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Supporting innovation is key to unlocking inclusion for all consumers

Published Fri, 21 Feb 2025 15:25:15 GMT

More than 13 million adult EU citizens still lack access to formal financial services[1]. In some parts of the EU, the percentage of those that remain unbanked is over 30 percent[2], and the pandemic has only further accelerated these inequalities, as well as worsening digital poverty, and exclusion. Additionally, worldwide, women represent over half — 56 percent — of the unbanked adult population[3].Mark Barnett, president, Mastercard Europe | via MastercardThese indicators underscore the need to bring innovative solutions to the financial needs of a significant portion of individuals, and even more so toward women and underserved groups  across Europe like those on low incomes.Not only is there a moral case for ensuring that people are well equipped for — and thrive in — the digital era, individuals and businesses that have the right access and skills to operate in Europe’s digital economy contribute a significant economic and productivity boost.According to Eurostat, 43 perc...

MBTA announces new speed restrictions on Red, Orange, Blue and Green Lines

Published Fri, 21 Feb 2025 15:25:15 GMT

The MBTA announced new speed restrictions Thursday on its Red, Orange, Blue and Green Line systems effective immediately. The restrictions will cap train speeds between 10 and 25 miles-per-hour due to the findings of a recent site visit by the Department of Public Utilities on the Red Line between Ashmont and Savin Hill stations, according to the TThe MBTA has warned riders the speed restrictions will lead to longer travel times. “The MBTA apologizes in advance for these inconveniences and remains committed to operating the transit system in the safest manner possible,” the T said in a statement. New speed restrictions follow shortly after the T announced a new slow zone report last month detailing existing restrictions.The MBTA did not provide further information on the findings that prompted its new speed restrictions on Thursday night. Officials are planning to hold a press conference at 10 a.m. on Friday.This is a developing story; stay with 7NEWS on-air...

Nets starters well rested for Friday’s back to back in Minnesota

Published Fri, 21 Feb 2025 15:25:15 GMT

It was a night off for the starters.Nets head coach Jacque Vaughn rested starting point guard Spencer Dinwiddie and sat Nic Claxton (right thumb sprain/left Achilles tendinopathy), Cam Johnson (right knee soreness) and Royce O’Neale (left knee soreness) all due to injury in Brooklyn’s 118-113 loss to the Milwaukee Bucks on Thursday.Ben Simmons (left knee/back soreness) missed his eighth straight game since the All-Star break, and Vaughn load-managed forward Mikal Bridges, who didn’t see the floor after playing the entire opening period.It was a tactical decision by Vaughn — even though he said he merely rode a hot-shooting bench that gunned the Nets back into the game from down 25.The Nets were already heavy underdogs against the Bucks — who own the NBA’s best record — even without Giannis Antetokounmpo, the former league MVP who sat Thursday night because of “right hand soreness.”If Vaughn played his starters and rode them all g...

MIAA statewide scores and highlights from Thursday’s action

Published Fri, 21 Feb 2025 15:25:15 GMT

Boys hockeyRyan Davis and Braden Knapp scored, while Griffin Starr registered the shutout as No. 6 Nantucket (15-6) advanced to the Div. 4 state semifinals with a 2-0 boys hockey win over No. 19 Amesbury. … Colin McIver scored twice and dished an assist, pacing second-seeded Sandwich (18-4-1) to a 4-1 win over No. 7 Dennis-Yarmouth.FootballBoston Herald All-Scholastics Carson Browne and Mikey Nabbout from Division 1 state champion St. John’s Prep headline a group selected as the 2023 recipients of the prestigious National Football Foundation’s Eastern Massachusetts Chapter Grinold Scholar-Athlete award. They will be honored at a dinner on May 21 at the Boston Marriott Newton.The 33 seniors were selected on the basis of their performance on the field, in the classroom and in the community. Former Boston Herald/Globe High School Sports Editor Bob Holmes will introduce each of the recipients.In addition to Browne and Nabbout, the rest of the list includes William Asto...

Canton girls avenge last season’s loss to Algonquin

Published Fri, 21 Feb 2025 15:25:15 GMT

CANTON – First-year Canton girls hockey coach Nikki Petrich didn’t have to imagine how badly her team wanted revenge over Algonquin for beating them in the Div. 2 state final at TD Garden last year. Leading up to a shot at redemption in the state quarterfinal round Thursday night, senior captain Ellie Bohane was quite vocal about its meaning.Mission accomplished.Carolyn Durand stood firm in net for a 21-save shutout as her and the Bulldogs defense limited one of the best goal-scorers in the state as best as a team could, propelling fourth-seeded Canton to a 3-0 win over the No. 5 Titans in front of a packed Canton Ice House crowd. Freshmen Izzy Cusack and Christina Curran each tallied scores before Audrey Koen’s empty-netter, giving the Bulldogs (18-2-4) all the offense they’d need to reach the state semifinals for a fifth time over the last six state tournaments.They play top-seeded Archbishop Williams at 5:30 p.m. on Saturday at Gallo Arena for another shot at the state final.“Bei...

China’s Xi awarded 3rd term as president, extending rule

Published Fri, 21 Feb 2025 15:25:15 GMT

BEIJING (AP) — Chinese leader Xi Jinping was awarded a third five-year term as president Friday, putting him on track to stay in power for life at a time of severe economic challenges and rising tensions with the U.S. and others. The endorsement of Xi’s appointment by the ceremonial National People’s Congress was a foregone conclusion for a leader who has sidelined potential rivals and filled the top ranks of the ruling Communist Party with his supporters since taking power in 2012.The vote for Xi was 2,952 to 0 by the NPC, members of which are appointed by the ruling party.Xi, 69, had himself named to a third five-year term as party general secretary in October, breaking with a tradition under which Chinese leaders handed over power once a decade. A two-term limit on the figurehead presidency was deleted from the Chinese constitution earlier, prompting suggestions he might stay in power for life.No candidate lists were distributed, and Xi and those awarded other posts w...

What’s happening at Fukushima plant 12 years after meltdown?

Published Fri, 21 Feb 2025 15:25:15 GMT

OKUMA, Japan (AP) — Twelve years after the triple reactor meltdowns at the Fukushima Daiichi nuclear power plant, Japan is preparing to release a massive amount of treated radioactive wastewater into the sea. Japanese officials say the release is unavoidable and should start soon. Dealing with the wastewater is less of a challenge than the daunting task of decommissioning the plant. That process has barely progressed, and the removal of melted nuclear fuel hasn’t even started.The Associated Press recently visited the plant. Here’s an update on what’s happening. ___HOW ARE WATER DISCHARGE PREPARATIONS PROCEEDING?During their visit, AP journalists saw 30 giant tanks for sampling and analyzing the water for safety checks. A concrete facility for diluting the water after it is treated and tested is in the final stages of construction. From there, the water will be released via an undersea tunnel.The plant’s operator, Tokyo Electric Power Company Holdings, aims to have the faciliti...

Earthquakes at 2 Alaska volcanoes could signal eruption

Published Fri, 21 Feb 2025 15:25:15 GMT

ANCHORAGE, Alaska (AP) — A second volcano in remote Alaska is experiencing elevated earthquake activity this week, signaling an increased potential for eruption, officials said.Earthquake activity near Takawangha Volcano increased over the past 48 hours and are continuing, Alaska Volcano Observatory officials said in a news release Thursday.That volcano is west of Anchorage in the western Aleutian islands and about 5 miles (8 kilometers) from Tanaga Volcano, which scientists said earlier this week had seen intensified earthquake activity. The Alaska Volcano Observatory raised the alert level to advisory status for Tanaga Volcano late Tuesday after the quakes became vigorous.The observatory on Thursday raised the alert level to watch status for Takawangha Volcano.Analysts at the observatory continue to monitor the situation closely. Up to several earthquakes per minute are occurring under Tanaga Island, where both volcanoes are located, the observatory said. The largest quake over th...

Asian stocks follow Wall St lower ahead of US jobs update

Published Fri, 21 Feb 2025 15:25:15 GMT

BEIJING (AP) — Asian stock markets followed Wall Street lower Friday ahead of an update on United States employment amid worries about possible further interest rate hikes.Shanghai, Tokyo, Hong Kong and Sydney declined. Oil prices edged lower.Wall Street’s benchmark S&P 500 index fell Thursday by its biggest one-day margin this year after Federal Reserve Chair Jerome Powell warned rates might be raised faster than expected to cool stubbornly high inflation.Traders looked ahead to U.S. government hiring data Friday following other indicators that show the job market has stayed strong despite repeated interest rate hikes. That’s good for workers, but Fed officials worry rising wages might fuel inflation, which might lead to more rate hikes to cool business activity and hiring.Fed officials are “clearly messaging that rates will move higher,” said Rubeela Farooqi of High Frequency Economics in a report.The Shanghai Composite Index fell 0.9% to 3,246.16 and the Nikkei 22...

Chicago mayoral candidates meet for second forum before runoff election

Published Fri, 21 Feb 2025 15:25:15 GMT

CHICAGO — Chicago mayoral candidates Paul Vallas and Brandon Johnson went head-to-head in their second forum since February's election.The forum took place at the DuSable Black History Museum and Education Center.Vallas and Johnson were asked about their plans to ensure residents can acquire home ownership access. Vallas said he would consider implementing tax increment financing. "You could issue bonds and the interest that will be freed up when the TIFS retire and you could generate billions of dollars that you can invest in affordable housing," Vallas said. Johnson said he's adamant about not increasing property taxes. "I'm going to make sure that we protect homeownership by not only creating a path to home ownership, but let's make sure that people don't lose their homes because they can't afford them because property taxes continue to be the only way the city can balance its budget," Johnson said.Both candidates committed to making Chicago a safer city, including on public tran...