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Bank bailout reforms spark clash between Brussels and governments

Published Fri, 21 Feb 2025 10:53:01 GMT

The European Commission is on collision course with a group of EU capitals, led by Berlin, over plans to reform rules for bailouts of failing banks.The bloc’s executive wants to stop countries throwing public money at smaller lenders, which have until now escaped tougher rules and have continued tapping the public purse. Governments are worried they will end up footing the bill for collapses in other countries.The proposals, due to be published on Tuesday, were described as “contentious” by one EU diplomat, speaking on condition of anonymity because of the sensitivity of the issue. The ensuing battle between the Commission and governments over the final shape of the legislation is likely to last months.A spate of banking failures in the U.S. has thrust the terror of bank runs and financial contagion from panicking depositors back into the spotlight. Despite that, the Commission isn’t going to find it easy to toughen up the EU’s regime.It’s just th...

Marchand, NHL-best Bruins top Panthers 3-1 in Game 1

Published Fri, 21 Feb 2025 10:53:01 GMT

BOSTON (AP) — Brad Marchand scored his 50th career playoff goal, David Pastrnak and Jake DeBrusk also scored, and the NHL-best Boston Bruins opened the playoffs by beating the Florida Panthers 3-1 on Monday night.Linus Ullmark, a Vezina Trophy candidate who led the league in wins (40), goals-against average (1.89) and save percentage (.938), stopped 31 shots and Tyler Bertuzzi added two assists for Boston, which controlled the game even with captain Patrice Bergeron sitting out because of illness.Matthew Tkachuk scored for the Panthers and Alex Lyon made 26 saves but gave up Marchand’s goal on a relatively easy shot.Game 2 is Wednesday night in Boston.The Bruins captured the Presidents’ Trophy, setting NHL records in points (135) and wins (65). Florida, last season’s No. 1 seed, earned the Eastern Conference’s eighth and final playoff spot with a late-season push.It’s the first playoff matchup between a No. 1 seed and the Presidents’ winner from the previous season since the award w...

Mets Notebook: Brett Baty ready for second shot in big leagues

Published Fri, 21 Feb 2025 10:53:01 GMT

LOS ANGELES — Brett Baty knew that his next major league call-up would be out of his control. Throughout spring training, the Mets’ third base prospect tried to remind himself that all he could do was go out there and try to make the club’s decision as tough as possible.Baty finally got that second call Monday when the Mets promoted him from Triple-A Syracuse. He controlled what he could control and he excelled so much in Triple-A that the Mets had to give him a shot.“Like I said all spring training, it wasn’t my decision and I just kind of had to roll with it,” Baty said Monday at Dodger Stadium. “I was grateful for the opportunity to go down there and play with those guys and then grateful for this opportunity to come up here.”Baty forced the club’s hand by crushing the ball and playing excellent defense in Triple-A.“I’ve always gone into every single day just trying to be the most consistent player that I can be,&#...

Nets on the ropes after losing Game 2, 96-84

Published Fri, 21 Feb 2025 10:53:01 GMT

PHILADELPHIA — Royce O’Neale tapped the stanchion with two hands while his teammates retreated to the bench with slumped shoulders. Jacque Vaughn had just called a timeout.Facing a double-digit lead in the waning seconds of the fourth quarter, the Nets’ coach may as well have thrown in the towel.Adjustments and depth win playoff games. Lack of each leaves a team on the ropes.Which is where the Nets find themselves — on the ropes — after a valiant effort fell short in a 96-84 loss to the Sixers in Game 2 in front of a raucous, sold-out crowd at the Wells Fargo Center on Monday.The Nets anticipated the Sixers would pick up where they left in Game 1, double-teaming star wing Mikal Bridges and limiting him to just seven second-half points on Saturday. The plan was to show help that allowed Bridges to make an easy pass against a blitzing defense.It worked early.In the first half, Cam Johnson was the beneficiary. He scored 10 points in the first quarter and r...

Bruins knock off Panthers for 1-0 series lead

Published Fri, 21 Feb 2025 10:53:01 GMT

The Bruins captured the first of what they hope will be 16 wins on the way to the Stanley Cup over the next two months on Monday at the Garden.But in their first round opening game against the Florida Panthers, the B’s were reminded of just how difficult that journey will be.The Panthers’ forecheck gave the B’s fits at times in the first two periods, but the B’s took control in the third period to grind out a 3-1 victory.The B’s, playing without captain Patrice Bergeron, got goals from David Pastrnak, Brad Marchand and Jake DeBrusk, and got another solid performance from Linus Ullmark (31 saves) in his first career playoff victoryAs one might have expected in the first game of the playoffs, the B’s exploded out of the gate, earning two quick power plays in the first five minutes and scoring on the second one.Tyler Bertuzzi pounced on the rebound of a David Krejci one-timer and made a beautiful backhand pass to Pastrnak for an easy goal at 5:58.But...

“It’s sneaky”: GTA woman cautioning others after getting hit with bank fee

Published Fri, 21 Feb 2025 10:53:01 GMT

A GTA woman is warning others to be careful when opening online bank accounts after getting hit with a fee she had no idea she signed up for.Sarah is a PC Financial customer. Just over a week ago, she checked her accounts online and noticed that the balance in her PC Money account had gone down to zero.“I only had $17-and-something-cents but I knew it was there because I saw it almost every day I would check on my card,” she explained.The entire amount was taken under an “inactivity fee” but Sarah claims she was not aware of that fee when she opened the account and received no warning that she would be charged.While only a small amount, for Sarah, any amount that suddenly disappears is significant as more Canadians struggle with rising inflation.“If I had the option I could have transferred it out and paid for a bunch of things, even my son’s lunches all week or towards our dinner,” she said.On the PC Money website, there are plenty of welcome bonuses along with the promise of...

China’s GDP grew by 4.5% in quarter, boosted by consumption

Published Fri, 21 Feb 2025 10:53:01 GMT

BEIJING (AP) — China’s gross domestic product grew 4.5% in the first quarter of the year, boosted by increased consumption and retail sales, after authorities abruptly abandoned the stringent “zero-COVID” strategy.The growth in the world’s No. 2 economy from January to March compared to the same period in 2022 was the fastest in the past year, and outpaced the 2.9% growth in the previous quarter, according to government data released Tuesday.The growth in GDP comes amid a rebound in consumption, as people flocked to shopping malls and restaurants after harsh COVID-19 restrictions were removed.In March, total retail sales of consumer goods went up by 10.6% year on year, and grew 7.1 percentage points compared to the first two months of the year.Industrial production output, which measures activity in the manufacturing, mining and utilities sectors, grew by 3.9% in March compared to the same time last year.Fixed-asset investment — in which China invests in infrastructure and other pro...

Man who killed Washington police officer gets life sentence

Published Fri, 21 Feb 2025 10:53:01 GMT

EVERETT, Wash. (AP) — The man who fatally shot a police officer in Everett, Washington, last year was sentenced Monday to life in prison without the possibility of parole. Richard Rotter, 51, apologized during his sentencing for killing officer Dan Rocha, 41, in a Starbucks parking lot in Everett, about 30 miles (48 kilometers) north of Seattle, as Rocha tried to arrest him, the Daily Herald reported.“My sincere apologies to the Rocha family and my family and everyone this has affected,” Rotter said. “I pray for everyone’s continued healing and restored peace. I ask you and everybody (to) please forgive me.”During sentencing, Snohomish County Superior Court Judge Bruce I. Weiss called the fatal shooting a “brutal execution.” The courtroom was crowded with Everett police, the city’s mayor and others.Earlier this month, a jury found Rotter guilty of aggravated first-degree murder, unlawful gun possession, possession with the intent to manufacture or distribute methamphetam...

Probe faults OAS boss for work romance, finds no misconduct

Published Fri, 21 Feb 2025 10:53:01 GMT

MIAMI (AP) — An outside investigation determined that the head of the Organization of American States showed poor judgment by carrying out a romantic relationship with a younger staffer but didn’t favor her in any salary or personnel decisions, according to a copy of the review seen by The Associated Press.The findings about Secretary General Luis Almagro’s conduct are contained in a 121-page report delivered Monday to OAS member states. And while it stopped short of clearing him of all the allegations, Almagro said the report represents closure to an issue that has divided regional governments along ideological lines and threatened to distract the democracy-building organization from its mission.“At every moment I acted with maximum transparency, putting first the organization’s interests and respecting the norms,” Almagro said in a 10-page response that was included in the report, a copy of which was shared with the AP by someone who received it on the condition of ano...

LA mayor wants $1.3B for homeless crisis, hotels for housing

Published Fri, 21 Feb 2025 10:53:01 GMT

LOS ANGELES (AP) — Democratic Mayor Karen Bass, who was elected in November after promising to take on the city’s out-of-control homeless crisis, announced Monday she would recommend spending what she called a record $1.3 billion next year to get unhoused people into shelter and treatment programs.The funding to be included in the mayor’s upcoming budget could be used in part to buy hotels or motels that would be converted to housing, while the city combs through its inventory of properties for those that could be used for sheltering homeless people. The former congresswoman’s remarks, in an annual address to City Council on the state of the city, came roughly four months into her first term.Bass added that the budget also would include funds for substance abuse treatment beds for the unhoused, but she did not specify how many. And her signature program, dubbed Inside Safe that offers homeless people motel rooms and a path to permanent housing with services, has over 1,0...