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Dems Blaming Trump’s Immigration Policies on White House Advisor Stephen Miller

A growing number of House Democrats are targeting White House senior adviser Stephen Miller and his influence on the Trump administration’s immigration agenda.

“Steve Miller, who seems to be the boss of everybody on immigration, ought to come before Congress and explain some of these policies,” House Judiciary Committee Chairman Jerrold Nadler said Sunday, according to The Washington Post. Nadler, whom President Donald Trump refers to as “fat Jerry,” is one of several House Democrats who have criticized the administration’s latest immigration proposal.

The White House, on more than one occasion, pushed the Department of Homeland Security on an idea that consisted of bussing illegal immigrants and dropping them off in cities that refuse to work with Immigration and Customs Enforcement (ICE) — otherwise known as “sanctuary cities.” Miller reportedly pitched the proposal.

The firestorm that followed reports of the proposal has generated more focus on Miller, a close Trump confidant since the 2016 election. The California native has been behind a number of the president’s most notable immigration policies, such as the U.S.-Mexico border wall, the travel ban against numerous Muslim-majority countries and the “zero tolerance policy.”


White House senior advisor Stephen Miller shines light on the need for border security.

House Democrats might call on Miller to testify in a House committee.

Kathleen Rice, the chairwoman of the House Homeland Security subcommittee on border security, facilities and operations, argues the senior adviser must appear at her panel to “make his case for these terrible policies to the American people instead of being this shadow puppeteer.”

“It’s clear that he’s the one pulling the strings,” Rice, a Democratic representative from New York, said. “And if he’s going to continue advocating for these policies and personnel changes, then he needs to come before the American people and explain himself. He has to be held accountable.”

(Photo by Sgt. Gordon Hyde / Wiki)

However, it’s not certain that committee chairmen in the Democratic-controlled House can force Miller to the microphone.

Lawmakers do not typically call on White House advisers to testify before Congress, and presidents are able to cite constitutional separation of powers when declining to allow their executives be made available to committees.


While speaking at a campaign rally in Pennsylvania, Bernie Sanders attempted to smear the President by accusing him of betraying the working class in America. Alex exposes this fake news from the left.

Source: InfoWars

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Daimler to add new compact SUV to lineup this year: CEO

Daimler AG's annual news conference in Stuttgart
FILE PHOTO: Daimler AG CEO Dieter Zetsche speaks at the company's annual news conference in Stuttgart, Germany, February 6, 2019. REUTERS/Michael Dalder

April 15, 2019

(Reuters) – Daimler AG Chief Executive Officer Dieter Zetsche said the German automaker would add a new compact SUV to its lineup later this year.

Zetsche at an event in Shanghai on Monday unveiled what he called a concept for a compact Mercedes GLB with seating for seven and rugged off-road tires.

Zetsche said the GLB would not remain a concept for long, and promised the unveiling of a production version by this summer.

In China, Mercedes has declared 2019 the “year of the SUV”, reflecting the growing popularity of such vehicles in the world’s largest car market.

(Reporting by Joseph White in Shanghai; Editing by Shounak Dasgupta)

Source: OANN

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Sudan officials: Ousted president moved to Khartoum prison

A Sudanese official and a former minister say the military has transferred ousted President Omar al-Bashir to a prison in the capital, Khartoum.

They say al-Bashir was moved from a "safe place" — the presidential residence inside the military headquarters — where he was held since his ouster, to Kopar Prison.

The two spoke on condition of anonymity Wednesday because they weren't authorized to talk to reporters.

Organizers of the street protests had demanded the military move al-Bashir to an official prison.

Sudan's military last week ousted al-Bashir following months of street protests against his 30-year rule, then appointed a military council it says would rule for no more than two years while elections are organized.

The military has said it wouldn't extradite al-Bashir to the International Criminal Court.

Source: Fox News World

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Death toll from central Mali massacre up to 134, says UN

The United Nations says the toll from a massacre in central Mali is now at least 134 dead with dozens wounded.

François Delattre, the president of the U.N. Security Council who spoke in Mali's capital on Saturday, condemned the massacre as an "unspeakable attack."

Witnesses say that member of an ethnic Dogon militia already blamed for scores of attacks in the past year descended upon the village of Ogossogou before dawn Saturday.

Graphic video provided to The Associated Press hours after the attack shows bodies sprawled out on the earth next to huts still burning.

Members of the greater Peuhl community who were in contact with survivors said that the victims included the village chief and his grandchildren.

Source: Fox News World

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Church should acknowledge male authoritarianism, abuse of women: Pope

Pope Francis addresses reporters aboard the plane bringing him back following a two-day trip to Morocco
Pope Francis looks on as he addresses reporters aboard the plane bringing him back following a two-day trip to Morocco March 31, 2019. Alberto Pizzoli/Pool via REUTERS

April 2, 2019

VATICAN CITY (Reuters) – Pope Francis, addressing sexual abuse scandals and calls for women priests, said on Tuesday that for its own good the Roman Catholic Church had to acknowledge its history of male authoritarianism and sexual abuse of women.

But he also said in a major document that the church “could not agree with everything some feminist groups propose,” a clear reference to the Church’s ban on a female priesthood.

The pope is grappling with criticism over the Church’s response to a decades-long sexual abuse crisis that has gravely damaged its standing around the globe.

Francis made his comment in a 50-page document known as an “Apostolic Exhortation,” his reflections on the workings of a month-long meeting of bishops that took place last October on the role of young people in the 1.3 billion-member Church.

In the document, called “Christ is Alive,” Francis also urged young people not to be disillusioned by the Church’s clergy sexual abuse scandal but to work with the overwhelming majority of priests and other members of the clergy who were faithful to their vocation.

(Reporting By Philip Pullella, Editing by William Maclean)

Source: OANN

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Japan’s Heisei era: Changes, growth and tragedies

FILE PHOTO: Japan's Emperor Akihito, accompanied by Empress Michiko, waves to well-wishers before leaving Ujiyamada Station after their visit to Ise Jingu shrine in Ise, Japan
FILE PHOTO: Japan's Emperor Akihito, accompanied by Empress Michiko, waves to well-wishers before leaving Ujiyamada Station after their visit to Ise Jingu shrine in Ise in the central Japanese prefecture of Mie, April 18, 2019, as he takes part in a series of rituals ahead of his abdication. Kazuhiro Nogi/Pool via REUTERS

April 24, 2019

By Linda Sieg

TOKYO (Reuters) – Japanese Emperor Akihito’s abdication on April 30 will end the three-decade Heisei era that began on Jan. 8, 1989, one day after he inherited the throne upon the death of his father, Hirohito.

Below are key events and changes during his reign.

BURST BUBBLE, LOST DECADES

Japan’s “bubble economy” of soaring asset prices was in its final stages when Akihito ascended the throne. The Nikkei share average hit a record high of 38,957.44 on Dec. 29, 1989, but began to slide in 1990. Land prices followed.

The bursting of the bubble triggered financial failures, including the November 1997 collapse of “Big Four” brokerage Yamaichi Securities. It also ushered in what came to be known as the lost decades of economic stagnation.

Japan, which had been the world’s second-largest economy after the United States, was overtaken by China in 2010.

Prime Minister Shinzo Abe took office in December 2012 promising to revive the economy with an “Abenomics” recipe that included a hyper-easy monetary policy, ushering in expansion but leaving doubts about the sustainability of growth.

AGING, SHRINKING POPULATION

Demographers had forecast Japan’s population decline even before Akihito took the throne. That decline became a reality when the population hit a peak of about 128 million in 2010.

The population was 126.4 million in October and the decline would have been bigger without an increase in foreign residents.

Data released in April showed the percentage of those aged 65 and over was 28.1 percent; the working age population fell to just under 60 percent.

A historic labor shortage pushed Japan to enact a new visa system that took effect this month, allowing in more blue-collar workers despite concerns among conservatives about a threat to social stability.

DISASTERS

Japan suffered several disasters – natural and manmade – during the Heisei era.

A magnitude 7.3 earthquake hit central Japan on Jan. 15, 1995, devastating the western port of Kobe and killing more than 6,400 people.

Just over two months later, members of the Aum Shinrikyo cult carried out a sarin nerve agent attack on the Tokyo subway on March 20, 1995, killing 13 people, injuring at least 5,800 and shattering the country’s myth of public safety.

A magnitude 9.0 earthquake hit northeast Japan on March 11, 2011, triggering a tsunami that killed nearly 20,000 people and caused meltdowns at the Fukushima Daiichi nuclear plant. Many people are still in temporary housing.

ELASTIC PACIFISM

In 1991, Japan, constrained by its pacifist post-war constitution, sent cash but no troops for the first Gulf War.

Stung by criticism of the move as “chequebook diplomacy”, governments stretched the limits of the constitution, dispatching troops to Iraq on a reconstruction mission in 2004 and enacting legislation in 2015 that would allow its military to fight abroad for the first time since 1945.

Japan has increased military outlays under Abe to counter a Chinese military buildup, and now spends about what Britain does on defense.

Abe wants to revise the pacifist constitution to clarify the military’s ambiguous status, but the public remains divided.

REVOLVING-DOOR PREMIERS

Japan was bedevilled for much of the era by a string of “revolving door” prime ministers, including Noboru Takeshita, who quit in June 1989 over a shares-for-favors scandal.

Seventeen prime ministers served – including Abe twice – with only maverick Junichiro Koizumi (2001-2006) and Abe in his current term showing staying power.

The long-ruling conservative Liberal Democratic Party (LDP) was briefly ousted in 1993 but returned in an alliance with Socialists the next year.

In 2009, the LDP was toppled again by the Democratic Party of Japan, whose rocky rule under three premiers ended when Abe led the LDP back to power in 2012.

CULTURE

In the 1990s, Japanese pop culture – in the form of anime and manga – swept the wider world with “Dragon Ball Z” and “Pokemon” leading the way. By the end of the Heisei era, many manga were translated into multiple foreign languages.

Among the giants was director Hayao Miyazaki and his Studio Ghibli, whose “Spirited Away” won a 2003 Academy Award.

Foreign fans also joined their Japanese counterparts in “cosplay”, short for “costume play”, dressing up as their favorite anime characters.

(Reporting and writing by Linda Sieg. Editing by Malcolm Foster and Gerry Doyle)

Source: OANN

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Pakistan announces release of 360 Indian fishermen

Pakistan's Foreign Ministry says officials will release 360 Indian prisoners detained for fishing illegally in the country's territorial waters in the Arabian sea.

Mohammad Faisal, ministry spokesman, said Friday the anglers will be freed in four batches starting April 15.

Pakistani and Indian maritime agencies frequently arrest each other's fishermen on charges of illegal fishing. The detainees often languish in prison until such goodwill gestures are shown from either side.

Friday's announcement comes days after Pakistani and Indian soldiers traded fire in the disputed Himalayan region of Kashmir, killing seven Pakistanis and three Indians. Both sides blamed each other for violating a cease-fire in the region, which is split between them and claimed by both in its entirety.

Source: Fox News World

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FILE PHOTO - A worker sits on a ship carrying containers at Mundra Port in the western Indian state of Gujarat
FILE PHOTO: A worker sits on a ship carrying containers at Mundra Port in the western Indian state of Gujarat April 1, 2014. REUTERS/Amit Dave/File Photo

April 26, 2019

(Reuters) – India has once again delayed the implementation of higher tariffs on some goods imported from the United States to May 15, a government official said on Friday.

The new tariff structure was to come into force from May 2, the spokeswoman said without citing reasons for the delay.

Angered by Washington’s refusal to exempt it from new steel and aluminum tariffs, New Delhi decided in June last year to raise the import tax from Aug. 4 on some U.S. products including almonds, walnuts and apples.

But since then, New Delhi has repeatedly delayed the implementation of the new tariff.

Trade friction between India and the U.S. has escalated after U.S. President Donald Trump announced plans earlier this year to end preferential trade treatment for India that allows duty-free entry for up to $5.6 billion worth of its exports to the United States.

In a further blow, U.S. on Monday demanded buyers of Iranian oil stop purchases by May or face sanctions, ending six months of waivers which allowed Iran’s eight biggest buyers including India to continue importing limited volumes.

(Reporting by Manoj Kumar in New Delhi and Kanishka Singh in Bengaluru; Editing by Anil D’Silva and Raissa Kasolowsky)

Source: OANN

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One of Joe Biden’s newly-hired senior advisers has seemingly had a very recent change of heart.

Symone Sanders, a prominent Democratic strategist and Sen. Bernie Sanders, I-Vt., staffer in 2016, was announced as one of the big-name members of Team Biden on Thursday.

But Sanders, who has also served as a CNN contributor, is seen in resurfaced footage from November 2016 expressing her opposition to a white person leading her party after Donald Trump’s election.

“In my opinion, we don’t need white people leading the Democratic party right now,” Sanders told host Brianna Keilar during a discussion on Howard Dean potentially becoming DNC chairman.

BIDEN HIRES FORMER BERNIE SANDERS’ SPOKESPERSON AS SENIOR ADVISER

“The Democratic party is diverse, and it should be reflected as so in leadership and throughout the staff, at the highest levels. From the vice chairs to the secretaries all the way down to the people working in the offices at the DNC,” she said.

Sanders wrapped up her remarks by saying: “I want to hear more from everybody. I want to hear from the millennials and the brown folks.”

Footage of the interview was resurfaced by RealClearPolitics.

After news of her hiring broke on Thursday, Sanders backed her new boss on Twitter.

TRUMP ASSESSES 2020 DEMS; TAKES SWIPES AT BIDEN, SANDERS; DISMISSES HARRIS, O’ROURKE; SAYS HE’S ROOTING FOR BUTTIGIEG

“@JoeBiden & @DrBiden are a class act. Over the course of this campaign, Vice President Biden is going to make his case to the American ppl. He won’t always be perfect, but I believe he will get it right,” she wrote.

The hiring of Sanders has been viewed as another indication of the expected tough fight that Biden and Sanders are in for as the two frontrunners battle a deep Democratic field.

While Sanders himself didn’t torch Biden as he jumped into the race, it’s clear that many of his progressive supporters view the former vice president as a threat.

Biden’s entry into the race – at least in the early going – sets up a battle between himself and Sanders, who thanks to his fierce fight with eventual nominee Hillary Clinton for the 2016 Democratic nomination, enjoys name ID on the level of the former vice president.

BIDEN VOWS THAT ‘AMERICA IS COMING BACK,’ SPARKING ‘MAGA’ COMPARISONS

Justice Democrats — who also called Biden “out-of-touch” – is an increasingly influential group among the left of the party. They’ve championed progressive Rep. Alexandria Ocasio-Cortez of New York as well as Sanders. The group was founded by members of Sanders 2016 presidential campaign.

Biden has pushed back against the perception that he’s a moderate in a party that’s increasingly moving to the left. Earlier this month he described himself as an “Obama-Biden Democrat.”

And Biden said he’d stack his record against “anybody who has run or who is running now or who will run.”

Former Democratic National Committee chair Donna Brazile – a Fox News contributor – highlighted that “Joe Biden can occupy his own lane in large part because he’s earned it. He’s earned the right to call himself whatever.”

CLICK HERE TO GET THE FOX NEWS APP

But she emphasized that “elections are not about the past, they’re about the future…I do believe he has the right ingredients. The question is can he find enough people to help him stir the pot.”

Fox News Andrew O’Reilly contributed to this report.

Source: Fox News Politics

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Baltimore Mayor Catherine Pugh, who is facing increased calls for her immediate resignation, remains in poor health and is not “lucid” enough to decide whether to step down, her attorney told reporters late Thursday.

Steve Silverman, speaking outside one of Pugh’s residences which was raided by the FBI and IRS earlier in the day, said the embattled city leader could make a decision as early as next week.

“She is leaning toward making the best decision in the best interest in the citizens of Baltimore City,” he said, adding that Pugh has “several options” to consider.

“She just needs to be physically and mentally sound and lucid enough to make appropriate decisions.”

BALTIMORE MAYOR CATHERINE PUGH, ON LEAVE AMID BOOK PROBE, HAS HOMES AND CITY HALL OFFICE RAIDED BY FEDS

Silverman said Pugh met with a doctor at home Thursday and plans to do so again Friday, the Baltimore Sun reported.

In the latest image-tarnishing scandal for struggling Baltimore, the first-term Democratic mayor faces accusations that she used children’s book deals to cover up kickbacks for favorable treatment as a state lawmaker and city leader that earned her roughly $800,000 over several years.

BALTIMORE’S ACTING MAYOR SAYS HE ‘WOULD HATE TO SEE’ EMBATTLED MAYOR RETURN AFTER BOOK SCANDALS

As a state senator, 69-year-old Pugh sold $500,000 worth of her self-published “Healthy Holly” illustrated paperbacks to the University of Maryland Medical System, a major state employer whose board she sat on for nearly 20 years.

Baltimore police officers stand outside the house of Baltimore Mayor Catherine Pugh in Baltimore, MD., Thursday, April 25, 2019. Agents with the FBI and IRS are gathering evidence inside the two homes of Pugh and also in City Hall. (AP Photo/Jose Luis Magana)

Baltimore police officers stand outside the house of Baltimore Mayor Catherine Pugh in Baltimore, MD., Thursday, April 25, 2019. Agents with the FBI and IRS are gathering evidence inside the two homes of Pugh and also in City Hall. (AP Photo/Jose Luis Magana)

UMMS reportedly paid Pugh for 100,000 copies of her books between 2011 and 2018 with the stated intention of distributing the books to schools and day care centers. But some 50,000 copies remain unaccounted for and officials are probing if they were even printed.

Pugh also made $300,000 in bulk sales to other customers including health carriers that did business with the city of Baltimore.

BALTIMORE CITY COUNCIL CALLS ON EMBATTLED MAYOR CATHERINE PUGH TO RESIGN IMMEDIATELY

The politically isolated Pugh slipped out of sight on April 1 after a hastily organized press conference where she called her no-contract book deals a “regrettable mistake.” That same day, Maryland’s governor called on the state prosecutor to investigate allegations of “self-dealing.”

Pugh took an indefinite leave of absence, citing her health deteriorating intensely after a bout with pneumonia.

Federal agents arrive at the Maryland Center for Adult Training in Baltimore. MD, Thursday, April 25, 2019. Agents with the FBI and IRS are gathering evidence inside the two homes of Baltimore Mayor Catherine Pugh and in City Hall, as well as the office of her lawyer and the home of a top aide.

Federal agents arrive at the Maryland Center for Adult Training in Baltimore. MD, Thursday, April 25, 2019. Agents with the FBI and IRS are gathering evidence inside the two homes of Baltimore Mayor Catherine Pugh and in City Hall, as well as the office of her lawyer and the home of a top aide. (Loyd Fox/Baltimore Sun via AP)

On Thursday morning, agents with the FBI and IRS searched her two Baltimore homes, her City Hall offices, and a nonprofit organization she once led. The home of at least one of Pugh’s aides was also scoured.

Silverman said federal agents also served a subpoena at his law firm, retrieving Pugh’s original financial records. They did not seek any attorney-client privileged communications, he said.

Pugh’s attorney said she was “emotionally extremely distraught” following the searches by FBI and IRS agents.

“There was nothing incriminating that came out of her home,” Silverman said.

UMMS spokesman Michael Schwartzberg told reporters that the medical system received a grand jury witness subpoena seeking documents and information related to Pugh.

Other probes against Pugh include a review by the city ethics board and the Maryland Insurance Administration.

BALTIMORE MAYOR’S $500G DEAL FOR ‘HEALTHY HOLLY’ CHILDREN’S BOOKS DRAWS SCRUTINY

In recent weeks, the calls for Pugh’s resignation have intensified with the strongest voice coming from Republican Gov. Larry Hogan, who did not mince words after Thursday’s early morning raids.

“Now more than ever, Baltimore City needs strong and responsible leadership. Mayor Pugh has lost the public trust,” he said. “She is clearly not fit to lead. For the good of the city, Mayor Pugh must resign.”

Federal Bureau of Investigation, and Internal Revenue Service agents search the home of Baltimore Mayor Catherine Pugh in Baltimore, MD., Thursday, April 25, 2019. Agents with the FBI and IRS are gathering evidence inside the two homes of Baltimore Mayor Catherine Pugh and in City Hall.

Federal Bureau of Investigation, and Internal Revenue Service agents search the home of Baltimore Mayor Catherine Pugh in Baltimore, MD., Thursday, April 25, 2019. Agents with the FBI and IRS are gathering evidence inside the two homes of Baltimore Mayor Catherine Pugh and in City Hall. (Jerry Jackson/Baltimore Sun via AP)

Many of her fellow Democrats, including those on Baltimore’s demoralized City Council and state lawmakers, are also insisting that Pugh put the citizens’ interests above any attempt to preserve her political career.

City Council member Brandon Scott called the Thursday raids “an embarrassment to the city.”

However, only a conviction can trigger a mayor’s removal from office, according to the city solicitor. Baltimore’s mayor-friendly City Charter currently provides no options for ousting its executive.

Six of Pugh’s staffers joined her on paid leave earlier this month; three of them were fired this week by the acting mayor.

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Pugh came to office in late 2016 after edging out ex-Mayor Sheila Dixon, who had spent much of her tenure fighting corruption charges before being forced to depart office in 2010 as part of a plea deal connected to the misappropriation of about $500 in gift cards meant for needy families.

She would certainly face a bruising 2020 Democratic primary if she were to return and run for reelection. Veteran City Council leader Bernard “Jack” Young, who is serving as acting mayor, said as she went on leave that he would merely be a placeholder. But this week, before the raids, he said “it could be devastating for her” if she tried to return.

The Associated Press contributed to this report.

Source: Fox News National

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FILE PHOTO: Cases of Pepsi are shown for sale at a store in Carlsbad
FILE PHOTO: Cases of Pepsi are shown for sale at a store in Carlsbad, California, U.S., April 22, 2017. REUTERS/Mike Blake/File Photo

April 26, 2019

By Amit Dave and Mayank Bhardwaj

AHMEDABAD/NEW DELHI (Reuters) – PepsiCo Inc has sued four Indian farmers for cultivating a potato variety that the snack food and drinks maker claims infringes its patent, the company and the growers said on Friday.

Pepsi has sued the farmers for cultivating the FC5 potato variety, exclusively grown for its popular Lay’s potato chips. The FC5 variety has a lower moisture content required to make snacks such as potato chips.

PepsiCo is seeking more than 10 million rupees ($142,840.82) each for alleged patent infringement.

The farmers grow potatoes in the western state of Gujarat, a leading producer of India’s most consumed vegetable.

“We have been growing potatoes for a long time and we didn’t face this problem ever, as we’ve mostly been using the seeds saved from one harvest to plant the next year’s crop,” said Bipin Patel, one of the four farmers sued by Pepsi.

Patel did not say how he came by the PepsiCo variety.

A court in Ahmedabad, the business hub of Gujarat, on Friday agreed to hear the case on June 12, said Anand Yagnik, the lawyer for the farmers.

“In this instance, we took judicial recourse against people who were illegally dealing in our registered variety,” A PepsiCo India spokesman said. “This was done to protect our rights and safeguard the larger interest of farmers that are engaged with us and who are using and benefiting from seeds of our registered variety.”

PepsiCo, which set up its first potato chips plant in India in 1989, supplies the FC5 potato variety to a group of farmers who in turn sell their produce to the company at a fixed price.

The All India Kisan Sabha, or All India Farmers’ Forum, has asked the Indian government to protect the farmers.

The farmers’ forum has also called for a boycott of PepsiCo’s Lay’s chips and the company’s other products.

The Ministry of Agriculture & Farmers’ Welfare did not immediately respond to an email seeking comment.

PepsiCo is the second major U.S. company in India to face issues over patent infringement.

Stung by a long-standing intellectual property dispute, seed maker Monsanto, which is now owned by German drugmaker Bayer AG, withdrew from some businesses in India over a cotton-seed dispute with farmers, Reuters reported in 2017. (reut.rs/2ncBknn)

(Reporting by Amit Dave in AHMEDABAD and Mayank Bhardwaj in NEW DELHI; Editing by Martin Howell and Louise Heavens)

Source: OANN

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FILE PHOTO: The Archer Daniels Midland Co (ADM) logo is displayed on a screen on the floor of the NYSE in New York
FILE PHOTO: The Archer Daniels Midland Co (ADM) logo is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., May 3, 2018. REUTERS/Brendan McDermid/File Photo

April 26, 2019

By P.J. Huffstutter and Shradha Singh

CHICAGO/BENGALURU (Reuters) – Archer Daniels Midland Co said on Friday it was considering spinning off its ethanol business after slim biofuel margins and Midwestern floods slammed the U.S. grains merchant’s profit, which tumbled 41 percent in the first quarter.

ADM said it was creating an ethanol subsidiary, which will include dry mills in Columbus, Nebraska; Cedar Rapids, Iowa; and Peoria, Illinois.

The ethanol subsidiary will report as an independent segment, the company said, allowing options “which may include, but are not limited to, a potential spin-off of the business to existing ADM shareholders.”

Results were hit by the “bomb cyclone” blizzards that devastated the Midwest and Great Plains this year, causing massive flooding across Nebraska, Iowa and Missouri, washing out rail lines and wreaking havoc in the moving and processing of corn, soybeans and wheat. One-sixth of U.S. ethanol production was halted.

In March, ADM warned Wall Street that flooding and severe winter weather in the U.S. Midwest would reduce its first-quarter operating profit by $50 million to $60 million.

“The first quarter proved more challenging than initially expected,” said Chairman and Chief Executive Officer Juan Luciano, with earnings down in its starches, sweeteners and bioproducts unit. Luciano said impacts of the severe weather ultimately “were on the high side of our initial estimates”.

Ongoing problems in the ethanol industry added to the problems and “limited margins and opportunities” for ADM, Luciano said.

The ethanol industry has been in the midst of a historic downswing due to the U.S.-China trade war, excess domestic supply and weak margins.

ADM, which had been an ethanol pioneer, signaled to Wall Street in 2016 that it was hunting for options and considering sales of its U.S. dry ethanol mills. Luciano told Reuters this year that offers ADM had received for the mills were too low.

In addition, ADM said it planned to repurpose its corn wet mill in Marshall, Minnesota, to produce higher volumes of food and industrial-grade starches.

Other major traders are alsy trying to distance themselves from struggling ethanol businesses. Louis Dreyfus Company BV spun off its Brazilian sugar and ethanol business Biosev in 2013. Rival Bunge sold its sugar book and has sought a buyer for its Brazilian mills since 2013.

ADM, which makes money trading, processing and transporting crops, such as corn, soybeans and wheat, has been looking to strengthen its core business. Last month it said it would seek voluntary early retirements of some North American employees and cut jobs as part of a restructuring effort.

The company expects to lower 2019 capital spending by 10 percent to between $800 million and $900 million.

Net earnings attributable to the company fell to $233 million, or 41 cents per share, in the three months ended March 31, from $393 million, or 70 cents per share, a year earlier.

Revenue fell to $15.30 billion from $15.53 billion. On an adjusted basis, the company earned 46 cents per share, while analysts on average had estimated 60 cents, according to IBES data from Refinitiv.

(Reporting by Shradha Singh in Bengaluru; Editing by Shounak Dasgupta, Chizu Nomiyama and David Gregorio)

Source: OANN

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