Federal Reserve says it 'failed' in run up to Silicon Valley Bank collapse
Silicon Valley Bank's collapse set off a financial panic that led to the failure two days later of Signature Bank.
Silicon Valley Bank's collapse set off a financial panic that led to the failure two days later of Signature Bank.
President Joe Biden addressed the nation in a prime-time speech Friday after Congress averted an economically disastrous default with just days to spare by passing legislation to raise the nation's $31.4 trillion debt ceiling. The president, speaking from behind the Resolute Desk in his first Oval Office address, stressed that "unity" had made it possible. Biden signed the bill into law Saturday.
Joran van der Sloot, the prime suspect in the unsolved 2005 disappearance of American teenager Natalee Holloway, will likely be extradited to the United States soon, sources confirmed to ABC News. Van der Sloot left the Challapalca prison on Saturday as planned. Peruvian officials confirmed he began his transfer from Challapalca jail to another prison in Lima.
A 29-year-old man accused of fatally shooting a West Virginia state trooper is in police custody, according to the ATF's Louisville Office. Law enforcement responded to a shooting complaint in Mingo County, West Virginia, on Friday where they encountered Timothy Kennedy who began shooting at police. Troopers said they were met with gunfire when they responded to a shooting complaint near Matewan.
India’s top wrestling athletes -- Olympians and world champions alike -- have taken to the streets in protest of allegations of sexual harassment and intimidation by the Wrestling Federation of India (WFI) Chief, President Brij Bhushan Sharan Singh. The athletes accuse the WFI chief, 66, of sexual harassment over the span of more than a decades and have been staging protests in New Delhi -- which have slowly intensified -- since April 23. At least seven athletes -- including a minor -- have filed official complaints against Singh who has denied allegations, saying they are “politically motivated” and asserting that he is “ready to hang [him]self” if found guilty.
As Pride Month kicks off, the continuing anti-LGBTQ+ rhetoric and legislation that has grown over the past several years is on the minds of many people, and event organizers across the country say they have prepared for this and have implemented security protocols that ensure performers and attendees can have fun without fear. Cameron Jay Harrelson, the parade director for Georgia's Athens Pride, said that hosting such events in the deep South has always made organizers “hyper aware and hyper-focused” on safety. “That feels a little more heavy this year with the attacks that we've seen in legislation, in politics across the country,” Harrelson said.
Salespeople promoting Bud Light for a Florida–based distributor have grown accustomed to car horns, middle fingers and jokes amid a weekslong boycott, but say they have struggled to ignore thousands of dollars in lost commission pay, two sales supervisors at the distributor told ABC News. A typical salesperson at the distributor made roughly $2,000 less in May than he or she would have over each of the previous two years, suffering primarily from a decline in Bud Light sales that reached as much as 60% over the week ending on Memorial Day, the sales supervisors said. A consumer boycott of Anheuser-Busch InBev over a promotion in April from a trans influencer has pummeled the company's stock, but it has also brought financial pain for thousands of salespeople at independent distributors nationwide, many of whom depend largely on performance-based pay, former Anheuser-Busch InBev executive Anson Frericks told ABC News.
California cannabis users may soon not have to travel far to get a cup of coffee to go with their legal pot. The state's assembly passed a bill Wednesday that would allow California's localities the right to approve the sale of food and non-alcoholic drinks inside legal cannabis dispensaries. Current state law prohibits any food or beverage from being served in recreational marijuana dispensaries.
Perturbed by the stench entering his family home in Bahri, Khartoum North, Dr. Noah Madni and his remaining neighbors decided to remove the bodies amassing in the street themselves. "No one from the military or health ministry was coming to pick the bodies up," Madni told ABC News. Madni then shared pictures on Facebook, calling on friends and families to contact him if they saw a dead body.
Investigators are probing the digital footprint of Bryan Kohberger, the suspect accused of killing four Idaho college students in an early morning attack last year, according to new court documents. The documents include search warrant applications for some of Kohberger's internet activity and some additional phone records, as well as some of the four victims' social media accounts. There is "probable cause to believe" that those records could yield evidence regarding the November killings of Kaylee Goncalves, Xana Kernodle, Ethan Chapin and Madison Mogen at the girls' off-campus home in Moscow, Idaho, the documents say.
At least 200 people have been killed and hundreds more injured in a train accident in India, as the death toll continues to rise, officials said. The crash occurred Friday night in Odisha, a state in eastern India, and involved three trains, according to Odisha Chief Secretary Pradeep Jena. Several cars of a passenger train derailed in the incident, he said.
Attorneys for former President Donald Trump have been unable to locate the sensitive military document that Trump discussed on tape during a July 2021 meeting at his Bedminster, New Jersey, golf club, sources familiar with the matter tell ABC News. Federal investigators have the audio recording, on which Trump acknowledges he held onto a sensitive military document after leaving office, sources previously told ABC News. On the recording, which ABC News has not listened to nor obtained, Trump is heard attacking Joint Chiefs of Staff General Mark Milley and referencing one document in particular that Trump claimed Milley had compiled, according to sources.
A New York City man accused of fatally shooting an apparent assailant outside his apartment building now faces more than a dozen weapons charges after detectives allegedly discovered an arsenal of firearms and body armor in his home, court records show. Charles Foehner, 65, was arrested on multiple counts of criminal possession of a weapon on Thursday -- a day after police say he shot and killed a 32-year-old man outside a parking garage in Queens. Foehner has not been charged for the shooting itself.
Former President Donald Trump on Friday asked the judge overseeing his criminal prosecution in New York City to step aside, citing the judge's daughter's ties to a Democratic organization. Judge Juan Merchan is presiding over the case, in which Trump is charged with 34 felony counts of falsifying business records in connection to a hush payment to adult film actress Stormy Daniels just before the 2016 election. Trump has pleaded not guilty to all charges.
Three people have been killed and three others injured in a Northern California crime spree, the motive for which authorities say remains under investigation. The suspect, 31-year-old Kevin Parkourana of San Jose, was taken into custody following the Thursday afternoon attacks. The spree began at about 3:11 p.m. when Parkourana allegedly stabbed and carjacked a victim in San Jose, according to police.
Branneisha Cooper of Texas said she was diagnosed during her senior year of high school with polycystic ovary syndrome, or PCOS, a reproductive hormone imbalance that can cause problems with the menstrual cycle and lead to the formation of multiple ovarian cysts and infertility, according to the U.S. Office on Women's Health. The exact cause of PCOS is unknown, but people with this condition have higher levels of androgens, such as testosterone, and insulin that can lead to insulin resistance which is a risk factor for Type 2 diabetes. Cooper, now 26, said she suffered for over a decade with irregular menstrual cycles, hormonal imbalances and weight gain.
COVID-19 cases may be increasing again in New York City, new wastewater data hints. Nearly all of the 14 wastewater treatments plants in the city are currently in the "high" detection level category, meaning likely 50 or more cases per 100,000 people, according to the NYS Wastewater Surveillance Network dashboard, which was updated Friday. What's more, two-week trend data shows that just three of the plants are seeing decreases in virus detection.
President Joe Biden has successfully fended off calls from his opponents for him to participate in primary debates, a move that would be unprecedented in recent memory. Democrats have so far opted to tune out the primary challenges levied against him, with the Democratic National Committee throwing its support behind Biden. As former President Donald Trump sought re-election in 2020, the Republican National Committee didn’t hold primary debates, nor did former President Barack Obama during his second bid.
Tennis superstar Naomi Osaka is pregnant with a girl. Osaka, 25, shared photos on social media from her baby shower, posing in front of a sign that reads, "A little princess is on the way." Osaka previously confirmed her pregnancy in January, sharing a photo on Twitter of an ultrasound.
"Top Chef" host and executive producer Padma Lakshmi announced Friday that she will be leaving the culinary competition TV show at the end of the current season. Lakshmi, 52, took to Instagram to share the news with her followers, writing, "After much soul searching, I have made the difficult decision to leave Top Chef." "Having completed a glorious 20th season as host and executive producer, I am extremely proud to have been part of building such a successful show and of the impact it has had in the worlds of television and food," she continued.
Ethnic cleansing campaigns have continued in Ethiopia's Tigray region, despite a November 2022 peace agreement, according to a new report by Human Rights Watch. "The November truce in northern Ethiopia has not brought about an end to the ethnic cleansing of Tigrayans in Western Tigray Zone," Laetitia Bader, deputy Africa director for Human Rights Watch, said in a statement. "If the Ethiopian government is really serious about ensuring justice for abuses, then it should stop opposing independent investigations into the atrocities in Western Tigray and hold abusive officials and commanders to account."