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Intel calls off $5.4b Tower deal after failing to obtain regulatory approvals

Published Tue, 25 Feb 2025 11:24:31 GMT

HONG KONG (AP) — Intel will terminate a $5.4 billion deal to acquire Israeli chip manufacturer Tower Semiconductor after China failed to sign off on the deal amid rising tensions with the United States. It was a mutual decision between Intel and Tower, the companies said Wednesday. Intel said that the deal was terminated “due to the inability to obtain in a timely manner the regulatory approvals required under the merger agreement.”Intel Corp. will pay Tower a termination fee of $353 million, the U.S. semiconductor giant said.The deal required regulatory approval from several regulators worldwide including China, but Chinese regulators did not greenlight the deal by the Aug. 15 transaction deadline, even after Intel CEO Patrick Gelsinger traveled to China last month in a bid to win them over.The scuttled deal between the two companies comes amid increasing U.S.-China tensions, particularly as the U.S. has tightened export controls and imposed restrictions aimed at crippling China’s ...

Czechs ratify defense treaty with US that makes it easier to deploy US troops in Czech territory

Published Tue, 25 Feb 2025 11:24:31 GMT

PRAGUE (AP) — The Czech Republic on Wednesday completed the ratification of a defense treaty with the United States that deepens military cooperation and makes it easier to deploy U.S. troops in Czech territory.Czech Prime Minister Petr Fiala’s signature was the final step in the ratification process of the Defense Cooperation Agreement, which had been endorsed by both houses of Parliament in July and by President Petr Pavel on Aug 1.The document sets a legal framework for possible deployment of U.S. troops in the country at a time of Russian aggression against Ukraine.Czech Defense Minister Jana Cernochova signed the treaty together with U.S. Defense Secretary Lloyd Austin in Washington, D.C. on May 23. The U.S. has similar agreements with 24 other NATO members, including Poland, Slovakia, Hungary, Lithuania, Latvia, Estonia, Romania and Bulgaria that form the eastern flank of the alliance.Any deployment of U.S. forces would still need approval by the Czech government and Par...

3 ways to stretch your dollar on a European vacation in 2023

Published Tue, 25 Feb 2025 11:24:31 GMT

European travel is — by some metrics — bigger this year than it was pre-pandemic. In the first six months of 2023, 43% more Americans flew to Europe compared to the same period in 2022 and 4% more than the same period in 2019. Those figures come from the U.S. Department of Commerce’s International Trade Administration, or ITA, data.While bigger crowds generally mean higher prices, there’s another reason why travelers should brace for European travel to be expensive this year: inflation. Soaring inflation has, by some metrics, hit harder in Europe than in the U.S.The yearly rate of inflation in the U.S. rose 3% in June 2023, according to May consumer price index data. But in the European Union, the annual inflation rate rose 6.4% in June 2023, according to Eurostat, the statistical office of the European Union.So while you should expect European travel to be expensive and crowded this year, a few strategies can make a European vacation more affordable.1. SAVE MONEY BY LOOKING TO SECO...

Wednesday Forecast: Temps in mid 80s with chance of scattered showers tonight

Published Tue, 25 Feb 2025 11:24:31 GMT

CHICAGO — Wednesday will be sunny with highs in the lower 80s inland and upper 70s near the lake.  Clouds increase tonight leading to chance for scattered showers late as temperatures fall into the mid-60s.  Interactive Radar: Track showers and storm here Thursday Forecast: Scattered showers and isolated showers are possible on Thursday morning.  The clouds decrease in the afternoon, with breezy west, northwest winds keeping highs near 80 degrees.Full forecast details and more at the WGN Weather Center blog

School bus driver shortage plagues first week back to class

Published Tue, 25 Feb 2025 11:24:31 GMT

(The Hill) -- The wheels on the bus are going nowhere.From California to New York, school districts struggled their first week back as parents and students tried to navigate delays and cancellations caused by school bus driver shortages. While teacher shortages have been making national headlines, less attention has been paid to the deficit of bus drivers, which in some cases has shut down entire districts for days at a time. The problems are endless, according to experts, who say the industry is facing a changing workforce, licensing issues, trouble with student behavior and obstacles with pay and scheduling.“The school bus driver shortage actually has been going on for quite a few years. It is more acute now than it was prior to the pandemic, but there has been steadily this issue growing across the country. And I think there are a lot of things that contribute to it,” said Molly McGee-Hewitt, executive director and CEO of the National Association for Pupil Transportatio...

Watching the Gulf: tropical low could bring rain

Published Tue, 25 Feb 2025 11:24:31 GMT

AUSTIN (KXAN) -- Despite a pleasantly cooler morning, afternoon highs will waste no time climbing into the 90s and low 100s today.With most of nearing 100° or hotter this afternoon, a few more counties have been placed under a Heat Advisory (12 p.m. to 9 p.m.). Mainly sunny and dry skies will stretch areawide with one more day of low humidity before southerly winds kick in.Heat Advisory in effect 12 p.m. to 9 p.m. WednesdayLow humidity will lead to another afternoon of very high fire danger across Central TexasThursday will bring uncomfortably hot and recording-breaking temperatures with the return of Excessive Heat Warnings likely.Tropical system may impact Texas next weekOdds of a tropical depression forming in the Gulf are currently low but increasing early next week, with a potential impact to Texas. A tropical low will attempt to further organize over the Central Gulf this weekend before pushing onshore early next week. Watching for tropical development in the GulfIt is too soo...

QUIZ: Back to school with the KXAN team

Published Tue, 25 Feb 2025 11:24:31 GMT

AUSTIN (KXAN) -- As all of the kids in the Austin area and surrounding counties head back to school, it's time to snap those first-day photos!As a way to have some fun with our viewers, we decided to ask members of our KXAN team to send us their school photos. Sorry, you are using an unsupported browser. This page will not display correctly. Please click here to upgrade to a newer browser. /**/How well do you think you know our KXAN team? Just like in grade school, you will either score an 'A+,' 'B,' 'C' or 'D.'We hope you enjoy the guessing game!

Bloomington woman sentenced to more than 7 years of prison for pandemic fraud

Published Tue, 25 Feb 2025 11:24:31 GMT

A Bloomington woman was sentenced to 7½ years in prison and ordered to pay $4.7 million in restitution for defrauding federal pandemic programs, according to the U.S. attorney’s office in Minneapolis.Tequisha Solomon, 40, defrauded the government by obtaining unemployment benefits from several states from June 2020 through January 2022, according to court documents.She received pandemic assistance from Minnesota, California, Illinois and Nevada when she didn’t live in those states at the time.In addition, she charged other individuals as much as $2,000 to help them defraud states with false applications for assistance.In total, court documents show she fraudulently applied for $7.15 million in pandemic-related funds. At least $4.7 million was paid out in fraudulent unemployment benefits and small business loans.Solomon pleaded guilty Dec. 13 to one count of wire fraud. She was sentenced Tuesday in U.S. District Court.Related ArticlesCrime & Public Safety | ...

CCSO: Suspect escapes town court, located shortly after

Published Tue, 25 Feb 2025 11:24:31 GMT

CLAVERACK, N.Y. (NEWS10) -- According to the Columbia County Sheriff's Office, a suspect reportedly escaped from the Claverack Town Court on Tuesday after being remanded to the custody of the sheriff. The suspect was found shortly after with the aid of several agencies. Get the latest news, weather, sports and entertainment delivered right to your inbox! Deputies say the suspect managed to escape around 5 p.m. A search of the area was done by the Columbia County Sheriff’s Office, New York State Police, New York State Forest Rangers, the City of Hudson Police Department, and the Village of Philmont Police Department. The suspect was taken into custody without incident.Deputies say there is no threat to the public at this time. The sheriff's office is expected to release more information as the investigation continues.

Missouri Task Force 1 flying to Hawaii to help in wildfire recovery efforts

Published Tue, 25 Feb 2025 11:24:31 GMT

ST. LOUIS - A team from Missouri Task Force 1 is sending four people and four canines to help with recovery efforts in Maui.FOX 2's Laura Simon spoke with Missouri Task Force 1 Canine Handler Cathy Schiltz about how their team will help with the recovery mission. Sidewalk repairs trap 92-year-old woman in her home "Our dogs that we're bringing out there on this mission are all human remains detection dogs, so they're trained specifically to find human remains," Schiltz shared.The crew is set to leave St. Louis Lambert International Airport a little after 7:00 a.m. It's unknown how long the group will be deployed.