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Silicon Valley Bank’s former CEO says Fed, social media contributed to bank’s collapse

Published Wed, 05 Mar 2025 02:39:45 GMT

By Max Reyes | BloombergThe fastest pace of rate hikes by the Federal Reserve in decades combined with negative social media sentiment contributed to the failure of SVB Financial Group’s Silicon Valley Bank, said Greg Becker, former chief executive officer of the company.“The messaging from the Federal Reserve was that interest rates would remain low and that the inflation that was starting to bubble up would only be ‘transitory,’” Becker said in written testimony prepared for a US Senate Banking Committee hearing Tuesday focused on Silicon Valley Bank and Signature Bank, both of which were seized by regulators in March. “Indeed, between the start of 2020 and the end of 2021, banks collectively purchased nearly $2.3 trillion of investment securities in this low-yield environment created by the Federal Reserve.”Silicon Valley Bank catered to the technology-startup ecosystem, and its heavy focus on the sector combined with a portfolio of long-dated bonds that lost value as interest ra...

Power restored to thousands in South SF, Daly City, Colma

Published Wed, 05 Mar 2025 02:39:45 GMT

(KRON) -- The PG&E power outage map shows power has been restored to thousands of customers Monday after a power outage in Daly City, South San Francisco and Colma.Power shut off at approximately 9:52 a.m. Monday. As of about 11 a.m., the outage was impacting 5,606 customers. The cause of the outage is under investigation. North County Fire Authority crews were at scene of an underground electrical vault fire on Camelot Court in Daly City. PG&E crews also responded.This story is developing and will be updated.

Shakira lanza el video oficial de “Acróstico”: sus hijos, Milan y Sasha, tienen una participación especial

Published Wed, 05 Mar 2025 02:39:45 GMT

(CNN Español) – Shakira presentó este lunes el videoclip oficial de “Acróstico”, la canción que la estrella colombiana dedicó a sus hijos, Milan y Sasha.La producción llega tres días después de presentar el lyric video, que contaba con la letra de la canción y dibujos animados, que superó los 10 millones de reproducciones y que actualmente está en el puesto 7 de videos más trending en YouTube (Estados Unidos).El videoclip oficial de “Acróstico” viene acompañado con una sentida publicación de Shakira en sus redes sociales en las que abre una ventana hacia las inclinaciones musicales de sus hijos.Los detalles del video oficial de “Acróstico”Shakira ofreció al mundo un vistazo cercano a la faceta artística de sus hijos, ya que son protagonistas, junto a ella, de la producción.El videoclip comienza también alusión a la mudanza de la colombiana a Miami.También hay imágenes de Shakira tocando un piano blanco en una especie de depósito rodeada de cajas de mudanza.En todo el video se muestr...

Arrestan a presunto responsable del ataque a tres turistas argentinos en México

Published Wed, 05 Mar 2025 02:39:45 GMT

(CNN Español) –– La Fiscalía General del estado de Oaxaca informó sobre el arresto este domingo del presunto responsable de agredir a tres turistas argentinos.El incidente, según el reporte de las autoridades, ocurrió el 12 de mayo cuando los viajeros Benjamín Gamond, Santiago Lastra y Macarena González fueron atacados con un arma punzante en la localidad de La Isla Chacahua, en la costa suroeste del país.En un comunicado, el Gobierno de Villa de Tututepec identificó al sospechoso como Cruz Irving Martínez Flores, de 21 años y del estado de Guerrero. CNN está tratando de determinar si cuenta con abogado y cuál es su versión de los hechos.La agresión dejó a uno de los turistas hospitalizado por un “traumatismo craneoencefálico y choque hipovolémico”, y en espera de ser trasladado de otro centro médico.Las autoridades de Villa de Tututepec dijeron en el comunicado que “este tipo de actos no definen la hospitalidad, seguridad y paz que estos destinos turísticos han ofrecido a millones ...

Mexico says renewed Texas truck inspections at border delaying freight shipments

Published Wed, 05 Mar 2025 02:39:45 GMT

MEXICO CITY (AP) — The Mexican government said Monday that renewed Texas truck inspections at the Brownsville-Matamoros crossings have caused delays as long as 27 hours for freight shipments crossing the border. Mexico’s Economy Department called on Texas to stop the stepped-up inspections, which began May 8, and said Mexico will take up the issue in Trade Facilitation Committee of the U.S.-Mexico-Canada free trade agreement. The dispute echoes a similar move by Texas Gov. Greg Abbott in 2022 that caused massive traffic backups along the border. Abbott has claimed such inspections are meant to stop the smuggling of migrants and drugs, but in 2022 inspectors didn’t report finding any, though they did spot some safety issues.Mexico’s position is that drugs and migrant smuggling is an issue for federal law enforcement, not states.Abbott has often sought to gain publicity with high-profile anti-immigration measures.“The imposition of these inspections is creating millions in losses for ...

Mississippi removes hurdle to child care for low-income single parents

Published Wed, 05 Mar 2025 02:39:45 GMT

JACKSON, Miss. (AP) — Single parents in Mississippi — one of the poorest states in the nation — no longer face a nearly 20-year-old state policy that made it difficult for them to get financial help paying for child care, officials and advocates said Monday. Since 2004, single parents and guardians in Mississippi had to seek child support from the other parent in order to be eligible for assistance through the Child Care Payment Program, which offers help to low-income parents. As of Monday, that rule is no longer in effect.To comply with the rule and receive child care assistance, single parents had to apply through two divisions in the Mississippi Department of Human Services. The dual application process was mired in communication breakdowns that jeopardized assistance, said Carol Burnett, executive director of the Mississippi Low Income Child Care Initiative.“This policy deterred many single moms from applying for many valid reasons, ranging from informal payment agreements bein...

Connecticut high court nominee regrets signing 2017 letter supporting Amy Coney Barrett

Published Wed, 05 Mar 2025 02:39:45 GMT

HARTFORD, Conn. (AP) — A nominee to the Connecticut Supreme Court told state lawmakers Monday that she would not have signed a 2017 letter supporting Amy Coney Barrett for a federal appeals court position if she knew Barrett would later vote to overturn Roe v. Wade abortion protections as a member of the U.S. Supreme Court.Sandra Slack Glover, a federal prosecutor nominated by Democratic Gov. Ned Lamont, made the comment during her confirmation hearing before the legislature’s Judiciary Committee, as several members of the Democratic majority expressed concerns about her support of Barrett. The committee was scheduled to vote on Glover’s nomination later in the day.“I’m not going to demonize her,” Glover said of Barrett. “But when I look at that letter now … I’m no longer comfortable with some of those statements.“But I also believed, clearly naively at this point, I thought there were guardrails,” she said, referring to judges’ respect for legal preced...

Hieren de bala a niña de 12 años al sureste de DC

Published Wed, 05 Mar 2025 02:39:45 GMT

Una niña de 12 años resultó herida después de que una bala perdida la alcanzara mientras estaba en la cama el lunes temprano en el sureste de DC, indicó la policía.Una bala atravesó las paredes de un apartamento antes de las 4:40 a.m. La casa está en la cuadra 2600 de Naylor Road SE, según el Departamento de Policía Metropolitana.La niña fue baleada en la pierna y transportada a un hospital. Se espera que sobreviva.La policía no cree que ella fuera el objetivo previsto. La investigación está en curso. El tiroteo ocurrió horas después de que una niña de 10 años resultara gravemente herida tras ser alcanzada por una bala perdida mientras viajaba en un automóvil con su familia en el noreste de D.C. La policía continúa buscando al tirador.La alcaldesa de DC, Muriel Bowser, propuso una nueva legislación de seguridad el lunes.Mantente en sintonía de Telemundo 44 para más detalles. Source

Police search for shoplifters accused of stealing over $12K from Denver metro stores

Published Wed, 05 Mar 2025 02:39:45 GMT

DENVER (KDVR) -- The Lakewood Police Department is asking for help to track down a group of four suspects they said have stolen $12,535.40 from TJ Maxx and Marshalls stores in the Denver metro area.The thefts started April 4, and the last one reported was on May 2. So far, there have been 8 incidents in stores across the metro:Lakewood - 4 thefts, total loss of $4,909.04Denver - 1 theft, total loss of $2,329.62Aurora - 1 theft, total loss of $2,292.45Centennial - 1 theft, total loss of $2,209.46Greenwood Village - 1 theft, total loss of $794.83According to Lakewood, the thieves often fill up laundry baskets or large bags to conceal items and carry them out of the store.The vehicle associated with the thefts is a dark blue newer-model Chevrolet Malibu with an unknown temporary tag. Vehicle associated with the theft, described as a dark blue newer-model Chevrolet Malibu with unknown temporary tag (Credit: Lakewood Police Department)One of the four suspects was described by Lakewood PD...

2 Colorado lake towns named among best in US

Published Wed, 05 Mar 2025 02:39:45 GMT

DENVER (KDVR) -- Temperatures are getting warmer outside and summer is right around the corner. If you are planning on doing some paddle boarding or kayaking, or just want to see breathtaking mountain views from a lake, there are many options in Colorado.Trips to Discover recently released a list ranking the best lake towns in the United States. 10 breathtaking spring hikes to take in Colorado Two of the top 16 are located in Colorado. One of those is Grand Lake, which comes in at number 8 on the list. "The western gateway to Rocky National Mountain Park, the village of Grand Lake offers plenty of allure itself with a historic boardwalk, 60 shops, restaurants, bars, and galleries. The lake is the deepest and largest in Colorado, one of the best when it comes to all manner of water sports, including fishing and boating. On land, enjoy horseback riding, hiking, golfing, and four-wheeling," Trips to Discovered shared.The Grand Lake Chamber of Commerce said if you are planning to vis...