Category: All News

Japanese protesters call to evict US military outposts amid growing tensions

Demonstrators demanded the closure of the US’ Okinawa bases. The island’s inhabitants are weary of the pollution – both chemical and aural – produced by Washington’s military outposts, as well as the high number of crimes committed by American servicemembers, from petty theft and drunk driving to rape and murder.  Governor Denny Tamaki has urged the Japanese and US governments to reduce the Pentagon’s footprint on the island, which hosts 70% of all US military facilities in Japan despite comprising just 1% of the country’s total land area. 

Legal fund for man charged in New York subway death tops US$1.6 m

NEW YORK – A crowdfunding effort supporting the man charged over the chokehold death of a homeless person in New York has raised more than US$1.6 million (S$2.14 million) on a platform known for facilitating funding of far-right figures.

The death earlier this month of Jordan Neely, a Michael Jackson impersonator who often performed on the subway, sparked outrage after it was caught on camera.

Daniel Penny, a 24-year-old US Marine veteran, was charged with manslaughter in the second degree and released on bail. The charge accuses Penny of “recklessly” causing the death of 30-year-old Neely, but it stops short of saying he had intent to kill.

The online fund supporting him was set up by the law firm Raiser & Kenniff, P.C., which is representing Penny.

Google to pay US$8m to settle claims of deceptive ads: Texas AG

WASHINGTON – Google, a unit of Alphabet, has agreed to pay US$8 million (S$10.7 million) to settle claims it used deceptive advertisements to promote the Pixel 4 smartphone, Texas Attorney General Ken Paxton announced on Friday.

The search and advertising giant, which also makes Android smartphone software and owns YouTube, has been scrutinised for antitrust and consumer protection infractions by both the federal government and state attorneys general. The federal government has filed two antitrust lawsuits.

In this instance, Paxton’s office alleged that Google hired radio announcers to give testimonials about the Pixel 4 even though the company had refused to allow them to use one of the phones.

“If Google is going to advertise in Texas, their statements better be true,” Paxton said in a statement. “In this case, the company made statements that were blatantly false, and our settlement holds Google accountable for lying to Texans for financial gain.”

The cost of Turkey’s TF-X fighter jet could rise, manufacturer says

ANKARA, Turkey — The price tag for Turkey’s TF-X fighter jet could be more than previously expected, according to the head of its manufacturer. Temel Kotil, who serves as CEO for Turkish Aerospace Industries, said in March 2021 during a TV interview that a single TF-X would be $100 million per unit. But this week, Kotil said that unit price…

Virginia hid execution files from the public. Here’s what they don’t want you to see

A former Virginia Department of Corrections employee donated hundreds of execution documents, including these photographs, to the Library of Virginia more than a decade ago. NPR is now exclusively publishing a selection of the documents. Library of Virginia, Chiara Eisner and Monika Evstatieva/NPR Library of Virginia, Chiara Eisner and Monika Evstatieva/NPR   In January, NPR aired excerpts from four tapes…

SoftBank posts $9.6 billion annual loss as Vision Fund slides further

TOKYO – Japan’s SoftBank Group reported an annual net loss of 970 billion yen (S$9.6 billion) for the year ended March 31, with the Vision Fund unit posting a quarterly investment loss due to weakness in tech valuations.

Chief executive Masayoshi Son’s attempt to bestride the tech investing industry has suffered a series of high-profile reversals after outsized bets through SoftBank’s first Vision Fund turned sour and investments made at bubbly valuations via a smaller second fund slumped.

With key architects of that strategy having left, Mr Son has focused on shoring up the balance sheet, cutting his stake in e-commerce giant Alibaba Group Holding and stepping back from trademark presentations to focus on the listing of chip designer Arm.

Britain set to blacklist Russia’s Wagner group: Report

LONDON – Britain is set to formally blacklist Russia’s mercenary force Wagner group as a terrorist organisation to increase pressure on Russia, The Times newspaper reported on Tuesday.

Wagner mercenaries have spearheaded Russia’s months-long assault on Bakhmut in the industrial Donbas region.

After two months of building a legal case, proscription or a formal blacklisting of the group was “imminent” and likely to be enacted within weeks, the newspaper reported citing a government source.

US Fed flags concerns over credit tightening, financial stress

WASHINGTON – A Federal Reserve report warned that banks’ concerns about slower growth could lead them to make fewer loans, accelerating an economic downturn, and highlighted commercial real estate as an area of heightened risk that will draw more scrutiny from bank examiners.

The US central bank’s financial stability report released on Monday is the first since four regional lenders collapsed. The episodes prompted weeks of wild trading in bank stocks and forced regulators to take a series of extraordinary steps that included backstopping all depositors at Silicon Valley Bank and Signature Bank.

FBI: Colombians drugged US soldiers, stole money, phones

FORT LAUDERDALE, Fla. — Three Colombian nationals are facing federal charges in Miami accusing them of drugging two U.S. Army soldiers at a Bogota bar three years ago to steal their debit and credit cards and their phones, U.S. law enforcement officials announced Friday. Jeffersson Arango, Kenneth Uribe and Pedro Silva have been indicted on kidnapping, assault and conspiracy charges…

Toxic foam spill at Hawaii’s Red Hill facility due to contractor error

A maintenance contractor’s error, and lack of adequate oversight by the Navy, led to the spill of 1,300 gallons of toxic fire suppressant at the Red Hill Bulk Fuel Storage site near Joint Base Pearl Harbor-Hickam, Hawaii, on Nov. 29, 2022. Military investigators found that the contractor improperly installed an air vacuum valve on the system that carries Aqueous Film…

US investigating Goldman’s work for Silicon Valley Bank

NEW YORK – US authorities are investigating the work Goldman Sachs did for Silicon Valley Bank (SVB) in the weeks before it failed, including its advice that the smaller lender sell a large portfolio of securities at a loss, according to a regulatory filing by Goldman on Thursday.

Goldman said it was “cooperating with and providing information to various governmental bodies in connection with their investigations and inquiries” into SVB, which collapsed suddenly March 10, touching off a crisis of confidence that has led to the failure of two more regional lenders, and a panic in the stock market over the fate of others.

The investigations include “the firm’s business with SVB in or around March 2023, when SVB engaged the firm to assist with a proposed capital raise and SVB sold the firm a portfolio of securities,” Goldman’s filing to the Securities and Exchange Commission said.

Credit Suisse AT1 holders in Asia add to claims over wipe-out

A group of Credit Suisse Group bondholders in Asia challenged Switzerland’s banking regulator over the decision to write down about 16 billion Swiss francs (S$24 billion) of the bank’s riskiest debt, the first known move by wealthy investors in the region.

The filing was made in the Swiss courts on Wednesday, said Mr Mahesh Rai at Singapore-based Drew & Napier LLC. Mr Rai is acting for more than 60 investors across Asia for the case. He declined to specify the losses involved. 

The move appeals the Swiss Financial Market Supervisory Authority’s (Finma) decision to prioritise shareholders over the additional tier-one bondholders, he said.

More vaccines: US becomes first country to approve Respiratory Syncytial Virus vaccine

The United States on Wednesday approved the world’s first vaccine for the Respiratory Syncytial Virus (RSV), the culmination of a decades-long hunt to protect vulnerable people from the common illness.

Drugmaker GSK’s Arexvy was green-lighted for adults aged 60 and older, with similar shots from other makers including Pfizer and Moderna expected to follow soon.

“Today’s approval of the first RSV vaccine is an important public health achievement to prevent a disease which can be life-threatening,” said senior United States Food and Drug Administration (FDA) official Peter Marks in a statement.

The decision “marks a turning point in our effort to reduce the significant burden of RSV,” added Mr Tony Wood, GSK’s chief scientific officer.

RSV is a common virus that normally causes mild, cold-like symptoms, but can be serious for infants and the elderly, as well as those with weak immune systems and underlying conditions.

‘We have survived’: China’s Huawei goes local in response to US sanctions

In Huawei’s head office last month, staff gathered to celebrate the in-house development of software to replace a US system that, thanks to Washington’s export controls, the Chinese technology company was no longer able to purchase. “Three years ago, we were cut off from the old ERP [enterprise resource planning] system,” said Tao Jingwen, a Huawei board member and president…

Asia stocks set to drop as bank woes hit US shares: markets wrap

Shares in Asia are set to decline after Wall Street fell on renewed concern about the banking sector before a Federal Reserve decision on Wednesday where US policymakers are expected to raise interest rates.

Equity futures in Japan, Australia and Hong Kong all declined, while US contracts edged lower in early Asian trade. The S&P 500 slipped 1.2 per cent on Wednesday, with the financial sector the second-worst performer after energy. 

US regional lenders PacWest Bancorp and Western Alliance Bancorp both slid at least 15 per cent just a day after J.P. Morgan Chase’s acquisition of First Republic Bank seemed to bolster confidence in the sector.

The decline in energy stocks followed a 5.3 per cent drop for the US oil price, the biggest decline since July, in a sign of unease about global growth. The decline stabilised early on Wednesday.

Zelensky says White House did not inform him of documents leak: Washington Post

Ukrainian President Volodymyr Zelensky told the Washington Post in an interview published on Tuesday that the White House did not inform him about a leak of secret US documents that grabbed attention around the world in April.

“I did not receive information from the White House or the Pentagon beforehand,” Mr Zelensky was quoted as saying.

“It is unprofitable for us,” he added. “It is not beneficial to the reputation of the White House, and I believe it is not beneficial to the reputation of the United States.”

The materials posted online offered a partial, month-old snapshot of the war in Ukraine.

Ukraine’s Defence Minister Oleksii Reznikov said on April 12 that the Pentagon document leaks contained a mixture of true and false information about his country’s military, and downplayed its negative impact.