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CPPIB part of joint venture to buy stake in Signature Bank loan portfolio

Published Tue, 25 Feb 2025 08:26:12 GMT

TORONTO — The Canada Pension Plan Investment Board is part of a group that has signed a deal to buy a 20 per cent stake in a joint venture that will hold a US$16.8-billion commercial mortgage loan portfolio of Signature Bank, which failed earlier this year.CPPIB, together with Blackstone Real Estate Debt Strategies, Blackstone Real Estate Income Trust Inc. and Rialto Capital, have agreed to acquire the stake for US$1.2 billion.The U.S. Federal Deposit Insurance Corp., which has held the portfolio since the bank’s failure, will maintain an 80 per cent stake in the venture. The portfolio includes more than 2,600 first mortgage loans on a variety of properties primarily located in the New York metropolitan area. Blackstone will be the lead asset manager of the portfolio and Rialto Capital will act as the loan servicer and operating partner. New York-based Signature Bank was one of the largest U.S. banks to fail earlier this year.This report by The Canadian Press was first publish...

Violent crime spree in Bridgeport ends in death of suspect in car crash

Published Tue, 25 Feb 2025 08:26:12 GMT

CHICAGO — A violent crime spree in the Bridgeport neighborhood on the city's South Side ended Friday morning with the death of a suspect.According to the Chicago Police Department, a suspect wanted for multiple crimes, including the sexual assault of a female victim, kidnapping and armed robbery, was killed in a car crash. The crash happened after the suspect hit a squad car then rolled into a field.According to police, an unidentified man entered a residential building in the Bridgeport neighborhood very early Friday morning. He approached a female, produced a knife and proceeded to batter and sexually assault the victim.Police say the offender then encountered two more female victims and forced them and the sexual assault victim into a residence, then robbed all three at knifepoint. A male then entered the residence and was also held at knifepoint and robbed. Body found in trunk of burning vehicle on South Side At this time, according to police, the sexual assault victim was abl...

Ed Burke trial: Jury deliberations could begin as soon as Monday

Published Tue, 25 Feb 2025 08:26:12 GMT

CHICAGO — Jurors in Ed Burke's federal trial could begin deliberations as soon as Monday.Lawyers for Burke and his co-defendants are making their closing arguments Friday.Defense attorney Joe Duffy assailed the government's case, calling it nothing but "noise."He harshly criticized the choice of prosecutors to build the case around recordings made by former alderman turned government mole Danny Solis. They pointed out he did not testify to explain the recordings.Duffy called Solis a "con man."He said in each of the cases of alleged extortion, none of the so-called victims contacted law enforcement. Instead, he said it was the FBI grasping to make a case.“Nobody complained, nobody thought they were a victim until the FBI knocked on their door and started playing tapes,” Duffy said. Ed Burke trial: Closing arguments continue Thursday Burke is charged with 14 counts of racketeering, bribery and extortion.Later Friday, the attorneys for his co-defendants, longtime aide Peter Andrews a...

Latest Covid variant spreading fast — and more

Published Tue, 25 Feb 2025 08:26:12 GMT

Medical Watch Digest for Dec 15Certain E-Cigs BlockedFederal agents announced the seizure more than one million illegal e-cigarettes at the Los Angeles international airport.The cigarettes came from overseas manufacturers over the summer -- including the Chinese company Elf Bar. That's a line of fruity vapes that's become a favorite among American teens.Many of the containers were mislabeled as toys, shoes, and other household items.Earlier this year, the FDA instructed customs officials to begin seizing illegal shipments.Officials estimate the value of the seizure at about $18 million and the products will likely be destroyed.FDA sends update on implantsThe FDA sent out an update on the risk and complications related to breast implants.They include reports of breast implant associated anaplastic large cell lymphoma.The agency says it's improved labeling of systemic symptoms for breast implants and encourages patients to report any adverse effect associate with implants. More Cove...

Senator defends whole milk by chugging full glass on Senate Floor

Published Tue, 25 Feb 2025 08:26:12 GMT

WASHINGTON (NEXSTAR) – Milk was at the center of debate on Capitol Hill this week.“Before I start talking, I just want to a quick drink of this super delicious milk,” Sen. Roger Marshall (R-Kansas) said on the Senate floor Thursday before drinking a glass of whole milk. “I rise today to set the record straight. Milk’s part of the solution, not part of the problem. Let’s bring back this tasty and nutritious option.”Marshall is calling on his colleagues to pass The Whole Milk for Healthy Kids Act. The bill, which passed the House on Wednesday 330-90, would end the ban on 2% and whole milk in public schools.“We want people to drink the kind of milk they want to drink,” Rep. Virginia Foxx (R-NC) said. “If whole milk is a good option to fuel Santa’s extraordinary Christmas Eve journey, then why isn’t it an option for American schoolchildren in their lunchrooms?”Lawmakers in support of the bill argued that the USDA’s nutritional guidelines implemented in 2012 to only allow low-fat or fat ...

Trader Joe's discontinues festive seasonal treat: 'This is devastating!'

Published Tue, 25 Feb 2025 08:26:12 GMT

(NEXSTAR) – Shoppers at Trader Joe’s won’t be finding any mint in their ‘mallows this season.In a statement provided to Nexstar, the grocery chain confirmed that Minty Mallows — a chocolate-covered peppermint marshmallow product usually found during the holidays — is no longer offered in stores. Trader Joe’s cashiers have a reputation for flirting. CEO says there’s a good reason Trader Joe’s did not specify why Minty Mallows were discontinued, but provided several general reasons that a TJ’s product might be pulled from shelves, including poor sales or a change in the production costs.“Our mission is to bring customers the best quality products at the best prices. To do this, we have to manage our store space (which is not expansive) well,” a representative for the company wrote, in part. The spokesperson further suggested that customers could still get their “chocolate pepperminty fix” from current products like Candy Cane Joe-Joe’s or Peppermint-Flavored Baking Chips.Trader Joe’...

Melania Trump makes rare speech at naturalization ceremony

Published Tue, 25 Feb 2025 08:26:12 GMT

WASHINGTON (NEXSTAR) – Former first lady Melania Trump spoke at the National Archives Friday to welcome 25 people from 25 nations being sworn in as new U.S. citizens.“I recall feeling a tremendous sense of pride and belonging after I recited the United States oath of alliance,” Trump said.She recounted the difficult journey from her home country of Slovenia, her modeling career, and eventually making her home New York City.The former first lady congratulated the naturalized citizens and said, “I applaud you for every step you took, every obstacle you overcame, and every sacrifice you made.”Melania’s remarks at the National Archives have a coincidental connection to her husband, former President Donald Trump, who is embroiled in a lawsuit alleging that he withheld sensitive documents from the archives.The Associated Press was used as a source in this story.

NOAA: Almost 100% chance 2023 will be hottest year recorded

Published Tue, 25 Feb 2025 08:26:12 GMT

(The Hill) – There is almost a 100% chance that 2023 will be the hottest year ever recorded, the National Oceanic and Atmospheric Administration (NOAA) announced.Specifically, there is a “greater than 99% chance that 2023 will rank as Earth’s warmest year on record,” NOAA’s National Centers for Environmental Information said.The previous record-breaking year was 2016, but 2023 was “considerably warmer,” by .20 degrees Fahrenheit, according to NOAA.NOAA reported that November 2023 was also the warmest November in the organization’s 174 years of record-keeping, continuing the above-average warm streak of 2023. El Niño predicted to flood both coasts: Here’s where risk is highest The average global land and ocean surface temperature for November 2023 was 2.59 degrees Fahrenheit above average. November's temperatures marked the sixth consecutive record-warm month and the eighth consecutive month in which global ocean-surface temperatures were record high.It was also the “47th-consecuti...

Zillow's 2024 Housing Market Predictions for Austin, Nation

Published Tue, 25 Feb 2025 08:26:12 GMT

AUSTIN (KXAN) — Real estate marketplace Zillow has predictions for what will happen to the Austin and national housing markets in 2024, including cost decreases, supply increases and the arrival of generative computer programs (often called artificial intelligence or AI) to the buying process.Zillow on Austin's market from 2021-2023In 2021, Zillow declared Austin the nation's hottest housing market. It cooled slightly on Austin in 2022, but still ranked the city as the 10th hottest. In 2023, the company declared Austin's housing market "ice cold."But in a Thursday interview, Zillow Senior Economist Orphe Divounguy said that 2023 has been "a great year" for Austin and the U.S."We started the year with high inflation that of course affected mortgage rates, and a cooling housing market," Divounguy said. "Austin is one of those metros that really lead the way when it comes to the building of new housing... housing inventory is now up 23% compared to before the [COVID-19] pandemic."He ex...

Renters, workers, churches and sports fans, check out these new Minnesota laws that take effect Jan. 1

Published Tue, 25 Feb 2025 08:26:12 GMT

As the new year begins, Minnesotans will see some changes to state law, ranging from free menstrual products for public or charter school students to guaranteed sick time for almost all workers.The new laws take effect on Jan. 1, 2024, and the summaries come courtesy of the nonpartisan Minnesota House Public Information Services. Longer summaries are available at house.mn.gov/newlaws/search/2023.Menstrual products in schoolsMinnesota public and charter schools will be required to provide access to menstrual products at no charge. Products are required to be available in restrooms regularly used by students in grades 4 to 12, following a plan developed by each school district.Political donation refund increaseAs part of the tax and policy finance law, the political contribution refund that Minnesotans can give to in-state political parties and candidates for state offices is increasing from $50 to $75 for individuals and from $100 to $150 for married joint filers.Limiting internation...