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Manulife signs reinsurance deal with Global Atlantic, plans to buy back shares

Published Wed, 26 Feb 2025 21:40:29 GMT

TORONTO — Manulife Financial Corp. has signed a reinsurance deal with Global Atlantic that it says will free up $1.2 billion in capital that it plans to use to buy back shares.The Toronto-based insurer says it is reinsuring $13 billion of reserves to Global Atlantic and its partners, including $6 billion in long-term care reserves. It is Manulife’s third deal with Global Atlantic.Manulife says the deal is expected to release $1.2 billion of capital that it plans return to shareholders via share buybacks. Manulife chief executive Roy Gori called the agreement a major milestone for the company as it reshapes its portfolio, reduces risk and delivers value to shareholders.Manulife says it has received approval from the Office of the Superintendent of Financial Institutions to buy back up to about 2.8 per cent of its outstanding common shares starting in February.The share repurchase plan remains subject to the approval of the Toronto Stock Exchange.This report by The Canadian Pres...

Lupita Nyong’o will head the jury at the annual Berlin film festival in February

Published Wed, 26 Feb 2025 21:40:29 GMT

BERLIN (AP) — Oscar-winning actress Lupita Nyong’o will head the jury at the Berlin International Film Festival in February, organizers announced Monday.The 2024 “Berlinale,” the first of the year’s major European film festivals, will run from Feb. 15-25. It will be the last edition under the current leadership duo of executive director Mariette Rissenbeek and artistic director Carlo Chatrian.Nyong’o “embodies what we like in cinema: versatility in embracing different projects, addressing different audiences, and consistency to one idea that is quite recognizable in her characters, as diverse as they may look,” the directors said in a statement. Nyong’o said she was “deeply honored” to serve as president of the international jury and looks forward to “celebrating and recognizing the outstanding work of filmmakers from around the world.” The Mexican-born daughter of Kenyan parents has directed and produced as well as acting, and is the author of a children’s b...

In latest crackdown on violence, Greece bans fans at all top-flight matches for two months

Published Wed, 26 Feb 2025 21:40:29 GMT

ATHENS, Greece (AP) — All top-flight soccer matches in Greece will be played without fans in the stadiums for the next two months, in the latest crackdown on supporter violence following a sport-related riot last week that left a police officer with life-threatening injuries.The government said Monday that it would introduce emergency legislation to make the ban on supporters effective immediately. It will end on Feb. 12 with a possible extension to follow. This past weekend’s professional soccer matches were postponed following a series of violent incidents at matches and last week’s riot that occurred outside a volleyball game believed to be led by organized soccer fan groups. The 31-year-old police officer who was injured in the clashes remains hospitalized in a coma after being hit in the left leg by a flare, causing extensive bleeding and cardiac arrest.“This murderous attack against a policeman is not the first incident of extreme fan violence in recent years. Crim...

Iraq scrambles to contain fighting between US troops and Iran-backed groups, fearing Gaza spillover

Published Wed, 26 Feb 2025 21:40:29 GMT

BAGHDAD (AP) — Dozens of attacks on U.S. military facilities by Iran-backed factions in Iraq over the past two months have forced the government in Baghdad to perform a balancing act that is becoming more difficult by the day.A rocket attack on the sprawling U.S. Embassy in Baghdad on Friday marked a further escalation as Iraqi officials scramble to contain the ripple effects of the Israel-Hamas war.Iran holds considerable sway in Iraq and a coalition of Iran-backed groups brought Iraqi Prime Minister Mohammed Shia al-Sudani to power in October 2022. But at the same time, there are some 2,000 U.S. forces stationed in Iraq under an agreement with Baghdad, mainly to counter the extremist Islamic State group. Baghdad also relies heavily on Washington’s sanctions waivers to buy electricity from Iran, and since the U.S. invasion of Iraq in 2003, Iraq’s foreign currency reserves have been housed at the U.S. Federal Reserve, giving the Americans significant control over Iraq’s supply of do...

Liz Weston: Investing for retirement – Why you might want to reconsider that 403(b)

Published Wed, 26 Feb 2025 21:40:29 GMT

Like many other educators, high school science teacher Robert Curtiss of Dearborn, Michigan, thought he was doing the right thing by investing in his school district’s 403(b) retirement plan. Then federal regulators charged the company handling Curtiss’ investments with fraud.In July 2022, the Securities and Exchange Commission said Equitable Financial Life Insurance Co. had misled investors — mostly public school employees — about what their investments cost. Equitable often issued quarterly statements showing $0 in fees, when in reality the expenses were much higher, according to the SEC. Equitable agreed to pay a $50 million civil penalty to harmed investors.After hearing about the fine, Curtiss learned that his retirement investments were costing him two to three times what a typical 401(k) investor would pay. Getting his money out would cost even more: the investments, known as variable annuities, had surrender charges of 5% to 6%.“I felt so frustrated,” Curtiss says. “If I wou...

Carpentersville teen missing for 1-week; family offering $1,000 reward

Published Wed, 26 Feb 2025 21:40:29 GMT

CARPENTERSVILLE, Ill — The search intensifies for a missing teenager from Carpentersville one-week after she disappeared.Brissa Romero, 17, has been missing since Monday of last week. The teen was headed to a bowling alley in Vernon Hills for a holiday party, but never made it back home.Police describe her as being five-feet tall and weighing around 115 pounds with brown hair and brown eyes.Brissa's 2008 gray Nissan Rogue was last seen near the corner of Route 45 and Milwaukee Avenue in Vernon Hills.Carpenterville police are hoping that a black coyote sticker, located near her vehicle's license plate, will help locate her SUV.The teen's family is offering $1,000 reward for information that can lead to her return home.

Monday Forecast: Temps in upper 30s with mostly cloudy conditions

Published Wed, 26 Feb 2025 21:40:29 GMT

CHICAGO — Decreasing clouds and seasonal temps. Winds: WSW 5-10 mph. High: 37. Interactive Radar: Track showers and storms here Mostly clear tonight, a bit breezy with steady overnight temps. Winds: SSW 5-15. Low 30.Tuesday Forecast: Partly to mostly sunny. Winds: W 5-10 mph. High near 40.Extended outlook calls for temp to get into the mid 40s with lots of sunshine Wed/Thu. Increasing clouds on Friday with highs in the mid to upper 40s. A chance of showers late Friday into Saturday with temps this coming weekend about ten degrees above normal. Full forecast details and more at the WGN Weather Center blog

18 companies cut ties with Sean Combs' business venture in wake of sexual assault allegations

Published Wed, 26 Feb 2025 21:40:29 GMT

(The Hill) -- Eighteen companies shared that they have cut ties with a business venture created by Hip Hop mogul Sean “Diddy” Combs amid the slew of sexual assault allegations against the music legend. The companies confirmed with Rolling Stone Magazine on Sunday that they severed business relationships with Combs’ recently launched platform Empower Global. Empower Global, founded by Combs in 2021, is an immersive e-commerce, digital marketplace offering products from Black-owned businesses around the world. The platform is said to “elevate the Black economy by creating opportunities for Black entrepreneurs to build and scale successful businesses” for consumers. Luxury bag, eyewear, and apparel company House of Takura founder Annette Njau told the magazine that she cut ties with Empower Global after learning of Casandra Ventura’s – better known as R&B singer Cassie – lawsuit against Combs. “We take the allegations against Mr. Combs very seriously and find su...

Are we in a 'silent depression'? TikTokers claim 2023 economy is worse than Great Depression

Published Wed, 26 Feb 2025 21:40:29 GMT

(WGN Radio) – Inflation is easing, unemployment is relatively low, and the stock market looks strong, economics experts say. So why does it still feel so bad?A host of TikTokers have coined a name for it: "silent depression." They say the economy is bad – just as bad as it was during the Great Depression – but no one is acknowledging it. One viral video compares 1930 prices with today's, claiming the average home back then cost $3,900, a car was $600 and rent was $18 a month. Meanwhile, the average salary was $1,300, the TikToker says. Are you owed money from the $3 million Credit Karma settlement? Today, those prices are all obviously much, much higher: $436,000 for a house, $48,000 for a new car, and about $2,000 a month for rent. Meanwhile, the average person is making $56,000, he says. (The Bureau of Labor Statistics puts that figure slightly higher at about $58,000 for someone working full time. The U.S. Census Bureau put the median household income last year at ar...

Dean’s A-List Interviews: Olivia Coleman, Keegan-Michael Key on 'Wonka'

Published Wed, 26 Feb 2025 21:40:29 GMT

WGN Entertainment Reporter Dean Richards talks to actors Olivia Coleman and Keegan-Michael Key on 'Wonka.'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!