- Israel conducts airstrikes in West Bank, Syria overnight, kills Hamas commander Fox News
- ‘Hamas Hides Under Mosque Domes’: Palestinian President Exposes Hamas | Israel-Hamas War India Today
- Israel-Hamas war live: Netanyahu says war cabinet ‘working around the clock’ ahead of potential ground invasion; Biden renews call for two-state solution The Guardian
- Did Israel PM Netanyahu Ignore Intel Warnings on Hamas Attack? | Vantage with Palki Sharma Firstpost
- India Invested 30 Million Dollars For Palestine, More Humanitarian Aid Sent | Homeland India Today
- View Full Coverage on Google News
Tag Archives: overnight
Overnight shooting in Yakima, Washington, leaves 3 dead, suspect at large
CNN
—
At least three people are dead following an overnight shooting in Yakima, Washington, according to Yakima Police Chief Matt Murray.
Murray said the suspect remains at large and that they are working on “strong leads.”
“This is a dangerous person and it’s random, so there is a danger to the community,” Murray said. “We don’t have a motive and we don’t know why.”
Speaking to CNN Tuesday, Murray said the suspect pulled into the ARCO/ampm gas station and “tried to get into the lobby,” but found the doors were locked.
“He then walked across the street to the Circle K,” Murray said. “As he’s walking into the store he pulls out his gun and there are two people getting food and he shoots them.” Both people died, Murray said.
The suspect then walked out of the store and shot another person, who also died.
Murray said the suspect went back across the street to the ARCO/ampm gas station and shot into a car and drove off.
Police have not confirmed who the car belongs to but believe it could be the suspect’s. His identity and location are unknown at this time.
“It appears to be a random situation,” Murray said. “There was no apparent conflict between the parties – the male just walked in and started shooting.”
Murray said his department has video from the scene and will release photos of the unknown suspect shortly.
“We are working on leads and have strong leads now,” Murray told CNN.
Bucs’ Russell Gage hospitalized overnight after suffering concussion and neck injury
Tampa Bay Buccaneers receiver Russell Gage left Monday’s playoff game against the Dallas Cowboys on a backboard after a frightening injury late in the game. He was taken to a local hospital to be evaluated for a concussion and neck injury and kept overnight for observation.
Cowboys safety Donovan Wilson made contact with Gage’s head after an incomplete pass late in the fourth quarter of an NFC wild-card game. Gage fell to his rear after the pass, and Wilson hit him from behind, snapping Gage’s head forward. Wilson wasn’t targeting Gage’s head. He was already committed to the tackle when Gage fell.
Gage appeared to try to stand up from the hit, but couldn’t. He remained laying on his back. Players from both teams surrounded Gage as athletic trainers tended to him. After several moments, athletic trainers placed Gage on a backboard and eventually lifted him onto a cart, where he was taken off the field.
Tuesday morning, the Buccaneers confirmed Gage had suffered a neck injury and a concussion on the play and had movement in all his extremities.
“After suffering a neck injury and concussion during the fourth quarter of last night’s game, Russell was taken to a local hospital where he remained overnight for additional testing and observation,” the team statement said. “Russell has had movement in all extremities and will continue to undergo additional testing today. We will provide additional information as it becomes available.”
Play resumed after Gage left the field Monday in a 31-14 Cowboys win. Bucs head coach Todd Bowles told reporters after the game that Gage was able to move his fingers while on the field after the hit.
Gage was initially listed as questionable prior to Monday’s game after he injured his back on a touchdown catch in Week 18.
New research points to a way to reverse aging. But don’t expect a miracle drug overnight.
“We think the various causes of aging may be addressable with a single treatment to reset the cell,” said Harvard scientist David Sinclair, the paper’s senior author. “So in the future, we could get one treatment — it could be a pill, it could be an injection — to go back 10 years [in cellular life], and then we’ll repeat that process every 10 years.”
That kind of miracle drug won’t be developed overnight. The paper’s authors detail experiments with mice that would have to be replicated in humans before Sinclair’s vision could be realized. Scientists would also have to overcome potential safety and regulatory hurdles.
But the paper supports what Sinclair, a genetics professor at Harvard’s Blavatnik Institute and codirector of the Paul F. Glenn Center for Biology of Aging Research, calls the “information theory of aging” that identifies the epigenome as the primary culprit in the aging process. The epigenome, a kind of cellular operating system, regulates which genes are turned on, or expressed, and which turned off, or not expressed.
Scientists have long suspected that aging is caused by genetic malfunctions such as mutations or misfolded proteins. The study, however, concludes those malfunctions themselves may be triggered by the loss of epigenetic information over time. Essentially, the study found, the cell’s machinery for fixing normal wear and tear in the DNA breaks down over time, allowing harmful genetic mutations to be expressed.
This is important for drug discovery because restoring the process by which stretches of DNA are turned on and off to control the pace of cellular aging looks to be easier than trying to reprogram genetic mutations, the study’s authors contend.
The study is already drawing interest in the biomedical world and from many in the emerging field of geroscience who believe the best way to treat a variety of maladies is to attack the aging process itself.
“We always talk about slowing [aging] down,” said Jay Olshansky, public health professor at the University of Illinois at Chicago, who said he was eager to review Sinclair’s methodology. “Going back in time has generally not been thought to be in the cards. But if, in fact, you can reverse attributes of aging, that is a game changer.”
In experiments described in the study, the scientists first made temporary and fast-healing cuts in the DNA of lab mice, mimicking the double-stranded DNA breaks that are seen in human cells as they undergo a succession of breaks and repairs over the years.
By speeding the breakage, scientists were able to induce epigenetic changes that caused the mice to quickly lose their youthful vigor, and look and act older. Then the scientists administered a three-gene therapy called OSK that reversed the epigenetic changes set in motion by the DNA breaks and restored the lab mice to their youthful state.
Sinclair, an Australian-born biologist who’s a leader in the field, said the study validated an “epiphany” he had in 1996 when it first dawned on him that the epigenome played a key role in aging and it might be possible to manipulate it, like rebooting a computer.
“It is the cell’s reaction to damage and the resulting loss of epigenetic information that drives mammalian aging forward,” the study’s authors write in the Cell article.
Much remains unclear about the techniques deployed by Sinclair’s team to drive aging forward and backward, and whether they could be replicated in humans. Sinclair and his coauthors acknowledge they don’t understand precisely how the gene therapy was able to reset the biological clock in mice, though they believe they activated a kind of “back-up copy of epigenetic software” that reprogrammed cells.
“It is now apparent that mammals retain a back-up copy of youthful epigenetic information that can safely restore the function of old tissues, akin to reinstalling software,” the authors wrote in the Cell article.
Thomas Rando, director of the Broad Stem Cell Research Center at the University of California Los Angeles, has long studied the role of epigenetics in aging but wasn’t involved in the Sinclair study. For researchers, he said, the study’s most critical takeaway is the model scientists created to modulate the aging process. That will be valuable to drug developers in testing experimental disease treatments, he said.
“The idea is that this might be a better model of the natural aging process,” Rando said. “I think it could be.”
James Kirkland, director of the Robert and Arlene Kogod Center on Aging at the Mayo Clinic in Rochester, Minn., said epigenetics may just be one of several major drivers of aging, along with inflammation, damaged or “senescent” cells, and problems with the function of progenitor cells, which create specialized cell types. These drivers may be linked, he said.
But regardless of whether epigenetics is a primary diver, he said, the findings in the Cell study look likely to propel aging research forward.
Sinclair has been on a decades-long scientific quest to reverse aging. In an earlier breakthrough, outlined in a Cell article in March 2018, he and his colleagues rejuvenated 20-month-old mice by treating them with a molecule called nicotinamide mononucleotide, or NMN. Soon these geriatric rodents were outracing two-month-old mice in a lab.
Back in 2020, his scientific team also used the same three-gene cocktail employed in the epigenetic study to restore lost sight in blind mice.
But significant hurdles remain before these feats can be attempted in human studies, including how to allay fears that efforts to change the age of cells carry the risk of causing uncontrolled growth and cancer.
“That’s the biggest risk in this whole field of aging reprogramming,” Rando said. “There will always be a safety issue in attempts to reverse aging. There will always be the risk of unwanted outcomes in mucking with the genome.”
At least half a dozen biotech companies globally are working on therapies that can stretch life spans, including a pair in Massachusetts cofounded by Sinclair, Life Biosciences in Boston and MetroBiotech in Worcester. One of the best funded is San Francisco-based Altos Labs, which has financial backing from Amazon founder Jeff Bezos.
All of those companies face a formidable obstacle: the Food and Drug Administration, which approves new medicines in the United States, currently doesn’t categorize aging as a disease. So to win FDA approval, all drug candidates must target some other illness, such as diabetes or Alzheimer’s, potentially narrowing the scope of research.
While the biotech startups are taking a variety of approaches to human age reversal, Sinclair believes the findings published Thursday could point the way to rethinking basic assumptions about aging.
“We’ve unlocked a major cause of aging,” he said. “A lot of the information to be young again still exists in the cell, and much of the DNA in our bodies is intact.”
Robert Weisman can be reached at robert.weisman@globe.com.
Thousands in Triangle still without power as temperatures plunge overnight
RALEIGH, N.C. — The Christmas weekend got off to a bumpy start for many in the Triangle, where outages meant lack of heat for people staying inside on a day where an arctic blast of cold air blanketed the southeast.
As of Friday night, temperatures had dipped into single-digit wind chills, with thousands of families still without power – and without heat. Power crews were working round-the-clock on Christmas weekend to try and restore power for families.
At the peak of power outages Friday afternoon, more than 200,000 customers were without power in North Carolina as wind speeds picked up in excess of 40 miles per hour in some parts of the state. Wake County saw over 25,000 outages, the most of any county in the state. Durham County had more than 5,000. In Johnston County, there were more than 7,000 without power.
As of 11 p.m. Friday night, around 10,000 were still without power in the Triangle – including Wake, Durham and Orange County.
Duke Energy still had crews working to restore power to customers as of Friday night. High winds slowed their work during the day.
Part of Millbrook Road near Falls of Neuse was still blocked off due to downed power lines just before midnight, with families in the area approaching 10 hours of being without electricity. Some were making last minute plans just to stay safe.
Instead of enjoying a relaxing holiday weekend, Tashyra Fowler, mother of a 9-month-old baby, said the lack of power made it difficult to keep her baby warm and fed.
“It’s been kind of stressful,” she said.
Late at night, Fowler was taking her baby for a ride in the car just to stay warm. They’ll be staying with family tonight.
Isaac Fernandez, of Raleigh, lives just feet away from the tree that barely missed his him when it fell. With no heat, he’s spent the evening huddling around the fireplace with family.
“Hopping around the chimney and making some hot potatoes, that’s all we’re doing,” he said.
“This is all hands on deck,” said Jeff Brooks with Duke Energy. “We all had holiday plans just like everybody else but we put those aside because our first priority is our customers. Because this is a statewide event, we couldn’t shift employees to any one location, so what we’re doing is looking at the areas that are hardest hit, and then we’ll begin shifting resources to assist in those areas.”
Downed trees and power lines cancel some holiday events
One of the more dramatic signs of damage came in Rocky Mount. A series of utility poles were knocked over on Benvenue Road, shutting down the roadway and prompting police and power crews to repair to the damage.
In the Triangle, some intersections were without functioning stoplights. Power was knocked out at Highway 54 and Farrington Road, creating a dangerous situation at a busy intersection between Durham and Chapel Hill.
Many viewers submitted photos of fallen trees or toppled Christmas decorations. Trees were more prone to fall after a rainy Thursday that made the soil saturated.
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WRAL Nights of Lights, the drive-through holiday lights experience at Raleigh’s Dorothea Dix Park, was canceled on Friday night, Dec. 23, due to wind damage along the route and the forecast for high winds and bitter cold. The Chinese Lantern Festival in Cary was also closed.
Temperatures are expected to dip into the teens Friday night, and wind chills could drop ‘feels like’ temperatures down into the single digits on Saturday morning.
2 children, 1 adult killed in overnight house fire in Pittsburgh’s Brighton Heights neighborhood – WPXI
PITTSBURGH — Two children and one young adult were killed in a three-alarm house fire in Pittsburgh’s Brighton Heights neighborhood.
According to Pittsburgh Public Safety, the Pittsburgh Bureau of Fire was called to a house fire in the 3400 block of McClure Avenue just before 2 a.m. Saturday.
The fire was at two alarms before being upgraded to a third alarm due to the blaze’s intensity, officials said.
According to officials, a woman was transported to the hospital in serious but stable condition.
A second woman and eight children were safely evacuated from the home.
Three people — one young adult and two children — were unaccounted for as firefighters fought the flames. Their bodies were later found inside the house.
Another terrible update to this fatal overnight house fire in Brighton Heights…
2 children & a young adult died.
A woman & 8 children were safely evacuated. Another woman is in the hospital.
Info hasn’t been released on how the fire started.
Pics: @PghPublicSafety pic.twitter.com/LVD0amFj5v
— Alyssa Raymond (@AlyssaRaymond) December 17, 2022
The adult was later identified by the Medical Examiner’s office as 19-year-old Dijion Hutchinson.
A firefighter was also taken to a hospital to be treated for an arm laceration, officials said.
The American Red Cross is assisting the family of the victims.
A GoFundMe page has been set up to help with funeral expenses.
The cause of the fire is under investigation.
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How Sam Bankman-Fried’s FTX-Alameda empire vanished overnight
Samuel Bankman-Fried’s poster in downtown San Francisco.
MacKenzie Sigalos | CNBC
The Kimchi Swap put Sam Bankman-Fried on the map.
The year was 2017, and the ex-Jane Street Capital quant trader noticed something funny when he looked at the page on CoinMarketCap.com listing the price of bitcoin on exchanges around the world. Today, that price is pretty much uniform across the exchanges, but back then, Bankman-Fried previously told CNBC that he would sometimes see a 60% difference in the value of the coin. His immediate instinct, he says, was to get in on the arbitrage trade — buying bitcoin on one exchange, selling it back on another exchange, and then earning a profit equivalent to the price spread.
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Cathie Wood’s ARK Invest keeps buying more crypto assets despite FTX bankruptcy
“That’s the lowest hanging fruit,” Bankman-Fried said in September.
The arbitrage opportunity was especially compelling in South Korea, where the exchange-listed price of bitcoin was significantly more than in other countries. It was dubbed the Kimchi Premium – a reference to the traditional Korean side dish of salted and fermented cabbage.
After a month of personally dabbling in the market, Bankman-Fried launched his own trading house, Alameda Research (named after his hometown of Alameda, California, near San Francisco), to scale the opportunity and work on it full-time. Bankman-Fried said in an interview in September that the firm sometimes made as much as a million dollars a day.
Part of why SBF, as he’s also called, earned street cred for carrying out a relatively straightforward trading strategy had to do with the fact that it wasn’t the easiest thing to execute on crypto rails five years ago. Bitcoin arbitrage involved setting up connections to each one of the trading platforms, as well as building out other complicated infrastructure to abstract away a lot of the operational aspects of making the trade. Bankman-Fried’s Alameda became very good at that and the money rolled in.
From there, the SBF empire ballooned.
Alameda’s success spurred the launch of crypto exchange FTX in the spring of 2019. FTX’s success begat a $2 billion venture fund that seeded other crypto firms. Bankman-Fried’s personal wealth grew to over $16 billion at its peak in March.
Bankman-Fried was suddenly the poster boy for crypto everywhere, and the FTX logo adorned everything from Formula 1 race cars to a Miami basketball arena. The 30-year-old went on an endless press tour, bragged about having a balance sheet that could one day buy Goldman Sachs, and became a fixture in Washington, where he was one of the Democratic party’s top donors, promising to sink $1 billion into U.S. political races (before later backtracking).
It was all a mirage.
As crypto prices tanked this year, Bankman-Fried bragged that he and his enterprise were immune. But in fact, the sector-wide wipeout hit his operation quite hard. Alameda borrowed money to invest in failing digital asset firms this spring and summer to keep the industry afloat, then reportedly siphoned off FTX customers’ deposits to stave off margin calls and meet immediate debt obligations. A Twitter fight with the CEO of rival exchange Binance pulled the mask off the scheme.
Alameda, FTX and a host of subsidiaries Bankman-Fried founded have filed for bankruptcy protection in Delaware. He’s stepped down from his leadership roles and lost 94% of his personal wealth in a single day. It is unclear exactly where he is now, as his $40 million Bahamas penthouse is reportedly up for sale. The photos of his face plastered across FTX advertisements throughout downtown San Francisco serve as an unwelcome reminder of his rotting empire.
It was a steep fall from hero to villain. But there were a lot of signs.
Bankman-Fried told CNBC in September that one of his fundamental principles when it comes to playing the markets is working with incomplete information.
“When you can sort of start to quantify and map out what’s going on, but you know there are a lot of things you don’t know,” he said. “You know you’re being approximate, but you have to try to figure out what trade to do anyway.”
The following account is based on reporting from CNBC, Bloomberg, the New York Times, the Wall Street Journal, and elsewhere. Piecing together bits and pieces from various news sources paints a picture of an investor who over-extended himself, frantically moved to cover his mistakes with questionable and perhaps illegal tactics, and surrounded himself with a tight cabal of advisors who could not or would not curb his worst impulses.
What went wrong in the last year
At some point in the last two years, according to reports, Alameda began borrowing money for various purposes, including to make venture investments.
Six months ago, a wave of titans in the crypto sector folded as depressed token prices sucked liquidity out of the market. First came the spectacular failure of a popular U.S. dollar-pegged stablecoin project — the stablecoin known as terraUSD (or UST, for short) and its sister token luna — wiping out $60 billion. That collapse helped to bring down Three Arrows Capital, or 3AC, which was one of the industry’s most respected crypto hedge funds. Crypto brokers and lenders like Voyager Digital and Celsius had significant exposure to 3AC, so they fell right along with it in quick succession.
The big problem was that everyone was borrowing from one another, which only works when the price of all those crypto coins keeps going up. By June, bitcoin and ether had both tumbled by more than half for the year.
“Leverage is the source of every implosion in financial institutions, both traditional and crypto,” said Hart Lambur, a former Goldman Sachs government bond trader who provided liquidity in U.S. Treasuries for central banks, money managers and hedge funds.
“Lehman Brothers, Bear Stearns, Long-Term Capital, Three Arrows Capital and now FTX all blew up due to bad leverage that got sniffed out and exploited by the market,” continued Lambur, who now works in decentralized finance.
As the dominoes fell, SBF jumped into the mix in June to try to bail out some of the failing crypto firms before it was too late, extending hundreds of millions of dollars in financing. In some cases, he made moves to try to buy these companies at fire-sale prices.
Amid the wave of bankruptcies, some of Alameda’s lenders asked for their money back. But Alameda didn’t have it, because it was no longer liquid. Bankman-Fried’s trading firm had parked the borrowed money in venture investments, a decision he told the Times was “probably not really worth it.”
To meet its debt obligations, FTX borrowed from customer deposits in FTX to quietly bail out Alameda, the Journal and the Times reported. The borrowing was in the billions. Bankman-Fried admitted the move in his interview with the Times, saying that Alameda had a large “margin position” on FTX, but he declined to disclose the exact amount.
“It was substantially larger than I had thought it was,” Bankman-Fried told the Times. “And in fact the downside risk was very significant.”
Reuters and the Journal both reported that the lifeline was around $10 billion, and Reuters reports that $1 billion to $2 billion of that emergency financing is now missing. Tapping customer funds without permission was a violation of FTX’s own terms and conditions. On Wall Street, it would be a clear violation of U.S. securities laws.
The two firms – one of the world’s biggest crypto brokers and one of the world’s biggest crypto buyers – were supposed to be separated by a firewall. But they were, in fact, quite cozy, at one point extending to a romantic relationship between Bankman-Fried and Alameda CEO Caroline Ellison, he acknowledged to the Times.
“FTX and Alameda had an extremely problematic relationship,” Castle Island Venture’s Nic Carter told CNBC. “Bankman-Fried operated both an exchange and a prop shop, which is super unorthodox and just not really allowed in actually regulated capital markets.”
The borrowing and lending scheme between the two firms was more convoluted than just using customer funds to make up for bad trading bets. FTX tried to paper over the hole by denoting assets in two crypto tokens that were essentially made up – FTT, a token created by FTX, and Serum, which was a token created and promoted by FTX and Alameda, according to financial filings reported by Bloomberg’s Matt Levine.
Firms make up crypto tokens all the time – indeed, it’s a big part of how the crypto boom of the last two years was financed – and they usually offer some sort of benefit to users, although their real value to most traders is simple speculation, that is, the hope that the price will rise. Owners of FTT were promised lower trading costs on FTX and the ability to earn interest and rewards like waived blockchain fees. While investors can profit when FTT and other coins increase in value, they’re largely unregulated and are particularly susceptible to market downturns.
These tokens were essentially proxies for what people believed Bankman-Fried’s exchange to be worth, since it controlled the vast majority of them. Investor confidence in FTX was reflected in the price of FTT.
The key point here is that FTX was reportedly siphoning off customer assets as collateral for loans, and then covering it with a token it made up and printed at will, drip-feeding only a fraction of its supply into the open market. The financial acrobatics between the two firms somewhat resembles the moves that sunk energy firm Enron almost two decades ago – in that case, Enron essentially hid losses by transferring underperforming assets to off-balance sheet subsidiaries, then created complicated financial instruments to obscure the moves.
As all this was happening, Bankman-Fried continued his press tour, lionized as one of the great young tech entrepreneurs of the age. It only began to unravel once Bankman-Fried got into a public spat with Binance, a rival exchange.
What went wrong in the last two weeks
The relationship between Binance and Bankman-Fried goes back almost to the beginning of his time in the industry. In 2019, Binance announced a strategic investment in FTX and said that as part of the deal it had taken “a long-term position in the FTX Token (FTT) to help enable sustainable growth of the FTX ecosystem.”
Flash forward a couple years to the summer of 2022. Bankman-Fried was pressing regulators to look into Binance and criticizing the exchange in public. It’s unclear exactly why – it could have been based on legitimate suspicions. Or it may simply have been because Binance was a major competitor to FTX, both as an exchange and as a potential buyer of other distressed crypto companies.
Whatever the reason, Binance CEO Changpeng Zhao, known as CZ, soon saw his chance to strike.
On Nov. 2, CoinDesk reported a leaked balance sheet showing that a significant amount of Alameda’s assets were held in FTX’s illiquid FTT token. It raised questions both about the trading firm’s solvency, as well as FTX’s financials.
Zhao took to Twitter on Sunday, Nov. 6, saying that Binance had about $2.1 billion worth of FTT and BUSD, its own stablecoin.
Then he dropped the bomb:
“Due to recent revelations that have came to light, we have decided to liquidate any remaining FTT on our books,” he said.
Investors raced to pull money out of FTX. On Nov. 6, according to Bankman-Fried, the exchange had roughly $5 billion of withdrawals, “the largest by a huge margin.” On an average day, net inflows had been in the tens of millions of dollars.
The speed of the withdrawals underscores how the largely unregulated crypto market is often operating in an information vacuum, meaning that traders react fast when new facts come to light.
“Crypto players are reacting quicker to news and rumor, which in turn builds up a liquidity crisis much faster than one would have seen in traditional finance,” said Fabian Astic, head of decentralized finance and digital assets for Moody’s Investors Service.
“The opacity of the market operations often leads to panic reactions that, in turn, spark a liquidity crunch. The developments with Celsius, Three Arrows, Voyager, and FTX show how easy it is for crypto investors to lose confidence, prompting them to withdraw large sums and causing a near-death crisis for these firms,” continued Astic.
As the FTT token plunged in value in tandem with the mass withdrawals, SBF quietly sought investors to cover the multibillion-dollar hole from the money that had been withdrawn by Alameda. That value may have been as high as $10 billion, according to multiple reports. They all declined, and in a move of desperation, SBF turned to CZ.
In a public tweet on Nov. 8, CZ said Binance agreed to buy the company, though the deal had a key term: non-binding. The sudden public revelation that FTX was in need of a bailout caused FTT’s value to plunge off a cliff.
The next day, CZ claimed he did due diligence and didn’t like what he saw, essentially sealing FTX’s demise. Bankman-Fried speculated to the Times that CZ never intended to buy it in the first place.
On Friday, Nov. 11, FTX and Alameda both filed for bankruptcy. FTX, which was valued at $32 billion in a financing round earlier this year, has frozen trading and customer assets and is seeking to discharge its creditors in bankruptcy court. Bankman-Fried is no longer the boss at either firm.
A new bankruptcy filing posted on Tuesday shows that FTX may have more than one million creditors. It plans to file a list of the 50 largest ones this week.
Lawyers for the exchange wrote that FTX has been in contact with “dozens” of regulators in the U.S. and overseas in the last 72 hours, including the U.S. Attorney’s Office, the Securities and Exchange Commission and the Commodity Futures Trading Commission. The SEC and Department of Justice are reportedly investigating FTX for civil and criminal violations of securities laws. Financial regulators in the Bahamas are also reportedly looking at the possibility of criminal misconduct.
CEO of FTX Sam Bankman-Fried testifies during a hearing before the House Financial Services Committee at Rayburn House Office Building on Capitol Hill December 8, 2021 in Washington, DC.
Alex Wong | Getty Images
Binance is now poised to claim absolute dominance over the industry.
“Binance clearly comes out stronger from all of this,” said William Quigley, co-founder of the U.S. dollar-pegged stablecoin tether. “CZ claims Binance has no debt, and doesn’t use its BNB token as collateral. Both of those are good practices in the highly volatile crypto markets.”
Quigley added that more institutional trading and custody will likely shift to Binance.
“The cryptocurrency industry’s entire ethos is founded on disintermediation and decentralization, so Binance’s ever-growing dominance raises reasonable fears over how further centralization will affect the average trader,” said Clara Medalie, director of research at data firm Kaiko.
“FTX’s collapse benefits no one, not even Binance, which will now face growing questions over its monopoly of market activity,” Medalie told CNBC, speculating that we are just seeing the tip of the iceberg of market participants affected by the fall of FTX and Alameda.
“Each entity has numerous twisted and over-lapping financial ties to projects throughout the industry that now stand to lose support or go under themselves,” she said.
In the meantime, though, Binance took a bath on the collapse of the FTT token, which CZ says the firm held after Bankman-Fried asked for a bailout.
“Full disclosure,” CZ tweeted last Sunday.
“Binance never shorted FTT. We still have a bag of as we stopped selling FTT after SBF called me. Very expensive call.”
– CNBC’s Ari Levy, Kate Rooney and Ryan Browne contributed to this report.
Russia-Ukraine war live: reports of strikes overnight in Zaporizhzhia; G7 and Zelenskiy to hold crisis talks | World news
15 explosions registered in Zaporizhzhia overnight – Ukraine deputy foreign affairs minister
Ukraine’s Deputy Minister of Foreign Affairs, Emine Dzheppar, reports that Russia fired at least fifteen rockets on Zaporizhzhia last night, targeting “an educational institution, a medical institution and residential buildings.”
#russian terrorists again hit infrastructure facilities in #Zaporizhzhia with rockets this night. At least 15 explosions registered. Their targets were an educational institution, a medical institution, and residential buildings. #russiaisaterrorisstate #StandWithUkraine pic.twitter.com/2FgR5OyKxa
— Emine Dzheppar (@EmineDzheppar) October 11, 2022
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Thérèse Coffey, who is deputy prime minister of the UK, has been interviewed on Sky News this morning. She was asked what the UK could do to offer further support to Ukraine following yesterday’s wave of Russian missile strikes on cities. She called for other countries to offer support, saying:
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We have been continuing the support that we’ve been giving. The prime minister [Liz Truss] was foreign secretary beforehand, working in step with our defence secretary Ben Wallace and at the time prime minister Boris Johnson, and we continue to do that. So we need to make sure that the west is also resolved to making sure that Putin must fail. And the people of Ukraine succeed.
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Pressed on something specific the UK could offer, she continued:
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Well, of course, some of these operational matters, of the direct support [that] will be given will be discussed confidentially, both within government, but also with the Ukrainian president. And I know that we have always stepped up to deliver what we can.
n
But this is a time for other countries to continue the level of support that they’ve been showing, and where necessary to escalate their level of support directly to the Ukrainian armed forces, as we have done
n
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Israeli-Russian billionaire Yuri Milner said on Monday he has renounced his Russian citizenship after leaving the country in 2014.
Milner is the founder of internet investment firm DST Global, and made a fortune by betting on Chinese tech companies like e-commerce platforms Alibaba and JD.com.
“My family and I left Russia for good in 2014, after the Russian annexation of Crimea,” Milner said in a tweet. “And this summer, we officially completed the process of renouncing our Russian citizenship.”
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My family and I left Russia for good in 2014, after the Russian annexation of Crimea. And this summer, we officially completed the process of renouncing our Russian citizenship.
— Yuri Milner (@yurimilner) October 10, 2022
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Milner has been an Israeli citizen since 1999 and has not visited Russia since 2014, according to a fact sheet on DST Global’s website.
Milner also has no assets in Russia, 97% of his personal wealth was created outside of the country and “Yuri has never met Vladimir Putin, either individually or in a group,” according to the website.
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Ukraine’s state emergency service has reported that the death toll from Russia’s attacks on Ukrainian cities on 10 October has risen to 19, with the number of injured rising to over 105.
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⚡️Update: 19 killed, 105 injured as a result of Russia's missile attacks.
Ukraine's State Emergency Service provided updated information on casualties following Russia's widespread missile attacks across Ukraine on Oct. 10.
— The Kyiv Independent (@KyivIndependent) October 11, 2022
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Hong Kong’s leader John Lee said Tuesday he will implement only United Nations sanctions – not US, UK or EU sanctions – after the US warned the territory’s status as a financial centre could be affected if it acts as a safe haven for sanctioned individuals, AP reports.
Lee’s statement Tuesday came days after a luxury yacht connected to Russian tycoon Alexey Mordashov docked in the city.
Mordashov, who is believed to have close ties to Russian President Vladimir Putin, was sanctioned by the US, UK and the European Union in February after Russia’s invasion of Ukraine. Hong Kong authorities have said that they do not implement unilateral sanctions imposed by other governments.
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“We cannot do anything that has no legal basis,” Lee told reporters. “We will comply with United Nations sanctions, that is our system, that is our rule of law,” he said.
A US State Department spokesperson said in a statement Monday that “the possible use of Hong Kong as a safe haven by individuals evading sanctions from multiple jurisdictions further calls into question the transparency of the business environment.”
The State Department spokesperson also said the city’s reputation as a financial centre “depends on its adherence to international laws and standards.”
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Ukraine’s Deputy Minister of Foreign Affairs, Emine Dzheppar, reports that Russia fired at least fifteen rockets on Zaporizhzhia last night, targeting “an educational institution, a medical institution and residential buildings.”
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#russian terrorists again hit infrastructure facilities in #Zaporizhzhia with rockets this night. At least 15 explosions registered. Their targets were an educational institution, a medical institution, and residential buildings. #russiaisaterrorisstate #StandWithUkraine pic.twitter.com/2FgR5OyKxa
— Emine Dzheppar (@EmineDzheppar) October 11, 2022
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Citing the Oblast Military Administration, media outlet Ukrainska Pravda reports that that Ladyzhynska power plant in the southwestern city of Vinnytsia was shelled a short while ago by two Shahed-136 kamikaze drones.
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⚡️ The occupiers attacked the Ladyzhynska TPP in Vinnytsia with two Shahed-136 kamikaze drones – Oblast Military Administrtion
— Ukrainska Pravda in English (@pravda_eng) October 11, 2022
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Ukranian state news agency Ukrinform reports that 98 miners are still trapped underground following Russia’s shelling of Kryvyi Rih, Ukrainian president Vlodymyr Zelensky’s home town.
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Power outages caused by the strikes have left 98 miners stick underground., the news agency reports, with rescuers working to release them.
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Almost 900 miners had been trapped in four mines following the strikes, but most have since been freed.
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There are a few events and meetings planned for today, so here is a summary of what we can expect, among the unexpected:
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G7 leaders will hold crisis talks with Zelenskiy in attendance. The leaders are likely to discuss the global energy crisis sparked by Russia’s invasion, amid plans to introduce a global cap on the price of Russian oil to target Putin’s revenues.
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UK Prime Minister Liz Truss is expected to call for a full meeting of Nato leaders to happen in the coming days
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United Arab Emirates president Sheikh Mohamed bin Zayed al-Nahyan will visit Moscow on Tuesday to meet Putin.
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Jeremy Fleming, the head of the British spy agency GCHQ will say in a speech on Tuesday that Vladimir Putin has made strategic errors in his pursuit of the war in Ukraine partly because there are so few restraints on his leadership.
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The UK Prime Minister, Liz Truss, is expected to call for a full meeting of Nato leaders in coming days as the G7 holds crisis talks on Tuesday following Russian strikes on Kyiv and other major Ukrainian cities.
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Russian forces rained more than 80 missiles on cities across Ukraine on Monday, according to Kyiv, in apparent retaliation for an explosion that damaged a key bridge linking the Crimean peninsula to Russia.
The G7 video call will also be attended by Ukrainian President Volodymyr Zelensky.
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G7 leaders are also likely to discuss the global energy crisis sparked by Russia’s invasion, amid plans to introduce a global cap on the price of Russian oil to target Putin’s revenues, PA reports.
Ukraine stepped up calls for western allies to provide anti-air and anti-missile systems in response to Monday’s strikes, which have so far killed 14 and injured 97.
Kyiv was targeted for the first time in months, while Russia also hit civilian areas and energy infrastructure across the country, from Kharkiv in the east to Lviv near the Polish border.
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The death toll from Russia’s strikes on Kyiv and other cities on 10 October has risen to 14, while 97 have been injured, Ukraine’s State Emergency Services said in an update on Monday night.
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More than 1,300 settlements across the country were without power, the emergency service said.
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🔸Станом на 21:00 внаслідок ракетних обстрілів залишаються знеструмленими 1 тис. 307 населених пунктів у Київській (13), Львівській (353), Сумській (766),Тернопільській (169) та Хмельницькій (6) областях.
🔸Загинуло 14 осіб, травмовано 97 осіб. pic.twitter.com/3qAydhDW70
— DSNS.GOV.UA (@SESU_UA) October 10, 2022
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Many of the locations hit by cruise missiles and kamikaze drones during the morning rush hour appeared to be solely civilian sites or key pieces of infrastructure, apparently chosen to terrorise Ukrainians.
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The Kyiv Independent reports that there have been strikes on Zaporizhzhia overnight, saying in a tweet shortly before 7am local time that, “Russian forces targeted an infrastructure site in the city of Zaporizhzhia, according to Zaporizhzhia Oblast Governor Oleksandr Starukh. Information on casualties and damages has not yet been reported.”
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⚡️Russia strikes Zaporizhzhia overnight on Oct. 11.
Russian forces targeted an infrastructure site in the city of Zaporizhzhia, according to Zaporizhzhia Oblast Governor Oleksandr Starukh. Information on casualties and damages has not yet been reported.
— The Kyiv Independent (@KyivIndependent) October 11, 2022
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The Guardian has not confirmed this independently. We will bring you more shortly.
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Hello and welcome to our ongoing live coverage of the war in Ukraine. My name is Helen Sullivan and I’ll be taking you through the latest as it happens. If there is news you think we may have missed, let me know on Twitter @helenrsullivan or via email: helen.sullivan@theguardian.com.
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The Kyiv Independent reports that there have been strikes on Zaporizhzhia overnight, saying in a tweet shortly before 7am local time, “Russian forces targeted an infrastructure site in the city of Zaporizhzhia, according to Zaporizhzhia Oblast Governor Oleksandr Starukh. Information on casualties and damages has not yet been reported.” The Guardian has not confirmed this independently.
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Meanwhile the death toll from Russia’s attacks on Ukraine on 10 October has risen to 14, with the number of injured rising to 97, Ukraine’s State Emergency Services said in an update on Monday night.
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Liz Truss is expected to call for a full meeting of Nato leaders in the coming days, as G7 leaders hold crisis talks on Tuesday, with Ukraine’s president, Vlodymyr Zelenskiy, attending, following Russian strikes on Kyiv and other major Ukrainian cities.
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In the meantime, here are the other key recent developments:
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Ukrainian president Volodymyr Zelenskiy said his country was “dealing with terrorists” and accused Russia of targeting power facilities and civilians following the missile attacks. “They deliberately chose such a time, such goals, in order to cause as much harm as possible,” the Ukrainian leader said.
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US president Joe Biden said the US “strongly condemns” the Russian missile strikes on cities across Ukraine, which demonstrate Putin’s “utter brutality” against the Ukrainian people. In a separate statement, the US secretary of state, Antony Blinken, said the international community “has a responsibility” to make clear that Putin’s actions are “completely unacceptable”.
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The United Nations general assembly voted to reject Russia’s call for the 193-member body to hold a secret ballot later this week on whether to condemn Moscow’s move to annex four partially occupied regions in Ukraine. Diplomats said the vote on the resolution would likely be on Wednesday or Thursday.
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Australian troops could help train Ukraine’s armed forces following Russia’s “appalling” attack on Kyiv, the country’s Defence Minister, Richard Marles, said on Tuesday.
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Members of the Group of Seven, and Zelenskiy, will hold emergency talks on Tuesday, a German government spokesperson has confirmed. Zelenskiy confirmed he would address G7 leaders, adding that he had spoken to Germany’s chancellor, Olaf Scholz, about increasing pressure on Russia as well as aid for Ukraine.
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Vladimir Putin has made strategic errors in his pursuit of the war in Ukraine partly because there are so few restraints on his leadership, the head of the British spy agency GCHQ will say in a speech on Tuesday.
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The former Russian president Dmitry Medvedev has been included on a list of wanted persons put together by Ukraine security officials. A statement released by Ukraine’s security service, the SBU, said Medvedev, now deputy chairman of Russia’s Security, was wanted under a section of the criminal code dealing with attempts to undermine Ukraine’s territorial integrity and the inviolability of its borders. Most of the Russian Security Council’s members are on the list.
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The International Committee of the Red Cross has confirmed its teams have paused their field work in Ukraine for security reasons. The Norwegian Refugee Council have also said that it has paused its aid operations in Ukraine until it is safe to resume. “Our aid workers are hiding from a barrage of bombs and in fear of repeated attacks,” it said.
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The president of the United Arab Emirates, Sheikh Mohamed bin Zayed al-Nahyan, will visit Moscow on Tuesday to meet Putin, UAE state media reported. Mohamed “will discuss with President Putin the friendly relations between the UAE and Russia along with a number of regional and international issues and developments of common interest”, the UAE’s state-owned news agency WAM said.
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The European Union has announced it will extend a bloc-wide protection scheme for Ukrainian refugees into 2024. Ukrainians in the EU who choose to return to their country will still be able to maintain their refugee status, as long as they notify the relevant EU country of their move, according to the EU’s home affairs commissioner, Ylva Johansson.
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Key events
UK’s deputy PM: ‘other countries’ should ‘escalate level of support directly to Ukrainian armed forces’
Thérèse Coffey, who is deputy prime minister of the UK, has been interviewed on Sky News this morning. She was asked what the UK could do to offer further support to Ukraine following yesterday’s wave of Russian missile strikes on cities. She called for other countries to offer support, saying:
We have been continuing the support that we’ve been giving. The prime minister [Liz Truss] was foreign secretary beforehand, working in step with our defence secretary Ben Wallace and at the time prime minister Boris Johnson, and we continue to do that. So we need to make sure that the west is also resolved to making sure that Putin must fail. And the people of Ukraine succeed.
Pressed on something specific the UK could offer, she continued:
Well, of course, some of these operational matters, of the direct support [that] will be given will be discussed confidentially, both within government, but also with the Ukrainian president. And I know that we have always stepped up to deliver what we can.
But this is a time for other countries to continue the level of support that they’ve been showing, and where necessary to escalate their level of support directly to the Ukrainian armed forces, as we have done
Belarus could face more sanctions if it gets more and more involved in the Ukraine conflict, French foreign affairs minister Catherine Colonna told French radio, Reuters reports.
Belarusian leader Alexander Lukashenko said yesterday that he had ordered troops to deploy jointly with Russian forces near Ukraine in response to what he said was a clear threat to Belarus from Kyiv and its backers.
That’s it from me, Helen Sullivan, for today. Thanks for following along. My colleague Martin Belam will take you through the latest for the next while.
Israeli-Russian billionaire Yuri Milner renounces citizenship
Israeli-Russian billionaire Yuri Milner said on Monday he has renounced his Russian citizenship after leaving the country in 2014.
Milner is the founder of internet investment firm DST Global, and made a fortune by betting on Chinese tech companies like e-commerce platforms Alibaba and JD.com.
“My family and I left Russia for good in 2014, after the Russian annexation of Crimea,” Milner said in a tweet. “And this summer, we officially completed the process of renouncing our Russian citizenship.”
My family and I left Russia for good in 2014, after the Russian annexation of Crimea. And this summer, we officially completed the process of renouncing our Russian citizenship.
— Yuri Milner (@yurimilner) October 10, 2022
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My family and I left Russia for good in 2014, after the Russian annexation of Crimea. And this summer, we officially completed the process of renouncing our Russian citizenship.
— Yuri Milner (@yurimilner) October 10, 2022
Milner has been an Israeli citizen since 1999 and has not visited Russia since 2014, according to a fact sheet on DST Global’s website.
Milner also has no assets in Russia, 97% of his personal wealth was created outside of the country and “Yuri has never met Vladimir Putin, either individually or in a group,” according to the website.
Death toll from 10 October strikes rises to 19
Ukraine’s state emergency service has reported that the death toll from Russia’s attacks on Ukrainian cities on 10 October has risen to 19, with the number of injured rising to over 105.
⚡️Update: 19 killed, 105 injured as a result of Russia's missile attacks.
Ukraine's State Emergency Service provided updated information on casualties following Russia's widespread missile attacks across Ukraine on Oct. 10.
— The Kyiv Independent (@KyivIndependent) October 11, 2022
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⚡️Update: 19 killed, 105 injured as a result of Russia’s missile attacks.
Ukraine’s State Emergency Service provided updated information on casualties following Russia’s widespread missile attacks across Ukraine on Oct. 10.
— The Kyiv Independent (@KyivIndependent) October 11, 2022
Hong Kong leader will implement only UN sanctions – not US, UK or EU sanctions
Hong Kong’s leader John Lee said Tuesday he will implement only United Nations sanctions – not US, UK or EU sanctions – after the US warned the territory’s status as a financial centre could be affected if it acts as a safe haven for sanctioned individuals, AP reports.
Lee’s statement Tuesday came days after a luxury yacht connected to Russian tycoon Alexey Mordashov docked in the city.
Mordashov, who is believed to have close ties to Russian President Vladimir Putin, was sanctioned by the US, UK and the European Union in February after Russia’s invasion of Ukraine. Hong Kong authorities have said that they do not implement unilateral sanctions imposed by other governments.
“We cannot do anything that has no legal basis,” Lee told reporters. “We will comply with United Nations sanctions, that is our system, that is our rule of law,” he said.
A US State Department spokesperson said in a statement Monday that “the possible use of Hong Kong as a safe haven by individuals evading sanctions from multiple jurisdictions further calls into question the transparency of the business environment.”
The State Department spokesperson also said the city’s reputation as a financial centre “depends on its adherence to international laws and standards.”
The UK Ministry of Defence has published its daily update from Ukraine, reporting that “the Russian Ministry of Defence (MOD) announced that General Sergei Surovikin had been appointed as overall commander of its Joint Group of Forces conducting the ‘special military operation’ in Ukraine” on 8 October.
“For much of its operation, Russia has likely lacked a single empowered field commander,” the MoD tweeted.
“Surovikin’ s appointment likely reflects an effort by the Russian national security community to improve the delivery of the operation. However, he will likely have to contest with an increasingly factional Russian MOD which is poorly resourced to achieve the political objectives it has been set in Ukraine.”
Latest Defence Intelligence update on the situation in Ukraine – 11 October 2022
Find out more about the UK government's response: https://t.co/VbuADMF0JY
🇺🇦 #StandWithUkraine 🇺🇦 pic.twitter.com/S9P7kmoo0X
— Ministry of Defence 🇬🇧 (@DefenceHQ) October 11, 2022
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15 explosions registered in Zaporizhzhia overnight – Ukraine deputy foreign affairs minister
Ukraine’s Deputy Minister of Foreign Affairs, Emine Dzheppar, reports that Russia fired at least fifteen rockets on Zaporizhzhia last night, targeting “an educational institution, a medical institution and residential buildings.”
#russian terrorists again hit infrastructure facilities in #Zaporizhzhia with rockets this night. At least 15 explosions registered. Their targets were an educational institution, a medical institution, and residential buildings. #russiaisaterrorisstate #StandWithUkraine pic.twitter.com/2FgR5OyKxa
— Emine Dzheppar (@EmineDzheppar) October 11, 2022
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Reports of shelling in Vinnytsia
Citing the Oblast Military Administration, media outlet Ukrainska Pravda reports that that Ladyzhynska power plant in the southwestern city of Vinnytsia was shelled a short while ago by two Shahed-136 kamikaze drones.
⚡️ The occupiers attacked the Ladyzhynska TPP in Vinnytsia with two Shahed-136 kamikaze drones – Oblast Military Administrtion
— Ukrainska Pravda in English (@pravda_eng) October 11, 2022
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⚡️ The occupiers attacked the Ladyzhynska TPP in Vinnytsia with two Shahed-136 kamikaze drones – Oblast Military Administrtion
— Ukrainska Pravda in English (@pravda_eng) October 11, 2022
Reuters reports via RIA that Russian deputy foreign minister Sergei Ryabkov has warned the US and Nato against “the West’s growing involvement in the Ukrainian conflict”, saying that Moscow would respond and hope[s] that they realise the danger of uncontrolled escalation in Washington and other Western capitals”.
98 miners trapped underground following Russian strikes – Ukraine state media
Ukranian state news agency Ukrinform reports that 98 miners are still trapped underground following Russia’s shelling of Kryvyi Rih, Ukrainian president Vlodymyr Zelensky’s home town.
Power outages caused by the strikes have left 98 miners stick underground., the news agency reports, with rescuers working to release them.
Almost 900 miners had been trapped in four mines following the strikes, but most have since been freed.
Railroad strike 2022: Intensifying efforts to avert crippling strike go overnight
New York
CNN Business
—
Talks aimed at averting a freight railroad strike that could cripple US supply chains continued overnight into Thursday. If the strike goes ahead early Friday, it could send prices higher for goods from gasoline to food to cars.
Two rail unions, representing more than 50,000 engineers and conductors who make up the two-person crews that make the trains run, are threatening the first rail strike in 30 years as of 12:01 am ET Friday. Union leaders and the railroads’ labor negotiators began meeting with Labor Secretary Marty Walsh at his Washington, DC, office at 9 a.m. ET on Wednesday.
The talks were still underway 18 hours later at 3 a.m. ET Thursday, a Labor Department spokesman told CNN.
White House press secretary Karine Jean-Pierre told reporters aboard Air Force One on Wednesday that “all parties need to stay at the table, bargain in good faith to resolve outstanding issues and come to an agreement. A shutdown of our freight rail system is unacceptable outcome for our economy and the American people, and all parties must work to avoid just that.”
The Labor Department asked both management and labor not to comment on the state of the talks, and neither responded to a request for comment.
Nearly 30% of the nation’s freight moves on the nation’s railroads. Many vital sectors — including oil refining, agriculture, auto and other manufacturing, plus the imports of consumer goods — depend on the railroads to operate. While a short strike would have a limited effect, economists say a strike lasting a week or more could have severe economic consequences.
The railroads announced last Friday that they had stopped accepting shipments of hazardous material, including fertilizer, as well as security-related materials, due to concerns that trains will immediately stop wherever they are once the strike begins. On Wednesday many stopped accepting shipments of agricultural products.
Members of Union Pacific
(UNP) train crews were informed by the railroad late Tuesday that if they’re in the middle of a trip when the strike begins at 12:01 am EST Friday they should park and secure their train and wait for transportation.
Freight railroad Norfolk Southern
(NSC) is planning to use management employees to operate a limited number of trains in the event of a strike Friday. That could allow critical materials to reach their destinations, like chlorine to water treatment plants.
“We’ll have some capability. Not a very good capability, but we’ll have some if it comes to that,” Norfolk Southern spokesman Connor Spielmaker told CNN Business Wednesday. “How we’re going to utilize them is still being planned out.”
Spielmaker said the railroads still hope to reach a deal with the unions and avert such a situation. Freight railroads CSX, BNSF and Union Pacific declined to say if they’ll be using management employees to operate trains in the event of a strike.
The threat of the strike could snarl commutes across the country. Many Amtrak and local commuter trains travel on railways owned by freight companies. If striking engineers park their trans midroute Friday morning, commutes could be disrupted. Amtrak on Wednesday said it canceled all long-distance trains starting Thursday, and it announced 10 additional routes would be shut down Thursday evening. Amtrak said additional delays or cancellations are possible.
The effort to avert a strike is a major test for President Joe Biden and his White House, which has positioned itself as one of the most pro-labor administrations ever. At the same time, it also wants to avoid any potential shocks to the economy, especially with the midterm elections just seven weeks away.
Railroad workers are governed by a different labor law than most workers, one that limits their freedom to strike and allows for more governmental intervention. In July Biden issued an order that prevented a strike at that time and created a panel, known as a Presidential Emergency Board (PEB), to try to find a solution to the dispute. It also imposed a 60-day cooling off period during which the unions could not strike and management could not lock out workers.
But Biden cannot order the railroads to keep operating once the cooling off period ends Friday. Only Congress can act to keep workers on the job if there is no deal. Sen. Richard Durbin, the second highest ranking member of the Democrats’ Senate leadership, told CNN this week that Congressional action is unlikely, despite business groups calling on Congress to act. The Senate is in recess on Friday, and many members of Congress are flying to London to attend Queen Elizabeth’s funeral.
The PEB’s recommendations called for workers to get an immediate 14% pay raise, plus back pay dating back to 2020. It also called for a 24% increase in pay during the five-year life of the contract from 2020 to 2024, and cash bonuses of $1,000 a year.
But it did not address the staffing shortages and scheduling rules that have become the key sticking point in the dispute. The engineers’ and conductors’ unions say the railroads are requiring their members to be “on call” and ready to report to work on short notice as often as seven days a week. Leadership of the two unions say their members would not accept a contract without changes to those work rules.
There are more than 50,000 other unions members at the railroads who maintain tracks, operate signals, dispatch trains and work as mechanics, among other jobs. But they are not subject to the same work rules, and those unions already accepted tentative deals with the railroads based on the PEB’s recommendations.
One of those unions, the Machinists, announced Wednesday that its members voted to reject its tentative labor deal. There are about 5,000 members of the union at the railroads working as locomotive machinists, track equipment mechanics and facility maintenance personnel.
Their rejection of the proposed contract is not an immediate setback in efforts to avoid the strike. The union said it will not go on strike before the end of the month, as it tries to reach a change in the tentative agreement that its members will accept. But it is a sign of the complexity the railroads are facing in reaching deals with a dozen different unions that are also acceptable to rank-and-file membership.
Two other unions, the Brotherhood of Railway Carmen and the Transportation Communications Union, which between them have 11,000 members, ratified deals on Wednesday.
– CNN’s Matt McFarland, Ali Zaslav, Kate Sullivan, Phil Mattingly, Maegan Vazquez and Andrew Millman contributed to this report
Ukraine says 11 killed overnight, Britain flags new Russian force
Aug 10 (Reuters) – Russian shelling killed 11 people in Ukraine’s central Dnipropetrovsk region overnight, governor Valentyn Reznychenko said on Wednesday, as Britain said Russia had “almost certainly” established a major new ground force to support its war.
The new Russian force, called the 3rd Army Corps, is based in the city of Mulino, east of Russia’s capital, Moscow, the British Defence Ministry said in a daily intelligence bulletin.
The ministry also said Russian commanders were facing “competing operational priorities” of reinforcing their offensive in the Donbas region in the east, as well as strengthening defences against Ukrainian counterattacks in the south.
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After failing to capture the Ukrainian capital of Kyiv early in the war, Russian forces have focused on the east and south, where pro-Moscow separatists have controlled territory since Russia annexed Crimea in 2014.
A senior Ukrainian official suggested a series of explosions at a Russian air base in Crimea on Tuesday could have been the work of partisan saboteurs, as Ukraine denied responsibility for the incident deep in Russian-occupied territory.
Huge plumes of smoke could be seen in videos posted on social media from Crimea, a holiday destination for many Russians. Russia used Crimea as one of the launch pads for its Feb. 24 invasion.
Russia said the explosions, at least 12 according to witnesses, were detonations of stored ammunition, not the result of an attack.
Zelenskiy did not directly mention the blasts in his daily video address on Tuesday but said it was right that people were focusing on Crimea.
“We will never give it up … the Black Sea region cannot be safe while Crimea is occupied,” he said, repeating his government’s position that Crimea would have to be returned to Ukraine.
HIGH RISK
Ukraine’s general staff reported widespread Russian shelling across several regions on Wednesday.
The head of Ukraine’s state nuclear power firm has warned of the “very high” risk of shelling at the Zaporizhzhia nuclear power plant in the Russian-occupied south and said it was vital Kyiv regained control of the facility in time for winter.
Shelling last week by Russian forces had damaged three lines that connect the plant to the Ukrainian grid, he said. Russia wanted to connect the facility to its grid, Kotin said.
An interior view shows a school building damaged by a Russian military strike, as Russia’s attack on Ukraine continues, in location given as Marhanets town, in Dnipropetrovsk region, Ukraine August 10, 2022. Press service of the State Emergency Service of Ukraine/Handout via REUTERS
“The risk is very high” of shelling hitting containers storing radioactive material, he said.
Both Ukraine and Russia have said they want technicians from the U.N. nuclear watchdog, the International Atomic Energy Agency (IAEA), to visit Zaporizhzhia, the biggest nuclear power plant in Europe.
Russia has asked for IAEA chief Rafael Grossi to brief the U.N. Security Council on Thursday on Russia’s accusation of attacks by “the Ukrainian armed forces on the Zaporizhzhia nuclear power plant and their potential catastrophic consequences”, diplomats said.
Ukraine has denied the Russian assertion that its forces attacked the plant.
MASS BURIALS
In the northern town of Bucha, 15 bodies were buried on Tuesday after they were found four months after Russian forces withdrew from the area.
“All the people who were shot and exhumed from a mass grave have torture marks,” Bucha Deputy Mayor Mykhailyna Skoryk told reporters.
Ukraine and its allies accuse Russian forces of committing atrocities in Bucha, a satellite town of the capital Kyiv, after beginning its invasion on Feb. 24.
Russia denied the accusation and denies targeting civilians in what it calls its “special military operation” in its southern neighbour. read more
Ukraine and its allies say Russia is responsible for an unprovoked imperial-style war of aggression that has ignited the biggest conflict in Europe since World War Two.
Supported with weapons by its Western allies, Ukraine is banking on sophisticated rocket and artillery systems to degrade Russian supply lines and logistics.
The U.S. State Department has approved $89 million worth of assistance to help Ukraine equip and train 100 teams to clear landmines and unexploded ordnance for a year.
Ukraine’s president has called on the West to impose a blanket travel ban on Russians, an idea that has found support among some EU member states, but angered Russia, which dismissed it as irrational. read more
President Joe Biden on Tuesday signed documents of U.S. support for Finland and Sweden joining NATO, the most significant expansion of the military alliance since the 1990s and prompted by Russia’s invasion of Ukraine. read more
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Reporting by Reuters bureaux; Writing by Michael Perry; Editing by Robert Birsel
Our Standards: The Thomson Reuters Trust Principles.