Credit Suisse takeover hits heart of Swiss banking, identity

Published Fri, 21 Feb 2025 15:23:46 GMT

GENEVA (AP) — The UBS takeover of embattled rival Credit Suisse has shaken Switzerland’s self-image and dented its reputation as a global financial center, analysts say, warning that the country’s prosperity could grow too dependent on a single banking behemoth.The uncertain future of a union of Switzerland’s two global banks comes at a thorny time for Swiss identity, built nearly as much on a self-image of finesse in finance as on know-how with chocolate, watchmaking and cheese.Regulators who helped orchestrate the $3.25 billion deal have a lot on their plates as UBS checks the books of its rival, cherry-picks the parts it wants and dispenses with the rest.“The real question is what’s going to happen, because we’ll now have a mastodon — a monster — that will be increasingly too big to fail,” said Marc Chesney, a finance professor at the University of Zurich. “The danger is that over time, it will take more risks knowing that it is too big for the Swiss state to abandon it.”After st...

Russia-Ukraine war: Will there be a spring counteroffensive?

Published Fri, 21 Feb 2025 15:23:46 GMT

Europe’s biggest armed conflict since World War II is poised to enter a new phase in the coming weeks.With no suggestion of a negotiated end to the 13 months of fighting between Russia and Ukraine, the Ukrainian defense minister said last week that a spring counteroffensive could begin as soon as April.Kyiv faces a key tactical question: How can the Ukrainian military dislodge Kremlin forces from land they are occupying? Ukrainian President Volodymyr Zelenskyy is working hard to keep his troops, and the general public, motivated for a long fight.Here’s a look at how the fighting has evolved and how the spring campaign might unfold:HOW DID THE WAR GET HERE?Russia launched its full-scale invasion of Ukraine on Feb. 24 2022, but its attacks fell short of some main targets and lost momentum by July. Ukrainian counteroffensives took back large areas from August through November.Then the fighting got bogged down in attritional warfare during the bitter winter and into the muddy, early spr...

March Madness: Clark show continues, Iowa vs. LSU for title

Published Fri, 21 Feb 2025 15:23:46 GMT

Iowa’s Caitlin Clark is the undeniable star of March Madness. Now she will get to play in April.The Hawkeyes’ high-scoring guard, who was named the Associated Press Player of the Year this week, scored 41 points to lead the Hawkeyes over previously undefeated South Carolina 77-73 in the Final Four on Friday night. The loss denied South Carolina — the No. 1 team all season — a chance at a second straight title.No. 2 seed Iowa will face LSU in Sunday’s title game after the third-seeded Tigers used a big fourth quarter to overtake top-seeded Virginia Tech 79-72.Clark has wowed fans for the past month and certainly didn’t seem fazed by any pressure against mighty South Carolina. She shot 15 of 31 from the field and hit four clutch free throws in the final minute to keep the Hawkeyes ahead.LSU used a 29-point fourth quarter to rally for its win over Virginia Tech earlier Friday. Alexis Morris led the way with 27 points.LSU coach Kim Mulkey has taken the Tigers to ...

Verstappen takes pole position at Australian Grand Prix

Published Fri, 21 Feb 2025 15:23:46 GMT

MELBOURNE, Australia (AP) — Max Verstappen will have his best chance of claiming an inaugural Australian Grand Prix title after taking pole position in his Red Bull for Sunday’s race on the Albert Park circuit.But the two-time world champion was not pleased with the performance of his RB19 despite setting a track record around the circuit on Saturday. After setting a lap record during practice earlier on Saturday, the drivers’ championship leader set a benchmark of 1 minute, 16:732 seconds in the final session of qualifying.“I have been on the podium once, but I want to be on a different step this time,” Verstappen said after claiming his first pole position in Australia. Mercedes driver George Russell will share the front row of the starting grid after recording a time 0.236 seconds slower than Verstappen.Seven-time world champion Lewis Hamilton will start in third position on what was an encouraging day for Mercedes, with Aston Martin’s Fernando Alonso qualifying fourth.“Thi...

Curry, Poole, Thompson shoot Warriors past Spurs 130-115

Published Fri, 21 Feb 2025 15:23:46 GMT

SAN FRANCISCO (AP) — Jordan Poole cherishes all of the moments around superstars Stephen Curry and Klay Thompson, from the practice floor behind the scenes to under the bright lights and noise of game night.Poole joined the Splash Brothers with 200 3-pointers this season, making Golden State just the second team in NBA history to ever do it. “It’s really special to be a part of, second team in history to do it,” Poole said. “Up there with really good company.”Curry, Thompson and Poole combined for 20 3-pointers with Curry scoring 33 points, Thompson 31 and Poole 27 to send the Warriors past the San Antonio Spurs 130-115 on Friday night. Poole’s first of six 3s gave Golden State three players with 200 or more 3-pointers this season. The Warriors joined Houston in 2016-17 — by James Harden, Eric Gordon and Ryan Anderson — as the only teams to do so. Just one other 3 was made by the rest of Golden State’s players all night.“It’s not easy to make 200 3s in a season, so...

Lewis’ pinch-hit homer lifts D-backs over Dodgers 2-1

Published Fri, 21 Feb 2025 15:23:46 GMT

LOS ANGELES (AP) — Kyle Lewis had a pinch-hit, go-ahead two-run homer in the eighth inning and the Arizona Diamondbacks rallied to beat the Los Angeles Dodgers 2-1 on Friday night.The D-backs used three consecutive pinch-hitters to open the inning against Alex Vesia (0-1). After Nick Ahmed grounded out to third, Evan Longoria doubled into the left-field corner. That set up Lewis, who sent a 383-foot shot to left-center for his first career pinch-hit homer, making it 2-1.“It was a good one,” Lewis said. “I try to just be ready for it.”The Dodgers had the potential tying and go-ahead runs on base with two outs in the eighth. Miguel Vargas walked and took second on a wild pitch by Scott McGough before James Outman drew a walk. But Miguel Rojas lined into the glove of shortstop Ahmed to end the threat in a game that lasted two hours and 41 minutes.Mookie Betts drew a leadoff walk against McGough in the ninth. He got erased when Freddie Freeman grounded into a fielder’s choic...

NBA, players reach deal for a new labor agreement

Published Fri, 21 Feb 2025 15:23:46 GMT

The NBA will have labor peace for years to come.The league and its players came to an agreement early Saturday on a new seven-year collective bargaining agreement, the NBA announced. It is still pending ratification, though that process is almost certainly no more than a formality.The deal will begin this summer and will last at least through the 2028-29 season. Either side can opt out then; otherwise, it will last through 2029-30.Among the details, per a person familiar with the negotiations who spoke to The Associated Press: the in-season tournament that Commissioner Adam Silver has wanted for years will become reality, and players will have to appear in at least 65 games in order to be eligible for the top individual awards such as Most Valuable Player. The person spoke on condition of anonymity because neither the league nor the National Basketball Players Association released specifics publicly.Another new part of the CBA will be a second luxury tax level that, when reached, wi...

San Diego State Aztecs take on the Florida Atlantic Owls in Final 4

Published Fri, 21 Feb 2025 15:23:46 GMT

Florida Atlantic Owls (35-3, 18-2 C-USA) vs. San Diego State Aztecs (31-6, 15-3 MWC)Houston; Saturday, 6:09 p.m. EDTFANDUEL SPORTSBOOK LINE: San Diego State -2.5; over/under is 131.5BOTTOM LINE: The No. 18 San Diego State Aztecs take on the No. 25 Florida Atlantic Owls in the NCAA Tournament Final Four.The Aztecs’ record in MWC games is 15-3, and their record is 16-3 in non-conference play. San Diego State is 25-6 against opponents with a winning record.The Owls are 18-2 against C-USA opponents. Florida Atlantic is 27-3 against opponents with a winning record.TOP PERFORMERS: Adam Seiko averages 1.5 made 3-pointers per game for the Aztecs, scoring 6.1 points while shooting 46.1% from beyond the arc. Matt Bradley is shooting 36.0% and averaging 11.0 points over the last 10 games for San Diego State.Johnell Davis is scoring 13.9 points per game and averaging 5.5 rebounds for the Owls. Alijah Martin is averaging 2.2 made 3-pointers over the last 10 games for Florida Atlantic.LAST ...

Verstappen takes pole position at F1 Australian Grand Prix

Published Fri, 21 Feb 2025 15:23:46 GMT

MELBOURNE, Australia (AP) — Max Verstappen will have his best chance of claiming an inaugural Australian Grand Prix title after taking pole position in his Red Bull for Sunday’s third race of the Formula One season on the Albert Park circuit.Seven-time world champion Lewis Hamilton is among rivals sharing renewed hope after the dominance Red Bull has had over its rivals was diminished during Saturday’s qualifying session.Verstappen, a two-time world champion, was not pleased with the performance of his RB19 despite setting a track record around the circuit on Saturday.After setting a lap record during practice earlier on Saturday, the drivers’ championship leader set a benchmark of 1 minute, 16:732 seconds in the final session of qualifying.“I have been on the podium once, but I want to be on a different step this time,” Verstappen said after claiming his first pole position in Australia.His teammate Sergio Perez, who sits just one point behind the Dutch driver in the championship, ...