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Credit Suisse chairman admits failure, anger to shareholders

Published Wed, 26 Feb 2025 13:23:07 GMT

ZURICH (AP) — The chairman of Credit Suisse apologized Tuesday to shareholders for failures of the once-venerable bank and acknowledged the shock and anger felt as the troubled Swiss lender is set to be swallowed up by rival UBS in a government-arranged takeover.Axel Lehmann, who took the top board job only last year after joining Credit Suisse from UBS in 2021, decried “massive outflows” of customer funds in October and a “downward spiral” that culminated last month as turmoil from a U.S. banking crisis spilled overseas. “The bank could not be saved,” he said, and only two options awaited — a deal or bankruptcy.“The bitterness, anger and shock of those who are disappointed, overwhelmed and affected by the developments of the past few weeks is palpable,” Lehmann told what is likely the last Credit Suisse shareholder meeting in its 167-year history. “I apologize that we were no longer able to stem the loss of trust that had accumulated over the years and for disappointing you,”...

Montenegro’s new president says country firmly on EU path

Published Wed, 26 Feb 2025 13:23:07 GMT

PODGORICA, Montenegro (AP) — Montenegro’s president-elect Jakov Milatovic is pledging to speed up the small country’s bid for membership to the European Union and to adhere to the bloc’s policy line toward Russia over its invasion of Ukraine. At the same time, Milatovic says he will advocate for stronger ties with Serbia and other Balkan neighbors. “One of the key foreign policy priorities for Montenegro, as well as myself as the new president of the country, will be to speed up the country’s EU accession so that Montenegro hopefully becomes the next EU member within the next five years of my mandate,” Milatovic told The Associated Press in an interview on Monday.The president-elect’s commitment to EU membership appears to bely accusations by detractors that he is somehow a puppet of Moscow.Milatovic, a 36-year-old Western-educated economics expert, won the presidential runoff election in Montenegro on Sunday, defeating pro-Western incumbent Milo Djukanovic who has been in pow...

NATO flags raised in Helsinki as Finland joins alliance

Published Wed, 26 Feb 2025 13:23:07 GMT

HELSINKI (AP) — NATO’s blue and white flags fluttered against the backdrop of Helsinki’s deep blue sky as Finland was on the cusp of its historic entry into NATO Tuesday, a step that doubles the Western alliance’s border with Russia and ends decades of non-alignment for the Nordic nation.The country’s foreign minister traveled the night before to Brussels carrying papers in a suitcase that when handed over to U.S. Secretary of State Antony Blinken will seal Finland’s entry into the North Atlantic Treaty Organization.It’s a moment that most Finns had never even sought as they balanced friendly ties with both the West and Russia. But all that changed with Russia’s full-scale and brutal invasion of its neighbor Ukraine last year, creating a sudden and strong sense of insecurity that pushed the nation toward membership to the security alliance.Newspapers showed Foreign Minister Pekka Haavisto with a smile on his face as he traveled to Brussels late Mo...

Taiwan defies China pressure before US House speaker meeting

Published Wed, 26 Feb 2025 13:23:07 GMT

TAIPEI, Taiwan (AP) — Taiwan pushed back against threats of retaliation by China, ahead of an expected meeting between the island’s president and the U.S. House speaker Wednesday that will underscore her government’s claim to sovereignty.President Tsai Ing-wen is finishing a tour of Taiwan’s remaining diplomatic allies in Latin America, Belize and Guatemala. The most politically sensitive part of her trip will be a meeting with U.S. House Speaker Kevin McCarthy in Los Angeles while she transits on her way back home. China views Taiwan as its own territory and treats any dealings between U.S. and Taiwanese officials as a challenge to its sovereignty. Tsai’s tour is a bid to demonstrate that her government has international support.Belize and Guatemala are two of just 13 countries that formally recognize Taiwan, a number that has dipped as China has put pressure on and funneled money into isolating the island. Tsai’s Latin American trip comes just a week ...

Biden offers $450M for clean energy projects at coal mines

Published Wed, 26 Feb 2025 13:23:07 GMT

WASHINGTON (AP) — President Joe Biden’s administration is making $450 million available for solar farms and other clean energy projects across the country at the site of current or former coal mines, part of his ongoing efforts to combat climate change.As many as five projects nationwide will be funded through the 2021 infrastructure law, with at least two projects set aside for solar farms, the White House said Tuesday.The White House also said it will allow developers of clean energy projects to take advantage of billions of dollars in new bonuses being offered in addition to investment and production tax credits available through the 2022 Inflation Reduction Act. The bonuses will “incentivize more clean energy investment in energy communities, particularly coal communities,” that have been hurt by a decade-plus decline in U.S. coal production, the White House said.The actions are among steps the Biden administration is taking as the Democratic president moves to...

UConn emerges victorious after March Madness full of upsets

Published Wed, 26 Feb 2025 13:23:07 GMT

The Cinderellas certainly had their moments in this March Madness. Morethanafew, actually.In the end, it was a familiar face that won the NCAA Tournament. UConn — a No. 4 seed — beat No. 5 seed San Diego State 76-59 on Monday night in Houston for its fifth title in the past 24 years. The Huskies and coach Dan Hurley cruised through the tournament in impressive fashion, winning all six games by at least 10 points.The Aztecs of the Mountain West Conference didn’t go quietly, cutting UConn’s lead to six points late in the second half before the Huskies used one more run to put the game away. It was San Diego State’s first trip to the title game.Before Monday night, college basketball fans enjoyed three weeks of great moments. Here are a few that stood out:FAIRLEIGH DICKINSON SHOCKERLittle-known Fairleigh Dickinson — a private, commuter school in Teaneck, New Jersey — provided an early stunner, becoming just the second No. 16 seed to beat a No. 1 seed with its 63-58 wi...

Ex-Maryland official dead after nationwide manhunt, lawyers say

Published Wed, 26 Feb 2025 13:23:07 GMT

BALTIMORE (AP) — A former Maryland political aide wanted on corruption charges died Monday after he was wounded while being confronted by law enforcement agents, his lawyer said, following a manhunt that was launched when the man failed to appear for trial.Attorney Joseph Murtha said the FBI confirmed Roy McGrath’s death to him. He added that it was not immediately clear if McGrath's wound was self-inflicted or came during an exchange of gunfire with agents. Former Maryland official dead in Knoxville shooting after nationwide manhunt The FBI had said earlier that McGrath, once a top aide to a former Maryland governor, had been hospitalized following an agent-involved shooting, but declined to elaborate.William Brennan, an attorney for McGrath's wife, Laura Bruner, also confirmed the death and said she was “absolutely distraught.”Roy C. McGrath. (Courtesy of the FBI)According to an email earlier from FBI Supervisory Special Agent Shayne Buchwald in Maryland, McGrath was wounded dur...

Risk of strong storms followed by fire danger, cooler temperatures

Published Wed, 26 Feb 2025 13:23:07 GMT

AUSTIN (KXAN) -- One more day of early summer-like temperatures before a cooler and wetter weather pattern takes hold of Central Texas. UPDATED April forecast increases chances for rain Today will feature more clouds than sun with hot and breezy conditions areawide. Afternoon highs look to climb well into the 80s and low 90s, with Austin's 91° coming within 1° of the record set in 2019.Austin's Tuesday forecastAn isolated storm is possible late this evening (rain chance: 10%), but drier air at the surface will be tough to overcome. Not until early tomorrow morning will a strong cold front slide in, bringing better dynamics for storms and showers.There is a low risk of strong to severe storms overnight into early Wednesday morning with wind and hail being the primary concerns, but this broken line of storms looks hit & miss with most of us likely to stay dry.Low risk (1 to 2 out of 5) of severe storms overnight into early Wednesday (before 7AM)This cold front and associated rai...

Georgetown ISD's superintendent to retire

Published Wed, 26 Feb 2025 13:23:07 GMT

GEORGETOWN, Texas (KXAN) – The Georgetown Independent School District announced Monday its district's superintendent is retiring in June. The Georgetown ISD Board of Trustees voted Monday to approve the retirement of Superintendent Fred Brent effective on June 30. According to the district announcement, Brent will be designated Superintendent Emeritus from May 1 to June 30. The district says, "this allows the Board to name an interim superintendent while Brent serves in an advisory role to the leadership team and Board of Trustees as they seek a new superintendent." "I’ve had the honor of serving students, educators and communities in public education for 32 years, and the last nine years as the superintendent of Georgetown have been the highlight of my career,” Brent said in Monday's announcement. “I feel incredibly fortunate to have been part of this work and to work with amazing people along the way. I am blessed that my family and I will be able to continue to call Georgetown, T...

Travis County says plan ahead for Easter crowds at parks

Published Wed, 26 Feb 2025 13:23:07 GMT

AUSTIN (KXAN) – Travis County officials said visitors should plan ahead for crowds at county parks on Easter Sunday, which falls on April 9.County officials said if a park reaches maximum capacity, additional visitors will not be allowed in for the rest of the day. The county will post a closure notice on that park's webpage. The county warned that visitors will not be allowed to park elsewhere and walk in, and anyone who leaves a park while it is at capacity will not be allowed to re-enter. According to the county, parks that charge day use fees only accept cash. Credit or debit cards are not accepted at those entrance booths. Some parks offer reservations for shelters or pavilions for big groups. The county asks you do not bring confetti eggs, also known as cascarones, that contain plastic confetti. You can also check individual park webpages and the "Know Before You Go" sections.