Tag: Region US

The collapse of Silicon Valley Bank (SVB) will not affect China’s financial system but offers an important lesson for the country’s banking industry, the official Securities Times has said.

An SVB-style bank failure is unlikely to happen in China but the incident would have “important implications for the development of China’s small- and medium-sized lenders, and the stability of China’s financial system”, the media outlet said in an editorial on Wednesday.

SVB’s shutdown on Friday has roiled global markets, forced US President Joe Biden to rush out assurances that the financial system is safe and prompted emergency US measures giving banks access to more funding.

Responding after Canadian Foreign Affairs Minister Melanie Joly said Ottawa is seeking “potential regime change in Russia” in comments to reporters last week, Moscow’s Ambassador to Canada Oleg Stepanov asked how Western nations would respond if the roles were reversed. “Quite perplexed to hear from Canadian Foreign Minister Melanie Joly that her goal is ‘regime change’ in Russia. Is this how she instructs the Canadian Embassy in Moscow?” Stepanov said on Monday. “And by the way, what reaction would we expect if, for example, someone in Moscow had said that Russia’s goal is ‘regime change’ in Ottawa?”

A Southfield, Michigan-headquartered bank holding company has agreed to plead guilty to securities fraud for filing false securities statements relating to its 2017 initial public offering (IPO) and its 2018 and 2019 annual filings.

According to a signed plea agreement that will be publicly filed in court, Sterling Bancorp, Inc. (the Company) was the holding company for its wholly owned subsidiary, Sterling Bank and Trust F.S.B. (the Bank, or together with the Company, “Sterling”). Sterling – with branches located in San Francisco, Los Angeles, Seattle, New York, and Southfield – completed an IPO in 2017, and the Company’s stock began trading on the NASDAQ exchange under the ticker symbol “SBT.”

Antonov met with Assistant Secretary of State for European and Eurasian Affairs Karen Donfried, who protested the “unsafe and unprofessional intercept” of the drone that resulted in its loss. “We consider this incident a provocation,” Antonov told reporters after the meeting. He said he told Donfried that US drones, planes and ships had no business being that close to Russian…

Senators on Tuesday called Russia’s downing of a U.S. drone “dangerous” and “reckless,” slamming Russian President Vladimir Putin but stopping short of calling for any specific actions.

A Russian fighter jet intercepted the drone over the Black Sea.

“This intercept was so dangerous and so brazen that the U.S. Air Force was forced to crash their drone into international waters. It is another reckless act by President Putin and his military, and I want to tell Mr. Putin, stop this behavior before you are the cause of an unintended escalation,” Senate Majority Leader Chuck Schumer (D-N.Y.) said from the chamber floor.

The United States, Australia and the United Kingdom are traveling “further down the wrong and dangerous path for their own geopolitical self-interest,” China’s Foreign Ministry said Tuesday, responding…

Russian President Vladimir Putin said Germany’s response to the explosion on North Sea pipelines showed that the country remained “occupied” and unable to act independently decades after its surrender at the end of World War II.

Putin, interviewed on Russian television, also said European leaders had been browbeaten into losing their sense of sovereignty and independence.

Western countries, including Germany, have reacted cautiously to investigations into the blasts which hit Russia’s Nord Stream gas pipelines last year, saying they believe they were a deliberate act, but declining to say who they think was responsible.

Taiwan unveiled its first portable attack drone on Tuesday, an unmanned aerial vehicle similar to a U.S. model used in Ukraine’s fight against Russia, as China steps up…

Facebook parent Meta is slashing 10,000 jobs, about as many as the social media company announced late last year in its first round of cuts, as uncertainly about the global economy hits the technology sector particularly hard.

The company announced 11,000 job cuts in November, about 13% of its workforce at the time. In addition to the layoffs, Meta said Tuesday that it would not fill 5,000 open positions.

Meta and other tech companies have been hiring aggressively for at least two years and in recent months have begun to let some of those workers go. Hiring in the U.S. is still strong, but layoffs have hit hard in some sectors.

Research shows most troops don’t begin transition classes until they are in their final months of military service.

Neither the US nor Russia gave any coordinates for the incident. The Americans argued the drone was “operating within international airspace” over the Black Sea. The Russians said the drone was inside the restricted airspace established for the special military operation, of which everyone was properly notified months ago. Unconfirmed reports in the Russian media put the drone’s location about 60 kilometers (37 miles) southwest of the Crimean port of Sevastopol.

Russian President Vladimir Putin on Tuesday dismissed allegations that Ukrainians could be behind the blasts that damaged the Nord Stream gas pipelines in the Baltic Sea last year, and insisted the U.S. was to blame. Putin spoke after The New York Times, The Washington Post and German media published stories last week citing unidentified U.S. and other officials as saying there was evidence Ukraine, or at least Ukrainians, may have been responsible. The Ukrainian government has denied involvement.

Germany’s Die Zeit newspaper and German public broadcasters ARD and SWR reported that investigators believed five men and a woman used a yacht hired by a Ukrainian-owned company in Poland to carry out the attack. German federal prosecutors confirmed that a boat was searched in January but have not confirmed the reported findings.

Putin rejected the notion as “sheer nonsense.”

Turkey’s stubborn membership conditions are showing signs of wearing down Finland’s “jump together” philosophy with neighbor and co-applicant Sweden.

Washington says ‘reckless’ Russian manoeuvers forced US to bring down MQ-9 drone, but Moscow denies collision occurred.

Ohio filed a lawsuit against railroad Norfolk Southern to make sure it pays for the cleanup and environmental damage caused by a fiery train derailment on the Ohio-Pennsylvania border last month, the state’s attorney general said Tuesday.

The federal lawsuit also seeks to force the company to pay for groundwater and soil monitoring in the years to come and economic losses in the village of East Palestine and surrounding areas, said Ohio Attorney General Dave Yost.

“The fallout from this highly preventable accident is going to reverberate throughout Ohio for many years to come,” Yost said.

The UAV was flying towards the Russian border without a transponder active, in clear violation of the restricted area established for the conduct of the special military operation, the ministry said. Two interceptors were dispatched to investigate.  “As a result of sharp maneuvers around 9:30am Moscow time, the MQ-9 unmanned aerial vehicle went into uncontrolled flight, lost altitude, and collided…