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Credit Suisse deal averted crisis, Swiss central bank says

Published Tue, 25 Feb 2025 20:31:55 GMT

GENEVA (AP) — The Swiss central bank hiked its key interest rate Thursday and insisted that a government-orchestrated takeover of troubled Credit Suisse by rival bank UBS ended the financial turmoil.In a statement, the Swiss National Bank said it is providing large amounts of support for the deal to merge Switzerland’s biggest banks and that the late Sunday announcement by the federal government, financial regulators and the central bank “put a halt to the crisis.”“An insolvency of Credit Suisse would have had severe consequences for national and international financial stability and for the Swiss economy,” said Thomas Jordan, chairman of the Swiss central bank’s governing board. “Taking this risk would have been irresponsible.”The hastily arranged, $3.25 billion deal aimed to stem the upheaval in the global financial system after the collapse of two U.S. banks and jitters about long-running troubles at Credit Suisse led shares of Switzerland’s second-largest bank to tan...

18-year-old man charged in crash that killed elderly woman, injured family members on North Side

Published Tue, 25 Feb 2025 20:31:55 GMT

CHICAGO — An 18-year-old man is charged in a crash that killed a 78-year-old woman and injured five of her family members on the city’s North Side.Kurell Purnell faces one felony count of reckless homicide/motor vehicle, three felony counts of aggravated reckless driving/bodily harm and one citation of fail right-of-way/intersection.The crash happened around 8 p.m. Tuesday at the intersection of Peterson and Kimball. Police said Purnell struck a vehicle, causing the death of a 78-year-old woman and injuring several others — including two children.Zainab Suboh, 78 (family photo)The woman was transported to St. Francis Hospital, where she was pronounced dead. The medical examiner has identified her as Zainab Suboh. 78-year-old woman killed, 5 family members injured in North Side car crash Purnell was arrested nearly three hours later after he was identified as the person responsible for the fatal crash.He is due in bond court Thursday.

39-year-old man shot while driving on South Side

Published Tue, 25 Feb 2025 20:31:55 GMT

CHICAGO — A man was shot early Thursday on the South Side by three other men firing shots from a sidewalk, police said.At around 3:20 a.m., police responded to the 8100 block of South Ashland on the report of a shooting.Police said a 39-year-old man was driving southbound on Ashland when three men fired shots from the sidewalk. The man sustained multiple gunshot wounds and was transported to an area hospital in serious condition. Suburban man charged in DUI crash that killed elderly woman No one is in custody. Anyone with information can leave an anonymous tip at cpdtip.com.

IL Secretary of State to award law enforcement $21M to combat carjacking

Published Tue, 25 Feb 2025 20:31:55 GMT

CHICAGO — Car thefts and car jackings continue to trend in the wrong direction with its steady rise. Secretary of State Alexi Giannolas will award law enforcement in Illinois 21 million dollars to help turn that trend around. Car thefts and carjackings continue to be a problem nationwide with its initial peak at the beginning of the pandemic. Earlier this month, using statistics collection by the National Insurance Crime Bureau, the Chicago Tribune reported auto thefts in Chicago is up 55 percent in 2022 compared to the year before, making Chicago the top city of car thefts last year. Police: 21-year-old Navy sailor missing in Waukegan Chicago police have been making progress in slowing the number of thefts and jackings by deploying carjacking teams but still continues to be a problem.It is unknown how much Chicago will get out of the 21 million or exactly what it will go to, all questions that should be answered at the press conference Thursday morning. This past week the state ...

GM to stop making the Camaro, but a successor may be in works

Published Tue, 25 Feb 2025 20:31:55 GMT

DETROIT (AP) — The Chevrolet Camaro, for decades the dream car of many teenage American males, is going out of production.General Motors, which sells the brawny muscle car, said Wednesday it will stop making the current generation early next year.The future of the car, which is raced on NASCAR and other circuits, is a bit murky. GM says another generation may be in the works.“While we are not announcing an immediate successor today, rest assured, this is not the end of Camaro's story,” Scott Bell, vice president of Chevrolet, said in a statement. Fox News reporter hugs son on camera as he leaves site of Denver school shooting The current sixth-generation Camaro, introduced in 2016, has done well on the racetrack, but sales have been tailing off in recent years. When the current generation Camaro came out in 2016, Chevrolet sold 72,705 of them. But by the end of 2021 that number fell almost 70% to 21,893. It rebounded a bit last year to 24,652.GM said last of the 2024 mod...

Disney's planned job layoffs could begin late this month: report

Published Tue, 25 Feb 2025 20:31:55 GMT

(KTLA) -- The Walt Disney Company's planned job cuts could begin in late March, Deadline reported Tuesday.Disney CEO Bob Iger announced on Feb. 8, that 7,000 jobs, representing around 3% of the company’s workforce, would be slashed. The reduction comes as Disney enacts a companywide plan to reduce costs by $5.5 billion.All company divisions, including theme parks, are expected to be impacted by the planned labor reduction. The company’s theme park division includes the Disneyland Resort; Walt Disney World in Orlando, Florida; Disney cruise lines, and its international parks.Officials haven’t specified which Disney theme parks would be affected by the job cuts. Disney workforce cuts to affect all company divisions, including theme parks Sources told Deadline that the first round of job cuts could begin on March 30 or March 31, but neither date has been confirmed. The publication was also told that another wave of job cuts would happen in late April.The April job cut wave was descri...

Neighbors worry about abandoned dogs outside Austin city limits

Published Tue, 25 Feb 2025 20:31:55 GMT

AUSTIN (KXAN) -- On Kevin Garinger's roughly four-acre property, just southeast of the Austin City Limits, his two rescue dogs have free rein of about an acre of fenced-in land. Outside the fence line, he said he often finds other dogs looking for food or a friendly face.“That usually ends up being me,” he said.He reached out to KXAN after seeing what feels to him like a spike in the number of animals running loose. He described seeing Nextdoor or Facebook posts from his neighbors about it, too. BACKGROUND: Austin Animal Center restricts animal intake due to overcapacity issues “Definitely every day, but sometimes more often than that,” he said.Garinger knows a few of them are neighborhood dogs who have wandered away from home, but he believes many could be people’s pets who have been “dumped” or abandoned in his neighborhood because it’s rural and remote.“They get confused, and they don't know where they are or what's happening,” he said.Rebekha Montie, the Field Services manager...

Is Elon Musk planning town east of Austin? The answer's complicated

Published Tue, 25 Feb 2025 20:31:55 GMT

BASTROP COUNTY, Texas (Austin Business Journal) -- The Wall Street Journal caused a stir earlier this month when it reported that Elon Musk — the billionaire CEO of Tesla, SpaceX, The Boring Co. and other businesses — is planning to create his own town east of Austin. But things don't appear to be so clear cut. Report: Elon Musk plans to build his own town in Texas Citing anonymous sources "familiar with the project," the WSJ reported March 9 that Musk aimed to create the town in Bastrop County, near burgeoning industrial sites for SpaceX, which builds rockets, and Boring Company, a tunneling startup. In meetings with landowners and real estate agents, Musk and employees of his companies "have described his vision as a sort of Texas utopia along the Colorado River," according to WSJ.However, many who live in the area are skeptical of those claims and wonder whether they will ever come to fruition. No Musk company has submitted an application to actually incorporate a city in Bastr...

March 23 is World Meteorological Day

Published Tue, 25 Feb 2025 20:31:55 GMT

AUSTIN (KXAN) -- We rely on them for information to handle everything from long-term climate change to immediate life-saving decisions. March 23 is a day set aside to honor the world's meteorologists. According to National Today.com, March 23 marks the anniversary of the day the International Meteorological Organization (IMO) became the World Meteorological Organization (WMO). 2023 marks the 150th year for the WMO and its predessor IMO.

Restaurant lineup for 'Take a Bite of Montgomery'

Published Tue, 25 Feb 2025 20:31:55 GMT

FONDA, N.Y. (NEWS10) -- Montgomery County Tourism is holding a restaurant week called "Take a Bite of Montgomery." Restaurants, bakeries and other eateries throughout Montgomery County will offering specials from March 27 through April 2. Get the latest, news, weather, sports and community events delivered right to your inbox! While visiting a restaurant, you can snap a photo and post it on social media using #MontgomeryCountyEats to enter for a chance to win a prize. You can do this for each location you visit to be entered multiple times. You can also send your pictures to [email protected] restaurantsBosco's Family Restaurant and Bar , 165 Division Street, AmsterdamThe Bridge Street Diner, 10 Bridge Street, Suite 1, St. JohnsvilleEisenadler Brauhaus, 88 East Main Street, NellistonErie Station Bar & Grill, 7 Canal Street, Fort PlainEuropa Cafe, 319 Forest Avenue, AmsterdamGreenView Restaurant, 152 Golf Club Road, CanajoharieHighwheeler Coffee, 84 Cana...