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Last year, Prime Minister Rishi Sunak said in a speech that he was proud to be Britain’s first prime minister of Asian heritage, but “even prouder that it’s just not a big deal.”On Friday, Mr. Sunak said he was “hurt” and “angry” after a man campaigning on behalf of Reform U.K., an anti-immigration party, was recorded on video using a racist slur to describe him. The same man also called for migrants to be used as target practice. The comments appeared in an exposé by Channel 4 News, in which an undercover investigator secretly filmed Reform campaigners in Clacton, a seaside area north east of London. The party’s leader, the veteran political disrupter Nigel Farage, hopes to win his first parliamentary seat there. The investigation, broadcast on Thursday night, raised uncomfortable questions about Reform, which has shaken up the country’s general election campaign ever since Mr. Farage reversed an earlier decision not to stand for Parliament.
Persons: Rishi Sunak, Sunak, , Nigel Farage, Farage Organizations: U.K, Channel Locations: Clacton, London
He completed several years of training before heading off to work on offshore oil rigs. Moray West Offshore Wind Farm – Ocean WindsHe made the jump at a good time. Moray West Offshore Wind Farm — Ocean Winds. Mitchell said he'd been able to advance his career in the wind industry a lot faster than in oil and gas. "With offshore wind, there's always new sites going up, and they need so much personnel.
Persons: Shaun Mitchell, Halliburton, Shaun Mitchell wasn't, Mitchell, You'd, you'd, Vestas, Engie that's, He's, it's, he'd, It's Organizations: Service, Halliburton, North East Scotland College, Bloomberg, EDP Renewables, Engie Locations: Scotland, Thailand , New Zealand, Australia, Sydney, Aberdeen, Aberdeen Bay, Moray, Scotland —, China, Britain, Brazil, Colombia, Egypt, India, Japan, Kenya, South Korea, Vestas
Rescue teams are digging through the mud and debris trying to find survivors near Mai Mahiu, in Kenya’s Nakuru County, Gov. In Mai Mahiu, Kihika said a serious situation was unfolding as floodwaters swept away people and homes. Access to Mai Mahiu, 20 miles north of the capital Nairobi, had been difficult as part of the road had been cut off from recent heavy rains, Kihika said. Other video shows vast flooding around the Tana River, with large parts of the surrounding area underwater. Heavy rains in East Africa have also affected Tanzania and Burundi.
Persons: Susan Kihika, Isaac Maigua Mwaura, Mai Mahiu, Kihika, ” Kihika, Tana, Andre Kasuku, downpours, El Niño, Jagan Chapagain, Kassim Majaliwa Organizations: Kenya CNN —, Gov, CNN, Kenya Red Cross Society, of Education Locations: Nairobi, Kenya, Mai Mahiu, Kenya’s Nakuru County, Mai, Mororo, Tana River, Garissa, North Eastern Kenya, Tana, Kona, Tana River County, East Africa, Tanzania, Burundi, Tanzanian
The steel frame of the Francis Scott Key Bridge sits on top of the container ship Dali after the bridge collapsed, Baltimore, Maryland, on March 26, 2024. At the time of the collision, the vessel had two pilots from the Port of Baltimore on board. The steel frame of the Francis Scott Key Bridge lies in the water after it collapsed in Baltimore, Maryland, on March 26, 2024. "For cargo already on water, we will omit the port, and will discharge cargo set for Baltimore, in nearby ports. "The collapse of the Baltimore bridge primarily affects coal exports from CNX and CSX terminals," said Madeleine Overgaard, dry market data manager for the global trade data platform Kpler.
Persons: Francis Scott Key, Dali, Roberto Schmidt, Paul Brashier, Brashier, Goetz Alebrand, Wes Moore, Larry, Richard Meade, Meade, Kena Betancur, Andy Lipow, Lipow, Helen Delich Bentley, Judah Levine, Madeleine Overgaard, Levine, Tasos Katopodis Organizations: Afp, Getty Images Logistics, Port, Eastern Seaboard, ITS Logistics, Getty, Americas, DHL Global, Maryland Gov, Baltimore, AFP, Uber Freight, IKEA, Lipow Oil Associates, Maersk, Freightos, CSX, East, Francis Scott Key Bridge Locations: Baltimore , Maryland, Baltimore, New York, New Jersey, Norfolk, Port of Baltimore, Colombo, Sri Lanka, Port, American, Taicang Port, Suzhou, China's, Jiangsu, East Coast, Norfolk , Virginia, Maryland, Midwest, New England, Virginia, North East , Maryland, Gulf Coast, Philadelphia, Suez, CNX, Freightos, Asia, U.S
Putin Opponent Alexei Navalny Dies in Arctic Jail, Russia Says
  + stars: | 2024-02-16 | by ( Feb. | At A.M. | ) www.usnews.com   time to read: +5 min
By Guy Faulconbridge, Felix LightMOSCOW (Reuters) -Russia's most prominent opposition leader Alexei Navalny collapsed and died on Friday after a walk at the "Polar Wolf" Arctic penal colony where he was serving a long jail term, the Russian prison service said. "Russian authorities publish a confession that they killed Alexei Navalny in prison," Navalny aide Leonid Volkov wrote on social media. "Alexei Navalny paid with his life for his resistance to a system of oppression," France's Foreign Minister Stephane Sejourne said. "My sincere belief is that it was the conditions of detention that led to Navalny's death," Russian newspaper editor and Nobel Peace Prize laureate Dmitry Muratov told Reuters. Navalny long forecast Russia could face seismic political turmoil, including revolution, because he said Putin built a brittle system of personal rule reliant on sycophancy and corruption.
Persons: Guy Faulconbridge, Felix Light, Alexei Navalny, Navalny, Vladimir Putin, Leonid Volkov, Stephane Sejourne, Vladimir Putin's, Navalny's, Kira Yarmysh, Dmitry Muratov, Putin, Yulia, Andrew Cawthorne Organizations: Federal Penitentiary Service, Nenets Autonomous, IK, Kremlin, Peace, Reuters, KREMLIN, U.S, CIA Locations: Nenets, Nenets Autonomous District, Kharp, Moscow, Russian, Russia, Germany, Siberia, Europe
Bhutan Votes in Preliminary Round of National Elections
  + stars: | 2023-11-29 | by ( Nov. | At P.M. | ) www.usnews.com   time to read: +1 min
By Gopal SharmaKATHMANDU (Reuters) - Bhutan began voting on Thursday in the preliminary round of national elections to choose two political parties that will contest the fourth free vote since democracy was established in the Himalayan kingdom 15 years ago. Nestled between China and India, Bhutan is known for its Gross National Happiness (GNH) index, an economic gauge that takes into account factors normally ignored by gross domestic product measures, like recreation and emotional well-being. Nearly half a million of the country’s fewer than 800,000 people are eligible to vote for the five political parties that are in the fray. The two parties that win the highest number of votes will qualify for the final round of the election to the 47-member National Assembly, set to take place on Jan. 9. Analysts say all five political parties have vowed to boost the $3 billion economy that is dependent on aid and tourism.
Persons: Gopal Sharma, , , Karma, Stephen Coates Organizations: National Assembly, Bhutan, Analysts Locations: Gopal Sharma KATHMANDU, Bhutan, China, India, Punakha, Thimphu, Switzerland
ST. GEORGE, Utah (AP) — Utah Tech has suspended women’s basketball coach JD Gustin for two games following an investigation into allegations of misconduct by players. Utah Tech hired a consulting firm that does workplace investigations to review the complaints. University spokesperson Jyl Hall confirmed Tuesday that the investigation has been completed and that Gustin has been suspended for two games. Gustin will remain as head coach, the university said in a statement, while the findings of the investigation will be used to improve the women's basketball program. Utah Tech is located in St. George, Utah.
Persons: JD Gustin, Gustin, Jyl Organizations: — Utah Tech, Utah Tech, Salt Lake Tribune, Tribune, University, New, Stonehill College, North Easton , Massachusetts ., North Easton , Massachusetts . Utah Tech Locations: GEORGE , Utah, Salt, New Hampshire, North Easton , Massachusetts, North Easton , Massachusetts . Utah, St, George , Utah
New York CNN —Julia Galliker learned out of the blue that there was a problem with milk carton supplies. For Galliker, executive vice president of the Pennsylvania-based Galliker Dairy Company, that’s a big problem. The little milk cartons go not only to schools, but to other institutions like nursing homes and correctional facilities. “Like other milk carton producers across the industry, Pactiv Evergreen continues to face significantly higher than projected demand,” a company spokesperson said in a statement. “So there’s really not been any replacement for school milk cartons.”
Persons: Julia Galliker, there’s, Galliker, , she’s, “ There’s, “ It’s, ” Galliker, , aren’t, , Matt Herrick, it’s, ” Seth Teply Organizations: New, New York CNN, Galliker Dairy Company, Department, Agriculture, Nutrition Service, Department of Agriculture, Food and Drug Administration, CNN, Industry, International Dairy Foods Association, USDA, Springville, Griffith Institute Central School District, Tetra Pak, Tetra, , American Dairy Association North Locations: New York, Pennsylvania, United States, Springville , New York, Everett , Washington, Tetra, Canada
UK police make second arrest over Sycamore Gap tree felling
  + stars: | 2023-09-29 | by ( ) www.reuters.com   time to read: +1 min
[1/2] General view of the Sycamore Gap tree that was felled, in Once Brewed, Northumberland National Park, Britain, September 28, 2023. REUTERS/Lee Smith/File Photo Acquire Licensing RightsLONDON, Sept 29 (Reuters) - British police investigating the felling of the Sycamore Gap tree, a much-loved landmark in northern England whose dramatic silhouette featured in a Hollywood movie, have made a second arrest, they said on Friday. The tree was cut down overnight between Wednesday and Thursday in what police believe was a deliberate act of vandalism. Northumbria Police, who arrested a 16-year old male on Thursday, said a male in his 60s had also been arrested in connection with the incident and remains in custody. It was also known as the 'Robin Hood Tree' after featuring in the 1991 film "Robin Hood: Prince of Thieves".
Persons: Lee Smith, Hood, Robin Hood :, , Rebecca Fenney, Menzies of, , James Davey, Jonathan Oatis Organizations: REUTERS, British, Northumbria Police, Menzies of Northumbria Police, Thomson Locations: Northumberland, Park, Britain, England, Northumbria
The tree - at a spot known as “Sycamore Gap” – was located on the historic UNESCO World Heritage listed Hadrian’s Wall, which was constructed around 1,900 years ago to guard the furthest northwestern frontier of the Roman Empire. The tree before it was felled. Andre Poling/ullstein bild/Getty ImagesSycamore Gap was considered one of the most photographed trees in England and was voted as English Tree of the Year in 2016. The National Trust heritage charity – which co-manages the site – said it was “shocked and saddened” by the tree’s felling. The sycamore tree, seen here in 2021, was a striking presence on the wild landscape around Hadrian's Wall.
Persons: London CNN —, Kevin Costner’s, Robin Hood, Andre Poling, , Andrew Poad, Kevin Taverner, Kevin Waring Organizations: London CNN, ” Police, UNESCO, Getty, National Trust, Park Authority, Police, CNN, Northumbria Police, North Locations: Northumberland, England, Roman, Hadrian's, Northumbria
A mysterious company backed by Silicon Valley investors has been purchasing land near San Francisco. They're planning to build a retro city on the 52,000 acres of farmland they bought. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementThe Silicon Valley investors that got the government's attention by gobbling up $800 million worth of land outside San Francisco say the mystery city they plan on building is, well… kinda retro. Solano County Google Maps"The plans that people put forward will be very inspired by those great old American neighborhoods that someone who was born 100 years ago will recognize," Sramek told KQED.
Persons: , we've, Jan Sramek, Sramek, Goldman Sachs, Marc Andreessen, Laurene Powell Jobs, Michael Moritz of, Reid Hoffman, Flannery, who've, Catherine Moy, Moy, Bill Gates, Elon Musk, Musk, Chap Ambrose, Ambrose, Azmi Haroun Organizations: Service, KQED, The New York Times, Michael Moritz of Sequoia Capital, Flannery Associates, Travis Air Force Base, Solano County Google, Boring Company, SpaceX, Washington Post Locations: Silicon, San Francisco, California, Solano County, Bay, Fairfield, Solano Silicon, Austin , Texas, Bastrop Country
AdvertisementAdvertisementFor British students in the UK, tuition fees are currently capped at £9,250 a year. In 2006, tuition at a UK university cost an average of £3,000 a year, according to the House of Commons Library . Go back a decade, to 2013, and the average house price in this area was £250,911. AdvertisementAdvertisementThe average house price in 1995, when my parents moved in together, was around £56,000. However, if you compare the average house price in 1995 to the average house price in the UK in June 2023 — £287,456 — it's increased by more than 413%.
Persons: Adam England, Zers, , I'm, Gen, I'd, they've, They've, They're Organizations: Economic, Service, Commons, Deloitte, Price Index, Bank of Locations: England, Britain, Ukraine, Bath, North East Somerset
At least 26 workers were killed on Wednesday after the collapse of a bridge that was under construction in the northeastern Indian state of Mizoram, officials said. Several other workers were feared trapped under the wreckage, the Indian news media reported. Sabyasachi De, a spokesman for the North East Frontier Railway, said that Mizoram State had taken over a rescue operation and that the construction was a project of the federal railways ministry. “Most northeastern state capitals are not connected by the railways, so this bridge was part of that connectivity project,” he said. Mr. De said that a gantry, rather than the entire bridge, fell while being set atop the bridge’s piers.
Persons: Sabyasachi, , De Organizations: North East Frontier Railway Locations: Indian, Mizoram, Mizoram State
People walk with a dog on Roker Beach in the morning, in Sunderland, Britain, February 12, 2021. REUTERS/Lee SmithAug 5 (Reuters) - At least 57 participants fell ill after competing in sea swimming events at the World Triathlon Championship Series in Sunderland, North East of England, the Guardian newspaper reported on Saturday. After a swim off Sunderland’s Roker beach last weekend, those who fell ill complained that they were suffering from sickness and diarrhoea. The triathlon event in Sunderland served as the British leg of the 2023 World Triathlon Championship Series and coincided with the qualification period for the Paris 2024 Olympic Games. Water companies in Britain have been facing criticism over raw sewage releases which have led to the poor quality of rivers and beaches.
Persons: Lee Smith, Jacob Birtwhistle, Tommy Lund Organizations: REUTERS, Guardian, UK Health Security Agency, Paris, British, Sunderland City Council, Thomson Locations: Roker, Sunderland, Britain, North East, England, Gdansk
Amazon to hire 2,000 more staff for new UK fulfilment centre
  + stars: | 2023-07-18 | by ( ) www.reuters.com   time to read: 1 min
LONDON, July 18 (Reuters) - Amazon (AMZN.O) will hire up to 2,000 people to staff a new fulfilment centre in Britain, located in Stockton-on-Tees, north east England, which it is due to open in October, the company said on Tuesday. Amazon said a staff of 1,000 will initially be required before it adds additional employees as activity ramps up. The company announced plans to shut three older warehouses in Britain in January, impacting 1,200 jobs, with workers given the chance to transfer to other units. Reporting by Sarah Young; editing by William JamesOur Standards: The Thomson Reuters Trust Principles.
Persons: Amazon, Sarah Young, William James Our Organizations: Thomson Locations: Britain, Stockton, Tees, England
A second metric the firm uses is the difference in weighted compete score, which measures the direction the market is trending in. It's based on a year-over-year change in the overall compete score. A good way to look at the data is by considering both the overall score and the changing score. Marr says investors should pay more attention to the difference in the compete score, and specifically, areas that are facing steep increases versus declines. Below is a list of June's year-over-year difference in weighted compete score listed from lowest to highest positive change and the overall weighted compete score.
Persons: Taylor Marr, Marr, it's Organizations: MLS, Boston Locations: East, Redfin, It's, Lake County , Illinois, Chicago, Austin, Nashville, Las Vegas, Phoenix, Montgomery County, Columbus, Baltimore, Elgin, IL, Louis, Camden, NJ, Akron, York, NY, Providence, RI, Madison, WI, Haven, Newark , NJ, Bridgeport, County, Hartford, Milwaukee, Cincinnati
[1/5] Migrants wait to be rescued by Italian Coast Guard off the coast of Italy, April 10, 2023. The fact that Meloni, a figurehead of the new right, has not carried through on her pledges underscores how intractable the problem is. NORTH AFRICAIn the run-up to the 2022 election, Meloni said she would impose a naval blockade to prevent boats leaving north Africa. Meloni visited Tunisia twice last month, seeking progress in unblocking loans that she says are needed to avoid a financial crisis that might trigger a tsunami of departures. However, a review of migrant flows through Europe over the past decade suggests Italy might not benefit in the way Meloni hopes.
Persons: Meloni, King Canute, Giorgia Meloni, Mattia Diletti, Matteo Piantedosi, Matteo Villa, Ursula von der Leyen, Mark Rutte, ISPI's Villa, COVID, Michelangelo Agrusti, Crispian Balmer, Angelo Amante, Alex Richardson Organizations: Italian Coast Guard, REUTERS, Rome's Sapienza University . Immigration, Ministry, European, Dutch, European Commission, EU, Business, Thomson Locations: Italy, Tunisia, Libya, ROME, Europe, Lampedusa, AFRICA, Africa, North Africa, Tripoli, Brussels, Poland, Hungary, Rome
Wolfgang Kaehler | Lightrocket | Getty ImagesIndia is poised to become the world's second-largest economy by 2075, leapfrogging not just Japan and Germany, but the U.S. too, says Goldman Sachs. "Over the next two decades, the dependency ratio of India will be one of the lowest among regional economies," said Goldman Sachs Research's India economist, Santanu Sengupta. Sengupta added that the key to drawing out the potential of India's rapidly growing population is to boost the participation of its labor force. The Achilles heel to the bank's projection is the labor force participation rate — and whether it increases at the rate which Goldman projects. "The labor force participation rate in India has declined over the last 15 years," the report noted, underlining that women's participation rate in the labor force is "significantly lower" than men's.
Persons: Taj, Wolfgang Kaehler, leapfrogging, Goldman Sachs, Santanu Sengupta, Sengupta, Goldman, Downside Organizations: Lightrocket, Getty, India, U.S, Tech, Employees, Bloomberg, Nurphoto Locations: Japan, Germany, U.S, India, China, Nasscom, Greater Noida, piecework, Nagaland, Nurphoto
Turkish President Tayyip Erdogan arrives for a NATO summit in Madrid, Spain June 29, 2022. With much at stake for Turkey, Sweden, and the NATO alliance, whichever direction Turkey moves in will have significant consequences for them all. "Turkey's blockade on Sweden's NATO progression isn't a clear-cut ticket to economic fallout, but it is playing with fire," said Guney Yildiz, a researcher focused on Turkey and Syria. Russian President Vladimir Putin is expected to meet Turkey's President Recep Tayyip Erdogan on Thursday. "Either Turkey approves Sweden's NATO membership at Vilnius or it risks a major break in relations with the West and at a time when Turkey's macro is on the edge.
Persons: Tayyip Erdogan, Doce, , Joe Biden, Recep Tayyip Erdogan, Washington, Erdogan, Biden, Ryan Bohl, Rane, Guney, Syria Erdogan, Vladimir Putin, Kamal Alam, Christine Olsson, Alam, Guney Yildiz, Yildiz, Timothy Ash, Ash Organizations: NATO, Reuters NATO, Nordic, Ankara, Turkish, East, CNBC, Russia, Kurdish Workers ' Party, Atlantic Council, Kurdish Democratic Society Center, Afp, Getty, ISIS, EU, Anadolu Agency, BlueBay Asset Management, West Locations: Madrid, Spain, Vilnius, Lithuania, Sweden, Turkey, Hungary, EU, Ankara, Turkish, North Africa, Finland, Ukraine, Russia, Syria, Moscow, Kyiv, Stockholm, Kurdish, Europe, East Syria
July 6 (Reuters) - The world's largest emitters of carbon dioxide (CO2) and other greenhouse gases are coming under fresh scrutiny after global temperatures averaged 17.01 degrees Celsius (62.62 Fahrenheit) on Monday, the highest ever recorded. PRESSURE POINTSChina, the world's single largest CO2 polluter since 2005, has come under particular scrutiny after the country generated over 30% of global CO2 discharge in 2022, according to the Energy Institute Statistical Review of World Energy. CO2 emissions by key region since 1990India, already the world's third largest CO2 polluter in 2022, is seen increasing total CO2 discharge until 2040, while CO2 emissions in Indonesia - the seventh largest polluter last year - may not peak until 2050. Brazil, number 13 on the CO2 list in 2022, also looks set to keep CO2 discharge totals climbing over the coming years. However, each nation also has aggressive plans for reducing energy sector emissions and lowering reliance on fossil fuels.
Persons: Gavin Maguire, Kim Coghill Organizations: El, Energy Institute, World Energy, Centre for Research, Energy, Clean, Oxford Economics, Reuters, Thomson Locations: South, Southeast Asia, Northern China, North Africa, North America, El Nino, China, Japan, South Korea, United States, Germany, Europe's, North East Asia, South East Asia, India, Indonesia, Brazil, Turkey, Nigeria, Egypt, Mexico, The Philippines
National police said on Thursday night that officers faced new incidents in Marseille, Lyon, Pau, Toulouse and Lille, including fires and fireworks. The local prosecutor said the officer involved had been put under formal investigation over voluntary homicide and would be held in prison in preventive detention. Under France's legal system, being placed under formal investigation is akin to being charged in Anglo-Saxon jurisdictions. He said the officer had aimed down towards the driver's leg but was bumped, causing him to shoot towards his chest. The unrest has revived memories of riots in 2005 that convulsed France for three weeks and forced then-president Jacques Chirac to declare a state of emergency.
Persons: Emmanuel Macron, Pascal Prache, Mercedes, Nahel, Gonzalo Fuentes, Laurent, Franck Lienard, didn't, Lienard, Prache, Macron, Jacques Chirac, Benoit Van Overstraeten, Layli, Noemie Olive, Leigh Thomas, Michel Rose, Richard Lough, John Stonestreet, Frank Jack Daniel, Alexandra Hudson, Daniel Wallis, Gerry Doyle Organizations: Nike, National, Lille, Le Vieux Port, REUTERS, Reuters, Thomson Locations: France, Paris suburb NANTERRE, Algerian, Nanterre, Paris, Rivoli, Marseille, Lyon, Pau, Toulouse, France's, Le Vieux, Provence, Paris suburb, Clichy, Blanc Mesnil
Brisbane, Australia CNN —Li Cunxin, who found international fame for his remarkable rise from rural China to become one of the world’s leading ballet dancers, has announced his retirement as the artistic director of Queensland Ballet due to health issues. Li later moved to Australia with his former dancer partner, now wife, Mary Li, where they became a powerful creative force at Queensland Ballet, one of the country’s premier ballet companies. “When I think about what Li Cunxin has achieved in life, for his family in China, for his family around the world, for ballet, for Queensland, for Queensland Ballet, it is nothing short of sensational,” Clark said. Li was tempted back to the stage by the role at Queensland Ballet, which has doubled in size under his stewardship to 48 dancers, performing some of the world’s most challenging repertoires. Mary Li also works at the company as Ballet Mistress and Principal Repetiteur, and will also be retiring at the end of this season, the statement said.
Persons: Australia CNN — Li Cunxin, Li, Mao Zedong, Mary Li, ” Li, Brett Clark, Li Cunxin, ” Clark, , Queensland Ballet Li Cunxin, Brisbane Patrick Hamilton, Jiang Qing, Mao’s, Madame Mao, Mary McKendry, Repetiteur, Clark, Mary Organizations: Australia CNN, Queensland Ballet, Beijing Dance Academy, Consulate Locations: Brisbane, Australia, China, United States, Queensland, AFP, Qingdao, Shandong, Texas, American, Houston, Australian
People often want to know if an extreme weather event happened because of climate change, said Friederike Otto, climate scientist and co-lead of the World Weather Attribution initiative. And, more often than not, they are finding the clear fingerprints of climate change on extreme weather events. “We’re always going to have extreme weather, but if we keep driving in this direction, we’re gonna have a lot of extreme weather,” said Ted Scambos, a glaciologist at the University of Colorado-Boulder. Alexander Nemenov/AFP/Getty ImagesSiberian heat wave, 2020In 2020, a prolonged, unprecedented heat wave seared one of the coldest places on Earth, triggering widespread wildfires. A study from the journal Nature Climate Change found the period from 2000 to 2021 was the driest the West has ever been in 1,200 years, noting human-caused climate change made the megadrought 72% worse.
Persons: Friederike Otto, Otto, We’re, we’re, , Ted Scambos, Alexander Nemenov, Andrew Ciavarella, Kathryn Elsesser, San Salvador de la, Aitor De Iturria, ” Otto, Mamunur Rahman Malik, , Fadel Senna, Debarchan Chatterjee, Saeed Khan, koalas, David Paul Morris, Lake Powell, Hurricane Ian, Ricardo Arduengo, Ian, Lawrence, Abdul Majeed, António Guterres Organizations: CNN, University of Colorado -, Getty, UK’s Met, Oregon Convention, Northern, World Health Organization, South Asia, Bloomberg, Western, Stony Brook University, Lawrence Berkeley National Laboratory ., UN Locations: University of Colorado - Boulder, Siberia, AFP, Oregon, Portland, Pacific, . Oregon, Washington, Canada, British Columbia, Canadian, Lytton, San Salvador de, Cercs, Catalonia, Spain, North America, Europe, China, Dahably, Wajir County, Kenya, Africa, Horn of Africa, Somalia, Ethiopia, Masseoud, Morocco, Portugal, Algeria, Kolkata, India, South Asia, South, Vietnam, Myanmar, Laos, Bangladesh, Thailand, New South Wales, Australia, Oroville, Oroville , California, States, California, Lake Oroville, Lake Mead, Lake, Nevada, Arizona, Mexico, Hurricane, Matlacha , Florida, Caribbean, Florida, Swat, Bahrain, Khyber Pakhtunkhwa, Pakistan, Sindh, Balochistan
April 21 (Reuters) - Several lawsuits have been filed over the terms of last month's emergency deal to save Swiss lender Credit Suisse (CSGN.S) by selling it to its bigger rival UBS (UBSG.S). Around 16 billion Swiss francs of Additional Tier 1 (AT1) Credit Suisse debt was written down to zero, in a shock to markets. But it has declined to name claimants or provide an ongoing tally of those lodged by bondholders or their lawyers. UNITED STATESOne of the first proposed U.S. class action s against Credit Suisse over alleged false or misleading statements pre-dates the rescue. Credit Suisse declined to comment.
It is the first major lawsuit in the public domain to be filed over the Swiss decision to wipe out around $18 billion of Credit Suisse's Additional Tier 1 (AT1) debt during the 3 billion Swiss franc all-share rescue deal last month, which stunned markets and alerted litigators. The appeal against FINMA, the Swiss Financial Market Supervisory Authority that ordered the writedown, was filed on April 18 in the Federal Administrative Court in St Gallen, north east Switzerland. "FINMA's decision undermines international confidence in the legal certainty and reliability of the Swiss financial center," said Thomas Werlen, Quinn Emanuel's Swiss managing partner. FINMA declined to comment and Credit Suisse did not immediately respond to a Reuters request for comment. ($1 = 0.8941 Swiss francs)Reporting by Jahnavi Nidumolu in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.
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