Bank shares slide on report of rampant money laundering

The financial sector was hit hard today following a report alleging that a number of banks — JPMorgan, HSBC, Standard Chartered Bank, Deutsche Bank and Bank of New York Mellon among them — have continued to profit from illicit dealings with disreputable people and criminal networks despite previous warnings from regulators.

According to the International Consortium of Investigative Journalists, leaked government documents show that the banks continued moving illicit funds even after being warned of potential criminal prosecutions. The documents were obtained by BuzzFeed News and shared with the ICIJ.

The report compounded a massive sell-off across global markets because of gloom and doom over COVID-19 infections and the economic damage from the pandemic.

The consortium reported that d...

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Tropical Storm Lowell forms in Eastern Pacific

  • NATIONAL HURRICANE CENTER The 5-day forecast track for Tropical Storm Lowell in the Eastern Pacific.

    NATIONAL HURRICANE CENTER

    The 5-day forecast track for Tropical Storm Lowell in the Eastern Pacific.

A tropical storm has formed this morning about 2,400 miles east-southeast of Hilo on Hawaii island and about 450 miles south-southwest of the southern tip of Baja, Calif., according to the National Hurricane Center.

Tropical Storm Lowell has maximum sustained winds of 45 mph and is moving west-northwest at 16 mph.

The movement is expected to continue through Wednesday, followed by a turn toward the west on Wednesday night.

National Weather Service officials said models show Lowell will remain a tropical storm for the next five days, and that they are keeping an eye on it, but that it’s too soon to tell if there will be any impacts to the Hawaiian isles.

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Soaring wealth during pandemic highlights rising inequality

WASHINGTON >> Americans’ household wealth rebounded last quarter to a record high as the stock market quickly recovered from a pandemic-induced plunge in March. Yet the gains flowed mainly to the most affluent households even as tens of millions of people endured job losses and shrunken incomes.

The Federal Reserve said today that American households’ net worth jumped nearly 7% in the April-June quarter to $119 trillion. That figure had sunk to $111.3 trillion in the first quarter, when the coronavirus battered the economy and sent stock prices tumbling.

Since then, the S&P 500 stock index has regained its record high before losing some ground this month. It was up 2.8% for this year as of Friday. The tech-heavy Nasdaq has soared more than 20% this year.

The full recovery of wealth ...

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Ellen DeGeneres makes on-air apology, vows a ‘new chapter’

NEW YORK >> Ellen DeGeneres used her opening monologue of the new season of her daytime talk show to address allegations of a toxic work environment, apologizing for things “that never should have happened.”

“I know that I’m in a position of privilege and power and I realize that with that comes responsibility, and I take responsibility for what happens at my show,” she said in a video posted today.

“The Ellen DeGeneres Show” started its 18th season in Los Angeles with the host on stage for the first time in months after taping from DeGeneres’s home during quarantine. There wasn’t a studio audience but a virtual one, with faces beamed in on monitors put in the audience seats.

“We have had a lot of conversations over the last few weeks about the show, our workplace, and ...

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Trump to make court pick by Saturday, Ginsburg services set

WASHINGTON >> President Donald Trump said today he expects to announce his pick for the Supreme Court on Friday or Saturday, after funeral services for Ruth Bader Ginsburg and just days before the first presidential election debate.

Ginsburg’s casket will be on public view Wednesday and Thursday at the iconic steps outside the court building to allow for public mourning during the coronavirus pandemic. On Friday, Ginsburg will lie in state in the Capitol’s Statuary Hall in a ceremony open only to invited guests, Speaker Nancy Pelosi said.

The court said Ginsburg will be buried next week at Arlington National Cemetery in a private service.

Trump told “Fox & Friends” that he had a list of five finalists, “probably four,” and that he is pushing for a confirmation vote before Election D...

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Television and radio – Sept. 21, 2020

Television and radio – Sept. 21, 2020 | Honolulu Star-Advertiser

Sports | TV Radio

[ AD HAS BEEN REMOVED FROM THIS STORY ]

On the air
Listings are for Oceanic and Hawaiian Telcom analog/digital.
Some MLB and NBA games involving West Coast teams might be blacked out.
*premium station. Check your TV guide for latest updates.
***delayed. All games subject to blackout.
 
TV
TODAY
  TIME TV SPEC HT
BASEBALL: MLB        
Phillies/N...

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Google gets $25M tax break to build site

RENO, Nev. >> Google will receive more than $25 million in tax breaks after pledging an additional $600 million for a new data center in southern Nevada, state officials said.

The company previously committed $600 million to the data center in the Las Vegas suburb of Henderson.

Google also said it would invest $600 million to build a data center at the Tahoe Reno Industrial Center in northern Nevada, bringing its total investment in the state to $1.8 billion, said Gov. Steve Sisolak. To date, the company has invested $300 million in the Reno facility.

Sisolak and seven members of the state Office of Economic Development board approved more than $25 million in tax breaks for the construction of the company’s Henderson data center...

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Founder of GM electric truck partner quits amid allegations

FRANKFURT, Germany >> Shares in electric- and hydrogen-powered truck startup Nikola plunged on Monday after the company’s founder resigned amid allegations of fraud – just two weeks after signing a $2 billion partnership with General Motors.

The company said late Sunday that Trevor Milton resigned and the departing executive chairman said he would defend himself against accusations that the company made false claims about its vehicles, allegations that Nikola rejects.

Milton said in a message to Nikola employees that he was stepping aside because “the focus should be on the company and its world-changing mission, not me.”

Shares in the company based in Phoenix, Arizona, were off 30% in premarket trading. A report from Hindenburg Research from Sept...

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University of Hawaii medical school seeks COVID-19 positive patients for medication study

  • STAR-ADVERTISER / 2016 The University of Hawaii John A. Burns School of Medicine is seeking recently diagnosed COVID-19 patients for a 21-day study.

    STAR-ADVERTISER / 2016

    The University of Hawaii John A. Burns School of Medicine is seeking recently diagnosed COVID-19 patients for a 21-day study.

The University of Hawaii John A. Burns School of Medicine is seeking recently diagnosed COVID-19 patients for a 21-day study.

The study is led by Cecilia Shikuma, JABSOM professor of medicine and lead investigator, and researchers hope to find evidence that taking telmisartan, a medication used for blood pressure control, will prevent harmful effects of the virus.

Participants will be placed on either a placebo (sugar pill) or telmisartan.

“Finding an effective therapy for COVID-19 is very important. In fact, it may be more important or as important as finding a vaccine...

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City clerk at Wahiawa Driver Licensing Center tests positive for COVID-19

A city Department of Customer Services licensing clerk has tested positive for the coronavirus.

The employee, who is in self-quarantine, works at the Wahiawa Driver Licensing Center, which has been closed to the public for in-person visits since Aug. 27 and is slated to remain closed through at least Sept. 23 due to Honolulu Mayor Kirk Caldwell’s stay-at-home orders.

The city said the employee was last at work on Sept. 16 and that it had determined that there was no exposure risk to the public due to this confirmed positive case.

“We are supporting the individual who is recovering,” Sheri Kajiwara, director of the city’s Department of Customer Services, said in a statement...

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