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Fed’s Kaplan says he is getting more confident about economy: WSJ

Dallas Federal Reserve Bank President Kaplan stands on a stage in Stanford
FILE PHOTO - Dallas Federal Reserve Bank President, Robert Kaplan, stands on a stage at Stanford University's Hoover Institution where he is attending an annual monetary policy conference in Stanford, California, U.S., May 4, 2018. REUTERS/Ann Saphir

April 18, 2019

(Reuters) – A top Federal Reserve policymaker on Thursday said he is “getting more confident” in U.S. economic growth this year but still thinks current interest rates are appropriate.

“I’m getting more confident about solid growth this year,” Dallas Fed President Robert Kaplan said in an interview with the Wall Street Journal. He described the U.S. central bank’s current benchmark overnight lending rate of 2.25 percent to 2.50 percent as “appropriate” and “mildly accommodative.”

Several banks and analysts revised their forecasts for first-quarter U.S. growth higher on Thursday after data showed retail sales surging in March and the number of Americans filing applications for unemployment benefits falling to the lowest level in nearly 50 years last week.

(Reporting by Trevor Hunnicutt in New York; Editing by Paul Simao)

Source: OANN

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Stock ETFs, corporate bonds, junk debt enjoy another week of inflows

A computer screen showing stock graphs is reflected on glasses in this illustration photo taken in Bordeaux
FILE PHOTO - A computer screen showing stock graphs is reflected on glasses in this illustration photo taken in Bordeaux, France, March 30, 2016. REUTERS/Regis Duvignau

April 18, 2019

By Jennifer Ablan

(Reuters) – Investors’ appetite for risk was on display yet again this week with huge cash inflows into U.S.-based stock exchange-traded funds, corporate bond funds and high-yield “junk” bond portfolios, according to Refinitiv’s Lipper research service data on Thursday.

U.S.-based investment-grade corporate bond funds attracted more than $2.3 billion in the week ended Wednesday, extending their weekly inflow streak since late January, Lipper said. U.S.-based high-yield junk bond funds attracted more than $1.1 billion in the week ended Wednesday, their sixth consecutive week of inflows, Lipper said.

Stock exchange-traded funds (ETFs) attracted about $7.35 billion of inflows, Lipper said. Investors in exchange-traded funds are thought to represent institutional investors, including hedge funds. Mutual funds are thought to represent retail investors. U.S. stock mutual funds posted cash withdrawals of more than $1.84 billion, Lipper added.

Tom Roseen, head of research services at Lipper, said a “tale of two cities” still exists within equities.

“Mom and Pop are still net sellers of equity funds, withdrawing $1.8 billion for the week, while (institutional investors) continue to pad the coffers of equity ETFs,” Roseen said. “But for the 14th consecutive week, the average fund investor remained enamored by fixed-income funds, pouring in roughly $1.7 billion this week.”

All told, Roseen said investors put money to work, partly evident in the cash withdrawals from money-market funds. Investors yanked cash from money funds to pay for taxes but they also felt compelled to put money to work in rising markets, he said. U.S.-based money market funds posted $54.5 billion in outflows in the week ended Wednesday, their largest cash withdrawal since August 2011.

“I am attributing that to tax season and investors’ moves back into bonds and equity funds,” Roseen said.

Outside the United States, U.S.-based emerging market funds attracted more than $417 million in the week ended Wednesday, extending their weekly inflow streak since early January, according to Lipper. U.S.-based international funds attracted $1.22 billion in the week ended Wednesday, their first inflows since mid-March, Lipper said.

(Reporting by Jennifer Ablan; Editing by Lisa Shumaker and Leslie Adler)

Source: OANN

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Indigenous groups in Brazil protest health care changes

Indigenous groups across Brazil are protesting a proposal to transfer indigenous health services from the federal government to municipalities.

Hundreds of demonstrators in traditional garb and body paint danced and prayed at a protest in Sao Paulo. Wednesday morning, a group entered the building and were pepper-sprayed, according to a community leader. They did a ritual dance in the entryway before going back outside. Other protests were held across Brazil.

Health Minister Luiz Henrique Mandetta last week discussed closing the federal indigenous health office. Indigenous leaders say the specialized agency can attend them in indigenous languages, which municipalities can't.

President Jair Bolsonaro has said he thinks indigenous people are just like any other Brazilians and should not be treated differently and "maintained on reserves like animals in a zoo."

Source: Fox News World

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New Pentagon transgender rule sets limits for troops

The Defense Department has approved a new policy that will largely bar most transgender troops and military recruits from transitioning to another sex, and require most individuals to serve in their birth gender.

The new policy comes after a lengthy and complicated legal battle, and it falls short of the all-out transgender ban that was initially ordered by President Donald Trump. But it will likely force the military to eventually discharge transgender individuals who need hormone treatments or surgery and can't or won't serve in their birth gender.

The order says the military services must implement the new policy in 30 days, giving some individuals a short window of time to qualify for gender transition if needed. And it allows service secretaries to waive the policy on a case-by-case basis.

Source: Fox News National

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Vienna zoo gets male panda as partner for longtime resident

A 19-year-old male giant panda has arrived at Vienna's Schoenbrunn zoo, more than two years after his predecessor died.

Yuan Yuan, who arrived on Tuesday evening, was chosen as a partner for Yang Yang, the zoo's 18-year-old female panda. The zoo said Wednesday that he will be introduced to the public at the end of May once he is out of quarantine.

Schoenbrunn has been home to pandas since 2003, when Yang Yang and male Long Hui arrived. China lends the rare bears to other countries as a sign of goodwill in what is known as "panda diplomacy."

Long Hui died in December 2016 while undergoing an examination for a tumor, which zoo officials said was malignant and inoperable. He had fathered twins months earlier.

Source: Fox News World

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The Latest: False ID is ‘like reliving the day,’ family says

The Latest on efforts to confirm the identity of a person who told police he is Timmothy Pitzen, an Illinois boy who has been missing since 2011 (all times local):

6:05 p.m.

The family of an Illinois boy missing since 2011 says they are heartbroken after police determined that a person claiming to be Timmothy Pitzen apparently carried out a hoax.

Kara Jacobs told reporters Thursday that learning her nephew had not been found is "like reliving the day" he disappeared over again. Anderson also said his father, James Pitzen, "is devastated once again."

A person claiming to be 14 years old also told police in Kentucky Wednesday that he had just escaped from kidnappers in the Cincinnati area after being held captive for seven years. The FBI said Thursday that DNA testing ruled him out as being Timmothy who was removed at age 6 by his mother from his Aurora school.

Amy Fry-Pitzen later was found dead at a hotel in Illinois in a suicide. She left a note that said Timmothy was with others who would love and care for him.

Aurora police Sgt. Bill Rowley called the person's claim "a disappointment" and that this was another time the family had their "hope raised."

___

5:55 p.m.

Authorities say the person who claimed to be a long-missing Illinois boy is actually a 23-year-old Ohio man.

Newport, Kentucky, police chief Tom Collins told ABC News that the person is Brian Rini of Medina in northeast Ohio.

State prison records show a man by that name was released from a state prison on March 7, after serving time for burglary and vandalism charges.

A man by that name also pleaded guilty to burglary charges in January 2018 and passing bad checks in December 2015, according to Medina County Court records. The same man had multiple citations in Medina Municipal Court, including driving without a valid license, disorderly conduct and theft.

___

4:45 p.m.

Authorities have rejected a teenager's claim that he is an Illinois boy who disappeared in 2011 at age 6.

The FBI says DNA testing ruled out the teenager as being Timmothy Pitzen, missing from Aurora, Illinois. Police say the story of the teenager found wandering streets in Newport, Kentucky, on Wednesday didn't check out.

The teenager told police that he was Timmothy and that he had escaped two kidnappers.

Authorities didn't immediately release the teenager's true identity or other information.

Timmothy Pitzen disappeared around the time his mother killed herself after leaving a note that her 6-year-old son was fine but that no one would ever find him.

Police and the boy's family say there have been other false sightings over the years.

___

2:25 p.m.

The former principal at Timmothy Pitzen's elementary school says his thoughts have been with the boy's family since a teenager told police in Kentucky he was Timmothy, who disappeared in 2011.

As authorities tried Thursday to confirm the teen's identity, Nick Baughman said he hopes the results provide the Pitzen family with "peace and closure and they would heal." The teen was found Wednesday in Newport, near Cincinnati.

Baughman now is an administrator at another Illinois school district. He was Greenman Elementary principal in Aurora, Illinois, when Amy Fry-Pitzen removed her 6-year-old son early from school.

Fry-Pitzen later was found dead at a hotel in Illinois in a suicide. She left a note that said Timmothy was with others who would love and care for him.

Baughman says "it was just one of those moments where you maintain hope and be supportive and say a lot of prayers."

___

12 p.m.

Police in the Illinois hometown of a boy missing since 2011 say they can't yet confirm that he is in fact a teenager found wandering in Kentucky.

The Aurora police department says they are assisting an FBI investigation and hope to have something more definitive later Thursday.

Authorities are trying to confirm the identity of a 14-year-old boy who told police in Newport, Kentucky, that he escaped two kidnappers in the Cincinnati area and ran across a bridge. He said his name is Timmothy Pitzen.

In 2011, Timmothy Pitzen's mother killed herself, leaving a note saying her son was fine but that no one would ever find him. Timmothy was 6 years old.

Aurora police sent two detectives to check out the teenager's story. Timmothy's grandmother and an aunt said that police were using DNA testing.

___

10:50 a.m.

The grandmother of an Illinois boy missing since 2011 says she's trying not to get her hopes up after hearing that he might be alive.

Speaking from her home in northern Illinois, Alana Anderson says "there have been so many tips and sightings and what not and you try not to panic or be overly excited."

Authorities are trying to confirm the identity of a 14-year-old boy who told police in Newport, Kentucky, that he escaped two kidnappers in the Cincinnati area and ran across a bridge. He said his name is Timmothy Pitzen.

In 2011, then-6-year-old Timmothy Pitzen's mother killed herself, leaving a note saying her son was fine but that no one would ever find him.

Anderson says her daughter was having problems with her fourth marriage and had battled depression for years.

___

8:30 a.m.

Authorities are trying to confirm the identity of a teenager who told police he is an Illinois boy missing since 2011.

A 14-year-old boy told police in Newport, Kentucky, on Wednesday that he escaped two kidnappers in the Cincinnati area and ran across a bridge. He said his name was Timmothy Pitzen.

In 2011, then-6-year-old Timmothy Pitzen's mother picked him up at school in Illinois, took him to the zoo and a water park, and later killed herself at a hotel, leaving a note saying her son was fine but that no one would ever find him.

Police from Aurora, Illinois, sent two detectives to the Cincinnati area, where the FBI and local police are investigating. The boy was taken to a hospital, but no information was released.

Source: Fox News National

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Ex-Exec Resigned Over Fox’s ‘Relationship With Facts’

A former Newscorp executive resigned in 2017 over what he considered a "significant change in tone" and a "significant shift in the relationship with facts, particularly on the Fox side."

"I hadn't been exposed, for a long time to a lot of what was going on on the opinion side, but beyond that I noticed a significant change in tone," former Newscorp senior vice president Joseph Azam told CNN's "Reliable Sources." 

"I'm a big believer in the marketplace of ideas, and I was fine working with and for people who had very different values and opinions than I did, but I noticed a significant shift in the ferociousness, and frankly, in the relationship with facts, particularly on the Fox side."

The "run up to the election" is when Azam noticed a change in tone and rhetoric that he said made him uncomfortable and "was exposed to it every day."

"It became very profitable to kind of fall in line with some of the anti-immigrant, anti-refugee, anti-Semitic, anti-Muslim rhetoric, and I was affected by that," Azam said.

Source: NewsMax America

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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)

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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)

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