“Oh Oh!”

Commercial airlines are being routinely “jammed” or “spoofed” by military powers including the Russians, a pilot has told The Telegraph.

Flight decks on passenger planes have suffered satellite and communications blackouts triggering warning alerts as Global Positioning System (GPS) systems are attacked and either disabled or deceived.

A series of internal messages, seen by The Telegraph, which were sent to pilots at one airline also expose the “widespread” problem affecting airspace over war zones and regions experiencing increased military operations or border tensions.

Last 46 hours Baltic Jammer has been running in south Baltics.

At least 873 unique aircrafts has had their navigation equipment jammed. Each one a passenger jet filled with civilians.

E.g. Ryanairs SP-RKS has been without GPS for at least 2 hours going in and out of Vilnius. pic.twitter.com/hMWhKzbaiH

— Markus Jonsson (@auonsson) March 16, 2024

h/t Mauser

Stranger danger has metastasised into something darker

Why did Phoebe Copas shoot her Uber driver? The 48-year-old got into a car driven by Daniel Piedra Garcia on June 16 thinking she was heading to El Paso in Texas. But when she saw a sign reading “Juárez, Mexico” — which lies on the other side of the border — she pulled a handgun from her bag and shot Piedra in the head. He died several days later. Copas later told the police she panicked when she thought she was being abducted.

Bud Light and its parent firm Anheuser Busch continue to dominate the headlines over the Dylan Mulvaney scandal – but its far from the only drama to roil the company since it began brewing beer in 1876.

Former owner Billy Busch’s book Family Reigns details the marriages, divorces, deaths and boardroom sagas that have rocked the firm – and ultimately saw his family lose control of their empire thanks to a 2008 hostile takeover.

Much of the drama came courtesy of Billy’s father, former chairman Augustus ‘Gussie’ Busch Jr, who served as chairman between 1946 and 1975 – and whose grandfather Adolphus Busch created the brand.

A quarter of people in the UK believe that COVID was a “hoax,” according to reports of a new poll—though critics suggest the polls have read too much into the results, which might themselves also be questionable.

Saudi Arabia, the UAE, Algeria, Egypt, Bahrain, and Iran have formally asked to join the BRICS group of nations as it prepares to hold its annual summit in South Africa.

In total, 19 nations have expressed interest in joining the emerging-markets bloc of Brazil, Russia, India, China, and South Africa, according to Anil Sooklal, South Africa’s ambassador to the group.

Investors sparked a selloff in Deutsche Bank AG and thrust one of Europe’s most important lenders into the center of concerns about the health of the global financial system.

Shares of Germany’s largest lender tumbled as much as 15%, their third consecutive day of losses, though they later regained some ground and were recently down 10%. The cost to insure against its default using credit-default swaps soared to their highest levels since 2020.

The concern over Deutsche Bank emerged days after Credit Suisse Group AG was forced into a takeover by its larger and more stable rival UBS Group AG . Since the collapse of Silicon Valley Bank in the U.S. earlier this month, investors have scoured the globe for institutions perceived as vulnerable.

Is this going to a slow rolling panic?

Though the tragedy in East Palestine has been overshadowed in the news by banks crashing and the Biden family getting caught with millions of Chinese communist dollars Trump’s impending arrest, the small town in eastern Ohio is still reeling from the derailment or — more accurately — the spilling of toxic waste, much of which is still sitting in the town’s backyard, and the burning of toxic chemicals, which, as one local put it, “was burnt because they didn’t want to clean their own damn mess.”

Silicon Valley’s woke, feelgood brand of capitalism was always built on sand.

The new capitalists were supposed to be different. Unlike those corrupt titans of Wall Street or the money-grubbing oil men, the 21st-century tech gurus were meant to be a more ‘enlightened’ class of entrepreneur. They were going to transform our world, with their dazzling technology and their superior social values. Last week’s collapse of the Silicon Valley Bank (SVB) ought to shatter these illusions, once and for all.

Is there anything more … Soviet … than a bank that lends money to companies making things no one wants to buy?

That’s the missing puzzle piece we needed on why Silicon Valley Bank went belly up, and Kimberly Strassel of the Wall Street Journal has found it, persuasively arguing that yes, the failure of the bank was indeed premised on ESG, which descended into wokester lending priorities, creating the abnormal conditions that left the bank ripe for a meltdown.

Its collapse shows that the way bank deposits are insured needs to be rethought

Even by the standards of bank runs, the collapse of Silicon Valley Bank was remarkable. In February, Forbes magazine had put it on its Best 100 Banks list. Yet on Thursday, depositors withdrew $48 billion. That’s $14 million a second. Lines formed outside the bank’s various branches, reminiscent of the Great Depression. California banking authorities shut it down and turned it over to the Federal Deposit Insurance Corporation (FDIC) for sale or liquidation.

So what happened?

“It turned out that one of the biggest risks to our business model was catering to a very tightly knit group of investors who exhibit herd-like mentalities.” — Silicon Valley Bank senior executive

You are allowed to yell “fire!” in a crowded theater. Contrary to a popular myth, there is no U.S. law stopping you.

This past weekend, in our 21st-century theater—Twitter—economists and venture capitalists were screaming it at the top of their lungs, warning the rest of us about the meltdown of Silicon Valley Bank and the broader panic they were sure it portended. 

Legal experts said a possible focus of the investigation could be insider sales by several bank executives in the weeks before the bank’s failure.

The Justice Department has opened an investigation into the collapse of Silicon Valley Bank, the California lender that was taken over by federal regulators on Friday after its depositors rushed to pull their money out of the bank, two people with knowledge of the matter said.

The investigation is in its early stages and it is unclear just what federal prosecutors are focused on, the person said. A Justice Department spokesman declined to comment.

More … Obama official, Hillary donors, improv actor: Meet SVB’s board of directors

The unexpected seizure of two banks in three days by regulators intensified fears of a broader financial crisis, sending the stocks of more than two dozen banks into free fall on Monday, even as President Biden reassured Americans that the banking system was resilient and that customers’ money was safe.

Banks of various sizes in different parts of the country — from San Francisco-based First Republic Bank to Salt Lake City-based Zions Bank — found themselves battling market turmoil as customers rushed to withdraw their deposits and investors, worried about more runs, dumped bank stocks.

‘Absolutely idiotic’. SVB insider says employees are angry with CEO

The blame game is on for who caused Silicon Valley Bank’s collapse, and the tech sector is pointing the finger at SVB CEO Greg Becker for allowing his company to go down in history as the second-biggest US banking failure on record.

One Silicon Valley Bank employee, who requested anonymity to speak candidly, was dumbfounded by how Becker publicly acknowledged the extent of the bank’s financial troubles before privately lining up the necessary financial support to ride out the storm.

This set the stage for the panic that ensued as customers scrambled to pull their money.

I always get a chuckle when I hear someone talk about “real money,” as if it is something material. Because as the collapse of Silicon Valley Bank once more reveals, money is little more than an expression of faith, a collective delusion. Once people stop believing it’s there, lo and behold, it disappears.

Regional bank stocks staged their deepest retreat in three years on Monday, reflecting deepening investor concern about the health of the industry following three bank failures in the past week.

The KBW Nasdaq index of commercial banks dropped more than 10%, with large lenders such as Comerica Inc. and Zions Bancorp declining more than 20%. The SPDR S&P Regional Banking ETF dropped more than 15%, putting it on pace for its largest decline since 2008.

Banking is safe, Biden tells US as shares in smaller lenders fall

Shares in regional American lenders tumbled despite an extraordinary bid by regulators to ease pressure on the banking system and prevent contagion following the failures of Silicon Valley Bank and Signature Bank.

President Biden sought to reassure consumers and investors after his administration unveiled an emergency package of measures. “Americans can have confidence that the banking system is safe,” he said at the White House, adding that companies and their employees can “breathe easier”.

"Can you assure Americans that there won't be a ripple effect? Do you expect other banks to fail?"

BIDEN: *shuts door* pic.twitter.com/CNuUhPbJAi

— RNC Research (@RNCResearch) March 13, 2023