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FDIC may make some uninsured Silicon Valley Bank deposits available Monday

Published Tue, 25 Feb 2025 10:01:36 GMT

Saleha Mohsin, Lydia Beyoud and Sridhar Natarajan(Bloomberg) — US regulators overseeing the emergency breakup of SVB Financial Group are racing to sell assets and make a portion of clients’ uninsured deposits available as soon as Monday, according to people with knowledge of the situation.The initial payout — the amount of which is still being determined — would aim to tide over the firm’s distressed customers, many of them Silicon Valley entrepreneurs and their companies, with more cash to follow as the bank’s assets are sold. The amount will depend in part on the Federal Deposit Insurance Corp.’s progress in turning assets to cash by Sunday night.Figures being floated behind the scenes for an initial payment range from 30% to 50% or more of uninsured deposits, the people said, asking not to be identified discussing private talks.A spokesperson for the FDIC didn’t respond to requests for comment on its plans.Silicon Valley Bank’s business clients are desperate to access their money...

Chinese city proposes lockdowns for flu — and faces a backlash

Published Tue, 25 Feb 2025 10:01:36 GMT

A Chinese city has sparked a backlash on social media after saying it would consider the use of lockdowns in the event of an influenza outbreak.The city of Xi’an — a tourism hotspot in Shaanxi province that is home to the famous terracotta warriors — revealed an emergency response plan this week that would enable it to shut schools, businesses and “other crowded places” in the event of a severe flu epidemic.That prompted a mixture of anxiety and anger on China’s social media websites among many users who said the plan sounded uncomfortably similar to some of the strict zero-Covid measures China had implemented throughout the pandemic and which have only recently been abandoned.“Vaccinate the public rather than using such time to create a sense of panic,” one user wrote on Weibo, China’s equivalent of Twitter.“How will people not panic given that Xi’an’s proposal to suspend work and business activities were issued without clear instruction on the national level to classify the diseas...

Former owner of DC physiatry practice convicted in $5M health care fraud scheme

Published Tue, 25 Feb 2025 10:01:36 GMT

A physician who owned and operated a now-defunct physiatry and pain management practice in D.C. was convicted by a federal jury Saturday for a $5 million health care fraud scheme, prosecutors said.More Local NewsMore DC NewsMore Crime NewsFrederick Gooding, 71, of Wilmington, Delaware, was convicted on 11 counts of health care fraud.Prosecutors said that between 2015 and 2018, Gooding fraudulently billed Medicare over $5 million for injections he didn’t carry out, or didn’t provide as billed. This included complicated spinal injections Gooding did not possess the necessary equipment to carry out.Prosecutors said that Gooding is scheduled to be sentenced on June 26 and is looking at 10 years in prison on each count.Source

NASCAR-Xfinity United Rentals 200 Results

Published Tue, 25 Feb 2025 10:01:36 GMT

SaturdayAt Phoenix RacewayAvondale, Ariz.Lap length: 1.00 miles(Start position in parentheses)1. (11) Sammy Smith, Toyota, 200 laps, 55 points.2. (12) Ryan Truex, Toyota, 200, 35.3. (5) Sheldon Creed, Chevrolet, 200, 44.4. (10) Riley Herbst, Ford, 200, 43.5. (6) Chandler Smith, Chevrolet, 200, 33.6. (4) John H. Nemechek, Toyota, 200, 33.7. (8) Austin Hill, Chevrolet, 200, 39.8. (7) Josh Berry, Chevrolet, 200, 29.9. (38) Kyle Busch, Chevrolet, 200, 0.10. (3) Daniel Hemric, Chevrolet, 200, 41.11. (14) Sam Mayer, Chevrolet, 200, 33.12. (1) Cole Custer, Ford, 200, 30.13. (17) Brett Moffitt, Ford, 200, 24.14. (25) Anthony Alfredo, Chevrolet, 200, 28.15. (37) Parker Kligerman, Chevrolet, 200, 22.16. (9) Ryan Sieg, Ford, 200, 21.17. (18) Kyle Weatherman, Chevrolet, 200, 20.18. (15) Parker Retzlaff, Chevrolet, 200, 19.19. (19) Ryan Ellis, Chevrolet, 200, 18.20. (27) Jeremy Clements, Chevrolet, 200, 17.21. (20) Josh Williams, Chevrolet, 200, 16.22. (16) Jeb Burton, Chevrolet, 200, 15.23. (21...

Scheffler has 2-shot lead at Players on record day of scores

Published Tue, 25 Feb 2025 10:01:36 GMT

PONTE VEDRA BEACH, Fla. (AP) — Scottie Scheffler won early, holing a chip from deep rough for eagle on the par-5 second hole at The Players Championship to win a bet against his caddie on the number of times the Masters champion chips in during the season.The bigger payoff was the way Scheffler navigated 26 holes on Saturday — eight in the morning to finish the rain-delayed second round, 18 in the afternoon when the TPC Sawgrass was as soft and vulnerable as it gets — for a 7-under 65 to build a two-shot lead over Min Woo Lee of Australia.Still to come: A chance for Scheffler to capture another big prize against a strong field, return to No. 1 in the world and cash a $4.5 million winner’s check.“I would much rather win the tournament than get back to No. 1 in the world,” Scheffler said. “So that will be my focus going into tomorrow, just going out and having a solid round of golf.”Scheffler capped his long day with what amounted to a two-shot swing.Lee, the younger brother of ...

High-schooler Sammy Smith wins Xfinity race at Phoenix

Published Tue, 25 Feb 2025 10:01:36 GMT

AVONDALE, Ariz. (AP) — Sammy Smith won the Xfinity Series race at Phoenix Raceway on Saturday, the first victory for the 18-year-old high school student who is taking classes online so he can be a full-time driver.Making his 13th start in the last two years for Joe Gibbs Racing, Smith led the final 52 laps and held off Cup Series star Kyle Busch on two restarts to take the checkered flag for the first time in a NASCAR national series event.“It’s amazing. It’s a dream come true,” Smith said. “It’s awesome.”Ryan Truex finished second, followed by Sheldon Creed, Riley Herbst and Chandler Smith. Busch was second following a final restart with 15 laps to go, but made contact with Chandler Smith on the final lap and ended up ninth.Sammy Smith put JGR in victory lane in Phoenix for the 16th time in the second-tier series and for the sixth consecutive year — with six different drivers. Christopher Bell (2018), Busch (2019), Brandon Jones (2020), Daniel Hemric (2021) and Ty...

Lowry back for Heat, comes off bench for 1st time since ’13

Published Tue, 25 Feb 2025 10:01:36 GMT

ORLANDO, Fla. (AP) — Kyle Lowry played for the first time in more than a month, and did so without starting for the first time in more than a decade.The Miami Heat guard, who had missed his team’s last 15 games with left knee soreness, returned to game action at Orlando on Saturday night — coming off the bench. It was his first time playing as a reserve since Jan. 26, 2013.Lowry had started in each of his last 677 regular-season appearances, with 94 playoff games pushing that streak to 771. He checked in for the initial time with 6:21 left in the opening quarter.“He’s truly excited about getting back out there,” Heat coach Erik Spoelstra said. “He’s worked very diligently behind the scenes to prepare for this. I’m excited to have him back in the mix. We could use another spark right now during this stretch run.”Gabe Vincent started at point for Miami, with the Heat running a set play for him to get a layup on their opening possession. The first player off the bench to celebrate that...

Utah Royals to return next season as NWSL’s 13th team

Published Tue, 25 Feb 2025 10:01:36 GMT

The Royals are returning to Utah and the National Women’s Soccer League.The NWSL and Major League Soccer’s Real Salt Lake announced the second iteration of the Utah Royals on Saturday. The Royals were part of the NWSL for three seasons from 2018 to 2020.“When we acquired Real Salt Lake last year, we said it was a matter of when, not if, the NWSL would return to Utah. This has always been an integral part of our mission,” RSL co-owner David Blitzer said in a prepared statement.Michelle Hyncik, RSL’s general counsel, was named president of the Royals. America First Credit Union will be the team’s jersey sponsor. When FC Kansas City, one of the NWSL’s founding clubs, folded in 2017, its players were transferred to a new team in Utah owned by Dell Loy Hansen, who also owned Real Salt Lake. The original Royals folded in 2020 after Hansen relinquished ownership of both clubs. In an interview with a local radio station, Hansen had criticized MLS players for supporting the...

Burke’s defense too much for Randolph to handle

Published Tue, 25 Feb 2025 10:01:36 GMT

Over the last decade, Sean Ryan has attempted to establish a winning culture at Burke. In spite of the ever-changing landscape also known as the MIAA’s league ranks, the Bulldogs have always managed to find ways to stay competitive with their peers, regardless of which division they have been placed in.You can add another chapter to the program’s impressive legacy. Sophomore sensation Jaeden Roberts registered a game-high 24 points Saturday night, as second-seeded Burke clinched a trip to the Div. 4 boys basketball semifinals by unseating last year’s state champion with a convincing 68-50 rout of No. 7 Randolph.“Every team is different,” said Ryan. “Every team’s different offensively and defensively. They really bought into defense. As a coach, when a team does that, it’s really special. New guys, new faces, but they totally came together, especially during the mid-part of the year. I’m super happy for them.”Burke’s Josh Jean Charles, left, looks to shoot over Randolph’s...

Man killed in stabbing near gas station identified

Published Tue, 25 Feb 2025 10:01:36 GMT

SAN DIEGO -- A 42-year-old man killed in a stabbing near a San Ysidro gas station was identified Saturday, authorities said.Manuel Omar Rico Arellano, of Mexico, was announced as the deceased, Lt. Adam Sharki with the San Diego Police Department stated in a news release.The incident occurred early Wednesday at a gas station located in the 300 block of East San Ysidro Boulevard, when officers found Arellano with at least one stab wound to his upper body, according to police. He was taken to a hospital, where the medical staff pronounced him dead. California man is ‘the most dangerous person’ in a Michigan jail, judge says Detectives say Arellano was with a group of people at a vacant building before he was apparently stabbed without provocation. That's when he walked over to the gas station and was found by concerned citizens.On Thursday, a 32-year-old man suspected in the deadly stabbing was arrested at the San Ysidro Point of Entry pedestrian gate, Sharki said. He was identified ...