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Ex-Goldman banker gets 10-year sentence in 1MDB looting plot

Published Tue, 25 Feb 2025 11:45:10 GMT

By BOBBY CAINA CALVAN (Associated Press)NEW YORK (AP) — A former Goldman Sachs banker was sentenced Thursday to 10 years in prison for his role in looting a Malaysian sovereign wealth fund of billions of dollars used to finance lavish parties, a superyacht, premium real estate and even the 2013 film “The Wolf of Wall Street.”Roger Ng was convicted last April by a U.S. District Court jury in Brooklyn, but he continues to deny charges that he conspired to launder money and violated two anti-bribery laws.Prosecutors said Ng and his co-conspirators helped the Malaysian fund, known as 1MDB, to raise $6.5 billion through bond sales — only to participate in a scheme that siphoned off more than two-thirds of the money, some of which went to pay bribes and kickbacks.Reading from a prepared statement, Ng pleaded for mercy from U.S. District Judge Margo Brodie.“I’m embarrassed. I’m ashamed,” he told the judge. “I don’t want to live in...

California professor puts Marvel’s newest Black superhero back in the spotlight

Published Tue, 25 Feb 2025 11:45:10 GMT

A new Black superhero has entered the Marvel comics universe, thanks to the vision and writings of a UC Riverside professor.Dr. Al B. Harper, a physicist and friend of the Silver Surfer, is one of Marvel’s original Black characters, first appearing in “Silver Surfer #5,” which was published in 1969.Harper’s character — originally created by late Marvel comics legends Stan Lee and John Buscema  — has come back to life as a cosmic superhero in a new mini-series, “Silver Surfer: Ghost Light,” created by graphic novelist John Jennings and artist Valentine De Landro.Jennings, the writer, is a professor of media and cultural studies at UC Riverside who has been involved with local exhibitions that showcase Black comic book heroes. He said the character of Ghost Light has been nearly 60 years in the making.The cover of Marvel’s new mini-series “Silver Surfer: Ghost Light #1,” which hit stores in February, features the character Al B. Harper, a Black physicist who sacrific...

In search of next level within, Jared Verse puts NFL on hold to return to FSU

Published Tue, 25 Feb 2025 11:45:10 GMT

Jared Verse spent last week watching the NFL Scouting Combine, not as a participant but as an observer.It wasn’t exactly the way many assumed the talented Florida State edge rusher would make his presence known. At one point, the 6-foot-4, 253-pound defensive end was projected as a first-round selection after a stellar first FBS season in which he led the team in tackles for loss (16.5), sacks (9) and blocked kicks (1).He received an 81.2 grade from Pro Football Focus which is better than most of the edge rushers projected in the first and second rounds of the NFL draft outside of Alabama’s Will Anderson Jr. (83.6) and USC’s Tuli Tuipulotu (82.1).Despite the lure of a multimillion contract, Verse returned to the Seminoles in 2023.“I always wanted him to feel like he was doing what was best for himself,” said defensive ends coach John Papuchis. “So when it came time for him to make that decision, I made a conscious effort not to weigh in too much o...

Colbie Young poised to be key playmaker in Hurricanes’ new offense

Published Tue, 25 Feb 2025 11:45:10 GMT

Last season, the Hurricanes searched for a playmaking wide receiver to replace the production they lost when Mike Harley Jr. and Charleston Rambo left for the NFL. For two games, it looked like Colbie Young was going to be that playmaker.Young had two excellent games against Virginia Tech and Duke, but after quarterback Tyler Van Dyke suffered a shoulder injury that kept him out for most of the rest of the 2022 campaign, Miami’s offense faltered and Young’s production slowed.Entering his second season with the Hurricanes, Young may take a step forward and become a major difference in Miami’s passing game.“He’s really taken a step as a leader in the wide receiver room,” Van Dyke said on the first day of UM’s spring practices. “I’m excited for him. He’s a guy that’ll go up and get the ball. He’s fast for his size and he’s grown a lot from last season until now, and he’s still going to grow.”Young...

Ticker Mortgage rates continue climb; Applications jump for jobless aid

Published Tue, 25 Feb 2025 11:45:10 GMT

The average long-term U.S. mortgage rate rose for the fifth straight week to its highest level since breaching 7% in November, just as the spring buying season gets ready to kick off.Mortgage buyer Freddie Mac reported Thursday that the average on the benchmark 30-year rate climbed to 6.73% from 6.65% last week. The average rate a year ago was 3.85%.The average long-term rate hit 7.08% in the fall — a two-decade high — as the Federal Reserve continued to raise its key lending rate in a bid to cool the economy and quash persistent, four-decade high inflation.At its first meeting of 2023 in February, the Fed raised its benchmark lending rate by another 25 basis points, its eighth increase in less than a year. That pushed the central bank’s key rate to a range of 4.5% to 4.75%, its highest level in 15 years. Many economists expect at least three more increases before the end of the year.Sales of existing homes have fallen for 12 straight months to the slowest pace in more than a ...

The cherry blossoms are back in Balboa Park. Here's how to enjoy them

Published Tue, 25 Feb 2025 11:45:10 GMT

SAN DIEGO -- As spring sets in, one of San Diego's most beloved Balboa Park traditions is back: the Japanese Friendship Garden's annual Cherry Blossom Festival.Rooted in the Japanese tradition of hanami, or flower viewing, the time to enjoy the garden's beautiful and ephemeral blossoms is this weekend only. Here’s how to enjoy this season’s wildflower bloom in San Diego The garden will be open Friday through Sunday from 10 a.m. to 7 p.m. Last admission will be at 5 p.m.While visitors can stroll the upper and lower gardens, a variety of performances and fun activities will be hosted by the Friendship Garden, including a children's area in the lower garden with games. Guests can also browse and ship from over 25 different food and merchant vendors throughout the garden and for guests 21 and over, the beer and sake will be offered in the Inamori Pavilion.Tickets can be purchased online. General admission is $14, while VIP tickets for guests looking for a shorter wait time to enter, ...

Los Angeles police ID gunman in shooting of 3 officers

Published Tue, 25 Feb 2025 11:45:10 GMT

LOS ANGELES (AP) — Los Angeles police on Thursday identified the suspect who allegedly shot and wounded three officers as a 32-year-old wanted parolee who was found dead hours after the standoff.The officers, all senior officers and members of a Los Angeles Police Department K-9 dog-handling unit, remained hospitalized in stable condition after Wednesday night’s shooting in the Lincoln Heights neighborhood near downtown.The gunman was identified as Jonathan Magana. The coroner’s office will determine whether he died by suicide or was shot by police during the confrontation.The board of directors for the Los Angeles Police Protective League, the union that represents the LAPD’s rank-and-file, in a statement Thursday said the three officers are “on the path to a full physical recovery.”“Although we believe they will recover physically, each of these officers will live with the memory of almost losing their lives at the hands of a wanted fugitive in a hail of gunfire,...

Biden to visit Canada this month to discuss defense, trade

Published Tue, 25 Feb 2025 11:45:10 GMT

WASHINGTON (AP) — President Joe Biden will visit Canada later this month, the White House announced on Thursday, where he’ll address the country’s parliament and meet with Canadian Prime Minster Justin Trudeau.A key point on the agenda will be modernizing the North American Aerospace Defense Command, which monitors the skies above the continent. The defense partnership was in the spotlight recently when NORAD tracked a suspected Chinese spy balloon that passed over the two countries before being shot down over the coast of South Carolina.A U.S. fighter jet later shot down an unidentified flying object in Canadian airspace.White House press secretary Karine Jean-Pierre said Biden will be joined by first lady Jill Biden and they’ll spend March 23 and 24 in Ottawa. She said the trip “will reaffirm the United States’ commitment to the U.S.-Canada partnership and promote our shared security, shared prosperity, and shared values.”Biden and Trudeau plan to discuss the ong...

S&P/TSX composite falls more than 250 points Thursday, U.S. markets slide

Published Tue, 25 Feb 2025 11:45:10 GMT

TORONTO — Canada’s main stock index fell more than one per cent Thursday with weakness in financials, industrials and telecom helping bring the market down.The S&P/TSX composite index was down 259.81 points at 20,086.72.In New York, the Dow Jones industrial average was down 543.54 points, or 1.7 per cent, at 32,254.86. The S&P 500 index was down 73.69 points, or 1.9 per cent, at 3,918.32, while the Nasdaq composite was down 237.65 points, or 2.1 per cent, at 11,338.35.The Canadian dollar traded for 72.52 cents US compared with 72.54 cents US on Wednesday.The April crude contract was down 94 cents at US$75.72 per barrel and the April natural gas contract was down a penny at US$2.54 per mmBTU.The April gold contract was up US$16.00 at US$1,834.60 an ounce and the May copper contract was up a penny at US$4.04 a pound.This report by The Canadian Press was first published March 9, 2023.Companies in this story: (TSX:GSPTSE, TSX:CADUSD=X)The Canadian Press

U.S. President Joe Biden’s long-awaited Canada visit to happen March 23-24

Published Tue, 25 Feb 2025 11:45:10 GMT

WASHINGTON — U.S. President Joe Biden will travel to Ottawa on March 23 to meet with Prime Minister Justin Trudeau on Canadian soil, his first visit north of the border since taking the oath of office in 2021. The White House said the president and his wife Jill Biden will spend two days in Canada, although a detailed itinerary has not yet been released.The two leaders will discuss an ongoing upgrade of the jointly led Norad continental defence system, which came under heavy scrutiny last month following the discovery of a Chinese surveillance balloon over U.S. and Canadian airspace. They will also discuss how to fortify shared supply chains, combat climate change and “accelerate the clean energy transition,” the White House said in a statement. Biden will also address a joint session of Parliament “to highlight the importance of the United States-Canada bilateral relationship.”A visit to Canada is customarily one of a new U.S. president’s first foreign...