- Published on
03-17-2023
- Authors
- Name
- AI Writer
- @danwakeem
Ohio public pension fund loses millions in Silicon Valley Bank collapse
Ohio's State Teachers Retirement System (STRS) suffered a multi-million dollar loss after holding over $27 million in Silicon Valley Bank shares. The losses come as a repercussion of the financial crisis that caused the 16th largest bank in the U.S. to collapse, along with Signature Bank and Silvergate Bank. Pension funds in North Carolina and California were also impacted, but to a much lesser extent. STRS only held .03% of its total fund in Silicon Valley Bank shares.
China's Xi to Visit Putin, Offering Diplomatic Shot in Arm
China's President Xi Jinping is set to visit Russia's President Putin, offering a diplomatic boost to him amid a conflict that has been running for 13 months with Ukraine. This meeting will be the first time they meet since September. China is trying to remain neutral in the current conflict while projecting itself as a fair and objective mediator. These talks could yield new approaches to the fighting in Ukraine, which neither side wants at the moment.
Poland and Slovakia provide Ukraine with fighter jets, Russia criticizes NATO's involvement
Poland has announced that it will deliver a dozen MiG-29 fighter jets to Ukraine. Slovakia will also provide undisclosed military equipment in exchange for the MiGs it is giving to Ukraine. Ukraine had repeatedly asked NATO members for military aid; this was met by reluctance, as allies feared escalating the conflict. Russia has complained about NATO's increased involvement in the Ukraine conflict, describing the provision of military aid as a harmful move. Slovakia's opposition parties rejected the decision and threatened to sue the government.
Silicon Valley Bank Parent Company Files for Bankruptcy Following Tech-Focused Bank’s Seizure
The parent company of Silicon Valley Bank (SVB) has filed for Chapter 11 bankruptcy as the bank looks for ways to preserve the value of assets such as SVB Capital and SVB Securities. The filing from SVB Financial Group came just days after Silicon Valley Bank was seized by the US government. Hedge funds and other distressed debt investors have started buying the bonds of the holding company in hopes of receiving some of the proceeds following the bankruptcy proceedings.
Russian Fighter Jet Damages U.S. MQ-9 Reaper Surveillance Drone in the Black Sea
A U.S. military drone was damaged by a Russian fighter jet while flying over the Black Sea in international airspace. The Russian fighter jets dumped fuel on the surveillance drone and then one of them struck its propeller. Russia has denied hitting the drone and alleged that it crashed while making a sharp maneuver. This incident highlights the tension between the U.S. and Russia regarding the situation in Ukraine.
Remembering Ruth Bader Ginsburg: Law clerks, officials and others honor late justice at Supreme Court ceremony
Ruth Bader Ginsburg, the second female member of the Supreme Court who served as a justice for 27 years, was honored at a meeting of the Supreme Court Bar and special court session, a tradition following a justice's death. Ginsburg was remembered by her former law clerks, including top Supreme Court lawyer Elizabeth Prelogar, judges, and professors. Ginsburg won five of six cases she argued at the high court in the 1970s and was an advocate for women's rights. She became an icon to young women as the senior liberal on the court and earned the nickname the “Notorious RBG.” Ginsburg is buried at Arlington National Cemetery.
Chasten Buttigieg says he hasn't heard from Mike Pence since 'maternity leave' attack
Chasten Buttigieg, husband of Transportation Secretary Pete Buttigieg, revealed on ABC's 'The View' that he has not heard from former Vice President Mike Pence after being attacked for taking 'maternity leave' following the birth of his adopted twins. Chasten defended his husband for taking parental leave, saying that everyone struggles to find a balance between work and family life, and that when a child is hospitalized, parents would rather be bedside. Chasten also criticized Pence for his 'misogynistic' view and said that everyone should have paid parental leave.
Is DeSantis modeling himself after Trump for the 2024 presidential campaign?
DeSantis, a top Republican presidential candidate, is gaining momentum in national politics but his guarded approach and lack of personal connections may become an issue in winning the Republican nomination. While Trump maximizes his unscripted moments with voters and media coverage, DeSantis relies more on a campaign strategy that won him Florida's re-election. DeSantis' allies believe he will become more accessible to voters and maintain unscripted appearances. Though many perceive it as a risky move, Republican political analysts believe that DeSantis' strategy may resonate with Republican voters.
Minnesota Republican opposes guaranteeing meals for students because he 'has yet to meet a person in Minnesota who is hungry'
Minnesota State Senator Steve Drazkowski opposed a bill that would provide meals for all students, citing the fact that he hasn't met a hungry person in Minnesota. However, almost 275,000 K-12 Minnesota students are on free or reduced meals and one in six are food insecure, meaning they don't know when their next meal will be available. The bill's author, Democratic-Farmer-Labor Sen. Heather Gustafson, argued that being hungry makes learning almost impossible and that the proposed increase accounts for less than one percent of the state's education budget. The bill passed the state senate and Governor Tim Walz plans to sign it into law.
Nicaraguan political prisoners call on Biden administration to renew TPS
Nicaraguan President Daniel Ortega’s government has freed 222 people, including opposition leader Yubrank Suazo, from prison and sent them to the US. The US short-term Protected Status (TPS) was first granted to Nicaraguans following Hurricane Mitch in 1998. Only those Nicaraguan immigrants who resided in the US before 1999 are shielded under the programme from the threat of deportation. Suazo and other supporters of the extension are calling on the Biden administration to redesignate TPS to extend it to thousands more Nicaraguans.