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UNC puts women’s basketball coaching staff on leave

FILE PHOTO: NCAA Womens Basketball: Atlantic Coast Conference Tournament - Notre Dame vs UNC
FILE PHOTO: Mar 8, 2019; Greensboro , NC, USA; North Carolina Tar Heels head coach Sylvia Hatchell reacts to a call in the game against the Notre Dame Fighting Irish during the second half in the women's ACC Conference Tournament at Greensboro Coliseum. Mandatory Credit: Jim Dedmon-USA TODAY Sports

April 1, 2019

North Carolina has put its women’s basketball coaching staff on paid administrative leave amid an investigation into “issues raised by student-athletes and others,” the school announced Monday in a news release.

Those suspended are head coach Sylvia Hatchell, who just concluded her 33rd season leading the Tar Heels, and her three assistant coaches, per The News & Observer of Raleigh, N.C.

The university did not specify the “issues,” but said a Charlotte, N.C., law firm “will conduct the review and assess the culture of the women’s basketball program and the experience of our student-athletes.”

Hatchell has been the head coach at UNC since 1986 and has led the Tar Heels to three NCAA Final Four appearances — 1994, 2006 and 2007 — and the NCAA championship in 1994.

The program has made 23 appearances in the NCAA Tournament during her tenure. On March 23, the Tar Heels were eliminated by California in the first round of this year’s tournament, 92-72.

Hatchell, 67, has a 751-325 record in 33 seasons at North Carolina. She missed one season — 2013-14 — as she battled leukemia. She spent the first 11 seasons of her career at Francis Marion College in South Carolina, finishing 272-80.

A 2013 enshrinee into the Naismith Memorial Hall of Fame, she is the winningest women’s basketball coach in Atlantic Coast Conference history.

Hatchell also is one of three active coaches in NCAA women’s basketball with 1,000 wins — Stanford’s Trish VanDerveer and Connecticut’s Geno Auriemma are the others — and the only women’s college basketball coach to win national championships at three levels: AIAW, NAIA and NCAA.

Hatchell issued a statement Monday afternoon via her attorney:

“I’ve had the privilege of coaching more than 200 young women during my 44 years in basketball,” her statement read. “My goal has always been to help them become the very best people they can be, on the basketball court and in life.

“I love each and every one of the players I’ve coached and would do anything to encourage and support them. They are like family to me. I love them all.

“Of course, I will cooperate fully in this review. I look forward to a prompt conclusion of this matter and the continuation of our very successful women’s basketball program.”

In recent years, Hatchell’s program has been plagued by transfers and the specter of the long NCAA investigation into potential academic fraud across a number of sports at North Carolina. The NCAA issued its findings in October 2017 with no penalties assessed.

Hatchell’s assistants are associate head coach Andrew Calder, who has been on the staff for 33 years and took over in 2013-14 when Hatchell underwent medical treatment; assistant coach Sylvia Crawley, a former North Carolina player; and Bett Shelby, the recruiting coordinator.

–Field Level Media

Source: OANN

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Reports: Cards, Goldschmidt closing in on long-term extension

FILE PHOTO: MLB: Spring Training-Philadelphia Phillies at St. Louis Cardinals
FILE PHOTO: Mar 18, 2019; Jupiter, FL, USA; St. Louis Cardinals first baseman Paul Goldschmidt (46) walks into the dugout during a spring training game against the Philadelphia Phillies at Roger Dean Chevrolet Stadium. Mandatory Credit: Steve Mitchell-USA TODAY Sports

March 21, 2019

On the heels of a trio of eye-popping contracts handed out to MLB stars in the last month, another perennial All-Star is reportedly on the verge of signing his own extension.

Only the figures aren’t quite as gaudy.

The Athletic’s Ken Rosenthal reported Thursday that the St. Louis Cardinals and newly acquired first baseman Paul Goldschmidt are closing in on an extension that will be “at least five years and at least $110 million.” Later, ESPN’s Jeff Passan reported that both sides agreed to a deal and the terms are five years and “about $130 million.” The deal, Passan reported, would keep Goldschmidt in St. Louis through the 2024 season.

In the past month, Manny Machado (Padres), Bryce Harper (Phillies) and Mike Trout (Angels) have signed three of the four largest contracts in MLB history, each worth at least $300 million in total value and $25.3 million in annual average. Goldschmidt’s deal would be a far cry from that those in terms of total value, but at 31, the slugger is several years older than the others. Machado and Harper are 26, and Trout is 27.

Arizona traded Goldschmidt, a six-time All-Star, to St. Louis in December in exchange for right-hander Luke Weaver, catcher Carson Kelly, infielder Andy Young and the Cardinals’ Compensation B selection in the 2019 draft.

Goldschmidt has slugged 30 or more homers in four of the past six seasons, but the Diamondbacks were shopping the 31-year-old because he was entering the last season of his contract, which is slated to pay him $14.5 million. He batted .290 with 33 homers and 83 RBIs in 2018. He has three 100-RBI campaigns and has batted .300 or better three times since 2013.

Overall, he batted .297 with 209 homers and 710 RBIs in 1,092 games over parts of eight seasons for Arizona. He finished second in National League MVP balloting in 2013, when he set career highs of 36 homers and 125 RBIs, and again in 2015.

–Field Level Media

Source: OANN

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Woman and 5-year old boy die after falling from Miami high-rise

A woman and a 5-year-old child died after falling from at least the 20th floor of a Miami high-rise Monday night, officials say.

Miami Fire Rescue said they responded to a report of a possible "jumper” Monday night.

Authorities found the woman dead near the building, while the boy was unresponsive on a sixth-floor terrace and was rushed to Jackson Memorial Hospital’s Ryder Trauma Center in “extremely critical” condition. He was later pronounced dead.

FLORIDA WOMAN DISCOVERS SNAKE INSIDE DRYER, SAYS SHE 'NEVER RAN SO FAST IN MY LIFE'

Capt. Ignatius Carroll said they likely fell from at least the 20th floor.

Their names haven’t been released and it’s unclear what the relationship was between the pair. Police are investigating what lead to their deaths.

Fox News' Michael Sinkewicz and the Associated Press contributed to this report.

Source: Fox News National

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Russia lashes out at West for refusing take back IS fighters

A top Russian diplomat has lashed out at Western countries for refusing to take back foreign-born militants who have been fighting in Syria and Iraq.

Foreign Ministry spokeswoman Maria Zakharova at a briefing on Friday accused Western nations of trying to "get rid" of their own citizens by refusing to repatriate their nationals who were fighting alongside the Islamic State group in Syria and Iraq.

The issue of foreign-born IS fighters has become acute as the once sprawling territory controlled by the extremists has shrunk to a small enclave and both Syria and Iraq face a post-war future.

Zakharova also said that the detention facilities where foreign-born fighters are held should be handed over to the Syrian government.

Source: Fox News World

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Mexican president sees ‘at least’ 2 percent economic growth in 2019

FILE PHOTO: Mexico's President Andres Manuel Lopez Obrador looks on during a meeting with industry bosses and members of his cabinet to discuss the new administration's policy on the minimum wage at National Palace in Mexico City
FILE PHOTO: Mexico's President Andres Manuel Lopez Obrador looks on during a meeting with industry bosses and members of his cabinet to discuss the new administration's policy on the minimum wage at National Palace in Mexico City, Mexico December 17, 2018. REUTERS/Edgard Garrido/File Photo

April 2, 2019

MEXICO CITY (Reuters) – Mexican President Andres Manuel Lopez Obrador said on Tuesday that the country’s economy will grow “at least” 2 percent this year, projecting a larger expansion than a government estimate issued just a day earlier.

On Monday, the finance ministry lowered its 2019 growth estimate to between 1.1 percent and 2.1 percent, compared to a previous estimate of between 1.5 percent to 2.5 percent.

Lopez Obrador told reporters at his regular morning news conference on Tuesday that the projection was too conservative.

“I think their forecast was too low. We’re going to grow at least by an estimated 2 percent this year … and 3 percent next year,” he said.

The former Mexico City mayor promises an end to what he calls neoliberal projects and has targeted 4 percent growth by the end of his six-year term. He added that he will pursue “a better distribution of revenue, a better distribution of wealth.”

(Reporting by David Alire Garcia and Diego Ore; Editing by Susan Thomas)

Source: OANN

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Auto industry lines up against possible U.S. tariffs

Imported vehicles are shown out for delivery in National City, California
Imported vehicles are shown out for delivery in National City, California, U.S. June 27, 2018. REUTERS/Mike Blake

February 18, 2019

By Sarah N. Lynch

WASHINGTON (Reuters) – The U.S. auto industry urged President Donald Trump’s administration on Monday not to saddle imported cars and auto parts with steep tariffs, after the U.S. Commerce Department sent a confidential report to the White House late on Sunday with its recommendations for how to proceed.

Some trade organizations also blasted the Commerce Department for keeping the details of its “Section 232” national security report shrouded in secrecy, which will make it much harder for the industry to react during the next 90 days Trump will have to review it.

“Secrecy around the report only increases the uncertainty and concern across the industry created by the threat of tariffs,” the Motor and Equipment Manufacturers Association said in a statement, adding that it was “alarmed and dismayed.”

“It is critical that our industry have the opportunity to review the recommendations and advise the White House on how proposed tariffs, if they are recommended, will put jobs at risk, impact consumers, and trigger a reduction in U.S. investments that could set us back decades.”

Representatives from the White House and the Commerce Department could not immediately be reached.

The industry has warned that possible tariffs of up to 25 percent on millions of imported cars and parts would add thousands of dollars to vehicle costs and potentially devastate the U.S economy by slashing jobs.

Administration officials have said tariff threats on autos are a way to win concessions from Japan and the EU. Last year, Trump agreed not to impose tariffs as long as talks with the two trading partners were proceeding in a productive manner.

“We believe the imposition of higher import tariffs on automotive products under Section 232 and the likely retaliatory tariffs against U.S. auto exports would undermine – and not help – the economic and employment contributions that FCA, US, Ford Motor Company and General Motors make to the U.S. economy,” said former Missouri Governor Matt Blunt, the president of the American Automotive Policy Council.

Some Republican lawmakers have also said they share the industry’s concerns.

In a statement issued on Monday, Republican Congresswoman Jackie Walorski said she fears the Commerce Department’s report could “set the stage for costly tariffs on cars and auto parts.”

“President Trump is right to seek a level playing field for American businesses and workers, but the best way to do that is with a scalpel, not an axe,” she added.

(Reporting by David Shepardson and David Lawder; Writing by Sarah N. Lynch; Editing by Dan Grebler)

Source: OANN

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Bernie Sanders’ ‘Medicare-for-all’ plan includes health care for illegal immigrants

Sen. Bernie Sanders', I-Vt., newly unveiled ‘Medicare-for-all’ plan, backed by a host of other 2020 Democratic presidential hopefuls, would open the door to giving health care to illegal immigrants -- a marked left-wing departure from past proposals for healthcare reform.

The legislation, unveiled by Sanders this week, and signed onto by Sens. Kirsten Gillibrand, N.Y., Kamala Harris, D-Calif., Cory Booker, D-N.J., and Elizabeth Warren, D-Mass., does not speak directly about immigrants but refers to covering U.S. “residents” instead.

BERNIE SANDERS UNVEILS MEDICARE FOR ALL PROPOSAL, SUGGESTS ROLE OF HEALTH CARE INSURERAS WOULD BE REDUCED TO 'NOSE JOBS'

Both Sanders’ bill in the Senate, and a corresponding House bill introduced by Reps. Pramila Jayapal, D-Wash., and Debbie Dingell, D-Mich., would extend coverage to every U.S. resident -- a shift from the Affordable Care Act, which limited benefits to citizens, nationals and “lawfully present” immigrants. The House bill also prohibits the government from denying benefits because of "citizenship status."

While the Health and Human Services Secretary is given the task of defining residency, the federal government is tasked with taking steps to ensuring that “every person in the United States has access to health care, The Washington Examiner notes.

Sanders told CBS News' Ed O'Keefe, that his bill "guarantees, like every other major country on Earth, health care to every man, woman and child in this country."

He told The Washington Post: "My plan would cover every U.S. resident."

HOW DID BERNIE SANDERS MAKE HIS MONEY? A LOOK AT HIS WEALTH AND ASSETS

Such provisions are not new for Sanders, who has in the past pushed plans that would not exclude those in the country illegally. But it does mark a change for the 2020 field as a whole, which has moved dramatically to the left. Sanders’ bill would also mostly abolish private health insurance. Some estimates put the cost up to $32 trillion over the next decade.

Neither the House nor the Senate bill is likely to be made law while Republicans control the Senate and the White House. Republicans would almost certainly oppose either bill as a bloc, but even on the Democratic side, the plan could face significant resistance.

House Speaker Nancy Pelosi, D-Calif., said in February that Medicare-for-all” may not be “as good a benefit as the Affordable Care Act.”

NEW MEDICARE-FOR-ALL' BILL WOULD LARGELY OUTLAW PRIVATE INSURANCE

“It doesn’t have catastrophic [coverage] -- you have to go buy it. It doesn’t have dental. It’s not as good as the plans that you can buy under the Affordable Care Act,” she told Rolling Stone in an interview. “So I say to them, come in with your ideas, but understand that we’re either gonna have to improve Medicare — for all, including seniors — or else people are not gonna get what they think they’re gonna get,” she said. “And by the way, how’s it gonna be paid for?”

As to the broader concept of a single-payer plan, she put the cost at $30 trillion and asked: “Now, how do you pay for that?”

Sen. Chuck Schumer, D-N.Y., expressed skepticism this week, saying it was just one of several proposals the party is considering: "Different Democrats have different ways to get there."

But the pushback from Democratic leadership has not stopped the shift left by both House freshmen and 2020 presidential candidates, particularly on the thorny topic of illegal immigration.

Former San Antonio Mayor Julian Castro has called for illegal immigration to be treated as a civil, rather than a criminal matter. Meanwhile Gillibrand, as part of her call for “comprehensive immigration reform,” suggested that she wants to expand Social Security to those in the country illegally.

CLICK HERE FOR THE FOX NEWS APP

"First, we need comprehensive immigration reform," she said last month in Iowa. "If you are in this country now you must have the right to pay into Social Security, to pay your taxes, to pay into the local school system and to have a pathway to citizenship. That must happen."

Fox News' Barnini Chakraborty and The Associated Press contributed to this report.

Source: Fox News Politics

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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)

Source: OANN

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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)

Source: OANN

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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)

Source: OANN

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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)

Source: OANN

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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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