WASHINGTON (AP) — The government's response to the failure of two large banks has already involved hundreds of billions of dollars. So will ordinary Americans end up paying for it, one way or another? And what will the price tag be?

It could be months before the answers are fully known. The Biden administration said&nbsp;<a href="https://apnews.com/article/biden-wall-street-silicon-valley-banks-trump-e6c27850d35d7f782fc6af9498925e7f">it will guarantee</a>&nbsp;uninsured deposits at both banks. The Federal Reserve announced&nbsp;<a href="https://apnews.com/article/silicon-valley-bank-uk-bailout-hsbc-sale-4d2da0e9c6f39c0fd8faf321a2b295cf">a new lending program</a>&nbsp;for all banks that need to borrow money to pay for withdrawals.

On Thursday, the Fed provided the first glimpse of the scale of the response: It said banks had borrowed&nbsp;<a href="https://apnews.com/article/banks-federal-reserve-silicon-valley-lending-fa9cea4bf6a24f881337630acf04ecfd">about $300 billion in emergency funding in the past week</a>, with nearly half that amount going to holding companies for the two failed banks to pay depositors. The Fed did not say how many other banks borrowed money and added that it expects the loans to be repaid.

The goal is to prevent a broadening panic in which customers rush to pull out so much money that even healthy banks buckle. That scenario would unsettle the entire financial system and risk derailing the economy.

Taxpayers will probably bear no direct cost for the failure of Silicon Valley Bank and Signature Bank. But other banks may have to help defray the cost of covering uninsured deposits. Over time, those banks could pass higher costs on to customers, forcing everyone to pay more for services.

Here are some questions and answers about&nbsp;<a href="https://apnews.com/article/banks-federal-reserve-silicon-valley-lending-rescue-a04875a164165b50e971ff4576bf4e27">the cost of the bank collapses</a>:

Most of the cost of&nbsp;<a href="https://apnews.com/article/silicon-valley-bank-uk-bailout-hsbc-sale-4d2da0e9c6f39c0fd8faf321a2b295cf">guaranteeing all deposits at both banks</a>&nbsp;will likely be covered by the proceeds the Federal Deposit Insurance Corp. receives from winding down the two banks — either by selling them to other financial institutions or by auctioning off their assets.

Any costs beyond that would be paid for out of the FDIC's deposit insurance fund, which is typically used in the event of a bank failure to reimburse depositors for up to $250,000 per account. The fund is maintained with fees paid by participating banks.

Both Silicon Valley and Signature banks had a strikingly high share of deposits above that amount: 94% of Silicon Valley’s deposits were uninsured, as were 90% of deposits at Signature. The average figure for large banks is about half that level.

If necessary, the insurance fund will be replenished by a “special assessment” on banks, the FDIC, Fed and Treasury said in a joint statement. Though the cost of that assessment could ultimately be borne by bank customers, it's not clear how much money would be involved.

Kathryn Judge, a law professor at Columbia University, said a bigger cost to consumers and the economy could stem from potentially major changes to the financial system that result from this episode.

If all customer deposits were considered guaranteed by the government, formally or informally, then regulations would need to be strengthened to prevent bank failures or lessen their costs when they do happen. Banks might have to pay permanently higher fees to the FDIC.

“It's going to require us to revisit the entire bank regulatory framework," Judge said. “That's far more significant than the modest costs that other banks will pay.”

President Joe Biden has insisted that no taxpayer money will be used to resolve the crisis. The White House is&nbsp;<a href="https://apnews.com/article/silicon-valley-bank-failure-deposits-fdic-8011ea377d8f9941032790ce1d704c5a">desperate to avoid</a>&nbsp;any perception that average Americans are “bailing out” the two banks in a way similar to the highly unpopular bailouts of the biggest financial firms during the 2008 financial crisis.

“No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer,” read the joint statement from the Treasury, Fed and FDIC.

Treasury Secretary Janet Yellen defended that view Thursday under&nbsp;<a href="https://apnews.com/article/yellen-banking-federal-reserve-silicon-valley-bank-dfd110d0b55d3284afaafc4677616b9e?utm_source=homepage&amp;utm_medium=TopNews&amp;utm_campaign=position_06">tough questioning from GOP lawmakers</a>.

The Fed's lending program to help banks pay depositors is backed by $25 billion of taxpayer funds that would cover any losses on the loans. But the Fed says it's unlikely that the money will be needed because the loans will be backed by Treasury bonds and other safe securities as collateral.

Even if taxpayers aren't directly on the hook, some economists say the banks' customers still stand to benefit from government support.

“Saying that the taxpayer won’t pay anything ignores the fact that providing insurance to somebody who didn’t pay for insurance is a gift,” said Anil Kashyap, an economics professor at the University of Chicago. “And that’s kind of what happened.”

Biden and other Democrats in Washington deny that their actions amount to a bailout of any kind.

“It's not a bailout as happened in 2008,” Sen. Richard Blumenthal, a Democrat from Connecticut, said this week while proposing legislation to toughen bank regulation. “It is, in effect, protection of depositors and a preventive measure to stop a run on other banks all around the country."

Biden has stressed that the banks' managers will be fired and their investors will not be protected. Both banks will cease to exist. In the 2008 crisis, some financial institutions that received government financial aid, like the insurer AIG, were rescued from near-certain bankruptcy.

Yet many economists say the depositors at Silicon Valley Bank, which included wealthy venture capitalists and tech startups, are still receiving government help.

“Why is it sensible capitalism for somebody to take a risk, and then be protected from that risk when that risk actually happens?” asked Raghuram Rajan, a finance professor at the University of Chicago and former head of India's central bank. “It’s probably good for the short term in the sense that you don’t have a widespread panic. ... But it is problematic for the system long term."

Many Republicans on Capitol Hill argue that smaller community banks and their customers will shoulder some of the cost.

Banks in rural Oklahoma "are about to pay a special fee to be able to bail out millionaires in San Francisco,” Sen. James Lankford, a Republican from Oklahoma, said on the Senate floor.

<figure>
 <img src="https://media.eaglewebservices.com/public/2023/3/1678567122405.png" alt="Silicon Vally Bank branch in Santa Clara, California -Google image" />
 <figcaption>Silicon Vally Bank branch in Santa Clara, California -Google image</figcaption>
 </figure>WASHINGTON (AP) — The government's response to the failure of two large banks has already involved hundreds of billions of dollars. So will ordinary Americans end up paying for it, one way or another? And what will the price tag be?It could be months before the answers are fully known. The Biden administration said&nbsp;<a href="https://apnews.com/article/biden-wall-street-silicon-valley-banks-trump-e6c27850d35d7f782fc6af9498925e7f">it will guarantee</a>&nbsp;uninsured deposits at both banks. The Federal Reserve announced&nbsp;<a href="https://apnews.com/article/silicon-valley-bank-uk-bailout-hsbc-sale-4d2da0e9c6f39c0fd8faf321a2b295cf">a new lending program</a>&nbsp;for all banks that need to borrow money to pay for withdrawals.On Thursday, the Fed provided the first glimpse of the scale of the response: It said banks had borrowed&nbsp;<a href="https://apnews.com/article/banks-federal-reserve-silicon-valley-lending-fa9cea4bf6a24f881337630acf04ecfd">about $300 billion in emergency funding in the past week</a>, with nearly half that amount going to holding companies for the two failed banks to pay depositors. The Fed did not say how many other banks borrowed money and added that it expects the loans to be repaid.The goal is to prevent a broadening panic in which customers rush to pull out so much money that even healthy banks buckle. That scenario would unsettle the entire financial system and risk derailing the economy.Taxpayers will probably bear no direct cost for the failure of Silicon Valley Bank and Signature Bank. But other banks may have to help defray the cost of covering uninsured deposits. Over time, those banks could pass higher costs on to customers, forcing everyone to pay more for services.Here are some questions and answers about&nbsp;<a href="https://apnews.com/article/banks-federal-reserve-silicon-valley-lending-rescue-a04875a164165b50e971ff4576bf4e27">the cost of the bank collapses</a>:HOW IS THE RESPONSE BEING PAID FOR?Most of the cost of&nbsp;<a href="https://apnews.com/article/silicon-valley-bank-uk-bailout-hsbc-sale-4d2da0e9c6f39c0fd8faf321a2b295cf">guaranteeing all deposits at both banks</a>&nbsp;will likely be covered by the proceeds the Federal Deposit Insurance Corp. receives from winding down the two banks — either by selling them to other financial institutions or by auctioning off their assets.Any costs beyond that would be paid for out of the FDIC's deposit insurance fund, which is typically used in the event of a bank failure to reimburse depositors for up to $250,000 per account. The fund is maintained with fees paid by participating banks.Both Silicon Valley and Signature banks had a strikingly high share of deposits above that amount: 94% of Silicon Valley’s deposits were uninsured, as were 90% of deposits at Signature. The average figure for large banks is about half that level.If necessary, the insurance fund will be replenished by a “special assessment” on banks, the FDIC, Fed and Treasury said in a joint statement. Though the cost of that assessment could ultimately be borne by bank customers, it's not clear how much money would be involved.Kathryn Judge, a law professor at Columbia University, said a bigger cost to consumers and the economy could stem from potentially major changes to the financial system that result from this episode.If all customer deposits were considered guaranteed by the government, formally or informally, then regulations would need to be strengthened to prevent bank failures or lessen their costs when they do happen. Banks might have to pay permanently higher fees to the FDIC.“It's going to require us to revisit the entire bank regulatory framework," Judge said. “That's far more significant than the modest costs that other banks will pay.”WILL TAXPAYERS BE ON THE HOOK?President Joe Biden has insisted that no taxpayer money will be used to resolve the crisis. The White House is&nbsp;<a href="https://apnews.com/article/silicon-valley-bank-failure-deposits-fdic-8011ea377d8f9941032790ce1d704c5a">desperate to avoid</a>&nbsp;any perception that average Americans are “bailing out” the two banks in a way similar to the highly unpopular bailouts of the biggest financial firms during the 2008 financial crisis.“No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer,” read the joint statement from the Treasury, Fed and FDIC.Treasury Secretary Janet Yellen defended that view Thursday under&nbsp;<a href="https://apnews.com/article/yellen-banking-federal-reserve-silicon-valley-bank-dfd110d0b55d3284afaafc4677616b9e?utm_source=homepage&amp;utm_medium=TopNews&amp;utm_campaign=position_06">tough questioning from GOP lawmakers</a>.The Fed's lending program to help banks pay depositors is backed by $25 billion of taxpayer funds that would cover any losses on the loans. But the Fed says it's unlikely that the money will be needed because the loans will be backed by Treasury bonds and other safe securities as collateral.Even if taxpayers aren't directly on the hook, some economists say the banks' customers still stand to benefit from government support.“Saying that the taxpayer won’t pay anything ignores the fact that providing insurance to somebody who didn’t pay for insurance is a gift,” said Anil Kashyap, an economics professor at the University of Chicago. “And that’s kind of what happened.”SO IS THIS A BAILOUT?Biden and other Democrats in Washington deny that their actions amount to a bailout of any kind.“It's not a bailout as happened in 2008,” Sen. Richard Blumenthal, a Democrat from Connecticut, said this week while proposing legislation to toughen bank regulation. “It is, in effect, protection of depositors and a preventive measure to stop a run on other banks all around the country."Biden has stressed that the banks' managers will be fired and their investors will not be protected. Both banks will cease to exist. In the 2008 crisis, some financial institutions that received government financial aid, like the insurer AIG, were rescued from near-certain bankruptcy.Yet many economists say the depositors at Silicon Valley Bank, which included wealthy venture capitalists and tech startups, are still receiving government help.“Why is it sensible capitalism for somebody to take a risk, and then be protected from that risk when that risk actually happens?” asked Raghuram Rajan, a finance professor at the University of Chicago and former head of India's central bank. “It’s probably good for the short term in the sense that you don’t have a widespread panic. ... But it is problematic for the system long term."Many Republicans on Capitol Hill argue that smaller community banks and their customers will shoulder some of the cost.Banks in rural Oklahoma "are about to pay a special fee to be able to bail out millionaires in San Francisco,” Sen. James Lankford, a Republican from Oklahoma, said on the Senate floor.___

Will Americans end up footing the bill for bank failures?

NEW YORK (AP) — Donald Trump said in a social media post that he expects to be arrested Tuesday as a&nbsp;<a href="https://apnews.com/article/trump-grand-jury-investigation-manhattan-e35836ebb6179e1c0ea28877590cfc1c">New York prosecutor is eyeing charges</a>&nbsp;in a case examining hush money paid to women who alleged sexual encounters with the former president.

Trump said in a post on his Truth Social network early Saturday that “illegal leaks” from the Manhattan district attorney's office indicate that “THE FAR &amp; AWAY LEADING REPUBLICAN CANDIDATE &amp; FORMER PRESIDENT OF THE UNITED STATES OF AMERICA, WILL BE ARRESTED ON TUESDAY OF NEXT WEEK.”

Messages left Saturday with the district attorney’s office were not immediately returned. Representatives for Trump did not immediately respond to calls for comment.

Trump did not provide any details on social media about how he knew about the expected arrest. In his postings, he repeated his lies that the 2020 presidential election he lost to Democrat Joe Biden was stolen and he urged his followers to “PROTEST, TAKE OUR NATION BACK!” That language evoked the message from the then-president that preceded the riot at the U.S. Capitol on Jan. 6, 2021.

Law enforcement officials in New York have been making security preparations for the possibility that Trump could be indicted.

There has been no public announcement of any time frame for the grand jury’s secret work in the case, including any potential vote on whether to indict the ex-president.

Trump's posting echoes one made last summer when he broke the news on Truth Socia that the FBI was searching his home as part of an investigation into the possible mishandling of classified documents.

The grand jury in Manhattan has been hearing from witnesses, including former Trump lawyer Michael Cohen, who says he orchestrated payments in 2016 to two women to silence them about sexual encounters they said they had with Trump a decade earlier.

Trump denies the encounters occurred, says he did nothing wrong and has cast the investigation as a “witch hunt” by a Democratic prosecutor bent on sabotaging the Republican’s 2024 presidential campaign.

Manhattan District Attorney Alvin Bragg’s office has apparently been examining whether any state laws were broken in connection with the payments or the way Trump’s company compensated Cohen for his work to keep the women’s allegations quiet.

Daniels and at least two former Trump aides — onetime political adviser Kellyanne Conway and former spokesperson Hope Hicks — are among witnesses who have met with prosecutors in recent weeks.

Cohen has said that at Trump’s direction, he arranged payments totaling $280,000 to porn actor Stormy Daniels and Playboy model Karen McDougal. According to Cohen, the payouts were to buy their silence about Trump, who was then in the thick of his first presidential campaign. ___

Associated Press writer Meg Kinnard in Columbia, South Carolina, contributed to this report.

NEW YORK (AP) — Donald Trump said in a social media post that he expects to be arrested Tuesday as a&nbsp;<a href="https://apnews.com/article/trump-grand-jury-investigation-manhattan-e35836ebb6179e1c0ea28877590cfc1c">New York prosecutor is eyeing charges</a>&nbsp;in a case examining hush money paid to women who alleged sexual encounters with the former president.<figure>
 <img src="https://media.eaglewebservices.com/public/2023/3/1679143938516.png" alt="" />
 <figcaption></figcaption>
 </figure>Trump said in a post on his Truth Social network early Saturday that “illegal leaks” from the Manhattan district attorney's office indicate that “THE FAR &amp; AWAY LEADING REPUBLICAN CANDIDATE &amp; FORMER PRESIDENT OF THE UNITED STATES OF AMERICA, WILL BE ARRESTED ON TUESDAY OF NEXT WEEK.”Messages left Saturday with the district attorney’s office were not immediately returned. Representatives for Trump did not immediately respond to calls for comment.Trump did not provide any details on social media about how he knew about the expected arrest. In his postings, he repeated his lies that the 2020 presidential election he lost to Democrat Joe Biden was stolen and he urged his followers to “PROTEST, TAKE OUR NATION BACK!” That language evoked the message from the then-president that preceded the riot at the U.S. Capitol on Jan. 6, 2021.Law enforcement officials in New York have been making security preparations for the possibility that Trump could be indicted.There has been no public announcement of any time frame for the grand jury’s secret work in the case, including any potential vote on whether to indict the ex-president.Trump's posting echoes one made last summer when he broke the news on Truth Socia that the FBI was searching his home as part of an investigation into the possible mishandling of classified documents.The grand jury in Manhattan has been hearing from witnesses, including former Trump lawyer Michael Cohen, who says he orchestrated payments in 2016 to two women to silence them about sexual encounters they said they had with Trump a decade earlier.Trump denies the encounters occurred, says he did nothing wrong and has cast the investigation as a “witch hunt” by a Democratic prosecutor bent on sabotaging the Republican’s 2024 presidential campaign.Manhattan District Attorney Alvin Bragg’s office has apparently been examining whether any state laws were broken in connection with the payments or the way Trump’s company compensated Cohen for his work to keep the women’s allegations quiet.Daniels and at least two former Trump aides — onetime political adviser Kellyanne Conway and former spokesperson Hope Hicks — are among witnesses who have met with prosecutors in recent weeks.Cohen has said that at Trump’s direction, he arranged payments totaling $280,000 to porn actor Stormy Daniels and Playboy model Karen McDougal. According to Cohen, the payouts were to buy their silence about Trump, who was then in the thick of his first presidential campaign. ___Associated Press writer Meg Kinnard in Columbia, South Carolina, contributed to this report.

Trump expects to be arrested Tuesday as DA eyes charges

PRATT COUNTY, Kan.—Three people died in an accident just before 3p.m. Friday in Pratt County.

The Kansas Highway Patrol reported a 2004 Ford Taurus driven by William Fowler Stevens, 32, Woodward, Oklahoma, was southbound on Kansas 61 two miles north of Preston.

The Taurus crossed the center line and struck a northbound 2014 Ford Fusion driven by Joshua Jamal Townsell, 30, Omaha, head-on.

Stevens,&nbsp;Townsell and a juvenile in the Fusion were pronounced dead at the scene. The KHP had incomplete seat belt usage information.

PRATT COUNTY, Kan.—Three people died in an accident just before 3p.m. Friday in Pratt County.The Kansas Highway Patrol reported a 2004 Ford Taurus driven by William Fowler Stevens, 32, Woodward, Oklahoma, was southbound on Kansas 61 two miles north of Preston.The Taurus crossed the center line and struck a northbound 2014 Ford Fusion driven by Joshua Jamal Townsell, 30, Omaha, head-on.Stevens,&nbsp;Townsell and a juvenile in the Fusion were pronounced dead at the scene. The KHP had incomplete seat belt usage information.

Nebraska man among three dead in Kansas head-on crash

Just after 5 p.m. March 11, a man wanted out of Florida driving a stolen car from Norfolk led the Holt County Sheriff’s Office on a high-speed pursuit that went through O’Neill. 

A gray Chevrolet Impala was observed traveling eastbound at a high rate of speed near Emmet. When the deputy activated his lights, the car continued traveling east and increased its speed to over 100mph. 

The pursuing deputy backed off the suspect as they went through O’Neill, but the suspect continued at speeds of 80+ mph. The vehicle continued east, and the pursuing Deputy and other officers caught up to vehicle as it turned south on 498th Avenue at Inman. The vehicle continued south for 7 miles before getting stuck on a minimum maintenance road. 

The suspect fled on foot and the pursuing Deputy was able to apprehend the suspect within a couple of minutes. 

It was discovered that the vehicle the suspect was driving was stolen a few hours prior from Norfolk and the suspect had an extraditable warrant out of Florida. The suspect was identified as Sean Podobensky, 39, of Florida. Podobensky was transported to Avera St. Anthony’s Hospital to get a medical clearance for issues unrelated to the pursuit. Podobensky was then transferred from St. Anthony’s to Faith Regional Hospital in Norfolk as an added precaution. The pursuing Deputy traveled with the ambulance crew and Podobensky and remained at the hospital until he was cleared at 4:30 a.m. Sunday. 

Podobensky was then taken to the Madison County jail and held on the Florida warrant with local charges pending.&nbsp;

Holt County Sheriff's OfficeJust after 5 p.m. March 11, a man wanted out of Florida driving a stolen car from Norfolk led the Holt County Sheriff’s Office on a high-speed pursuit that went through O’Neill. A gray Chevrolet Impala was observed traveling eastbound at a high rate of speed near Emmet. When the deputy activated his lights, the car continued traveling east and increased its speed to over 100mph. The pursuing deputy backed off the suspect as they went through O’Neill, but the suspect continued at speeds of 80+ mph. The vehicle continued east, and the pursuing Deputy and other officers caught up to vehicle as it turned south on 498th Avenue at Inman. The vehicle continued south for 7 miles before getting stuck on a minimum maintenance road. The suspect fled on foot and the pursuing Deputy was able to apprehend the suspect within a couple of minutes. It was discovered that the vehicle the suspect was driving was stolen a few hours prior from Norfolk and the suspect had an extraditable warrant out of Florida. The suspect was identified as Sean Podobensky, 39, of Florida. Podobensky was transported to Avera St. Anthony’s Hospital to get a medical clearance for issues unrelated to the pursuit. Podobensky was then transferred from St. Anthony’s to Faith Regional Hospital in Norfolk as an added precaution. The pursuing Deputy traveled with the ambulance crew and Podobensky and remained at the hospital until he was cleared at 4:30 a.m. Sunday. Podobensky was then taken to the Madison County jail and held on the Florida warrant with local charges pending.&nbsp;

Wanted Florida man hospitalized, jaiuled after high-speed chase

WASHINGTON (AP) — Pfizer’s COVID-19 pill Paxlovid won another vote of confidence from U.S. health advisers Thursday, clearing the way for its full regulatory approval by the Food and Drug Administration.

The medication has been used by millions of Americans since the FDA granted it&nbsp;<a href="https://apnews.com/article/coronavirus-pandemic-pfizer-medication-f5f65e7e61d6aa9c7dfa193053e8878a">emergency use authorization</a>&nbsp;in late 2021. The agency has the final say on giving Pfizer's drug full approval and is expected to decide by May.

A panel of outside experts voted 16-1 that Paxlovid remains a safe and effective treatment for high-risk adults with COVID-19 who are more likely to face hospitalization and death due to the virus.

“We still have many groups that stand to benefit from Paxlovid, including unvaccinated persons, under-vaccinated persons, the elderly and the immuno-compromised,” said Dr. Richard Murphy of the Department of Veterans Affairs.

The FDA said using Paxlovid in high-risk patients could prevent 1,500 COVID-19 deaths and 13,000 hospitalizations per week.

The panel's positive vote was widely expected, given that Paxlovid has been the go-to treatment against COVID-19, especially since an entire group of&nbsp;<a href="https://apnews.com/article/coronavirus-pandemic-science-business-health-f8cbfdb48f6c78aea16930b45af4e024">antibody drugs</a>&nbsp;has been sidelined as the virus mutated.

The U.S. continues reporting about 4,000 deaths and 35,000 hospitalizations weekly, the FDA noted.

The agency asked its panel of independent medical experts to address several lingering questions involving Paxlovid, including which people currently benefit from treatment and whether the drug plays a role in&nbsp;<a href="https://apnews.com/article/covid-science-health-2e843a971be751e8b8b25575c8bfc60a">cases of COVID-19 rebound</a>.

The panel agreed with assessments by both the FDA and Pfizer that found no clear link between the use of Paxlovid and returning symptoms, but said more information is needed from studies and medical records data. High-profile cases drew attention to the issue last year, including&nbsp;<a href="https://apnews.com/article/biden-covid-health-government-and-politics-6ffc64aa1d8d67b074dd8beb67d7cf6f">President Joe Biden</a>&nbsp;and&nbsp;<a href="https://apnews.com/article/jill-biden-covid-rebound-case-527711014401a11dcd37952e1f1e6aa4">first lady Jill Biden</a>.

Between 10% and 16% of patients across multiple Pfizer studies had symptoms return, regardless of whether they’d received Paxlovid or a dummy pill. Such cases “likely reflect natural COVID-19 progression,” the FDA concluded.

The federal government has purchased more than 20 million doses of Paxlovid and encouraged health professionals to&nbsp;<a href="https://apnews.com/article/biden-covid-business-health-medication-a5adf6c2e7894e479e795b5a6d1aeb84">prescribe it aggressively</a>&nbsp;to help prevent severe COVID-19. But that’s led to concerns of overprescribing and questions of whether some patients are needlessly getting the drug.

Pfizer originally studied Paxlovid in the highest-risk COVID-19 patients: unvaccinated adults with other health problems and no evidence of prior coronavirus infection. But that doesn’t reflect the U.S. population today, where an estimated 95% of people have protection from at least one vaccine dose, a prior infection or both.

The FDA reviewed Pfizer data showing Paxlovid&nbsp;<a href="https://apnews.com/article/covid-science-health-seniors-d8f6af66517054aae7fb27d1ecc6df66">made no meaningful difference</a>&nbsp;in otherwise healthy adults, whether or not they’d been previously vaccinated.

But when FDA teased out data for high-risk adults — regardless of their vaccination or infection history — Paxlovid still showed a significant benefit, reducing the chance of hospitalization or death between 60% and 85%, depending on individual circumstances. Patients in that group included seniors and those with serious health problems, such as diabetes, obesity, lung disease and immune-system disorders.

With so many different factors, panelists said prescribing Paxlovid will remain a case-by-case decision.

Dr. Sankar Swaminathan of the University of Utah and other panelists stressed the importance of managing potentially dangerous drug interactions between Paxlovid and other commonly used medications.

WASHINGTON (AP) — Pfizer’s COVID-19 pill Paxlovid won another vote of confidence from U.S. health advisers Thursday, clearing the way for its full regulatory approval by the Food and Drug Administration.The medication has been used by millions of Americans since the FDA granted it&nbsp;<a href="https://apnews.com/article/coronavirus-pandemic-pfizer-medication-f5f65e7e61d6aa9c7dfa193053e8878a">emergency use authorization</a>&nbsp;in late 2021. The agency has the final say on giving Pfizer's drug full approval and is expected to decide by May.A panel of outside experts voted 16-1 that Paxlovid remains a safe and effective treatment for high-risk adults with COVID-19 who are more likely to face hospitalization and death due to the virus.“We still have many groups that stand to benefit from Paxlovid, including unvaccinated persons, under-vaccinated persons, the elderly and the immuno-compromised,” said Dr. Richard Murphy of the Department of Veterans Affairs.The FDA said using Paxlovid in high-risk patients could prevent 1,500 COVID-19 deaths and 13,000 hospitalizations per week.The panel's positive vote was widely expected, given that Paxlovid has been the go-to treatment against COVID-19, especially since an entire group of&nbsp;<a href="https://apnews.com/article/coronavirus-pandemic-science-business-health-f8cbfdb48f6c78aea16930b45af4e024">antibody drugs</a>&nbsp;has been sidelined as the virus mutated.The U.S. continues reporting about 4,000 deaths and 35,000 hospitalizations weekly, the FDA noted.The agency asked its panel of independent medical experts to address several lingering questions involving Paxlovid, including which people currently benefit from treatment and whether the drug plays a role in&nbsp;<a href="https://apnews.com/article/covid-science-health-2e843a971be751e8b8b25575c8bfc60a">cases of COVID-19 rebound</a>.The panel agreed with assessments by both the FDA and Pfizer that found no clear link between the use of Paxlovid and returning symptoms, but said more information is needed from studies and medical records data. High-profile cases drew attention to the issue last year, including&nbsp;<a href="https://apnews.com/article/biden-covid-health-government-and-politics-6ffc64aa1d8d67b074dd8beb67d7cf6f">President Joe Biden</a>&nbsp;and&nbsp;<a href="https://apnews.com/article/jill-biden-covid-rebound-case-527711014401a11dcd37952e1f1e6aa4">first lady Jill Biden</a>.Between 10% and 16% of patients across multiple Pfizer studies had symptoms return, regardless of whether they’d received Paxlovid or a dummy pill. Such cases “likely reflect natural COVID-19 progression,” the FDA concluded.The federal government has purchased more than 20 million doses of Paxlovid and encouraged health professionals to&nbsp;<a href="https://apnews.com/article/biden-covid-business-health-medication-a5adf6c2e7894e479e795b5a6d1aeb84">prescribe it aggressively</a>&nbsp;to help prevent severe COVID-19. But that’s led to concerns of overprescribing and questions of whether some patients are needlessly getting the drug.Pfizer originally studied Paxlovid in the highest-risk COVID-19 patients: unvaccinated adults with other health problems and no evidence of prior coronavirus infection. But that doesn’t reflect the U.S. population today, where an estimated 95% of people have protection from at least one vaccine dose, a prior infection or both.The FDA reviewed Pfizer data showing Paxlovid&nbsp;<a href="https://apnews.com/article/covid-science-health-seniors-d8f6af66517054aae7fb27d1ecc6df66">made no meaningful difference</a>&nbsp;in otherwise healthy adults, whether or not they’d been previously vaccinated.But when FDA teased out data for high-risk adults — regardless of their vaccination or infection history — Paxlovid still showed a significant benefit, reducing the chance of hospitalization or death between 60% and 85%, depending on individual circumstances. Patients in that group included seniors and those with serious health problems, such as diabetes, obesity, lung disease and immune-system disorders.With so many different factors, panelists said prescribing Paxlovid will remain a case-by-case decision.Dr. Sankar Swaminathan of the University of Utah and other panelists stressed the importance of managing potentially dangerous drug interactions between Paxlovid and other commonly used medications.___

COVID-19 pill moves closer to full FDA approval

DETROIT (AP) — Ford is recalling more than 1.5 million vehicles in the U.S. in two actions to fix leaky brake hoses and windshield wiper arms that can break.

The largest of two recalls covers nearly 1.3 million 2013 through 2018 Ford Fusion and Lincoln MKX midsize cars. The company says in documents posted Friday by safety regulators that the front brake hoses can rupture and leak brake fluid. That would increase brake pedal travel and make stopping distances longer.

Dealers will replace the hoses. Ford will mail owner notification letters starting April 17. They'll get a second letter once parts are available for the fix.

Owners who are experiencing problems should call their dealer, Ford says. There are some parts already available for repairs. The company says only about 2% of the vehicles will have brake hose leaks.

Ford says it’s aware of one crash with no mention of injuries due to the problem.

The second recall covers more than 222,000 F-150 pickups from 2021. The windshield wiper arms can break.

Dealers will replace the arms if needed. Owners will be notified starting March 27.

DETROIT (AP) — Ford is recalling more than 1.5 million vehicles in the U.S. in two actions to fix leaky brake hoses and windshield wiper arms that can break.The largest of two recalls covers nearly 1.3 million 2013 through 2018 Ford Fusion and Lincoln MKX midsize cars. The company says in documents posted Friday by safety regulators that the front brake hoses can rupture and leak brake fluid. That would increase brake pedal travel and make stopping distances longer.Dealers will replace the hoses. Ford will mail owner notification letters starting April 17. They'll get a second letter once parts are available for the fix.Owners who are experiencing problems should call their dealer, Ford says. There are some parts already available for repairs. The company says only about 2% of the vehicles will have brake hose leaks.Ford says it’s aware of one crash with no mention of injuries due to the problem.The second recall covers more than 222,000 F-150 pickups from 2021. The windshield wiper arms can break.Dealers will replace the arms if needed. Owners will be notified starting March 27.

Ford recalls 1.5M vehicles to fix brake hoses, wiper arms

By CINDY GONZALEZ <a href="https://nebraskaexaminer.com/briefs/city-of-omaha-to-have-its-first-woman-fire-chief/">Nebraska Examiner</a>

OMAHA — The City of Omaha will have 
its first woman fire chief as Kathy Bossman this month succeeds retiring
 Fire Chief Dan Olsen.

The appointment was announced Thursday by Mayor Jean Stothert.

Bossman joined the department in 1997
 as a firefighter paramedic. She has been promoted to captain, battalion
 chief and, in 2017, assistant fire chief.

Among Bossman’s achievements is 
helping to design a peer support program and a diversity, equity and 
inclusion education program for the department. Currently, Bossman 
supervises the 184 firefighters and seven battalion chiefs assigned to 
the “C” shift and manages the Emergency Medical Services Division.

“As Chief, I intend to continue our 
diversity, equity, inclusion and sense of belonging, especially in our 
higher ranks,” Bossman said in a statement. “We value the different 
perspectives that a diverse workforce offers.”

The city entertained only internal 
applicants from the department. Pending approval of the Personnel Board,
 her annual salary will be $184,205.

Bossman earned a master of arts 
degree in organizational leadership with a concentration in fire/rescue 
executive leadership from Waldorf University, a bachelor of arts degree 
in psychology from the University of Nebraska-Lincoln and an associate 
degree in science-fire science from Southeast Community College. She 
received paramedic certification from Creighton University.

Olsen is set to retire March 24 after 30 years with the department.

During his tenure, Olsen supervised 
the design and construction of Omaha’s first new fire station in 22 
years — Station 31 at 34th and L Streets in South Omaha. Plans currently
 are underway to build a fire station in northwest Omaha and a joint 
Omaha Fire-Omaha Police public safety headquarters.

Olsen’s gross monthly pension benefit will be $10,514, according to a statement from Stothert’s office.

Bossman takes the helm at a time of growth in the city that requires 
updated emergency plans, facilities, equipment, technology and advanced 
training for firefighters, the mayor said.

By CINDY GONZALEZ <a href="https://nebraskaexaminer.com/briefs/city-of-omaha-to-have-its-first-woman-fire-chief/">Nebraska Examiner</a>OMAHA — The City of Omaha will have 
its first woman fire chief as Kathy Bossman this month succeeds retiring
 Fire Chief Dan Olsen.The appointment was announced Thursday by Mayor Jean Stothert.<figure>
 <img src="https://media.eaglewebservices.com/public/2023/3/1679059997448.jpeg" alt="Kathy Bossman (Courtesy of City of Omaha)" />
 <figcaption>Kathy Bossman (Courtesy of City of Omaha)</figcaption>
 </figure>Bossman joined the department in 1997
 as a firefighter paramedic. She has been promoted to captain, battalion
 chief and, in 2017, assistant fire chief.Among Bossman’s achievements is 
helping to design a peer support program and a diversity, equity and 
inclusion education program for the department. Currently, Bossman 
supervises the 184 firefighters and seven battalion chiefs assigned to 
the “C” shift and manages the Emergency Medical Services Division.“As Chief, I intend to continue our 
diversity, equity, inclusion and sense of belonging, especially in our 
higher ranks,” Bossman said in a statement. “We value the different 
perspectives that a diverse workforce offers.”The city entertained only internal 
applicants from the department. Pending approval of the Personnel Board,
 her annual salary will be $184,205.Bossman earned a master of arts 
degree in organizational leadership with a concentration in fire/rescue 
executive leadership from Waldorf University, a bachelor of arts degree 
in psychology from the University of Nebraska-Lincoln and an associate 
degree in science-fire science from Southeast Community College. She 
received paramedic certification from Creighton University.Olsen is set to retire March 24 after 30 years with the department.During his tenure, Olsen supervised 
the design and construction of Omaha’s first new fire station in 22 
years — Station 31 at 34th and L Streets in South Omaha. Plans currently
 are underway to build a fire station in northwest Omaha and a joint 
Omaha Fire-Omaha Police public safety headquarters.Olsen’s gross monthly pension benefit will be $10,514, according to a statement from Stothert’s office.Bossman takes the helm at a time of growth in the city that requires 
updated emergency plans, facilities, equipment, technology and advanced 
training for firefighters, the mayor said.

City of Omaha to have its first female fire chief

By PAUL HAMMEL <a href="https://nebraskaexaminer.com/2023/03/16/death-penalty-opponents-say-its-time-for-another-statewide-vote-on-the-issue/">Nebraska Examiner</a>

LINCOLN — Opponents of the death penalty argued Thursday 
that it’s time to give Nebraskans another opportunity to repeal a 
punishment they called “cruel and inhumane.”&nbsp;

“We say we care about lives and values, but we still 
support this horrible piece of policy,” said State Sen. Terrell McKinney
 of Omaha.

At a press conference, McKinney was joined by 
representatives of Nebraskans for Alternatives to the Death Penalty, 
ACLU of Nebraska, the Nebraska Catholic Conference and Amnesty 
International in calling for passage of a proposed constitutional 
amendment to prohibit capital punishment.

If &nbsp;the Legislature approved <a target="_blank" href="https://nebraskalegislature.gov/FloorDocs/108/PDF/Intro/LR17CA.pdf">Legislative Resolution 17CA</a>,
 it would go before voters in 2024. The proposal would replace the death
 penalty with life in prison for the most serious murders.

A vote in 2024&nbsp;would be six years after voters overwhelmingly approved restoring the death penalty — by a 3-to-2 margin.

That vote followed a historic decision by the Nebraska 
Legislature in 2015 to repeal capital punishment — a repeal that 
overcame a veto by then-Gov. Pete Ricketts. The millionaire governor, 
along with his family, helped finance the petition drive to put the 
matter on the ballot.

When advocates for repeal were asked why another vote was 
needed after the resounding defeat in 2016, they said that nationally, 
support for the death penalty has waned and that since 2016, four states
 — Virginia, Colorado, New Hampshire and Washington — have repealed 
capital punishment.

Nebraska is one of 27 states that have a death penalty, according to 
the Death Penalty Information Center, though in four of those states, 
executions have been put on hold in part due to concerns about botched 
executions. The federal government has also placed a moratorium on 
executions pending a review of capital punishment protocols.

McKinney and others said that getting the issue on the ballot would provide an opportunity to educate voters on the issue.

Former Attorney General Don Stenberg, who co-chaired the effort to 
restore the death penalty, said he doubted whether public opinion on the
 issue had changed.

Majority see it as ‘appropriate penalty’

“I think a majority of Nebraskans think if someone commits
 a mass murder or tortures children like John Joubert did, the death 
penalty is an appropriate penalty,” Stenberg said.

Joubert, an airman at Offutt Air Force Base, was executed in Nebraska
 in 1996 for the torture-slayings of two young boys in Sarpy County. He 
also admitted to killing another boy in his home state of Maine in 1982.

Fran Kaye, a longtime death penalty opponent, said it was 
dogged work with state senators that led to the repeal vote in 2015, 
informing them about how death penalty is inhumane, is 
disproportionately applied to people of color and is not a deterrent to 
crime.&nbsp;

Such an educational effort, Kaye said, could also convince voters to also support repeal.

Supporters of repeal said another reason to end capital punishment 
was the possibility&nbsp;of executing an innocent person for a murder they 
didn’t commit.

Since 1976, 191 people sentenced to death have been exonerated nationally.

No one testified against LR 17CA during a public hearing before the 
Legislature’s Judiciary Committee on Thursday. But a spokeswoman for the
 Nebraska Attorney General’s Office indicated that the office opposed 
the proposal.

Curt Messner, whose sister Janet and another woman were 
murdered by Randy Reeves at a Quaker meeting house in Nebraska in 1980, 
was among those urging repeal of the death sentence on Thursday.

Messner said that when Reeves, who was a foster child 
taken in by the Messner family, was sentenced to die, it increased 
Messner’s grief.

“I know it was not right,” he said of the sentence.

Reeves came within two days of being executed in 1999, but
 his sentence was later reduced to life in prison after a ruling by the 
Nebraska Supreme Court. Reeves died in prison in 2016.

<figure>
 <img src="https://media.eaglewebservices.com/public/2023/3/1679059828078.png" alt="State Sen. Terrell McKinney of Omaha discusses his proposal to let Nebraskans vote to repeal the death penalty. (Paul Hammel/Nebraska Examiner)" />
 <figcaption>State Sen. Terrell McKinney of Omaha discusses his proposal to let Nebraskans vote to repeal the death penalty. (Paul Hammel/Nebraska Examiner)</figcaption>
 </figure>By PAUL HAMMEL <a href="https://nebraskaexaminer.com/2023/03/16/death-penalty-opponents-say-its-time-for-another-statewide-vote-on-the-issue/">Nebraska Examiner</a>LINCOLN — Opponents of the death penalty argued Thursday 
that it’s time to give Nebraskans another opportunity to repeal a 
punishment they called “cruel and inhumane.”&nbsp;“We say we care about lives and values, but we still 
support this horrible piece of policy,” said State Sen. Terrell McKinney
 of Omaha.At a press conference, McKinney was joined by 
representatives of Nebraskans for Alternatives to the Death Penalty, 
ACLU of Nebraska, the Nebraska Catholic Conference and Amnesty 
International in calling for passage of a proposed constitutional 
amendment to prohibit capital punishment.<h2>Life sentence would replace execution</h2>If &nbsp;the Legislature approved <a target="_blank" href="https://nebraskalegislature.gov/FloorDocs/108/PDF/Intro/LR17CA.pdf">Legislative Resolution 17CA</a>,
 it would go before voters in 2024. The proposal would replace the death
 penalty with life in prison for the most serious murders.A vote in 2024&nbsp;would be six years after voters overwhelmingly approved restoring the death penalty — by a 3-to-2 margin.That vote followed a historic decision by the Nebraska 
Legislature in 2015 to repeal capital punishment — a repeal that 
overcame a veto by then-Gov. Pete Ricketts. The millionaire governor, 
along with his family, helped finance the petition drive to put the 
matter on the ballot.<h2>Repeal passed in four states</h2>When advocates for repeal were asked why another vote was 
needed after the resounding defeat in 2016, they said that nationally, 
support for the death penalty has waned and that since 2016, four states
 — Virginia, Colorado, New Hampshire and Washington — have repealed 
capital punishment.Nebraska is one of 27 states that have a death penalty, according to 
the Death Penalty Information Center, though in four of those states, 
executions have been put on hold in part due to concerns about botched 
executions. The federal government has also placed a moratorium on 
executions pending a review of capital punishment protocols.McKinney and others said that getting the issue on the ballot would provide an opportunity to educate voters on the issue.Former Attorney General Don Stenberg, who co-chaired the effort to 
restore the death penalty, said he doubted whether public opinion on the
 issue had changed.<h2>Majority see it as ‘appropriate penalty’</h2>“I think a majority of Nebraskans think if someone commits
 a mass murder or tortures children like John Joubert did, the death 
penalty is an appropriate penalty,” Stenberg said.Joubert, an airman at Offutt Air Force Base, was executed in Nebraska
 in 1996 for the torture-slayings of two young boys in Sarpy County. He 
also admitted to killing another boy in his home state of Maine in 1982.Fran Kaye, a longtime death penalty opponent, said it was 
dogged work with state senators that led to the repeal vote in 2015, 
informing them about how death penalty is inhumane, is 
disproportionately applied to people of color and is not a deterrent to 
crime.&nbsp;Such an educational effort, Kaye said, could also convince voters to also support repeal.Supporters of repeal said another reason to end capital punishment 
was the possibility&nbsp;of executing an innocent person for a murder they 
didn’t commit.Since 1976, 191 people sentenced to death have been exonerated nationally.No one testified against LR 17CA during a public hearing before the 
Legislature’s Judiciary Committee on Thursday. But a spokeswoman for the
 Nebraska Attorney General’s Office indicated that the office opposed 
the proposal.<h2>Victim’s brother urges repeal</h2>Curt Messner, whose sister Janet and another woman were 
murdered by Randy Reeves at a Quaker meeting house in Nebraska in 1980, 
was among those urging repeal of the death sentence on Thursday.Messner said that when Reeves, who was a foster child 
taken in by the Messner family, was sentenced to die, it increased 
Messner’s grief.“I know it was not right,” he said of the sentence.Reeves came within two days of being executed in 1999, but
 his sentence was later reduced to life in prison after a ruling by the 
Nebraska Supreme Court. Reeves died in prison in 2016.

Death penalty opponents: Time for statewide vote on the issue

United States Attorney Steven Russell announced that Kyle A. Halsey, 33, of Elizabeth, N.J., was sentenced on March 15 by the United States District Judge Brian C. Buescher to 24 months imprisonment for illegal transaction with an access device. After his release from prison, Halsey will begin a three-year term of supervised release.&nbsp; There is no parole in the federal system. Halsey was also ordered to pay restitution of $2,544.24.&nbsp;

In February 2022, Halsey used a credit card that belonged to another person to purchase a skid loader and bucket from a business in Nebraska and had the equipment delivered to New Jersey.&nbsp; The total for the transaction was $46,230.87, and Halsey paid with a credit card that did not belong to him.&nbsp; Police in New Jersey recovered the skid loader in March 2022, while Halsey was in the process of selling it to another person.

This case was investigated by the United States Secret Service, the Sarpy County Sheriff’s Office, and the Ho-Ho-Kus and Paramus Police Departments in New Jersey.&nbsp;

U.S. Attorney's OfficeUnited States Attorney Steven Russell announced that Kyle A. Halsey, 33, of Elizabeth, N.J., was sentenced on March 15 by the United States District Judge Brian C. Buescher to 24 months imprisonment for illegal transaction with an access device. After his release from prison, Halsey will begin a three-year term of supervised release.&nbsp; There is no parole in the federal system. Halsey was also ordered to pay restitution of $2,544.24.&nbsp;In February 2022, Halsey used a credit card that belonged to another person to purchase a skid loader and bucket from a business in Nebraska and had the equipment delivered to New Jersey.&nbsp; The total for the transaction was $46,230.87, and Halsey paid with a credit card that did not belong to him.&nbsp; Police in New Jersey recovered the skid loader in March 2022, while Halsey was in the process of selling it to another person.This case was investigated by the United States Secret Service, the Sarpy County Sheriff’s Office, and the Ho-Ho-Kus and Paramus Police Departments in New Jersey.&nbsp;

N.J. man sentenced after fraudulent purchase of Neb. skid steer

NEW YORK (AP) — Eleven of the biggest banks in the country announced a $30 billion rescue package for First Republic Bank on Thursday, in an effort to prevent the California-based bank from becoming the third bank to fail in less than a week.

First Republic serves a similar clientele as Silicon Valley Bank, which failed Friday after depositors withdrew about $40 billion. It appears that First Republic, which had deposits totaling $176.4 billion as of Dec. 31, was facing a similar crisis.

In a statement, the group of banks confirmed that other unnamed banks had seen large amounts of withdrawals of uninsured deposits, which are those that exceed the $250,000 level insured by the Federal Deposit Insurance Corporation. First Republic's shares dropped more than 60% Monday, even after the bank said it had secured additional funding from JPMorgan and the Federal Reserve.

Thursday the bank’s shares were down as much as 36%, but rallied after reports the rescue package was in the works, and closed up nearly 9%.

JPMorgan Chase, Bank of America, Citigroup and Wells Fargo have agreed to each put $5 billion in uninsured deposits into First Republic. Meanwhile Morgan Stanley and Goldman Sachs would deposit $2.5 billion each into the bank. The remaining $5 billion would consist of $1 billion contributions from BNY Mellon, State Street, PNC Bank, Truist and US Bank.

“The actions of America's largest banks reflect their confidence in the country's banking system,” the banks said in their statement.

The nation's banking regulators also issued a statement in support of the bank rescue package.

“This show of support by a group of large banks is most welcome, and demonstrates the resilience of the banking system,” said Treasury Secretary Janet Yellen, Acting Comptroller of the Currency Michael Hsu, Federal Reserve Chair Jerome Powell and FDIC Chairman Martin Gruenberg.

The news could help calm the nerves of bank investors after the collapse last week of Silicon Valley Bank, which was the second biggest bank failure in U.S. history after the demise of&nbsp;<a href="https://apnews.com/article/08aeb5a6c9d542ccb6d6154d4fa1e3a6">Washington Mutual</a>&nbsp;in 2008.

The shuttering of Silicon Valley Bank Friday and of New York-based Signature Bank two days later has&nbsp;<a href="https://apnews.com/article/banks-federal-reserve-silicon-valley-lending-rescue-a04875a164165b50e971ff4576bf4e27">revived bad memories</a>&nbsp;of the financial crisis that plunged the United States into the Great Recession of 2007-2009.

Over the weekend the&nbsp;<a href="https://apnews.com/article/biden-wall-street-silicon-valley-banks-trump-e6c27850d35d7f782fc6af9498925e7f">federal government</a>, determined to&nbsp;<a href="https://apnews.com/article/silicon-valley-bank-uk-bailout-hsbc-sale-4d2da0e9c6f39c0fd8faf321a2b295cf">restore public confidence</a>&nbsp;in the banking system, moved to protect all the banks' deposits, even those that exceeded the FDIC’s $250,000 limit per individual account.

NEW YORK (AP) — A group of Wall Street banks is planning a rescue package of at least $20 billion for <a href="https://www.firstrepublic.com/locations?gnav=globalheader;locations-view-all-locations">First Republic Bank, </a>sources told The Associated Press on Thursday.

The rescue package comes as San Francisco-based First Republic has been battered by investors and worries have grown that the midsized bank might be the next to fail, after Silicon Valley Bank and Signature Bank.

Sources familiar with the matter said that JPMorgan Chase, Citigroup, Wells Fargo and Goldman Sachs are part of the group of banks pulling together the package. It is likely to consist of $20 billion in deposits and capital for First Republic, but it might be as high as $30 billion.

The sources spoke on the condition of anonymity because the package was still being developed.

A First Republic spokesman declined to comment on the reports.

First Republic Bank's stock has faltered as customers began pulling their deposits out. But it was up more than 3% Thursday after reports of the recue package surfaced.

The news comes after the collapse last week of&nbsp;<a href="https://apnews.com/article/svb-fed-bonds-rates-banks-inflation-a24b28b3caeede91c76cd120aa9b7966">Silicon Valley Bank</a>, which was the second biggest bank failure in U.S. history after the demise of&nbsp;<a href="https://apnews.com/article/08aeb5a6c9d542ccb6d6154d4fa1e3a6">Washington Mutual</a>&nbsp;in 2008.

The shuttering of Silicon Valley Bank Friday and of New York-based&nbsp;<a href="https://apnews.com/article/signature-bank-fdic-new-york-svb-40c361918e2bc9c20d7b19b683b01f65">Signature Bank</a>&nbsp;two days later has&nbsp;<a href="https://apnews.com/article/banks-federal-reserve-silicon-valley-lending-rescue-a04875a164165b50e971ff4576bf4e27">revived bad memories</a>&nbsp;of the financial crisis that plunged the United States into the Great Recession of 2007-2009.

The White House had no comment Thursday on the reports of the rescue package for First Republic Bank, which has more than $200 billion in assets.

<figure>
 <img src="https://media.eaglewebservices.com/public/2023/3/1678995137267.png" alt="First Republic Bank's stock has faltered as customers began pulling their deposits out. But it was up more than 3% Thursday after reports of the recue package surfaced-photo courtesy First Republic Bank" />
 <figcaption>First Republic Bank's stock has faltered as customers began pulling their deposits out. But it was up more than 3% Thursday after reports of the recue package surfaced-photo courtesy First Republic Bank</figcaption>
 </figure>NEW YORK (AP) — Eleven of the biggest banks in the country announced a $30 billion rescue package for First Republic Bank on Thursday, in an effort to prevent the California-based bank from becoming the third bank to fail in less than a week.First Republic serves a similar clientele as Silicon Valley Bank, which failed Friday after depositors withdrew about $40 billion. It appears that First Republic, which had deposits totaling $176.4 billion as of Dec. 31, was facing a similar crisis.In a statement, the group of banks confirmed that other unnamed banks had seen large amounts of withdrawals of uninsured deposits, which are those that exceed the $250,000 level insured by the Federal Deposit Insurance Corporation. First Republic's shares dropped more than 60% Monday, even after the bank said it had secured additional funding from JPMorgan and the Federal Reserve.Thursday the bank’s shares were down as much as 36%, but rallied after reports the rescue package was in the works, and closed up nearly 9%.JPMorgan Chase, Bank of America, Citigroup and Wells Fargo have agreed to each put $5 billion in uninsured deposits into First Republic. Meanwhile Morgan Stanley and Goldman Sachs would deposit $2.5 billion each into the bank. The remaining $5 billion would consist of $1 billion contributions from BNY Mellon, State Street, PNC Bank, Truist and US Bank.“The actions of America's largest banks reflect their confidence in the country's banking system,” the banks said in their statement.The nation's banking regulators also issued a statement in support of the bank rescue package.“This show of support by a group of large banks is most welcome, and demonstrates the resilience of the banking system,” said Treasury Secretary Janet Yellen, Acting Comptroller of the Currency Michael Hsu, Federal Reserve Chair Jerome Powell and FDIC Chairman Martin Gruenberg.The news could help calm the nerves of bank investors after the collapse last week of Silicon Valley Bank, which was the second biggest bank failure in U.S. history after the demise of&nbsp;<a href="https://apnews.com/article/08aeb5a6c9d542ccb6d6154d4fa1e3a6">Washington Mutual</a>&nbsp;in 2008.The shuttering of Silicon Valley Bank Friday and of New York-based Signature Bank two days later has&nbsp;<a href="https://apnews.com/article/banks-federal-reserve-silicon-valley-lending-rescue-a04875a164165b50e971ff4576bf4e27">revived bad memories</a>&nbsp;of the financial crisis that plunged the United States into the Great Recession of 2007-2009.Over the weekend the&nbsp;<a href="https://apnews.com/article/biden-wall-street-silicon-valley-banks-trump-e6c27850d35d7f782fc6af9498925e7f">federal government</a>, determined to&nbsp;<a href="https://apnews.com/article/silicon-valley-bank-uk-bailout-hsbc-sale-4d2da0e9c6f39c0fd8faf321a2b295cf">restore public confidence</a>&nbsp;in the banking system, moved to protect all the banks' deposits, even those that exceeded the FDIC’s $250,000 limit per individual account.----------------NEW YORK (AP) — A group of Wall Street banks is planning a rescue package of at least $20 billion for <a href="https://www.firstrepublic.com/locations?gnav=globalheader;locations-view-all-locations">First Republic Bank, </a>sources told The Associated Press on Thursday.The rescue package comes as San Francisco-based First Republic has been battered by investors and worries have grown that the midsized bank might be the next to fail, after Silicon Valley Bank and Signature Bank.Sources familiar with the matter said that JPMorgan Chase, Citigroup, Wells Fargo and Goldman Sachs are part of the group of banks pulling together the package. It is likely to consist of $20 billion in deposits and capital for First Republic, but it might be as high as $30 billion.The sources spoke on the condition of anonymity because the package was still being developed.A First Republic spokesman declined to comment on the reports.First Republic Bank's stock has faltered as customers began pulling their deposits out. But it was up more than 3% Thursday after reports of the recue package surfaced.The news comes after the collapse last week of&nbsp;<a href="https://apnews.com/article/svb-fed-bonds-rates-banks-inflation-a24b28b3caeede91c76cd120aa9b7966">Silicon Valley Bank</a>, which was the second biggest bank failure in U.S. history after the demise of&nbsp;<a href="https://apnews.com/article/08aeb5a6c9d542ccb6d6154d4fa1e3a6">Washington Mutual</a>&nbsp;in 2008.The shuttering of Silicon Valley Bank Friday and of New York-based&nbsp;<a href="https://apnews.com/article/signature-bank-fdic-new-york-svb-40c361918e2bc9c20d7b19b683b01f65">Signature Bank</a>&nbsp;two days later has&nbsp;<a href="https://apnews.com/article/banks-federal-reserve-silicon-valley-lending-rescue-a04875a164165b50e971ff4576bf4e27">revived bad memories</a>&nbsp;of the financial crisis that plunged the United States into the Great Recession of 2007-2009.Over the weekend the&nbsp;<a href="https://apnews.com/article/biden-wall-street-silicon-valley-banks-trump-e6c27850d35d7f782fc6af9498925e7f">federal government</a>, determined to&nbsp;<a href="https://apnews.com/article/silicon-valley-bank-uk-bailout-hsbc-sale-4d2da0e9c6f39c0fd8faf321a2b295cf">restore public confidence</a>&nbsp;in the banking system, moved to protect all the banks' deposits, even those that exceeded the FDIC’s $250,000 limit per individual account.The White House had no comment Thursday on the reports of the rescue package for First Republic Bank, which has more than $200 billion in assets.

Effort underway on $30 billion rescue plan for failing U.S. bank

KANSAS CITY (AP) —The stakes are higher in Ohio this year for&nbsp;<a href="https://apnews.com/hub/march-madness">March Madness</a>&nbsp;— and not just because it's a regional host for the first round of the men's NCAA basketball tournament.

For the first time, Ohio sports fans can click on a mobile app or tap into kiosks at bars, restaurants or grocery stores and legally bet on the famed tournament.

<a href="https://apnews.com/article/sports-legislature-betting-dodge-city-3dd926041924c63c3cdbf4ba950b1d98">Kansas</a>,&nbsp;<a href="https://apnews.com/article/march-madness-sports-betting-addiction-mobile-massachusetts-2a82643a86d6d17a42a1e52c27215854">Massachusetts</a>&nbsp;and Maryland also are new additions to the world of online sports betting since the NCAA tournament last tipped off. A total of 33 states and the District of Columbia now offer at least some form of sports wagering — each scrambling for shares of a multibillion-dollar enterprise that has rapidly expanded after&nbsp;<a href="https://apnews.com/article/nv-state-wire-north-america-courts-supreme-courts-gambling-industry-f3fa1f71b8f44378a7e2c51d321b13b4">the U.S. Supreme Court allowed it</a>&nbsp;nearly five years ago.

Ohio got off to a booming start when it launched sports betting in January. In its first month, Ohio bettors&nbsp;<a href="https://apnews.com/article/ohio-sports-betting-gambling-acedf48f0a29188936c9f95a16d4ca7a">wagered more than $1.1 billion</a>, generating more than $20 million in state tax revenue. That nearly tripled the revenue amount that legislative analysts had projected for the entire first six months of operation. But no one's blaming them for missing the mark.

“They couldn’t know how big of a market we were going to have on day one,” said Jessica Franks, communications director at the Ohio Casino Control Commission.

Whereas some states started with limited in-person sports betting and gradually added mobile apps, Ohio began more aggressively — simultaneously launching numerous mobile options and retail locations. Republican Gov. Mike DeWine is now proposing to double the tax rate on sports betting.

<a href="https://apnews.com/article/d09a306184914ed28c402251176cec8d">New York began allowing sports betting</a>&nbsp;in 2019, but only in person at four upstate casinos, limiting the market. Betting boomed when the state began allowing people to make sports bets through cell phones and computers in January 2022. In the first month,&nbsp;<a href="https://apnews.com/article/sports-business-football-new-york-new-jersey-5dd240f1375493c5c08066ec74034890">more than $1.6 billion was wagered</a>&nbsp;through online sports betting, compared to just $15 million through in-person sports bets at casinos.

New York charges a 51% tax on revenue from mobile sports betting — a far higher rate than other states — with most revenue going to education. Budget officials originally projected that mobile sports betting would generate $357 million in state tax revenue for the 2023 fiscal year, which ends March 31. Bettors have blown that away. Through February, mobile sports betting had&nbsp;<a href="https://www.gaming.ny.gov/pdf/mobile/Monthly%20Mobile%20Sports%20Wagering%20Report%20Statewide.pdf">generated $661 million of tax revenue</a>&nbsp;for education.

State Sen. Joseph Addabbo Jr., who advocated for sports betting as chair of the Senate Racing, Gaming and Wagering Committee, said even he is amazed at the results.

“There is an appetite, certainly, to do sports betting with a mobile device," Addabbo said.

New York and Ohio both have large populations and multiple professional sports teams to help drive interest in sports betting.

Arkansas, a much smaller state without major league sports teams, began in-person sports betting at casinos in July 2019. Things really took off last year when it launched mobile sports betting. State figures show nearly $3 million was wagered on this year's Super Bowl — more than three times the annual amount before mobile betting was allowed.

State officials expect people from neighboring states to cross into Arkansas to bet on March Madness.

“We will be surprised if March doesn’t set a new monthly record for sports betting in the state,” said Scott Hardin, spokesperson for the Arkansas Department of Finance and Administration.

Other states also have exceeded expectations for sports betting revenues.

Indiana's sports wagering taxes topped $31 million in the 2022 fiscal year — well more than&nbsp;<a href="https://iga.in.gov/legislative/2019/bills/house/1015#document-e379226d">the $12 million projection</a>&nbsp;when lawmakers authorized it in 2019. New Hampshire's tax take of nearly $24 million from sports betting easily doubled its original projection for the 2022 fiscal year.

But not every state is banking as many bucks as projected from sports betting.

Legislative analysts in Montana, which allows sports bets only from online networks inside bars and casinos, had anticipated that $79 million of bets would be cast last fiscal year, generating $4.8 million of state tax revenue. The actual results were about half that — $2.4 million of state tax revenue from about $45 million of sports bets.

Connecticut received less than $20 million in sports betting taxes in the first 16 months since wagering began in October 2021. Legislative analysts had projected $21 million in its first full fiscal year.

Nationwide, legal sports betting has generated more than $3 billion in state and federal taxes since the 2018 Supreme Court ruling allowing it, according to the American Gaming Association. It's producing about three-quarters of what eventually could be expected from a fully mature market.

The debate about sports betting has shifted from "`Is this something we should consider?' to 'How should we go about doing this in a way that best serves our constituencies?’” said Casey Clark, the association's senior vice president.

The prospects for sports betting to expand into more states this year appear mixed.

A bill legalizing sports betting&nbsp;<a href="https://apnews.com/article/sports-gambling-legalized-betting-wagering-kentucky-8031ecb4f4568769eb4d22b6fc1201b6">passed the Kentucky House</a>&nbsp;and&nbsp;<a href="https://apnews.com/article/sports-gambling-legalized-betting-kentucky-legislature-5d51206d19c953e173c5036f92d9bb61">advanced Wednesday to the Senate</a>&nbsp;but still faces a high hurdle. Similar bills have died in the past in the Senate, and this year's version would a need three-fifths vote to pass.

Supporters also are taking another run at&nbsp;<a href="https://apnews.com/article/politics-sports-minnesota-state-government-business-72906b8d372a2e1b9c7da3bcfd5005e1">a sports betting bill in Minnesota</a>&nbsp;and various other states.

In Missouri, attempts to authorize sports betting have gotten bogged down in the Senate over whether to pair them with regulations on slot-machine-style games that have been popping up in convenience stores.

In Georgia,&nbsp;<a href="https://apnews.com/article/gambling-gaming-sports-betting-georgia-51ba7da58835cf3ae47bf3dc67eb9324">sports betting bills have stalled</a>&nbsp;amid debate about whether a constitutional amendment is needed, how to spend the potential tax revenue and whether to pair sports betting with the legalization of casinos and horse racing tracks.

The three most populous states — California, Texas and Florida — all currently lack online sports betting. The Seminole Tribe of Florida, which received exclusive state rights to run sports betting,&nbsp;<a href="https://apnews.com/article/sports-business-florida-district-of-columbia-sports-betting-c1eaff80b40aeea9d243abeb5d760e01">shut down its online app</a>&nbsp;in December 2021 after federal courts ruled it violated a rule requiring people to be physically present on tribal land when wagering.

After the most expensive ballot issue battle in U.S. history, California voters last November rejected a pair of&nbsp;<a href="https://apnews.com/article/2022-midterm-elections-technology-sports-business-california-7552c76ea151ba145e8c85ee7b277838">rival sports betting initiatives</a>&nbsp;backed by Native American tribes and the gambling industry. Supporters are likely to try again, though it's unclear when that might occur.

<figure>
 <img src="https://media.eaglewebservices.com/public/2023/3/1678989435605.png" alt="" />
 <figcaption></figcaption>
 </figure>By DAVID A. LIEB&nbsp;KANSAS CITY (AP) —The stakes are higher in Ohio this year for&nbsp;<a href="https://apnews.com/hub/march-madness">March Madness</a>&nbsp;— and not just because it's a regional host for the first round of the men's NCAA basketball tournament.For the first time, Ohio sports fans can click on a mobile app or tap into kiosks at bars, restaurants or grocery stores and legally bet on the famed tournament.<a href="https://apnews.com/article/sports-legislature-betting-dodge-city-3dd926041924c63c3cdbf4ba950b1d98">Kansas</a>,&nbsp;<a href="https://apnews.com/article/march-madness-sports-betting-addiction-mobile-massachusetts-2a82643a86d6d17a42a1e52c27215854">Massachusetts</a>&nbsp;and Maryland also are new additions to the world of online sports betting since the NCAA tournament last tipped off. A total of 33 states and the District of Columbia now offer at least some form of sports wagering — each scrambling for shares of a multibillion-dollar enterprise that has rapidly expanded after&nbsp;<a href="https://apnews.com/article/nv-state-wire-north-america-courts-supreme-courts-gambling-industry-f3fa1f71b8f44378a7e2c51d321b13b4">the U.S. Supreme Court allowed it</a>&nbsp;nearly five years ago.Ohio got off to a booming start when it launched sports betting in January. In its first month, Ohio bettors&nbsp;<a href="https://apnews.com/article/ohio-sports-betting-gambling-acedf48f0a29188936c9f95a16d4ca7a">wagered more than $1.1 billion</a>, generating more than $20 million in state tax revenue. That nearly tripled the revenue amount that legislative analysts had projected for the entire first six months of operation. But no one's blaming them for missing the mark.“They couldn’t know how big of a market we were going to have on day one,” said Jessica Franks, communications director at the Ohio Casino Control Commission.Whereas some states started with limited in-person sports betting and gradually added mobile apps, Ohio began more aggressively — simultaneously launching numerous mobile options and retail locations. Republican Gov. Mike DeWine is now proposing to double the tax rate on sports betting.<a href="https://apnews.com/article/d09a306184914ed28c402251176cec8d">New York began allowing sports betting</a>&nbsp;in 2019, but only in person at four upstate casinos, limiting the market. Betting boomed when the state began allowing people to make sports bets through cell phones and computers in January 2022. In the first month,&nbsp;<a href="https://apnews.com/article/sports-business-football-new-york-new-jersey-5dd240f1375493c5c08066ec74034890">more than $1.6 billion was wagered</a>&nbsp;through online sports betting, compared to just $15 million through in-person sports bets at casinos.New York charges a 51% tax on revenue from mobile sports betting — a far higher rate than other states — with most revenue going to education. Budget officials originally projected that mobile sports betting would generate $357 million in state tax revenue for the 2023 fiscal year, which ends March 31. Bettors have blown that away. Through February, mobile sports betting had&nbsp;<a href="https://www.gaming.ny.gov/pdf/mobile/Monthly%20Mobile%20Sports%20Wagering%20Report%20Statewide.pdf">generated $661 million of tax revenue</a>&nbsp;for education.State Sen. Joseph Addabbo Jr., who advocated for sports betting as chair of the Senate Racing, Gaming and Wagering Committee, said even he is amazed at the results.“There is an appetite, certainly, to do sports betting with a mobile device," Addabbo said.New York and Ohio both have large populations and multiple professional sports teams to help drive interest in sports betting.Arkansas, a much smaller state without major league sports teams, began in-person sports betting at casinos in July 2019. Things really took off last year when it launched mobile sports betting. State figures show nearly $3 million was wagered on this year's Super Bowl — more than three times the annual amount before mobile betting was allowed.State officials expect people from neighboring states to cross into Arkansas to bet on March Madness.“We will be surprised if March doesn’t set a new monthly record for sports betting in the state,” said Scott Hardin, spokesperson for the Arkansas Department of Finance and Administration.Other states also have exceeded expectations for sports betting revenues.Indiana's sports wagering taxes topped $31 million in the 2022 fiscal year — well more than&nbsp;<a href="https://iga.in.gov/legislative/2019/bills/house/1015#document-e379226d">the $12 million projection</a>&nbsp;when lawmakers authorized it in 2019. New Hampshire's tax take of nearly $24 million from sports betting easily doubled its original projection for the 2022 fiscal year.But not every state is banking as many bucks as projected from sports betting.Legislative analysts in Montana, which allows sports bets only from online networks inside bars and casinos, had anticipated that $79 million of bets would be cast last fiscal year, generating $4.8 million of state tax revenue. The actual results were about half that — $2.4 million of state tax revenue from about $45 million of sports bets.Connecticut received less than $20 million in sports betting taxes in the first 16 months since wagering began in October 2021. Legislative analysts had projected $21 million in its first full fiscal year.Nationwide, legal sports betting has generated more than $3 billion in state and federal taxes since the 2018 Supreme Court ruling allowing it, according to the American Gaming Association. It's producing about three-quarters of what eventually could be expected from a fully mature market.The debate about sports betting has shifted from "`Is this something we should consider?' to 'How should we go about doing this in a way that best serves our constituencies?’” said Casey Clark, the association's senior vice president.The prospects for sports betting to expand into more states this year appear mixed.A bill legalizing sports betting&nbsp;<a href="https://apnews.com/article/sports-gambling-legalized-betting-wagering-kentucky-8031ecb4f4568769eb4d22b6fc1201b6">passed the Kentucky House</a>&nbsp;and&nbsp;<a href="https://apnews.com/article/sports-gambling-legalized-betting-kentucky-legislature-5d51206d19c953e173c5036f92d9bb61">advanced Wednesday to the Senate</a>&nbsp;but still faces a high hurdle. Similar bills have died in the past in the Senate, and this year's version would a need three-fifths vote to pass.Supporters also are taking another run at&nbsp;<a href="https://apnews.com/article/politics-sports-minnesota-state-government-business-72906b8d372a2e1b9c7da3bcfd5005e1">a sports betting bill in Minnesota</a>&nbsp;and various other states.In Missouri, attempts to authorize sports betting have gotten bogged down in the Senate over whether to pair them with regulations on slot-machine-style games that have been popping up in convenience stores.In Georgia,&nbsp;<a href="https://apnews.com/article/gambling-gaming-sports-betting-georgia-51ba7da58835cf3ae47bf3dc67eb9324">sports betting bills have stalled</a>&nbsp;amid debate about whether a constitutional amendment is needed, how to spend the potential tax revenue and whether to pair sports betting with the legalization of casinos and horse racing tracks.The three most populous states — California, Texas and Florida — all currently lack online sports betting. The Seminole Tribe of Florida, which received exclusive state rights to run sports betting,&nbsp;<a href="https://apnews.com/article/sports-business-florida-district-of-columbia-sports-betting-c1eaff80b40aeea9d243abeb5d760e01">shut down its online app</a>&nbsp;in December 2021 after federal courts ruled it violated a rule requiring people to be physically present on tribal land when wagering.After the most expensive ballot issue battle in U.S. history, California voters last November rejected a pair of&nbsp;<a href="https://apnews.com/article/2022-midterm-elections-technology-sports-business-california-7552c76ea151ba145e8c85ee7b277838">rival sports betting initiatives</a>&nbsp;backed by Native American tribes and the gambling industry. Supporters are likely to try again, though it's unclear when that might occur.

Mobile sports bets booming in some states as others shy away

By JOSH FUNK Associated Press

OMAHA,
 Neb. (AP) — A mining company that wants to extract a collection of rare
 elements from beneath southeast Nebraska raised funds Wednesday toward 
its goal of finding the $1.1 billion it needs to build the mine that has
 been in the works for decades.

Shareholders of a special purpose 
acquisition company called GX Acquisition Corp. II overwhelmingly 
approved merging with NioCorp, a Centennial, Colorado-based mining 
company, according to a regulatory filing. About $15 million from the 
deal will go to NioCorp, the company said.

The GXII deal involves one of the risky shell companies once popular on Wall Street before <a href="https://apnews.com/article/business-initial-public-offerings-ab35dc239220860c608daa7a4e574d5f">many fell out of favor</a>
 and had to be liquidated before they ever completed a deal. The SPACs, 
as they are known, are essentially companies created solely to merge 
with another business to invest in it.

NioCorp shareholders also approved an $81 million financing deal with Yorkville Advisors Global last week.

But
 the mine the company hopes to build about 80 miles (130 kilometers) 
south of Omaha near the town of Elk Creek could get an even bigger boost
 later this year. <a href="https://apnews.com/article/bbc1592772c94748adeebdbfde3c05df">The Export-Import Bank of the United States</a>
 recently issued a formal "letter of interest" saying that NioCorp may 
qualify for up to $800 million in financing. If that comes through after
 the bank conducts a detailed review of the project, NioCorp would have 
enough cash to build the mine.

First the project will have to 
undergo at least six to nine months of review by the bank. The letter 
from the Export-Import Bank is just a preliminary step, but it has 
NioCorp officials extremely optimistic.

“It’s unbelievably 
exciting. Sleep is a little hard to come by for our team right now,” 
NioCorp CEO Mark Smith said. “We see what’s happening and this project 
is actually going to happen.”

NioCorp has raised more than $80 
million since 2013 to explore the site, but development of the project 
dates back to the 1970s when a different company first started drilling 
samples. The proposed mine is expected to create over 400 jobs if it is 
built.

The <a href="https://apnews.com/article/joe-biden-business-united-states-environment-nebraska-6f820e066c12ad04853fc832e674a33e">main element NioCorp plans to produce</a>
 is a heat-resistant element called niobium, which is used to make steel
 lighter and stronger. The mine could also produce scandium that can be 
used to make aluminum stronger and titanium that would be used in paint 
production. The company has said analysis of samples from the site shows
 there is also a significant amount of rare earth elements used in a 
variety of high-tech products that are primarily produced in China. But 
it’s not yet clear whether it will be economically feasible to mine 
those rare earth elements that President Joe Biden wants to see more of 
produced domestically.

The letter the bank issued to NioCorp is 
one of the first given to a U.S. project since the Export-Import Bank 
decided last year — in response a Biden executive order — to expand 
funding to domestic projects proposed by companies planning to export 
their products. A bank spokeswoman said NioCorp operates in an industry 
the bank is eager to support because so few critical minerals are 
produced in the United States.

NioCorp officials say getting 
funding from the bank, which is run by the government under 
congressional authorization, would help level the playing field with 
Chinese companies that are heavily subsidized by their government. The 
Export-Import Bank would likely offer better terms than commercial 
banks, but NioCorp continues to talk with other banks.

<figure>
 <img src="https://media.eaglewebservices.com/public/2023/3/1678987339106.jpeg" alt="NioCorp CEO Mark Smith talks to a group of investors Oct. 6, 2021, about the prospects for a proposed mine the company hopes to build near Elk Creek in southeast Nebraska. (AP Photo/Josh Funk)" />
 <figcaption>NioCorp CEO Mark Smith talks to a group of investors Oct. 6, 2021, about the prospects for a proposed mine the company hopes to build near Elk Creek in southeast Nebraska. (AP Photo/Josh Funk)</figcaption>
 </figure>By JOSH FUNK Associated PressOMAHA,
 Neb. (AP) — A mining company that wants to extract a collection of rare
 elements from beneath southeast Nebraska raised funds Wednesday toward 
its goal of finding the $1.1 billion it needs to build the mine that has
 been in the works for decades.Shareholders of a special purpose 
acquisition company called GX Acquisition Corp. II overwhelmingly 
approved merging with NioCorp, a Centennial, Colorado-based mining 
company, according to a regulatory filing. About $15 million from the 
deal will go to NioCorp, the company said.The GXII deal involves one of the risky shell companies once popular on Wall Street before <a href="https://apnews.com/article/business-initial-public-offerings-ab35dc239220860c608daa7a4e574d5f">many fell out of favor</a>
 and had to be liquidated before they ever completed a deal. The SPACs, 
as they are known, are essentially companies created solely to merge 
with another business to invest in it.NioCorp shareholders also approved an $81 million financing deal with Yorkville Advisors Global last week.But
 the mine the company hopes to build about 80 miles (130 kilometers) 
south of Omaha near the town of Elk Creek could get an even bigger boost
 later this year. <a href="https://apnews.com/article/bbc1592772c94748adeebdbfde3c05df">The Export-Import Bank of the United States</a>
 recently issued a formal "letter of interest" saying that NioCorp may 
qualify for up to $800 million in financing. If that comes through after
 the bank conducts a detailed review of the project, NioCorp would have 
enough cash to build the mine.First the project will have to 
undergo at least six to nine months of review by the bank. The letter 
from the Export-Import Bank is just a preliminary step, but it has 
NioCorp officials extremely optimistic.“It’s unbelievably 
exciting. Sleep is a little hard to come by for our team right now,” 
NioCorp CEO Mark Smith said. “We see what’s happening and this project 
is actually going to happen.”NioCorp has raised more than $80 
million since 2013 to explore the site, but development of the project 
dates back to the 1970s when a different company first started drilling 
samples. The proposed mine is expected to create over 400 jobs if it is 
built.The <a href="https://apnews.com/article/joe-biden-business-united-states-environment-nebraska-6f820e066c12ad04853fc832e674a33e">main element NioCorp plans to produce</a>
 is a heat-resistant element called niobium, which is used to make steel
 lighter and stronger. The mine could also produce scandium that can be 
used to make aluminum stronger and titanium that would be used in paint 
production. The company has said analysis of samples from the site shows
 there is also a significant amount of rare earth elements used in a 
variety of high-tech products that are primarily produced in China. But 
it’s not yet clear whether it will be economically feasible to mine 
those rare earth elements that President Joe Biden wants to see more of 
produced domestically.The letter the bank issued to NioCorp is 
one of the first given to a U.S. project since the Export-Import Bank 
decided last year — in response a Biden executive order — to expand 
funding to domestic projects proposed by companies planning to export 
their products. A bank spokeswoman said NioCorp operates in an industry 
the bank is eager to support because so few critical minerals are 
produced in the United States.NioCorp officials say getting 
funding from the bank, which is run by the government under 
congressional authorization, would help level the playing field with 
Chinese companies that are heavily subsidized by their government. The 
Export-Import Bank would likely offer better terms than commercial 
banks, but NioCorp continues to talk with other banks.

Company gets a bit closer to raising $1.1B it needs for Neb. mine

By AARON SANDERFORD <a href="https://nebraskaexaminer.com/2023/03/15/nebraska-state-senator-proposes-12-week-abortion-ban-instead-of-cardiac-activity-ban/">Nebraska Examiner</a>

LINCOLN — The path to passage for a 
proposed ban on Nebraska abortions after an ultrasound detects cardiac 
activity ran into a Ralston-sized roadblock on Wednesday.

Ralston State Sen. Merve Riepe, a 
former hospital administrator who supported previous efforts to restrict
 abortion, proposed amending the restriction in Legislative Bill 626 to 
instead make abortions illegal <a target="_blank" href="https://nebraskalegislature.gov/FloorDocs/108/PDF/AM/AM626.pdf">after 12 weeks</a>.&nbsp;

He said he and other senators who 
oppose abortion but prefer a “measured approach” want to discuss an 
alternative to the “heartbeat bill,” which sponsors have said would 
essentially ban abortions after about six weeks of gestation.

“I wish we would’ve had the debate 
before things got introduced, but we didn’t,” he said. “Sometimes you’ve
 got to do what it takes when something deserves a discussion.”

Riepe said he filed the amendment and
 walked over to explain his reasons for filing it to State Sen. Joni 
Albrecht of Thurston, who sponsored LB 626. Riepe was a co-sponsor of 
the more restrictive bill.

Riepe said the “six-week ban is 
tantamount to a total ban,” which many of his constituents oppose, he 
said. His comments echoed the views of most of the doctors who <a href="https://nebraskaexaminer.com/2023/02/01/cardiac-activity-abortion-ban-bill-draws-hundreds-to-nebraska-capitol/">testified against LB 626</a> in a public hearing.

<figure>
 <img src="https://media.eaglewebservices.com/public/2023/3/1678987115961.png" alt="State Sen. Merv Riepe of Ralston talks with legislative staff on the floor of the Nebraska Legislature on Wednesday, March 15, 2023, in Lincoln, Neb. (Zach Wendling/Nebraska Examiner)" />
 <figcaption>State Sen. Merv Riepe of Ralston talks with legislative staff on the floor of the Nebraska Legislature on Wednesday, March 15, 2023, in Lincoln, Neb. (Zach Wendling/Nebraska Examiner)</figcaption>
 </figure>By AARON SANDERFORD <a href="https://nebraskaexaminer.com/2023/03/15/nebraska-state-senator-proposes-12-week-abortion-ban-instead-of-cardiac-activity-ban/">Nebraska Examiner</a>LINCOLN — The path to passage for a 
proposed ban on Nebraska abortions after an ultrasound detects cardiac 
activity ran into a Ralston-sized roadblock on Wednesday.Ralston State Sen. Merve Riepe, a 
former hospital administrator who supported previous efforts to restrict
 abortion, proposed amending the restriction in Legislative Bill 626 to 
instead make abortions illegal <a target="_blank" href="https://nebraskalegislature.gov/FloorDocs/108/PDF/AM/AM626.pdf">after 12 weeks</a>.&nbsp;He said he and other senators who 
oppose abortion but prefer a “measured approach” want to discuss an 
alternative to the “heartbeat bill,” which sponsors have said would 
essentially ban abortions after about six weeks of gestation.“I wish we would’ve had the debate 
before things got introduced, but we didn’t,” he said. “Sometimes you’ve
 got to do what it takes when something deserves a discussion.”Riepe said he filed the amendment and
 walked over to explain his reasons for filing it to State Sen. Joni 
Albrecht of Thurston, who sponsored LB 626. Riepe was a co-sponsor of 
the more restrictive bill.Riepe said the “six-week ban is 
tantamount to a total ban,” which many of his constituents oppose, he 
said. His comments echoed the views of most of the doctors who <a href="https://nebraskaexaminer.com/2023/02/01/cardiac-activity-abortion-ban-bill-draws-hundreds-to-nebraska-capitol/">testified against LB 626</a> in a public hearing.Riepe said that he doesn’t like 
surprises and that he didn’t like surprising anyone with his amendment. 
But, he said, he was surprised when LB 626 was introduced instead of a 
12-week ban.<h2>Albrecht disappointed</h2>Albrecht told him Wednesday she was 
disappointed by his amendment. She told reporters that losing Riepe’s 
vote for cloture might put the bill at risk of falling to a filibuster 
from abortion rights advocates.The bill needs 33 votes to overcome a
 filibuster. Albrecht said she has just enough support to get the bill 
over the line, but a single supporter’s departure could stall it.She said Riepe’s 12-week ban “is not 
acceptable to myself or the other 32 (supporters).” She argued that her 
bill is “not about a ban.”“It’s sad,” she said, adding that his amendment has created confusion about whether he will ultimately <a href="https://nebraskaexaminer.com/2023/01/11/nebraska-anti-abortion-senators-proposing-heartbeat-bill/">vote for the bill or not</a>.Riepe said he has no problem being the 33rd
 vote to get LB 626 past the first round of debate. But he wants “a full
 and fair debate” on his amendment in the second round of debate, he 
said.&nbsp;<figure>
 <img src="https://media.eaglewebservices.com/public/2023/3/1678987203022.jpeg" alt="State Sen. Joni Albrecht of Thurston (Unicameral Information Office/Unicameral Update)" />
 <figcaption>State Sen. Joni Albrecht of Thurston (Unicameral Information Office/Unicameral Update)</figcaption>
 </figure>Riepe said he has no problem being the 33rd
 vote to get LB 626 past the first round of debate. But he wants “a full
 and fair debate” on his amendment in the second round of debate, he 
said.&nbsp;<figure>
 <img src="https://nebraskaexaminer.com/wp-content/uploads/2023/01/dist17_02-200x300.jpg" alt="" />
 <figcaption></figcaption>
 </figure>
 State Sen. Joni Albrecht of Thurston speaks during debate in the 
Nebraska Legislature. (Unicameral Information Office/Unicameral Update)Riepe said he knows this is going to 
turn people against him, but he said the discussion is worth having, 
even if it means he has to “get a dog so I can have a friend.”<h2>Senators had discussed 12 weeks</h2>Anti-abortion groups including 
Nebraska Right to Life and the Nebraska Family Alliance have argued that
 Nebraska should ban abortion outright. The state currently bans 
abortions after 20 weeks.In the last legislative session, 
senators fell two votes short of passing a bill put forward by Albrecht 
and then-Sen. Mike Flood to ban abortion in Nebraska if Roe v. Wade was 
overturned.After the U.S. Supreme Court took 
that step in June and sent the decision back to the states, Riepe said 
he gladly signed onto a letter last summer by then-Speaker of the 
Legislature Mike Hilgers to support a 12-week ban in a special session, 
but supporters couldn’t find the 33 senators needed.He said he was surprised to see the 
new legislation come back using cardiac activity as the standard, 
because that usually occurs around six weeks of gestational age.Riepe said he has heard from doctors 
and constituents that most women won’t know they are pregnant in time to
 make an ultrasound appointment, let alone decide.He worries that women who want to terminate their pregnancies might try to induce their own abortions or harm themselves.He said he also worries that LB 626 
will encourage women who miss the cardiac deadline to accuse a partner 
of sexual assault, which could lead to criminal investigations and 
charges.<h2>All sides watching</h2>Andi Curry Grubb of Planned 
Parenthood of Nebraska said her group is not celebrating Riepe’s 
amendment, because it still restricts a woman’s ability to exercise 
autonomy over her body.Grubb said state senators who oppose 
abortion are figuring out that Nebraskans don’t want them to pass a bill
 “as extreme as LB 626.” And women and their allies need to keep 
working.“It’s interesting that there is 
someone who is this conservative and has been so conservative … that he 
would be the one raising these questions,” Grubb said.“The outlook on this bill has changed
 literally every day for the last three weeks,” she said. “We cannot 
relax until the bill is defeated.”Anti-abortion activists huddled Wednesday to figure out a way forward.Nate Grasz of the Nebraska Family 
Alliance and Sandy Danek of Nebraska Right to Life said their 
organizations oppose Riepe’s amendment.“This amendment will cost 1,700 lives,” Grasz said.&nbsp;Danek said LB 626 would stop more 
than 2,000 abortions a year, based on 2021 statistics compiled by the 
Nebraska Department of Health and Human Services. About 300 abortions a 
year in Nebraska are performed after 12 weeks.Nebraska Examiner senior reporter Paul Hammel contributed to this report.