Daily Briefing: Credit Suisse rebounds amid continued banking woes
Credit Suisse stock is soaring after the Swiss lender borrowed nearly $54 billion from the country's central bank. Also in the news: Deluges of rain in California have meant the end of drought restrictions for some Californians. And time to finish your brackets! Tonight is the first round in the NCAA men's tournament.
🙋🏼♀️ I'm Nicole Fallert, Daily Briefing author. What's the most popular dog in the U.S.?
This is Thursday's top news.
Shares of Swiss lender Credit Suisse rebound
Credit Suisse’s shares have soared after it announced a move to shore up its finances by borrowing up to $54 billion from the Swiss central bank. The borrowing has caused a massive swing Thursday after Credit Suisse's shares plunged the day before when its biggest shareholder refused to put any more money into the Swiss lender.
Bigger picture: European banks are getting dragged into expanding fears about the banking system following the collapse of U.S. banks.
Senate Republicans blame regulators for failing to spot problems at Silicon Valley Bank before its collapse last week, as a slide in stocks underscored investor fears that other banks could be vulnerable in the aftermath of SVB.
President Joe Biden is walking the line between taking aggressive enough measures to contain the damage while still reassuring investors and savers that the rest of the banking system is safe.
Silicon Valley Bank, Signature Bank executives gave thousands to Democrats and Republicans with the most influence over their industry.
Keep reading: Is my money safe in the bank right now?
Storm ends water restrictions for some Californians
California’s 11th atmospheric river this winter has flooded roadways, caused landslides and toppled trees to the southern part of the state. It has also brought drought-busting rainfall that meant the end of water restrictions for nearly 7 million people. The Metropolitan Water District of Southern California’s decision brought relief amid the state’s historic drought. As parts of the Northeast and California have started to move on from the heavy snow and rain that hit the regions this week, the Plains, Midwest, and South are bracing for dangerous winter weather on Thursday. Read Thursday's winter weather forecast.
California is inches away from a 30-year snowfall record as more of the state eclipses the 50-feet mark.
More news to know now
Tropical Cyclone Freddy has killed hundreds of residents in Malawi and Mozambique.
The rate of women dying in childbirth surged by 40%. What's to blame for these preventable deaths?
Los Angeles education workers say they'll strike late March. What are the consequences for students?
Is a 4-day workweek coming? What to know about latest attempt at a federal law in Congress.
On today's 5 Things podcast, USA TODAY Personal Finance and Markets Reporter Elisabeth Buchwald looks at how safe your money is after a turbulent week for banks. Listen on Apple Podcasts, Spotify, or your smart speaker.
🌤 What's the weather today? Check your local forecast here.
Access to abortion pills hangs in the balance
A ruling could come "as soon as possible" in a court case that could force a major abortion pill off the market nationwide, a federal judge in Texas said on Wednesday. Attorneys for anti-abortion group Alliance Defending Freedom asked U.S. District Judge Matthew Kacsmaryk to issue an immediate order that would revoke mifepristone's FDA approval, citing the drug's expedited approval in 2000. Attorneys representing the FDA countered and highlighted the long history of mifepristone as a safe and effective drug. Granting the injunction, they said, would undermine the agency's authority and the regulatory process. The ruling could bar healthcare providers from prescribing mifepristone even in states where abortion is legal. Read more
Who is Judge Matthew Kacsmaryk and why is the mifepristone case in his court?
A man sued Texas women he claims aided his ex-wife obtain abortion medication.
Utah abortion clinic operations have been banned by a new state law.
21 South Carolina Republicans support an anti-abortion bill that evokes the death penalty.
Activist convicted for helping domestic violence victim obtain abortion pills in landmark Polish case.
Japan, South Korea renew ties at historic Tokyo summit
A North Korean missile launch and encounters between Japanese and Chinese vessels in disputed waters hours before a historic summit between Japan and South Korea highlighted what's at stake for the two countries. In the bilateral meeting, Japan and South Korea agreed to resume regular visits between their leaders and took steps to resolve a trade dispute, a sign that the two countries are rebuilding their nations’ security and economic ties as they try to overcome a century of difficult history. Read our latest coverage on North Korea.
Russia says it will retrieve and study an American MQ-9 drone that crashed into the Black Sea.
Russia offers to host a new sports event with China, India.
Former Los Angeles Mayor Eric Garcetti confirmed as India ambassador after 20-month fight.
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Asian Americans say fears linger in Atlanta despite progress two years after shootings.
These articles are for USA TODAY subscribers. You can sign up here.
March Madness first round tips off
All 68 teams selected in this year's men's NCAA basketball tournament want to make it Houston. But before reaching the Final Four and having an opportunity to win a national title, teams must first navigate their regional schedules set up by the selection committee. The first round kicks off Thursday and it won't be an easy path for any of the teams as March Madness brings the potential for upsets along the way. Read more
Wednesday night recap: Mississippi State women win First Four game over Illinois.
Five potential first-round upsets for the men's tournament that could help you pick your bracket.
Making watch party plans? Here are the complete 2023 NCAA men's tournament schedules, results and times.
Opinion: Alabama's Brandon Miller, Ole Miss' Chris Beard symbolize SEC's tarnished image.
One more thing
Another North Carolina home fell into the Atlantic Ocean and more are at risk.
Aaron Rodgers says he wants to play for Jets, rips Packers.
Meet CIX: Everything you need to know about the K-pop group's members.
James Patterson: If Florida bans my books, ''no kids under 12 should go to Marvel movies.''
Everything Taylor Swift has been up to since her last tour ... ready for it?
Photo of the day: Iditarod 2023
Ryan Redington has won the Iditarod Trail Sled Dog Race, which his grandfather helped co-found. Redington’s grandfather, Joe Redington Sr., helped start the Iditarod, which had its first race in 1973. A lack of snow threatened this year's race course, forcing racers to alter their strategies. Read more about this year's iconic sled dog race.
Nicole Fallert is a newsletter writer at USA TODAY, sign up for the email here. Want to send Nicole a note? Shoot her an email at NFallert@usatoday.com or follow along with her musings on Twitter. Support journalism like this – subscribe to USA TODAY here.
Associated Press contributed reporting.
This article originally appeared on USA TODAY: Credit Suisse, winter weather, abortion pill, Japan, South Korea, NCAA March Madness: Daily Briefing
