light, Pivetta shines on short rest in weird Red Sox win

Published Tue, 25 Feb 2025 17:39:30 GMT

A Red Sox game has to be really weird to stand out in this season full of wild weather, baffling errors, and too many injuries.Wednesday night was weird.In the words of Bill Hader’s iconic and delightfully odd “Saturday Night Live” character, Stefon, this 4-3 Boston victory had everything:Yellow Sox, a big anniversary for Rafael Devers, a clutch rookie bomb, Nick Pivetta screaming triumphantly, and a big busted bulb.Let’s review in reverse order.In the top of the second, viewers were treated to the rarest of rare Fenway Park oddities when a 96.6 mph line drive by Kyle Isbel punched through the red cover of the light which indicates the first out of an inning on the Green Monster’s historic scoreboard.The hit was ruled a ground-rule double, but one unlike any seen at Major League Baseball’s oldest ballpark in decades; the most recent incident the Herald could find occurred during warmups in 2015.The venerable Joe Castiglione, who’s been broad...

Biden welcoming Australian leader to White House for state dinner in October

Published Tue, 25 Feb 2025 17:39:30 GMT

WASHINGTON (AP) — President Joe Biden will welcome Australian Prime Minister Anthony Albanese to the White House on Oct. 25 for the visit and state dinner that the U.S. promised when Biden had to scrap a stop in Australia earlier this year to focus on debt limit talks in Washington.White House press secretary Karine Jean-Pierre said in a statement Wednesday that the visit would “underscore the deep and enduring alliance between the United States and Australia and the two nations’ shared commitment to supporting an open, stable and prosperous Indo-Pacific.”Biden last May curtailed an Asia-Pacific trip that was to have included stops in Australia and Papua New Guinea because he needed to return to Washington because of the debt limit crisis.The scuttling of two of the three legs of the overseas trip — Biden did visit Japan for a Group of Seven summit with leaders of some of the world’s major economies — was a foreign policy setback for an administration that has made putting a g...

China sends ships and fighter jets toward Taiwan in new show of force

Published Tue, 25 Feb 2025 17:39:30 GMT

TAIPEI, Taiwan (AP) — China sent navy ships and a large group of fighter jets toward Taiwan, continuing its military pressure on the island, Taiwan’s defense ministry said Thursday.China claims self-ruled Taiwan as its own territory and has regularly sent flights toward the island in reaction to the island’s political activities. In the past year, it has also sent navy vessels as well as drones to circle the waters near the island.Taiwan’s defense ministry said the Chinese People’s Liberation Army sent 33 warplanes and 6 navy vessels between 6 a.m. Wednesday to 6 a.m. Thursday. The J-10 and J-16 fighter jets flew across the midline and to the southwest of Taiwan. The ministry said in an earlier statement Wednesday that Taiwan’s military tracked five of the ships as they sailed in coordination with the flights of the fighter jets.The ministry said it used land-based missile systems to track the aircraft, 10 of which crossed the midline of the Taiwan Strait, an unoff...

Stock market today: Asian shares mostly slip as markets brace for US inflation report

Published Tue, 25 Feb 2025 17:39:30 GMT

TOKYO (AP) — Asian benchmarks mostly fell Thursday after shares declined on Wall Street and investors braced for a highly anticipated report on U.S. inflation.The U.S. government later in the day will give the latest monthly update on inflation the nation’s consumers are experiencing, and economists expect to see an acceleration to 3.3% in July from 3% in June. Tina Teng, markets analyst at CMC Markets, called the looming U.S. update “a pivotal event for global markets.” Inflation in China also remains a huge concern. “A slowdown in consumer spending and high-interest rates remain issues for the global economy,” said Teng. Japan’s benchmark Nikkei 225 added less than 0.1% to 32,230.70 in morning trading. Australia’s S&P/ASX 200 shed nearly 0.1% to 7,331.90. South Korea’s Kospi lost 0.4% to 2,594.10. Hong Kong’s Hang Seng slipped 0.7% to 19,121.20, while the Shanghai Composite fell nearly 0.1% to 3,242.21. On Wall Street, the S&P 500 fell 31.67, or 0.7%, to 4,467....

CFD: Off-duty Cook County Sheriff deputy shot in on Chicago's South Side

Published Tue, 25 Feb 2025 17:39:30 GMT

CHICAGO — An off-duty Cook County Sheriff's Office deputy was shot Wednesday night on the South Side of Chicago, according to the Chicago Fire Department.The shooting happened around 9 p.m. near West 47th Street and South Cicero Avenue. Shot fired at SWAT teams in Austin as they investigate armed robbery case; suspect barricaded inside According to the fire department, the off-duty deputy was taken to Mt. Sinai Hospital.Their condition hasn't been released at this time.Additional details haven't been released.This is a breaking news story and will be updated.

Miami researchers scramble to save Florida's coral reefs amidst record ocean heat wave

Published Tue, 25 Feb 2025 17:39:30 GMT

MIAMI (KXAN) -- As a record-setting ocean heat wave continues, sending coastal Florida water temperatures occasionally over 100 degrees, coral reefs are dying at an unprecedented rate. But a team of University of Miami researchers, led by Dr. Andrew Baker, is doing something about it."It's pretty bad," Baker said. "This is the worst coral bleaching event that we've had on record, since scientists have begun studying that reef."Although reefs are protected from some of the hottest coastal temperatures measured this summer in Florida, temperatures are still far above normal. Baker said this results in massive bleaching episodes where the coral loses their color and turns white."If that fever doesn't break pretty soon, a lot of these corals are going to go ahead and die," Baker said.Why is this important?Coral reefs are home to a diversity of species equivalent to the rainforest. Between one-quarter and one-third of all marine species depend on coral at some point in their lifespan, Ba...

MAP: More than 2,500 acres have burned in Central Texas wildfires this year

Published Tue, 25 Feb 2025 17:39:30 GMT

AUSTIN (KXAN) — More than 2,400 acres have burned in wildfires across Central Texas so far this year, according to the Texas A&M Forest Service.A total of 29 fires have burned 2,576 acres in the 15-county KXAN viewing area, as of Aug. 9. How far behind normal are rainfall totals this year? KXAN is keeping track of wildfires this year. Follow along with the map and database below. We'll keep them updated as new information becomes available. Fires that are still uncontained are red on the map.The table below ranks all the fires in our area this year from largest to smallest. Click on one of the column headers to change how the fires are ranked.We're also keeping track of which counties have burn bans in effect. Click here to see the latest update.