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The Federal Deposit Insurance Corporation (FDIC) announced Sunday night that First Citizens BancShares made a deal to acquire Silicon Valley Bank (SVB), the recently failed tech lender. On March 10, the federal regulator took over SVB following a bank run that caused it to collapse . The FDIC then sought a buyer for the bank, either as a whole or in segments, and found one in First Citizens in a transaction including $72 billion in assets — a discount of $16.5 billion, according to the FDIC statement . About $90 billion in SVB’s securities and other assets were not part of the acquisition and will stay in the ownership of the FDIC, according to the statement. The FDIC also will get equity appreciation rights tied to the stock of First Citizens, which may be worth up to $500 million, according to the statement. (RELATED: After Collecting Millions From Wall Street, Janet Yellen Now Helps Decide Which Banks Get Bailouts) Federal Reserve Board Chair Jerome Powell speaks … [Read more...] about First Citizens To Acquire Collapsed Silicon Valley Bank In Major Deal

Three students and three adults are dead after an active female shooter entered Covenant School, a private Christian school in Tennessee, according to a law enforcement press conference. The Metro Nashville Police Department “engaged” with the aggressor and reported the shooter is now dead. “We do not know who she is at this juncture,” law enforcement officials said in a Monday press conference. “We’re trying to identify her. She does appear to be in her teens.” (RELATED: Shooter Opens Fire On School Campus, Killing One Student) The suspected shooter was carrying two “assault-type rifles” and a handgun, officials said. An active shooter event has taken place at Covenant School, Covenant Presbyterian Church, on Burton Hills Dr. The shooter was engaged by MNPD and is dead. Student reunification with parents is at Woodmont Baptist Church, 2100 Woodmont Blvd. pic.twitter.com/vO8p9cj3vx — Metro Nashville PD (@MNPDNashville) March 27, 2023 The Tennessee Department … [Read more...] about Six Killed After Female Shooter Opens Fire At Nashville Private School

More voters appear to be dissatisfied than content with Transportation Secretary Pete Buttigieg’s response to an Ohio train derailment that exposed a small town to toxic chemicals in early February, according to a Harvard CAPS/Harris poll released Friday. A Norfolk Southern train derailed in East Palestine, Ohio, on Feb. 3 and a controlled burn conducted on Feb. 6 to alleviate pressure within the cars released harmful chemicals including vinyl chloride into the environment. Buttigieg caught flack for failing to respond to the derailment until ten days later, and for not visiting the derailment site until three weeks after the initial crash. (RELATED: ‘Superman’s Not Coming’: Ohioans Brace For Tough Road Ahead After Toxic Train Derailment) Thirty-one percent of polled voters said that Buttigieg’s response to the derailment was “poor,” while 30% said that it was “fair,” according to the results. Conversely, 29% said that the response was “good,” but only 9% said it was … [Read more...] about Majority Of Voters Believe Buttigieg’s Response To Toxic Train Derailment Was ‘Fair’ Or ‘Poor’: POLL

Editor’s note: This post has been updated to reflect comments from John Cramer, Vice President for Marketing and Communications at Connecticut College. The president of Connecticut College (CC) announced on March 24 that she would be stepping down amid backlash for plans to host an event at a golf club accused of antisemitism and racism, according to the president’s statement. Katherine Bergeron has been the college’s president for nearly a decade but informed the school that she would be stepping down from her position at the end of the semester, according to her official statement. Her announcement comes after weeks of protests against the president’s plan to host a fundraising event at the Everglades Club, which has allegedly refused service previously to Jewish and black Americans in the past, according to Inside Higher Ed. (RELATED: Women’s College Removes Former President’s Name From Library Due To History Of Antisemitism, ‘White Supremacy’) Bergeron’s statement … [Read more...] about College President Resigns Over Event Hosted At Golf Club Accused Of Antisemitism, Racism

Justice Secretary Jesus Crispin Remulla MANILA, Philippines —The Department of Justice (DOJ) has secured its first conviction for violation of the Terrorism Financing Prevention and Suppression Act of 2012 (Republic Act No. 10168). In a statement Monday, the DOJ said the Iligan City Regional Trial Court had convicted Angeline Magdua for 55 counts of violating that law as an accessory to the crime of terrorist financing. Magdua was one of the two cashiers of the Rural Missionaries of the Philippines-Northern Mindanao Region (RMP-NMR), a church-based national organization of priests and lay persons. “Despite conviction after 11 years after enactment of the law, this landmark decision will serve as the foundation and will pave the way for future prosecutions under this law,” Justice Secretary Jesus Crispin Remulla said. “Terrorism only leads to more violence and suffering, and we must break this cycle and works toward peace,” he added. According to f rontlinedefenders.org , … [Read more...] about Government secures first conviction for terrorism financing

The Commodity Futures Trading Commission (CFTC) sued Binance, the world’s largest cryptocurrency exchange, and its CEO Changpeng Zhao on Monday for allegedly breaking trading and derivatives rules. The derivatives regulator said Binance neglected its responsibility to properly register with the CFTC, according to the filing. The agency has been investigating Binance since at least 2021 over whether it has allowed Americans to trade crypto derivatives, as the CFTC rules typically obligate companies to register if they do. Binance allegedly guided American customers to avoid compliance measures by using VPNs (virtual private networks) and other methods, according to the filing. The firm also allegedly hid the fact that they had American customers in their internal documents and data. While Binance.US launched in 2019, Binance.com is illegal for Americans to use, which is why it is only accessible through VPN. Binance.US is more limited than Binance.com, with roughly 150 … [Read more...] about World’s Largest Crypto Exchange Sued By US Regulators

The Buffalo FBI is investigating whether a former federal agent knew beforehand of an accused gunman’s plans to murder black people at a local supermarket, law enforcement officials told The Buffalo News. Officials believe the retired agent was one of at least six individuals who regularly communicated about “racial hatred” with accused gunman and white supremacist Payton Gendron in a chat room, one official with close knowledge of the investigation told The Buffalo News . Gendron reportedly invited these individuals to read his mass shooting plans about 30 minutes before Gendron killed black 10 people at Tops Markets on May 14, two law enforcement sources told The Buffalo News. (RELATED: Buffalo Shooter’s Personal Diary Is Pretty Clear About His Sources Of Inspiration) “These were like-minded people who used this chat group to talk about their shared interests in racial hatred, replacement theory and hatred of anyone who is Jewish, a person of color or not of European … [Read more...] about Authorities Investigating If Ex-FBI Agent Knew Buffalo Mass Shooting Was Going To Happen: REPORT

NASA’s Juno spacecraft is about to make an extremely close flyby of Jupiter in December, snapping pictures along the way. Juno will perform its next science flyby of Jupiter on Dec. 11, snapping numerous pictures with its JunoCam imager. Juno’s mission is to understand how Jupiter formed and how it influenced the development of the rest of the solar system “Juno exited safe mode as expected, is healthy and is responding to all our commands,” Rick Nybakken, Juno project manager from NASA’s Jet Propulsion Laboratory, said in a press statement . “We anticipate we will be turning on the instruments in early November to get ready for our December flyby.” The spacecraft will use nine different scientific instruments to investigate the existence of a solid planetary core, map Jupiter’s intense magnetic fields, measure the amount of water and ammonia in the deep atmosphere, and observe the planet’s auroras. Juno’s camera will take super high-definition images, but will probably only … [Read more...] about The World Is About To Get Close-Up HD Images Of Jupiter

The Treasury Department will not offer tax breaks to European firms under the Inflation Reduction Act (IRA) in new guidance this week, but a potential trade deal could still grant them access to billions in subsidies offered by President Joe Biden’s signature climate legislation, Politico reported. The Treasury Department is expected to issue new guidance regarding the implementation of the Inflation Reduction Act this week without any concessions to European allies, some of whom have criticized the law for “protectionist” requirements for electric vehicles and their batteries to be sourced and manufactured in America to qualify for tax credits, Politico reported , citing a senior administration official. However, a potential trade deal between the U.S. and European Union — which would still require vehicles to be manufactured in the U.S. — could open up European minerals, batteries and vehicles for U.S. subsidies. (RELATED: Union Joe? Biden’s Foreign Mining Subsidy Scheme … [Read more...] about Biden Admin Won’t Offer EV Tax Breaks To European Firms…Yet: REPORT

Fox News host Tucker Carlson said Monday that proposed legislation to ban the Chinese-owned app TikTok would “make America much more like China.” “One of the bills that would ban TikTok is being pushed by senators in both parties, it’s called the RESTRICT Act. Mark Warner of Virginia and John Thune of South Dakota, Democrat and Republican, introduced this legislation,” said Carlson, a co-founder of the Daily Caller and Daily Caller News Foundation. “The bill is ostensibly about protecting American national security and ending ‘foreign adversaries’ from interfering in our elections through apps like TikTok. Because of course, election interference from Twitter and Facebook is no problem at all, but election inference through TikTok is totally unacceptable. (RELATED: ‘He Won’t Protect America’: Gov. Noem Predicts Biden Won’t Sign Ban On TikTok) “But in reality, if you are opposed TikTok, as we are, this bill isn’t about banning TikTok, it is never about what they say it is,” … [Read more...] about Tucker Says Anti-TikTok Bill Would ‘Make America Much More Like China’