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Credit Suisse, UBS shares plunge; China's Xi arrives in Moscow; NCAA basketball highlights | Top headlines for March 20, 2023

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On this version of Hot off the Wire (posted March 20 at 7 a.m. CT):

  • Shares of Credit Suisse are down 60% in trading on the Swiss stock exchange. The drop comes after the announcement that banking giant UBS will buy its troubled rival for almost $3.25 billion.
  • Chinese leader Xi Jinping has arrived in Moscow on a three-day visit that shows off Beijing’s new diplomatic swagger and offers a welcome political lift for Russian President Vladimir Putin as the fighting in Ukraine slows to a grinding war of attrition.
  • A lawyer allied with Donald Trump is expected to testify before a New York grand jury.
  • Miami Beach officials imposed a curfew beginning Sunday night during spring break after two fatal shootings and rowdy, chaotic crowds that police have had difficulty controlling.
  • A new report says an estimated 43,000 people died amid the longest drought on record in Somalia last year and half of them likely were children.
  • “Shazam! Fury of the Gods” felt the fury of the marketplace in its theatrical debut this weekend. The New Line Cinema and Warner Bros. superhero movie opened to a disappointing $30.5 million from 4,071 theaters, according to studio estimates Sunday.
  • A TV meteorologist in Los Angeles says she's recovering after fainting on the air during a weekend newscast.
  • Former Vice President Donald Trump says the investigation into former President Donald Trump is politically motivated as Trump has called supporters to protest if he is arrested as he has claimed will happen this week.
  • In sports, a few bluebloods were ousted in the second round of the NCAA Tournament, the Nuggets knocked off the Nets, the Bruins battered the Sabres, Taylor Moore won a PGA title and Joey Logano won in Atlanta.
  • In entertainment, Lance Reddick, an actor from "The Wire" and "John WIck," has died at 60, Taylor Swift kicked off her tour and new music is due out soon from the late rapper Coolio.

—The Associated Press

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