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Amnesty denounces police misuse of rubber bullets worldwide

Amnesty International has called for better global regulation of “less lethal weapons” used by police against peaceful protesters, after research in over 30 countries showed an alarming increase in eye injuries, bone fractures, brain injuries, and even deaths caused by rubber bullets, tear gas grenades and rubberised buckshot. Amnesty said legally-binding global controls on the manufacture and trade in such weapons are urgently needed to combat escalating abuses.

Markets mixed as traders weigh US support after SVB collapse

US promises to protect troubled lenders eased concerns about the financial sector following the closure of two banks over the weekend, as equity markets were mixed. Silicon Valley Bank’s collapse and the sale of securities caused its shares to plummet 60%, leading regulators to close the bank. Meanwhile, New York regulators closed Signature Bank. The Federal Reserve, Treasury Department, and Federal Deposit Insurance Corp. pledged to protect depositors and lenders struggling to find cash. SVB is the largest retail bank to fail since the 2008 financial crisis.

HSBC buys failed US bank SVB’s UK arm for £1

HSBC has bought the UK arm of Silicon Valley Bank for just £1 in a rescue deal that ensures customer deposits remain protected and unaffected. The acquisition will allow HSBC to expand its ability to support fast-growing firms, particularly those in the tech and life sciences sectors. The deal comes after SVB collapsed last Friday due to customers making large withdrawals, making it the largest bank failure since 2008.

Governments to vet crucial UN climate science report

Nearly 200 nations and climate scientists meet to discuss the existential danger of global warming in Switzerland. The UN IPCC’s synthesis report will address ways to halt carbon pollution and the impact of heat waves, flooding, and rising seas. The report will also discuss ways to decarbonize the economy and the need for urgent action.

US, S.Korea kick off largest drills in five years

The US and South Korea have launched their largest joint military exercises in five years, called Freedom Shield, focusing on the “changing security environment” due to North Korea’s increased aggression. North Korea views the drills as rehearsals for an invasion and had fired two “strategic cruise missiles” from a submarine in waters off its east coast over the weekend. Experts predict that North Korea will use the exercises as an excuse to further invest in weapons of mass destruction, with more missile launches and acts of intimidation likely.

US regulators rush to contain SVB fallout, as a second bank fails

US authorities have unveiled measures to rescue depositors’ money in full from failed Silicon Valley Bank and to promise other institutions help in meeting customers’ needs, as they announced a second tech-friendly bank had been closed by regulators. Deposit guarantees will ensure that all customers receive their money back in full. The Federal Reserve will also make extra funding available to banks to help them meet the needs of depositors, which would include withdrawals.

Yellen rules out SVB bailout but US said to weigh protecting deposits

US officials are reportedly considering safeguarding all uninsured deposits at Silicon Valley Bank (SVB) after the bank’s collapse left billions in deposits up in the air. Treasury Secretary Janet Yellen said the government wants to avoid financial “contagion” from the implosion, but ruled out a bailout. SVB was taken over by regulators on Friday after a huge run on deposits left the medium-sized bank unable to stay afloat on its own. The bank’s failure has caused concerns about possible ripple effects on technology and life science companies, as well as the cryptocurrency world.

Markets rattled as bank shares hammered

Global markets suffer losses after US jobs data raises the possibility of aggressive interest rate hikes, and the collapse of Silicon Valley Bank adds to the uncertainty in the banking sector. Shares in HSBC, Standard Chartered, Barclays, and Lloyds all fell, as did Deutsche Bank and Societe Generale. Despite the news, JPMorgan Chase and Bank of America had mixed performances, and the dollar fell against its main rivals despite the expected US interest rate hikes.

Power cut to Paris 2024 Olympic sites in pensions protest: union

French labour union cuts power to Olympic Village and Stade de France stadium in protest of controversial pension reform. Transport and public services have been disrupted for three days. The government says raising the retirement age and pension requirements are necessary to avoid a deficit.

73 women journalists will spend 8 March behind bars

On International Women’s Day, Reporters Without Borders (RSF) calls for the immediate and unconditional release of imprisoned women journalists throughout the world, and sounds the alarm about the disappearance of women journalists from the Afghan media landscape.