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Moore: New banking regulations could sink economy

Published Fri, 19 Apr 2024 16:16:05 GMT

Banking is just about the most regulated industry in America. Yet, as we saw with the collapse of Silicon Valley Bank and others in recent months, lenders are not invulnerable to failure due to bad management or unexpected changes in economic conditions.The inevitable response is for more regulation on all banks. But sometimes regulators can make conditions worse for healthy banks. The most famous example in recent times was when financial regulators urged banks to issue inordinate amounts of new “safe” mortgages leading up to the great financial crisis of 2008, ultimately flooding the financial system with toxic debt.Now with some banks under financial stress because of higher interest rates, Congress and the Federal Reserve want to raise bank capital reserve requirements. Presumably, this means holding more government bonds, many of which dropped precipitously in value last year as interest rates spiked higher.Federal Reserve Vice Chair for Supervision Michael Barr rec...

Taylor Swift, SZA lead 2023′s MTV Video Music Award nominations

Published Fri, 19 Apr 2024 16:16:05 GMT

By David Matthews, New York Daily NewsTaylor Swift and SZA are the top nominees for the upcoming MTV Video Music Awards.Swift leads the pack with eight total nominations as she looks to win her first-ever Song of the Year award for “Anti-Hero” off her acclaimed 2022 album “Midnights.” The hit is also nominated for Best Pop Song, while its music video has earned nods for Best Direction, Best Cinematography, Best Visual Effects, Best Editing and Video of the Year.The “Lavender Haze” singer is also nominated for Artist of the Year, along with Beyoncé, Doja Cat, KAROL G, Nicki Minaj and Shakira.Singer-songwriter Taylor Swift performs during her Eras Tour at Sofi stadium in Inglewood, California, August 7, 2023. (Photo by MICHAEL TRAN/AFP via Getty Images)SZA is next up with six nominations. Her hit “Kill Bill” is nominated for Video of the Year, Song of the Year, Best Direction, Best Art Direction and Best Editing. She’s also nominated in the Best R&B category for “Shirt.”Doja Cat, ...

Davis: Marathon bombing proves FirstNet needed

Published Fri, 19 Apr 2024 16:16:05 GMT

During and after the bombings at the 2013 Boston Marathon, a massive influx of calls and texts caused major communications challenges for public safety.First responders had a hard time connecting and coordinating. Public safety leadership suffered limited visibility and management of the incident was hampered.Our public safety heroes rose to the occasion that day, but the challenge and experience drove home the need for better technology. It emphasized just how crucial quality communication is for public safety.Ten years later, during the 2023 Boston Marathon, first responders at the event saw 99 percent reliability in their wireless connectivity, with no dips in service even during the peak hours of 10 a.m. to 12 p.m.What difference did a decade make? The implementation of FirstNet, a dedicated public safety network.A public-private partnership overseen by the federal government, FirstNet is approaching Congressional reauthorization. As I testified before the Senate Homeland Securi...

A 170-year-old photography style evoking the Old West is experiencing a renaissance

Published Fri, 19 Apr 2024 16:16:05 GMT

Editor’s note: An untold number of unheralded artists live in Colorado, those creators who can’t (or don’t want to) get into galleries and rely on word of mouth, luck or social media to make a living. You’ve likely seen them on Instagram, at festivals or at small-town art fairs. This monthly series, Through the Lens, will introduce you to some of these artists.Tintype photographs conjure up images of the Old West or soldiers heading out to fight in the Civil War. They evoke a sense of history, nostalgia and a glimpse into the past.Salida-based Tintype photographer Tim Brown said the process, which was developed in the 1850s, was practically extinct 20 years ago. With the heavy cameras, use of complex chemicals, a complicated multistep procedure and the development of newer camera equipment, the art form was disappearing quickly.But it is experiencing a renaissance, Brown said.Subject Corey Hubbard is upside down in the view finder of tintype photographer Tim Brown’s large wet plate ...

Darius Rucker pays tribute to his mother, Carolyn, with a new record and tour

Published Fri, 19 Apr 2024 16:16:05 GMT

Country music singer-songwriter Darius Rucker is used to the grind that comes with cranking out albums and hitting the road.He’s got three Grammy Awards, seven solo studio albums and several hits under his belt and he’s about to deliver his first new album in a handful of years, “Carolyn’s Boy.” While he’s out on his Starting Fires Tour — which hits FivePoint Amphitheatre in Irvine on Aug. 18, The Greek Theatre in Los Angeles on Aug. 23, Gallagher Square at Petco Park in San Diego on Aug. 25 and Yaamava’ Resort & Casino in Highland on Aug. 26 — Rucker said things feel emotionally, mentally and musically different with this forthcoming album release.“I haven’t had a record out in so long,” Rucker said during a recent phone interview. “It feels good to have new music coming out and being able to play that music for fans. Something about this era for me just feels different, it feels special. I mean it always feels special when you put out a new record, but this one is close to hom...

Highway 400 sinkhole causing major problems for drivers, delays expected

Published Fri, 19 Apr 2024 16:16:05 GMT

Ontario Provincial Police (OPP) say traffic delays are expected on Highway 400 for several days due to an 11-foot-deep sinkhole.OPP Sgt. Kerry Schmidt shared an update on Tuesday, saying the sinkhole is located in the left southbound lane on Highway 400 lane approaching Line 5 near Bradford West Gwillimbury. A closure has been expanded to include the northbound lane of the highway.Sgt. Schmidt said the sinkhole is along the median strip just north of Line 5.“You can see relatively new concrete walls here. This is the problem. It doesn’t look like much on the surface, but once you take a look inside… you can see a drain tile, and the hole goes down at least 11 feet. It looks deeper than that to me,” Sgt. Schmidt said.“That hole is comprising both northbound and southbound lanes. The [Ministry of Transportation] has the left lane blocked here right now.”Sgt. Schmidt urged drivers to avoid the area if possible due to heavy delays.Major problems #Hwy...

$1.58 billion Mega Millions jackpot is third-largest in US history

Published Fri, 19 Apr 2024 16:16:05 GMT

Lottery players will have another shot Tuesday night at a massive Mega Millions prize that ranks as the third-largest jackpot in U.S. history.The estimated $1.58 billion prize has been gradually building for months thanks to 31 straight drawings without a jackpot winner. The last time someone won the game’s top prize was April 18.Each drawing without a winner pushes the prize closer to the record $2.04 billion Powerball jackpot that someone in California won last year. The second largest in size was in 2016, when the Powerball jackpot reached a nearly identical amount of $1.586 billion.Mega Millions jackpot winners are so rare thanks to odds of one in 302.6 million.The $1.58 billion payout would go to a winner who opts for an annuity, doled out over 30 years. But people usually prefer a lump sum option, which for Tuesday’s jackpot would be an estimated $783.3 million.The money would be subject to federal taxes. Many states also tax lottery winnings.Mega Millions is played in 4...

‘Native American’ or ‘Indigenous’? Journalism group rethinks name

Published Fri, 19 Apr 2024 16:16:05 GMT

ATLANTA (AP) — The Native American Journalists Association is aiming to become more inclusive as its members vote on whether to rebrand as the Indigenous Journalists Association — a move inspired, in part, by evolving trends in cultural identity.The group, with more than 950 members mostly in the United States, is expected to approve the change at its annual conference this week in Winnipeg, Canada. Voting on the new name, as well as branding that would replace a feather with an “ija” logo in stylized letters, runs through Thursday, Aug. 10.Founded in Canada in 1983, NAJA wants to foster inclusion with Indigenous journalists there as well as in Alaska and Hawaii, since “ Native American ” is a modern alternative for “ American Indian ” — referring specifically to the millions of descendants of the original inhabitants of what is now the Lower 48 states.“Essentially, we’re going back to our roots and trying to create and provide support and resources for Indigenous journalists all ac...

Italy proposed a bank tax to help people with interest rate hikes. The move sent stocks plunging

Published Fri, 19 Apr 2024 16:16:05 GMT

ROME (AP) — Italian bank stocks plunged Tuesday after the Cabinet approved a proposal to apply a 40% tax on some bank profits this year to help consumers and businesses cope with higher borrowing costs.Transport Minister Matteo Salvini announced the tax at a Monday evening news conference, saying it was a measure of “social equity” to make up for a series of interest rate hikes from the European Central Bank. Those increases are aimed at fighting inflation and make it more expensive for people to get loans to buy homes and cars or for companies to get new equipment or build facilities.UniCredit shares closed down nearly 6%, Intesa Sanpaolo fell more than 8.5%, Banco BPM dropped 9%, and BPER and Banca MPS both plummeted almost 11% on the Milan Stock Exchange.After markets closed Tuesday, the Italian finance ministry defended the tax as in line with “already existing rules in Europe on extra bank margins,” and said that regardless, the contribution from the new tax can’t exceed ...

Bollywood superstar Alia Bhatt makes her Hollywood debut in Netflix’s ‘Heart of Stone’

Published Fri, 19 Apr 2024 16:16:05 GMT

Alia Bhatt had been weighing her Hollywood options for a few years. A popular star of Hindi films for over a decade with nearly 79 million Instagram followers, she’d been interested in making an English-language film, but nothing had been working out. Then Bhatt got word of a new action franchise led and produced by Gal Gadot and within a week of reading the script, the deal had closed. It was, she concluded, fate.“Your first film chooses you,” Bhatt said in an interview with The Associated Press in June. “Technically, this is my first English-language movie. It chose me and I’m so happy it did.”“Heart of Stone,” a globe-trotting spy thriller co-starring Gadot and Jamie Dornan, debuts globally Friday on Netflix. Bhatt’s role as a tech prodigy named Keya is one that’s hard to describe without spoiling the twisty plot, but it’s an important one. In India, the actor had grown accustomed to being a lead, but here she was happy to delve into a more supporting part — as long as it had sub...