Headline News from The Associated Press
AP Headline News - Mar 28 2024 13:00 (EDT)
If he news, I'm Ben Thomas, a cryptocurrency pioneer has been sentenced to 25 years in prison for a $10 billion fraud scheme that collapsed the company FTX. Checkie Quinn has details. Entrepreneur Sam Bankman Fried has received a 25-year sentence for fraud and conspiracy. The 32-year-old was found guilty in November of using billions of dollars from FTX to positives, customers, investors and lenders to gain influence and dominance in the cryptocurrency space that included buying luxury properties in the Caribbean, private airplanes and paying bribes to foreign officials. The judge said the sentence reflected, "There's a risk that this man will be in a position to do something very bad in the future," and said the jail time was intended to disable that ability. I'm Jackie Quinn. The Palestinian Authority, which administers parts of the Israeli-occupied West Bank, has announced formation of a new cabinet. U.S. wants a revitalized Palestinian Authority to administer post-war Gaza. Israel has rejected that idea, saying its forces will maintain open-ended security control. White House National Security spokesman John Kirby will be looking for this new government to deliver on policies and to implement those credible and far-reaching reforms. And we've long talked about a revitalized Palestinian Authority and how important that's going to be to eventually delivering results for the Palestinian people. In the West Bank, Israeli Authority say an attacker wounded three people after opening fire on vehicles. The military says it's still searching for the shooter. At the U.N., Russia vetoed a Security Council resolution that would have extended the mandate of experts monitoring U.N. sanctions against North Korea. At an investigation led by the AP has found over a decade more than 1,000 people died after police subdued them using methods not intended to be lethal. Medical officials cited the force in about half the cases. In others, officers didn't follow best safety practices. This is AP News. The government's upgraded its estimate of fourth-quarter economic growth to 3.4 percent. And some job cuts in the auto industry. Three to fully heads to tails. With 55 percent from 2022, but dealers are now reporting slower sales and rising inventories on the electric truck, which starts at just under $50,000. So what about the workers? Will Ford will transfer 700 workers to the Michigan Assembly plant in Wayne to build the Bronco and Ranger. 700 more workers will either take a retirement package or will accept another assignment in Southeast Michigan. I'm Rita Folle. And I'm Ben Thomas, AP News at independent financial. We know you work hard for your business. That's why we work hard for you. Our local bankers are ready to jump in and support your next vision or venture. And we have the resources to make it happen. Ready to get down to business? Let's talk. Learn more at iFinancial.com Independent financial banking for business banking for life. Member FDIC. Find your perfect fit with a custom suit from Indochino. From timeless classics to bold statements, you can express your style exactly how you want. Get 10% off any purchase of $3.99 or more at indochino.com with code podcast. When everyone's on the same page, getting things done at work is easy. Make a bigger impact at work with Grammarly. Grammarly is your secure AI writing partner that allows your team to make their point and move faster. You can even save time by going from spending hours editing drafts to just seconds. Join the 96% of Grammarly users that say it helps them craft more impactful writing. Sign up and download Grammarly for free at grammarly.com/podcast. That's Grammarly.com/podcast. Easier said, done.