£1.1bn in fees, 3.1m hours, 14 years: the UK cost of winding up Lehman Brothers

PwC, administrator of Lehman’s London arm since bank’s failure in 2008, secures three more years to finish process

Administrators will spend at least three more years winding up the London-based arm of Lehman Brothers, swelling the almost £1.1bn in fees that PwC has already raked in since the bank’s calamitous collapse in 2008.

PwC has secured court approval to extend the administration process for the investment bank’s European hub to 2025, given the “complexity of unwinding the group’s affairs” after one of the biggest corporate failures in history.

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‘Atmospheric river’ pummels California with heavy rain and snow

While rest of US digs out from arctic blast, the Golden State sees welcome showers to mitigate dry days in coming new year

A major storm known as an “atmospheric river” is pummeling California with heavy rain and high winds, continuing a streak of weather whiplash that has jolted the state from unseasonal heat to downpours in a matter of days.

The storm, spawned by a low pressure system off the Pacific north-west, delivered deluges across the San Francisco Bay Area as it made landfall on Monday night, prompting the National Weather Service to issue flood advisories and watches through large parts of central and northern California. The storm is forecast to soak the southern part of the state by Tuesday evening, although it will soften as it moves down the coast. Forecasters said California will experience unsettled weather through the week.

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Donald Trump’s tax returns to be made public by US House panel on Friday

The House ways and means committee confirmed that the former president’s tax records from 2015 to 2021 will be released

Donald Trump’s redacted tax returns will be made public on Friday after a powerful congressional committee voted last week to release them.

A spokesperson for the US House of Representatives ways and means committee confirmed the timing of the release in a statement to Reuters on Tuesday.

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Largest-ever US higher education strike ends after ‘landmark’ deal

Agreement hailed as a new national standard, boosting wages and working conditions for students employed at public universities

Academic workers in California have ended a nearly six-week strike, described as the largest ever to hit US higher education, after approving a “landmark” agreement for higher wages on Friday.

The strikes across the University of California (UC) system ground campus life to a halt, disrupting classes and exams as thousands formed picket lines and staged noisy protests to demand better pay.

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‘Unacceptable’: Southwest flight chaos and cancellations lead to US inquiry

The airline cancelled about 8,000 flights, stranding customers and leading to hours-long queues to speak with overworked staff

The US Department of Transportation will examine thousands of flight cancellations by Southwest Airlines over the holiday weekend, a massive disruption which left thousands of holiday travelers grounded, even in areas of the country not suffering from winter storms.

In a tweet on Tuesday, Joe Biden said: “Thousands of flights nationwide have been canceled around the holidays. Our administration is working to ensure airlines are held accountable.”

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New York winter storm death toll at 34 with more snow on the way

Erie county executive says ‘this is not the end yet’ as forecasters say 9in more snow could fall through Tuesday

As Buffalo, New York, reeled from a historic winter storm that left at least 34 dead, first responders charged with the grim task of looking for more victims battled snow drifts and sub-freezing temperatures.

“We’ve had so many bodies that various hospitals are full and we’re just having to go through and determine if the individuals have died from a blizzard-related death,” Mark Poloncarz, executive of Erie county, told CNN.

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Suspect arrested over fatal knife attacks in New York

Roland Codrington, 35, accused of murdering two men three days apart in apparently random encounters

A suspect was named on Monday in two seemingly isolated and random outdoor murders in New York City at the height of the holiday season.

Roland Codrington, 35, is accused of murdering two men who were slashed to death in night-time killings three days apart.

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Trump insider says ‘some accurate stuff’ in profile of moribund 2024 campaign

Ex-president calls magazine reporter who likened him to Norma Desmond of Sunset Boulevard a ‘shaky and unattractive wack job’

Rejecting a New York Magazine story which said his campaign for the Republican presidential nomination in 2024 was all but moribund a little more than a month after he announced it, Donald Trump subjected the writer to misogynistic abuse.

Olivia Nuzzi, Trump said, was “a shaky and unattractive wack job”.

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New York congressman-elect admits lying about college and work history

Republican George Santos, elected to represent parts of Long Island and Queens, admits ‘embellishing résumé’

A New York Republican congressman-elect has admitted that he lied about his job experience and college education during his successful campaign for a seat in the US House.

George Santos, who was elected in November to represent parts of northern Long Island and north-east Queens, told the New York Post: “My sins here are embellishing my résumé. I’m sorry.”

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Biggest climate toll in year of ‘devastating’ disasters revealed

Most expensive storm cost $100bn while deadliest floods killed 1,700 and displaced 7 million, report finds

The 10 most expensive storms, floods and droughts in 2022 each cost at least $3bn (£2.5bn) in a “devastating” year on the frontline of the climate crisis, a report shows.

Christian Aid has highlighted the worst climate-related disasters of the year asmore intense storms, heavy downpours and droughts are driven by rising global temperatures as a result of human activity.

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US braces for more deaths as ‘blizzard of the century’ grips nation

Rescue crews struggle to reach stranded residents in Buffalo, New York, where dozens have been killed in winter storms

Emergency crews in New York were scrambling to rescue marooned residents from what authorities called the “blizzard of the century,” a relentless storm that has left 27 dead in the state and taken at least 60 lives nationwide, according to an NBC News tally.

In New York state, authorities have described ferocious conditions, particularly in Buffalo, with hours-long whiteouts, bodies being discovered in vehicles and under snow banks, and emergency personnel going “car to car” searching for more motorists, alive or dead.

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Stories of survival and rescue emerge from ‘war with mother nature’ in Buffalo

Amid a deadly winter storm, heart-warming tales spring forth of neighbors assisting stranded tourists and helping deliver babies

As the US reels from a winter storm that has killed nearly 50 people nationwide, stories of hope and resilience have nonetheless emerged from America’s hardest hit region, western New York state.

This storm, which has resulted in 27 deaths around the city of Buffalo, brought hurricane-force winds and nearly four feet of snow in parts of the region, thwarting first responders’ emergency response and rescue efforts. “This is a war with mother nature, and she has been hitting us with everything she has,” New York’s governor Kathy Hochul said.

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Ukraine aims for UN-backed peace summit in February

Russia can only be invited if it has faced a war crimes tribunal first, says foreign minister, Dmytro Kuleba

Ukraine is aiming to hold a peace summit by the end of February – preferably at the United Nations with its secretary general, António Guterres, as a possible mediator – according to its foreign minister.

But Dmytro Kuleba said that Russia could only be invited if the country faced a war crimes tribunal first.

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US military academy begins removal of Confederate memorials from campus

The elite military school is taking down monuments from its Hudson Valley, New York, site in accordance with Pentagon orders

The elite US military academy at West Point is removing Confederate monuments from its Hudson Valley campus in New York state, in accordance with a congressional review and orders set in motion by the Pentagon.

The removal, which includes a portrait of Gen Robert E Lee in Confederate uniform, began on 18 December. The academy, America’s oldest, said the operation to either take down or modify displays memorializing the Confederacy would be a “multi-phased process”.

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Crocodile dies after chewing on electric wire after being ‘attracted’ to it

The 10-year-old male Cuban crocodile at the Smithsonian zoo in Washington, DC, likely bit on electrical equipment in its enclosure

An endangered crocodile in a Smithsonian zoo in the US died after apparently biting into a live electrical cord in its shelter.

The Cuban crocodile, a 10-year-old male reptile, was discovered on 17 December inside its enclosure by staff at the Smithsonian’s National Zoo and Conservation Biology Institute (NZCBI)’s Reptile Discovery Center in Washington, DC.

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More than 14,000 in Washington state lose power after energy station attacked

Christmas Day outages add to an alarming string of incidents with similar power grid vandalism in Oregon and North Carolina

More than 14,000 people suffered power outages in Washington state on Christmas Day following burglaries and a series of vandalisms at different power stations.

The Pierce county sheriff said in two statements that no suspects have yet been identified for the incidents.

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At least 48 people dead in US winter storm as freezing conditions to continue

Buffalo and surrounding area in western New York hit especially hard as power knocked out and many travelers stranded

Freezing conditions from a deadly winter storm in the United States will continue into the week as western New York deals with massive snowdrifts that have snarled emergency vehicles, and travelers across the country see cancelled flights and dangerous roads.

The storm has killed at least 48 people and is expected to claim more lives after trapping some residents inside houses and knocking out power to tens of thousands of homes and businesses.

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Professor sues TikTok accuser for linking her to Idaho students’ murders

Rebecca Scofield said a TikTok user spread baseless and false claims linking her to the November slayings of four students

A University of Idaho professor has filed a defamation lawsuit against a self-proclaimed psychic on TikTok after the tarot card reader accused her of killing four of the school’s students, whose murders shocked the US last month.

The federal lawsuit filed by the university’s history department chair Rebecca Scofield on Wednesday alleges that TikTok user Ashley Guillard spread baseless claims which falsely linked the professor to the 13 November slayings of Xana Kernodle, 20; Ethan Chapin, 20; Maddie Mogen, 21; and Kaylee Goncalves, 21, in Moscow, Idaho.

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Two dead at Jehovah’s Witnesses center in Colorado

Police say the shooting involved a married couple – an unidentified man fatally shot a woman before killing himself

Police in Thornton, Colorado, say they found two adults dead after investigating a suspected murder-suicide at a Jehovah’s Witnesses Kingdom Hall on Christmas morning.

Officers in the suburb north of Denver tweeted at 10.30am Sunday that they were investigating a homicide at the gathering place but that “there [was] no active threat”.

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