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JPMorgan profit jumps 35%, but CEO says geopolitics and gov’t inaction have led to ‘dangerous time’

Published Tue, 05 Nov 2024 03:30:39 GMT

NEW YORK (AP) — JPMorgan Chase’s third quarter profit soared 35% from last year, fueled by a rapid rise in interest rates, but the bank’s CEO, Jamie Dimon, issued a sobering statement about the current state of world affairs and economic instability. “This may be the most dangerous time the world has seen in decades,” Dimon wrote in the bank’s earnings statement. Dimon laid out a laundry list of major issues: the Russia-Ukraine War, the new war between Israel and the Palestinians in Gaza, high levels of government debt and deficits, high inflation, as well as the tight labor market, where worker demands for increased wages has led to high-profile strikes in manufacturing and entertainment. “While we hope for the best, we prepare (JPMorgan) for a broad range of outcomes so we can consistently deliver for clients no matter the environment,” he said. Dimon often weighs in on global and economic issues that go beyond the scope of banking. He’s often seen as the b...

Ford recalls over 238,000 Explorers to replace axle bolts that can fail after US opens investigation

Published Tue, 05 Nov 2024 03:30:39 GMT

DETROIT (AP) — Ford is recalling more than 238,000 Explorers in the U.S. because a rear axle bolt can fail, potentially causing a loss of drive power or allowing the SUVs to roll away while in park.The recall comes after U.S. safety regulators opened an investigation into the problem after getting two complaints that repairs didn’t work in two previous recalls this year and in 2022.Affected are certain Explorers from the 2020 through 2022 model years. The National Highway Traffic Safety Administration says in documents posted Friday on its website that the rear axle horizontal mounting bolt can fracture and cause the driveshaft to disconnect, increasing the risk of a crash.Dealers will replace a bushing and the rear axle bolt. They also will inspect the rear axle cover for damage near the bolt hole and replace the cover if damage is found. Owners will be notified by letter starting Nov. 6.Ford said in documents that it knows of 396 reports of rear axle bolt failures, and fewer...

Blast strikes Shiite mosque during Friday prayers in Afghanistan’s north

Published Tue, 05 Nov 2024 03:30:39 GMT

KABUL, Afghanistan (AP) — A blast struck a Shiite mosque during Friday prayers in Afghanistan’s north, a police spokesperson said. He confirmed there were casualties but did not give a figure or other details about the incident. Taliban footage from the mosque in the city of Pol-e-Khomri, the provincial capital of Baghlan, showed debris strewn over a red-carpeted floor, scattered personal items and bodies covered with shrouds. Baghlan police spokesman Sher Ahmad Borhani said he would share information about the blast later. There was no immediate claim of responsibility, but blame is likely to fall on the Islamic State group, which targeted Afghanistan’s minority Shiites in past large-scale attacks.The regional affiliate of IS, known as the Islamic State in Khorasan Province, increased attacks on mosques and minorities across the country after the Taliban seized power in August 2021.IS, which has operated in Afghanistan since 2014, is seen as the greatest security challenge facing t...

US Defense Secretary Austin tells Israel’s Netanyahu ‘we have your back’ after the attack by Hamas

Published Tue, 05 Nov 2024 03:30:39 GMT

TEL AVIV, Israel (AP) — U.S. Defense Secretary Lloyd Austin met with Israeli Prime Minister Benjamin Netanyahu and other senior government leaders on Friday to reaffirm U.S. support and was seeing firsthand some of the weapons and security assistance that Washington rapidly delivered to Israel in the first week of its war with the militant Hamas group.Austin is the second high-level U.S. official sent by President Joe Biden to visit Israel in two days. His quick trip from Brussels, where he was attending a NATO defense ministers meeting, came a day after Secretary of State Antony Blinken arrived in the region. Blinken is continuing the frantic Mideast diplomacy, seeking to avert an expanded regional conflict.Also Friday, the Israeli military directed hundreds of thousands of residents in Gaza City to evacuate “for their own safety and protection,” ahead of a feared Israeli ground offensive. Gaza’s Hamas rulers responded by calling on Palestinians to “remain steadfast in your h...

7 killed and 16 injured as a van overloaded with migrants crashes in southern Germany

Published Tue, 05 Nov 2024 03:30:39 GMT

BERLIN (AP) — A van packed with migrants crashed at a highway junction in southern Germany on Friday after the driver accelerated to avoid a police check, killing seven people and injuring 16, authorities said. A police patrol noticed the overloaded vehicle on the A94 highway east of Munich at about 3:15 a.m. and tried to stop it, police said. The driver didn’t react and accelerated to 180 kph (112 mph). Shortly afterward, he lost control of the vehicle when he took a turning off the highway and the van overturned, hurling several of the 23 people on board out of the vehicle.Seven people were killed, including a 6-year-old child, police said in a statement. The other 16 were injured, some of them seriously, and were taken to hospitals. The people on board were Syrian and Turkish citizens.The driver and suspected smuggler, a 24-year-old stateless man resident in Austria, was among the injured. Police said he was formally detained at a hospital and is under investigation on susp...

Iowa State’s Jack Trice Stadium remains only major college football stadium named for a Black man

Published Tue, 05 Nov 2024 03:30:39 GMT

George Trice is thankful that the tragic story of his cousin, Jack Trice, still is being told a century after he died from injuries sustained on a football field.Still, George Trice is not satisfied.Jack Trice, Iowa State’s first Black athlete, carried an immense burden into his first varsity start at Minnesota in Oct. 6, 1923. He wrote in a letter the day before the game that the “honor of my race, family and self are at stake.”Trice was trampled during that game in Minneapolis, and he died two days later upon his return to Ames, Iowa. He was 21.His memory lives on. The field at Iowa State was named for Jack Trice, who was born in Ohio, in 1988. After years of pressure from students, the stadium was named for him in 1997, making it the first major college stadium to be named for a Black person. Iowa State honored Jack Trice this past weekend, including during the Cyclones’ game against TCU. The team wore special uniforms that date to the era in which Trice played. There was t...

RCMP aware of social media threats to Jewish community, calls for vigilance

Published Tue, 05 Nov 2024 03:30:39 GMT

OTTAWA — The RCMP says it’s aware of social media posts threatening the Jewish community in Canada, calling it a time for “increased vigilance.” The statement comes as several Canadian polices forces, including in Toronto, Ottawa and Vancouver, say they have upped patrols in response to the Israel-Hamas war but have not identified any specific local threats. A spokesperson for the Mounties declined to answer further questions about the social media threats, including whether the force was investigating.The statement says any threats are taken seriously and investigated as warranted. The Ontario Provincial Police issued a statement Friday morning saying it was aware of “global online threats of violence regarding the situation in the Middle East.”Hamas’ deadly rampage through southern Israel last Saturday and the ensuing Israeli bombardment in Gaza has killed more than 2,800 people. This report by The Canadian Press was first published Oct. 13, 202...

How the NFT market rose and crashed, and who’s left holding the bill

Published Tue, 05 Nov 2024 03:30:39 GMT

In today’s Big Story Podcast, a couple of years ago, NFTs were the next big thing. They were everywhere, with celebrity endorsements, big media companies jumping on the bandwagon and ceaseless promotion from nearly everyone in the crypto sphere. They were “valued” as one-of-a-kind tokens to exclusive communities and riches to come.Today? A new report finds that 95 per cent of them are absolutely worthless, and the communities that sprung up around them are ghost towns. Ed Zitron is the writer of Where’s Your Ed At? and CEO of EZPR. “It’s scary that this took off, but actually quite funny how it crashed. But still, there are tons of victims,” said Zitron. Millions of dollars have been lost. But whose millions? The people who created and promoted them? Or the folks who saw a chance to join that club and put the money they couldn’t afford to lose into a risky play?You can subscribe to The Big Story podcast on Apple Podcasts, Google and Spotify.Y...

Dean's 'Weekender' features a few activities for a rainy weekend

Published Tue, 05 Nov 2024 03:30:39 GMT

CHICAGO — It's going to be a rainy, cool fall weekend in the Chicago area, so its expected that many will be indoors over the next three days.The good news is that there are a number of activities for people to check out and stay dry. Dean Richards had a number of those events in his "Weekender" on Friday's WGN Morning News. He featured concerts by Phish, The Temptations & The Four Tops, Legends of Hip Hop, Gladys Knight, The Zombies, performances of "A Wonderful World," "Lucha Teotl," comedy shows by Jon Lovitz, Gina Brillon, along with three fall festivals.Dean also took a look at a few other events going on in the area as well, and you can see that by watching the full "Weekender" from the October 13 morning news in the video above. Get Dean's reviews and A-List interviews delivered right to your inbox. Sign up for Dean's Downloads weekly newsletter. You'll also get his Dean Cooks recipes too!

Leander debates closing low-water crossing with a history of crashes

Published Tue, 05 Nov 2024 03:30:39 GMT

LEANDER, Texas (KXAN) -- Leander city council is considering permanently closing a low-water crossing on County Road 177 after a history of crashes and accidents, including the time a school bus was swept by flood waters after the driver tried to cross, but neighbors in the area are asking the city to pump the brakes. City council discussed the closure during an Oct. 10 city council meeting. The ordinance that was introduced said the road is "narrow" and in "poor condition." The fire and police departments both said it would not disrupt services if the road was closed. Gina Ellison, the public works director for Leander, said there were 24 crashes on this area of the road. That's because it is only wide enough for one car to cross, but traffic moves in both directions along CR 177. In 2018, a school bus tried to cross the road during a storm when water was rushing over it. Dashcam video of the bus showed it being swept away. One child and the driver were on board at the time. In 202...