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Heavily indebted Chinese developer proposes restructuring

Published Mon, 24 Feb 2025 01:19:44 GMT

BEIJING (AP) — A Chinese real estate developer whose struggle to manage more than $300 billion in debt rattled global financial markets announced a long-awaited plan Thursday to restructure what it owes to foreign bondholders.The Evergrande Group, the global real estate industry’s most heavily indebted company, ran short of cash after Beijing tightened controls on corporate debt the ruling Communist Party worries is dangerously high. Some other Chinese developers collapsed, leaving half-finished apartment blocks standing empty.Evergrande’s struggle prompted fears about possible shockwaves for the global financial system. The Chinese central bank tried to reassure investors, saying its problems could be controlled and were unlikely to spill over.A deputy central bank governor, Pan Gongsheng, said this month the real estate industry finally was recovering following a wave of defaults. Pan said financing conditions for healthy developers had “improved significantly.”Evergrande’s ...

Credit Suisse deal halted crisis, Swiss national bank says

Published Mon, 24 Feb 2025 01:19:44 GMT

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’s providing large amounts of support in Swiss francs and foreign currencies and that the Sunday announcement by the federal government, financial regulators and the central bank “put a halt to the crisis.”The hastily arranged, $3.25 billion deal aimed to stem the turmoil 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 tank and customers to pull deposits.Swiss authorities urged UBS to take over its smaller rival after the central bank’s plan for Credit Suisse to borrow up to 50 billion francs ($54 billion) last week failed to reassure investors and customers. To support the deal, the Swiss central bank says it&#...

UK central bank may hike rates after big jump in food prices

Published Mon, 24 Feb 2025 01:19:44 GMT

LONDON (AP) — Something unexpected may force the Bank of England to approve an 11th consecutive interest rate increase Thursday: a shortage of fresh vegetables.The scramble for peppers, cucumbers and spinach last month helped push inflation to 10.4% in February, surprising analysts who expected prices to drop into single digits for the first time in seven months.Before the numbers were released Wednesday, many economists suggested the Bank of England would keep rates on hold. That’s because of concern about turmoil in the global financial system following the collapse of two U.S. banks and the ensuing troubles at Switzerland’s Credit Suisse, which forced a hastily arranged takeover by rival UBS. But the unexpected jump in prices in the United Kingdom refocused attention on stubbornly high inflation that is pummeling consumers and slowing economic growth. Investors are now betting the central bank will raise its key rate by a quarter of a percentage point, to 4.25%. “Afte...

Woman dies in northeast Austin shooting

Published Mon, 24 Feb 2025 01:19:44 GMT

AUSTIN (KXAN) -- Austin Police say a woman is dead after she called 911 Wednesday night to say she was shot at her northeast Austin apartment complex.According to police, the woman called 911 around 9 p.m. from the Fort Branch Apartments on Techni Center Drive. APD says the woman gave officers enough information for them to find her location. When officers found her, police say she appeared to have suffered multiple gunshot wounds.Both APD officers and Austin-Travis County EMS paramedics tried to save the woman, but she died just before 10:10 p.m., APD says. Austin Police say no suspects have been detained or identified and this is an isolated incident.APD says the victim, a Black woman in her late 20s, was the only person inside the apartment and officers have not found a weapon. If you have information, you should contact the APD homicide tip line at 512-477-3588. You can submit your tip anonymously through the Capital Area Crime Stoppers Program by visiting austincrime...

New Jersey man pleads guilty to Malta burglary

Published Mon, 24 Feb 2025 01:19:44 GMT

MALTA, N.Y. (NEWS10) -- A New Jersey man who was arrested in October 2022 has pleaded guilty to third-degree burglary. Robert Brown, of Wildwood, will be sentenced on May 24. Get the latest, news, weather, sports and community events delivered right to your inbox! Deputies from the Saratoga County Sheriff's Office said Brown allegedly entered a residence illegally in April 2021 to steal property from the home. Deputies also say Brown allegedly entered a storage unit illegally, belonging to the same victim to steal from it in June 2021. Both locations are in the town of Malta. Brown was already being held at the Saratoga County Jail on separate charges from the New York State Police at the time and was arrested on new charges.

Hoosick Falls senior Jake Sparks signs letter of intent with Marshall

Published Mon, 24 Feb 2025 01:19:44 GMT

HOOSICK FALLS, N.Y. (NEWS10) -- The high school baseball season is rapidly approaching, but one member of the Hoosick Falls High School team is already making history. Get the latest, news, weather, sports and community events delivered right to your inbox! Senior Jake Sparks signed his letter of intent to Marshall University Wednesday night. He's the first Panther baseball player to commit to the Division I level in over 30 years.Sparks proves that no matter where you're from, a drive to succeed can take you a long way."I think everyone here knows it's (Hoosick Falls) a small town," said Sparks. "They see it as an obstacle, and it's not. As long as you put the work in, they'll (scouts) find you. It doesn't matter what school you come from; if you're good, you're good. There's always a chance."Sparks went on to explain his reasoning for how he finally landed on playing for the Thundering Herd as the next step in his baseball career."I knew I wanted to go down south to get out of t...

UAlbany softball secures doubleheader sweep of Siena

Published Mon, 24 Feb 2025 01:19:44 GMT

ALBANY, N.Y. (NEWS10) -- The University at Albany softball team grabbed early leads in both games of Wednesday's doubleheader with Siena College, leading the Great Danes to a sweep of the Saints. Get the latest, news, weather, sports and community events delivered right to your inbox! GAME ONESCORE: UAlbany 4, Siena 1KEY STATSSenior Caitlyn Mitros led with the only two RBI.Senior Morgan Petty went 3-4 at-bat for a team-high batting average.Senior Wendi Hammond hit the Great Danes’ first triple of the season. Senior Maddi Petrella followed with a second triple.Hammond pitched the complete game with three strikeouts.HOW IT HAPPENEDMorgan Petty tallied the first hit of the game in the first inning.Siena notched their first single in the bottom of the first.Putting two runners on base with a walk for graduate student Chloe Lewis and a single from Wendi Hammond, Caitlyn Mitros drove in two runs with a double.The Great Dane defense tallied three-straight outs in the second inning.A...

March Madness: Sweet 16 arrives with a twist: 2 sites, not 4

Published Mon, 24 Feb 2025 01:19:44 GMT

By The Associated PressMarch Madness has reached the Sweet 16! There is a twist this year for the women’s tournament: The NCAA picked two regional sites instead of four, with Greenville, South Carolina, and Seattle each hosting eight teams. Here is what to know:GAMES TO WATCHNo. 3 seed LSU (30-2) vs. No. 2 seed Utah (27-4), Greenville, S.C., Friday, 5 p.m. ET.Kim Mulkey has the Tigers headed to the second weekend for the first time since 2014, and All-American Angel Reese is rolling. She had 25 points, 24 rebounds, six blocks, four assists and three steals in a win over Michigan. The Utes have an All-American, too, in Alissa Pili, who had 28 points and 10 rebounds in a 63-56 victory against Princeton. Utah had not been to the Sweet 16 since 2006.No. 2 Iowa (28-6) vs. No. 6 Colorado (25-8), Seattle, Friday, 7:30 p.m. ET.First-team All-American Caitlin Clark is a handful for Iowa opponents; she had 22 points and 12 assists against Georgia. The Buffaloes needed overtime in a 61-5...

March Madness: Sweet 16 begins from NYC to Las Vegas

Published Mon, 24 Feb 2025 01:19:44 GMT

By The Associated PressMarch Madness has reached Sweet 16 weekend. Two No. 1 seeds, Kansas and Purdue, are already gone along with millions of busted brackets and a host of bluebloods including Kentucky, Duke and Indiana —though UCLA’s drive for a 12th national title remains alive. Here is what to know:GAMES TO WATCHNo. 4 seed Connecticut (27-8) vs. No. 8 seed Arkansas (22-13), Thursday, 7:15 p.m. ET (CBS)The Huskies reached the Sweet 16 for the first time in nine years after outclassing Saint Mary’s behind 24 points by Adama Sanogo and timely 3-point shooting. The Razorbacks of coach Eric Musselman will look for another signature win — and perhaps a breakout game from Nick Smith Jr. — after ousting defending champion and top-seeded Kansas. No. 2 Kansas State (25-9) vs. No. 7 Michigan State (21-12), Thursday, 6:30 p.m. ET (TBS)Tom Izzo and Michigan State are in the Sweet 16 for the 15th time and first in four years after beating No. 2 seed Marquette. At...

Greece to have elections in May, prime minister says

Published Mon, 24 Feb 2025 01:19:44 GMT

Greece will hold a general election in May, Prime Minister Kyriakos Mitchells said in a TV interview on Tuesday (21 March).The four-year term of the conservative government expires in July. Mitsotakis was widely anticipated to call an election in April.After the worst rail accident in Greece on February 28, opinion polls show that his New Democracy party is losing ground to Syriza, the leftist opposition party.The accident in which a freight and passenger train collided head-on killed 57 people. It also sparked anger and mass protests against railway safety standards.In an interview with Alpha TV, Mitsotakis stated that he can assure you that the elections will take place in May. This was his first interview since the disaster.Tens of thousands have protested in Greece against the crash. This is the largest street demonstration the government has seen since it was elected in 2019.Protesters charge the government, as well as the previous governments over the past decade, with failing...