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Credit Suisse saw $69 billion in outflows at start of 2023

Published Wed, 12 Feb 2025 20:21:06 GMT

GENEVA (AP) — Ailing bank Credit Suisse on Monday reported over 61 billion Swiss francs (nearly $69 billion) in outflows in the first three months of the year, when Switzerland’s government arranged for its takeover by rival UBS, and said clients are still withdrawing assets.The Zurich-based bank cited the “significant net asset outflows” as it posted results skewed by an emergency rescue that was orchestrated by Switzerland’s financial markets regulator and included the wipeout of some 15 billion Swiss francs in higher-risk bonds. Some of those investors are now suing over the losses.The takeover by UBS is expected to close in the coming months and was designed in part to help stabilize the global financial system that had been roiled by the collapse of two U.S. banks. The reputation of 167-year-old Credit Suisse had been pummeled in recent years over stock price declines, a string of scandals and the flight of customers worried about the bank’s future. The tailspin accelerated in ...

Arson investigation underway after 2 children injured, 1 critically, on South Side

Published Wed, 12 Feb 2025 20:21:06 GMT

CHICAGO — Two children are hospitalized following an arson fire at a home on the city's South Side Sunday night.Fire crews were called to a home in the 6100 block of South Carpenter Street in the Englewood neighborhood just after 11:30 p.m. Police said the fire started after some type of incendiary device was ignited and thrown at the back of the house.A man and five children were inside the home when the fire started. Officials said he and four of the children escaped unharmed.Firefighters entered the home and rescued the fifth child, a 4-year-old boy. He was transported to Comer Children's Hospital in critical condition after suffering smoke inhalation. Man dead after shooting in Niles nightclub parking lot A 9-year-old boy was also taken to the hospital and treated. He is in good condition.No suspects are in custody for the arson. Officials are investigating.

Monday Forecast: Freeze Warning in morning, temps in low 50s

Published Wed, 12 Feb 2025 20:21:06 GMT

CHICAGO — A Freeze Warning is in effect until 8 a.m. Monday with increasing clouds. Winds: W 5-10 G15. High: 52. Interactive Radar: Track showers and storm here Mostly cloudy tonight with slight early morning rain chance. Winds: SSW 5-10. Low: 39.Tuesday Forecast: Mostly cloudy with 40% chance of scattered rain chance, cooler lakeside. Winds: N 5-10 G15. High: 48/45.Full forecast details at the WGN Weather Center

Student loan servicers brace for trouble with payment restarts

Published Wed, 12 Feb 2025 20:21:06 GMT

(The Hill) -- Student loan servicers are in a tough bind, dealing with reduced staff as they prepare for the unprecedented situation of 44 million borrowers returning to payments later this summer.Student loan payments are expected to restart at the end of August at the latest, including for many borrowers who graduated during the pandemic and have never made such payments before. “I think the real challenge is the resource constraint, right? That's really on the customer service side," said Scott Buchanan, executive director for Student Loan Servicing Alliance (SLSA). "Systemically, we can handle this, but that customer service component is going to be constrained, and that's because the [Education] Department has continued to make cuts to the customer service funding for student loan servicers."SLSA is a nonprofit trade association that works on student loan servicing issues. It says its members, which include federal student loan servicers Aidvantage and Edfinanical Services...

How Austin became the 'Live Music Capital of the World'

Published Wed, 12 Feb 2025 20:21:06 GMT

AUSTIN (KXAN) — Austin is known as the "Live Music Capital of the World." Countless live music options, major music festivals and a history of big music names support this title.But where did it come from? It started in the mid-1980s when the Austin Convention and Visitors Council--now the separate Visit Austin and Austin Chamber of Commerce entities--thought up a campaign to highlight the city's music scene. The "Live Music Capital of the World" idea came during a conversation about how you can see live music any night of the week in Austin, said chamber spokesperson Bryce Bencivengo. The brand appeared for one of the first times in Billboard's July 20, 1985, issue. For musical context, the top pop album that week was Tears For Fears' "Songs from the Big Chair," and the top single was "A View to a Kill" by Duran Duran. An ad for the Austin Convention Center and Visitors Council features the new brand next to the groups' logos. Austin Convention and Visitors Council ad in Billboard ...

Whitehall man accused of promoting prison contraband

Published Wed, 12 Feb 2025 20:21:06 GMT

WASHINGTON COUNTY, N.Y. (NEWS10) -- A Whitehall man was arrested after deputies say he was found to have assaulted an incarcerated individual at the Washington County Jail, as well as promoting prison contraband. Damien Beayon, 37, faces multiple charges. Get the latest, news, weather, sports and community events delivered right to your inbox! The Washington County Sheriff's Office says an investigation found Beayon had assaulted another incarcerated individual while at the Washington County Jail. Deputies say the assault happened on Tuesday, April 11, and the assault caused physical injury to the victim. Amid the investigation, it was found Beayon allegedly promoted contraband in prison. Charges:Second-degree assaultThird-degree criminal possession of a weaponFirst-degree promoting prison contraband MCSO: Schenectady man arrested after car, foot chase Beyon was arraigned in Washington County Centralized Arraignment. He is set to appear in the Town of Fort Edward Court at a late...

GasBuddy: Albany prices still on the rise

Published Wed, 12 Feb 2025 20:21:06 GMT

ALBANY, N.Y. (NEWS10) -- Average gasoline prices in Albany have risen 9.2 cents per gallon in the last week, averaging $3.72/g on Monday, according to GasBuddy's survey of 546 stations in Albany. Prices in Albany are 27.7 cents per gallon higher than a month ago and stand 48.0 cents per gallon lower than a year ago. The national average price of diesel has fallen 3.0 cents in the last week and stands at $4.12 per gallon. Get the latest, news, weather, sports and community events delivered right to your inbox! According to GasBuddy price reports, the cheapest station in Albany was priced at $3.49/g on Sunday while the most expensive was $3.85/g, a difference of 36.0 cents per gallon. The lowest price in the state yesterday was $2.63/g while the highest was $4.19/g, a difference of $1.56/g.The national average price of gasoline has fallen 0.8 cents per gallon in the last week, averaging $3.64/g on Monday. The national average is up 22.8 cents per gallon from a month ago and stands 4...

Kim Gardner facing contempt of court charges after trial no-show

Published Wed, 12 Feb 2025 20:21:06 GMT

ST. LOUIS - Embattled St. Louis Circuit Attorney Kim Gardner is slated to appear in court Monday morning to explain why she should not be held in indirect criminal contempt of court. This latest legal trouble for Gardner comes after one of her prosecutors didn't show up for the first day of a murder trial that was supposed to start one week ago.The trial is now on hold and the case could be dismissed. Monday morning's hearing is set for 9:00 a.m. before judge Scott Millikan inside the Civil Courts building.In his order for Gardner to show cause for why she should not be held in contempt of court, judge Millikan said that the conduct of the circuit attorney's office in this case "thwarts and defeats the authority of the circuit court of the city of St. Louis."Gardner responded this past Friday, blaming her assistant circuit attorney assigned to the case, Alex Polta. Gardner's filing shared that Polta had told an official in the Circuit Attorney's Office that he was going on vacation ...

Freezing temps Monday morning, highs in low to mid 60s through week

Published Wed, 12 Feb 2025 20:21:06 GMT

St. Louis weather from Meteorologist Angela Hutti:ST. LOUIS - The second of two cold mornings is underway. Out the door temperatures Monday will be in the low to mid 30s with valleys and low-lying areas possibly dropping into the upper 20s. So it is a bundle up morning.  As high pressure slides east Monday, we’ll get into more of a southerly flow, and that will help warm us up. Temps will remain below average this week, but it will be milder than what we saw over the weekend. Highs in the low to mid 60s each day and lows in the mid 40s are expected. St. Louis radar: See a map of current weather here Watching for rain Tuesday through Thursday, but most of that will stay just north or south of the St. Louis region. The best chance will be on Thursday. A cold front late Friday brings better rain chances into the weekend.  

Police investigating standoff in St. Louis County

Published Wed, 12 Feb 2025 20:21:06 GMT

ST. LOUIS COUNTY, MO. - A police standoff in Affton is over early Monday morning.It lasted about three hours at the Brookside Village Apartments on Mackenzie Road and Chamberlain Drive. Local musician killed in Soulard fire, friends say That person was taken away by ambulance at about 2:30 a.m. St. Louis County Police will only share that this is an active investigation.FOX 2 will update this story with more information as it becomes available.