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Russia probe findings offer re-election weapon for Trump

U.S. President Donald Trump speaks to reporters as he returns to the White House in Washington
U.S. President Donald Trump speaks to reporters as the president returns from a weekend in Florida at the White House in Washington, U.S., March 24, 2019. REUTERS/Carlos Barria

March 25, 2019

By Steve Holland, Jeff Mason and Roberta Rampton

WASHINGTON (Reuters) – U.S. Special Counsel Robert Mueller’s conclusion that Donald Trump did not collude with Russia to win the presidency in 2016 gives the president a powerful weapon to use against his Democratic opponents and a potential boost to what is shaping up to be a tough bid for re-election in 2020.

Mueller’s conclusion that neither Trump nor his aides conspired with Russia in 2016 takes away a central charge that Democrats have flung at Trump for two years – that he did not win the presidency fairly or cleanly. The allegations have played out on an endless loop on cable TV news shows, overshadowing Trump’s presidency from day one.

Democrats have vowed to continue congressional investigations into the 2016 election campaign and Trump’s business practices. But without the solid foundation of a Mueller report that found evidence of any crimes by the president, they now risk seeming to overplay their hand.

“This is a gold star day for Donald Trump,” said presidential historian Douglas Brinkley. “Now the shackles are off. He’s able to demonize the news media and Democrats as perpetuating what he calls a hoax. And he’ll be able to use his innocence as fodder for the campaign trail.”

The question for Trump now is whether he will be able to bring a minimum of discipline to his campaign messaging and to the presidency itself.

History suggests he will have trouble with self-discipline. Just last week, he was immersed in a strange fight with a dead man, sharply criticizing the late Republican Senator John McCain and falsely accusing him of being at the root of some of the collusion allegations against him.

He has also been prone to making baffling abrupt decisions, such as occurred last week when he called off a round of sanctions against North Korea before they had even been imposed.

Despite the Mueller report’s conclusions, Trump remains an intemperate president, eager to lash out at any and all critics and perceived slights.

“This was an illegal takedown that failed,” Trump said on Sunday, even though Mueller left open the question of whether the former real estate magnate had attempted to obstruct the Russia probe, which did find extensive evidence that Russia meddled in the 2016 election.

“Now is the time to get back on the offense on the economy and growth,” said Republican strategist Scott Reed. “This is a good time to get back to a real healthy dose of message discipline for the entire administration, department-wide and the White House. That’s what you do when something like this happens.”

Trump, on a golfing weekend in Palm Beach, Florida, got the news in his private quarters at his Mar-a-Lago retreat from White House counsel Emmett Flood, and watched TV coverage of the Mueller report in his cabin on Air Force One.

Trump’s initial comments in reacting to the Mueller conclusion suggests he is not inclined to move past the investigation.

Speaking to reporters before boarding Air Force One for the flight back to Washington, Trump called for Democrats to be investigated, expanding on his often repeated assertion that the Mueller probe was Democrat-inspired. Mueller was appointed by Trump’s Department of Justice in 2017 after he fired FBI director James Comey.

“It’s a shame that our country had to go through this. To be honest it’s a shame that your president has had to go through this,” Trump said. “Before I even got elected it began, and it began illegally.”

Trump’s comments could foreshadow an effort by his supporters to seek payback for the cloud that has hung over his time in the White House.

“I’m interested in moving on and trying to get this behind us, but people have to pay for what they’ve done for the past two years,” said former Trump campaign aide David Bossie. “We must investigate the investigators.”

CHALLENGES FOR DEMOCRATS

Trump’s path to re-election remains a perilous one. Analysts say he will probably need to win the Midwestern states of Michigan, Pennsylvania and Wisconsin, just as he did in his improbable 2016 victory, and Democrats are already pouring resources into those states.

Trump will foreshadow his campaign message on Thursday night when he headlines a “Make America Great Again” rally in Michigan.

Trump supporters viewed the Mueller report as a blow to the more than a dozen Democrats who are campaigning for their party’s 2020 presidential nomination.

“This is very problematic for any Democrat who’s running for president in 2020 that was hoping they would face a weakened or beaten-down President Trump,” former Trump campaign adviser Jason Miller said. “In fact, President Trump will likely see a ratings boost coming out of this and a strong tailwind pushing him toward the upcoming election.”

Reuters/Ipsos polling has shown that Americans decided early on in Mueller’s investigation whether they thought Trump was guilty of collusion or not. The polling found few undecided voters.

Brinkley said Democrats will need to adjust their tactics and emphasize their differences with Trump’s record on issues ranging from healthcare and climate change to immigration.

“Some of those charges are going to have to rise to be the main charges against Trump,” he said, noting there was fatigue with the Russia issue.

(Reporting By Steve Holland, Jeff Mason and Roberta Rampton; Editing by Ross Colvin and Chris Reese)

Source: OANN

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Algeria’s Bouteflika will not run for a fifth term

FILE PHOTO: Algerian President Abdelaziz Bouteflika is seen in Algiers
FILE PHOTO: Algerian President Abdelaziz Bouteflika is seen in Algiers, Algeria April 9, 2018. REUTERS/Ramzi Boudina/File Photo

March 11, 2019

Algiers (Reuters) – Algeria’s President Abdelaziz Bouteflika will not run for a fifth term, the presidency said on Monday.

The presidency also announced the postponement of a presidential election which was due to take place in April.

A government reshuffle would take place soon, the presidency said in a statement.

(Reporting by Algiers bureau, editing by Angus MacSwan)

Source: OANN

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Mondelez in advanced talks for Campbell’s international business: Bloomberg

FILE PHOTO: A man looks at two paintings 'Coloured Campbell's soup can' by late U.S. artist Andy Warhol the Art Unlimited of the Art Basel art fair in Basel
FILE PHOTO: A man looks at two paintings 'Coloured Campbell's soup can' from 1965 by late U.S. artist Andy Warhol (1928-1987) the Art Unlimited of the Art Basel art fair in Basel June 16, 2011. REUTERS/Arnd Wiegmann/File Photo

March 29, 2019

(Reuters) – Oreo cookies maker Mondelez International Inc is in advanced talks to buy international brands being sold by U.S. food company Campbell Soup Co, Bloomberg reported late on Thursday.

Mondelez is negotiating final terms of a purchase of the business, which includes Australian cookie brand Arnott’s and Danish baked snacks maker Kelsen Group, the report said, citing people familiar with the matter.

The parties have been discussing a price of around $2.5 billion for the assets, the report said.

Campbell and Mondelez did not immediately respond to a request for comment.

Italian confectioner Ferrero and a consortium comprising private equity firms KKR & Co and Bain Capital were among the bidders for Campbell’s international business.

Campbell Soup said in August it would make preparations to divest its international portfolio and its “fresh” business, after being pressured by investors to boost its profitability and stock performance.

(Reporting by Aishwarya Venugopal in Bengaluru; Editing by Arun Koyyur)

Source: OANN

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Golf: Jutanugarn sisters caddie in par-three competition

Sisters caddie for Kiradech Aphibarnrat of Thailand during the 2019 Masters golf tournament's par 3 contest at the Augusta National Golf Club in Augusta, Georgia, U.S.
Sisters Ariya (L) and Moriya (C) Jutanugarn caddie for Kiradech Aphibarnrat (R) of Thailand during the 2019 Masters golf tournament's par 3 contest at the Augusta National Golf Club in Augusta, Georgia, U.S., April 10, 2019. REUTERS/Mike Segar

April 10, 2019

(Reuters) – After missing the proverbial boat for the inaugural Augusta National Women’s Amateur, the Jutanugarn sisters Ariya and Moriya instead made do with a chance to caddie in the par 3 competition at the Masters on Wednesday.

They shared the bag toting duties for fellow Thai Kiradech Aphibarnrat, even teeing it up on one hole, where all three swung simultaneously.

Ariya and Moriya turned professional in 2012, seven years before women finally got a chance to stride Augusta National’s famous fairways in competition, albeit sans professionals.

“We want to play it,” said world number three Ariya of the course as she and Moriya stood in their white caddie overalls outside the clubhouse on a warm and cloudless afternoon.

A visit last year allowed Ariya to admire the beauty of Augusta.

“Last year when I walked with Kiradech all 18 (holes) twice, I thought this course is amazing,” she said.

“I thought one time in my life I would really like to play here. I’m really jealous.”

Ariya and Moriya have earned between them $11 in career prize-money on the LPGA Tour.

But that does not stop them from wishing they had enjoyed a chance to compete at Augusta National.

“We don’t have that chance when it is our time,” said Moriya, before adding “hopefully one day.”

(Reporting by Andrew Both; Editing by Christian Radnedge)

Source: OANN

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UK’s Gove: Govt will use tariffs, quotas to protect farmers after Brexit

Britain's Secretary of State for Environment, Food and Rural Affairs Michael Gove leaves Downing Street
FILE PHOTO: Britain's Secretary of State for Environment, Food and Rural Affairs Michael Gove leaves Downing Street, London, Britain, January 18, 2019. REUTERS/Hannah McKay

February 19, 2019

LONDON (Reuters) – The British government will use tools including tariffs and quotas to make sure its farmers are not left at a competitive disadvantage by Brexit, environment minister Michael Gove will say on Tuesday.

With just six weeks to go until Britain is due to leave the EU, the government is yet to win parliament’s backing for an exit agreement. It is due to set out later this month the tariffs it plans to levy if Britain leaves without a deal on March 29.

Trade minister Liam Fox has denied media reports that he supports slashing tariffs on all imports to zero in order to keep prices low for consumers.

Farmers say this could price them out of the market.

Gove will seek to reassure them that the government has no such policy.

“We will use the tools we have at our disposal – tariffs, quotas and legislation – to make sure standards are protected and you are not left at a competitive disadvantage,” Gove will say in a speech to the National Farmers’ Union, according to advance extracts.

He will also promise that Britain will not lower its food standards in the pursuit of trade deals, and set out what the government is doing to mitigate the impact, particularly on small businesses, of a no-deal exit, his office said.

(Reporting by Kylie MacLellan; Editing by Hugh Lawson)

Source: OANN

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Harvard’s head fencing coach investigated over real estate deals involving students’ family

Harvard has opened an investigation into head fencing coach Peter Brand and the May 2016 sale of his house to the father of a prospective student.

Claudine Gay, the dean of the Faculty of Arts and Sciences -- which oversees Harvard's athletic department -- announced the "independent review" on Thursday in an email to members of the university community. She noted that university officials' "current understanding is that these allegations are not related in any way to the 'Operation Varsity Blues' scheme to influence student college admissions decisions at several prominent American research universities, alleged by United States federal prosecutors."

Gay did not say whether Brand had been placed on leave or otherwise disciplined. Brand did not immediately respond to Fox News' request for comment.

The Boston Globe reported earlier Thursday that Brand's house in suburban Needham, Mass., was sold to Maryland businessman Jie Zhao for $989,500 -- far more than its assessed value of $549,300. According to the paper, Needham's director of assessing, Chip Davis, conducted an on-site inspection soon after the closing and noted that the property was "in bad shape" and that the sale "made no sense." In October 2017, the house was sold again for $665,000, at a loss of $324,500 for Zhao. According to The Globe, Davis again noted that the second sale "made no sense."

Jie Zhao

Jie Zhao (LinkedIn)

Zhao told The Globe that his purchase of the home was meant as a favor to Brand because, as he put it, "I feel so sorry he has to travel so much to go to fencing practice." As the paper reported, Harvard's Malkin Athletic Center is some 12 miles from Brand's Needham home.

However, Zhao denied that the purchase was meant to smooth the way for his youngest son to attend Harvard. He noted that his older son already attended the Ivy League institution at the time of the transaction (and graduated in 2018), while his younger son excelled academically at the prestigious St. Albans prep school in Washington, D.C.

"It’s a no-brainer," Zhao said of his son's admission to Harvard. "I don’t have to do anything" to aid his admission.

One week after Zhao bought the house, The Globe reported, Brand and his wife bought a condominium in Cambridge for $1.3 million with a $517,000 mortgage.

In her email Thursday, Gay noted that prospective Harvard student-athletes have their applications reviewed by the entire admissions committee and are required to sit for an interview with an admissions officer or university alumnus. Harvard, like its fellow Ivy League schools, does not award athletic scholarships.

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"Regardless of what we eventually learn about these allegations, this is not a time for complacency," Gay wrote. "Where there are opportunities to clarify practices and strengthen procedures, we must act on them, and do so with a sense of urgency. This work is critically important to our academic mission and to the integrity of our athletics program and it has my full attention."

The Israel-born Brand has led Harvard's men's and women's fencing programs since 1999 and guided the Crimson to the NCAA co-ed team title in 2006.

His program has produced nine NCAA championships in individual events.

Click for more from The Boston Globe.

Source: Fox News National

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One of world’s rarest whale species has mini-baby boom off New England coast

An endangered species of whale is experiencing a mini-baby boom in New England waters, researchers on Cape Cod have said.

The North Atlantic right whale is one of the rarest species of whale on the planet, numbering only about 411. But the Center for Coastal Studies in Provincetown, Mass.,  said Friday its aerial survey team spotted two mom and calf pairs in Cape Cod Bay a day earlier. That brings the number seen in New England waters alone this year to three.

145 WHALES DIE ON NEW ZEALAND ISLAND

That's big news because the whale's population has been falling, and no calves were seen last year. In all, seven right whale calves have been seen so far this year.

The whales give birth off Georgia and Florida in the winter and travel to feeding grounds off New England in the early spring, including the Gulf of Maine, a body of water that touches Massachusetts, New Hampshire, Maine and Canada.

Cape Cod Bay is part of the Gulf of Maine and is a critically important feeding ground. The animals often feed close to shore, providing watchers on land "unbeatable views of one of the rarest of marine mammals," the Center for Coastal Studies said in a statement.

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It's illegal to get within 1,500 feet of the animals without a federal research permit, so boaters are discouraged from attempting to get close to the whales.

Source: Fox News National

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FILE PHOTO: Sri Lankan Special Task Force soldiers stand guard in front of a mosque as a Muslim man walks past him during the Friday prayers at a mosque, days after a string of suicide bomb attacks on Easter Sunday, in Colombo
FILE PHOTO: Sri Lankan Special Task Force soldiers stand guard in front of a mosque as a Muslim man walks past him during the Friday prayers at a mosque, five days after a string of suicide bomb attacks on Catholic churches and luxury hotels across the island on Easter Sunday, in Colombo, Sri Lanka April 26, 2019. REUTERS/Dinuka Liyanawatte/File Photo

April 26, 2019

By Tom Lasseter and Shri Navaratnam

KATTANKUDY, Sri Lanka (Reuters) – Mohamed Hashim Mohamed Zahran was 12 years old when he began his studies at the Jamiathul Falah Arabic College. He was a nobody, with no claim to scholarship other than ambition.

Zahran and his four brothers and sisters squeezed into a two-room house with their parents in a small seaside town in eastern Sri Lanka; their father was a poor man who sold packets of food on the street and had a reputation for being a petty thief.

“His father didn’t do much,” recalled the school’s vice principal, S.M. Aliyar, laughing out loud.

The boy surprised the school with his sharp mind. For three years, Zahran practiced memorizing the Koran. Next came his studies in Islamic law. But the more he learned, the more Zahran argued that his teachers were too liberal in their reading of the holy book.

“He was against our teaching and the way we interpreted the Koran – he wanted his radical Islam,” said Aliyar. “So we kicked him out.”

Aliyar, now 73 with a long white beard, remembers the day Zahran left in 2005. “His father came and asked, ‘Where can he go?’.”

The school would hear again of Mohamed Zahran. And the world now knows his name. The Sri Lankan government has identified him as the ringleader of a group that carried out a series of Easter Sunday suicide bombings in the country on April 21.

The blasts killed more than 250 people in churches and luxury hotels, one of the deadliest-ever such attacks in South Asia. There were nine suicide bombers who blew apart men, women and children as they sat to pray or ate breakfast.

Most of the attackers were well-educated and from wealthy families, with some having been abroad to study, according to Sri Lankan officials.

That description does not, however, fit their alleged leader, a man said to be in his early 30s, who authorities say died in the slaughter. Zahran was different.

INTELLIGENCE FAILINGS

Sri Lanka’s national leadership has come under heavy criticism for failing to heed warnings from Indian intelligence services – at least three in April alone – that an attack was pending. But Zahran’s path from provincial troublemaker to alleged jihadist mastermind was marked by years of missed or ignored signals that the man with a thick beard and paunch was dangerous.

His increasingly militant brand of Islam was allowed to grow inside a marginalized minority community – barely 10 percent of the country’s roughly 20 million people are Muslim – against a backdrop of a dysfunctional developing nation.

The top official at the nation’s defense ministry resigned on Thursday, saying that some institutions under his charge had failed.

For much of his adult life, Zahran, 33, courted controversy inside the Muslim community itself.

In the internet age, that problem did not stay local. Zahran released online videos calling for jihad and threatening bloodshed.

After the blasts, Islamic State claimed credit and posted a video of Zahran, clutching an assault rifle, standing before the group’s black flag and pledging allegiance to its leader.

The precise relationship between Zahran and Islamic State is not yet known. An official with India’s security services, who spoke on condition of anonymity, said that during a raid on a suspected Islamic State cell by the National Investigation Agency earlier this year officers found copies of Zahran’s videos. The operation was in the state of Tamil Nadu, just across a thin strait of ocean from Sri Lanka.

“LIKE A SPOILED CHILD”

Back in 2005, Zahran was looking to make his way in the world. His hometown of Kattankudy is some seven hours’ drive from Colombo on the other side of the island nation, past the countless palm trees, roadside Buddha statues, cashew hawkers and an occasional lumbering elephant in the bush. It is a town of about 40,000 people, a dot on the eastern coast with no clear future for an impoverished young man who’d just been expelled.

Zahran joined a mosque in 2006, the Dharul Athar, and gained a place on its management committee. But within three years they’d had a falling out.

“He wanted to speak more independently, without taking advice from elders,” said the mosque’s imam, or spiritual leader, M.T.M. Fawaz.

Also, the young man was more conservative, Fawaz said, objecting, for instance, to women wearing bangles or earrings.

“The rest of us come together as community leaders but Zahran wanted to speak for himself,” said Fawaz, a man with broad shoulders lounging with a group of friends in a back office of the mosque after evening prayers. “He was a black sheep who broke free.”

Mohamed Yusuf Mohamed Thaufeek, a friend who met Zahran at school and later became an adherent of his, said the problems revolved around Zahran’s habit of misquoting Islamic scriptures.

The mosque’s committee banned him from preaching for three months in 2009. Zahran stormed off.

“We treated him like a spoiled child, a very narrow-minded person who was always causing some trouble,” said the head of the committee, Mohamed Ismail Mohamed Naushad, a timber supplier who shook his head at the memory.

Now on his own, Zahran began to collect a group of followers who met in what Fawaz described as “a hut”.

At about that time, Zahran, then 23, married a young girl from a small town outside the capital of Colombo and brought his bride back to Kattankudy, according to his sister, Mathaniya.

“I didn’t have much of a connection with her – she was 14,” she said.

Despite being “a bit rough-edged”, Zahran was a skilled speaker and others his age were drawn to his speeches and Koranic lessons, said Thaufeek. He traveled the countryside at times, giving his version of religious instruction as he went.

Also, Zahran had found a popular target: the town’s Sufi population, who practice a form of Islam often described a mystical, but which to conservatives is heresy.

Tensions in the area went back some years. In 2004, there was a grenade attack on a Sufi mosque and in 2006 several homes of Sufis were set afire. Announcements boomed from surrounding mosques at the time calling for a Sufi spiritual leader to be killed, said Sahlan Khalil Rahman, secretary of a trust that oversees a group of Sufi mosques.

He blamed followers of the fundamentalist Wahhabi strain of Islam that some locals say became more popular after funding from Saudi Arabia, the birthplace of Wahhabism, flowed to mosques in Kattankudy.

It was, Rahman said, an effort “to convert Sufis into Wahhabis through this terrorism”. Rahman handed over a photograph album showing charred homes, bullet holes sprayed across an office wall and a shrine’s casket upended.

ONLINE RADICAL

It was an ideal backdrop for Zahran’s bellicose delivery and apparent sense of religious destiny.

He began holding rallies, bellowing insults through loudspeakers that reverberated inside the Sufis’ house of worship as they tried to pray.

In 2012, Zahran started a mosque of his own. The Sufis were alarmed and, Rahman said, passed on complaints to both local law enforcement and eventually national government offices. No action was taken.

The then-officer in charge of Kattankudy police, Ariyabandhu Wedagedara, said in a telephone interview that he couldn’t arrest people simply because of theological differences.

     “The problem at the time was between followers of different Islamic sects – Zahran was not a major troublemaker, but he and followers of other sects, including the Sufis, were at loggerheads,” Wedagedara said.

Zahran found another megaphone: the internet. His Facebook page was taken down after the bombings, but Muslims in the area said his video clips had previously achieved notoriety.

His speeches went from denouncing Sufis to “kafirs”, or non-believers, in general. Zahran’s sister, Mathaniya, said in an interview that she thought “his ideas became more radical from listening to Islamic State views on the Internet”.

In one undated video, Zahran, in a white tunic and standing in front of an image of flames, boomed in a loud voice: “You will not have time to pick up the remains of blown-up bodies. We’ll keep sending those insulting Allah to hell.”

“HARD TO TAKE”

Zahran spoke in Tamil, making his words available to young Muslims clicking on their cellphones in Kattankudy and other towns like it during a period when, in both 2014 and 2018, reports and images spread of Sinhalese Buddhists rioting against Muslims in Sri Lanka.

In 2017, Zahran’s confrontations boiled over. At a rally near a Sufi community, his followers came wielding swords. At least one man was hacked and hospitalized. The police arrested several people connected to Zahran, including his father and one of his brothers. Zahran slipped away from public view.

That December, the mosque Zahran founded released a public notice disowning him. Thaufeek, his friend from school, is now the head. He counted the places that Zahran had been driven away from – his school, the Dharul Athar mosque and then, “we ourselves kicked him out, which would have been hard for him to take”.

The next year, a group of Buddha statues was vandalized in the town of Mawanella, about five hours drive from Kattankudy. There, in the lush mountains of Sri Lanka’s interior, Zahran had taken up temporary residence.

“He was preaching to kill people,” said A.G.M. Anees, who has served as an imam at a small mosque in the area for a decade. “This is not Islam, this is violence.”

Zahran went into hiding once more.

On the Thursday morning before the Easter Sunday bombings, Zahran’s sister-in-law knocked on the door of a neighbor who did seamstress work near Kattankudy. She handed over a parcel of fabric and asked for it to be sewn into a tunic by the end of the day.

“She said she was going on a family trip,” said the neighbor, M.H. Sithi Nazlya.

Zahran’s sister says that her parents turned off their cellphones on the Friday. On Sunday, when she visited their home, they were gone.

She does not know if Zahran arranged for them to be taken somewhere safe. Or why he would have carried out the bombing.

But now in Kattankudy, and in many other places, people are talking about Mohamed Hashim Mohamed Zahran.

(Reporting by Tom Lasseter and Shri Navaratnam; Additional reporting by Sanjeev Miglani, Shihar Aneez and Alasdair Pal; Editing by John Chalmers and Alex Richardson)

Source: OANN

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A Wells Fargo logo is seen in New York City
FILE PHOTO: A Wells Fargo logo is seen in New York City, U.S. January 10, 2017. REUTERS/Stephanie Keith

April 26, 2019

By Jessica DiNapoli and Imani Moise

NEW YORK (Reuters) – Wells Fargo & Co’s board has retained executive search firm Spencer Stuart to hunt for a new chief executive, ideally a woman who can tackle its regulatory and public perception issues, two people familiar with the matter said.

Wells Fargo’s ambition to become the only major U.S. bank with a female CEO underscores the need to restore its image with a wide range of constituents, including customers, shareholders, regulators and politicians, after it became mired in a scandal in 2016 for opening potentially millions of unauthorized accounts.

Former CEO Tim Sloan left abruptly last month, becoming the second CEO to leave the bank in the scandal’s fallout.

The board plans to approach Citigroup Inc’s Latin America chief Jane Fraser, one of the sources said. During Fraser’s 15-year tenure at Citigroup, she has gained experience running consumer and commercial businesses as well as its private bank.

Fraser could not be immediately reached for comment.

The board also discussed approaching JPMorgan Chase & Co’s Marianne Lake, but after the bank named her to run JPMorgan’s consumer lending business last week, that option became less viable, the source added. The board wants someone who can convince regulators, employees, investors and customers that the bank has fixed problems underpinning the sales scandal, the sources said.

The bank’s board feels that choosing a woman might please lawmakers in Washington who have been critical not only of Wells Fargo’s misbehavior, but of the broader banking industry for a lack of diversity and gender equality, said the sources, who spoke on the condition of anonymity.

It also believes that such a move could bolster Wells Fargo’s image with the households of customers where women play a leading role in managing finances, one of the sources added.

The new CEO will also have to resolve litigation and regulatory matters. There are 14 outstanding consent orders with government entities, as well as probes by the U.S. Securities and Exchange Commission, the Department of Labor and the Department of Justice.

To be sure, Spencer Stuart will approach and consider several male candidates for the CEO job as well, one of the sources said. The top priority is to find an external candidate who can navigate the bank’s regulatory issues, the source added.

Finding an outsider who meets all those qualifications and wants the job will be difficult, the sources said. There are few people with the necessary experience, even fewer of those who are women, and it is not clear if any of the obvious candidates would be open to taking the role.

The sources asked not to be identified because Wells Fargo’s board deliberations are confidential.

Spokespeople for Wells Fargo and Spencer Stuart declined to comment.

Wells Fargo’s board has not made any public statements about its requirements for a new CEO, beyond Chair Betsy Duke saying the job should attract the “top talent in banking.”

The board wants to complete the search within the next three to six months, one of the sources said.

STALLED SHARES

After Sloan’s ouster, Wells Fargo’s board appointed Allen Parker, who had been general counsel, as interim CEO. The board has said it is looking for an external candidate as a permanent replacement. It is not clear whether Parker will stay at the bank.

Others whose names have been mentioned by analysts, recruiters and industry sources as perspective CEO candidates include Alphabet Inc finance chief Ruth Porat and Bank of America Corp’s chief technology officer Cathy Bessant.

Wells Fargo shares have stalled since Sloan’s departure on March 29th, while the KBW Bank index has rallied more than 7 percent.

Wells Fargo would be “the best stock on earth to buy” if it had the right CEO, said Greg Donaldson, chairman of Donaldson Capital Management in Indiana.

Donaldson held about 50,000 Wells Fargo shares, but sold the stake last year as problems mounted. The CEO change could convince him to re-invest, depending on who it is, he told Reuters.

“It would be very smart for them to get a woman,” he said.

(Reporting by Jessica DiNapoli and Imani Moise in New York; Editing by Lauren Tara LaCapra, Greg Roumeliotis and Susan Thomas)

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A worker walks on the roof of a new home under construction in Carlsbad
FILE PHOTO: A worker walks on the roof of a new home under construction in Carlsbad, California September 22, 2014. REUTERS/Mike Blake

April 26, 2019

NEW YORK (Reuters) – The U.S. economy is growing at a 2.08% annualized pace in the second quarter based on upbeat data on durable goods orders and new home sales in March, the New York Federal Reserve’s Nowcast model showed on Friday.

This was faster than the 1.92% growth rate calculated by the N.Y. Fed model the week before.

(Reporting by Richard Leong; Editing by Chizu Nomiyama)

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Extraordinary European Union leaders summit in Brussels
FILE PHOTO: Italian Prime Minister Giuseppe Conte arrives at an extraordinary European Union leaders summit to discuss Brexit, in Brussels, Belgium April 10, 2019. REUTERS/Yves Herman

April 26, 2019

(Reuters) – Italian Prime Minister Giuseppe Conte said on Friday he had assured China’s Huawei Technologies that it would not face discrimination in the rollout of Italy’s 5G telecoms network.

Conte was speaking on a visit to China where he said he met Huawei’s chief executive, Ren Zhengfei. The prime minister’s comments were carried in Italy by TV broadcaster Sky Italia.

“I told him that we have adopted some precautions, some measures to protect our interests that demand very high levels of security … not only from Huawei but any company entering into the 5G arena,” he said.

Huawei, the world’s biggest producer of telecoms equipment, is under intense scrutiny after the United States told allies not to use its technology because of fears it could be a vehicle for Chinese spying. Huawei has categorically denied this.

(Writing by by Mark Bendeich; Editing by Angelo Amante)

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U.S. President Trump departs for travel to Indianapolis from the White House in Washington
U.S. President Donald Trump talks to reporters as he departs for travel to Indianapolis, Indiana from the White House in Washington, U.S., April 26, 2019. REUTERS/Jonathan Ernst

April 26, 2019

WASHINGTON (Reuters) – President Donald Trump on Friday was expected to announce his intention to revoke the United States’ status as a signatory of the Arms Trade Treaty, which was signed in 2013 by then-President Barack Obama but never ratified by Congress, two U.S. officials said.

Trump was expected to announce the decision in a speech in Indianapolis, to the National Rifle Association, the officials said. The NRA, a powerful gun lobby group, has long been opposed to the treaty, which was negotiated at the United Nations.

(Reporting By Steve Holland; Editing by Bill Trott)

Source: OANN

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