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The term "money laundering" was never more appropriate than this week, when Dutch police found around 0,000 stuffed inside the drum of a washing machine.A man present in the house during Monday's raid was arrested on suspicion of -- yes, you've guessed it -- money laundering.Authorities were checking for unregistered residents in western Amsterdam when they found the load."The municipal administration revealed that no one lived at the address," the police told CNN in a statement. "When the police did a search through the house they found �350,000 hidden in the washing machine."The police also confiscated several mobile phones, a firearm and a money-counting machine during the raid. The suspect, who is 24 years old, has not been named.The police news release included a picture of bundles of �20 and �50 bills crammed into the washing machine.They said in a statement that the raid was part of an investigation into "housing fraud, money laundering and other [signs] of crime." 997
The success of online retailers such as Amazon is proof positive that people like shopping online, but many parents still prefer going to the actual store for their children's back-to-school supplies.That way, they have their items right away, and their children can see and hold their new supplies themselves. Who's getting the better deal, though? People who frequent Amazon, or those who head to physical stores such as Target and Walmart?We priced a basket of items for a third-grade classroom, including pencil sharpeners, Crayola colored pencils, Elmer's school glue, Expo markers and Ticonderoga pencils.And we can't forget that oh-so-cute Disney backpack. 691
The stomach-churning market scare continues.The Dow tumbled 546 points, or 2.1%, on Thursday following another rollercoaster session. The index briefly turned positive during morning trading before succumbing to heavy selling pressure. At one point the Dow was down 699 points. The Dow has shed 1,378 points over the past two days.The mood on Wall Street was only slightly calmer than Wednesday's 832-point nosedive.The S&P 500 closed down 2.1%, notching its sixth-straight losing session. It's the longest slump for the broad index since just prior to President Donald Trump's election more than two years ago.The Nasdaq briefly tumbled into a correction, signaling a 10% decline from previous highs. But the index climbed out of correction territory and closed down 1.3%.All three major indexes have lost more than 5% this week. That hasn't happened since March."This kind of washout doesn't get accomplished in a day. Even though yesterday felt traumatic, it tends to be a three-day process," said Art Hogan, chief market strategist at B. Riley FBR.The VIX volatility index touched its highest level since February.One positive is that unlike on Wednesday, the market did not close on the lows of the day. The rebound was helped by fresh?reports that President Donald Trump and Chinese leader Xi Jinping have agreed to meet next month at the G-20 summit. Such a meeting could ease fears that the US-China trade war will hurt corporate profits and slow the US economy.Tech stocks have come under fire because they are some of the riskiest and most expensive parts of the market. Investors fear how these momentum names will hold up in a downturn, particularly as interest rates spike. A proxy for the tech sector had its sharpest plunge in seven years on Wednesday."Halloween started early this month for investors," Ed Yardeni, president of investment advisory firm Yardeni Research, wrote to clients.The afternoon sell-off comes even though a new report showed that consumer prices rose less than expected in September.Stocks have turned sharply south in large part because investors are concerned about rising interest rates. As the Federal Reserve raises rates to prevent runaway inflation, investors have been getting out of bonds, driving down their price and driving up their yields. Suddenly, the return on bonds has become competitive with some stocks — particularly risky tech stocks.Rising interest rates also increase borrowing costs for households and businesses, eating into corporate profits. 2551
The U.S. Olympic Committee has announced Salt Lake City will be its choice in a bid for the Winter Games in 2030 or beyond."We won!" Governor Gary Herbert cheered, holding hands in victory with Salt Lake City Mayor Jackie Biskupski, Council Chairwoman Erin Mendenhall and others."This has been the culmination of a significant team effort, starting with the support of the public," the governor added.The announcement came following a meeting by the U.S. Olympic Committee in San Francisco on Friday. Salt Lake City was competing with Denver for the nomination.The International Olympic Committee is expected to pick the next host cities for future Games in 2023.Salt Lake City has argued it is uniquely situated to host another Olympics. Our venues are still operating and in excellent condition and our infrastructure is in place with billions in expansions (light rail, a new airport, etc.). There is also significant support with polls showing 89% of Utahns in favor of another bid."We feel like we’re as prepared as we could be. We have unanimity with our public officials that have lined up behind this effort," said Jeff Robbins, the president of the Utah Sports Commission.The cost to host an Olympics would also be cheaper than other cities. It would cost about .4 billion, but boosters insist it would not cost any state or local tax dollars. Instead, it would be paid for in broadcast rights, sponsorships and ticket sales."People say, 'Well, is this worth the investment?' The investment is zero! Look at all we get. Number one, we get the spotlight of the world on Utah and we get to show the world what a great state this is, what great people are here. The volunteers were fantastic last time," said Fraser Bullock, an executive for Salt Lake's 2002 Winter Olympics and the co-chair of this Olympic Exploratory Committee.Utah estimates it received more than billion in economic benefit from the 2002 Winter Olympics. Mayor Biskupski said she envisioned the next Games that Utah could host would be even better. She said there would be an emphasis on sustainability (as in, environmentally friendly) and a modern Olympics."This will be an entirely new Games and experience. We're excited to bring that vision," she said. 2247
The University of Notre Dame has withdrawn as the host site of the first presidential debate, the university announced on Monday.Notre Dame had been set to host the first presidential debate on Sept. 29.In a statement, the university said it made the decision to withdraw after consultation with the St. Joseph County Health Department and with the unanimous support of the executive committee of the university's board of trustees.The Rev. John Jenkins, president of the University of Notre Dame, made what he called "this difficult decision because the necessary health precautions would have greatly diminished the educational value of hosting the debate on our campus."Notre Dame follows the University of Michigan in opting not to host a debate. The Oct. 15 debate that was originally scheduled to be held in Ann Arbor, Michigan, will be held in Miami instead.In a letter to the campus community, Jenkins said that "the inevitable reduction in student attendance in the debate hall, volunteer opportunities and ancillary educational events undermined the primary benefit of hosting — to provide our students with a meaningful opportunity to engage in the American political process."The Commission on Presidential Debates on Monday announced that the first presidential debate will now be co-hosted by Case Western Reserve University and Cleveland Clinic and held at the Health Education Campus in Cleveland.It will be the second CPD-sponsored debate hosted by Case Western Reserve University. In 2004, the university was the site of the Vice Presidential Debate."We are honored to host this presidential debate at our shared Health Education Campus,” Cleveland Clinic CEO and President Tom Mihaljevic, M.D., and Case Western Reserve University President Barbara R. Snyder said in a joint statement. “This pandemic has highlighted the critical importance of health care and scientific discovery in unprecedented ways. To have the presidential candidates discuss these issues in our innovative learning space represents a tremendous opportunity for both institutions – and our entire region.”Notre Dame has hosted six presidents at commencement ceremonies through the years — more than any university in the nation other than the military academies — but this would have been the university's first presidential debate, the university said in a statement."I am grateful to the many members of the university community who have devoted countless hours planning this event, and to the Commission on Presidential Debates leadership for their professionalism and understanding," Jenkins said. "But in the end, the constraints the coronavirus pandemic put on the event — as understandable and necessary as they are — have led us to withdraw."This year's debates, sponsored by the Commission on Presidential Debates, are:Tuesday, Sept. 29 — Case Western Reserve University and Cleveland Clinic, ClevelandWednesday, Oct. 7 — Vice presidential debate at the University of Utah, Salt Lake CityThursday, Oct. 15 — Adrienne Arsht Center for the Performing Arts, Miami, Fla.Thursday, Oct. 22 — Belmont University, Nashville, Tenn.This article was written by WRTV in Indianapolis and WEWS in Cleveland. 3201
