A Nicaraguan judge has ordered the confiscation of all assets belonging to the Central American University (UCA), a prestigious Jesuit-run university, as part of the government's crackdown on Catholic clergy and church-affiliated institutions. The UCA, considered one of Central America's top private institutions, has been accused by the government of being a "center for terrorism organized by criminal groups," a claim the university vehemently denies. This seizure follows escalating tensions between the government and Nicaragua's Catholic Church, whose leaders acted as mediators during the 2018 anti-government protests.
JPMorgan Chase & Co. and PNC Financial Services Group Inc. are among the big banks bidding to buy First Republic Bank after a government seizure of the troubled lender by the Federal Deposit Insurance Corp. The seizure and sale of First Republic could happen as soon as this weekend.
First Republic Bank is reportedly working on a plan to prevent government seizure, as the bank is seen as a potential risk to financial stability due to its concentration of wealthy clients and high exposure to the tech industry. The bank is said to be exploring options such as reducing its reliance on deposits from the wealthy, diversifying its loan portfolio, and improving its risk management practices.
The Mexican military and local state police have seized an American company's quarry facility in Mexico, sparking outrage among former and current government officials. Vulcan Materials, the largest producer of construction aggregates in the US, said the military and police forced the company to allow CEMEX, a Mexican-owned materials company, to unload a shipment of cement from a ship in the port. Vulcan has been in tension with Mexico for months after Mexican President Andrés Manuel López Obrador forced a shutdown of the quarry's operations in May 2022.
