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<p>Italian automaker Ferrari on Monday informed a significant data breach took place at the company and that customers and their personal data may be at risk. A hacker was reportedly able to infiltrate the IT system of the luxury sports car maker and made a call for ransom in return for the data.&nbsp;</p>

<p>"We regret to inform you of a cyber incident at Ferrari, where a threat actor was able to access a limited number of systems in our IT environment," Ferrari informed in a statement.&nbsp;</p>

<p>The letter dated&nbsp;March 21 added that Ferrari was "recently contacted by a threat actor with a ransom demand related to certain client contact details". However, the Maranello-based company said it was not going to bow in front of the hacker and pay the ransom.&nbsp;</p>

<p><a href="https://www.wionews.com/world/already-expensive-ferrari-supercars-to-get-even-more-costly-supply-chain-and-inflation-to-be-blamed-503260" target="_blank"><strong>ALSO READ | Already expensive Ferrari supercars to get even more costly. Supply chain and inflation to be blamed</strong></a></p>

<p>"As a policy, Ferrari will not be held to ransom as paying such demands funds criminal activity and enables threat actors to perpetuate their attacks."</p>

<p>It added that the best course of action remains to inform the customers about the potential data exposure and the nature of the incident. The customer information exposed to the hacker includes names, addresses, email addresses and telephone numbers.&nbsp;</p>

<p>Ferrari CEO Benedetto Vigna tried to calm down the situation by stating that no payment details,&nbsp;bank account numbers and/or sensitive payment information had been accessed by the alleged hacker.&nbsp;</p>

<p>Ferrari added it had been working with&nbsp;third-party experts to secure its IT systems whilst informing about hiring a leading cybersecurity firm to investigate the matter. The concerned authorities have also been informed.&nbsp;</p>

<p><strong>Watch |&nbsp;World Business Watch: Ferrari says no evidence of system breach</strong></p>

<p><iframe allowfullscreen="" autoplay="1" frameborder="0" height="350" src="https://www.wionews.com/videos/world-business-watch-ferrari-says-no-evidence-of-system-breach-522243/embed" width="560"></iframe></p>

<h2><strong>Ferrari's&nbsp;7GB of internal documents hacked</strong></h2>

<p>Notably, this is not the first instance when Ferrari has fallen prey to a ransomware attack, Last year in October, internal documents belonging to the brand had been posted online.&nbsp;</p>

<p><a href="https://www.wionews.com/world/ferrari-falls-victim-to-ransomware-attack-7gb-of-its-internal-documents-made-public-522248" target="_blank"><strong>ALSO READ | Ferrari falls victim to ransomware attack; 7GB of its internal documents made public</strong></a></p>

<p>Ransomware gang, RansomEXX, on its Tor leak site claimed that it has breached Ferrari stealing 6.99 GB of data, which not only included internal documents but also datasheets and repair manuals amongst other items.&nbsp;</p>

<p><em>(With inputs from agencies)</em></p>

<p><strong>WATCH WION LIVE HERE:&nbsp;</strong></p>

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Italian automaker Ferrari on Monday informed a significant data breach took place at the company and that customers and their personal data may be at risk. A hacker was reportedly able to infiltrate the IT system of the luxury sports car maker and made a call for ransom in return for the data.

Italian automaker Ferrari on Monday informed a significant data breach took place at the company and that customers and their personal data may be at risk. A hacker was reportedly able to infiltrate the IT system of the luxury sports car maker and made a call for ransom in return for the data. "We regret to inform you of a cyber incident at Ferrari, where a threat actor was able to access a limited number of systems in our IT environment," Ferrari informed in a statement. The letter dated March 21 added that Ferrari was "recently contacted by a threat actor with a ransom demand related to certain client contact details". However, the Maranello-based company said it was not going to bow in front of the hacker and pay the ransom. ALSO READ | Already expensive Ferrari supercars to get even more costly. Supply chain and inflation to be blamed "As a policy, Ferrari will not be held to ransom as paying such demands funds criminal activity and enables threat actors to perpetuate their attacks." It added that the best course of action remains to inform the customers about the potential data exposure and the nature of the incident. The customer information exposed to the hacker includes names, addresses, email addresses and telephone numbers. Ferrari CEO Benedetto Vigna tried to calm down the situation by stating that no payment details, bank account numbers and/or sensitive payment information had been accessed by the alleged hacker. Ferrari added it had been working with third-party experts to secure its IT systems whilst informing about hiring a leading cybersecurity firm to investigate the matter. The concerned authorities have also been informed. Watch | World Business Watch: Ferrari says no evidence of system breach Ferrari's 7GB of internal documents hacked Notably, this is not the first instance when Ferrari has fallen prey to a ransomware attack, Last year in October, internal documents belonging to the brand had been posted online. ALSO READ | Ferrari falls victim to ransomware attack; 7GB of its internal documents made public Ransomware gang, RansomEXX, on its Tor leak site claimed that it has breached Ferrari stealing 6.99 GB of data, which not only included internal documents but also datasheets and repair manuals amongst other items. (With inputs from agencies) WATCH WION LIVE HERE:

Ferrari taken for a spin: Hackers demand ransom after harvesting customer data

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<p>Chinese President Xi Jinping met his Russian counterpart Vladimir Putin on Monday in Moscow and said he was convinced that the Russian people will be voting en masse for the Kremlin chief in next year's presidential election.&nbsp;</p>

<p>"I know Russia will hold a presidential election," said Xi in Mandarin. "Under your strong leadership, Russia has made great strides in its prosperous development. I am confident that the Russian people will continue to give you their firm support."</p>

<p>After Xi's statement was translated, Putin looked the Chinese leader in the eye and gave a brief yet genuine smile. While Xi called Putin a 'dear friend', the latter jokingly said he was 'envious' of the progress made by Beijing in recent times.&nbsp;</p>

<p>"In recent years, China has made a tremendous leap forward in its development," Putin said. "It arouses genuine interest all over the world, and even we envy you a little."</p>

<p><a href="https://www.wionews.com/world/china-calls-icc-to-avoid-double-standards-after-putins-arrest-warrant-573942" target="_blank"><strong>Read more: China calls ICC to avoid 'double standards' after Putin's arrest warrant</strong></a></p>

<p>Meanwhile, some experts suggested that Xi's endorsement meant that Putin was running for the presidential post in 2024.&nbsp;</p>

<p>However, Dmitry Peskov, Kremlin spokesman came out with a statement and said Xi did not specifically indicate that Putin would participate in next year's election.&nbsp;</p>

<p>Notably, Putin has been the longest-serving leader of Russia since Josef Stalin. He ascended to power after Boris Yeltsin resigned in 1999.&nbsp;</p>

<p><strong>ALSO WATCH |&nbsp;Xi Jinping Russia Visit: Official talks between Putin and Jinping to be held on March 21</strong></p>

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<p>Monday's meeting between the two powerful leaders was the first since September last year when they met on the sidelines of the SCO summit in Uzbekistan.&nbsp;</p>

<p>Since the Russia-Ukraine war broke out, China has established a "no-limits" friendship with Russia where it has refused to denounce Moscow's aggressiveness, all the while presenting itself as impartial. Beijing maintains that&nbsp;the sovereignty and territorial integrity of any nation should be respected.&nbsp;</p>

<p><em>(With inputs from agencies)</em></p>

<p><strong>WATCH WION LIVE HERE:&nbsp;</strong></p>

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Chinese President Xi Jinping met his Russian counterpart Vladimir Putin on Monday in Moscow and said he was convinced that the Russian people will be voting en masse for the Kremlin chief in next year's presidential election.

Chinese President Xi Jinping met his Russian counterpart Vladimir Putin on Monday in Moscow and said he was convinced that the Russian people will be voting en masse for the Kremlin chief in next year's presidential election. "I know Russia will hold a presidential election," said Xi in Mandarin. "Under your strong leadership, Russia has made great strides in its prosperous development. I am confident that the Russian people will continue to give you their firm support." After Xi's statement was translated, Putin looked the Chinese leader in the eye and gave a brief yet genuine smile. While Xi called Putin a 'dear friend', the latter jokingly said he was 'envious' of the progress made by Beijing in recent times. "In recent years, China has made a tremendous leap forward in its development," Putin said. "It arouses genuine interest all over the world, and even we envy you a little." Read more: China calls ICC to avoid 'double standards' after Putin's arrest warrant Meanwhile, some experts suggested that Xi's endorsement meant that Putin was running for the presidential post in 2024. However, Dmitry Peskov, Kremlin spokesman came out with a statement and said Xi did not specifically indicate that Putin would participate in next year's election. Notably, Putin has been the longest-serving leader of Russia since Josef Stalin. He ascended to power after Boris Yeltsin resigned in 1999. ALSO WATCH | Xi Jinping Russia Visit: Official talks between Putin and Jinping to be held on March 21 Monday's meeting between the two powerful leaders was the first since September last year when they met on the sidelines of the SCO summit in Uzbekistan. Since the Russia-Ukraine war broke out, China has established a "no-limits" friendship with Russia where it has refused to denounce Moscow's aggressiveness, all the while presenting itself as impartial. Beijing maintains that the sovereignty and territorial integrity of any nation should be respected. (With inputs from agencies) WATCH WION LIVE HERE:

'Russian people will...': Xi Jinping predicts about 2024 Russian presidential election

<p>Saudi Arabia on Monday released an American citizen after he had been imprisoned for more than a year, serving a 19-year sentence, for his old tweets critical of the kingdom's Crown Prince Mohammed bin Salman (MBS). Saad Ibrahim Almadi, a 72-year-old retired project manager who resided in Florida was apprehended in November 2021 while visiting family in the kingdom.&nbsp;</p>

<p>Saudi officials reportedly dropped all charges against&nbsp;Almadi but it was unclear if he would be allowed to travel back to the US, due to a travel ban imposed on him following the prison sentence.&nbsp;</p>

<p>Almadi's son&nbsp;Ibrahim al Madi informed that his father had stayed home with family members based in Riyadh on Monday night.&nbsp;&nbsp;</p>

<p><a href="https://www.wionews.com/world/us-citizen-sentenced-to-16-years-in-prison-by-saudi-court-over-tweets-526605"><strong>ALSO READ |&nbsp;US citizen sentenced to 16 years in prison by Saudi court over critical tweets</strong></a></p>

<p>“I welcome the release of Saad Almadi, my father and best friend,” Ibrahim said. “As I always say, we are the strongest country in the world. We can protect our interests and citizens.”</p>

<p>“Our fight is not over until Saad is back…He needs medical attention in the states.”</p>

<p>Almadi was arrested and later convicted regarding 14 of his tweets, over the last eight years where he remained critical of Saudi Arabia and its policies. In one of the tweets,&nbsp;Almadi approved of Washington renaming a street after 'murdered' Washington Post journalist&nbsp;Jamal Khashoggi.&nbsp;</p>

<p>In another tweet,&nbsp;he encouraged fellow Saudis to accept Lebanese citizenship. Some other statements of&nbsp;criticised the Saudi government’s policies and the corruption in the Saudi system.</p>

<p>After Almadi visited the kingdom, the authorities quickly arrested and charged him with harbouring a terrorist ideology, supporting and funding terrorism and&nbsp;attempting to destabilise the kingdom.&nbsp;</p>

<p><a href="https://www.wionews.com/videos/saudi-arabia-launches-new-airline-to-create-over-200000-jobs-571372"><strong>WATCH |&nbsp;Saudi Arabia launches new airline, to create over 200000 jobs</strong></a></p>

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<p>In October 2022, the Saudi court sentenced him to 16 years in prison on top of a 16-year travel ban. Puzzlingly enough, three additional years were added to his sentence last month which makes his sudden release a mystery.&nbsp;</p>

<p>Some experts have suggested that the recent upswing in US-Saudi relations may have been the reason for Almadi's premature release. The US senate last week confirmed&nbsp;Michael Ratney as the envoy to Riyadh, two years after the post was left vacant.&nbsp;</p>

<p>Additionally, US plane maker Boeing last Tuesday signed a deal to sell 121 jets to kickstart Saudi airline Riyadh Air and national carrier Saudia Airlines.</p>

<p><em>(With inputs from agencies)</em></p>

<p><strong>WATCH WION LIVE HERE:&nbsp;</strong></p>

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Saudi Arabia on Monday released an American citizen after he had been imprisoned for more than a year, serving a 19-year sentence, for his old tweets critical of the kingdom's Crown Prince Mohammed bin Salman (MBS).

Saudi Arabia on Monday released an American citizen after he had been imprisoned for more than a year, serving a 19-year sentence, for his old tweets critical of the kingdom's Crown Prince Mohammed bin Salman (MBS). Saad Ibrahim Almadi, a 72-year-old retired project manager who resided in Florida was apprehended in November 2021 while visiting family in the kingdom. Saudi officials reportedly dropped all charges against Almadi but it was unclear if he would be allowed to travel back to the US, due to a travel ban imposed on him following the prison sentence. Almadi's son Ibrahim al Madi informed that his father had stayed home with family members based in Riyadh on Monday night. ALSO READ | US citizen sentenced to 16 years in prison by Saudi court over critical tweets “I welcome the release of Saad Almadi, my father and best friend,” Ibrahim said. “As I always say, we are the strongest country in the world. We can protect our interests and citizens.” “Our fight is not over until Saad is back…He needs medical attention in the states.” Almadi was arrested and later convicted regarding 14 of his tweets, over the last eight years where he remained critical of Saudi Arabia and its policies. In one of the tweets, Almadi approved of Washington renaming a street after 'murdered' Washington Post journalist Jamal Khashoggi. In another tweet, he encouraged fellow Saudis to accept Lebanese citizenship. Some other statements of criticised the Saudi government’s policies and the corruption in the Saudi system. After Almadi visited the kingdom, the authorities quickly arrested and charged him with harbouring a terrorist ideology, supporting and funding terrorism and attempting to destabilise the kingdom. WATCH | Saudi Arabia launches new airline, to create over 200000 jobs × In October 2022, the Saudi court sentenced him to 16 years in prison on top of a 16-year travel ban. Puzzlingly enough, three additional years were added to his sentence last month which makes his sudden release a mystery. Some experts have suggested that the recent upswing in US-Saudi relations may have been the reason for Almadi's premature release. The US senate last week confirmed Michael Ratney as the envoy to Riyadh, two years after the post was left vacant. Additionally, US plane maker Boeing last Tuesday signed a deal to sell 121 jets to kickstart Saudi airline Riyadh Air and national carrier Saudia Airlines. (With inputs from agencies) WATCH WION LIVE HERE:

Saudi Arabia releases American citizen sentenced to 19 years in prison for tweets critical of kingdom

<p>Tuesday could be a moving day in the politics of the USA. Murmurs are increasingly growing that former president Donald Trump may be arrested for&nbsp;alleged hush money paid to adult film star Stormi Daniels. In other news,&nbsp;Chinese President Xi Jinping is convinced that his Russian counterpart will emerge victorious in the 2024 presidential election.&nbsp;</p>

<p><strong>Click on headlines to read more:&nbsp;</strong></p>

<p><a href="https://www.wionews.com/world/donald-trump-to-be-arrested-today-new-york-braces-for-high-octane-drama-574087"><strong>Donald Trump to be arrested today? New York braces for high-octane drama</strong></a></p>

<p>New York is gearing up for the unprecedented likely arrest of former US president Donald Trump over alleged hush money paid to an adult film star.</p>

<p><img src="https://cdn.wionews.com/sites/default/files/styles/story_page/public/2023/03/21/339998-trump.jpg?imwidth=1920" /></p>

<p><a href="https://www.wionews.com/world/russian-people-will-xi-jinping-predicts-about-2024-russian-presidential-election-574108"><strong>'Russian people will...': Xi Jinping predicts about 2024 Russian presidential election</strong></a></p>

<p>Chinese President Xi Jinping met his Russian counterpart Vladimir Putin on Monday in Moscow and said he was convinced that the Russian people will be voting en masse for the Kremlin chief in next year's presidential election.&nbsp;</p>

<p><img src="https://cdn.wionews.com/sites/default/files/styles/story_page/public/2023/03/20/339940-vladimir-putin-and-xi-jinping-4.png?imwidth=1920" /></p>

<p><a href="https://www.wionews.com/world/us-president-joe-biden-signs-law-declassifying-us-intelligence-on-covid-virus-origin-574071"><strong>President Joe Biden signs law declassifying US intelligence on Covid virus origin</strong></a></p>

<p>United States President Joe Biden on Monday signed into law a bill that requires the release of intelligence on the potential links between the COVID-19 pandemic and a laboratory in Wuhan, China.&nbsp;</p>

<p><img src="https://cdn.wionews.com/sites/default/files/styles/story_page/public/2023/03/21/339980-new-wion-49.png?imwidth=1920" /></p>

<p><a href="https://www.wionews.com/world/us-russia-china-argue-at-unsc-washington-accuses-moscow-beijing-of-encouraging-nkorea-missile-launches-574065"><strong>US, Russia, China argue at UNSC; Washington accuses Moscow, Beijing of 'encouraging' N.Korea missile launches</strong></a></p>

<p>United Nations Security Council meeting on Monday saw the United States, China and Russia argue over who is to blame for spurring North Korea's dozens of ballistic missile launches.</p>

<p><img src="https://cdn.wionews.com/sites/default/files/styles/story_page/public/2023/03/21/339978-new-wion-46.png?imwidth=1920" /></p>

<p><a href="https://www.wionews.com/videos/france-protest-police-fire-tear-gas-on-protestors-574080"><strong>WATCH |&nbsp;France protest: Police fire tear gas on protestors</strong></a></p>

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Tuesday could be a moving day in the politics of the USA. Murmurs are increasingly growing that former president Donald Trump may be arrested for alleged hush money paid to adult film star Stormi Daniels.

Tuesday could be a moving day in the politics of the USA. Murmurs are increasingly growing that former president Donald Trump may be arrested for alleged hush money paid to adult film star Stormi Daniels. In other news, Chinese President Xi Jinping is convinced that his Russian counterpart will emerge victorious in the 2024 presidential election. Click on headlines to read more: Donald Trump to be arrested today? New York braces for high-octane drama New York is gearing up for the unprecedented likely arrest of former US president Donald Trump over alleged hush money paid to an adult film star. 'Russian people will...': Xi Jinping predicts about 2024 Russian presidential election Chinese President Xi Jinping met his Russian counterpart Vladimir Putin on Monday in Moscow and said he was convinced that the Russian people will be voting en masse for the Kremlin chief in next year's presidential election. President Joe Biden signs law declassifying US intelligence on Covid virus origin United States President Joe Biden on Monday signed into law a bill that requires the release of intelligence on the potential links between the COVID-19 pandemic and a laboratory in Wuhan, China. US, Russia, China argue at UNSC; Washington accuses Moscow, Beijing of 'encouraging' N.Korea missile launches United Nations Security Council meeting on Monday saw the United States, China and Russia argue over who is to blame for spurring North Korea's dozens of ballistic missile launches. WATCH | France protest: Police fire tear gas on protestors

Morning news brief: Trump to be arrested today? Xi Jinping predicts 2024 Russian election

<p>Hours after a US media report claimed that Washington provided crucial military intelligence to New Delhi last year to thwart the Chinese threat,&nbsp;the White House on Monday refused to confirm the news. Senior White House official John Kirby refuted the claims when answering the questions at a daily news conference.&nbsp;</p>

<p>"No, I can't confirm that," said Kirby, the National Security Council coordinator for Strategic Communications at the White House.&nbsp;</p>

<p>The source-based story filed by the US News and World Report claimed that the US government, for the first time, provided real-time insights to their Indian counterparts. The details helped India neutralise the incursion attempts by the PLA troops in Northeastern India's Arunachal Pradesh's Tawang Sector.&nbsp;</p>

<p><a href="https://www.wionews.com/world/with-eye-on-india-china-elevates-foreign-minister-qin-gang-to-state-councillor-rank-571163"><strong>ALSO READ |&nbsp;In key move for India, China elevates Foreign Minister Qin Gang to State Councillor rank</strong></a></p>

<p>"India was able to repel a Chinese military incursion in contested border territory in the high Himalayas late last year due to unprecedented intelligence-sharing with the US military," read the report.&nbsp;</p>

<p>"US News has learned, an act that caught China’s People’s Liberation Army forces off-guard, enraged Beijing and appears to have forced the Chinese Communist Party to reconsider its approach to land grabs along its borders. The US government for the first time provided real-time details to its Indian counterparts of the Chinese positions and force strength in advance of a PLA incursion,"&nbsp;it added.&nbsp;</p>

<p>The publication claimed that the US provided satellite imagery to India at a speed hitherto unseen. It added that US intelligence was partly the reason why the Chinese troops had to retreat after a subsequent clash.&nbsp;</p>

<p>The sharing of intelligence between the two nations marked a new era of cooperation as they looked to push back on Chinese expansionism, the source related to US News added.&nbsp;</p>

<p><a href="https://www.wionews.com/videos/india-china-border-standoff-what-comes-next-troops-pulled-back-from-a-major-flashpoint-514322"><strong>WATCH |&nbsp;India-China border standoff: What comes next | Troops pulled back from a major flashpoint</strong></a></p>

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<p>Since 2020, the relationship between India and China has remained frosty. Though China has attempted to intrude into Indian territories for years, it was the Galwan valley standoff in 2020 that really deteriorated the relations.&nbsp;</p>

<p>Both countries held over 17 rounds of military talks but were unable to reach terms of disengagement. In 2021, India's Ministry f External Affairs (MEA), in its annual report stated that China's attempt to change the status quo had impacted the bilateral relationship.&nbsp;</p>

<p><em>(With inputs from agencies)</em></p>

<p><strong>WATCH WION LIVE HERE:&nbsp;</strong></p>

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Hours after a US media report claimed that Washington provided crucial military intelligence to New Delhi last year to thwart the Chinese threat, the White House on Monday refused to confirm the news.

Hours after a US media report claimed that Washington provided crucial military intelligence to New Delhi last year to thwart the Chinese threat, the White House on Monday refused to confirm the news. Senior White House official John Kirby refuted the claims when answering the questions at a daily news conference. "No, I can't confirm that," said Kirby, the National Security Council coordinator for Strategic Communications at the White House. The source-based story filed by the US News and World Report claimed that the US government, for the first time, provided real-time insights to their Indian counterparts. The details helped India neutralise the incursion attempts by the PLA troops in Northeastern India's Arunachal Pradesh's Tawang Sector. ALSO READ | In key move for India, China elevates Foreign Minister Qin Gang to State Councillor rank "India was able to repel a Chinese military incursion in contested border territory in the high Himalayas late last year due to unprecedented intelligence-sharing with the US military," read the report. "US News has learned, an act that caught China’s People’s Liberation Army forces off-guard, enraged Beijing and appears to have forced the Chinese Communist Party to reconsider its approach to land grabs along its borders. The US government for the first time provided real-time details to its Indian counterparts of the Chinese positions and force strength in advance of a PLA incursion," it added. The publication claimed that the US provided satellite imagery to India at a speed hitherto unseen. It added that US intelligence was partly the reason why the Chinese troops had to retreat after a subsequent clash. The sharing of intelligence between the two nations marked a new era of cooperation as they looked to push back on Chinese expansionism, the source related to US News added. WATCH | India-China border standoff: What comes next | Troops pulled back from a major flashpoint × Since 2020, the relationship between India and China has remained frosty. Though China has attempted to intrude into Indian territories for years, it was the Galwan valley standoff in 2020 that really deteriorated the relations. Both countries held over 17 rounds of military talks but were unable to reach terms of disengagement. In 2021, India's Ministry f External Affairs (MEA), in its annual report stated that China's attempt to change the status quo had impacted the bilateral relationship. (With inputs from agencies) WATCH WION LIVE HERE:

Did US share military intelligence with India to thwart Chinese threat? White House responds

<p>Days before a hastily convened press conference late on Sunday that would make the world's front pages, Switzerland's political elite were secretly preparing a move that would jolt the globe.</p>

<p>While the nation's central bank and financial regulator publicly declared that Credit Suisse was sound, behind closed doors the race was on to rescue the nation's second-biggest bank.</p>

<p>The chain of events led to the erasure of one of Switzerland's flagships, a merger backed by $280 billion (260 billion Swiss francs) of state funds and a move that would upend global finance: favouring the bank's shareholders to the detriment of bond investors.</p>

<p>The events that unfolded in the landlocked nation - long a bastion of political neutrality that has secured its standing as a safe-haven favourite for wealthy elites - go against one of the key lessons of the 2008 financial crisis. The rescue concentrates even greater risks into one banking behemoth, UBS Group AG.</p>

<p>What is more, making bondholders cushion the blow to stock investors from the UBS-Credit Suisse tie-up rattled lenders, pushing up their borrowing costs in a threat to world economic growth.</p>

<p><a href="https://www.wionews.com/business-economy/over-17-billion-worth-of-bonds-become-zero-after-credit-suisse-takeover-by-ubs-574224"><strong>Read more:&nbsp;Over $17 billion worth of bonds become zero after Credit Suisse takeover by UBS</strong></a></p>

<p>The Swiss National Bank declined to comment while the finance ministry did not respond to a request for comment.</p>

<p>Battered by years of scandals and losses, Credit Suisse for months had been battling a crisis of confidence of its own making. In a matter of days, its demise was sealed.</p>

<p>Soon after news broke on March 12 that the United States would step in to guarantee all the deposits of two mid-sized lenders struggling to keep up with demands for cash, the spotlight was on Credit Suisse and how it would maintain depositor confidence.</p>

<p>Customers had already pulled $110 billion from the Zurich-based bank in the last three months of 2022, outflows that it was fighting to reverse.</p>

<p>A rainmaker who brokered a number of European bank rescues during the financial crisis, speaking on condition of anonymity, told Reuters that after seeing the US banking collapses there was little doubt UBS would be called upon to shore up Credit Suisse.</p>

<p>The banker on March 13 rang up UBS warning the world's biggest wealth manager that it should prepare to receive a call from Swiss authorities.</p>

<p>By Wednesday, two days later, Credit Suisse was swept up in a full-blown crisis. Comments by the chair of Saudi National Bank, Ammar Al Khudairy, who said that he could not invest further in the Swiss bank sent Credit Suisse shares into a tailspin.</p>

<p>It mattered little that Credit Suisse's biggest investor also reiterated confidence in the lender. "They're a globally systemically important bank so...monitored on a daily basis," he told Reuters. "There's no surprises like you would have in a middle-sized bank in the US. It's a completely different ecosystem."</p>

<p>Significant deposit outflows followed, the source who would go on to advise UBS on the merger told Reuters, declining to put a number on them.</p>

<p>In banking center Zurich and Bern, the Alpine state's capital, the pressure was building. Yet as the discussions to salvage Credit Suisse got underway, Swiss regulators FINMA and the Swiss National Bank said that "the problems of certain banks in the USA do not pose a direct risk of contagion for the Swiss financial markets", conceding, however, that they would fund the bank with unlimited access to funding.</p>

<p>Credit Suisse too was conveying stability. The bank told Reuters on Thursday that its average liquidity coverage ratio, a key measure of how much cash-like assets the bank has, did not change between March 8 and March 14, despite the global banking crisis.</p>

<p>Swiss Finance Minister Karin Keller-Sutter, a former translator and teacher just months on the job, told the Sunday media conference that additional support for Credit Suisse had been agreed but held secret for fear of panicking people with a succession of emergency announcements.</p>

<p>She said was in close contact with U.S. Treasury Secretary Janet Yellen and British finance minister Jeremy Hunt. Both countries have large Credit Suisse subsidiaries employing thousands.</p>

<p>There was far less communication with the European Central Bank in Frankfurt, said one person familiar with the matter. Credit Suisse's arms in Luxembourg, Spain and Germany were far smaller.</p>

<p>European regulators were, in particular, worried that the Swiss could impose losses on bondholders - a radical step that they did take, as the costs of a rescue spiralled for taxpayers.</p>

<p>"They did this on their own," said the person, asking not to be named, describing the outcome as a "big surprise".</p>

<p>A spokesperson for FINMA said that although it laid emphasis on Britain and the US because of the scale of Credit Suisse's business in those countries, it had also informed European authorities.</p>

<p>Not everyone, however, was kept in the dark.</p>

<p>Saudi investors, with roughly a 10 per cent&nbsp;stake in the bank, put pressure on the Swiss, warning that they could take legal action if they did not recover some of their ill-fated investment, said another person with knowledge of the matter.</p>

<p>Saudi National Bank did not immediately respond to a request for a comment</p>

<p>"The money had to come from somewhere," said one of the officials involved in the negotiations.</p>

<p>The Credit Suisse board, interested in preserving some unity in an increasingly fractious setting, stood behind them, and argued for a payout to shareholders, said the person.</p>

<p><a href="https://www.wionews.com/videos/why-you-should-be-worried-if-credit-suisse-collapses-574164" target="_blank"><strong>WATCH | Why you should be worried if Credit Suisse collapses</strong></a></p>

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<p><a href="https://www.wionews.com/business-economy/over-17-billion-worth-of-bonds-become-zero-after-credit-suisse-takeover-by-ubs-574224#" id="jqclosemark">×</a></p>

<p>Regulators too wanted to avoid a wipeout for shareholders that would have resulted in the winding up of the bank, potentially a bigger headache for the nation and a loss of face just hours after standing by Credit Suisse.</p>

<p>In the end, the Swiss agreed, choosing to wipe out 16 billion of francs of bonds, compensating shareholders with 3 billion francs and turning a key principle of bank funding on its head - namely, that shareholders rather than bondholders take the first hit from a bank failure.</p>

<p>It marks an ignominious end for an institution founded by Alfred Escher, a Swiss magnate affectionately dubbed King Alfred I, who helped build the country's railways. Credit Suisse banks many Swiss companies and citizens - including finance minister Keller-Sutter.</p>

<p>On Sunday, as a panel of Swiss officials and executives announced the deal, they were unrepentant.</p>

<p>"This is no bailout," Keller-Sutter told journalists. Thomas Jordan, the central bank chief, defended the package, as necessary to counter any wider shock.</p>

<p>"The taxpayer in this scenario has less risk," said Keller-Sutter. "The bankruptcy would have been the highest risk because the cost to the Swiss economy would have been huge."</p>

<p>Still, markets are reeling from the extraordinary turn of events.</p>

<p>"When you are a bank for billionaires, deposits can fly away very quickly," said one of the people involved. "You can die in three days."</p>

<p><strong>WATCH WION LIVE HERE:&nbsp;</strong></p>

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Days before a hastily convened press conference late on Sunday that would make the world's front pages, Switzerland's political elite were secretly preparing a move that would jolt the globe.

Days before a hastily convened press conference late on Sunday that would make the world's front pages, Switzerland's political elite were secretly preparing a move that would jolt the globe. While the nation's central bank and financial regulator publicly declared that Credit Suisse was sound, behind closed doors the race was on to rescue the nation's second-biggest bank. The chain of events led to the erasure of one of Switzerland's flagships, a merger backed by $280 billion (260 billion Swiss francs) of state funds and a move that would upend global finance: favouring the bank's shareholders to the detriment of bond investors. The events that unfolded in the landlocked nation - long a bastion of political neutrality that has secured its standing as a safe-haven favourite for wealthy elites - go against one of the key lessons of the 2008 financial crisis. The rescue concentrates even greater risks into one banking behemoth, UBS Group AG. What is more, making bondholders cushion the blow to stock investors from the UBS-Credit Suisse tie-up rattled lenders, pushing up their borrowing costs in a threat to world economic growth. Read more: Over $17 billion worth of bonds become zero after Credit Suisse takeover by UBS The Swiss National Bank declined to comment while the finance ministry did not respond to a request for comment. Battered by years of scandals and losses, Credit Suisse for months had been battling a crisis of confidence of its own making. In a matter of days, its demise was sealed. Soon after news broke on March 12 that the United States would step in to guarantee all the deposits of two mid-sized lenders struggling to keep up with demands for cash, the spotlight was on Credit Suisse and how it would maintain depositor confidence. Customers had already pulled $110 billion from the Zurich-based bank in the last three months of 2022, outflows that it was fighting to reverse. A rainmaker who brokered a number of European bank rescues during the financial crisis, speaking on condition of anonymity, told Reuters that after seeing the US banking collapses there was little doubt UBS would be called upon to shore up Credit Suisse. The banker on March 13 rang up UBS warning the world's biggest wealth manager that it should prepare to receive a call from Swiss authorities. By Wednesday, two days later, Credit Suisse was swept up in a full-blown crisis. Comments by the chair of Saudi National Bank, Ammar Al Khudairy, who said that he could not invest further in the Swiss bank sent Credit Suisse shares into a tailspin. It mattered little that Credit Suisse's biggest investor also reiterated confidence in the lender. "They're a globally systemically important bank so...monitored on a daily basis," he told Reuters. "There's no surprises like you would have in a middle-sized bank in the US. It's a completely different ecosystem." Significant deposit outflows followed, the source who would go on to advise UBS on the merger told Reuters, declining to put a number on them. In banking center Zurich and Bern, the Alpine state's capital, the pressure was building. Yet as the discussions to salvage Credit Suisse got underway, Swiss regulators FINMA and the Swiss National Bank said that "the problems of certain banks in the USA do not pose a direct risk of contagion for the Swiss financial markets", conceding, however, that they would fund the bank with unlimited access to funding. Credit Suisse too was conveying stability. The bank told Reuters on Thursday that its average liquidity coverage ratio, a key measure of how much cash-like assets the bank has, did not change between March 8 and March 14, despite the global banking crisis. Swiss Finance Minister Karin Keller-Sutter, a former translator and teacher just months on the job, told the Sunday media conference that additional support for Credit Suisse had been agreed but held secret for fear of panicking people with a succession of emergency announcements. She said was in close contact with U.S. Treasury Secretary Janet Yellen and British finance minister Jeremy Hunt. Both countries have large Credit Suisse subsidiaries employing thousands. There was far less communication with the European Central Bank in Frankfurt, said one person familiar with the matter. Credit Suisse's arms in Luxembourg, Spain and Germany were far smaller. European regulators were, in particular, worried that the Swiss could impose losses on bondholders - a radical step that they did take, as the costs of a rescue spiralled for taxpayers. "They did this on their own," said the person, asking not to be named, describing the outcome as a "big surprise". A spokesperson for FINMA said that although it laid emphasis on Britain and the US because of the scale of Credit Suisse's business in those countries, it had also informed European authorities. Not everyone, however, was kept in the dark. Saudi investors, with roughly a 10 per cent stake in the bank, put pressure on the Swiss, warning that they could take legal action if they did not recover some of their ill-fated investment, said another person with knowledge of the matter. Saudi National Bank did not immediately respond to a request for a comment "The money had to come from somewhere," said one of the officials involved in the negotiations. The Credit Suisse board, interested in preserving some unity in an increasingly fractious setting, stood behind them, and argued for a payout to shareholders, said the person. WATCH | Why you should be worried if Credit Suisse collapses × Regulators too wanted to avoid a wipeout for shareholders that would have resulted in the winding up of the bank, potentially a bigger headache for the nation and a loss of face just hours after standing by Credit Suisse. In the end, the Swiss agreed, choosing to wipe out 16 billion of francs of bonds, compensating shareholders with 3 billion francs and turning a key principle of bank funding on its head - namely, that shareholders rather than bondholders take the first hit from a bank failure. It marks an ignominious end for an institution founded by Alfred Escher, a Swiss magnate affectionately dubbed King Alfred I, who helped build the country's railways. Credit Suisse banks many Swiss companies and citizens - including finance minister Keller-Sutter. On Sunday, as a panel of Swiss officials and executives announced the deal, they were unrepentant. "This is no bailout," Keller-Sutter told journalists. Thomas Jordan, the central bank chief, defended the package, as necessary to counter any wider shock. "The taxpayer in this scenario has less risk," said Keller-Sutter. "The bankruptcy would have been the highest risk because the cost to the Swiss economy would have been huge." Still, markets are reeling from the extraordinary turn of events. "When you are a bank for billionaires, deposits can fly away very quickly," said one of the people involved. "You can die in three days." WATCH WION LIVE HERE:

What went down before Credit Suisse-UBS Group deal was announced?

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<p>In what comes as a first, the southern US state of Arkansas will be building a monument to mark the abortions performed in the state before Roe vs Wade was overturned last year. Republican Governor Sarah Huckabee Sanders approved Senate Bill 307, allowing for the construction of a “monument to the unborn” near the state’s Capitol grounds.</p>

<p>The said structure will be built using donations received by the "Monument to Unborn Children Display Fund". Capitol Arts and Grounds Commission, in collaboration with several anti-abortion groups, will choose the artists and oversee the design of the monument.&nbsp;</p>

<p>The bill sponsored by GOP Senator Kim Hammer claimed that the state of Arkansas failed to protect the lives of unborn children from 1973 until last year when the US Supreme Court took the historical reversal.&nbsp;</p>

<p>“As a memorial to the lives lost from 1973 to 2022 due to the decisions of the United States Supreme Court, and as a constant reminder of our duty to protect the life of every innocent human person, no matter how young or old, or how helpless and vulnerable that person may be, it is the intent of the General Assembly of the State of Arkansas to enact the Monument to Unborn Children Display Act...and the Monument to Unborn Children Display Fund,” read the transcript of the bill, now signed into law.&nbsp;</p>

<p><a href="https://www.wionews.com/world/in-a-first-five-pregnant-women-sue-the-state-of-texas-over-abortion-ban-569481" target="_blank"><strong>Read more: In a first, five pregnant women sue the state of Texas over abortion ban</strong></a></p>

<p>The conservative-dominated US Supreme Court in June last year declared that individual states can now legalise or restrict the procedure on their own, overturning the historic "Roe v. Wade" ruling from 1973 that established a woman's right to an abortion.&nbsp;</p>

<p>Since then, Arkansas, a historically Red state has banned abortions, unless the procedure is extremely necessary to save the pregnant women's life. It does not provide exceptions for those impregnated in an act of rape or incest.&nbsp;</p>

<p><a href="https://www.wionews.com/videos/gravitas-us-supreme-court-strikes-down-abortion-rights-491507"><strong>WATCH |&nbsp;Gravitas: US Supreme Court strikes down abortion rights</strong></a></p>

<p><iframe allowfullscreen="" autoplay="1" frameborder="0" height="350" src="https://www.wionews.com/videos/gravitas-us-supreme-court-strikes-down-abortion-rights-491507/embed" width="560"></iframe></p>

<p>Though most GOP leaders have shown support for the monument, some anti-abortion Republicans like Steve Unger argued that building the monument will only polarise both sides.&nbsp;</p>

<p>“Public memorials to our nation’s wars where we face an external threat are right and proper. A memorial to an ongoing culture war where we seem to be shooting at each other is not," he was quoted as saying by ABC.&nbsp;</p>

<p><em>(With inputs from agencies)</em></p>

<p><strong>WATCH WION LIVE HERE:&nbsp;</strong></p>

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In what comes as a first, the southern US state of Arkansas will be building a monument to mark the abortions performed in the state before Roe vs Wade was overturned last year.

In what comes as a first, the southern US state of Arkansas will be building a monument to mark the abortions performed in the state before Roe vs Wade was overturned last year. Republican Governor Sarah Huckabee Sanders approved Senate Bill 307, allowing for the construction of a “monument to the unborn” near the state’s Capitol grounds. The said structure will be built using donations received by the "Monument to Unborn Children Display Fund". Capitol Arts and Grounds Commission, in collaboration with several anti-abortion groups, will choose the artists and oversee the design of the monument. The bill sponsored by GOP Senator Kim Hammer claimed that the state of Arkansas failed to protect the lives of unborn children from 1973 until last year when the US Supreme Court took the historical reversal. “As a memorial to the lives lost from 1973 to 2022 due to the decisions of the United States Supreme Court, and as a constant reminder of our duty to protect the life of every innocent human person, no matter how young or old, or how helpless and vulnerable that person may be, it is the intent of the General Assembly of the State of Arkansas to enact the Monument to Unborn Children Display Act...and the Monument to Unborn Children Display Fund,” read the transcript of the bill, now signed into law. Read more: In a first, five pregnant women sue the state of Texas over abortion ban The conservative-dominated US Supreme Court in June last year declared that individual states can now legalise or restrict the procedure on their own, overturning the historic "Roe v. Wade" ruling from 1973 that established a woman's right to an abortion. Since then, Arkansas, a historically Red state has banned abortions, unless the procedure is extremely necessary to save the pregnant women's life. It does not provide exceptions for those impregnated in an act of rape or incest. WATCH | Gravitas: US Supreme Court strikes down abortion rights Though most GOP leaders have shown support for the monument, some anti-abortion Republicans like Steve Unger argued that building the monument will only polarise both sides. “Public memorials to our nation’s wars where we face an external threat are right and proper. A memorial to an ongoing culture war where we seem to be shooting at each other is not," he was quoted as saying by ABC. (With inputs from agencies) WATCH WION LIVE HERE:

This US state has approved construction of monument dedicated to aborted fetuses

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<p>Over $17.3 billion worth of bonds issued by the struggling Credit Suisse bank has become worthless overnight after rival UBS Group AG pitched in with the takeover bid. Under the takeover deal, UBS will be writing down the bank's additional tier 1 (AT1) bonds to increase core capital.&nbsp;</p>

<p>Swiss regulator FINMA informed that these bonds, often regarded as risky investments will be written to zero. The move, however, has angered the bondholders who have lost all of their investment while the shareholders still receive payouts as part of the takeover.&nbsp;</p>

<p>“The extraordinary government support will trigger a complete write-down of the nominal value of all AT1 shares of Credit Suisse in the amount of around 16 billion [Swiss francs],” said FINMA.&nbsp;</p>

<p><a href="https://www.wionews.com/business-economy/ubs-shares-take-major-hit-after-buyout-of-credit-suisse-573897"><strong>ALSO READ |&nbsp;UBS shares take major hit after buyout of Credit Suisse</strong></a></p>

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<p>Experts have dubbed it as the largest loss inflicted on AT1 investors after the particular asset class was introduced post the 2008 global financial crisis.&nbsp;</p>

<p>The AT1 bonds were primarily created for the failing banks to absorb losses, thereby reducing the chances of a taxpayer-funded bailout. Because of the higher risks, the AT1 bonds provided a greater yield than most other bonds and they became a quick favourite of institutional investors.</p>

<p>Most AT1 bondholders across Europe are now seriously reconsidering their investments, having been rattled by the Credit Suisse saga. Many fear that their holdings will be obliterated if another bank collapses, which looks highly likely given the current market scenario.&nbsp;</p>

<p><a href="https://www.wionews.com/videos/why-you-should-be-worried-if-credit-suisse-collapses-574164" target="_blank"><strong>WATCH | Why you should be worried if Credit Suisse collapses</strong></a></p>

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<p>Notably, on Sunday, Swiss National Bank (SNB) announced that UBS Group had agreed to buy its troubled rival Credit Suisse for $3.25 billion. The takeover is aimed at preventing economic turmoil from spreading throughout the country and beyond.&nbsp;</p>

<p>Like UBS, Credit Suisse was one of 30 worldwide systemically important banks. This means that the bank was deemed of such vital importance to the global banking system that it was called "too big to fail".&nbsp;</p>

<p><em>(With inputs from agencies)</em></p>

<p><strong>WATCH WION LIVE HERE:&nbsp;</strong></p>

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Over $17.3 billion worth of bonds issued by the struggling Credit Suisse bank has become worthless overnight after rival UBS Group AG pitched in with the takeover bid.

Over $17.3 billion worth of bonds issued by the struggling Credit Suisse bank has become worthless overnight after rival UBS Group AG pitched in with the takeover bid. Under the takeover deal, UBS will be writing down the bank's additional tier 1 (AT1) bonds to increase core capital. Swiss regulator FINMA informed that these bonds, often regarded as risky investments will be written to zero. The move, however, has angered the bondholders who have lost all of their investment while the shareholders still receive payouts as part of the takeover. “The extraordinary government support will trigger a complete write-down of the nominal value of all AT1 shares of Credit Suisse in the amount of around 16 billion [Swiss francs],” said FINMA. ALSO READ | UBS shares take major hit after buyout of Credit Suisse × Experts have dubbed it as the largest loss inflicted on AT1 investors after the particular asset class was introduced post the 2008 global financial crisis. The AT1 bonds were primarily created for the failing banks to absorb losses, thereby reducing the chances of a taxpayer-funded bailout. Because of the higher risks, the AT1 bonds provided a greater yield than most other bonds and they became a quick favourite of institutional investors. Most AT1 bondholders across Europe are now seriously reconsidering their investments, having been rattled by the Credit Suisse saga. Many fear that their holdings will be obliterated if another bank collapses, which looks highly likely given the current market scenario. WATCH | Why you should be worried if Credit Suisse collapses × Notably, on Sunday, Swiss National Bank (SNB) announced that UBS Group had agreed to buy its troubled rival Credit Suisse for $3.25 billion. The takeover is aimed at preventing economic turmoil from spreading throughout the country and beyond. Like UBS, Credit Suisse was one of 30 worldwide systemically important banks. This means that the bank was deemed of such vital importance to the global banking system that it was called "too big to fail". (With inputs from agencies) WATCH WION LIVE HERE:

Over $17 billion worth of bonds become zero after Credit Suisse takeover by UBS

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<p>Russian President Vladimir Putin's top ally and deputy chairman of the Security Council, Dmitry Medvedev on Monday issued a hypersonic missile attack threat to the International Criminal Court (ICC) after the global organisation, issued an arrest warrant against the Kremlin chief.</p>

<p>Mincing no words, Medvedev suggested that the ICC judges 'watch the skies closely,'&nbsp;referring to an impending missile coming their way.&nbsp;</p>

<p>"I'm afraid, gentlemen, everyone is answerable to God and missiles. It's quite possible to imagine how a hypersonic Oniks fired from a Russian warship in the North Sea strikes the court building in the Hague," Medvedev wrote on Telegram.&nbsp;</p>

<p>"It can't be shot down, I'm afraid. And the court is just a pathetic international organisation, not the people of a NATO country. So, they won't start a war. They'll be scared. And no one will be sorry."</p>

<p><a href="https://www.wionews.com/world/icc-issues-arrest-warrant-against-putin-over-ukraine-573088" target="_blank"><strong>ALSO READ | International Criminal Court issues arrest warrant against Putin over war crimes in Ukraine</strong></a></p>

<p>Taking a swipe at international organisations, the Putin loyalist added,&nbsp;"All the foolish decisions of the UN and other organisations will be bursting at the seams. A dark decline of the entire system of international relations is coming. Trust has been exhausted."</p>

<p>This is not the first instance when&nbsp;Medvedev has&nbsp;made rather hyperbolic statements. Putin's top ally previously said that a civil war will break out in the US in 2023 and that if Russia lost in the ongoing war, it could provoke the beginning of a 'nuclear war'.&nbsp;</p>

<h2><strong>What did ICC do?</strong></h2>

<p>Last week, the Hague-based ICC issued an arrest warrant against Putin for war crimes because of his alleged involvement in the abduction and "unlawful deportation" of Ukrainian children.</p>

<p>While ICC attempted to start a legal tussle, Moscow expectedly released a statement saying it will not be entertaining arrest warrants against any of its officials. The country withdrew its membership from ICC in 2016.&nbsp;</p>

<p>"The decisions of the International Criminal Court have no meaning for our country, including from a legal point of view," said Russian foreign ministry spokeswoman Maria Zakharova.&nbsp;</p>

<p>"Russia is not a party of the Rome Statute of the International Criminal Court and bears no obligations under it," she added.&nbsp;</p>

<p><a href="https://www.wionews.com/videos/can-putin-be-arrested-by-the-the-international-criminal-court-573455"><strong>WATCH |&nbsp;Can Putin be arrested by the international criminal court?</strong></a></p>

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<p>The decision to file the case comes in the backdrop of ICC Chief Prosecutor Karim Khan visiting Ukraine last month and batting for Ukraine.&nbsp;</p>

<p><em>(With inputs from agencies)</em></p>

<p><strong>WATCH WION LIVE HERE:&nbsp;</strong></p>

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Russian President Vladimir Putin's top ally and deputy chairman of the Security Council, Dmitry Medvedev on Monday issued a hypersonic missile attack threat to the International Criminal Court (ICC) after the global organisation, issued an arrest warrant against the Kremlin chief.

Russian President Vladimir Putin's top ally and deputy chairman of the Security Council, Dmitry Medvedev on Monday issued a hypersonic missile attack threat to the International Criminal Court (ICC) after the global organisation, issued an arrest warrant against the Kremlin chief. Mincing no words, Medvedev suggested that the ICC judges 'watch the skies closely,' referring to an impending missile coming their way. "I'm afraid, gentlemen, everyone is answerable to God and missiles. It's quite possible to imagine how a hypersonic Oniks fired from a Russian warship in the North Sea strikes the court building in the Hague," Medvedev wrote on Telegram. "It can't be shot down, I'm afraid. And the court is just a pathetic international organisation, not the people of a NATO country. So, they won't start a war. They'll be scared. And no one will be sorry." ALSO READ | International Criminal Court issues arrest warrant against Putin over war crimes in Ukraine Taking a swipe at international organisations, the Putin loyalist added, "All the foolish decisions of the UN and other organisations will be bursting at the seams. A dark decline of the entire system of international relations is coming. Trust has been exhausted." This is not the first instance when Medvedev has made rather hyperbolic statements. Putin's top ally previously said that a civil war will break out in the US in 2023 and that if Russia lost in the ongoing war, it could provoke the beginning of a 'nuclear war'. What did ICC do? Last week, the Hague-based ICC issued an arrest warrant against Putin for war crimes because of his alleged involvement in the abduction and "unlawful deportation" of Ukrainian children. While ICC attempted to start a legal tussle, Moscow expectedly released a statement saying it will not be entertaining arrest warrants against any of its officials. The country withdrew its membership from ICC in 2016. "The decisions of the International Criminal Court have no meaning for our country, including from a legal point of view," said Russian foreign ministry spokeswoman Maria Zakharova. "Russia is not a party of the Rome Statute of the International Criminal Court and bears no obligations under it," she added. WATCH | Can Putin be arrested by the international criminal court? × The decision to file the case comes in the backdrop of ICC Chief Prosecutor Karim Khan visiting Ukraine last month and batting for Ukraine. (With inputs from agencies) WATCH WION LIVE HERE:

Putin's top aide threatens 'hypersonic missile strike' on ICC after issuance of arrest warrant

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<p>The Russia-Ukraine war has been ongoing for over a year now. Kremlin, the Goliath in the fight, is seemingly running out of resources to keep up. Reports state that President Vladimir Putin's mercenary army Wagner Group is so hard-pressed for men that it is using Pornhub to recruit soldiers - urging them to stop pleasuring themselves and instead join the private militia.&nbsp;</p>

<p>A video clip of a commercial running on Pornhub has gone viral on social media platforms. The clip shows a blonde woman wearing red lipstick and twirling, what seems like a lollipop in her mouth. A seductive voice in the background can be heard saying, "we are the f**king coolest private army in the world".&nbsp;</p>

<p>“We are recruiting fighters from all regions of Russia. Don’t w**ck off, go work for PMC Wagner," it adds, before a phone number appears on the screen, believed to be associated with the Wagner Group.&nbsp;</p>

<p><em><strong>(NOTE: WION cannot independently verify the authenticity of the below media)</strong></em></p>

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<p dir="ltr" lang="uk">ЗМІ звернули увагу на те, що ПВК "Вагнер", власником якого є Євген Пригожин, почали рекламувати на популярному порносайті Pornhub (18+). <a href="https://t.co/pXfiXq2jrI">pic.twitter.com/pXfiXq2jrI</a></p>
— Українська правда ✌️ (@ukrpravda_news) <a href="https://twitter.com/ukrpravda_news/status/1636000681709432834?ref_src=twsrc%5Etfw">March 15, 2023</a></blockquote>
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<p>It is unclear if the ad is actually running on the platform or if it is another propaganda piece launched by the Ukrainian side.&nbsp;</p>

<p>The private mercenary army has been founded by Yevgeny Prigozhin, who many dub a close ally of Putin. However, the relationship between the two has been on shaky ground in recent times.&nbsp;</p>

<p>Prigozhin recently accused the Russian president of cutting him off completely, claiming that he was left alone in making war-related decisions about his army. His paramilitary army has suffered heavy losses when trying to capture the eastern city of Bakhmut in Ukraine.&nbsp;</p>

<p>“To get me to stop asking for ammunition, all the hotlines to offices, to departments etc have been cut off from me. But the real humdinger is that they’ve also blocked agencies from making decisions [related to Wagner]," said Prigozhin.&nbsp;</p>

<p><a href="https://www.wionews.com/world/russian-mercenary-group-wagners-chief-announces-political-ambitions-to-run-for-ukraines-president-in-2024-571052"><strong>Read more:&nbsp;Russian mercenary group Wagner’s chief reveals ‘political ambitions’, to run for Ukraine’s president in 2024</strong></a></p>

<p>Moreover, the Wagner chief has for some time been at odds with the Russian military chiefs, including Defence Minister Sergey Shoygu and head of the General Staff Valery Gerasimov.&nbsp;</p>

<p>He has questioned their competence and has voiced his suspicions of the ministry's "jealousy" for the success of his mercenary troops.</p>

<p>Though Wagner Group remains desperate for soldiers, Prigozhin is out making tall claims that he will be running for Ukraine's presidential post in 2024.&nbsp;</p>

<p><a href="https://www.wionews.com/videos/wagner-group-head-accuses-russian-command-of-treason-564716" target="_blank"><strong>WATCH | Wagner group head accuses Russian command of treason</strong></a></p>

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<p>"I'm making a political coming out. Looking at everything around me, I've got political ambitions. I decided to run for president in 2024. For President of Ukraine," he said.&nbsp;</p>

<p>"If I win the presidential elections of Ukraine, then everything will be fine, guys, the shells will not be needed."&nbsp;</p>

<p><em>(With inputs from agencies)</em></p>

<p><strong>WATCH WION LIVE HERE:&nbsp;</strong></p>

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The Russia-Ukraine war has been ongoing for over a year now. Kremlin, the Goliath in the fight, is seemingly running out of resources to keep up. Reports state that President Vladimir Putin's mercenary army Wagner Group is so hard-pressed for men that it is using Pornhub to recruit soldiers - urging them to stop pleasuring themselves and instead join the private militia.

The Russia-Ukraine war has been ongoing for over a year now. Kremlin, the Goliath in the fight, is seemingly running out of resources to keep up. Reports state that President Vladimir Putin's mercenary army Wagner Group is so hard-pressed for men that it is using Pornhub to recruit soldiers - urging them to stop pleasuring themselves and instead join the private militia. A video clip of a commercial running on Pornhub has gone viral on social media platforms. The clip shows a blonde woman wearing red lipstick and twirling, what seems like a lollipop in her mouth. A seductive voice in the background can be heard saying, "we are the f**king coolest private army in the world". “We are recruiting fighters from all regions of Russia. Don’t w**ck off, go work for PMC Wagner," it adds, before a phone number appears on the screen, believed to be associated with the Wagner Group. (NOTE: WION cannot independently verify the authenticity of the below media) ЗМІ звернули увагу на те, що ПВК "Вагнер", власником якого є Євген Пригожин, почали рекламувати на популярному порносайті Pornhub (18+). pic.twitter.com/pXfiXq2jrI — Українська правда ✌️ (@ukrpravda_news) March 15, 2023 × It is unclear if the ad is actually running on the platform or if it is another propaganda piece launched by the Ukrainian side. The private mercenary army has been founded by Yevgeny Prigozhin, who many dub a close ally of Putin. However, the relationship between the two has been on shaky ground in recent times. Prigozhin recently accused the Russian president of cutting him off completely, claiming that he was left alone in making war-related decisions about his army. His paramilitary army has suffered heavy losses when trying to capture the eastern city of Bakhmut in Ukraine. “To get me to stop asking for ammunition, all the hotlines to offices, to departments etc have been cut off from me. But the real humdinger is that they’ve also blocked agencies from making decisions [related to Wagner]," said Prigozhin. Read more: Russian mercenary group Wagner’s chief reveals ‘political ambitions’, to run for Ukraine’s president in 2024 Moreover, the Wagner chief has for some time been at odds with the Russian military chiefs, including Defence Minister Sergey Shoygu and head of the General Staff Valery Gerasimov. He has questioned their competence and has voiced his suspicions of the ministry's "jealousy" for the success of his mercenary troops. Though Wagner Group remains desperate for soldiers, Prigozhin is out making tall claims that he will be running for Ukraine's presidential post in 2024. WATCH | Wagner group head accuses Russian command of treason × "I'm making a political coming out. Looking at everything around me, I've got political ambitions. I decided to run for president in 2024. For President of Ukraine," he said. "If I win the presidential elections of Ukraine, then everything will be fine, guys, the shells will not be needed." (With inputs from agencies) WATCH WION LIVE HERE:

Putin's 'desperate' Wagner Group using Pornhub to recruit fighters for Ukraine war

<p>The US city of San Franciso is planning to give out $5 million in reparations to each qualifying Black resident as compensation for the cruel legacy of slavery and racism. A city-appointed reparations committee made the recommendation earlier this week, while also asking for the elimination of personal debt, tax burdens and promising annual incomes of at least $97,000 for 250 years.&nbsp;</p>

<p>The San Francisco Board of Supervisors voiced their support upon hearing the recommendations. Reports state that the board has begun seriously considering the proposal, despite the opponents suggesting the price tag is too high to pay.&nbsp;</p>

<p>"When you consider all of the ways in which the systems and practices have been managed to exclude and steal, if you will, the opportunities for financial mobility - families are hurting and have been for decades, if not longer," Eric McDonnell, the reparations committee chairman, told the San Francisco Chronicle.&nbsp;</p>

<p><a href="https://www.wionews.com/videos/gravitas-us-edition-black-lives-matter-movement-a-wion-ground-report-414762"><strong>WATCH |&nbsp;Gravitas US Edition: Black Lives Matter Movement: A WION Ground Report</strong></a></p>

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<p>When quizzed about how the committee arrived at the reparation sum,&nbsp;McDonnell said 'there wasn't a math formula'.&nbsp;</p>

<p>"There wasn't a math formula. It was a journey for the committee towards what could represent a significant enough investment in families to put them on this path to economic well-being, growth and vitality that chattel slavery and all the policies that flowed from it destroyed."</p>

<p>The draft proposal was first presented in December last year and since then, more than 100 suggestions have been added to it. The final report by the panel&nbsp;is expected to be released in June.</p>

<p>The reparations debate has been raging for a long time in the US. The Black Lives Matter movement acted as a catalyst, with many demanding that Blacks receive their due. Last year, Boston City Council took a leaf out of San Franciso's book and appointed a reparations task force.</p>

<p><a href="https://www.wionews.com/world/denver-police-officers-who-wrongfully-detained-black-girls-not-to-be-charged-355807"><strong>ALSO READ |&nbsp;Denver: Police officers who wrongfully detained Black girls not to be charged</strong></a></p>

<p>Though the idea appears great on paper, experts say the committee has not been able to determine who will qualify for receiving the reparations.</p>

<p>The current qualifying criteria is rather vague as it states that a person will have to be at least 18 years old and must have identified as Black or African American for at least a decade in the public documents. It adds that the person should have lived in the city during a certain time and should be descending from someone “incarcerated for the failed War on Drugs".&nbsp;</p>

<p>An estimated 50,000 Black people live in the city and granting reparations to even a&nbsp;tiny faction may put a heavy toll on the exchequer, the opponents argue. The city is already facing a deficit of more than $728 million, according to reports.&nbsp;</p>

<p><em>(With inputs from agencies)</em></p>

<p><strong>WATCH WION LIVE HERE:&nbsp;</strong></p>

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The US city of San Franciso is planning to give out $5 million in reparations to each qualifying Black resident as compensation for the cruel legacy of slavery and racism.

The US city of San Franciso is planning to give out $5 million in reparations to each qualifying Black resident as compensation for the cruel legacy of slavery and racism. A city-appointed reparations committee made the recommendation earlier this week, while also asking for the elimination of personal debt, tax burdens and promising annual incomes of at least $97,000 for 250 years. The San Francisco Board of Supervisors voiced their support upon hearing the recommendations. Reports state that the board has begun seriously considering the proposal, despite the opponents suggesting the price tag is too high to pay. "When you consider all of the ways in which the systems and practices have been managed to exclude and steal, if you will, the opportunities for financial mobility - families are hurting and have been for decades, if not longer," Eric McDonnell, the reparations committee chairman, told the San Francisco Chronicle. WATCH | Gravitas US Edition: Black Lives Matter Movement: A WION Ground Report × When quizzed about how the committee arrived at the reparation sum, McDonnell said 'there wasn't a math formula'. "There wasn't a math formula. It was a journey for the committee towards what could represent a significant enough investment in families to put them on this path to economic well-being, growth and vitality that chattel slavery and all the policies that flowed from it destroyed." The draft proposal was first presented in December last year and since then, more than 100 suggestions have been added to it. The final report by the panel is expected to be released in June. The reparations debate has been raging for a long time in the US. The Black Lives Matter movement acted as a catalyst, with many demanding that Blacks receive their due. Last year, Boston City Council took a leaf out of San Franciso's book and appointed a reparations task force. ALSO READ | Denver: Police officers who wrongfully detained Black girls not to be charged Though the idea appears great on paper, experts say the committee has not been able to determine who will qualify for receiving the reparations. The current qualifying criteria is rather vague as it states that a person will have to be at least 18 years old and must have identified as Black or African American for at least a decade in the public documents. It adds that the person should have lived in the city during a certain time and should be descending from someone “incarcerated for the failed War on Drugs". An estimated 50,000 Black people live in the city and granting reparations to even a tiny faction may put a heavy toll on the exchequer, the opponents argue. The city is already facing a deficit of more than $728 million, according to reports. (With inputs from agencies) WATCH WION LIVE HERE:

San Francisco proposes giving $5mn in reparations to Black residents for racism, slavery

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<p>A helicopter crashed in the early hours of Wednesday in the US state of California after a thief attempted to steal it, reported Associated Press. The incident took place at the Sacramento Executive Airport</p>

<p>Fortunately, no one was injured in the accident as the thief fled the spot while the authorities remain on the lookout. Sacramento police informed that the intruder trespassed into the property between 4 AM and 6 AM local time and attempted to hotwire four helicopters sitting on the tarmac. The thief got lucky with one chopper, managing to start it but soon lost control over it.&nbsp;</p>

<p>The Federal Bureau of Investigation (FBI) has been called upon to investigate the accident. The agency informed it had already zeroed in on a suspect. Sean Reagan, special agent in charge said the agency collected surveillance video and witness information leading to a particular person of interest.&nbsp;</p>

<p><a href="https://www.wionews.com/videos/decoding-the-disasters-nepals-troubled-history-of-plane-crashes-552899"><strong>WATCH |&nbsp;Decoding the disasters: Nepal's troubled history of plane crashes</strong></a></p>

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<p>Reagan added that the agency was trying to determine the motive of the thief.&nbsp;</p>

<p>"If someone wanted to take an aircraft for a joyride, someone who wanted to take an aircraft to do some other criminal activity or damage to other property, terrorism would be at the other end of the scope."&nbsp;</p>

<p>Meanwhile, the Bell 429 heavy-lift helicopter which belonged to a company named Capitol Helicopters released a statement and hoped that the perpetrator was caught early.&nbsp;</p>

<p>"Sometime early this morning several helicopters operated by our company were vandalized by an individual unknown to us, and one aircraft was severely damaged. All our employees are safe, and we do not believe that anyone was injured in today’s events," read the statement.&nbsp;</p>

<p>This incident is currently under investigation by several state and federal authorities. We are hopeful that the people responsible are located quickly. We have no further information to report at this time. We appreciate the support from all the agencies and individuals involved."</p>

<p>Alongside FBI,&nbsp;Federal Aviation Administration, and the National Transportation Safety Board have also started investigating the case.&nbsp;</p>

<p>(With inputs from agencies)</p>

<p><strong>WATCH WION LIVE HERE:&nbsp;</strong></p>

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A helicopter crashed in the early hours of Wednesday in the US state of California after a thief attempted to steal it, reported Associated Press. The incident took place at the Sacramento Executive Airport Fortunately, no one was injured in the accident as the thief fled the spot while the authorities remain on the lookout.

A helicopter crashed in the early hours of Wednesday in the US state of California after a thief attempted to steal it, reported Associated Press. The incident took place at the Sacramento Executive Airport Fortunately, no one was injured in the accident as the thief fled the spot while the authorities remain on the lookout. Sacramento police informed that the intruder trespassed into the property between 4 AM and 6 AM local time and attempted to hotwire four helicopters sitting on the tarmac. The thief got lucky with one chopper, managing to start it but soon lost control over it. The Federal Bureau of Investigation (FBI) has been called upon to investigate the accident. The agency informed it had already zeroed in on a suspect. Sean Reagan, special agent in charge said the agency collected surveillance video and witness information leading to a particular person of interest. WATCH | Decoding the disasters: Nepal's troubled history of plane crashes × Reagan added that the agency was trying to determine the motive of the thief. "If someone wanted to take an aircraft for a joyride, someone who wanted to take an aircraft to do some other criminal activity or damage to other property, terrorism would be at the other end of the scope." Meanwhile, the Bell 429 heavy-lift helicopter which belonged to a company named Capitol Helicopters released a statement and hoped that the perpetrator was caught early. "Sometime early this morning several helicopters operated by our company were vandalized by an individual unknown to us, and one aircraft was severely damaged. All our employees are safe, and we do not believe that anyone was injured in today’s events," read the statement. This incident is currently under investigation by several state and federal authorities. We are hopeful that the people responsible are located quickly. We have no further information to report at this time. We appreciate the support from all the agencies and individuals involved." Alongside FBI, Federal Aviation Administration, and the National Transportation Safety Board have also started investigating the case. (With inputs from agencies) WATCH WION LIVE HERE:

Heist gone wrong: Thief crashes stolen helicopter at Sacramento Airport

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