News from the Associated Press - July 15, 2014

Associated Press
July 15, 2014

Weather service: Tornado caused damage Sunday

WATKINS GLEN, N.Y. (AP) - Meteorologists with the National Weather Service have confirmed that a tornado touched down in the Finger Lakes during violent storms over the weekend.

The weather service in Binghamton confirmed Monday that the tornado touched down around 4:40 p.m. Sunday in the Schuyler County town of Reading, just outside the village of Watkins Glen.

Meteorologists say the tornado was rated EF-1, with wind speeds between 86 and 110 mph.

Several homes were damaged and trees toppled, but the sheriff's office says no injuries have been reported.

The storms hit the region as hundreds of people were attending the Finger Lakes Wine Festival at Watkins Glen Racetrack.

Four people were killed last week in Smithfield in central New York by one of the five tornadoes that touched down in the upstate region.

 

Astorino raises $3.4M for bid against Gov. Cuomo

ALBANY, N.Y. (AP) — Republican Rob Astorino has raised $3.4 million in the last six months for his bid to challenge Democratic New York Gov. Andrew Cuomo.

Astorino's spokeswoman says Monday that the contributions came from more than 4,000 donors. After campaign expenses were deducted, Astorino reports having $2.4 million on hand.

Some $600,000 of Astorino's money was transferred from the campaign account he used for his current position, the Westchester County executive.

Spokeswoman Jessica Proud says Astorino is pleased with the support and expects to raise additional resources as voters learn more about his campaign.

Tuesday is the deadline for campaigns to file new finance reports.
Cuomo remains well ahead in polls and in fundraising, with $33 million in his account as of January. Cuomo has not yet released his most recent numbers.

 

NY to get $182M from Citigroup's $7B settlement

ALBANY, N.Y.  (AP) - New York is poised to receive $92 million in cash and at least $90 million in consumer relief as part of a $7 billion national settlement with Citigroup for its handling of risky subprime mortgages that contributed to the national financial crisis in 2008.

In the settlement, the bank has acknowledged misrepresenting residential mortgage-backed securities that were toxic and led to both the housing boom and bust that triggered the Great Recession.

New York Attorney General Eric Schneiderman says the settlement contains a statement of facts where Citigroup acknowledges that, contrary to what it told investors at the time, it securitized and sold securities with underlying mortgage loans that it knew had material defects.

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