A California man allegedly stabbed to death his parents, his two young sons and the family's dog at a home in a coastal community before telling police who arrested him it was his "destiny" to kill them, authorities said on Tuesday.
By Joan Magee and Daniel Bases NEW YORK (Reuters) - International banks are struggling to reach a deal to buy a chunk of Argentine sovereign debt held by New York hedge funds suing the country, dampening market hopes for a swift end to the country's latest debt default. Citigroup , Deutsche Bank , HSBC and JP Morgan offered the holdout hedge funds 40 cents on the dollar for the roughly $1.66 billion of bonds, including interest, and raised the offer to 50 cents on Monday, sources told Thomson Reuters IFR. Those negotiations are taking place parallel to faltering talks between Argentina and the holdouts led by Elliott Management Corp and Aurelius Capital Ltd. Daniel Pollack, the U.S. court-appointed mediator overseeing the negotiations, told Reuters he expected more meetings with both sides, though he did not say when. Monday's offer from the banks to the holdouts, who bought the bonds on the cheap during and after the country's 2001-2002 economic crash, remained far below the 80 cents first proposed last week.
A federal judge could once again push back the start date for the trial on Detroit's exit from the largest municipal bankruptcy in U.S. history after some creditors said on Tuesday a possible settlement is snarling key components of the restructuring plan. The complicated settlement rests on a tender offer for $5.2 billion of the city's water and sewer revenue bonds. Because the settlement could significantly alter the proposed restructuring plan that U.S. Bankruptcy Judge Steven Rhodes will weigh at the trial, some city creditors are asking for a two-week delay to the start date. Detroit wants to maintain the current schedule and has suggested moving testimony on the revenue bond settlement toward the end of the trial.
FRESNO, Calif. (AP) — A Northern California man accused of starting one of the state's largest wildfires when he lost control of his campfire last year can leave jail while the criminal case plays out in court, a federal judge said Tuesday.
RAPID CITY, S.D. (AP) — Members of a Black Hills family and their friends acknowledge that a betting pool they run on how many bikers will die during the annual Sturgis Motorcycle Rally in South Dakota is a bit macabre, but they say they mean no harm.