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Goldman expects legal losses to be up to $1.9 billion more than reserve

FILE PHOTO: The ticker symbol and logo for Goldman Sachs is displayed on a screen on the floor at the NYSE in New York
FILE PHOTO: The ticker symbol and logo for Goldman Sachs is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., December 18, 2018. REUTERS/Brendan McDermid/File Photo

February 26, 2019

(Reuters) – Goldman Sachs Group Inc said it expects losses related to ongoing lawsuits to be about up to $1.9 billion more than the money it set aside for legal matters.

In September, the investment bank had expected losses to be $1.8 billion in excess of its reserve. The bank did not give specific details on why it raised its loss estimate.

The amount disclosed in Tuesday’s filing is considered a separate accounting item from legal reserves, and covers all matters considered “reasonably possible”.

Apart from the lawsuits Goldman is already facing, it is being investigated by Malaysian authorities and the U.S. Department of Justice for its role as underwriter and arranger of three bond sales that raised $6.5 billion for 1Malaysia Development Berhad.

The Malaysian government said in December it was seeking up to $7.5 billion in reparations from Goldman over its dealings with 1MDB.

The bank added $844 million to its legal and regulatory provisions last year, more than four times what it set aside in 2017, though it did not specify the purpose.

(Reporting By Elizabeth Dilts and Aparajita Saxena; Editing by Saumyadeb Chakrabarty)

Source: OANN

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Tel Aviv tries out new crosswalk lights for cellular addicts

A woman holds children hands near a pedestrian crossing as they look at newly installed ground-level crosswalk lights, in Tel Aviv, Israel
A woman holds children hands near a pedestrian crossing as they look at newly installed ground-level crosswalk lights, in Tel Aviv, Israel March 14, 2019. REUTERS/Corinna Kern

March 14, 2019

TEL AVIV (Reuters) – Israel’s bustling business capital wants to stop “smartphone zombies” in their tracks.

Tel Aviv has placed ground-level LED lightstrips, which turn red and green, at a central crosswalk, hoping to catch the attention of pedestrians so engrossed in their mobile devices that they don’t look up before stepping into the road.

Similar trials have been carried out in Singapore, Australia and Germany.

Tomer Dror, head of Tel Aviv’s traffic management division, said walkers have been noticing the lightstrips, which began operating several days ago.

But Alex Shneider, a 32-year-old biologist who crossed the intersection on green while looking at his phone, said he never saw the signal.

“I was too occupied on the phone itself and I wasn’t paying attention to the light,” he said – after nearly bumping into a Reuters TV cameraman filming at the junction.

(Writing by Jeffrey Heller; Editing by Mark Heinrich)

Source: OANN

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Four EU countries to take rescued migrants after Med standoff

FILE PHOTO: Rescued migrants rest on rescue ship 'Alan Kurdi' off coast of Malta
FILE PHOTO: Rescued migrants rest on the migrant rescue ship 'Alan Kurdi', operated by German NGO Sea-Eye, during a delivery of supplies by the NGO Migrant Offshore Aid Station (MOAS) off the coast of Malta April 9, 2019. REUTERS/Darrin Zammit Lupi/File Photo

April 13, 2019

VALLETTA (Reuters) – Four European Union countries have agreed to take in 64 African migrants rescued by the German ship Alan Kurdi and stranded at sea for almost two weeks, the Maltese government announced on Saturday.

The ship, operated by the humanitarian organization Sea-Eye, had been refused entry by Italy and Malta, but two migrants were evacuated to Malta earlier this week because of poor health.

Both countries had insisted it was Libya’s responsibility to take in the boat, Sea Eye said earlier in the week.

The Maltese government said that through the coordination of the European Commission, the migrants will be redistributed among Germany, France, Portugal and Luxembourg.

“None of the migrants will remain in Malta. The ship Alan Kurdi will not be allowed to enter Malta,” the government said.

“Once again the smallest member of the European Union was put under unnecessary pressure, being asked to resolve a case which was neither its responsibility nor its remit,” the government added.

“A solution was found in order not to let the situation deteriorate further while making it clear Malta cannot keep shouldering this burden.”

In March, Malta received 108 migrants after the small tanker which rescued them was hijacked by some of the migrants themselves. Maltese soldiers stormed the vessel and escorted it to Malta.

Three teenagers have since been taken to court and are under arrest. 

(Reporting by Chris Scicluna; Editing by Jan Harvey)

Source: OANN

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UK factories stockpile for Brexit at fastest pace since records began in 1950s: CBI

An employee looks up at goods at the Miniclipper Logistics warehouse in Leighton Buzzard
FILE PHOTO: An employee looks up at goods at the Miniclipper Logistics warehouse in Leighton Buzzard, Britain December 3, 2018. REUTERS/Simon Dawson

April 26, 2019

LONDON, April 26 – British factories stockpiled raw materials and goods ahead of Brexit at the fastest pace since records began in the 1950s, and they were increasingly downbeat about their prospects, a survey showed on Friday.

The Confederation of British Industry’s (CBI) quarterly survey of the manufacturing industry showed expectations for export orders in the next three months fell to their lowest level since mid-2009, when Britain was reeling from the global financial crisis.

The record pace of stockpiling recorded by the CBI was mirrored by the closely-watched IHS Markit/CIPS purchasing managers’ index published earlier this month.

(Reporting by Andy Bruce, editing by David Milliken)

Source: OANN

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Deutsche Telekom says customers, operators pay price for 5G auction

Tim Hoettges, CEO of Deutsche Telekom AG stands in front of regular GSM antenna equipped with 5G technology of multi-national network infrastructure provider Commscope during the company's AGM in Bonn
Timotheus Hoettges, CEO of Deutsche Telekom AG, stands in front of a regular GSM antenna equipped with 5G technology of multi-national network infrastructure provider Commscope during the company's annual shareholder meeting in Bonn, Germany March 28, 2019. REUTERS/Wolfgang Rattay

April 10, 2019

BERLIN (Reuters) – The CEO of Deutsche Telekom criticized the amount companies will have to pay to get fifth generation mobile internet spectrum in Germany as the amount of total bids approached 5 billion euros ($5.6 billion) on Wednesday.

“This money is taken away from the customers, citizens and operators,” Timotheus Hoettges said at a conference in Berlin.

“You can only spend the euro once,” he said, adding that 4.6 billion euros equal 23,000 mobile sites that the industry cannot build.

(Reporting by Nadine Schimroszik; writing by Thomas Seythal; editing by Tassilo Hummel)

Source: OANN

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Hungary's Orban to attend meeting on party's possible ouster

Hungarian Prime Minister Viktor Orban is traveling to Brussels to attend a meeting of the main center-right alliance in the European Parliament, set to discuss the expulsion or suspension of Orban's Fidesz party from the group.

Thirteen of the European People's Party's 49 full members are calling for Fidesz's ouster after years of conflict. Some members believe Orban has strayed too far from the alliance's Christian Democratic values.

The EPP delegates will meet Wednesday in Brussels.

Manfred Weber, the EPP candidate to succeed Jean-Claude Juncker as president of the European Commission, has called on Orban to meet certain conditions to stay in the alliance, like putting an end to the anti-EU campaigns.

Source: Fox News World

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Coexistence in a ‘danger’ zone: An inside look at Israeli settlement in the West Bank

Now that Benjamin Netanyahu is set to serve a fifth term as Israel’s prime minister, he could extend Israeli sovereignty over parts of the West Bank -- something he promised to do if re-elected. The move would put an end to decades of Israel’s policy recognizing that the lands it seized in the Six-Day War in 1967 would be part of a negotiated settlement with Palestinians.

Netanyahu made the promise during the final stretch of his election campaign, as he competed for votes with right-wing parties that support annexing part of the West Bank.

David Ha’ivri is a Jewish resident of Kfar Tapuach, an Israeli settlement in Samaria, which is located in the area also known as the West Bank. Ha’ivri said he was “very happy” that Netanyahu is heading toward a record fifth term in office, especially because in interviews in the days before the election, Netanyahu vowed to begin annexing Israeli settlements in the West Bank if re-elected.

According to The Times of Israel, Netanyahu’s pledge came a day after he said on Israel’s Channel 13 news that he told President Trump that he would not evacuate “a single person” from any of the settlements.

NETANYAHU SAYS IF RE-ELECTED HE WILL EXTEND ISRAELI SOVEREIGNTY OVER WEST BANK

If Netanyahu follows through on the promise, it would mark a dramatic development and potentially destroy the already diminishing hope for Palestinian statehood.

Ahmed Majdalani, an aide to Palestinian President Mahmoud Abbas, said the Palestinians will seek the help of the international community to try to block plans to annex parts of the West Bank.

The West Bank is currently home to about 2.8 million Palestinian Arabs and 400,000 Jewish residents in 127 communities commonly referred to as settlements. Israel took control of the land in 1967 and allowed Jewish settlers to move in, but Palestinians consider the West Bank illegally occupied Palestinian land.

Ha'ivri and his wife have lived in the Israeli settlement Kfar Tapuach for nearly three decades and raised their eight children there. Neither he nor the 220 Jewish families in the village are welcome in the Palestinian controlled communities, including the one that is a short walk from his home called Yasuf. The entrance to the Arab village, which is under complete control of the Palestinian Authority, has a sign that reads, “This Road Leads to Palestinian Village The Entrance For Israeli Citizens Is Dangerous."

Sign outside the Arab village of Yasuf

Sign outside the Arab village of Yasuf

"It's very unfortunate that there are people who don't want us to live here. This is our home, this is our homeland. This is where the Jewish people need to be," said Ha'ivri.

He thinks it's important to live in the place where his ancestors have lived continuously for thousands of years. It is a feeling shared by many other Jewish people in Samaria including Eliyahu Hillel who owns Kabir Winery in Elon Moreh, an Orthodox Jewish Israeli settlement.

SHOOTING NEAR WEST BANK SETTLEMENT KILLS AT LEAST 2 ISRAELIS

“I’m living in the Bible. For me, the Bible is not history. It’s actuality, it’s present,” said Hillel, whose primary language is Hebrew.

He has lived in Elon Moreh for 35 years and raised his six kids in the Israeli settlement.

Hillel said he doesn’t mind having Palestinians as neighbors.

"It's not dangerous here. It's really, really paradise here,” said Hillel.

When asked if he ever feels like his family is in danger he answered, “Not very, not very."

ISRAELI ARMY PROBES SHOOTING DEATH OF WEST BANK PALESTINIAN

In addition to the wineries, there are many factories in Samaria. Israelis are not permitted to work in Palestinian controlled territories but, according to local officials, most of the factory workers are Palestinian at the three industrial parks in Israeli-controlled Samaria.

"This (is an) injection molding factory named ‘Twitoplast,’ we do all the product(s) for the air condition business," said Moshe Lev-ran, Twitoplast’s Export Manager, as he described the factory which is in an industrial zone in Samaria called Barkan. He said the factory has about 150 employees and half are Palestinian.

When a Palestinian employee was asked if he likes working at Twitoplast he said "yes," adding that he doesn’t mind working with Jewish people. The employee doesn’t speak English and when asked in Hebrew if there are any problems he answered, “I am supposed to bring food for my kids, what am I supposed to do?”

Sofian Dagger is a Palestinian employee at Twitoplast, an Israeli plastics company in the West Bank. 

Sofian Dagger is a Palestinian employee at Twitoplast, an Israeli plastics company in the West Bank. 

Sofian Dagger, the plant manager, is also Palestinian. He has been working at Twitoplast for 20 years. He also does not speak English and when asked in Hebrew how it is for him to work in a factory with Jewish people and Arabs together he said, “We work together, it’s fine.”

When asked if he ever encounters any problems working for an Israeli company he said in Hebrew, “None at all. All my brothers, I have seven brothers, they all work for Jewish people.”

Dagger says he chose to work at Twitoplast because “the money is good," adding that the salary is better than any other place in the area. Dagger said that his son also works at the factory for the same reason.

According to Lev-ran, Twitoplast employees earn about 15-hundred dollars a month, which is more than double the wages of those employed in the Palestinian Authority, or PA governed areas. Palestinian employees at the factory also get benefits like social security, which Lev-ran said, they wouldn't receive if they worked in areas governed by the PA.

Since Israelis and Palestinians work well together at Twitoplast, Dagger wonders why there can’t be peace everywhere.

Sofian Dagger, Palestinian employee at Twitoplast 

Sofian Dagger, Palestinian employee at Twitoplast 

“I am asking everyone that there will be peace for everyone in the whole world. Not just in Israel, not just in Palestine, not just in America. We need peace, for the sake of the children. It’s a shame to have wars, it’s a shame,” said Dagger.

When asked if he thinks peace can be achieved he said, “Why not? It can happen.”

Lev-ran said he hopes Twitoplast proves that Palestinians and Israelis can coexist. He thinks peace will come when Palestinians prosper.

"A Palestinian that wake(s up) at 4 o'clock in the morning to come to work. He think(s) only one thing, how to bring food to his kids, that's what he think(s). He doesn't think how to kill me,” said Lev-ran. “So they ask me if I'm not worried when I come here to work. I'm not worried at all, we don't carry weapons here. I'm more worried in my Kibbutz (a communal settlement in Israel), which is near Gaza that I have 30 seconds to run to the shelter house when they shoot me a rocket, the Hamas. But if I provide the people in Gaza Strip work, they will fight against the Hamas and nobody will shoot me a rocket."

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When asked what he thinks about a company like Twitoplast, where Palestinians and Israelis work together, Ha'ivri answered, “I think that that is wonderful and I think that many people outside of this area are not aware of those facts on the ground.”

The Associated Press contributed to this report. The video for this story was shot and edited by Talia Kaplan. Lexi Baker contributed to the filming of this piece. Stock footage provided by Pond5 and Shutterstock. Song: “The Legitimates” by Lionel Cohen.

Source: Fox News World

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

April 26, 2019

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

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

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

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

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

(Reporting by Jennifer Hiller; Editing by Chizu Nomiyama)

Source: OANN

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

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

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

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

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

Source: Fox News World

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Afghan President Ashraf Ghani speaks during the inauguration of the newly-elected parliament in Kabul
Afghan President Ashraf Ghani speaks during the inauguration of the newly-elected parliament in Kabul, Afghanistan April 26, 2019. REUTERS/Omar Sobhani

April 26, 2019

By Rupam Jain and Hameed Farzad

KABUL (Reuters) – Afghan President Ashraf Ghani encouraged newly-elected lawmakers to participate in the peace process with the Taliban as he opened on Friday the first session of parliament since a controversial election.

Ghani has invited thousands of politicians, religious scholars and rights activists to an assembly known as a loya jirga next week to discuss ways to end the 17-year war.

Several opposition leaders have said they will boycott the four-day assembly in Kabul, saying it was pulled together without their input and is being used by Ghani as he seeks a second term in a September presidential election.

“We have presented the peace plan on a regular basis and we are committed to it,” Ghani said in the first session since parliamentary elections marred by technical problems, militant attacks and accusations of voting fraud last year.

“Based on this plan, there will be no peace deal and negotiation that does not have the green card of the parliament,” he added.

Officials from the United States and the Taliban have held several rounds of talks to end the Afghan war.

U.S. negotiator, Zalmay Khalilzad, has reported some progress toward an accord on a U.S. troop withdrawal and on how the Taliban would prevent extremists from using Afghanistan to launch attacks as al Qaeda did on Sept. 11, 2001.

The insurgents have so far rejected U.S. demands for a ceasefire and talks on the country’s political future that would include Afghan government officials.

The loya jirga, a centuries-old institution used to build consensus among competing tribes, factions and ethnic groups, is an attempt by Ghani to influence the peace talks and cement his position for a second term, Afghan politicians and Western diplomats say.

Amid growing political divisions in Kabul, opposition politicians have demanded that Ghani step down when his mandate ends next month, and give way to an interim government to oversee peace talks with the Taliban. Ghani has ruled that out.

The country’s top court said last week Ghani can stay in office until the presidential election in September.

(Reporting by Hameed Farzad, Rupam Jain, Editing by Darren Schuettler)

Source: OANN

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Deputy Attorney General Rod Rosenstein Thursday defended special counsel Robert Mueller’s investigation while slamming former President Barack Obama’s administration for being slow to take action on Russian interference in U.S. elections and ex-FBI Director James Comey for telling Congress the agency was investigating collusion between the Trump campaign and Russia.

“Our nation is safer, elections are more secure, and citizens are better informed about covert foreign influence schemes,” Rosenstein said in a speech to the Armenian Bar Association, marking his first public remarks after the Mueller report was released, reports CBS News.

He also pointed out that the investigation revealed a pattern of computer hacking and the use of social media to undermine elections as “only the tip of the iceberg of a comprehensive Russian strategy to influence elections, promote social discord, and undermine America, just like they do in many other countries,” reports The Wall Street Journal.

The Obama administration also made “critical decisions,” including choosing not to publicize the full story about Russian hackers and social media trolling, “and how they relate to a broader strategy to undermine America,” said Rosenstein.

He noted that the Mueller probe began after Comey disclosed during a hearing before Congress that President Donald Trump “pressured him to close the investigation and the president denied that the conversation occurred.”

Rosenstein said two years ago, when he was confirmed, he was told by a Republican senator that he would be in charge of the probe and that he’d report the results to the American people.

However, he said he didn’t promise to do that, because it is “not our job to render conclusive factual findings. We just decide whether it is appropriate to file criminal charges.”

Source: NewsMax Politics

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FILE PHOTO: The Huawei logo is pictured outside its Huawei's factory campus in Dongguan, Guangdong province
FILE PHOTO: The Huawei logo is pictured outside its Huawei’s factory campus in Dongguan, Guangdong province, China, March 25, 2019. REUTERS/Tyrone Siu/File Photo

April 26, 2019

By Ben Blanchard

BEIJING (Reuters) – Britain must get to the bottom of the leak of confidential discussions during a top-level security meeting about the role of China’s Huawei Technologies in 5G network supply chains, British finance minister Philip Hammond said on Friday.

News that Britain’s National Security Council, attended by senior ministers and spy chiefs, had agreed on Tuesday to bar Huawei from all core parts of the country’s 5G network and restrict its access to non-core elements was leaked to a national newspaper.

The leak of secret discussions has sparked anger in parliament and amongst Britain’s intelligence community. Britain’s most senior civil servant Mark Sedwill has launched an inquiry and written to ministers who were at the meeting.

“My understanding from London (is) that an investigation has been announced into apparent leaks from the NSC meeting earlier this week,” said Hammond, speaking on the sidelines of a summit on China’s Belt and Road initiative in Beijing.

“To my knowledge there has never been a leak from a National Security Council meeting before and therefore I think it is very important that we get to the bottom of what happened here,” he told Reuters in a pooled interview.

British culture minister Jeremy Wright said on Thursday he could not rule out a criminal investigation. The majority of the ministers at the NSC meeting have said they were not involved, according to media reports.

Hammond said he was unaware of any previous leak from a meeting of the NSC.

“It’s not about the substance of what was apparently leaked. It’s not earth-shattering information. But it is important that we protect the principle that nothing that goes on in national security council meetings must ever be repeated outside the room.”

Allowing Huawei a reduced role in building its 5G network puts Britain at odds with the United States which has told allies not to use its technology at all because of fears it could be a vehicle for Chinese spying. Huawei has categorically denied this.

There have been concerns that the NSC’s conclusion, which sources confirmed to Reuters, could upset other allies in the world’s leading intelligence-sharing network – the Five Eyes alliance of the United States, Britain, Australia, Canada and New Zealand.

However, British ministers and intelligence officials have said any final decision on 5G would not put critical national infrastructure at risk. Ciaran Martin, head of the cyber center of Britain’s main eavesdropping agency, GCHQ, played down any threat of a rift in the Five Eyes alliance.

(Writing by Michael Holden; Editing by Mark Heinrich)

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