Author: chicagoinquirer

by Mathew Lee WASHINGTON  — Chinese President Xi Jinping’s plans to meet with Russian President Vladimir Putin in Moscow next week highlighted China’s aspirations for a greater role on the world stage. But they also revealed the perils of global diplomacy: Hours after Friday’s announcement of the trip, an international arrest warrant was issued for Putin on war crimes charges, taking at least some wind out of the sails of China’s big reveal. The flurry of developments — which followed China’s brokering of an agreement between Saudi Arabia and Iran to resume diplomatic relations and its release of what it…

by Kevin Freking WASHINGTON — Bills were filed, hearings were planned and blame was cast as Congress reacted this past week to the abrupt failure of two banks. A look at what lawmakers are saying and planning as the fallout continues from the collapse of Silicon Valley Bank and Signature Bank. QUICK LEGISLATIVE FIXES UNLIKELY While President Joe Biden called Monday on Congress to strengthen the rules for banks to prevent future failures, lawmakers are divided on whether any legislation is needed. Some congressional leaders are skeptical that a closely divided Congress will act at all. “There’s people who are…

by John Daniszewski BAGHDAD  — On the banks of the Tigris River one recent evening, young Iraqi men and women in jeans and sneakers danced with joyous abandon to a local rap star as a vermillion sun set behind them. It’s a world away from the terror that followed the U.S. invasion 20 years ago. Iraq ‘s capital today is throbbing with life and a sense of renewal, its residents enjoying a rare, peaceful interlude in a painful modern history. The wooden stalls of the city’s open-air book market are piled skyward with dusty paperbacks and crammed with shoppers of…

by Bill Barrow ATLANTA  — President Joe Biden says he plans to deliver the eulogy at the funeral of former President Jimmy Carter, who remains under hospice care at his home in south Georgia. Biden told donors at a California fundraiser Monday evening about his “recent” visit to see the 39th president, whom he has known since he was a young Delaware senator supporting Carter’s 1976 presidential campaign. “He asked me to do his eulogy,” Biden said, before stopping himself from saying more. “Excuse me, I shouldn’t say that.” Carter, who at 98 is the longest-lived U.S. president, announced Feb.…

by Halle Italie NEW YORK  — For her 100th book club pick, Oprah Winfrey relied on the same instincts she has drawn upon from the start: Does the story move her? Does she think about it for days after? In a work of fiction, do the characters seem real to her? “When I don’t move on, that’s always a sign to me there’s something powerful and moving,” Winfrey told The Associated Press in a recent telephone interview. On Tuesday, she announced that she had chosen Ann Napolitano’s “Hello Beautiful,” a modern-day homage to “Little Women” from the author of the…

by Janie Har SAN FRANCISCO  — A controversial draft reparations proposal that includes a $5 million lump-sum payment for each eligible Black person could make San Francisco the first major U.S. city to fund reparations, though it faces steep financial headwinds and blistering criticism from conservatives. Tuesday’s meeting of the San Francisco Board of Supervisors will include a presentation by San Francisco’s African American Reparations Advisory Committee, which released its draft report in December. The $5 million-per-person payment is among more than 100 recommendations ranging from offering grants to buy and maintain homes to exempting Black businesses from paying taxes.…

by Christopher Rugaber WASHINGTON  — U.S. consumer price increases eased slightly from January to February but still pointed to an elevated inflation rate that is posing a challenge for the Federal Reserve at a delicate moment for the financial system. The government said Tuesday that prices increased 0.4% last month, just below January’s 0.5% rise. Yet excluding volatile food and energy costs, so-called core prices rose 0.5% in February, slightly above January’s 0.4% gain. The Fed pays particular attention to the core measure as a gauge of underlying inflation pressures. Even though prices are rising much faster than the Fed…

by Michael Tarm and Alanna Durbin Richer The first federal capital case tried under President Joe Biden ended with a split among jurors that means the life of an Islamic extremist who killed eight people in a New York City will be spared. It came at a rare federal death penalty trial in a state without the death penalty. That Biden’s Justice Department continued to pursue the death penalty for Sayfullo Saipov, who used a truck to mow down pedestrians and cyclists on a popular bike path, was a surprise to many given Biden’s opposition to capital punishment and his…

by Claire Savage CHICAGO  — Illinois will become one of three states to require employers to offer paid time off for any reason after Gov. J.B. Pritzker signed a law on Monday that will take effect next year. Starting Jan. 1, Illinois employers must offer workers paid time off based on hours worked, with no need to explain the reason for their absence as long as they provide notice in accordance with reasonable employer standards. Just Maine and Nevada mandate earned paid time time off and allot employees the freedom to decide how to use it, but Illinois’ law is…

by Ken Sweet, Christopher Rugaber, Chris Megerian and Cathy Bussewitz NEW YORK — The U.S. government took extraordinary steps Sunday to stop a potential banking crisis after the historic failure of Silicon Valley Bank, assuring depositors at the failed financial institution that they would be able to access all of their money quickly. The announcement came amid fears that the factors that caused the Santa Clara, California-based bank to fail could spread, and only hours before trading began in Asia. Regulators had worked all weekend to try and come up with a buyer for the bank, which was the second…