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US regulators say SVB customers will be made whole as second bank fails In an extraordinary action to restore confidence in America’s banking system, the Biden administration on Sunday guaranteed that customers of the failed Silicon Valley Bank will have access to all their money starting Monday. In a related action, the government shut down Signature Bank, an SVB rival that was teetering on the brink of collapse in recent days. Signature’s customers will receive a similar deal, ensuring that even uninsured deposits will be returned to them Monday. https://edition.cnn.com/2023/03/12/investing/svb-customer-bailout/index.html

A pub thought to be Britain's wonkiest has been put up for sale by its owners. The Crooked House on Himley Road, near Dudley is one of 61 freehold pubs being sold by Marston's PLC. It comes as part of a nationwide review by the Wolverhampton-based company, which owns about 1,500 pubs across the UK. https://www.bbc.com/news/uk-england-birmingham-64912966

At least eight people have died after two smuggling boats capsized near the shore of Black’s Beach in San Diego County, California, officials said. Authorities responded to the scene Saturday around 11:30 p.m. local time after someone on one of the panga boats, a type of small fishing boat powered by an outboard motor, called 911 to report victims in the water, according to the San Diego Fire-Rescue Department. The 911 caller, a Spanish-speaking woman, reported two boats had overturned near the Torrey Pines City Beach access route to Black’s Beach, said James Gartland, lifeguard chief for the San Diego Fire-Rescue Department, during a Sunday news conference. https://www.cnn.com/2023/03/12/us/boat-capsized-san-diego-california/index.html

Silicon Valley Bank’s collapse last week sent tingles of panic down investors’ spines as it highlighted a larger problem across the banking sector: The widening gap between the value large lenders place on the bonds they hold and what they’re actually worth on the market. SVB’s downfall was tied, in part, to the plunge in the value of bonds it acquired during boom times, when it had a lot of customer deposits coming in and needed somewhere to park the cash. But SVB isn’t the only institution with that issue. US banks were sitting on $620 billion in unrealized losses... https://www.cnn.com/2023/03/12/investing/stocks-week-ahead/index.html

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The Chinese embassy urged the Philippines to move in the right direction to maintain good neighborly relations and warned the country to “do not bring wolves into the house”. “China, the Philippines and other countries in the region are in the process of recovering from Covid-19. We should be on the right track to maintain good neighborly relations and achieve mutual benefits, instead of being distracted by The forces are pouring fuel on the fire and dividing us,” the Chinese embassy in the Philippines said on March 12. https://vietnam.postsen.com/world/260419/China-warns-Philippines-‘not-to-bring-wolves-into-the-house’.html

Over 8,500 residents have been urged to evacuate immediately after a 100-foot-wide breach emerged along California's Pajaro River around midnight Saturday morning as the state has faced a series of storms. The levee break comes as the state faces unrelenting rain, which could last until Wednesday. "My heart hurts tonight for the residents of Pajaro. https://abcnews.go.com/US/californias-pajaro-river-breaches-overnight-residents-urged-evacuate/story?id=97788662

Indonesia's Mount Merapi erupted on Saturday with avalanches of searing gas clouds and lava, forcing authorities to halt tourism and mining activities. Merapi, on the densely populated island of Java, unleashed clouds of hot ash and a mixture of rock, lava and gas that travelled up to seven kilometres down its slopes. A column of hot clouds rose 100 metres into the air, according to National Disaster Management Agency spokesperson Abdul Muhari. https://www.abc.net.au/news/2023-03-12/indonesia-merapi-volcano-spews-hot-clouds-in-new-eruption/102084976

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The Biden administration is soon set to approve ConocoPhillips’ Willow Project, a major oil drilling project on Alaska’s North Slope, according to a congressional source familiar with the details. The decision will be announced next week, the source confirmed. The expected approval is a victory for Alaska’s bipartisan congressional delegation and a coalition of Alaska Native tribes and groups who hailed the drilling venture as a much-needed new source of revenue and jobs for the remote region. https://edition.cnn.com/2023/03/10/politics/alaska-oil-willow-drilling-project-white-house/index.html

Gary Lineker has been told to step back from presenting Match of the Day until an agreement is reached on his social media use, the BBC has said. It follows an impartiality row over comments he made criticising the government's new asylum policy. The BBC said it considered Lineker's "recent social media activity to be a breach of our guidelines". https://www.bbc.com/news/uk-64920557

Hamburg shooting: Police spoke to gunman weeks before attack A man who shot dead seven people in Germany was visited by police last month after a tip-off raised concerns about his mental health. He co-operated with officers and there were not enough grounds to take away his gun at the time, police said. The 35-year-old suspect, named only as Philipp F, had a licence to own the weapon for sporting purposes. https://www.bbc.com/news/world-europe-64918160

Silicon Valley Bank collapsed Friday morning after a stunning 48 hours in which its capital crisis set off fears of a meltdown across the banking industry. Its failure marks the largest shutdown of a US bank since 2008, when Washington Mutual fell during the financial crisis. California regulators closed down the tech lender and put SVB in control of the US Federal Deposit Insurance Corporation. https://www.cnn.com/2023/03/10/investing/svb-bank/index.html

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From a horror movie plot to real life: Scientists have revived ancient "zombie" viruses from permafrost and discovered they could still infect living single-celled amoebae. The chances of these viruses infecting animals or humans are unclear, but the researchers say permafrost viruses should be considered a public health threat. Permafrost is a layer of soil that remains completely frozen year-round — at least it used to, before human activities started raising global temperatures. It covers 15% of land in the Northern Hemisphere. https://www.yahoo.com/news/scientists-revived-zombie-virus-frozen-190900438.html

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A $1.6bn defamation lawsuit against Fox News has pulled back the curtain on the inner workings of the powerful conservative cable network in the days after the 2020 US presidential election. Dominion Voting Systems, a voting-machine manufacturer, alleges that Fox knowingly aired false allegations that their devices helped Joe Biden and the Democrats "steal" the election. To make their case, the company has called dozens of Fox executives and journalists to testify in depositions and subpoenaed thousands of pages of their text messages and emails. https://www.bbc.com/news/world-us-canada-64895964

A Mexican drug cartel has reportedly sent a letter apologizing for last Friday's deadly kidnapping that killed two Americans and a local woman, the Associated Press reports. The AP obtained a copy of the letter from a law enforcement source in the Mexican state of Tamaulipas, where the kidnappings took place. The letter, which purports to be from the Gulf Cartel, claims those who carried out the attack have been turned in to law enforcement. https://people.com/crime/mexican-drug-cartel-apology-letter-americans-kidnapped-report/

Several killed in shooting in Germany church in Hamburg Several people are reported to have been killed in a shooting in Hamburg, Germany. Police said in a tweet that a large-scale operation was under way in the city's northern Alsterdorf area. Ambulances are at the scene and German police are searching for the attackers, local media report. https://www.bbc.com/news/world-europe-64910415