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Midwest floods hammer U.S. ethanol industry, push some gasoline prices toward five-year high

FILE PHOTO: A motel, restaurant and travel stop are shown surrounded by flood waters in this aerial photo in Percival, Iowa
FILE PHOTO: A motel, restaurant and travel stop are shown surrounded by flood waters in this aerial photo in Percival, Iowa, U.S., March 29, 2019. REUTERS/Tom Polansek/File Photo

April 8, 2019

By Jarrett Renshaw and Stephanie Kelly

NEW YORK (Reuters) – The March floods that punished the U.S. Midwest have roiled the ethanol industry, hammering prices and trapping barrels in the country’s interior while the U.S. coasts suffer from shortages of the biofuel.

The historic March floods have dealt a series of blows to large swaths of an ethanol industry that was already struggling with high inventories and sluggish domestic demand growth. And the ethanol shortages are one factor pushing gasoline prices in Los Angeles and Southern California to the highest in the nation and they could top $4 a gallon for the first time since 2014, according to tracking firm GasBuddy.

Benchmark price for ethanol used in most supply contracts initially jumped on news of the floods but has been hobbled by rising waters around the Chicago hub that have halted barges and sales. That stands in contrast to prices on the coasts, which rose dramatically – drawing in heavy imports from Brazil, the main U.S. ethanol competitor.

The floods inflicted billions of dollars in damage to crops and homes in the U.S. Midwest, and knocked out roughly 13 percent of ethanol capacity.

U.S. ethanol is made from corn and required by the government to be blended into the nation’s fuel supply to reduce emissions.

While some ethanol plants were flooded, the primary effect of the rising waters was to shut rail lines that serve as the main arteries for corn and ethanol deliveries.

Ethanol prices on the coasts spiked due to shortages, but Midwest producers have been unable to take advantage because of washed-out rail lines, market sources told Reuters.

“Unfortunately for anyone who was impacted by logistics issues it was a double whammy. You couldn’t capture the rally,” said one trader.

At Chicago’s Argo terminal, the nation’s main ethanol pricing hub, the cash price for ethanol fell for an eighth straight session last week to $1.29 a gallon, the longest downward skid since April of last year, according to Oil Price Information Service, which does daily assessments.

Initially, fears of widespread plant outages boosted that benchmark, but plants proved more resilient than expected, continuing to produce despite logistical challenges.

U.S. ethanol inventories were at 24 million barrels for the week ended March 29, just off a record hit a week earlier, according to U.S. Energy Information Administration data.

Chicago’s price acts as the benchmark for millions of barrels bought and sold via longer-term supply contracts each day. While that price faltered, ethanol prices at the coast have surged, helping plants owned by Pacific Ethanol Inc and White Energy in California and Texas to take advantage of higher prices.

Ethanol delivered into Los Angeles typically trades at 20 cents a gallon higher than Chicago, but that premium rose to as high as 50 cents a gallon, traders said. The price in New York Harbor was at roughly double normal levels, traders said.

The tight ethanol supplies, along with refinery outages, boosted retail gasoline prices and led to some gas station shutdowns in the West as blenders there lacked the ethanol needed to blend with gasoline to make fuel that meets government regulations.

Gas prices in Arizona averaged $2.88 per gallon on Sunday, 17 percent higher than last month, according to the American Automobile Association. Prices were even steeper in California at $3.78 a gallon, well above the national average of $2.74 a gallon.

“Ultimately, Los Angeles could get close to seeing that average at $4 a gallon,” Patrick DeHaan, head of petroleum analysis at tracking firm GasBuddy, said, adding that much of that increase will come because of refinery outages in the state.

At least one county in California has already surpassed $4 a gallon. The highest recorded average price for the state was $4.67 a gallon, in October 2012, according to AAA.

The high coastal prices attracted barrels from the biggest U.S. competitor: Brazil. Overall ethanol imports to the United States totaled 558,279 barrels in March, the most seasonally since 2013, according to Refinitiv Eikon ship tracking data. Most of the imports during the month came from Brazil, according to the tracking data.

(Reporting by Jarrett Renshaw and Stephanie Kelly; Editing by Lisa Shumaker)

Source: OANN

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Authorities warn about ’48-Hour Challenge’ that encourages teens to go missing

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Police are warning families about a viral ’48-Hour Challenge’ in hopes of discouraging teenagers from creating fake missing tales in an effort to gain traction on social media.

The hashtag encourages teens to disappear for up to two days and awards “points” to every social media mention they receive during that time.

“We are not trying to cause a panic among our community,” the Tippecanoe County Sheriff’s Office in Indiana wrote on its Facebook page Monday. “But we would not be doing our job if we didn’t make you aware of a new ‘challenge’ that could become an issue.”

Other law enforcement agencies across the country have issued similar warnings, but none have cited receiving any calls or reports of missing teens.

“We don’t know that anyone is doing it yet, but we saw it out there and we wanted to present it to parents,” Tippecanoe County Chief Deputy Steve Hartman told NBC News on Wednesday.

Hartman said officials want to get out in front of this trend in case it becomes more than a hashtag. He also warned that if reports do come in, this could distract officers who are helping people actually in need of police assistance.

“We have enough work to do without kids creating work for us if they go missing because they think it’s funny,” he said.

A similar challenge was reported in theUnited Kingdom in 2015 as the ‘Game of 72,’ which encouraged teens to hide from their parents for long periods of time and gain “points” through “likes” or mentions on social media.

The Michigan State Police also alerted the public of this game in 2017 after news reports came out about it trending.

“The only reason we put out a warning was because a local television station called us about the situation, so we responded,” Michigan State Trooper Amy Belanger told the Detroit Free Press at the time. “We never had a reported incident here.”

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Congressional Hearing on Student Loan Crisis “Height of Hypocrisy, Denial”

In his most recent podcast, Peter Schiff talked about recent Congressional hearings that featured Rep. Maxine Waters scolding bankers for creating the student debt crisis, ignoring the fact that the student loan program was nationalized a decade ago.

Peter described it as the political theater of the absurd.

Waters grilled the bank CEOs, asking them what they were going to do about all of the students they had saddled with all of this debt. Peter called it the “height of hypocrisy and denial.”

“Why did all of these banks make all of these student loans? Because the government guaranteed the loans. That is the only reason the loans were made. Basically, the government went to these banks and said, ‘Hey, we want you to make these loans to these kids and just to make sure that you make them, we will guarantee the debt.’”

And to make this even more absurd, banks don’t make student loans anymore. The government does it directly.

“Now, how can the government blame the private sector for the student loan debt when it’s the government that is actually lending the money to the students. I mean, if there was ever a problem that was more obviously caused by government, it’s student loans. Because the government either made the loans or guaranteed the loans, yet now the government is somehow is trying to blame the public sector for the problem and asking what they’re going to do about it? Whats’ the government going to do about it?”

Peter went on and highlighted some of the other absurdities in the hearing, saying the bankers were basically just there to “kiss ass” after getting bailed out by the government in 2008.

(Photo by Andrew Czap, Flickr)

Peter also talked a little about inflation in this episode.

The government released its latest inflation numbers late last week. The overall CPI number came in at up 0.4%, slightly above the projection of a 0.3% rise. Year-over-year, the CPI is up 1.9%.

Peter said people should really be focusing on the rising price of oil because that is ultimately going to push that CPI number significantly higher. The price of oil continues to rise despite the fact that the dollar has not fallen.

Peter also pointed out that inflation is one of the reasons we see a rising level of inequality.

“One of the reasons that you have this rising inequality is because of the Federal Reserves efforts to pursue inflation. Even Mario Draghi said, ‘I need more inflation, that is our goal. We want inflation.’ Well, that’s been the Fed’s goal. They’re trying to reach their inflation target. Well, that is one of the reasons you’re seeing this wealth gap because inflation hurts the most the poor and the middle class. They don’t have financial assets that benefit from inflation. They earn wages and the value of those wages are destroyed by inflation. The cost of living is going up and the value of their savings, if they have any savings, is going down.”

Simply put, inflation is undermining the living standards of average people.


President Trump’s controversial policy reveals Dem hypocrisy.

Source: InfoWars

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Lithuania finds ex-Soviet defense minister guilty of war crimes

FILE PHOTO: Russia's President Medvedev is seen with former Soviet Defense Minister Marshal Yazov after decorating him during an award ceremony in Moscow's Kremlin
FILE PHOTO: Russia's President Dmitry Medvedev (back) is seen with former Soviet Defence Minister Marshal Dmitry Yazov after decorating him with the Service to the Fatherland order of the fourth grade during an award ceremony in Moscow's Kremlin, November 2, 2009. REUTERS/Ivan Sekretarev/Pool/File Photo

March 27, 2019

By Andrius Sytas

VILNIUS (Reuters) – A Lithuanian court found former Soviet defense minister Dmitry Yazov guilty of war crimes and crimes against humanity on Wednesday for his role in a 1991 crackdown against the Baltic state’s pro-independence movement.

The Vilnius court sentenced Yazov, 94, in absentia to 10 years in prison. He was the highest-ranking person on a list of 67 former military officials and army officers being sentenced after the three-year trial.

While only two of the accused were present in court on Wednesday, all 67 were found guilty and received sentences of between four and 14 years in prison.

The Russian foreign ministry did not immediately respond to a request for comment.

Russia has refused to cooperate with the trial, calling it illegal and in violation of the fundamental principles of justice, and former Soviet president Mikhail Gorbachev, 88, declined to testify.

Lithuania became the first Soviet republic in March 1990 to declare independence from Moscow. The Soviet Union was formally dissolved in December 1991.

Fourteen civilians were killed by the Soviet army in January 1991, prosecutors say, all but one of them during the storming of the state television headquarters and TV tower by Soviet paratroopers. More than 700 others were wounded.

Lithuania has issued international arrest warrants for all those sentenced and believes most of them are residing in Russia, Ukraine or Belarus, prosecutor Daiva Skorupskaite Lisauskiene told Reuters.

A lawyer representing one of the accused, Mikhail Golovatov, said he would appeal against his client’s sentence.

“For me, the most important thing today is that those who organized and implemented crimes against civilians have been handed sentences by a court,” Robertas Povilaitis, whose father was killed in the January 1991 events, told Reuters.

Lithuania’s President Dalia Grybauskaite praised the outcome of the trial.

“The guilty have been named for killings of people who peacefully protected their freedom,” she said in a statement.

(Additional reporting by Katya Golubkova in Moscow, editing by Terje Solsvik and Gareth Jones)

Source: OANN

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'It doesn't open': Mosque survivors describe terror at door

When the gunman began to attack the Al Noor mosque, Ahmed Alayedy scrambled to get to the nearest emergency exit. He was the first one there.

"I tried to open the door," he said. "But it doesn't open."

Alayedy and other survivors of the March 15 mosque attacks in New Zealand have described to The Associated Press a scene of confusion and terror at the door on one side of the main prayer room, in the first accounts of the role the door played.

Alayedy said so many people began crushing him against the door that some of his ribs cracked. Another survivor, Khaled Alnobani, says he thinks as many as 17 people may have died trying to get out through the door.

Investigators have likely examined a new electric locking system installed on the door in the days before the attack. The mosque says an electrician disabled that system the day before the attack, although some of those who escaped question whether that was the case. What is clear is that nobody managed to open the door that afternoon.

With the gunman in the middle of the room, the door represented the only escape route for those on one side of him, at least until people started smashing windows to get out.

Fifty people were slaughtered by the gunman at two Christchurch mosques during the attack, including 42 who died at Al Noor. Alayedy and others say that if the door had been wide open like it typically was during Friday prayers, many more people might have escaped.

Shagaf Khan, the president of the Muslim Association of Canterbury which oversees the mosque, said the door was closed and latched much like the front door of a house. He said it wasn't locked, although worshippers may have believed it was in the confusion.

He said an electrician had tested the new electric locking system on Thursday, and then disengaged it for Friday prayers. He said that to open the door, somebody needed to turn a lever. It was just happenstance, and perhaps the cool weather that day, he said, which meant the door wasn't wide open as usual.

"On any other Friday, the door would be open," he said. "But on this Friday, nobody opened that door."

He said he agreed that more people would have escaped if the door had been open.

"If it had been completely open, it would have been easy for people to get out," he said. "But nobody was prepared for this. We were prepared for an emergency like a fire or an earthquake, and people would still have time to get out. This is something totally different. You don't put this in your emergency plan."

Alayedy said that in the confusion, he can't be sure if he simply failed to turn the lever properly or if something else stopped the door from opening.

Alnobani, said he, too, tried to open the door and it didn't work, and he's familiar with the lever. He said he believes the door was electronically locked. Simply pushing a button next to the door would have unlocked it, he said, but nobody knew about the new system.

Khan said the mosque was in compliance with regulations, which require emergency exits to be clear from objects, easily accessible, and unlocked.

Police said the scene examination is part of their investigation and they will not be commenting while the investigation is ongoing.

Robert Wright, the Christchurch City Council head of building consents, said in an email the mosque was in compliance with the Building Act at the time of the attacks and had a valid certificate known as a "Building Warrant of Fitness."

Alayedy, 30, said that on the day of the attack, he'd been listening to a holy speech by imam Gamal Fouda when he heard six or seven shots. He thought it was an electrical fault at first but then heard screaming and ran for the door.

"All the brothers come in behind each other, on top of each other," he said.

Because he couldn't open the door, he said, he tried punching the hexagonal piece of glass in the lower part of the door. When that didn't work, he drove his knee through it, shattering the glass, and then kicked it out. He crawled through and ran for safety.

Alayedy, a chef from Jordan who moved to New Zealand nine years ago, said he thought about his family back at their house as he ran. His pregnant wife, his 3-year-old son, and the baby daughter they hope to have within the next couple of weeks.

Behind the mosque, Alayedy said, he began helping people to escape over a fence but couldn't get over it himself because of his injured ribs.

Another survivor provided a second escape route near the door by diving through a window with his arm wrapped around his eyes. Tarik Chenafa said he heard a tat-tat-tat-tat-tat and knew right away it was a semi-automatic weapon from his two years of compulsory military training in the Algerian army.

"I know someone is coming to kill us," he said.

Alnobani said that when he first came to the mosque that Friday, he'd noticed the side door was shut and considered opening it but then saw there were some older worshippers. It was a little cold and windy outside, he figured, so he left it alone.

Alnobani said he also managed to crawl through the door's smashed glass and run. He returned to help rescue a young boy whose father was shoving him through the opening, he said, and then helped the father as well.

"I tried to save the child, and I thought maybe I lose my life," he said. "But I am just alone," he said, adding "He had more than me to lose."

When he tried to help a third person through the opening, Alnobani said, that man was shot. The gunman walked out of the mosque to get another gun from his car, Alnobani said, and began shooting at him when he returned. But he managed to escape, and then drove two injured people to the hospital.

The gunman acted quickly, mowing down people on both sides of the mosque. On the side opposite from the closed door, some worshippers were able to escape, but the gunman also killed many others as they tried to leave.

"And he was actually standing behind them, and he was shooting and shooting and shooting and shooting," Fouda, the imam, told the AP after the attack. "Tragedy. Tragedy."

Brenton Tarrant, a 28-year-old Australian, has been charged with murder in the attack. His next court appearance is scheduled for April 5.

Chenafa said he's still sad and confused, and finds it hard to sleep. And he doesn't know what to believe about the door.

"There will be a lot of waiting to find out the truth," he said.

Source: Fox News World

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NZ PM welcomes Facebook bans on white nationalism, separatism

FILE PHOTO: New Zealand's Prime Minister Jacinda Ardern visits Christchurch
FILE PHOTO: New Zealand's Prime Minister Jacinda Ardern attends a news conference after meeting with first responders who were at the scene of the Christchurch mosque shooting, in Christchurch, New Zealand March 20, 2019. REUTERS/Edgar Su/File Photo

March 28, 2019

bWELLINGTON (Reuters) – New Zealand Prime Minister Jacinda Ardern said on Thursday that she welcomed Facebook Inc’s decision to ban praise, support and representation of white nationalism and white separatism on its social media platforms.

“Arguably these categories should always fall within the community guidelines of hate speech, but nevertheless it’s positive the clarification has now been made in the wake of the attack in Christchurch,” she said at a press conference.

Facebook’s ban was a shift in policy after criticism by civil rights groups that it was failing to confront extremism.

Ardern said 59 countries will send diplomatic representatives to a national remembrance service on Friday.

(Reporting by John Mair and Praveen Menon)

Source: OANN

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Tennessee’s Barnes wins Naismith coaching honor

FILE PHOTO: NCAA Basketball: SEC Conference Tournament-Kentucky vs Tennessee
FILE PHOTO: Mar 16, 2019; Nashville, TN, USA; Tennessee Volunteers head coach Rick Barnes (center) talks with Volunteers guard Jordan Bowden (23) against the Kentucky Wildcats during the first half of the SEC conference tournament at Bridgestone Arena. Christopher Hanewinckel-USA TODAY Sports/File Photo

April 7, 2019

Tennessee coach Rick Barnes was named the winner of the Naismith Coach of the Year Award, the Atlanta Tipoff Club announced Sunday during a press conference in Minneapolis.

Barnes is the first Tennessee men’s coach to win the award. Legendary women’s coach Pat Summitt won it five times.

Barnes was selected over Texas Tech’s Chris Beard, Virginia’s Tony Bennett and Houston’s Kelvin Sampson.

“To say the least, I’m honored. I’m humbled really,” Barnes said in a statement. “When you’re able to receive an award like the Werner Ladder Naismith Coach of the Year, you know it goes to your players and your assistant coaches.”

Barnes guided the Volunteers to a 31-6 mark, matching the school record for victories. Tennessee notched a school-record 19 straight wins during a season in which it reached the Sweet 16 before losing in overtime to Purdue.

The Volunteers also spent four weeks at No. 1 during the campaign. That made Barnes only the sixth coach to lead multiple programs to the top spot, joining John Calipari, Frank McGuire, Rick Pitino, Eddie Sutton and Roy Williams.

Barnes had Texas at No. 1 for two weeks in January 2010.

–Field Level Media

Source: OANN

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Traders work on the floor at the NYSE in New York
FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 24, 2019. REUTERS/Brendan McDermid

April 26, 2019

By Sruthi Shankar and Amy Caren Daniel

(Reuters) – U.S. stock index futures were flat on Friday, as investors paused ahead of GDP data, which is expected to show the world’s largest economy maintained a moderate pace of growth in the first quarter.

Gross domestic product probably increased at a 2% annualized rate in the quarter as a burst in exports, strong inventory stockpiling and government investment in public construction projects offset a slowdown in consumer and business spending, according to a Reuters survey of economists.

The Commerce Department report will be published at 8:30 a.m. ET.

The GDP data comes as investors look for fresh catalysts to push the markets higher. The S&P 500 index is about 0.5% below its record high hit in late September, after surging nearly 17% this year.

First-quarter earnings have been largely upbeat, with nearly 78% of the 178 companies that have reported so far surpassing earnings estimates, according to Refinitiv data.

Wall Street now expects S&P 500 earnings to be in line with the year-ago quarter, a sharp improvement from the 2.3% fall expected at the start of April.

Amazon.com Inc rose 0.9% in premarket trading after the e-commerce giant reported quarterly profit that doubled and beat estimates on soaring demand for its cloud and ad services.

Ford Motor Co shares surged 8.5% after the automaker posted better-than-expected first-quarter earnings largely due to strong pickup truck sales in its core U.S. market.

Mattel Inc jumped 8% after the toymaker beat analysts’ estimates for quarterly revenue, as a more diverse range of Barbie dolls powered sales in the United States.

At 6:52 a.m. ET, Dow e-minis were down 35 points, or 0.13%. S&P 500 e-minis were down 1.5 points, or 0.05% and Nasdaq 100 e-minis were up 10.75 points, or 0.14%.

Among decliners, Intel Corp slumped 7.7% after it cut its full-year revenue forecast and missed quarterly sales estimate for its key data center business.

Rival Advanced Micro Devices declined 0.8%.

Oil majors Exxon Mobil Corp and Chevron Corp are expected to report results later in the day.

(Reporting by Sruthi Shankar and Amy Caren Daniel in Bengaluru; Editing by Anil D’Silva)

Source: OANN

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General view of a destroyed building during World War II is pictured in Warsaw
General view of a destroyed building during World War II is pictured in Warsaw, Poland April 26, 2019. REUTERS/Kacper Pempel

April 26, 2019

By Joanna Plucinska

WARSAW (Reuters) – Germany could owe Poland more than $850 billion in reparations for damages it incurred during World War Two and the brutal Nazi occupation, a senior ruling party lawmaker said.

Some six million Poles, including three million Polish Jews, were killed during the war and Warsaw was razed to the ground following a 1944 uprising in which about 200,000 civilians died.

Germany, one of Poland’s biggest trade partners and a fellow member of the European Union and NATO, says all financial claims linked to World War Two have been settled.

The right-wing Law and Justice (PiS) has revived calls for compensation since it took power in 2015 and has made the promotion of Poland’s wartime victimhood a central plank of its appeal to nationalism.

PiS has yet to make an official demand for reparations but its combative stance towards Germany has strained relations.

“Poland lost not only millions of its citizens but it was also destroyed in an unusually brutal way,” Arkadiusz Mularczyk, who heads the Polish parliamentary committee on reparations, told Reuters in an interview.

“Many (victims) are still alive and feel deeply wronged.”

His comments come a month before European Parliament elections in which populist and nationalist parties are expected to do well. Poland will also hold national elections later this year, with PiS still well ahead of its rivals in opinion polls.

EU LARGESSE

Mularczyk said the reparations figure could amount to more than 10 times the estimated 100 billion euros ($111 billion) that Poland has received so far in European Union funds since it joined the bloc in 2004.

Germany is the biggest net donor to the EU budget and some Germans regard its contributions as generous compensation to recipient countries like Poland which suffered under Nazi rule.

In 1953 Poland’s then-communist rulers relinquished all claims to war reparations under pressure from the Soviet Union, which wanted to free East Germany, also a Soviet satellite, from any liabilities. PiS says that agreement is invalid because Poland was unable to negotiate fair compensation.

Mularczyk said his committee hoped to complete its report on the reparations issue by Sept. 1, the 80th anniversary of Hitler’s invasion.

Accusing Berlin of playing “diplomatic games” over the issue, he said: “The matter is being swept under the rug (by Germany) … until it’ll be wiped from the memory, from people’s awareness.”

His comments come after the Greek parliament voted this month to seek billions of euros in German reparations for the Nazi occupation of their country.

(Additional reporting by Anna Wlodarczak-Semczuk, Editing by Justyna Pawlak and Gareth Jones)

Source: OANN

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FILE PHOTO - Otto Frederick Warmbier is taken to North Korea's top court in Pyongyang North Korea
FILE PHOTO – Otto Frederick Warmbier (C), a University of Virginia student who was detained in North Korea since early January, is taken to North Korea’s top court in Pyongyang, North Korea, in this photo released by Kyodo March 16, 2016. Mandatory credit REUTERS/Kyodo/File Photo

April 26, 2019

WASHINGTON (Reuters) – U.S. President Donald Trump on Friday said the United States did not pay any money to North Korea as it sought the release of comatose American student Otto Warmbier.

The Washington Post reported on Thursday that Trump had approved payment of a $2 million bill from North Korea to cover its care of the college student, who died shortly after he was returned to the United States after 17 months in a North Korean prison.

(Reporting by Makini Brice and Susan Heavey)

Source: OANN

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Al-Qaida in Yemen is vowing to avenge beheadings carried out by Saudi Arabia this week — an indication that some of the 37 Saudis executed on terrorism-related charges were members of the Sunni militant group.

Al-Qaida in the Arabian Peninsula, as the branch is called, posted a statement on militant-linked websites on Friday, accusing the kingdom of offering the blood of the “noble children of the nation just to appease America.”

The statement says al-Qaida will “never forget about their blood and we will avenge them.”

U.S. ally Saudi Arabia on Tuesday executed 37 suspects convicted on terrorism-related charges. Most were believed to be Shiites but at least one was believed to be a Sunni militant.

His body was pinned to a pole in public as a warning to others.

Source: Fox News World

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For two friends with checkered pasts it was the luck of a lifetime: a 4 million-pound ($5.2 million) lottery win.

But Mark Goodram and Jon-Ross Watson may see their celebrations cut short.

The Sun newspaper reports that Britain’s National Lottery is withholding the payout as it investigates whether the men, who have a string of criminal convictions, used illicit means to buy the winning ticket.

The Sun said neither man has a bank account, leading lottery organizers to investigate how they obtained the bank-issued debit card that paid for the 10 pound ($13) scratch card.

Camelot, which runs the lottery, said Friday it couldn’t confirm details of the story because of winner-anonymity rules. The firm said it holds a “thorough investigation” if there is any doubt about a claim.

Source: Fox News World

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