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Kim Jong Ale, Rocket man T-shirts and Trump-themed haircuts: Vietnam embraces landmark summit

As President Trump's second summit with Kim Jong Un quickly approaches, the Vietnamese city where it is set to be held is bustling with new business - including the sale of T-shirts with the North Korean dictator's face on them, Trump and Kim-themed haircuts and drinks like the "Kim Jong Ale."

Designer Truong Thanh Duc says he's already sold about 300 of his novelty T-shirts, which are emblazoned with Kim's face alongside the phrase "Roket Man," the nickname Trump coined for the despot. Another T-shirt pictures Trump and Kim together below the word "Peace," according to Reuters.

Duc's T-shirt business isn't the only one to pop up in light of the forthcoming summit. One barber at the the Tuan Duong Beauty Academy in Hanoi is reportedly offering free haircuts for residents looking to clean up before the historic meeting, as long as they are in the style of Trump or Jong Un's haircut. Some patrons have even taken to dyeing their hair orange to match the U.S. President.

VIETNAMESE BARBER HANDING OUT FREE TRUMP-KIM HAIRCUTS TO MARK SECOND SUMMIT

Additionally, a bar in Hanoi has begun offering summit-themed drinks, such as the "Peace Negrotiations" and the "Kim Jong Ale."

T-shirt designer Duc, however, has philanthropic plans for his profits from the T-shirts. He says he'll buy baguettes for the poor people of Hanoi, which are a popular bread in the formerly French-colonized city.

TRUMP, KIM JONG UN'S SUMMIT IN VIETNAM: WHAT TO EXPECT FROM THE LEADERS' SECOND MEETING

Duc says he chose to capitalize on the summit, which is set to take place next week, because of his respect for the heads of American and North Korea.

Short, back un sides: To Gia Huy, 9, and Le Phuc Hai, 66, pose after having their haircut in North Korean leader Kim Jong Un and U.S. President Donald Trump styles in a haircut salon in Hanoi, Vietnam February 19.

Short, back un sides: To Gia Huy, 9, and Le Phuc Hai, 66, pose after having their haircut in North Korean leader Kim Jong Un and U.S. President Donald Trump styles in a haircut salon in Hanoi, Vietnam February 19. (REUTERS/Kham)

“I really admire these two leaders,” he said. “One is the leader of the most technologically advanced country in the world and the other leader, although a bit extreme, has realised his people are too poor and he wants his nation to develop."

NORTH KOREA KEEPS AMASSING NUCLEAR MATERIAL DESPITE PROMISING TO DENUCLEARIZE, REPORT FINDS

“There’s no need to talk about Trump as he’s already a great man. Everybody knows that,” he continued. “But we should always encourage Kim Jong Un to give up his dictatorship for his people”.

He added that although Kim's infamous legacy has been a controversial one, he believes he's changed his ways in the interest of diplomacy.

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“Kim Jong Un is a dictator but now he has changed,” said Duc. “He has to give up that status to shake hands with the developed world”.

Source: Fox News World

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France’s Macron says fuel taxes cannot rise in the same way as before

FILE PHOTO: French President Emmanuel Macron delivers a speech at the opening of the International Agriculture Fair (Salon de l'Agriculture) in Paris
FILE PHOTO: French President Emmanuel Macron delivers a speech at the opening of the International Agriculture Fair (Salon de l'Agriculture) in Paris, France, February 23, 2019. REUTERS/Charles Platiau/Pool/File Photo

February 26, 2019

PARIS (Reuters) – French President Emmanuel Macron said on Tuesday that his government would not pursue hikes in fuel taxes in the same manner as had been contemplated before waves of protests erupted in France in mid-November over the high cost of living.

“It is obvious one cannot act as if nothing has happened and go back to the same hike trajectories,” he said during a debate with mayors in Paris.

Macron said he was more in favor of a variable model that would track oil prices globally, and be capped at a certain level.

(Reporting by Jean-Baptiste Vey; Writing by Matthias Blamont; Editing by Sarah White)

Source: OANN

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NBA roundup: Antetokounmpo hurt in Bucks’ victory

NBA: Los Angeles Clippers at Milwaukee Bucks
Mar 28, 2019; Milwaukee, WI, USA; Milwaukee Bucks forward Khris Middleton (22) drives for a shot during the first quarter against the LA Clippers at Fiserv Forum. Mandatory Credit: Jeff Hanisch-USA TODAY Sports

March 29, 2019

Khris Middleton scored 39 points as the Milwaukee Bucks moved closer to securing the top record in the Eastern Conference with a 128-118 victory Thursday over the visiting Los Angeles Clippers.

The victory came with some concern, however, as Giannis Antetokounmpo left the game with 7:46 remaining and did not return after sustaining a right ankle injury when he stepped on the foot of the Clippers’ Garrett Temple.

Antetokounmpo’s status moving forward was not immediately known, although he did remain on the bench for the remainder of the contest. Bucks coach Mike Budenholzer did not express significant concern after the game and said the team would wait to see how their star player feels on Friday.

Antetokounmpo finished with 34 points as the Bucks remained four games ahead of the second-place Toronto Raptors. Shai Gilgeous-Alexander led the Clippers with 21 points.

Rockets 112, Nuggets 85

James Harden scored 38 points, Clint Capela posted a double-double, and host Houston closed the gap on Denver in the race for the second seed in the Western Conference.

Houston clinched the season series with the win, along with home-court advantage in the event the teams close the regular season with the same record and meet in the playoffs.

Harden scored 16 points in the third quarter to help the Rockets fend off one Denver run after another. Capela totaled 17 points and 15 rebounds and claimed a spirited battle with Nuggets All-Star center Nikola Jokic (16 points, eight rebounds, six assists, two blocks), whose early thrust lifted Denver to a seven-point advantage late in the first quarter.

Heat 105, Mavericks 99

Goran Dragic posted his second career triple-double with 23 points, 12 rebounds and 11 assists as Miami defeated visiting Dallas.

Miami’s win — coupled with an Orlando Magic loss earlier — moved the Heat back into the eighth and final playoff position in the Eastern Conference. Miami leads Orlando by a half-game with just seven games remaining for the Heat and six for the Magic.

Dragic, who has been slowed this season due to a knee injury, made his first start since Dec. 10. He had nine of his points in the fourth quarter. Luka Doncic had 19 points, eight rebounds and seven assists for the Mavericks.

Spurs 116, Cavaliers 110

DeMar DeRozan scored 25 points, 21 of them in the second half, but his assist on a 3-pointer by Patty Mills with 14.5 seconds left proved to be the key play in San Antonio’s win over visiting Cleveland.

The Spurs shrugged off a ragged first half, moved to the lead in the third quarter and held off the Cavaliers in the fourth for the win, its 11th in its past 14 games.

The victory allowed the Spurs, the eighth-place team in the Western Conference standings, to gain a half-game on seventh-place Oklahoma City. Collin Sexton topped the Cavaliers with 24 points.

Raptors 117, Knicks 92

Pascal Siakam scored 14 of his 31 points in the third quarter as visiting Toronto never trailed in rolling past league-worst New York.

Siakam scored at least 30 points for the fifth time in his career, and each instance has occurred since Jan. 1. The forward shot 11 of 19 from the floor while collecting five rebounds and five assists in a game the Raptors led by as many as 31 and stayed in front for the final 45-plus minutes after two early ties.

Danny Green added 15 for the Raptors, who made 20 3-pointers — one shy of the team record set March 3, 2005, against Philadelphia and matched Oct. 19 against Miami. Mitchell Robinson paced the Knicks with 19 points.

76ers 123, Nets 110

Joel Embiid had 39 points, 13 rebounds and six assists to lift host Philadelphia past Brooklyn. It was Embiid’s league-best 27th game with at least 30 points and 10 rebounds this season. Embiid shot 12 of 20 from the field and 12 of 16 from the free-throw line.

JJ Redick added 18 points while Ben Simmons and Boban Marjanovic had 16 each for the Sixers, who snapped a two-game losing streak.

Joe Harris paced the Nets with 22 points while Rondae Hollis-Jefferson added 19 points and 10 rebounds. Caris LeVert contributed 18 points for the Nets, who completed a 2-5 road trip.

Pistons 115, Magic 98

Wayne Ellington tied his season high with 25 points, including 17 in the third quarter, and host Detroit ended Orlando’s six-game winning streak.

Blake Griffin had 20 points, 10 rebounds and five assists for Detroit, which returned home after a 1-4 road trip. Andre Drummond added 18 points, 18 rebounds, four assists and six blocks.

Aaron Gordon led Orlando with 20 points, and D.J. Augustin had 18.

Pelicans 121, Kings 118

Julius Randle had 34 points and 10 rebounds as host New Orleans beat Sacramento, pushing the Kings closer to elimination from playoff contention.

Christian Wood had a career high in points for the second consecutive game with 25, Elfrid Payton added 16 for the Pelicans, who won for just the second time in 11 games.

Pelicans All-Star forward Anthony Davis missed his second consecutive game because of lower back spasms. Buddy Hield led Sacramento with 27 points, but he missed a 3-point attempt with four seconds left that would have tied the game.

–Field Level Media

Source: OANN

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Troubled Secret Service Faces New Leadership – Again

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The Secret Service, the once vaunted force charged with protecting the president, is again bracing for new leadership – the third director to helm the troubled agency in five years.

The White House on Monday announced that Randolph “Tex” Alles would be stepping down amid a shakeup at the Department of Homeland Security, where DHC Secretary Kirstjen Nielsen was forced to resign, effective April 10. Trump tapped James Murray, a career Secret Service agent and official who is currently the assistant director of the Office of Protective Operations, as the agency’s new director.

Murray also has served as Secret Service’s liaison to Congress, the special agent in charge of the Washington field office and held the top leadership role at the agency’s training center in Maryland.

There was no immediate reason given for Alles’ departure, which appeared to be part of a housecleaning of sorts of DHS officials with ties to John Kelly, President Trump’s former chief of staff and, prior to that, secretary of Homeland Security. The moves coincides with White House senior adviser Stephen Miller, an immigration hardliner, taking over the DHS portfolio.

Kelly is a retired U.S. Marine Corps general who was pushed out of the administration at the end of last year after months tangling with Trump and other White House officials. Kelly helped pull in Alles, a former major general in the Marine Corps, to lead the Secret Service, at the beginning of Trump’s presidency.

In a memo to other Secret Service officials and staff on Monday, Alles denied being fired and said administration officials had told him “weeks” ago – before a serious security breach at Mar-a-Lago — to plan for “transitions in leadership” across DHS.

“No doubt you have seen media reports regarding my ‘firing,’” he wrote in the memo addressed to “All the Men and Women of the U.S. Secret Service” and obtained by RealClearPolitics.

“I assure you that is not the case, and in fact was told weeks ago by the administration that transitions in leadership should be expected across the Department of Homeland Security,” he wrote.

“The president has directed an orderly transition in leadership for this agency, and I intend to abide by that direction. It is my sincere regret that I was not able to address the workforce prior to this announcement,” he continued.

Both Alles and the administration made it clear that the arrest of a Chinese woman carrying a malware-laced device at Mar-a-Lago did not lead to the director’s departure. An administration source told RCP the decision “has been in the works for two weeks and is no way related” to the Mar-a-Lago incident.

Alles, in his staff memo, also called Murray a “consummate professional, a true leader” and someone whose capabilities have earned his confidence.

At the beginning of his administration, Trump followed recommendations made by a blue-ribbon panel convened in 2014 at the height of several Secret Service scandals to tap an “outsider” to head the agency.

Alles was the first non-Secret Service employee to be named director in the agency’s storied history. The panel, and several key members of Congress, all called for a new director who was unconnected to the current and former leadership who could truly change the insular culture and uneven discipline partially responsible for low morale.

Before that recommendation, President Obama named Julia Pierson, a career agency official, to be the first woman Secret Service director. Even after the recommendation, he turned to known quantity Joseph Clancy to replace Pierson when security lapses continued. Clancy had served as the head of the service’s presidential protective division during Obama’s time in office before retiring. Obama brought him back to try to reform the agency, but it continued experiencing security breaches, as well as discipline and retention problems.

Murray is very well-liked and respected but it’s unclear if he can truly shake up the culture to make necessary changes, sources close to the Secret Service community told RCP.

In order to fix the morale problem, one source said Murray needs “to set friendship aside and promote competence, fairness – [that’s] easier said than done in D.C.”

Gary Byrne, a former Secret Service Uniformed Division officer who wrote a tell-all book about the Clintons and their misbehavior in the White House and another about the history of the service, said the agency on Monday was reeling after the announcement of Alles’ departure and Murray’s ascension.

Even though Murray is well-respected, he said officers he’s talked to “still want somebody from the outside” to lead the agency.

“They just keep repeating the same mistakes,” Byrne said of the quick succession of directors.

“Nothing has really changed – unless they fix the problem with the Uniformed Division pay scale and reduce the number of hours everyone is working. It’s an insane amount of hours these guys work,” he said.

The agency’s uneven discipline problems and claims of top officials contributing to a culture of corruption have also exacerbated tensions among the rank and file.

In the first few weeks of the Trump administration, a senior Secret Service agent faced an internal disciplinary investigation after posting on Facebook that she would not take a bullet for the new president. But the agency declined to act on a complaint about Kerry O’Grady, the senior agent in question, until a media report exposed the Facebook post.

After nearly two years on paid administrative leave, O’Grady is being allowed to leave the service in just a few weeks virtually unscathed financially with her retirement largely intact.

“They let her get away with what she did because they didn’t want her spilling the beans on the dirt of the Secret Service,” Byrne said, noting that it “absolutely degraded morale.”

“The senior officials and staff of the Secret Service knew what was going on … and they were ignoring her behavior until” the issue became public and others in the community started to “raise a stink,” Byrne said.

In recent years, the Secret Service has ranked either dead last or near the bottom of a government employee survey of job satisfaction conducted annually by the nonpartisan Partnership for Public Service. The agency’s most-recent ranking, released late last year, is near the bottom at No. 398.

Many of the morale problems are tied to agents’ and officers’ crushing workload -- long hours amid increased security demands from the White House and in protecting presidential candidates in recent years, as well as lagging employment recruitment and poor retention rates.

As of August of 2017, just nine months into the Trump presidency, more than 1,000 agents had hit their federally mandated caps for salary and overtime allowances that were meant to cover the entire year.

Responding to that crisis, Alles was able to convince Congress to provide more funding in a 2018 bill aptly titled the Secret Service Recruitment and Retention Act, but it mainly played a stop-gap role in fixing the overtime funding shortfall.

Solving the underlying workload issues would mean expanding the Secret Service workforce, giving each agent and officer time to take longer breaks from duty to recharge and attend training sessions to sharpen skills.

Trump’s 2019 budget aimed to accomplish this by providing hundreds of millions of dollars more to support an additional 450 agents and officers for a total of 7,600 positions by the end of the fiscal year. However, the DHS inspector general testified to Congress last year that even that number is insufficient – that the agency needs a total of 8,200 personnel, 1,700 more than it currently has.

After Congress provided more money for overtime, agents are now getting paid for all the work they do but are still working far too many hours and being stretched too thin, insiders say.

“If you’re working 120 hours a pay period, which a lot of these guys are, you’re still working too much,” Byrne said.

Susan Crabtree is a veteran Washington reporter who has spent two decades covering the White House and Congress.

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Deja vu: No. 2 Michigan KOs Montana in first round

NCAA Basketball: NCAA Tournament-First Round-Montana vs Michigan
Mar 21, 2019; Des Moines, IA, United States; Michigan Wolverines guard Charles Matthews (1) reacts during the first half against the Montana Grizzlies in the first round of the 2019 NCAA Tournament at Wells Fargo Arena. Mandatory Credit: Steven Branscombe-USA TODAY Sports

March 22, 2019

Senior guard Charles Matthews recorded 22 points and 10 rebounds to lead Michigan to a 74-55 victory over Montana on Thursday in West Region play of the NCAA Tournament at Des Moines, Iowa.

Freshman forward Ignas Brazdeikis added 14 points, and junior center Jon Teske had 11 points and nine rebounds for the second-seeded Wolverines (29-6). Sophomore guard Jordan Poole scored 10 points, and junior guard Zavier Simpson registered 10 assists and seven rebounds.

Michigan will meet 10th-seeded Florida on Saturday in the second round.

“We will need to play even better than we did today,” Wolverines coach John Beilein told TNT in a postgame interview of his team’s prospects against the Gators.

Junior guard Sayeed Pridgett scored 17 points for the 15th-seeded Grizzlies (26-9). Senior guard Ahmaad Rorie and sophomore guard Timmy Falls added 10 points apiece for Montana, which shot just 33.3 percent from the field and was 6 of 24 from behind the arc.

The Wolverines shot 49 percent from the field, including 5 of 17 from 3-point range.

The game was a rematch of last season’s first-round matchup when the Wolverines beat the Grizzlies 61-47.

Montana scored the first 10 points of last year’s meeting but was never in the contest this time around and trailed by as many as 17 points in the first half.

However, the Grizzlies kept fighting, and they scored the first five points of the second half to move within 34-26.

Michigan answered with 10 consecutive points — five from Matthews — to increase its lead to 18 with 16:11 remaining.

The Wolverines’ advantage reached 20 for the first time when Poole converted a three-point play to make it 57-37 with 8:29 left.

The lead reached 66-39 when sophomore forward Isaiah Livers drained a 3-pointer with 6:01 left, and Michigan cruised to the finish.

Matthews had 11 points and seven rebounds as the Wolverines led 34-21 at the break.

Michigan ran out to a quick 15-4 lead and increased it to 21-6 on Matthews’ basket with 8:26 remaining. A jumper by Matthews two-plus minutes later pushed the margin to 25-8.

Montana missed its first nine 3-point attempts until senior guard Donaven Dorsey buried one with 2:52 remaining in the half. The Grizzlies were 1 of 11 from long distance before intermission.

–Field Level Media

Source: OANN

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BBC Ordered to Pay Damages for Fake News About Trump and Ukraine President

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New Zealand observes Muslim prayer after mosque attacks

People across New Zealand are observing the Muslim call to prayer as the nation reflects on the moment one week ago when 50 people were slaughtered at two mosques.

Prime Minister Jacinda Ardern and thousands of others congregated in leafy Hagley Park opposite the Al Noor mosque in Christchurch to observe the call to prayer early Friday afternoon.

Thousands more were listening in on the radio or watching on television as the event was broadcast live. The prayer was followed by two minutes of silence.

The observance comes the day after the government announced a ban on "military-style" semi-automatic firearms and high-capacity magazines like the weapons that were used in last Friday's attacks.

Source: Fox News World

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Members of The Cranberries, bassist Mike Hogan, drummer Fergal Lawler and guitarist Noel Hogan speak to Reuters during an interview in London
Members of The Cranberries, bassist Mike Hogan, drummer Fergal Lawler and guitarist Noel Hogan speak to Reuters during an interview in London, Britain, April 24, 2019. REUTERS/Gerhard Mey

April 26, 2019

By Hanna Rantala

LONDON (Reuters) – Irish rockers The Cranberries are saying goodbye with their final album released on Friday, a poignant tribute to lead singer Dolores O’Riordan who died last year.

“In the End” is the eighth studio album from the band that rose to fame in the early 1990s with hits likes “Zombie” and “Linger”, and includes the final recordings by O’Riordan, who drowned in a London hotel bath in January 2018 due to alcohol intoxication.

Work on the album began during a 2017 tour and by that winter, O’Riordan and guitarist Neil Hogan had penned and demoed 11 tracks.

With O’Riordan’s vocals recorded, Hogan, bassist Mike Hogan and drummer Fergal Lawler completed the album in tribute to her.

“When we realized how strong the songs were, that was the deciding factor really… There was no point… trying to ruin the legacy of the band,” Noel Hogan said in an interview.

“It was obvious that Dolores wanted this album done because when you hear the album, you hear the songs and how strong they are, and she was very, very excited to get in and record this.”

The Cranberries formed in Limerick in 1989 with another singer. O’Riordan replaced him a year later and the group went on to become Ireland’s best-selling rock band after U2, selling more than 40 million records.

O’Riordan, known for her strong distinctive voice singing about relationships or political violence, was 46 when she died.

“She was actually in quite a good place mentally. She was feeling quite content and strong and looking forward to a new phase of her life,” Lawler said.

“A lot of the lyrics in this album are about things ending… people might read into it differently but it was a phase of her personal life that she was talking about.”

The group previously announced their intention to split after the release of “In The End”.

“We are absolutely gutted we can’t play (the songs) live because that’s something that’s been a massive part of this band from day one,” Noel Hogan said.

“A few people have said to us about maybe even doing a one off where you have different vocalists… as kind of guests of ours. A year ago that’s definitely something we weren’t going to entertain but I don’t know, I think it’s something we need to go away and take time off for the summer and have a think about.”

Critics have generally given positive reviews of the album; NME described it as “(seeing) the band’s career go full-circle” while the Irish Times called it “an unexpected late career high and a remarkable swan song for O’Riordan”.

Their early songs still play on the radio. This week, “Dreams” was performed at the funeral of journalist Lyra McKee, who was shot dead in Londonderry last week as she watched Irish nationalist youths attack police following a raid.

“We wrote them as kids, as a hobby and 30 years later they are on radio and on TV, like all the time… That’s far more than any of us ever thought we would have,” Noel Hogan said.

“That would make Dolores really happy because she was very precious about those songs. Her babies, she called them and to have that hopefully long after we’re gone… that’s all any band can wish for.”

(Reporting by Hanna Rantala; additoinal reporting by Marie-Louise Gumuchian; Writing by Marie-Louise Gumuchian; Editing by Susan Fenton)

Source: OANN

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2020 Democratic presidential candidate Elizabeth Warren participates in the She the People Presidential Forum in Houston
2020 Democratic presidential candidate Elizabeth Warren participates in the She the People Presidential Forum in Houston, Texas, U.S. April 24, 2019. REUTERS/Loren Elliott

April 26, 2019

By Joshua Schneyer and M.B. Pell

NEW YORK (Reuters) – Senator Elizabeth Warren will introduce a bill Friday that offers new protections for U.S. military families facing unsafe housing, following a series of Reuters reports revealing squalid conditions in privately managed base homes.

The Reuters reports and later Congressional hearings detailed widespread hazards including lead paint exposure, vermin infestations, collapsing ceilings, mold and maintenance lapses in privatized base housing communities that serve some 700,000 U.S. military family members.

(View Warren’s military housing bill here. https://tmsnrt.rs/2Dy5aht)

(Read Reuters’ Ambushed at Home series on military housing here. https://www.reuters.com/investigates/section/usa-military)

The Massachusetts Democrat’s bill would mandate both regular and unannounced spot inspections of base homes by certified, independent inspectors, holding landlords accountable for quickly fixing hazards. The military’s privatization program for years allowed real estate firms to operate base housing with scant oversight, Reuters found, leaving some tenants in unsafe homes with little recourse against landlords.

The bill would also require the Department of Defense and its private housing operators to publish reports annually detailing housing conditions, tenant complaints, maintenance response times and the financial incentives companies receive at each base. The provisions aim to enhance transparency of housing deals whose finances and operations the military had allowed to remain largely confidential under a privatization program since the late 1990s.

The measure would also require private landlords to cover moving costs for at-risk families, and healthcare costs for people with medical conditions resulting from unsafe base housing, ensuring they receive continuing coverage even after they leave the homes or the military.

“This bill will eliminate the kind of corner-cutting and neglect the Defense Department should never have let these private housing partners get away with in the first place,” Warren said in a statement Friday.

The proposed legislation comes after February Senate hearings where Warren, a member of the Senate Armed Services Committee who is seeking the Democratic nomination for the 2020 U.S. presidential election, slammed private real estate firms for endangering service families, and sought answers about why military branches weren’t providing more oversight.

Her legislation would direct the Defense Department to allow local housing code enforcers onto federal bases, following concerns they were sometimes denied access. Warren’s office said a companion bill in the House of Representatives would be introduced by Rep. Deb Haaland, Democrat of New Mexico.

In response to the housing crisis, military branches are developing a tenant bill of rights and hiring hundreds of new housing staff. The branches recently dispatched commanders to survey base housing worldwide for safety hazards, resulting in thousands of work orders and hundreds of tenants being moved. The Defense Department has pledged to renegotiate its 50-year contracts with private real estate firms.

Congress has been quick to take its own measures. Earlier legislation proposed by senators Dianne Feinstein and Kamala Harris of California, along with Mark Warner and Tim Kaine of Virginia, would compel base commanders to withhold rent payments and incentive fees from the private ventures if they allow home hazards to persist.

(Editing by Ronnie Greene)

Source: OANN

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FILE PHOTO: Offices of Deloitte are seen in London
FILE PHOTO: Offices of Deloitte are seen in London, Britain, September 25, 2017. REUTERS/Hannah McKay/File Photo

April 26, 2019

By Noor Zainab Hussain and Tanishaa Nadkar

(Reuters) – Deloitte quit as Ferrexpo’s auditor on Friday, knocking its shares by more than 20 percent, days after saying it was unable to conclude whether the iron ore miner’s CEO controlled a charity being investigated over its use of company donations.

Blooming Land, which coordinates Ferrexpo’s Corporate Social Responsibility (CSR) program, came under scrutiny after auditors found holes in the charity’s statements.

Ferrexpo on Tuesday said findings of an ongoing independent investigation launched in February indicated some Blooming Land funds could have been “misappropriated”. It did not provide any details or publish its findings.

Shares in Ferrexpo, the third largest exporter of pellets to the global steel industry, were 23.4 percent lower at 206.1 pence at 1022 GMT following news of Deloitte’s resignation.

“Ferrexpo’s shares are deeply discounted vs peers … following the resignation of Deloitte, we expect downside risks to dominate Ferrexpo’s shares near term.” JP Morgan analyst Dominic O’Kane said in a note on Friday.

Swiss-headquartered Ferrexpo did not provide a reason for the resignation of Deloitte, which declined to comment, while Blooming Land did not respond to a request for comment.

Funding for Blooming Land’s CSR activities is provided by one of Ferrexpo’s units in Ukraine and Khimreaktiv LLC, an entity ultimately controlled by Ferrexpo’s CEO and majority owner Kostyantin Zhevago, Ferrexpo said on Tuesday.

Ferrexpo’s board has found that Zhevago did not have significant influence or control over the charity, but Deloitte said it was unable reach a conclusion on this.

Reuters was not immediately able to contact Zhevago.

In a qualified opinion, a statement addressing an incomplete audit, Deloitte said it had been unable to conclude whether $33.5 million of CSR donations to Blooming Land between 2017 and 2018 was used for “legitimate business payments for charitable purposes”.

Deloitte said on Tuesday that total CSR payments made to Blooming Land by Ferrexpo since 2013 total about $110 million.

Ferrexpo, whose major mines are in Ukraine, has said that the investigation was ongoing and new evidence pointed to potential discrepancies.

Zhevago, 45, who ranked 1,511 on Forbes magazine’s list of billionaires for 2019 with a net worth of $1.4 billion, owns the FC Vorskla soccer club and has been a member of Ukraine’s parliament since 1998.

(Reporting by Noor Zainab Hussain and Tanishaa Nadkar in Bengaluru and additional reporting by Pavel Polityuk in Kiev; editing by Gopakumar Warrier, Bernard Orr)

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Children walk past a damaged building in the aftermath of the Cyclone Kenneth in Pemba
Children walk past a damaged building in the aftermath of the Cyclone Kenneth in Pemba, Mozambique April 26, 2019 in this still image obtained from social media. SolidarMed via REUTERS ATTENTION EDITORS – THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY. MANDATORY CREDIT. NO RESALES. NO ARCHIVES

April 26, 2019

By Emma Rumney and Stephen Eisenhammer

JOHANNESBURG/LUANDA (Reuters) – Cyclone Kenneth killed at least one person and left a trail of destruction in northern Mozambique, destroying houses, ripping up trees and knocking out power, authorities said on Friday.

The cyclone brought storm surges and wind gusts of up to 280 km per hour (174 mph) when it made landfall on Thursday evening, after killing three people in the island nation of Comoros.

It was the most powerful storm on record to hit Mozambique’s northern coast and came just six weeks after Cyclone Idai battered the impoverished nation, causing devastating floods and killing more than 1,000 people across a swathe of southern Africa.

The World Food Programme warned that Kenneth could dump as much as 600 millimeters of rain on the region over the next 10 days – twice that brought by Cyclone Idai.

One woman in the port town of Pemba died after being hit by a falling tree, the Emergency Operations Committee for Cabo Delgado (COE) said in a statement, while another person was injured.

In rural areas outside Pemba, many homes are made of mud. In the main town on the island of Ibo, 90 percent of the houses were destroyed, officials said. Around 15,000 people were out in the open or in “overcrowded” shelters and there was a need for tents, food and water, they said.

There were also reports of a large number of homes and some infrastructure destroyed in Macomia district, a mainland district adjacent to Ibo.

A local group, the Friends of Pemba Association, had earlier reported that they could not reach people in Muidumbe, a district further inland.

Mark Lowcock, United Nations under-secretary-general for humanitarian affairs, warned the storm could require another major humanitarian operation in Mozambique.

“Cyclone Kenneth marks the first time two cyclones have made landfall in Mozambique during the same season, further stressing the government’s limited resources,” he said in a statement.

FLOOD WARNINGS

Shaquila Alberto, owner of the beach-front Messano Flower Lodge in Macomia, said there were many fallen trees there, and in rural areas people’s homes had been damaged. Some areas of nearby Pemba had no power.

“Even my workers, they said the roof and all the things fell down,” she said by phone.

Further south, in Pemba, Elton Ernesto, a receptionist at Raphael’s Hotel, said there were fallen trees but not too much damage. The hotel had power and water, he said, while phones rang in the background. “The rain has stopped,” he added.

However Michael Charles, an official for the International Federation of the Red Cross and Red Crescent Societies (IFRC), said heavy rains over the next few days were likely to bring a “second wave of destruction” in the form of flooding.

“The houses are not all solid, and the topography is very sandy,” Charles said.

In the days after Cyclone Idai, heavy inland rains prompted rivers to burst their banks, submerging entire villages, cutting areas off from aid and ruining crops. There were concerns the same could happen again in northern Mozambique.

Before Kenneth hit, the government and aid workers moved around 30,000 people to safer buildings such as schools, however authorities said that around 680,000 people were in the path of the storm.

(Reporting by Emma Rumney and Stephen Eisenhammer; Writing by Emma Rumney; Editing by Janet Lawrence and Alexandra Zavis)

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A worker holds a nozzle to pump petrol into a vehicle at a fuel station in Mumbai
FILE PHOTO: A worker holds a nozzle to pump petrol into a vehicle at a fuel station in Mumbai, India, May 21, 2018. REUTERS/Francis Mascarenhas

April 26, 2019

By Manoj Kumar and Nidhi Verma

NEW DELHI (Reuters) – Surging global oil prices will pose a first big challenge to India’s new government, whoever wins an election now under way, especially as domestic prices have been allowed to lag, meaning consumers are in for a painful surge as they catch up.

For oil-import dependent India, higher global prices could lead to a weaker rupee, higher inflation, the ruling out of interest rate cuts and could further weigh on twin current account and budget deficits, economists warned.

But compounding the future pain, state-run fuel suppliers and retailers have held off passing on to consumers the higher prices during a staggered general election, which began on April 11 and ends on May 23, according to sources familiar with the situation.

That delay is expected to be unwound once the election is over. And there could be additional price increases to make up for losses or profits missed during the period of delayed increases, the sources said.

In some major Asian countries, such as Japan and South Korea, pump prices are adjusted periodically so they move largely in tandem with international crude prices.

That was what was supposed to happen in India but the election means there have been many days when pump prices have been unchanged.

In New Delhi, for example, while crude oil prices have gone up by nearly $9 a barrel, or about 12 percent, in the past six weeks, gasoline prices have only risen by 0.47 rupees a liter, or 0.6 percent.

State-controlled fuel suppliers and retailers declined to say why they had delayed price increases, or discuss whether there has been any pressure from the government of Prime Minister Narendra Modi.

A government spokesman declined to comment.

The opposition Congress party said Modi’s government was violating its own policy of daily price revision by advising the state oil companies to hold prices steady.

“The government should cut fuel taxes otherwise consumers will have to pay much higher oil prices once the elections are over,” said Akhilesh Pratap Singh, a senior leader of the Congress party.

(GRAPHIC: India Polls: Fuel price hike lags crude surge – https://tmsnrt.rs/2XLlxik)

Nitin Goyal, treasurer at the All India Petroleum Dealers Association, representing fuel stations in 25 states, said prices were similarly held down for 19 days in the southern state of Karnataka last year, when it held state assembly elections.

Only for them to surge after the vote.

“Consumers should be ready for a rude shock of a massive jump in retail prices, similar to the level we have seen in the Karnataka state election,” Goyal said.

‘CREDIT NEGATIVE’

Sri Paravaikkarasu, director for Asia oil at Singapore-based consultancy FGE, said retail prices of gasoline and gasoil prices would have been up to 6 percent, or about 4 rupee, higher if they had been allowed to rise in line with global prices.

“Indian pump prices have failed to keep up with the recent uptrend in crude prices,” Paravaikkarasu said.

“With the country’s general elections underway, the incumbent government has been keeping pump prices relatively unchanged.”

India had switched to a daily price revision in June 2017 from a revision every two weeks, as the government allowed retailers to set prices.

But the government faced protests last October when retailers raised prices by up to 10 rupees a liter after the crude oil price went above $80 a barrel, forcing it to cut fuel taxes.

Global prices rose to their highest level in 2019 on Thursday, days after the United States announced all Iran sanction waivers would end by May, pressuring importers including India to stop buying Tehran’s oil. [O/R]

Higher oil prices will mean Asia’s third largest economy is likely to see growth of less than 7 percent rate this fiscal year, economists said. Growth slowed to 6.6 percent in the October-December quarter, the slowest in five quarters.

Rating agency CARE has warned that a 10 percent rise in global oil prices could increase demand for dollars, putting pressure on the rupee and widening the current account deficit.

India’s oil import bill rose by nearly one-third in the fiscal year ending March 31 to $140.5 billion, against $108 billion the previous year.

“The increase in international oil prices is a credit negative for the Indian economy,” ICRA, the Indian arm of the Fitch rating agency, said in a note.

“Every $10/ bbl increase in crude oil prices increases the fiscal deficit by about 0.1 percent of GDP.”

Any big price rise would also build a case for the central bank to keep rates steady, or even raise them.

The Reserve Bank of India’s Monetary Policy Committee, which cut the benchmark policy repo rate by 25 basis points this month, warned that rising oil and food prices could push up inflation.

Policymakers are worried that a sustained increase in the oil price in the range of $70-75/barrel or higher can move the rupee down by 3-4 percent on an annual basis.

The rupee has depreciated by 1.24 percent against the dollar since a year high in mid-March.

($1 = 70.1800 Indian rupees)

(Reporting by Manoj Kumar and Nidhi Verma; Editing by Martin Howell and Rob Birsel)

Source: OANN

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