VOLUME 9 ISSUE 8
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WWW.NSJONLINE.COM
WEDNESDAY, APRIL 17, 2024
the
BRIEF this week
Bank of America 1Q profits fall 18% New York Bank of America said its first-quarter profits fell 18% as the bank dealt with rising expenses due to the impact of higher interest rates. But the results beat analysts’ estimates. The Charlottebased bank posted a profit of $6.67 billion, or 76 cents per share, compared with $8.2 billion, or 94 cents a share, in the same period a year earlier. BofA had to make a one-time $700 million payment to the Federal Deposit Insurance Corp. to help the agency replenish the deposit insurance fund. Excluding that one-time charge, the bank earned 83 cents per share. Bank of America has been dealing with the effects of higher interest rates on its loan and investment portfolio for the past year. The bank bought a sizable number of bonds during the pandemic when rates were low, and those bonds have lost value as interest rates have risen. The bank is also paying more on deposits, which has caused its profits to be squeezed slightly. The bank’s net interest yield, which is a measure of how much the bank is earning on the loans it has versus the interest it needs to pay out to depositors, dropped from 2.20% in 2023 to 1.99% in 2024. In BofA’s consumer banking division, its largest by revenue and profits, revenue fell by 5% to $10.2 billion.
JARED LAZARUS / DUKE UNIVERSITY
Chizuko Sueyoshi, leader of the Japanese Tea Practitioners of Durham, welcomes Yuko Kishida, first lady of Japan and Kristin Cooper, first lady of North Carolina, to a traditional Japanese tea gathering at Sarah P. Duke Gardens last Friday in Durham.
Japanese PM’s visit to NC makes history Over 200 Japanese companies have now set up shop in the state and employ more than 30,000 people By Makira Seminera The Associated Press
Hush money poll: Third of U.S. adults think Trump acted illegally Washington, D.C. A poll shows the first criminal trial facing former President Donald Trump is also the one in which Americans are least convinced he committed a crime. The AP-NORC Center for Public Affairs Research poll finds only about one-third of U.S. adults think Trump did something illegal in the hush money case for which jury selection began Monday. Close to half think the Republican ex-president did something illegal in the other three criminal cases pending against him. About half of Americans would consider Trump unfit to serve as president if he’s convicted of falsifying business documents to hide hush money payments to porn actor Stormy Daniels. Trump has pleaded not guilty and denies any extramarital sexual encounter with Daniels.
NC Supreme Court case could affect voter fraud claims Only five justices, all Republican, heard the case after two Democratic justices recused themselves By Makiya Seminera The Associated Press RALEIGH — An attorney representing voters accused of fraud in the 2016 election warned the state’s highest court that their eventual decision could allow political operatives to make voter fraud allegations without consequence — but the justices had several questions. The North Carolina Supreme Court heard oral arguments last Thursday for Bouvier v. Porter — a civil suit centered around four voters from Guilford and Brunswick counties who allege they were defamed by supporters of former Gov. Pat McCrory after the 2016 election. The panel of five justices considering the case were all Republicans after the court’s two Democrats recused themselves for previously representing the plaintiffs.
Both sides underwent a barrage of questioning from the judges panel during the 50-minute hearing, although most inquiries — and sometimes outright disagreements — fell on the plaintiffs. As is usual, the court didn’t immediately rule. It’s not clear if the case, which discusses voter fraud allegations, will be decided before the 2024 election, according to plaintiff attorney Jeff Loperfido. The decision will not determine if the plaintiffs were defamed but rather whether the defendants had certain immunities to make their claims. Soon after what became a narrow win for Democratic Gov. Roy Cooper in 2016, supporters of his opponent, the incumbent McCrory, filed election protest petitions declaring voting irregularities had occurred, including accusations from Greensboro Republican official William Porter. The petitions, which were also filed in Brunswick County, alleged the plaintiffs had voted twice, according to their 2017 lawsuit. See VOTING, page A3
KARL DEBLAKER / AP PHOTO
State Supreme Court justice Trey Allen, pictured in 2002 second from right, was one of five to hear arguments on a case involving election fraud.
RALEIGH — Japanese Prime Minister Fumio Kishida cemented economic links and cultural amity with North Carolina on Friday, following up time in Washington, D.C., during his official U.S. visit by coming to a state that has become a key business partner for the East Asian nation. Kishida lunched at the governor’s mansion in Raleigh, a historic first for the head of a foreign country in the Tarheel State. Japan is North Carolina’s largest source of foreign direct investment, where more than 200 Japanese companies have now set up shop, employing over 30,000 people, according to Democratic Gov. Roy Cooper and his office. “I am honored to be here in North Carolina to showcase the multilayered and strong ties between Japan and the United States,” Kishida said through a translator inside the mansion ballroom, where about 60 people dined from a
menu created by award-winning N.C. chef Ashley Christensen. Before the visit to North Carolina, Kishida’s trip to the U.S. had been focused on global safety. He met President Joe Biden to discuss security concerns about China’s military, participated in the first trilateral summit between the U.S., Japan and the Philippines, and made the case in an address to a joint session of Congress for the U.S. to remain involved in global security. But Kishida, who has been Japan’s prime minister since 2021, said before his trip that he chose to stop in North Carolina to show that the Japan-U.S. partnership extends beyond Washington, according to a translation posted on his website. Honorary Consul for Japan in North Carolina David Robinson called the visit “incredibly successful,” noting it was “the first sitting head of state to visit the governor’s mansion ever.” “The last sitting head of state that visited NC State was 1954 — 70 years ago. So the fact that he came at all was historic,” said Robinson, adding that 50 members of the Japanese press accompanied See JAPAN, page A8
Stein says state rape kit backlog cleared N.C. was No. 1 in the nation for untested kits with more than 16,000 in a 2019 audit By A.P. Dillon North State Journal RALEIGH — Flanked by more than two dozen law enforcement officials, former lawmakers and victim advocates, North Carolina Attorney General Josh Stein announced last Tuesday that the State Crime Lab has cleared the state’s rape kit backlog. “Today is a great day: North Carolina has ended the rape kit backlog,” said Stein. “I am incredibly proud of the bipartisan and collaborative effort that produced this achievement — Republican and Democratic legislators, district attorneys and law enforcement officers all played a critical role in ending the backlog.”
Stein also thanked the scientists at the State Crime Lab (SCL) who have “worked countless hours to get these kits tested,” as well as victims for resubmitting evidence to bring their offenders to justice. Several solved cases were mentioned during the press conference, which featured remarks by a sexual assault survivor named “Linda.” “I knew the value of DNA and prayed for DNA evidence to be found on my body,” she said, adding “The kits give the victim a voice.” See STEIN, page A2
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