Cruz didn't disclose $1M Goldman loan

DORCHESTER, S.C. -- Republican presidential candidate Ted Cruz failed to disclose on federal fundraising reports he relied on $1 million in loans to help finance his 2012 Senate campaign. The borrowed money included a sum from Goldman Sachs, where his wife, Heidi Cruz, is employed. The Texas senator's 2016 campaign spokeswoman Catherine Frazier called the failure to report those loans on fundraising documents a "mistake" and said the campaign is seeking guidance from federal regulators on how to update the old reports. Cruz learned he should have disclosed the loans from a New York Times reporter, who published a story on the matter late Wednesday. The Times described the loans as totaling as much as $1 million from Goldman and Citibank and said they were paid down in late 2012.

Powerball jackpot hits $1.5 billion

DES MOINES, Iowa -- The estimated Powerball jackpot was holding steady at $1.5 billion hours ahead of Wednesday night's drawing, although same-day ticket sales could push the record amount higher. Lottery officials said 85.8 percent of possible number combinations had been selected by midday, increasing the chances someone would win the world's largest lottery jackpot. But the odds of winning still are extraordinarily slim, at 1 in 292.2 million. If someone matches all the winning numbers, the jackpot would be paid in annual payments over 29 years, or the winner could opt for a lump-sum payment of $930 million. Winners have to pay 39.6 percent of the prize in federal income taxes, in addition to state taxes. If no one wins Wednesday, the estimated jackpot for Saturday's drawing would increase to $2 billion, or a lump-sum value of $1.24 billion before taxes, according to Kelly Cripe of the Texas Lottery, which manages the multistate Powerball game.

French avalanche kills 3, injures 3

PARIS -- An avalanche hit a high-school group skiing in the French Alps on Wednesday, killing two students and a Ukrainian skier and seriously injuring three others, officials said. French President Francois Hollande said mountain emergency services with sniffer dogs and a helicopter were engaged in a rescue at the Deux Alpes ski resort, 20 miles southeast of Grenoble. Officials said the avalanche hit 10 students and a teacher from the Lycee St. Exupery school in Lyon. Local officials did not give information on the number of missing but said 60 workers had been mobilized in the search-and-rescue, which was hampered by darkness and a danger of more avalanches. An official said the avalanche occurred after several groups of skiers dislodged a large snow slab. The area had been closed before the accident amid high avalanche warnings, and it's unclear why the group ventured onto the ski trail.

-- From wire reports