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Banking giant UBS acquiring Credit Suisse to rein in turmoil

Published Sat, 22 Feb 2025 06:47:37 GMT

By JAMEY KEATEN and KEN SWEETGENEVA, Switzerland (AP) — Banking giant UBS is buying its smaller rival Credit Suisse in an effort to avoid further market-shaking turmoil in global banking, Swiss President Alain Berset announced on Sunday night. Berset, who did not specify a value of the deal, called the announcement “one of great breadth for the stability of international finance. An uncontrolled collapse of Credit Suisse would lead to incalculable consequences for the country and the international financial system.”The Swiss president said the council had agreed to guarantee a total of 150 billion francs of liquidity to the 167-year-old bank, well beyond the 50 billion (54 million Swiss francs) figure that had been announced publicly. But that didn’t appear to be enough.“We noted that the outflows of liquidity and the volatility of the markets demonstrated that necessary confidence could no longer be restored, and a rapid solution guaranteeing stability...

Indiana, Miami preparing for Holmes’ return in March Madness

Published Sat, 22 Feb 2025 06:47:37 GMT

INDIANAPOLIS (AP) — Top-seeded Indiana needs All-America center Mackenzie Holmes to carry a heavy burden — if the team intends to fulfill its championship hopes.It appears the Big Ten’s defensive player of the year will be back Monday night.One day after watching her teammates roll past Ohio Valley Conference Tournament champion Tennessee Tech, Holmes made it through most of Sunday’s practice and appeared ready to go for the Hoosiers’ second-round women’s NCAA Tournament game against ninth-seeded Miami.“She’s more than ready to be in the lineup (Monday) and see playing time,” coach Teri Moren said. “Whether that will be limited, probably, but we’re prepared for that.”Getting any minutes from Holmes would be a huge boost for the Hoosiers (28-3). She did not play in Saturday’s 30-point rout of the much-smaller Golden Eagles.That decision gave Holmes extra time to recover from a sore knee, an injury Moren said dated to Holmes’ prep ...

AP source: Rockies sign Profar to shore up outfield

Published Sat, 22 Feb 2025 06:47:37 GMT

SCOTTSDALE, Ariz. (AP) — The Colorado Rockies have agreed to terms on a one-year deal with free-agent outfielder Jurickson Profar, a person with knowledge of the negotiations told The Associated Press on Sunday.Profar will get $7.75 million in the deal. The person spoke on the condition of anonymity because the contract was pending a physical. The former Rangers, Athletics and Padres outfielder batted .231 for the Netherlands in the World Baseball Classic this spring. He hit .243 with 15 homers and 58 RBIs for San Diego last season and opted out of the final year of his three-year, $21 million contract with the Padres.___AP Baseball Writer Ronald Blum contributed to this report. ___AP MLB: https://apnews.com/hub/mlb and https://twitter.com/AP_SportsSource

Toledo seeks 1st Sweet 16 in March Madness against Lady Vols

Published Sat, 22 Feb 2025 06:47:37 GMT

KNOXVILLE, Tenn. (AP) — The 12th-seeded Toledo Rockets know they’re on the verge of program history — a win away from the first Sweet 16 for the Mid-American Conference Tournament champ. Toledo junior guard Khera Goss said she’s dreamed of this opportunity since she was a little girl. “Growing up in a basketball family, this is something that I’ve been surrounded by, so the fact that it’s our turn to be able to experience it and live it out is something that I can’t even put into words,” Goss said Sunday.Thanks to a crash course in women’s basketball history this week, they also fully understand the challenge Monday night when they play No. 4 seed Tennessee. They’ll be on the court named for the late coach Pat Summitt, under rafters filled with her eight national championship banners. Toledo coach Tricia Cullop, who during a recruiting trip accidentally took Summitt’s rental car keys before realizing the BMW was not hers, called the Lady Vols a formidab...

Matt Boldy hat trick paces Minnesota past Washington 5-3

Published Sat, 22 Feb 2025 06:47:37 GMT

ST. PAUL, Minn. (AP) — Matt Boldy recorded his second career hat trick and the Minnesota Wild rebounded to beat Washington 5-3 on Sunday.Minnesota, which had its 14-game point-streak end Saturday against Boston, is within one point of Dallas for the Central Division lead and two points up on Colorado for second with a dozen games to play.Ryan Reaves and Brandon Duhaime also scored, and Marc-Andre Fleury made 33 saves for Minnesota, improving to 7-0-0 in his last seven starts.Alex Ovechkin scored twice on the power play and Dylan Strome once for Washington, 2-4-1 in its past seven games. The Capitals trail Pittsburgh by five points for the final wild card spot with 11 games remaining. Charlie Lindgren stopped 35 shots.The trio of Boldy, Marcus Johansson and Joel Eriksson Ek has set the tone for Minnesota in the five games since Kirill Kaprizov was injured. Boldy has five goals and four assists, Johansson has two goals and five assists and Eriksson Ek has a goal and four assists.Boldy...

Women’s March Madness: Maryland, Virginia Tech vying for Sweet 16 spot

Published Sat, 22 Feb 2025 06:47:37 GMT

With March Madness for women’s basketball underway, two D.C. region teams are vying for a spot in the Sweet 16.After blowing out their opponents in the first round, the University of Maryland Terrapins and the Virginia Tech Hokies will have their work cut out for them in round two.For day three of the NCAA women’s basketball tournament, here is what you need to know about these local teams.More Sports NewsMore College Basketball NewsVirginia TechSeattle Regional 3 Bracket: No. 1 Virginia Tech (28-4) vs. No. 9 South Dakota State, 5 p.m. on ESPN2 in Blacksburg, VirginiaThe Virginia Tech Hokies had a fairly easy time in their 25-point win against Chattanooga, where they led wire-to-wire, including a 17-0 scoring run between the first and second quarters. They were led by Georgia Amoore (22 points and five pointers) and Elizabeth Kitley (12 points and 14 rebounds)Even though they’re currently on a 12-game winning streak, they’ll have their work cut out when they face t...

March Madness rematch: Louisville vs Texas for Sweet 16

Published Sat, 22 Feb 2025 06:47:37 GMT

AUSTIN, Texas (AP) — Texas and Louisville already met once this season, back in a November tournament in the breezy Bahamas. The Cardinals got the better of the Longhorns that day when both were ranked in the Top 10 and penciling in expectations for deep runs in the NCAA Tournament. After a long season with ups and downs for both, they meet again Monday night on the Longhorns’ home court with a lot more at stake: a trip the Sweet 16. And it promises to be one of the most physical games of the tournament.“Both teams have that aggression in them,” Texas point guard Rori Harmon said. “Its part of their culture, that’s how we both play.””Fourth-seeded Texas (26-9) has advanced to the Elite Eight each of the past two seasons. Fifth-seeded Louisville (24-11) has reached the Elite Eight or Final Four in each of the last four tournaments.Louisville players say they know the first meeting between the teams, which the Cardinals won 71-63, is is now mostly meaningless. For starters...

1 killed in avalanche outside boundaries of Aspen Highlands

Published Sat, 22 Feb 2025 06:47:37 GMT

ASPEN, Colo. (KDVR) -- The Pitkin County Sheriff's Office said one person was killed in an avalanche outside Aspen Highlands Sunday afternoon.According to the Sheriff's Office, the avalanche occurred in the Maroon Bowl area of Highland Peak outside the ski boundary of Aspen Highlands where two others self extricated and rescue teams are working to get them out of the area. "Early reports indicate multiple skiers may have been caught in the avalanche," the PCSO Facebook page read around 3:30 p.m. 1 killed, 2 injured in backcountry avalanche The Sheriff's Office told FOX31 that crews are actively responding to the area but could not confirm if anyone was involved in the avalanche. Skier killed in avalanche outside MarbleJoel Thomas Shute, 36, was buried in an avalanche southwest of the Town of Marble in Upper Rapid Creek on Friday. His body was recovered by search crews on Saturday.He was with two other men who were rescued. One was taken out by helicopter and the other was able to ...

Fed and other central banks try to head off crisis by keeping dollars flowing

Published Sat, 22 Feb 2025 06:47:37 GMT

(CNN) — The US Federal Reserve and several other major central banks announced a coordinated effort Sunday night to boost the flow of US dollars through the global financial system with the aim of keeping credit flowing to households and businesses.“The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Federal Reserve, and the Swiss National Bank are today announcing a coordinated action to enhance the provision of liquidity via the standing US dollar liquidity swap line arrangements,” the central banks said in a joint statement.Sunday’s statement came just hours after Swiss authorities orchestrated an emergency takeover of Credit Suisse by UBS. Credit Suisse — one of the 30 most important banks in the global financial system — was bleeding money last week after investor and customer confidence collapsed.Market turmoil triggered by the second and third biggest bank failures in US history earlier this month is threatening t...

Flo Rida performs at 18th Florida AIDS Walk & Music Festival in Fort Lauderdale

Published Sat, 22 Feb 2025 06:47:37 GMT

The 18th annual Florida AIDS Walk & Music Festival was held in Fort Lauderdale this weekend, and this year’s event featured some South Florida-centric star power.The event, which aims to raise awareness in the community, took place Saturday at Fort Lauderdale Beach Park, along Seabreeze Boulevard.Singer Flo Rida partnered with the AIDS Healthcare Foundation for the event, which raises funds that help provide services in South Florida.Attendees were treated to games, food trucks and other activities.