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San Francisco-based First Republic Bank may not survive, even after two multibillion-dollar bailouts

Published Fri, 07 Feb 2025 18:16:38 GMT

By Nicole Goodkind | CNNFirst Republic Bank is in a fight for its survival.The past few weeks have been brutal for the San Francisco-based lender. Now, some analysts say a collapse of the bank is imminent.“It’s becoming clearer each day” that First Republic is “toast,” said Don Bilson at Gordon Haskett, in a note Wednesday. “The only question that really needs to be answered is whether the [Federal Deposit Insurance Corporation] moves in before the weekend or during the weekend, which is when it usually does its thing.”The bank reported on Monday that its total deposits fell 41% in the first quarter, sending its stock to record lows. Shares fell by nearly 30% on Wednesday after plunging by 49% on Tuesday.The stock’s trading was halted numerous times on Tuesday and Wednesday as its rapid decline triggered volatility-triggered timeouts by the New York Stock Exchange.First Republic said in its latest earnings call that is exploring its st...

Opinion: California air board should set new truck electrification rules

Published Fri, 07 Feb 2025 18:16:38 GMT

As a 19-year-old African-American, first-year student at Laney College in Oakland and a youth climate activist, I have seen the impact that air pollution has on communities of color such as mine in Vallejo — in a region ranked sixth worst in the nation by the American Lung Association on its 2023 State of the Air report. It’s time for the California Air Resources Board to take action and adopt the Advanced Clean Fleet rule at their meeting this week.Growing up in an underserved community in the Bay Area, I have seen the devastating effects of poor air quality on the health of my family and friends. For a Girl Scouts project, I did some research and learned that children in my community suffer from asthma at rates much higher than the national average. This is unacceptable. Our state has the opportunity to lead the way in reducing harmful emissions and protecting the health of our most vulnerable communities.The Advanced Clean Fleet rule will help do just that. By setting...

California man accused of treating thousands of people without a medical license for years, DA says

Published Fri, 07 Feb 2025 18:16:38 GMT

By Nicole Norman and Taylor Romine | CNNA California man was charged last week for falsely claiming to be a licensed doctor and practicing medicine on thousands of individuals, Los Angeles District Attorney George Gascón announced in a news release Monday.Stephan Gevorkian, 44, was charged with five felony counts of practicing medicine without a certification for several years at his clinic, Pathways Medical in North Hollywood, the release said.The clinic “conducts blood tests on patients, advises them on treatments and offers treatment for serious conditions including cancer and viral infections,” the release said.The charges come after an undercover investigator saw Gevorkian for a consultation in November 2022. During the visit, Gevorkian “allegedly failed to accurately address abnormal levels of hormones that would indicate a serious medical condition,” the release said.The case is also being investigated by the California Department of Consumer Affairs, ...

Walters: Is it time for California to finally raise alcohol taxes?

Published Fri, 07 Feb 2025 18:16:38 GMT

By any measure, California is a high-tax state, right up there with New York, New Jersey and Massachusetts.Our personal income and sales tax rates are near the top and despite Proposition 13, California’s iconic property tax rate limit, Californians’ property tax bills are relatively high, thanks to our extremely high housing and commercial real estate values.There is, however, a notable exception – California’s minimal taxes on alcoholic beverages.California ranks among the lowest states in taxing distilled spirits (whiskey, vodka, tequila, etc.), wine and beer.For instance, our distilled spirits tax rate, $3.30 a gallon, stands in sharp contrast to other states, including Washington at $32.52 and Oregon at $21.98. Only a few states are lower, such as Arizona at $3 and Texas at $2.40, according to a compilation by the Tax Foundation.The Tax Foundation also rates our beer tax, 20 cents a gallon, as 30th highest, and our wine tax, also 20 cents a gallon, as 45th and very close to the...

Dwyane Wade, who has trans daughter, says he left Florida because family ‘would not be accepted’

Published Fri, 07 Feb 2025 18:16:38 GMT

Former NBA star Dwyane Wade has discussed his family’s decision to leave the state of Florida, which he hinted at being due to the current political climate around transgender policies.Wade’s conversation will air Thursday on “Headliners with Rachel Nichols,” Showtime’s new talk show that centers around the reporter’s meetings with top NBA figures.Wade was asked about Florida politicians who stand against LGBTQ policies, and how the situation affects families like his own. In 2020, Wade’s 15-year-old daughter Zaya came out as transgender.“That’s another reason why I don’t live in that state,” Wade told Nichols in a clip shared with People Magazine. “A lot of people don’t know that. I have to make decisions for my family, not just personal, individual decisions.”The former Miami Heat player, 41, said that he does appreciate the tax incentives in the state, as well as the fact that Miami-Dade County was temporarily renamed “Miami-Wade County” in his honor.Related ArticlesSports | ...

Make the best use of every new space 

Published Fri, 07 Feb 2025 18:16:38 GMT

New construction homes in Northern California meet the contemporary needs of homebuyers. Builders invest a vast amount of research and analysis into floor plan design and finishes.In doing so, builders ensure that homes maximize every possible square inch of living space, counter space, storage space, visibility and privacy throughout the home.But the new-home buyer can make spaces function even better for their needs by incorporating a few tips when planning paint colors, furnishings and decor for the new home.Meet with the design expertsFirst, plan to speak with each builder’s design center experts. Ask which color schemes and home decor finishes are still on-trend and which are losing their luster.Before the design consultations, measure and take photos of existing furniture that will be making the move to the new house, especially any larger items such as dining sets, sofas, sectionals, bed frames, ottomans and side or end tables.Ask about ways to couple modern trends with more ...

Analysis: China’s Ukraine plan mixes peace, self-interest

Published Fri, 07 Feb 2025 18:16:38 GMT

BEIJING (AP) — Chinese leader Xi Jinping’s plan to send an envoy to Ukraine allows his government to deflect criticism of its support for Moscow and pursue a bigger role as a diplomatic force, but Xi faces daunting obstacles if he is serious about trying to help end the 14-month-old war.The biggest: Neither Ukraine nor Russia is ready to stop fighting.Xi’s announcement Wednesday in a phone call with Ukrainian President Volodymyr Zelenskyy prompted optimism Beijing might use its warm relations with Russia’s Vladimir Putin to push for peace. That was followed by skeptical questions about whether Beijing is more focused on ending an invasion it refuses to criticize, or serving its own interests.China’s starting point is a peace proposal issued in February that called for a ceasefire, negotiations and an end to sanctions against Russia. It offered few details, but repeated Russian accusations that Western governments were to blame for the invasion.China has good reason...

Algeria, Egypt among 4 bids to host 2027 African Cup

Published Fri, 07 Feb 2025 18:16:38 GMT

CAIRO, Egypt (AP) — Algeria and Egypt are among four bidders competing to host the 2027 African Cup of Nations, the Confederation of African Football said Thursday.Botswana and a co-hosting project between neighbors Kenya, Uganda and Tanzania also entered the contest. They now have a May 23 deadline to submit a confirmed bid with guaranteed government support.CAF previously said its executive committee will choose both the 2025 and 2027 tournament hosts at the same time “before September this year.”Algeria is also in the 2025 contest, which includes Morocco, South Africa, Zambia and a Benin-Nigeria co-host bid. Guinea was removed as host by CAF last year.Algeria hosted the Africa Cup in 1990 and Egypt last staged the competition in 2019. Botswana, Kenya, Uganda and Tanzania have never hosted the tournament.The 2023 edition of the biennial tournament will be played next year in Ivory Coast, starting in January. Senegal is the current champion.___More AP soccer: https://apnews.com/hub...

3 teenagers hospitalized after car crash in Mount Airy

Published Fri, 07 Feb 2025 18:16:38 GMT

Three teenagers have been hospitalized following a single-vehicle crash Thursday morning in Mount Airy, Maryland.The WTOP Traffic Center reported that the crash happened on Ridge Road near Wind Song Way just after midnight.One of the teens was flown to the University of Maryland’s R. Adams Cowley Shock Trauma Center in Baltimore, Maryland State Police told WTOP.Two other teenagers were sent to nearby hospitals while a fourth teen, who was in the vehicle, wasn’t transported.An investigation into the crash is underway.Below is a map of the area where the crash occurred. Source

Covenant Logistics: Q1 Earnings Snapshot

Published Fri, 07 Feb 2025 18:16:38 GMT

CHATTANOOGA, Tenn. (AP) — CHATTANOOGA, Tenn. (AP) — Covenant Logistics Group, Inc. (CVLG) on Thursday reported profit of $16.3 million in its first quarter.On a per-share basis, the Chattanooga, Tennessee-based company said it had net income of $1.20. Earnings, adjusted for non-recurring gains and to account for discontinued operations, were 93 cents per share.The truckload transportation services provider posted revenue of $266.9 million in the period._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CVLG at https://www.zacks.com/ap/CVLGSource