NEW YORK — The trial of Archegos founder Bill Hwang for alleged securities fraud and market manipulation opened in New York on Monday, and focused on the fund's spectacular 2021 implosion that cost large banks billions of dollars. The family-owned hedge fund run by Hwang had taken huge bets on a few stocks with money borrowed from banks, and when several of those bets turned sour, the fund was unable to meet "margin calls" to cover the losses. The 2021 collapse of the fund sent shock waves… Read Full Article

mumbai, india — At least four people are dead, 61 injured and more than 40 feared trapped after a massive billboard fell during a rainstorm in India's financial capital of Mumbai on Monday, local officials said. The rainstorm was accompanied by gusty winds, causing the billboard, located next to a busy road in the eastern suburb of Ghatkopar, to collapse on some houses and a gas station. A rescue operation for the people remaining trapped under the billboard is ongoing. Fire services,… Read Full Article

islamabad — The United States and Pakistan have concluded their latest round of counterterrorism talks, agreeing to intensify their collaboration in the fight against terrorist organizations like the Pakistani Taliban and a regional Islamic State affiliate. Washington and Islamabad issued a joint statement simultaneously on Monday, saying the May 10 bilateral dialogue hosted by the U.S. was centered on tackling “the most pressing challenges to regional and global security.” The meeting… Read Full Article

Fierce fighting is reported as Israel says it is targeting areas of where Hamas has regrouped.

Fierce fighting is reported as Israel says it is targeting areas of where Hamas has regrouped.

washington — President Joe Biden on Monday issued an order blocking a Chinese-backed cryptocurrency mining firm from owning land near a Wyoming nuclear missile base.  The order forces the divestment of property operated as a crypto mining facility near Francis E. Warren Air Force Base. It also forces the removal of certain equipment owned by MineOne Partners Ltd., a firm that is partly owned by the Chinese state.  This comes as the U.S. is slated on Tuesday to issue major new tariffs on… Read Full Article

pittsburgh — Dr. Cyril Wecht, a pathologist and attorney whose biting cynicism and controversial positions on high-profile deaths such as President John F. Kennedy's 1963 assassination caught the attention of prosecutors and TV viewers alike, died Monday. He was 93. Wecht's death was announced by the Administrative Office of Pennsylvania Courts, which did not disclose a cause or place of death, saying only that he "passed away peacefully." Wecht's almost meteoric rise to fame began in 1964… Read Full Article

More than 200 people attended the European mullet festival in Quievrain, Belgium

More than 200 people attended the European mullet festival in Quievrain, Belgium

The EBU says it "regrets" that some countries "didn’t respect the spirit" of the contest in Sweden.