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North Korea says it simulated nuclear attacks on South Korea and rehearsed occupation of its rival

Published Tue, 25 Feb 2025 10:06:42 GMT

SEOUL, South Korea (AP) — North Korea said Thursday its latest missile launches simulated “scorched earth” nuclear strikes on South Korea and that it’s also been rehearsing an occupation of its rival’s territory in the event of conflict.Pyongyang has previously tested nuclear-capable missiles and described how it would use them in potential wars with South Korea and the U.S. But the North’s disclosure of detailed war plans reaffirmed its aggressive nuclear doctrine to intimidate its opponents, as it escalates its protest of the ongoing South Korean-U.S. military exercises that it views as a major security threat, observers say.North Korea’s military said it fired two tactical ballistic missiles from the capital on Wednesday night to practice “scorched earth strikes” at major command centers and operational airfields in South Korea, according to the official Korean Central News Agency.The North’s military said the missiles carried out their simulated strikes through air bursts,...

A building fire has killed at least 58 people, many homeless, in Johannesburg, authorities say

Published Tue, 25 Feb 2025 10:06:42 GMT

JOHANNESBURG (AP) — At least 58 people died when a fire ripped through a multi-story building in Johannesburg that had been overtaken by homeless people, emergency services said Thursday.Spokesman Robert Mulaudzi said another 43 people were injured in the blaze that broke out in the predawn hours. He said the death toll was likely to still increase in what he described as effectively “an informal settlement.”“Over 20 years in the service, I’ve never come across something like this,” Mulaudzi said.A search and recovery operation was underway and firefighters were moving through the building, Mulaudzi said. The team had pulled 58 bodies out so far, he said, adding that more might be trapped inside.At least one child was among the dead, Mulaudzi said.Authorities said the fire had been largely extinguished, but smoke still seeped out of windows of the blackened building downtown. Strings of sheets and other materials also hung out of some windows. It was not clear if people had used tho...

Stock market today: Asian markets lower after Japanese factory activity and China services weaken

Published Tue, 25 Feb 2025 10:06:42 GMT

BEIJING (AP) — Asian stock markets were mostly lower Thursday after Japanese factory activity and Chinese service industry growth weakened.Shanghai, Hong Kong and Seoul declined. Tokyo gained. Oil prices edged lower.Wall Street’s benchmark S&P 500 index rose 0.4% on Wednesday after the U.S. government cut its estimate of economic growth for the second quarter to a still-robust level.Traders hope that and this week’s updates on hiring and consumer inflation will convince the Federal Reserve prices are under control and no more interest rate hikes are needed.Official data showed Japanese factory activity shrank by 2% from the previous month in July. A survey of Chinese service industries showed activity weakened in July but still was expanding.“Things could be worse. But markets are not likely to take too much comfort from this set of data,” said Rob Carnell of ING in a report.The Shanghai Composite Index lost 0.6% to 3,119.06 while the Nikkei 225 in Tokyo advanced 1% ...

UBS reports huge 2Q profit skewed by Credit Suisse takeover, foresees $10B in cost cuts

Published Tue, 25 Feb 2025 10:06:42 GMT

GENEVA (AP) — Swiss bank UBS announced Thursday plans to save $10 billion in costs as it moves ahead with “full integration” of longtime rival Credit Suisse’s domestic operations, as UBS released its first earnings report since the government-orchestrated merger to help stave off a possible global financial meltdown.The announcement came as the Zurich-based bank reported a whopping $29 billion in pre-tax profit in the second quarter. But underlying profit before taxes came in at $1.1 billion, which excludes some $29 billion in negative goodwill, integration costs and other impacts of the Credit Suisse takeover.In a separate statement, Credit Suisse, calling itself a UBS subsidiary following the completion of the deal on June 12, announced a loss of 8.9 billion Swiss francs ($10.1 billion) as it wrapped up its accounting for all of 2023.UBS appeared to make no mention of one of the major outstanding questions: how many of Credit Suisse’s 50,000 employees would be kept on....

Tampa Bay area gets serious flooding but again dodges a direct hit from a major hurricane

Published Tue, 25 Feb 2025 10:06:42 GMT

Last year it was Hurricane Ian that drew a bead on Tampa Bay before abruptly shifting east to strike southwest Florida more than 130 miles (210 kilometers) away. This time it was Hurricane Idalia, which caused some serious flooding as it sideswiped the area but packed much more punch at landfall Wednesday, miles to the north.In fact, the Tampa Bay area hasn’t been hit directly by a major hurricane for more than a century. The last time it happened, there were just a few hundred thousand people living in the region, compared with more than 3 million today.“Tampa Bay avoided the worst again,” Brian McNoldy, a senior research associate at the University of Miami’s Rosenstiel School of Marine, Atmospheric and Earth Science, said via email. “A lot of it comes down to luck. It’s happened before ( 1848, 1921 ) and will happen again.” Many in the area live in low-lying neighborhoods that are highly vulnerable to storm surge and flooding they have rarely before experienced, which some ...

With an election looming, New Zealand lawmakers wrap up rowdy final session

Published Tue, 25 Feb 2025 10:06:42 GMT

WELLINGTON, New Zealand (AP) — New Zealand lawmakers rushed Thursday to pass legislation and criticize opponents during a rowdy final day of the nation’s 53rd Parliament.With an election looming in six weeks, lawmakers will now switch focus to the campaign trail. Opinion polls indicate the opposition conservatives hold a slight edge over the incumbent liberals.Lawmakers took just two hours to introduce and pass a new bill to ensure some violent sexual offenders will be kept under long-term supervision. Then a fiery debate session began, with loud cheers, laughter and groans. At one point, environmental protesters interrupted by unfurling a banner saying there were too many cows, before security guards escorted them out. Nicola Willis, deputy leader of the opposition, took aim at Grant Robertson, the finance minister.“Does he think he has been a good steward of taxpayers’ money when government spending is up 80%, our hospitals are in crisis, educational achievement is in ...

Tropical Storm Idalia descends on North Carolina after pounding Florida, Georgia and South Carolina

Published Tue, 25 Feb 2025 10:06:42 GMT

PERRY, Fla. (AP) — Tropical Storm Idalia descended on the Carolinas on its way out to the Atlantic Ocean on Thursday, leaving a trail of flooding and destruction throughout the Southeast that stretched back to its landfall as a hurricane in Florida.Rescue and repair efforts continued in the areas the storm passed Wednesday and there was no immediate word on the toll from the ferocious winds and inundating waters, but authorities counted at least one death.The storm left as many as a half-million customers without power in Florida and other states at one point as it ripped down power poles and lines. Still, it was far less destructive than feared, providing only glancing blows to Tampa Bay and other more populated areas as it came ashore with 125 mph (201 kph) winds in rural Florida.The weakening storm still packed winds of up to 60 mph (96 kph) as it blasted through Georgia and South Carolina on Wednesday evening. It was expected to reach the North Carolina coast Thursday and roll o...

Commission clears acquisition of Universo IME by Sonae and Bankinter

Published Tue, 25 Feb 2025 10:06:42 GMT

The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control of Universo IME S.A. by Sonae SGPS S.A., both of Portugal, and Bankinter Consumer Finance E.F.C. S.A. (‘BKCF') of Spain.Universo IME is active in payment services to consumers, credit intermediation for consumer loans granted by third parties as well as in merchant acquiring services for retailers. Sonae is primarily active in food and non-food retail as well as in consumer finance and insurance. BKCF is mainly active in retail banking.The Commission concluded that the proposed acquisition would raise no competition concerns, given the limited horizontal overlaps and vertical links between the activities of Sonae and BKCF in the European Economic Area. The transaction was examined under the simplified merger review procedure.More information is available on the Commission's competition website, in the public case register under the case number M.11130.

Two killed in Scotts Valley traffic collision

Published Tue, 25 Feb 2025 10:06:42 GMT

SCOTTS VALLEY – Two people were killed in a crash Wednesday afternoon in Scotts Valley, police said.The collision happened around 4:50 p.m. near Mount Hermon Road and Skypark Drive.Police closed Mount Hermon Road in both directions between Skypark Drive and Lockhart Gulch Road for an investigation. The roadway was reopened around 9:40 p.m.“We thank everyone for their patience dealing with the additional traffic delays,” the Scotts Valley Police Department said in a statement. “Unfortunately, the collision resulted in two fatalities.”Additional details about the crash were not immediately available Wednesday night.Related ArticlesCrashes and Disasters | Person standing outside van on I-580 shoulder fatally hit by SUV Crashes and Disasters | Elderly woman dies of injuries suffered in Aug. 21 South Bay crash Crashes and Disasters | Man dies after crashing stolen car into San Jose creek Crashes and Disasters | 3 rideshare passen...

Deputies nab 2 suspects in attempted bank robbery in San Leandro, hit-and-run of minor

Published Tue, 25 Feb 2025 10:06:42 GMT

(BCN) -- Two men have been arrested on suspicion of robbing a bank and the hit-and-run of a juvenile in San Lorenzo, the Alameda Sheriff's Office said Wednesday. Kevin Perry, 21, and Dewey Nguyen, 21, were arrested on suspicion of the attempted robbery of a Citibank and the felony hit-and-run of a juvenile in a crosswalk. Teen struck by fleeing bank robber’s car in San Lorenzo Police were initially searching for an unknown male in a dark hoodie and mask who entered the Citibank on Paseo Grande on Monday and passed a note demanding $20,000, "or the bank would be blown up," police said. A second man in his early 20s with a slender build, wearing all-black clothing, a black backpack and red and black shoes acted as a lookout. Both men left the bank before any money was surrendered, police said. The suspects got into a blue Ford Taurus and a brief vehicle pursuit by police ensued, but was ended for public safety after the suspects struck a juvenile walking across th...