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Uber’s Kalanick, directors win dismissal of investor lawsuit

FILE PHOTO: Former Uber Chief Executive Officer Travis Kalanick leaves a federal court in San Francisco
FILE PHOTO: Former Uber Chief Executive Officer Travis Kalanick leaves a federal court during a Waymo-Uber autonomous car secrets trial in San Francisco, California, U.S. February 6, 2018 in a still image from video. Picture taken February 6, 2018. REUTERS/Jane Ross

April 1, 2019

By Tom Hals

WILMINGTON, Del. (Reuters) – Travis Kalanick, the co-founder of ride-hailing company Uber, and the company’s directors won the dismissal of an investor lawsuit that sought to hold them liable for a fight over trade secrets that slowed Uber’s push into autonomous vehicles.

The lawsuit by California investor Lenza McElrath sought to pin damages on Kalanick and board members for the cost of its high-profile battle with Google’s parent company Alphabet Inc, which accused Uber of stealing self-driving technology.

The ruling on Monday by Delaware Vice Chancellor Sam Glasscock dismissing the lawsuit closes a difficult chapter for Uber, which paid $245 million to Alphabet in February 2018 to settle their trade secrets fight.

Uber is scheduled for an IPO this month. Its rival Lyft Inc made a soaring stock market debut last week, opening with a share price of $87.24 but it was down 10 percent on Monday.

Michael Barry, a lawyer with Grant & Eisenhofer in Wilmington who represented McElrath, declined to comment.

An Uber spokesman said the company was “pleased with the court’s decision to dismiss this meritless complaint.”

The decision can be appealed to the Delaware Supreme Court.

The dismissed lawsuit accused Kalanick and Uber’s directors of breaching their fiduciary duties to investors by approving Uber’s $680 million deal in 2016 for Ottomotto LLC. The self-driving trucking company was founded and staffed by former employees of Waymo, which is owned by Alphabet.

Uber struck the deal shortly after Otto founder Anthony Levandowski resigned from Waymo.

Just months after the deal closed, Waymo sued Uber in federal court over allegations that Levandowski brought with him thousands of secret files.

The Waymo fight set back Uber’s self-driving development and led to the shuttering of its autonomous trucking efforts.

The lawsuit said the Uber board ignored intellectual property risks from the Otto deal and should have been more skeptical of Kalanick’s judgment.

The Court of Chancery judge, however, said there was no evidence that the board simply rubberstamped a deal.

A due diligence report on the deal had been prepared but directors did not review it in full before the board gave its initial approval, and the board had some discussion of potential legal liability from acquiring Otto.

“Their decision ultimately damaged Uber,” wrote Glasscock. “Nonetheless, a failure to follow best practices is not necessarily a breach of fiduciary duty.”

(Reporting by Tom Hals in Wilmington, Delaware; additional reporting by Heather Somerville in San Francisco; Editing by Noeleen Walder and Bill Trott)

Source: OANN

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2020 Dem Presidential Hopeful’s Dad Was a Marxist Professor

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Anti-Roma protests take place in Bulgarian city of Gabrovo

Protests against the Roma community have taken place in the northern Bulgarian city of Gabrovo, sparked by an alleged attack by Roma men on a shopkeeper.

Nine people were arrested and three reported injured Thursday evening during the latest clashes between protesters and police.

Deputy Prime Minister Tomislav Donchev, a former Gabrovo mayor, visited the city to appeal for calm, but was booed by the crowd.

Some Roma parents are keeping their children out of school, fearing for their safety if they leave their neighborhood.

Donchev said ethnic tensions in Gabrovo have existed for years. A decision was made recently to demolish derelict houses, often used illegally by Roma.

Roma, or Gypsies, make up around 5-9% of Bulgaria's population of 7 million and are among the most disadvantaged groups in the country.

Source: Fox News World

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Pakistani villagers shaken awake as Indian warplanes drop bombs near madrasa

General view of a site after the Indian military aircrafts released payload in Balakot
General view of a site after the Indian military aircrafts released payload in Balakot, Pakistan February 26, 2019. Inter Service Public Relation (ISPR)/Handout via REUTERS.

February 26, 2019

By Abu Arqam Naqash and Asif Shahzad

BALAKOT, Pakistan (Reuters) – Villagers near the town of Balakot in northeast Pakistan were shaken out of their sleep by what seemed like an earthquake in the early hours of Tuesday, only discovering once dawn broke that there had been an Indian airstrike on their neighborhood.

Indian officials said the raid destroyed a training camp of Jaish-e- Mohammed, the militant group behind a suicide attack in Indian-controlled Kashmir that killed 40 members of a paramilitary police force on Feb. 14. India’s foreign secretary said “a very large number of JEM terrorists” had been eliminated in what was the first Indian air strike on Pakistani territory since 1971.

The villagers, however, said only one person was wounded in the attack and they knew of no fatalities.

A resident, who did not want to give his name, said there was a nearby madrasa run by Jaish, though most villagers were guarded talking about their militant neighbors.

“There is this madrasa on the hilltop. The Jaish-e-Mohammed runs it,” he said.

Another person, who also declined to give his name said the militants had had a presence in the area for years.

“I belong to that area. I know for sure that there has been a training camp. It used to be there. I know Jaish people ran it,” he said.

“This camp was turned into a madrasa several years ago, but no one would still be allowed to get close to this infrastructure. There are scores of students in the madrasa at any given time,” he said.

Set in a wooded, hilly area in Khyber Pakhtunkhwa province on the way to the scenic Kaghan valley, some 40 kilometers from the de facto border with India, Balakot was of many towns that was devastated by as massive earthquake in 2005.

From what villagers could see, the Indian attack had missed its target as the bombs dropped exploded about a kilometer away from the madrasa.

Mohammad Ajmal, a 25 year-old villager near Jaba Top, where the attack took place, said he had heard four loud bangs in succession just before 3.00 a.m. (2200 GMT).

“We couldn’t tell what had happened. It was only in the morning that we figured out it was an attack,” he told Reuters after visiting the site, in a wooded hilltop area.

“We saw fallen trees and one damaged house, and four craters where the bombs had fallen.”

Fida Hussain Shah, a 46 year-old farmer, said he and other villagers had found pieces of Indian ordnance that had splintered pine trees on the hill but the only casualty was a man sleeping in his house when shrapnel broke the windows.

(Additional reporting by Jibran Ahmad in PESHAWAR; writing by James Mackenzie; Editing Cameron-Moore)

Source: OANN

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Exclusive: Standard Chartered expected to pay just over $1 billion to resolve U.S., U.K. probes

FILE PHOTO - People pass by the logo of Standard Chartered plc at the SIBOS banking and financial conference in Toronto
FILE PHOTO - People pass by the logo of Standard Chartered plc at the SIBOS banking and financial conference in Toronto, Ontario, Canada October 19, 2017. REUTERS/Chris Helgren/File Photo

April 8, 2019

(Reuters) – London-based Standard Chartered is expected to pay slightly more than $1 billion to resolve a nearly five-year-old investigation of potential U.S. sanctions violations tied to its banking for Iran-controlled entities in Dubai, as well as a related U.K. probe, according to a person familiar with the matter.

Authorities are aiming for the bank to settle on Tuesday morning, two sources said.

Standard Chartered has been operating under deferred prosecution agreements with U.S. authorities since 2012, when it paid $667 million for illegally moving millions of dollars through the U.S. financial system on behalf of customers in Iran, Sudan, Libya and Burma.   

The agreement has been extended numerous times, the last one extended for 10 days and set to expire on Wednesday.

The expected total payout also covers a roughly $134 million penalty from Britain’s Financial Conduct Authority related to historical financial crime controls.

A spokeswoman for Standard Chartered declined to comment.

The U.S. Department of Justice, the U.S. Attorney’s office in Washington, the Federal Reserve, the Manhattan District Attorney and the New York Department of Financial Services also declined to comment. The FCA also declined to comment.

The latest U.S. investigation stems in part from evidence found during a probe of French bank BNP Paribas, which paid a record $8.9 billion in penalties and pleaded guilty in 2014 to sanctions-related charges, people familiar with the matter have told Reuters.

Investigators found BNP had done business with a Dubai-registered corporation that acted as a front for an Iranian entity, a person familiar with the matter told Reuters in 2014. Investigators said the company also once had an account with Standard Chartered, the person said.

Standard Chartered said in February it had set aside $900 million related to the potential resolution of violations of U.S. sanctions and foreign exchange trading. That sum also included the FCA penalty.

A resolution of the FCA probe is expected the same time as the U.S. settlements.

Other banks to settle with U.S. authorities over sanctions-related misconduct over the past decade included Societe Generale, Credit Suisse, Lloyds, Barclays and HSBC.

(Reporting by Karen Freifeld; Editing by Dan Grebler)

Source: OANN

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Thousands of Jordanians join annual protest against Israel

Thousands of Jordanians have protested against the U.S. decision to recognize Israeli sovereignty over the Golan Heights and against the escalation of hostilities between Israel and Hamas in Gaza.

Three thousand demonstrators poured through the streets of Jordan's capital, holding anti-Israel signs and chanting slogans in support of Hamas and against Israeli control of east Jerusalem, which Palestinians seek as their capital for a future state.

Protesters also called for the protection of Al-Aqsa mosque, a flashpoint Jerusalem holy site under Jordanian custodianship.

The march was organized by the Muslim Brotherhood movement and other parties opposed to Jordan's 1994 peace treaty with Israel.

The annual protest, known as Land Day, commemorates events in March 1976 when Israel seized land from northern Arab villages, leading to the killing of six Palestinians.

Source: Fox News World

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Sanders unloads on Trump at Sharpton conference, says he’s racist and ‘that is the damn truth’

In some of his sharpest language yet attacking President Trump, Democratic presidential candidate Sen. Bernie Sanders accused the Republican president of being racist and sexist and much more during a speech before Al Sharpton's National Action Network.

“It gives me no pleasure to tell you that we have a president today who is a racist, who is a sexist, who is a homophobe, who is a xenophobe, and who is a religious bigot. I wish I did not have to say that. But that is the damn truth,” the independent senator from Vermont said on Friday.

SCHULTZ, AT FOX NEWS TOWN HALL, SAYS TRUMP WILL WIN RE-ELECTION IF SANDERS IS 2020 DEM NOMINEE

Sanders, who’s running for a second straight time for the Democratic presidential nomination, made his comments during an appearance in New York before the civil rights organization founded by Sharpton. A slew of other 2020 candidates joined him at the conference.

“During Donald Trump’s presidency we have seen a sharp rise in hate crimes and that rise comes as this country continues to be plagued by institutional racism and racial inequality,” Sanders stressed.

BERNIE'S BIG BUCKS - SANDERS HAULS IN $18 MILLION

Running through a litany of differences between himself and the president, Sanders argued that “when Trump and his real estate empire were discriminating against African Americans here in New York, I and others in the civil rights movement were protesting that kind of housing discrimination in Chicago and marching on Washington with Dr. (Martin Luther) King.”

And he charged that “when Donald Trump and his allies were trying to suppress the black vote in the 2016 election, I was running around this country campaigning for Hillary Clinton and pressing for automatic voter registration to expand the vote.”

SANDERS, CASTRO, TRADE FIRE OVER REPARATIONS

At the end of his appearance, Sanders voiced support for studying the possibility of reparations for descendants of slaves.

Asked if he as president he would sign into law a bill currently in the House of Representatives that would study and consider reparation payments, Sanders answered, “of course I would sign it.”

“There needs to be a study,” he added.

But Sanders quickly highlighted that “what I think we need to do… is to pay real attention to the most distressed communities in America. We’ve got to use ten percent of all federal funds to make sure that kids who need it get the education, get the jobs, get the environmental protection that they need.

2020 CONTENDERS WEIGH IN ON SLAVERY REPARATIONS

Sanders rejected the idea of financial reparations during his 2016 White House bid, and last month again pushed back against the proposal.

“I think that right now, our job is to address the crises facing the American people and our communities, and I think there are better ways to do that than just writing out a check,” Sanders said during an appearance on “The View.”

The idea of slavery reparations for black Americans is at least partially backed by at least seven other Democratic presidential candidates so far – Harris, Sen. Elizabeth Warren of Massachusetts, Beto O’Rourke, former San Antonio Mayor Julian Castro, South Bend, Indiana Mayor Pete Buttigieg, businessman Andrew Yang, and Rep. Tulsi Gabbard of Hawaii, who has co-sponsored the House bill.

Source: Fox News Politics

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Hundreds of Cuban migrants are reported to be on the run Friday in Mexico after a crowd of more than 1,000 burst out of a troubled immigration detention center on its southern border.

Mexico’s National Immigration Institute said the mass escape Thursday in Tapachula – which the Associated Press called the largest in recent memory — involved around 1,300 Cuban migrants, although 700 of them have since returned voluntarily.

The migrants reportedly streamed out of the compound without any resistance, as the institute said its agents weren’t armed and “there was no confrontation.”

Federal police with riot shields later rushed in to control the situation, as a crowd of angry Cubans whose relatives were being held at the facility gathered outside. The Cubans claimed their relatives reported overcrowding and unsanitary conditions at the facility.

A Federal Police officer stands guard outside an immigration detention center in Tapachula, Chiapas state, Mexico, late Thursday, following a breakout.

A Federal Police officer stands guard outside an immigration detention center in Tapachula, Chiapas state, Mexico, late Thursday, following a breakout. (AP)

BORDER PATROL UNION CHIEF BLASTS CONGRESS OVER MIGRANT CARAVANS: ‘WHAT ARE YOU DOING ABOUT IT’?

“My wife and child have been in there for 27 days in bad conditions,” said Usmoni Velazquez Vallejo, as he waited outside for news. “There is overcrowding, insufficient food and there isn’t even medicine for them.”

Another Cuban detainee told the AFP: “We have many there… we are very tight, we sleep on the floor.”

It’s the third time since October that migrants at the facility staged an uprising, according to the news agency.

The center’s holding capacity is officially listed at less than 1,000 people, but the escape of 1,300 meant it was probably at least at double its capacity, since not everyone being held there escaped. Residents in the area said that sometimes the facility has held as many as 3,000 people, and a Mexican newspaper cited by Reuters said Haitians and Central Americans also are among the large group who still have not been tracked down.

Migrants wait for their transfer from an immigration detention center in Tapachula, Chiapas state, Mexico, on Thursday.

Migrants wait for their transfer from an immigration detention center in Tapachula, Chiapas state, Mexico, on Thursday. (AP)

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Earlier in the day, Mexico’s top human rights official toured the facility.

Elsewhere in the country, a new caravan estimated to contain up to 10,000 migrants is making its way to the U.S.-Mexico border.

The Associated Press contributed to this report.

Source: Fox News World

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Logo of the Exxon Mobil Corp is seen at the Rio Oil and Gas Expo and Conference in Rio de Janeiro
FILE PHOTO: A logo of the Exxon Mobil Corp is seen at the Rio Oil and Gas Expo and Conference in Rio de Janeiro, Brazil September 24, 2018. REUTERS/Sergio Moraes

April 26, 2019

(Reuters) – Exxon Mobil Corp on Friday reported first-quarter profit fell sharply on lower oil and gas prices and weakness in its refining and chemicals businesses that offset modest production gains.

The largest U.S. oil producer’s first quarter earnings fell to $2.35 billion, or 55 cents a share, from $4.65 billion, or $1.09 a share, a year ago.

Analysts had expected Exxon to earn 70 cents per share, according to Refinitiv Eikon estimates.

Shares were trading down about 2.7 percent in premarket trading on Friday.

Exxon’s oil equivalent production rose 2 percent to 4 million barrels per day, up from 3.9 million bpd in the same period the year prior. The company said its output in the Permian Basin, the largest U.S. shale basin, rose 140 percent over a year ago.

(Reporting by Jennifer Hiller; Editing by Chizu Nomiyama)

Source: OANN

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The Washington Post’s media critic went into meltdown after White House Press Secretary Sarah Sanders held a mock press briefing for the children of White House journalists and employees on Take Your Daughters and Sons to Work Day.

Erik Wemple, the newspaper’s chief media critic, slammed Sanders and the White House for organizing a fun day on Thursday for junior would-be journalists, while not holding an actual press conference for the record number of days.

WHITE HOUSE STAFF TO SKIP CORRESPONDENTS’ DINNER AFTER LAST YEAR’S CONTROVERSY

Wemple wrote that Sanders gave to children an important lesson of “the centrality of nonaccountability mechanisms in the affairs of state” after she announced that the mock press briefing was “off the record.”

“When the children head home tonight, perhaps they can pull up archival footage to see how their questions stack up against ye olde press briefings,” he added.

“Accordingly, Sanders was doing more than just providing a fun interlude for the kids; she was headlining a reenactment, anchoring a bona fide historical site.”

— Erik Wemple

“Tuesday, after all, marked a record for number of days without a White House press briefing. Accordingly, Sanders was doing more than just providing a fun interlude for the kids; she was headlining a reenactment, anchoring a bona fide historical site.”

While some correspondents praised the White House for doing “a lot of work to welcome the children and provide “them an excellent experience,” other journalists echoed Wemple’s criticism and pointed out that Sanders hasn’t held a press briefing in over 40 days.

“Kids of WH Press Corps members are getting ready for a briefing with  @PressSec. Their parents have not had one in 45 days,” tweeted CBS News’ White House Correspondent Weijia Jiang.

REPORTER SHOUTS AT SARAH SANDERS AFTER BRIEFING: ‘DO YOUR JOB, SARAH!’

“The irony of it is that they’re pretending that the White House press briefing is a thing, and they’re pretending that this is how the White House operates, but this is not at all how the White House operates … It’s a relic of an earlier time,” another correspondent quoted by the Post said.

“The irony of it is that they’re pretending that the White House press briefing is a thing, and they’re pretending that this is how the White House operates, but this is not at all how the White House operates … It’s a relic of an earlier time.”

— a White HOuse Correspondent

The Post struck a different tune in a column earlier this year, which declared that despite the administration’s criticism of the media, President Trump was “extremely accessible.”

Wemple quoted Martha Joynt Kumar, director of the White House Transition Project, who said that Trump held 338 “short question-and-answer” sessions over his time in office, significantly more than 75 such sessions by former President Barack Obama during his first full two years in office.

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In terms of total instances of access to the media, which include interviews, short sessions, and news conferences, Trump was accessible least 577 times in his first two years in office.

Source: Fox News Politics

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The U.S. economy grew at a solid 3.2% annual rate in the first three months of the year, a far better outcome than expected, overcoming a host of headwinds including global weakness, rising trade tensions and a partial government shutdown.

The advance in the gross domestic product, the broadest measure of economic health, marks an acceleration from a 2.2% gain in the previous October-December period. However, about half the gain reflected two factors not expected to last — a big jump stockpiling by businesses and a sharp contraction in the trade deficit.

Still, the GDP gain surpassed the 3% bar set by President Donald Trump as evidence his economic program is working. Trump is counting on a strong economy as he campaigns for re-election.

Source: Fox News National

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A Baha’i advocacy group has expressed concerns over the fate of minority Baha’is at the hands of Yemen’s Houthi rebels ahead of the appeals hearing for one of the community leaders sentenced to death.

The Baha’i International Community said in a statement Friday that the hearing for Hamed bin Haydara, detained in 2013 and sentenced to death last year on espionage and apostasy charges, is due on Tuesday.

The statement quotes Bani Dugal, the Baha’i community representative at the United Nations, as saying the prosecution hasn’t addressed Haydara’s appeal but is instead making “absurd, wide-ranging accusations.”

International rights groups have decried the prosecution of Yemeni Baha’is by the Iran-backed Houthis.

Iran has banned the Baha’i religion, which was founded in 1844 by a Persian nobleman considered a prophet by followers.

Source: Fox News World

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