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SF headquartered First Republic Bank to slash workforce

Published Sun, 16 Feb 2025 16:20:53 GMT

(KRON) -- First Republic Bank, headquartered in San Francisco, announced on Monday that it will be laying off a significant chunk of employees after the bank faced significant drops in revenue over the past year, according to a press release. MacBooks stolen in smash and grab at San Leandro In-N-Out The bank is making plans to reduce expenses, including reducing its workforce by 20-25% in the second quarter of 2023. The press release states that executive officers at the bank will also be facing a compensation cut, and the bank plans to condense office spaces and reduce "non-essential" projects.KRON On is streaming now.embed-container { position: relative; padding-bottom: 56.25%; height: 0; overflow: hidden; max-width: 100%; } .embed-container iframe, .embed-container object, .embed-container embed { position: absolute; top: 0; left: 0; width: 100%; height: 100%; }The company says recent uncertainties in the banking industry resulted in a large outflow of cash. The closure of Sil...

MLB commissioner: 'Sorry' for Oakland fans; A's can compete in Vegas

Published Sun, 16 Feb 2025 16:20:53 GMT

NEW YORK (AP) — Baseball Commissioner Rob Manfred says he feels “sorry for the fans in Oakland” about the Athletics’ plans to relocate to Las Vegas but denies claims by Oakland’s mayor that the franchise used negotiations with the city as leverage.Manfred discussed the plans Monday during a meeting with the Associated Press Sports Editors, adding that he believes the last-place A's can field a more competitive team in Nevada. Source: De’Aaron Fox has fractured finger, could miss Game 5 against the Warriors The franchise announced last week it has signed a binding agreement to purchase land for a new retractable roof ballpark close to the Las Vegas Strip after being unable to construct a new venue in the Bay Area. The A's had been trying to escape the run-down Oakland Coliseum for years, exploring options in Fremont and San Jose before shifting focus to Oakland's waterfront.After the A's announced the land purchase, Oakland Mayor Sheng Thao said in a statem...

The "Pro-Israel" Smear Campaign to Cancel a Global Charity

Published Sun, 16 Feb 2025 16:20:53 GMT

A nonprofit think tank that serves as a fiscal sponsor for hundreds of progressive causes around the world was recently severed from access to vital financial services due to its support of a French NGO working on Palestinian issues.In February, the Alliance for Global Justice, or AFGJ, issued a statement announcing that the company that handled its credit card transactions had blocked its ability to process donations. The move came after a “pro-Israel” group accused one of the organizations sponsored by AFGIJ, the Samidoun Palestinian Prisoner Solidarity Network, of serving as something of a front for a leftist Palestinian militant group that is designated by the State Department as a terrorist organization.“Groups like Alliance for Global Justice provide terror groups with the funding that is critical to their operations and the fact that they do so with U.S. taxpayer subsidies,” an attorney for Zachor Legal Institute told the Washington Examiner. The article also noted that...

P.A.M. Transportation: Q1 Earnings Snapshot

Published Sun, 16 Feb 2025 16:20:53 GMT

TONTITOWN, Ark. (AP) — TONTITOWN, Ark. (AP) — P.A.M. Transportation Services Inc. (PTSI) on Monday reported profit of $5.2 million in its first quarter.On a per-share basis, the Tontitown, Arkansas-based company said it had profit of 23 cents. Earnings, adjusted for non-recurring costs, came to 57 cents per share.The trucking company posted revenue of $221.7 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 PTSI at https://www.zacks.com/ap/PTSISource

El Gobierno de Honduras dice que no busca imitar las medidas de Bukele en El Salvador para controlar sus centros penales

Published Sun, 16 Feb 2025 16:20:53 GMT

(CNN Español) — El Gobierno de Honduras no intenta replicar las medidas carcelarias de países como El Salvador, pero sí “poner orden en los centros penales”, aseguró a CNN la viceministra de Seguridad, Julissa Villanueva.Villanueva fue designada por la presidenta Xiomara Castro para restablecer el orden en las prisiones tras los enfrentamientos ocurridos entre reclusos de varios centros penitenciarios durante las últimas semanas que han dejado un preso muerto y casi 30 heridos. El 9 de abril, y ante los constantes motines, Castro anunció la intervención y “mano dura” para frenar la escalada de violencia entre los reos.“Respetamos lo que el presidente de El Salvador Nayib Bukele hace, pero el modelo que ya comenzó a implementarse en Honduras está basado en lecciones positivas de cárceles de EE.UU., México y aún de Centroamérica que van dirigidas al personal penitenciario y no precisamente a los privados de libertad”, explicó la funcionaria.Al menos 11 presos heridos deja enfren...

Independent Bank Group: Q1 Earnings Snapshot

Published Sun, 16 Feb 2025 16:20:53 GMT

MCKINNEY, Texas (AP) — MCKINNEY, Texas (AP) — Independent Bank Group Inc. (IBTX) on Monday reported a loss of $37.5 million in its first quarter.The McKinney, Texas-based bank said it had a loss of 91 cents per share. Earnings, adjusted for non-recurring costs, came to $1.07 per share.The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.10 per share.The bank holding company posted revenue of $213.9 million in the period. Its revenue net of interest expense was $140.7 million, which also missed Street forecasts. Four analysts surveyed by Zacks expected $149.6 million._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IBTX at https://www.zacks.com/ap/IBTXSource

ESPN announces layoffs as part of cost cutting by Disney

Published Sun, 16 Feb 2025 16:20:53 GMT

ESPN began informing employees of layoffs Monday, which are job cuts that are taking place throughout its corporate owner, the Walt Disney Company.Disney CEO Bob Iger announced in February that the company would reduce 7,000 jobs either through not filling positions or layoffs.ESPN President Jimmy Pitaro said in a company memo sent to employees that those affected will hear from their supervisor and someone from human relations this week.“As we advance as a core segment of Disney, with operational control and financial responsibility, we must further identify ways to be efficient and nimble,” Pitaro said in the memo. “We will continue to focus our workforce on initiatives that are most closely aligned with our critical priorities and emphasize decision-making and responsibility deeper into the organization.”ESPN was not part of the first phase of Disney reductions last month. Besides this week’s layoffs, another round of job cuts will take place by the start of summer. Both ph...

19 Kenyan students arrive from Sudan aboard military plane

Published Sun, 16 Feb 2025 16:20:53 GMT

NAIROBI, Kenya (AP) — The first group of Kenyan evacuees from Sudan landed in the country’s main airport on Monday.Thirty-nine students — 19 Kenyans along with 19 Somalis and one Saudi Arabian national — alighted from a Kenya Airforce aircraft that landed on Monday night.The students traveled by road to South Sudan where they boarded the military aircraft.The group was received by Defense Minister Aden Duale who said they were all students at an international university in Sudan and that more Kenyans were scheduled to be airlifted home.More evacuations are underway, with the foreign ministry stating three evacuation programs were active.Foreign Affairs Minister Alfred Mutua thanked countries that allowed Kenyans fleeing from Sudan to cross the border and “granted permission for Kenyan planes to overfly their airspace.”A permanent secretary in the ministry, Roseline Njogu, shared photos of students who are part of a group of 29 currently in Gondor, Ethiopia after fleeing Sudan.She sa...

Cadence: Q1 Earnings Snapshot

Published Sun, 16 Feb 2025 16:20:53 GMT

TUPELO, Miss. (AP) — TUPELO, Miss. (AP) — Cadence Bank (CADE) on Monday reported first-quarter net income of $76.6 million.The bank, based in Tupelo, Mississippi, said it had earnings of 40 cents per share. Earnings, adjusted for one-time gains and costs, were 68 cents per share.The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 66 cents per share.The bank posted revenue of $600.2 million in the period. Its revenue net of interest expense was $428.3 million, falling short of Street forecasts. Six analysts surveyed by Zacks expected $456.1 million.Cadence shares have fallen 17% since the beginning of the year. In the final minutes of trading on Monday, shares hit $20.58, a decrease of 22% in the last 12 months._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CADE at https://www.zacks...

SmarFinancial: Q1 Earnings Snapshot

Published Sun, 16 Feb 2025 16:20:53 GMT

KNOXVILLE, Tenn. (AP) — KNOXVILLE, Tenn. (AP) — SmartFinancial Inc. (SMBK) on Monday reported first-quarter profit of $11.5 million.The Knoxville, Tennessee-based bank said it had earnings of 68 cents per share.The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 60 cents per share.The bank holding company posted revenue of $60.1 million in the period. Its revenue net of interest expense was $42.9 million, which missed Street forecasts. Three analysts surveyed by Zacks expected $43.1 million._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SMBK at https://www.zacks.com/ap/SMBKSource