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Dem leaders reject immediate impeachment proceedings in urgent conference call

House Democrat leaders backed off the idea of immediately launching impeachment proceedings against President Trump in an urgent conference call Monday evening, amid a growing rift among the party's rank-and-file members, presidential contenders and committee chairs on the contentious issue.

Fox News is told by two senior sources on the conference call that even House Financial Services Committee Chair Maxine Waters, an anti-Trump firebrand, told fellow Democrats that while she personally favored going forward with impeachment proceedings, she was not pushing for other members to join her.

Waters' hesitation signaled clearly that, for the time being, any impeachment effort would struggle to gain steam. Just last week, Waters, D-Calif., took a far more aggressive tone, charging that "Congress’ failure to impeach is complacency in the face of the erosion of our democracy and constitutional norms."

Waters also has called Attorney General Bill Barr a "lackey," saying he was not being "respectful" to Congress. Barr held a news conference presenting Special Counsel Robert Mueller's conclusions and has referred bluntly to the FBI surveillance of the Trump campaign as "spying," rankling Democrats even as he said the important issue was whether the spying was properly predicated.

On the call Monday night, Waters took a more muted tone and said she was simply saying what she personally thought -- not demanding impeachment proceedings.

Rep. Maxine Waters, D-Calif., said while she personally favored impeachment proceedings, she was not pushing for other lawmakers to join her. (AP Photo/J. Scott Applewhite, File)

Rep. Maxine Waters, D-Calif., said while she personally favored impeachment proceedings, she was not pushing for other lawmakers to join her. (AP Photo/J. Scott Applewhite, File)

House Speaker Nancy Pelosi, D-Calif., reportedly told colleagues on the call that while the findings from Mueller's investigation merited further review, taking the president to trial would be premature. Congress is currently on a two-week recess, and representatives are scattered across the country.

The brewing fractures in the Democrat Party were evident on the Sunday talk show circuit, as House Intelligence Committee Chairman Adam Schiff, D-Calif, told "Fox News Sunday" that the impeachment question presented a "very difficult decision" that would take "the next couple of weeks" to determine.

TOP DEM DISMISSES POSSIBILITY OF COLLUSION FATIGUE: 'THE RUSSIANS AREN'T GETTING TIRED'

“I'm not there yet, but I can foresee that possibly coming,” House Oversight Committee Chairman Elijah Cummings, D-Md., said on CBS News’ “Face the Nation.” House Majority Leader Steny Hoyer, D-Md., said Democrats would be wise to instead focus on the upcoming presidential election.

“Obstruction of justice, if proven, would be impeachable,” New York Rep. Jerry Nadler, the chairman of the House Judiciary Committee, said on NBC News’ “Meet the Press,” adding his committee would “see where the facts lead us.” Nadler issued a subpoena on Monday for documents and testimony from former White House Counsel Donald McGahn, who resisted Trump's calls to fire Mueller, according to the special counsel's findings.

Meanwhile, prominent progressive firebrand Rep. Alexandria Ocasio-Cortez, D-N.Y., and Sen. Elizabeth Warren, a Massachusetts Democrat running for president in 2020, wholeheartedly embraced the impeachment push.

Pelosi recognized the intra-party split in a letter to Democrats on Monday, ahead of the conference call.

“While our views range from proceeding to investigate the findings of the Mueller report or proceeding directly to impeachment, we all firmly agree that we should proceed down a path of finding the truth,” Pelosi wrote. “It is also important to know that the facts regarding holding the president accountable can be gained outside of impeachment hearings.”

Pelosi added: “Whether currently indictable or not, it is clear that the president has, at a minimum, engaged in highly unethical and unscrupulous behavior which does not bring honor to the office he holds."

Mueller's 18-month-long probe found no evidence the Trump team conspired illegally with Russians, and debunked numerous conspiracy theories that mainstream media outlets had advanced on the topic. Democrats quickly pivoted to focus on whether the president had illegally obstructed the Russia investigation -- a question Mueller chose to allow Barr, the Justice Department, and Congress to address.

Fox News' Alex Pappas, Chad Pergram, Mike Emanuel and The Associated Press contributed to this report.

Source: Fox News Politics

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“Harry Potter” books burned at Catholic parish in Poland

Priests at a Catholic parish in northern Poland have burned books, including the "Harry Potter" series, and other items that their owners said had evil forces.

Images from the burning at Gdansk's Mother of Church parish on Sunday were posted on Facebook by a Catholic foundation that uses unconventional ways of religious work.

In the pictures, flames are consuming an African wooden mask, figurines of elephants and books on personality and magic, as well as those by J.K. Rowling, all bought in by parishioners. A priest and altar boys are watching the book burning.

The foundation said the book burning was intended to alert parishioners to bad influences that it says comes from magic and the occult.

Comments under the post condemned the book burning, recalling that also happened in Nazi Germany before World War II.

Source: Fox News World

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US-backed Syrian fighters search tunnels in last IS pocket

U.S.-backed Syrian forces are conducting search operations in tunnels a day after seizing an encampment where Islamic State militants had been making their last stand in Syria.

Ciyager Amed, an official with the Kurdish-led Syrian Democratic Forces, says they are searching for any IS militants still hiding in tunnels in a riverside pocket in the village of Baghouz.

Associated Press journalists saw SDF soldiers loading women and children into trailer trucks on the hilltop over Baghouz, in a sign evacuations were ongoing Wednesday. Black smoke could be seen rising from a part of the village.

U.S.-backed Syrian forces on Tuesday seized control of the encampment held by IS after hundreds of militants surrendered overnight, signaling the group's collapse after months of stiff resistance.

Source: Fox News World

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Pope: Women have ‘legitimate claims’ for justice, equality

Pope Francis says women have "legitimate claims" to seek more justice and equality in the Catholic Church, but has stopped short of endorsing more sweeping calls from his own bishops to give women decision-making roles.

Francis on Tuesday issued a document inspired by an October 2018 meeting of bishops on better ministering to today's young Catholics. The meeting was marked by demands for greater women's rights, and the final document called the need for women to claim decision-making positions in the church "a duty of justice."

In the lengthy document "Christ is Alive," Francis endorses no such conclusion. He writes that the church must be attentive to women's "legitimate claims" for equality and must better train men and women with leadership potential.

Source: Fox News World

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Trump Cracks Down on Cuba, Nicaragua, and Venezuela

The Trump administration on Wednesday intensified its crackdown on Cuba, Nicaragua and Venezuela, rolling back Obama administration policy and announcing new restrictions and sanctions against the three countries whose leaders national security adviser John Bolton dubbed the "three stooges of socialism."

"The troika of tyranny — Cuba, Venezuela and Nicaragua — is beginning to crumble," Bolton said in a hard-hitting speech near Miami on the 58th anniversary of the United States' failed Bay of Pigs invasion of the island, an attempt to overthrow the Cuban government.

Bolton announced a new cap on the amount of money families in the United States can send their relatives in Cuba. The Obama administration had lifted limits on remittances, but the new limit will be $1,000 per person per quarter, Bolton said. Remittances to Cuba from the United States amounted to $3 billion in 2016, according to the State Department.

Bolton also announced that the U.S. was sanctioning the Central Bank of Venezuela, which the Trump administration says has been instrumental in propping up the embattled government of Venezuelan President Nicolas Maduro. He also announced sanctions against financial services provider Bancorp, which he claimed is a "slush fund" for Nicaragua's President Daniel Ortega.

"The United States looks forward to watching each corner of this sordid triangle of terror fall: in Havana, in Caracas, and in Managua," Bolton said in South Florida, which is home to thousands of exiles and immigrants from Cuba, Venezuela and Nicaragua.

He said Obama administration policies gave the Cuban government "political cover to expand its malign influence" across the region, including in Venezuela. Cuba has trained Venezuelan security forces to repress civilians and support Maduro, Bolton said.

"Havana continues to prop up Maduro and help him sustain the brutal suffering of the Venezuelan people," Bolton said. "As President Trump has said, Maduro is quite simply a 'Cuban puppet.'"

"Thousands of Cuban doctors in Venezuela are being used as pawns by Maduro and his Cuban sponsors to support his brutal and oppressive reign."

Bolton's pledge to "never, ever abandon" the people of Cuba, Venezuela and Nicaragua in their fight for freedom also might ring hollow in light of the historical events he sought to highlight at the event hosted by the Bay of Pigs Veterans Association.

Many Cuban Americans to this day resent the late President John F. Kennedy for not deploying American troops at a critical moment in the Bay of Pigs invasion.

Meanwhile, with the high stakes of the Cold War a fading memory, some critics of U.S. policy toward Venezuela worry that the Trump administration's stance that all options are on the table, including a military one, to oust Maduro is an empty threat that will only serve to ignite the streets and geopolitical tensions with Russia, compounding the misery of Venezuelan citizens.

"Honoring one of U.S.' greatest military fiascos from 60 years back suggests U.S. policy to Latin America owes more now to a perverse Cold War nostalgia than practical benefits for people of the region," said Ivan Briscoe, the Latin American director for the International Crisis Group, a think tank headquartered in Brussels.

Bolton spoke just hours after Secretary of State Mike Pompeo announced in Washington a new policy that allows lawsuits against foreign firms operating on properties Cuba seized from Americans after the 1959 revolution. The United States has enforced a trade blockade against Cuba since the early 1960s.

The announcement comes at a moment of severe economic weakness for Cuba, which is struggling to find enough cash to import basic food and other supplies following a drop in aid from Venezuela and a string of bad years in other key economic sectors.

Pompeo said he won't renew a bar on litigation that has been in place for two decades, meaning that lawsuits can be filed starting on May 2 when the current suspension expires. The decision could cost dozens of Canadian and European companies tens of billions of dollars in compensation and interest.

Pompeo's decision gives Americans the right to sue companies that operate out of hotels, tobacco factories, distilleries and other properties Cuba nationalized after Fidel Castro took power. It allows Cubans who became U.S. citizens years after their properties were taken to sue.

The Justice Department has certified roughly 6,000 claims as having merit, according to Kimberly Breier, the top U.S. diplomat for the Americas. Those claims have an estimated value of $8 billion: $2 billion in property and $6 billion in interest, she said. In addition, another 200,000 uncertified claims could run into the tens of billions of dollars, she said.

Breier said there would be no exceptions to the decision, which has already prompted stern responses from Canada and Europe as they have vowed to protect their businesses from lawsuits.

"European companies that are operating in Cuba will have nothing to worry about if they are not operating on properties taken from Americans," she said.

The decision deals a severe blow to Havana's efforts to draw foreign investment to the island and comes as Trump steps up pressure to Venezuela's Maduro , who is holding power with help from other countries, including Cuba, China and Russia.

Spain, which has large investments in hotels and other tourism-related industries on the island, was the first to react. A senior government official told The Associated Press that Madrid would ask the European Union to challenge the U.S. move in the World Trade Organization.

Businesses from Canada, France and Great Britain among other countries also conduct business in properties nationalized after Castro took power.

Johana Tablada, Cuba's deputy director of U.S. affairs, said on Twitter: "Before they try to euphorically ride a wave of wickedness and lies, they should take a dose of reality. The world has told John Bolton and the U.S. government to eliminate the criminal blockade against Cuba and the Helms-Burton Act" of 1996.

Countries with large investments in Cuba have ferociously protested the law.

"The extraterritorial application of the U.S. embargo is illegal and violates international law," said Alberto Navarro, the European Union ambassador to Cuba. "I personally consider it immoral. For 60 years the only thing that's resulted from the embargo is the suffering of the

Source: NewsMax Politics

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More than 30 teens arrested for disrupting downtown Chicago

Police say more than 30 teenagers have been arrested after large groups of high school students caused disruptions and started fights in downtown Chicago.

The Chicago Tribune reports that Chief of Patrol Fred Waller says hundreds of teens were moving through the city Wednesday night and numerous fights broke out. He says teens were arrested for disobeying orders to disperse and trespassing.

Waller says no injuries were reported aside from bruises and bumps.

At one point, teens gathered at Millennium Park, a popular place among tourists. Police moved them out of the park after several fights broke out.

Chicago police have dealt with large crowds of teens swarming downtown before as the weather starts to warm up. Waller says police have "faced this challenge for the past few years coming up with different strategies and trying to do some intervention."

___

Information from: Chicago Tribune, http://www.chicagotribune.com

Source: Fox News National

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California man faces hate crime charges after punching 7-Eleven clerk, saying he 'hated Muslims'

A homeless California man was charged with a hate crime after he allegedly punched and threw hot coffee on a 7-Eleven employee on Wednesday and claimed he "hated Muslims," officials said.

John Crain, 43, had tried to walk out of the store in Marysville around 2 a.m. without paying for the cup of coffee he just poured when he was confronted by the clerk, who is actually a member of the Sikh community.

The clerk told police that Crain threw hot coffee in his face, then punched him before leaving the store.

When police located Crain later that day after another suspected assault he admitted to the attack, saying he "hated Muslims," Marysville Police told FOX40.

CALIFORNIA WOMAN STABBED OFFICER AFTER DRIVING OVER 100 MPH ON INTERSTATE 5, POLICE SAY

Malia Lomanic, who lives next to the 7-Eleven, said she was angered by the attack.

“Those guys who work at the 7-Eleven are sweethearts,” she told FOX40. "They’re super nice dudes."

CALIFORNIA MAN SENTENCED TO PRISON FOR STARTING WILDFIRE THAT FORCED OVER 7,000 TO EVACUATE

Local groups condemned the attack.

“The Sikhs are American, we’ve been working hard here for over 100 years,” Amar Shergill, a board member of the American Sikh Public Affairs Association, told FOX40. “A hate crime against a Sikh is the same as a hate crime against members of the Jewish or LGBTQ communities.”

CLICK HERE FOR THE FOX NEWS APP

Crain was booked into Yuba County Jail, where he is facing charges of theft, assault and a hate crime.

Source: Fox News National

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

April 26, 2019

By Tom Lasseter and Shri Navaratnam

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

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

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

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

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

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

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

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

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

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

INTELLIGENCE FAILINGS

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

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

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

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

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

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

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

“LIKE A SPOILED CHILD”

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

ONLINE RADICAL

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

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

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

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

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

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

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

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

“HARD TO TAKE”

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

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

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

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

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

Zahran went into hiding once more.

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

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

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

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

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

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

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

April 26, 2019

By Jessica DiNapoli and Imani Moise

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

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

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

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

Fraser could not be immediately reached for comment.

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

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

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

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

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

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

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

Spokespeople for Wells Fargo and Spencer Stuart declined to comment.

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

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

STALLED SHARES

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

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

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

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

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

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

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

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

April 26, 2019

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

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

(Reporting by Richard Leong; Editing by Chizu Nomiyama)

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

April 26, 2019

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

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

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

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

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

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

April 26, 2019

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

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

(Reporting By Steve Holland; Editing by Bill Trott)

Source: OANN

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