Fed official: Bank rules under review in wake of SVB failure
March 28, 2023 GMTWASHINGTON (AP) — The Federal Reserve’s bank supervisors warned Silicon Valley Bank’s management as early as the fall of 2021 of risks stemming from its unusual business model, a top Fed official said Tuesday, but its managers failed to take the steps necessary to fix the problems.
Small businesses weigh banking options amid bank turmoil
March 28, 2023 GMTNEW YORK (AP) — Sarah Walker, owner of Nuance Interior Design Showroom in Bellevue, Washington, thought she had her banking arrangements fairly well protected. She kept deposits at Wells Fargo and a brokerage account at Fidelity under the federal insurance cap of $250,000.
Apple rolls out buy now, pay later service, with guardrails
March 28, 2023 GMTNEW YORK (AP) — Apple is getting into the buy now, pay later space with a few tweaks to the existing model — including no option to pay with a credit card. The company will roll out the product to some consumers this spring, and will begin reporting the loans to credit bureaus in the fall.
FTX founder Bankman-Fried charged with paying $40M bribe
March 29, 2023 GMTNEW YORK (AP) — FTX founder Sam Bankman-Fried was charged with directing $40 million in bribes to one or more Chinese officials to unfreeze assets relating to his cryptocurrency business in a newly rewritten indictment unsealed Tuesday.
New California gas price law another defeat for oil industry
March 29, 2023 GMTSACRAMENTO, Calif. (AP) — It was just a few weeks ago that California Gov. Gavin Newsom called the oil industry the second most powerful force on earth, trailing only Mother Nature in its ability to bend the elements — both physical and political — to its will.
US consumer confidence ticks up in March
March 28, 2023 GMTWASHINGTON (AP) — Consumer confidence inched up in March after two straight monthly declines, even as persistent inflation, bank collapses and anxiety over a possible recession weighed on American households.
Army quickly plans new ads after Jonathan Majors’ arrest
March 28, 2023 GMTWASHINGTON (AP) — The Army is working to quickly pull together some new recruiting ads to air during the NCAA's Final Four basketball games this weekend, after being forced to yank commercials that featured actor Jonathan Majors, in the wake of his arrest last Saturday.
EPA cites 2 oil and gas firms over Permian Basin pollution
March 28, 2023 GMTWASHINGTON (AP) — Two Texas companies have resolved Clean Air Act violations with the Environmental Protection Agency by agreeing to reduce emissions of planet-warming methane and other harmful pollutants wafting from the nation's largest oil and gas producing region.
French authorities search 5 banks in Paris in tax fraud case
March 28, 2023 GMTPARIS (AP) — Authorities raided the Paris offices of five banks Tuesday on suspicion of tax fraud, French prosecutors said.
The raids come as part of five preliminary investigations opened in December 2021 on allegations of money laundering and tax fraud linked to dividend payments, the French National Financial Prosecutor’s Office said in a statement.
Biden: GOP policies would surrender tech economy to China
March 28, 2023 GMTDURHAM, North Carolina (AP) — President Joe Biden said Tuesday that Republicans' ideas for cutting the budget could undermine U.S. manufacturing and help China dominate the world economy.
Revived N. Carolina sports wagering bill wins big House vote
March 29, 2023 GMTRALEIGH, N.C. (AP) — Sports gambling in North Carolina soared over a major hurdle on Tuesday as the House voted for legislation to permit, regulate and tax wagering activities less than a year after the chamber scuttled a similar effort.
Ruling allows some pot dispensary licenses in NY to go ahead
March 29, 2023 GMTNEW YORK (AP) — New York officials will be able to issue licenses for recreational marijuana dispensaries in some parts of the state after an appeals court on Tuesday narrowed the scope of a temporary injunction that had halted them because of a legal challenge.
Deadly chocolate factory blast highlights combustion risks
March 29, 2023 GMTLast week's fatal blast at a Pennsylvania chocolate factory highlighted the combustibility of food plants in general and chocolate making in particular.
Ukrainian president extends tour of war’s front-line areas
March 29, 2023 GMTOKHTYRKA, Ukraine (AP) — Ukraine’s president visited the Sumy region in northern Ukraine on Tuesday, continuing his tour over recent days of areas of the country that have felt the brunt of Russia’s full-scale invasion and as the stage increasingly looks set for a Ukrainian counteroffensive.
Elephant in the dining room: Startup makes mammoth meatball
March 29, 2023 GMTAMSTERDAM (AP) — Throw another mammoth on the barbie?
An Australian company on Tuesday lifted the glass cloche on a meatball made of lab-grown cultured meat using the genetic sequence from the long-extinct pachyderm, saying it was meant to fire up public debate about the hi-tech treat.
Greek prime minister calls general election for May 21
March 29, 2023 GMTATHENS, Greece (AP) — Greece’s center-right prime minister, Kyriakos Mitsotakis, called a May 21 general election Tuesday as his party’s long-standing lead in opinion polls has declined in the aftermath of the country’s worst train disaster.
Probe of chocolate factory blast focuses on gas pipeline
March 29, 2023 GMTFederal safety officials are investigating the role of a natural gas pipeline in a fatal blast at a Pennsylvania chocolate factory, the National Transportation Safety Board announced Tuesday.
At trial, Minnesota says e-cigarette maker Juul targets kids
March 28, 2023 GMTMINNEAPOLIS (AP) — Minnesota Attorney General Keith Ellison personally opened his state's case against Juul Labs on Tuesday, accusing the e-cigarette maker of using “slick products, clever ads and attractive flavors” to hook children on nicotine as the first of thousands of cases against the company reached trial.
Delaware lawmakers give final approval to marijuana bills
March 28, 2023 GMTDOVER, Del. (AP) — The Delaware Senate gave final approval Tuesday to bills legalizing recreational marijuana use by adults in the state and authorizing the establishment of a state-licensed and regulated cannabis industry, setting up a potential battle with Democratic Gov.
Debt ceiling impasse: McCarthy presses Biden to negotiate
March 28, 2023 GMTWASHINGTON (AP) — House Speaker Kevin McCarthy, R-Calif., said Tuesday he's increasingly concerned about President Joe Biden's unwillingness to negotiate on lifting the nation's borrowing authority, saying in a letter to the president that the White House position could "hold dire ramifications for the entire nation.”
Judge: BNSF intentionally violated Swinomish tribe agreement
March 28, 2023 GMTSEATTLE (AP) — A federal judge ruled Monday that BNSF Railway intentionally violated the terms of an easement agreement with the Swinomish Indian Tribal Community in Washington state by running 100-car trains carrying crude oil over the reservation.
BC-Index fut.
March 28, 2023 GMTNEW YORK (AP) — Stock index futures Tuesday:
Standard & Poors Index and Nikkei 225 Index futures trade on the Chicago Mercantile Exchange.
NYSE Index futures trade on the IntercontinentalExchange.
New Mexico court weighs fight over coal-fired power plant
March 28, 2023 GMTALBUQUERQUE, N.M. (AP) — New Mexico’s largest electric provider wants the state’s highest court to overturn a 2021 decision by regulators who rejected a proposal to transfer its shares in a coal-fired power plant to a Navajo energy company.
AP sources: Two groups formally submit bids for Commanders
March 28, 2023 GMTPHOENIX (AP) — Dan Snyder's departure from the NFL is moving closer to reality.
A group led by Josh Harris and Mitchell Rales and another group led by Canadian billionaire Steve Apostolopoulos have formally submitted fully financed bids for the NFL’s Washington Commanders, according to a person with knowledge of the situation.
Michigan attorney general says income tax cut is temporary
March 28, 2023 GMTLANSING, Mich. (AP) — Michigan Attorney General Dana Nessel said Tuesday that an income tax rate reduction expected to be triggered for the 2023 tax year by the state's high revenues will be temporary and will revert back to the normal rate the following year.
Alibaba to split itself into 6 business groups
March 28, 2023 GMTNEW YORK (AP) — Alibaba is splitting itself into into six business groups as the Chinese e-commerce company attempts to become more nimble in reacting to changes in the market and increase the value of those units.
BC-Cotton
March 28, 2023 GMTNEW YORK (AP) — Cotton No. 2 Futures on the IntercontinentalExchange (ICE) Tuesday:
Clean Virginia offers endorsements, plans 8-figure spend
March 28, 2023 GMTRICHMOND, Va. (AP) — Clean Virginia, the advocacy group formed to counter the influence of Dominion Energy at the state Capitol, rolled out 52 legislative endorsements Tuesday and announced plans to boost its spending by nearly $700,000, with more to come, to help those mostly Democratic candidates get elected.
Why does Russia want tactical nuclear weapons in Belarus?
March 28, 2023 GMTRussian President Vladimir Putin's announcement that he intends to deploy tactical nuclear weapons on the territory of Belarus appears to be another attempt to raise the stakes in the conflict in Ukraine.
US makes corporate transparency commitment with 20 nations
March 28, 2023 GMTWASHINGTON (AP) — Treasury Secretary Janet Yellen affirmed America’s commitment to enhancing corporate transparency along with more than 20 other countries participating in this week's Summit for Democracy.
Is my money safe? What you need to know about bank failures
March 28, 2023 GMTNEW YORK (AP) — Recent turmoil in the banking industry may have you worried about your money.
The recent collapses of Silicon Valley Bank and Signature Bank, which catered mostly to the tech industry, were the second- and third-biggest bank failures in U.S.
US, New Mexico settle with oil company over emissions
March 28, 2023 GMTALBUQUERQUE, N.M. (AP) — A Texas oil company has reached a $6.2 million settlement with the federal government and the state of New Mexico to resolve air pollution violations.
State and federal environmental regulators announced the settlement with Matador Production Co. on Monday.
Lawmakers back Paris Olympic law despite surveillance fears
March 28, 2023 GMTPARIS (AP) — A proposed French law for the 2024 Paris Olympics that critics contend will open the door for privacy-busting video surveillance technology in France and elsewhere in Europe passed an important hurdle on Tuesday with lawmakers overwhelmingly voting for it.
Energy company: Minnesota leak fixed, plant to reopen soon
March 28, 2023 GMTMINNEAPOLIS, Minn. (AP) — A faulty pipe that allowed water containing a radioactive isotope of hydrogen to leak at a Minnesota nuclear power plant has been repaired and the plant will return to service in the next week, a spokesman for the energy company said Tuesday.
Millennial Money: Manage the costs of a chronic condition
March 28, 2023 GMTFor millennials with chronic medical conditions — or those raising kids with chronic conditions — health care can be an enormous monthly expense. About 44% of older millennials born between 1981 and 1988 have at least one chronic health condition, including migraines, major depression and asthma, according to a 2021 survey of over 4,000 adults conducted by The Harris Poll on behalf of CNBC Make It.
Report: Renewable energy growth falls short of climate goal
March 28, 2023 GMTBERLIN (AP) — Deployment of new wind and solar power plants needs to be drastically ramped up by the end of the decade to meet the world's climate goals, the International Renewable Energy Agency said Tuesday.
Buffett’s company owns nearly 24% of Occidental Petroleum
March 28, 2023 GMTOMAHA, Neb. (AP) — Billionaire Warren Buffett's company bought more than $200 million worth of Occidental Petroleum's shares over the past week, giving it control of 23.6% of the oil producer's stock.
Walgreens profit slides as COVID-19 vaccinations fade in Q2
March 28, 2023 GMTA decline in COVID-19 vaccinations cut into Walgreens second-quarter earnings, but the drugstore chain still delivered better-than-expected results.
Walgreens said Tuesday the number of vaccines it administered in the quarter tumbled 80% to 2.4 million compared to last year's quarter.
IAEA head: Deal to protect Ukrainian nuclear plant ‘close’
March 28, 2023 GMTDNIPRO, Ukraine (AP) — A deal to protect Europe's largest nuclear power plant from a catastrophic accident due to fighting in Ukraine could be “close,” the head of the International Atomic Energy Agency said Tuesday, but warned that intensified combat in the area has increased risks to the facility.
Comic Relief launches metaverse fundraiser to fight poverty
March 28, 2023 GMTCan playing more Roblox make your kids more philanthropic?
That’s what the nonprofit Comic Relief US hopes, announcing Tuesday its new Kids Relief initiative to encourage giving and community building with a new virtual world on the social gaming platform.
New sports wagering code bans college betting partnerships
March 28, 2023 GMTATLANTIC CITY, N.J. (AP) — The U.S. gambling industry is adopting a new responsible marketing code that will ban sports books from partnering with colleges to promote sports wagering, bar payments to college and amateur athletes for using their name, image or likeness, and end the use of the terms “free” or “risk-free” to describe promotional bets.
Planting a garden from seed is easy and can start now
March 28, 2023 GMTThe catalogs have been thumbed through, and the seed racks are sprouting like weeds at local nurseries and garden centers.
Mark Hamill lends ‘Star Wars’ voice to Ukrainian air-raid app
March 28, 2023 GMTKYIV, Ukraine (AP) — “Attention. Air raid alert,” the voice says with a Jedi knight’s gravitas. “Proceed to the nearest shelter.”
It's a surreal moment in an already surreal war: the grave but calming baritone of actor Mark Hamill, Luke Skywalker of “Star Wars,” urging people to take cover whenever Russia unleashes another aerial bombardment on Ukraine.
Honda recalls more than 330,000 vehicles due to mirror issue
March 28, 2023 GMTHonda is recalling more than 330,000 vehicles because heating pads behind both side-view mirrors may not be bonded properly, which could lead to the mirror glass falling out and increase the risk of a crash.
Push in states for $20 minimum wage as inflation persists
March 28, 2023 GMTALBANY, N.Y. (AP) — Just years after labor activists persuaded a handful of states to raise their minimum wage to $15 per hour, workers initially thrilled with the pay bump are finding their hard-won gains erased by inflation.
US, Japan reach deal on vital minerals for EV batteries
March 28, 2023 GMTTOKYO (AP) — Japan and the United States have reached an agreement on trade in critical minerals for electric vehicle batteries, part of an effort to ensure secure supplies of strategically important resources.
US opens investigation into Tesla seat belts coming loose
March 28, 2023 GMTDETROIT (AP) — U.S. highway safety regulators have opened yet another investigation into problems with Teslas, this time tied to complaints that the seat belts may not hold people in a crash.
California farmers flood fields to boost groundwater basin
March 28, 2023 GMTA field that has long grown tomatoes, peppers and onions now looks like a wind-whipped ocean as farmer Don Cameron seeks to capture the runoff from a freakishly wet year in California to replenish the groundwater basin that is his only source to water his crops.
Asian shares mostly rise on relief over US bank strength
March 28, 2023 GMTTOKYO (AP) — Asian shares were mostly higher on Tuesday as investors got some relief from worries over troubled U.S. banks with a planned takeover of failed Silicon Valley Bank.
Japan's benchmark Nikkei 225 lost 0.1% to 27,456.98.
Budget guru to New Mexico Legislature retires after 25 years
March 28, 2023 GMTSANTA FE, N.M. (AP) — The director of the budget and accountability office for the New Mexico Legislature is retiring from the agency he led for 25 years through a historic recession, a collapse in the oil economy, the COVID-19 pandemic and a new and unprecedented financial windfall.
Do Adani’s woes matter for India’s clean energy transition?
March 28, 2023 GMTBENGALURU, India (AP) — When the bidders for India's multibillion-dollar incentive to make solar components were announced in early March, the absence of corporate behemoth Adani Group was conspicuous.
Chipotle agrees to pay after closing store that sought union
March 28, 2023 GMTPORTLAND, Maine (AP) — Chipotle Mexican Grill has agreed to pay $240,000 to former employees as part of a settlement stemming from a complaint that the company violated federal law by closing a restaurant where workers wanted to unionize.
Train derails in rural North Dakota and spills chemicals
March 28, 2023 GMTWYNDMERE, N.D. (AP) — A Canadian Pacific train derailed in rural North Dakota Sunday night and spilled hazardous materials. But local authorities and the railroad said there is no threat to public safety.
California lawmakers OK potential fines for high gas prices
March 28, 2023 GMTSACRAMENTO, Calif. (AP) — California lawmakers on Monday approved the nation's first penalty for price gouging at the pump, voting to give regulators the power to punish oil companies for profiting from the type of gas price spikes that plagued the nation's most populous state last summer.
Jumbled wreckage complicates chocolate factory blast probe
March 28, 2023 GMTInvestigators looking for the cause of a deadly explosion that leveled part of a Pennsylvania chocolate factory faced an even more difficult task Monday as they combed through wreckage that was extensively picked apart and moved around during the intensive weekend search for victims and survivors.
Lyft to pick up new CEO amid deepening post-pandemic losses
March 27, 2023 GMTLyft co-founders Logan Green and John Zimmer are relinquishing their leadership roles to make way for a former Amazon executive as the ride-hailing service struggles to recover from the pandemic while long-time rival Uber has been regaining its momentum.
What can Google’s AI-powered Bard do? We tested it for you
March 27, 2023 GMTTo use, or not to use, Bard? That is the Shakespearean question an Associated Press reporter sought to answer while testing out Google's artificially intelligent chatbot.
Tiger and Trout get together to build New Jersey golf club
March 27, 2023 GMTVINELAND, N.J. (AP) — Three-time American League MVP Mike Trout always wanted a golf course, and he picked 18-time major champion Tiger Woods to build it for him.
Trout, the 10-time All-Star centerfielder for the Los Angeles Angels, and a business partner in New Jersey are building a golf club called “Trout National — The Reserve” not far from where Trout grew up in southern New Jersey.
Black, Hispanic investors struggle with faith in crypto
March 27, 2023 GMTNEW YORK (AP) — A software developer twice invested his savings in cryptocurrencies, only to lose it all. But he still promotes it to the Black community and would like to get back in himself.
A recent college graduate and a single mom are dabbling hopefully in bitcoin after attending a crypto workshop sponsored by rapper Jay-Z at the public housing complex where the hip-hop star grew up.
BC-Index fut.
March 27, 2023 GMTNEW YORK (AP) — Stock index futures Monday:
Standard & Poors Index and Nikkei 225 Index futures trade on the Chicago Mercantile Exchange.
NYSE Index futures trade on the IntercontinentalExchange.
Minnesota suit against e-cigarette maker Juul goes to trial
March 27, 2023 GMTMINNEAPOLIS (AP) — Minnesota Attorney General Keith Ellison is slated to lead off opening statements expected for Tuesday in his state's lawsuit against Juul Labs – marking the first time any of the thousands of cases against the e-cigarette maker over its alleged marketing to young people is going to play out in a courtroom.
Biden’s moves on Alaska drilling, TikTok test young voters
March 27, 2023 GMTTEMPE, Ariz. (AP) — Recent moves by President Joe Biden to pressure TikTok over its Chinese ownership and approve oil drilling in an untapped area of Alaska are testing the loyalty of young voters, a group that’s largely been in his corner.
How major US stock indexes fared Monday 3/27/2023
March 27, 2023 GMTStocks closed mostly higher on a steadying Wall Street as battered banks showed more strength, at least for now.
The S&P 500 rose 0.2% Monday. The Dow also rose, while the Nasdaq fell.
Markets have been in turmoil following the second- and third-largest U.S.
Blackbaud, International Flavors rise; Carnival, MAG fall
March 27, 2023 GMTNEW YORK (AP) — Stocks that traded heavily or had substantial price changes Monday:
International Flavors & Fragrances Inc., up $5.35 to $89.62.
The ingredients producer for food, cosmetics and consumer products reaffirmed its first-quarter financial forecasts.
*‥ *‥ *Open*High*Low*Settle* Chg.
March 27, 2023 GMTNEW YORK (AP) — Cotton No. 2 Futures on the IntercontinentalExchange (ICE) Monday:
BC-Cotton
March 27, 2023 GMTNEW YORK (AP) — Cotton No. 2 Futures on the IntercontinentalExchange (ICE) Monday:
Closing prices for crude oil, gold and other commodities
March 27, 2023 GMTBenchmark U.S. crude oil for May delivery rose $3.55 to $72.81 a barrel Monday. Brent crude for May delivery rose $3.13 to $78.12 a barrel.
Wholesale gasoline for April delivery rose 9 cents to $2.68 a gallon.
St. Louis sues Kia, Hyundai over rash of car thefts
March 27, 2023 GMTST. LOUIS (AP) — A federal lawsuit filed Monday by the city of St. Louis accuses automakers Kia and Hyundai of failing to install industry-standard anti-theft technology, resulting in thousands of vehicle thefts in the Missouri city.
South Dakota gov’s veto of cryptocurrency regulations upheld
March 27, 2023 GMTSouth Dakota's House failed Monday to override Gov. Kristi Noem's recent veto of a bill that would have created government regulations for the use of cryptocurrency in the state.
The bill had passed smoothly throughout the legislature, and Noem's veto of last week was upheld on a 37-30 vote.
Zelenskyy, atomic agency chief discuss nuclear plant fears
March 27, 2023 GMTZAPORIZHZHIA, Ukraine (AP) — The U.N.'s atomic energy chief warned during a meeting Monday with Ukrainian President Volodymyr Zelenskyy that the perilous situation at Europe’s largest nuclear plant “isn’t getting any better” as relentless fighting in the area keeps the facility at risk of a disaster.
Deal to buy Silicon Valley Bank calms bank fears, for now
March 27, 2023 GMTNEW YORK (AP) — First Citizens Bank is buying much of Silicon Valley Bank, the tech-focused financial institution whose failure this month set off a chain reaction that helped rattle faith in banks around the world.
Kimberly Palmer: How to use a tax refund to fight inflation
March 27, 2023 GMTIf inflation has eaten away at your budget the way waves erode a beach, then your tax refund might just provide a much-needed protective barrier.
As of March, prices are up 6% over the past 12 months, according to the most recent consumer price index.
Finland’s NATO membership: What’s next?
March 27, 2023 GMTHELSINKI (AP) — Finland has moved one step closer to joining NATO after Hungary ratified the Nordic country’s bid on Monday. A similar decision is expected in the coming weeks from Turkey, the only alliance member that hasn’t approved Finland’s membership.
Twitter celebs balk at paying Elon Musk for blue check mark
March 27, 2023 GMTWilliam Shatner, Monica Lewinsky and other prolific Twitter commentators — some household names, others little-known journalists — could soon be losing the blue check marks that helped verify their identity on the social media platform.
Binance and founder Changpeng Zhao sued by CFTC
March 27, 2023 GMTBinance and its founder Changpeng Zhao are being sued by the Commodity Futures Trading Commission for numerous alleged violations of the Commodity Exchange Act and CFTC regulations.
Binance’s former chief compliance officer, Samuel Lim, was also charged with aiding and abetting Binance’s violations.