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LaGuardia Airport Collision Investigation Focuses on Fire Truck Transponder Failure
WorldAPBBCwsj+15wapoThe GuardianCNNtimes-ukirozhlastvn24Business Insiderdigi24+7 more15d ago18 sources

LaGuardia Airport Collision Investigation Focuses on Fire Truck Transponder Failure

An Air Canada plane collided with a fire truck on a runway at LaGuardia Airport, killing two pilots and injuring dozens. Investigations into the fatal crash are now focusing on the fire truck's lack of a transponder, which would have shown its location to the control tower and activated a runway warning system.

Half a million lose power as storm lashes US from Midwest to east coast
EnvironmentThe Guardian22d ago

Half a million lose power as storm lashes US from Midwest to east coast

Snow, tornadoes and fierce winds disrupt flights and leave homes and businesses in multiple states in the dark Sign up for the Breaking News US email to get newsletter alerts in your inbox Half a million US homes and businesses were without power on Tuesday morning after a potent storm system brought a mix of snow, strong winds, cold temperatures and rainfall to areas from the Midwest to the east coast. As of Tuesday morning, there were about 107,000 power outages reported in Michigan, acco...

Storm Causes Widespread US Flight Disruptions
Worldhindumyjoyonline1mo ago2 sources

Storm Causes Widespread US Flight Disruptions

A storm has paralyzed travel across the U.S., leading to over 8,000 flight disruptions and cancellations, with airlines cautioning that challenging conditions persist.

Debate on Smart Investments and East Coast Line in Sweden
Politicssvenska-dagbladet1mo ago

Debate on Smart Investments and East Coast Line in Sweden

Niklas Säwén (S) and Peter Haglund from Nya Ostkustbanan AB argue that calculating smart investments requires more aspects than those highlighted by debaters and the Swedish Transport Administration. They emphasize that individual projects are part of a larger whole.

Bikini-clad mermaid sales stunt in Malaysia triggers religious probe
CultureSCMP1mo ago

Bikini-clad mermaid sales stunt in Malaysia triggers religious probe

A mermaid-themed sales gimmick has landed two drinks traders in hot water in Malaysia’s conservative east coast state of Kelantan, after religious authorities launched an investigation into a viral video that drew outrage during the holy fasting month of Ramadan. The 25-second clip, which shows one of the traders prancing about in front of their drinks stall dressed in a rainbow-coloured mermaid costume complete with a bikini top, triggered a wave of online condemnation. Widely described as...

Steven Spielberg Flees California Amid Raging Wealth Tax Battle
Politicszerohedge1mo ago

Steven Spielberg Flees California Amid Raging Wealth Tax Battle

Steven Spielberg Flees California Amid Raging Wealth Tax Battle Another day, another rich liberal leaving a state over policies they promoted.  In today's episode of modern hypocrisy, Steven Spielberg, director of blockbuster hits like Jaws, E.T., Poltergeist and Saving Private Ryan, has moved to Manhattan, according to the Los Angeles Times. A spokesperson for one of Hollywood’s most reliable Democrat Party donors was quick to insist the relocation has nothing to do with California’s highly controversial wealth tax proposal. “Steven’s move to the East Coast is both long-planned and driven purely by his and Kate Capshaw’s desire to be closer to their New York-based children and grandchildren,” spokeswoman Terry Press told the newspaper. Unsurprisingly, Press declined to say where Spielberg stands on the wealth tax when asked. California is now seriously considering a new wealth tax targeting billionaires, including a levy on unrealized gains. The idea has already spooked investors and contributed to several high-profile tech figures running for the exits. It’s a familiar pattern when progressive policies finally start to bite, a surprising number of billionaires discover a sudden deep affection for Florida, Texas, or even New York. Google founders Larry Page and Sergey Brin quietly began unwinding portions of their financial empires in California in the days leading up to Christmas, while Meta founder and CEO Mark Zuckerberg dropped $150 million on a Miami mansion. Zuckerberg and his wife, Priscilla Chan had been looking for a home on Indian Creek Island, the ultra-exclusive, heavily guarded enclave nicknamed “Billionaire Bunker” that is already home to Amazon founder Jeff Bezos, former NFL star quarterback Tom Brady, and Jared Kushner and Ivanka Trump. Even Jeffrey Epstein pal Reid Hoffman, LinkedIn co-founder and major Democratic donor, has taken aim at the billionaire tax proposal, slamming it as a "horrendous idea" that could drive tech founders and executives out of the state. Rep. Khanna reached out to me to discuss the proposed California wealth tax; and while I am against the proposed tax, I'm always open to dialogue with our elected leaders. The proposed CA wealth tax is badly designed in so many ways that a simple social post cannot cover all of… January 7, 2026 "The proposed CA wealth tax is badly designed in so many ways that a simple social post cannot cover all of the massive flaws. One well-documented example is the horrendous idea to tax illiquid stock in the proposal. Poorly designed taxes incentivize avoidance, capital flight, and distortions that ultimately raise less revenue," Hoffman said of the plan. Hedge fund billionaire Bill Ackman, a longtime Democrat who voted for Trump in the 2024 election, warned that California is on a "path to self-destruction." California is on a path to self-destruction. Hollywood is already toast and now the most productive entrepreneurs will leave taking their tax revenues and job creation elsewhere. And then the Democrats highlight @CAgovernor Newsom as a great leader. Crazy. https://t.co/bFyLhARrNn December 27, 2025 "Hollywood is already toast, and now the most productive entrepreneurs will leave, taking their tax revenues and job creation elsewhere,” Ackman said. Our readers will recall that Tesla and SpaceX Ceo Elon Musk was one of the first big names to leave California years ago, citing the state’s punishing taxes and its embrace of radical left-wing governance. The list keeps growing. Buckle up, Newsom. Musk was the first and Spielberg won’t be the last. Tyler Durden Fri, 02/20/2026 - 16:40

Panics, Politics, & Power: America's 3 Experiments With Central Banks
Financezerohedge1mo ago

Panics, Politics, & Power: America's 3 Experiments With Central Banks

Panics, Politics, & Power: America's 3 Experiments With Central Banks Authored by Andrew Moran via The Epoch Times, The Federal Reserve, established more than a century ago, is the United States’ third experiment with central banking. For much of its existence, the institution maintained a low public profile. Only after the 2008 global financial crisis did the Fed begin communicating more openly, introducing post-meeting press conferences and allowing monetary policymakers to engage more frequently with the media. Greater transparency, however, has brought greater scrutiny. Public sentiment toward the Fed and its leadership has fluctuated over the years. Today, YouGov polling suggests the central bank is viewed favorably by 44 percent of Americans and unfavorably by 18 percent. If the Fed pursues a series of reforms, it will have “another great 100 years,” said Kevin Warsh, who was nominated by President Donald Trump to serve as the institution’s next chair. Comparable to past central banks, Warsh said, the current Federal Reserve System is beginning to lose the consent of the governed. “You can think about the Jacksonians of prior times say that the central bank seems like they’re trying to focus and they’re all preoccupied with those special interests on the East Coast, and they’ve lost track of what’s happening to us in the center of the country,” Warsh said in a July 2025 interview with the Hoover Institution’s Peter Robinson. “It’s a version of what worries me today.” What happened in the past, and why is it relevant to today’s central bank? The First Bank of the United States In the aftermath of the American Revolution, the United States faced a series of immense economic disruptions, forcing the nation’s architects to rebuild the economy. The objective was to lower inflation, restore the value of the nation’s currency, repay war debt, and revive the economy. Alexander Hamilton, the first secretary of the Treasury under the new Constitution, proposed establishing a national bank modeled on the Bank of England. Hamilton stated that a U.S. version would perform various duties, including issuing paper money, serving as the government’s fiscal agent, and protecting public funds. Not everyone shared Hamilton’s ebullience over a central bank. Thomas Jefferson, for example, feared that such an institution would not serve the nation’s best interests. Additionally, Jefferson and other critics argued that the Constitution did not grant the government the authority to create these entities. Nevertheless, Congress enacted legislation to establish the Bank of the United States. President George Washington then signed the bill in February 1791. Two of America's founding fathers: Thomas Jefferson (L) and Alexander Hamilton. The White House While bank officials did not conduct monetary policy as modern central banks do, they did influence the supply of money and credit, as well as interest rates. The entity managed the money supply by controlling when to redeem or retain state‑bank notes. If it sought to tighten credit, it would require payment in gold or silver, thereby draining state banks’ reserves and limiting their ability to issue new notes. If it wanted to expand credit, it simply held on to those notes, boosting state‑bank reserves and enabling them to lend more. By 1811, the national bank’s charter expired. While there had been discussions of allowing it to continue maintaining operations, Congress—both chambers—voted against renewing its mandate by a single vote. Its closure came shortly before the War of 1812, which fueled inflation and weakened the currency. Second Bank of the United States Lawmakers believed another central bank was critical at a time of fiscal, inflationary, and trade pressures. Congress used a similar 20-year model to produce the Second Bank of the United States, headed by Nicholas Biddle. The second incarnation had a federal charter, was privately owned, and was tasked with regulating state banks (with gold and silver for note redemption). President James Madison, who opposed the first central bank on constitutional grounds, supported the new institution out of financial necessity. Its creation stabilized credit and brought down inflation. However, by the 1830s, the bank faced strong opposition, particularly from President Andrew Jackson. Labeled the Bank War, Jackson engaged in a years-long initiative to dissolve the central bank. Jackson claimed the national bank was a tool for the wealthy eastern elite and a threat to self-government. “The Jacksonians described themselves as conscious hard-money men who supported the rigid discipline of the gold standard, yet they opposed the newly powerful national Bank because it restrained the expansion of credit and, thus, thwarted robust economic expansion,” author William Greider wrote in “Secrets of the Temple.” In 1832, Jackson vetoed legislation to recharter the bank four years early, delivering a fiery message that historians say was one of the most important vetoes in the nation’s history. “It is to be regretted that the rich and powerful too often bend the acts of government to their selfish purposes. Distinctions in society will always exist under every just government,” Jackson wrote. “There are no necessary evils in government. Its evils exist only in its abuses. If it would confine itself to equal protection, and, as Heaven does its rains, shower its favors alike on the high and the low, the rich and the poor, it would be an unqualified blessing. In the act before me, there seems to be a wide and unnecessary departure from these just principles.” The charter expired in 1836, leading to the panic of 1837. An economic crisis unfolded, leading to bank failures, business bankruptcies, rising unemployment, and contracting credit. While the collapse of the central bank is often considered a leading cause, the British also urged London banks to reduce credit to American merchants, causing a sharp drop in global trade. As the smoke cleared and dust settled, it was not until the 1840s that the United States embarked on a historic economic recovery, now known as the Free Banking Era. Banking was decentralized, and finance was largely unregulated. Despite an erratic financial system, the U.S. economy grew rapidly: agricultural production accelerated, railroads were built, and the country expanded westward. Additionally, deflation was paramount throughout most of the economic expansion. The Federal Reserve System The panic of 1907 led to the creation of the Federal Reserve System. Following years of heavy borrowing, speculative commodities investments (mainly copper), and enormous stock market gains, a financial crisis was brewing. The event nearly brought down the U.S. banking system. J.P. Morgan, a financier, intervened and emulated the actions of modern central banks. He met with the nation’s top bankers, facilitated emergency loans to financial institutions, and backed stockbrokers. The damage had been done as the United States fell into a year-long recession, marked by high unemployment and widespread bank failures. The Federal Reserve Board of Governors seal in Washington on Oct. 29, 2025. Madalina Kilroy/The Epoch Times Washington realized that it could not rely on private bailouts to prevent sharp downturns. Sen. Nelson Aldrich (R-R.I.) is widely regarded as one of the chief architects of the modern Federal Reserve System. In 1910, Aldrich hosted the famous Jekyll Island meetings, a gathering of U.S. officials and bankers, to discuss the blueprint of a new central bank. While the initial draft laid the foundation for the institution, the official Federal Reserve Act was drafted by President Woodrow Wilson, Rep. Carter Glass (D-Va.), and H. Parker Willis, an economist on the House Banking Committee. The new system was a public-private hybrid, with the federal government firmly in charge, and bankers running the regional reserve banks. “It was Wilson’s great compromise,” wrote Greider, “creating a hybrid institution that mixed private and public control, an approach without precedent at the time.” The legislation triggered a contentious political debate over the extent of its independence from the Treasury and the degree of authority delegated to policymakers over currency issuance. Days before Christmas, the bill cleared both chambers and was signed into law by Wilson on Dec. 23. “Wilson’s conviction that he had struck the right moderate balance seemed confirmed, however, by the reactions to his legislation,” Greider noted. “It was attacked by both extremes—the ‘radicals’ from the Populist states and the bankers in Wall Street and elsewhere.” Since its inception in 1913, the modern Federal Reserve has undergone numerous changes and has gained greater power. The New Deal, for instance, allowed the Fed to become the lender of last resort as Washington learned the central bank could not prevent bank failures. In 1951, the Treasury-Fed Accord restored central bank independence after the Federal Reserve had been forced to keep interest rates artificially low throughout the Second World War. Congress then enacted the Federal Reserve Reform Act in 1977, establishing the dual mandate of promoting maximum employment and maintaining price stability. 2026 and Beyond Over the past 50 years, the Fed has undergone modest changes, including the issuance of forward guidance and the disclosure of emergency lending facilities. But while each new regime has nibbled around the edges, Warsh has suggested he could effect substantial reforms at the central bank. “Until there’s regime change at the Fed and new people running the Fed, a new operating framework, they’re stuck with their old mistakes,” Warsh told Fox Business Network in October 2025. “Bygones aren’t just bygones.” Tyler Durden Wed, 02/18/2026 - 16:20

Thousands of Flights Canceled as Winter Storm Hits US
EnvironmentThe Guardian23d ago

Thousands of Flights Canceled as Winter Storm Hits US

A late winter storm is causing widespread disruption across the United States, leading to thousands of flight cancellations as it dumps snow in the Midwest and threatens the East Coast with high winds and potential long-track tornadoes.

Severe Winter Storm Hits US East Coast, Disrupting Travel
Environmentwsjtagesschausvenska-dagbladet+7telexdie-pressemorgunbladidYahoola-vanguardiadagbladetiefimerida1mo ago10 sources

Severe Winter Storm Hits US East Coast, Disrupting Travel

A powerful winter storm has impacted the northeastern United States, leading to widespread travel disruptions, flight cancellations, and states of alert in areas like New York and New Jersey.

PennDOT responds to snowstorm with bans, plows
Worldwsjyle-uutisetDW+3lsm-lvYahooKorea Herald1mo ago6 sources

PennDOT responds to snowstorm with bans, plows

NEW YORK (AP) — New York City and New Jersey announced travel bans, airlines canceled thousands of flights and even Broadway shows were canceled Sunday evening as a fierce winter storm bore down on the Northeastern US, prompting blizzard warnings from Maryland to Massachusetts. Snow began falling in New Jersey and New York as the storm moved northward. The National Weather Service said 30 to 60 centimeters of snow was possible in many areas, along with heavy winds. Visibility in many areas was e

Humpback Whale in Wismar Bay Swims Again as Rescue Efforts Continue
Worldfaztvn24die-presse+2luxemburger-wort20-minuten9d ago5 sources

Humpback Whale in Wismar Bay Swims Again as Rescue Efforts Continue

The humpback whale that repeatedly stranded on Germany's east coast in Wismar Bay has reportedly started swimming again, though its direction remains unclear, as experts continue their rescue attempts and monitor its deteriorating health.

Chaotic Weather Across the United States
Environmentdelfi-lt22d ago

Chaotic Weather Across the United States

The United States is experiencing chaotic weather conditions, including heatwaves on the West Coast, floods in Hawaii, heavy snowfall in northern states, and storm warnings on the East Coast, affecting 200 million people.

North Korea Fires Over 10 Ballistic Missiles into Sea
Worldindex-hrn1-serbiadanas+2n1-bihvijesti-me25d ago5 sources

North Korea Fires Over 10 Ballistic Missiles into Sea

North Korea fired more than 10 ballistic missiles into the sea off its east coast from an area near Pyongyang, according to South Korean military reports. This marks a significant military action by Pyongyang.

Oracle billionaire Larry Ellison's real estate portfolio includes properties in Florida, Japan, Hawaii, and more
BusinessBusiness Insider1mo ago

Oracle billionaire Larry Ellison's real estate portfolio includes properties in Florida, Japan, Hawaii, and more

Palm Beach, Florida. Yelena Rodriguez Mena/Getty Images Larry Ellison, Oracle's cofounder and former CEO, has an extensive real estate portfolio. His holdings include multiple homes in California, as well as 98% of the Hawaiian island of Lanai. Here are all the real estate holdings belonging to Ellison, the sixth-richest person in the world. Larry Ellison, one of the richest people in the world, is joining billionaires like Jeff Bezos in trading the West Coast for the East Coast. Oracle cof...

Weather Forecast: Slow Winds Today, Stronger Winds Tomorrow in East Iceland
Worldruv1mo ago

Weather Forecast: Slow Winds Today, Stronger Winds Tomorrow in East Iceland

North winds are expected across Iceland today, with light to moderate breezes along the south and east coasts, otherwise calm. Snow showers are possible in the east and light flurries in the north, with temperatures between 0 and 10 degrees Celsius. Winds will strengthen significantly in East Iceland tomorrow.

Severe Winter Storm Hits US East Coast, Disrupting Travel and Schools
WorldThe IndependentYahoo20-minuten+2newsbeastTehran Times1mo ago5 sources

Severe Winter Storm Hits US East Coast, Disrupting Travel and Schools

A powerful winter storm with heavy snowfall is impacting extensive areas of the United States' East Coast, paralyzing cities like New York and Boston, leading to school closures, thousands of flight cancellations, and travel bans.

High-speed rail link between Sydney and Newcastle could be ‘shovel-ready’ in two years, Albanese government says
PoliticsThe Guardian1mo ago

High-speed rail link between Sydney and Newcastle could be ‘shovel-ready’ in two years, Albanese government says

Transport minister Catherine King will pledge $230m for planning work for the first phase of a bullet train on Australia’s east coast Get our breaking news email, free app or daily news podcast Long-mooted plans for high-speed rail could be “shovel-ready” within two years, according to the federal government, which will on Tuesday announce another $230m for further planning work for fast trains between Sydney and Newcastle, as part of the first phase of an eventual east coast bullet train. ...

Travel ban introduced
Worlddagbladet1mo ago

Travel ban introduced

American meteorologists warn of a blizzard risk in New York City and the US East Coast in the coming 24 hours. A state of emergency has been declared in New York.

Nevada sues Kalshi as federal regulators say back off
BusinessBusiness Insider1mo ago

Nevada sues Kalshi as federal regulators say back off

Kalshi's website Thomas Fuller/NurPhoto via Getty Images Nevada regulators sued Kalshi, saying its markets are actually illegal sports gambling. The suit was filed just as the Trump administration sided with prediction markets. Other states have also sued Kalshi, and many legal observers expect the Supreme Court to weigh in. Nevada gambling regulators sued the prediction markets company Kalshi on Tuesday, saying the platform's rapid growth forced their hand. The Nevada Gaming Control Board and the state attorney general sued in Carson City District Court shortly after a federal appeals court rejected a request by Kalshi to stop the state from taking action. The state is seeking an order to stop Kalshi, the country's largest prediction market, from operating what it sees as an unlicensed sports betting operation. "Kalshi has continued to dramatically expand its business, rather than attempting to maintain any kind of status quo," Nevada authorities said in a letter earlier this month. The regulators emphasized that Kalshi has grown rapidly, doing 27 times as much business on Super Bowl Sunday this year compared to the year before. Meanwhile, regulated Nevada gambling operations saw their business shrink, the state said. A Kalshi spokesperson declined to comment on Tuesday afternoon, but the company swiftly asked a federal court to take over the new state case. They argued that only federal law applies to prediction markets, and that the new state enforcement action turns on the same questions that federal courts are already considering. Kalshi has said that its markets are "event contracts," a financial instrument regulated by the Commodities Futures Trading Commission. The CFTC on Tuesday sided with another events-contracts company that is fighting with Nevada regulators, and its chairman, Michael Selig, filmed a video statement defending the new platforms. "Today, the CFTC is taking an important step to ensure that these markets have a place here in America," Selig said. "To those who seek to challenge our authority in this space, let me be clear: we will see you in court." Economists and political scientists have long been fascinated by prediction markets as a way to channel the so-called wisdom of the crowds. They were generally a niche activity until the 2024 US presidential election, when people wagered millions of dollars on sites like Polymarket. Since the election, sports and cryptocurrency speculation have become the dominant markets. Today, more than 90% of the money that flows through Kalshi's platform is staked on sports-related events, and the growth of platforms like Kalshi has spurred traditional sportsbooks like FanDuel and DraftKings to create their prediction markets to take advantage of the light-touch regulation and lower taxes they offer. Legal battles are pending on the East Coast as well, with regulators in Maryland and New Jersey having clashed with prediction markets. Attorneys and other industry commentators have said they expect the Supreme Court to eventually weigh in on the legality of sports contracts on prediction markets. Read the original article on Business Insider