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Sung Kook "Bill" Hwang's criminal racketeering trial over the collapse of Archegos Capital Management begins on Wednesday with the selection of jurors who will decide if he and a deputy broke the law in a massive stock scheme that unraveled in just days in 2021. The trial in Manhattan federal court is expected to last up to eight weeks and will delve into the implosion of Hwang's lightly regulated family investment office, which prosecutors allege caused more than $100 billion in shareholder losses at companies in its portfolio. Federal prosecutors accuse Hwang of using derivatives to secretly amass positions in multiple stocks that were so large they eclipsed that of the companies' largest investors, driving up stock prices.
Stormy Daniels took the witness stand on Tuesday at Donald Trump’s criminal trial and described in lurid detail her alleged 2006 sexual encounter with the former U.S. president. Trump has pleaded not guilty to Manhattan prosecutors’ charges he falsified business records to cover up his former lawyer’s $130,000 payment to Daniels, whose real name is Stephanie Clifford, for her silence before the 2016 election. Daniels appeared at ease in recounting for the jury her story of a sexual encounter with Trump in a Lake Tahoe hotel room in 2006.
The late U.S. civil rights leader and journalist Daisy Bates, who was instrumental in desegregating Arkansas public schools in the 1950s, will be honored on Wednesday when a statue of her is unveiled at the U.S. Capitol. The bronze statue depicts Bates, who died in 1999 at the age of 84, with a newspaper in one hand and a notebook and pen in the other. It will be joined later this year by another Arkansas entry, honoring the late singer Johnny Cash, according to the office of House of Representatives Speaker Mike Johnson.
TC Energy's planned oil pipeline spin-off is a bet that it can supply more Canadian crude to U.S. Gulf of Mexico refiners, but the venture faces stiff competition and will carry high debt when it starts up. The South Bow spin-off, which TC investors will vote on June 4, will help Calgary, Alberta-based TC lower its own high debt load and focus on moving natural gas. South Bow's entry comes as Canada, the fourth-largest global oil producer, gains expanded options for moving crude.
The recent meme stock moment might be thought of as an indication that exuberance has once again gone too far. But this time, a closer look at seven key meme stocks shows that it might be a perfectly good sign for the market.
Russia accused Germany on Wednesday of using baseless myths about Russian hackers to escalate tensions and said Berlin's decision to recall its ambassador would lead to further deterioration of bilateral ties. Germany said it had recalled its ambassador to Russia for consultations after Berlin accused Moscow of launching cyberattacks on its defence and aerospace firms and ruling party. "Berlin regularly exploits the myth of malicious activity of allegedly Russian hackers in Germany, this is done to escalate tensions in bilateral relations," Russian Foreign Ministry Spokeswoman Maria Zakharova said.
Police began to clear a Pro-Palestinian tent encampment at George Washington University in Washington, D.C., early Wednesday, hours after dozens of protesters left the site and marched to President Ellen Granberg’s home. “Officers gave their third and final warning to demonstrators to move at about 3:30 a.m., saying all who remained in U-Yard and the stretch of H Street in front of the plaza would be arrested,” according to GW Hatchet, the university’s independent student-run newspaper. University officials had warned in statements of possible suspensions for students engaging in protest activities on University Yard.
Two paintbrushes between the toes, two in her hands, and fierce concentration etched on her face, Dutch artist Rajacenna van Dam is crafting 10 paintings at the same time.She is so skilled that only she can tell the difference between paintings crafted with her hands and those with her feet.
Ukraine on Wednesday warned of possible power shutdowns across the country after a "massive" wave of Russian missiles and drones targeted the battered Ukrainian energy system. Russia launched 55 missiles and 21 attack drones at Ukraine overnight, the air force said on Telegram, adding it intercepted 39 missiles and 20 drones.
Russia said on Wednesday that sending NATO troops into Ukraine would potentially be extremely dangerous, and Moscow was closely watching a Ukrainian petition that called for such an intervention. The petition, posted on the Ukrainian president's website, says Ukraine should ask the United States, Britain and other countries to send troops to help it repel Russia's invasion. "The Kyiv regime is quite unpredictable," Kremlin spokesman Dmitry Peskov said when asked about it at his daily briefing.
President Joe Biden is racing into yet another battleground state Wednesday, continuing to push a contrast with Donald Trump on economic policy as his own reelection campaign readies a new $14 million advertising blitz aimed in part at Black, Latino and Asian American voters. Biden is traveling to Racine, Wisconsin, where he'll highlight a decision by Microsoft to build a $3.3 billion data center that is expected to create roughly 2,000 jobs. It's also the same spot where Trump, to much fanfare, lauded a plan by Taiwan-based electronics giant Foxconn plan to build a $10 billion manufacturing facility that was supposed to eventually employ 10,000 people.
President Joe Biden will visit the political battleground state of Wisconsin on Wednesday to announce plans by Microsoft Corp to build a $3.3 billion high-tech data center that will create thousands of jobs, the White House said. The Microsoft facility in Racine County, in southeastern Wisconsin, will be built on the same land where Taiwan electronics manufacturer Foxconn had planned to build a $10 billion factory that former President Donald Trump once called "the eighth wonder of the world," before Foxconn drastically scaled back its plans. Microsoft's plans will result in 2,300 union construction jobs and some 2,000 permanent jobs over time, the White House said.
Cambodia's Defense Ministry insisted Wednesday that the months-long presence of two Chinese warships in a strategically important naval base that is being newly expanded with funding from Beijing does not constitute a permanent deployment of the Chinese military in the country. Questions had arisen after the Center for Strategic and International Studies reported last month that two Chinese corvettes that docked at the Ream Naval Base's new pier in December had maintained a nearly permanent presence there since. The United States and others have long worried that the new pier at the Ream Naval Base, built with Chinese funding, could serve as a new outpost for the Chinese navy on the Gulf of Thailand, but Cambodia has said that would not happen.
The Biden administration is rushing to finish a high-stakes report due to Congress this week on whether Israel has violated international humanitarian law during its war in Gaza— a determination that could lead to significant repercussions and further inflame divisions at home and abroad.
Marjorie Taylor Greene is in a political conundrum: Suffer a public defeat on the House floor or pull back and risk her credibility.
In the months since the Israel-Hamas war began, the Pennsylvania Democrat has become one of his party’s most outspoken supporters of Israel.
Is Donald Trump's hush money trial on today? No, Wednesday's are off days. When we adjourned yesterday, Susan Necheles was questioning Stormy Daniels.
The world's largest brewer AB InBev on Wednesday toasted a jump in profits in the first quarter, despite a drop in beer sales driven by a Bud Light boycott in the United States.AB InBev got caught in the US culture wars in 2023 after it teamed up with a transgender influencer to promote Bud Light, which sparked a boycott by conservative figures.
Europeans focus more on curbing immigration than on climate change and less than 15% of those interviewed across the globe consider climate issues to be among the top three priorities for their government, according to a global study on Wednesday. “Many European countries have seen a sharp rise in the share of people who say that ‘reducing immigration’ should be a top government priority,” said the study commissioned by the Denmark-based think tank Alliance of Democracies Foundation. Germany was in the lead with 44% when it comes to people wanting their government to focus on reducing immigration, while nearly a quarter of the Germans surveyed said fighting climate change was a priority.
Anglo-Swedish drugmaker AstraZeneca on Wednesday said it was withdrawing Covid vaccine Vaxzevria, one of the first produced in the deadly pandemic, citing "commercial reasons" following a slump in demand.The company will work with other regulators globally to start market authorisation withdrawals for the Vaxzevria "where no future commercial demand for the vaccine is expected".
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