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Pershing Square up 31.9 percent, Ackman says stable capital base to help firm

FILE PHOTO: William 'Bill' Ackman, CEO and Portfolio Manager of Pershing Square Capital Management, speaks during the Sohn Investment Conference in New York City
FILE PHOTO: William 'Bill' Ackman, CEO and Portfolio Manager of Pershing Square Capital Management, speaks during the Sohn Investment Conference in New York City, U.S., May 8, 2017. REUTERS/Brendan McDermid

March 25, 2019

BOSTON (Reuters) – Hedge fund manager William Ackman said in his annual letter to shareholders that his Pershing Square Holdings fund has gained 31.9 percent since the start of 2019, the best start to the year in the firm’s 15-year history.

Ackman also said that his publicly traded fund, Pershing Square Holdings, now makes up $6 billion of the firm’s $8 billion in assets. Because the capital base is stable, where investors need to sell to another investor before exiting, Ackman expects it will help the firm in delivering higher rates of return over time.

(Reporting by Svea Herbst-Bayliss; editing by Grant McCool)

Source: OANN

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European court: Russia’s house arrest of Navalny unlawful

The European Court of Human Rights has ruled that a Russian court order placing opposition leader Alexei Navalny under house arrest in 2014 was unlawful and politically driven.

Navalny, a leading opponent of Russian President Vladimir Putin who has faced repeated arrests, hailed Tuesday's ruling as a victory and congratulated his supporters.

The court in Strasbourg ruled Tuesday that the house-arrest order had not been justified and noted that it was apparent that Navalny had been treated in that way in order to curtail his public activities.

Putin's spokesman, Dmitry Peskov, said that the Kremlin disagrees with the ruling, adding that it will be up to the Russian Justice Ministry to take the necessary action. Russia could appeal the verdict.

Source: Fox News World

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Chinese smartphone firms jazz up products, seize turf in home market from Apple

FILE PHOTO: Xiaomi founder and CEO Lei Jun attends a launch ceremony of the new flagship phone Xiaomi Mi 9 in Beijing
FILE PHOTO: Xiaomi founder and CEO Lei Jun attends a launch ceremony of the new flagship phone Xiaomi Mi 9 in Beijing, China February 20, 2019. REUTERS/Jason Lee/File Photo

March 22, 2019

By Josh Horwitz

SHANGHAI (Reuters) – Smartphone retailers in China say it’s a tough sell of late with consumers reluctant to upgrade, put off by chill economic winds.

Even so domestic brands led by Huawei have made big strides, wooing consumers with top-notch hardware and innovative features as they move upmarket in the $500-$800 price range. The result: a loss of share in a key segment for Apple Inc and fresh price cuts for iPhones by Chinese retailers.

“Of those people who are upgrading, there are many switching from Apple to Chinese brands but very few switching from Chinese brands to Apple,” said Jiang Ning, who manages a Xiaomi store in the northern province of Shandong.

Huawei Technologies Co Ltd, Xiaomi Corp, Oppo and Vivo once sought to grab share in the world’s biggest smartphone market with value-for-money devices, but consumer demand for better phones has prompted strategic rethinks.

“People are more attached to their phone than ever and have higher expectations for the function and experience it offers. The response has been constant upgrading of hardware specs,” Alen Wu, global vice president at Oppo, told Reuters.

He Fan, CEO of Huishoubao which buys and resells used phones, said he has seen a consumer shift to Huawei from Apple, driven by the Chinese love of selfies and emphasis on camera quality. Huawei has had a tie-up with German camera maker Leica since 2016.

“Huawei’s cameras have become noticeably better than Apple’s in that they suit the tastes of Chinese consumers more,” he said.

Compared to dual-cameras common in most smartphones, Huawei’s P20 Pro device boasts three rear-facing cameras, with the additional one improving zoom capabilities.

It is one of several new devices in its P20 and Mate 20 lines, which helped Huawei’s share of the $500-$800 segment in China surge to 26.6 percent last year from 8.8 percent, data from research firm Counterpoint shows.

Apple, by contrast, saw its share of the segment tumble to 54.6 percent from 81.2 percent, also hurt by its decision to move even further upmarket with the iPhone X series.

“Most Chinese smartphone buyers are not ready to shell out beyond $1,000 for a phone,” said Neil Shah, research director at Counterpoint. “This left a gap in the below-$800 segment, which Chinese vendors grabbed with both hands.”

(For a graphic on ‘Chinese smartphones increase share of home market’ click https://tmsnrt.rs/2HvsyQi)

Shipments of phones priced above $600 in China grew 10 percent in 2018, data from research firm Canalys shows. By contrast, the overall market shrunk 14 percent, marking a second year of contraction.

OVERSEAS GAINS

The weaker cachet for Apple in China was underscored this month when several major retailers simultaneously cut iPhone prices for a second time this year.

A 64GB iPhone 8 sold at Suning.com Co Ltd now costs 3,899 yuan ($580), roughly 25 percent less than it did in December. That’s also lower than its $599 price tag in the United States, where iPhones typically cost less to buy than in China. Most iPhone models through to the iPhone 8 series have seen prices in China cut, albeit not equally.

In earnings too, it seems to be a tale of divergent fortunes. Apple’s October-December revenue from the Greater China region fell by about a quarter from a year earlier. Greater China currently accounts for 15.6 percent of its overall revenue.

Huawei, the world’s No. 2 smartphone maker, has estimated revenue for 2018 rose 21 percent, which analysts attribute in large part to robust smartphone sales.

More broadly, fewer sales for Apple means fewer customers for its App Store and media streaming services. The shift to higher-end phones by Chinese brands has also meant greater inroads in overseas markets.

Huawei’s shipments in Europe jumped 55 percent in the latest quarter and it now has 23.6 percent market share, according to Canalys. That’s not far behind Samsung Electronics and Apple which saw small declines in shipments.

OPPO, VIVO

If Huawei is taking the lion’s share of turf that Apple once had in China, Oppo and Vivo – brands owned by electronics hardware conglomerate BBK – are the newest threats.

In June, Vivo launched the Nex which starts from 3,898 yuan ($610) and in July, Oppo launched the Find X, priced at 4,999 yuan ($755).

The models mark the first time the brands have priced a phone above $600, a sharp departure from their roots selling $300-$500 models to young consumers in second-tier cities.

The devices came with features unavailable in the iPhone, including under-the-glass fingerprint sensors and “notchless” displays, both of which increase the size of usable screen.

Xiaomi too is going upmarket, announcing in January it would split off its low-budget Redmi range of phones into a sub-brand. In doing so, it is taking a leaf out of Huawei’s book which has for years sold cheaper devices under the Honor brand, helping differentiate its products.

Redmi will target international markets and e-commerce sales, while the flagship Xiaomi brand will target China and offline retail markets, company founder Lei Jun told reporters.

Last month, Xiaomi unveiled the Mi 9, its latest flagship device with a price tag of 2,999 yuan ($450). But the company also said it might be the last time a Xiaomi flagship phone would be priced under 3,000 yuan.

“Xiaomi’s flagship series phones were once always set at 1,999 yuan,” said Lei. “This was a contributing factor to our rise, but it also became an obstacle to our growth,” he said.

(For a graphic on ‘Chinese smartphones increase share of home market’ click https://tmsnrt.rs/2Hx2KD4)

(Reporting by Josh Horwitz; Additional reporting by Stephen Nellis in San Francisco, Paul Sandle in Barcelona and the Shanghai newsroom; Editing by Jonathan Weber and Edwina Gibbs)

Source: OANN

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Home Depot, Caterpillar weigh on stock futures; Fed testimony awaited

Traders work on the floor of the NYSE in New York
Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., February 25, 2019. REUTERS/Brendan McDermid

February 26, 2019

By Shreyashi Sanyal

(Reuters) – U.S. stock futures edged lower on Tuesday, hit by losses in Home Depot and Caterpillar shares, while investors awaited Federal Reserve Chair Jerome Powell’s testimony on monetary policy.

Shares of the largest U.S. home improvement retailer fell 2.6 percent after the company issued a disappointing full-year earnings forecast and missed quarterly estimates for same-store sales. Smaller rival Lowe’s Co Inc also fell 1.4 percent.

Caterpillar Inc shares took a hit, falling 3.8 percent, after brokerage UBS double downgraded the company’s shares to “sell”.

Investors are awaiting Powell’s testimony at 10 a.m. ET (1500 GMT), after the central bank last month shifted to a more cautious stance on further interest rate hikes.

“A cautious mood develops ahead of Powell’s testimony on monetary policy to the U.S. Senate Committee, as he will be drilled during the Q&A session,” said Peter Cardillo, chief market economist at Spartan Capital Securities in a client note.

At 7:12 a.m. ET, Dow e-minis were down 93 points, or 0.36 percent. S&P 500 e-minis were down 5.25 points, or 0.19 percent and Nasdaq 100 e-minis were down 20.25 points, or 0.28 percent.

Stocks have been bolstered in recent weeks by trade optimism and dovish signals from the Fed, with the benchmark S&P 500 index about 4.8 percent away from its record closing high in September.

Wall Street ended higher on Monday after President Donald Trump said he would delay a planned hike in tariffs on Chinese imports, the clearest sign yet the two countries were closing in on an agreement to end their prolonged trade spat.

On the economic front, a report from the Commerce Department, expected at 8:30 a.m. ET, will likely show housing starts dipping in December, compared with November.

Separately, the Conference Board’s consumer confidence index likely rose to 124.7 this month, from a reading of 120.2 in January. The report is expected at 10 a.m. ET.

(Reporting by Shreyashi Sanyal and Medha Singh in Bengaluru; Editing by Anil D’Silva)

Source: OANN

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The Latest: Monday bond hearing for suspect in church fires

The Latest on the arrest of a suspect in recent arson fires at black churches in Louisiana (all times local):

3 p.m.

A bond hearing has been set for the suspect in three recent arson fires at African American churches in Louisiana.

The clerk of court's office in St. Landry Parish says the bond hearing for 21-year-old Holden Matthews is set for 9 a.m. Monday before Judge James Doherty.

Matthews is the son of a St. Landry sheriff's deputy. He was arrested Wednesday on charges of arson of a religious building. Authorities suspect him of torching three black churches in 10 days. His attorney did not return a call for comment Friday.

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6 a.m.

No known criminal record. No known history of violence. One friend called him an introverted animal lover. Another said he was a "very sweet guy" with a racially diverse group of friends.

But 21-year-old Holden Matthews is now the lone suspect in the torching of three African American churches in and around Opelousas, Louisiana.

The arrest of the son of a local sheriff's deputy shocked two friends who spoke to The Associated Press.

Meanwhile, pastors of the churches expressed relief that the mystery had apparently been solved.

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McGill reported from New Orleans and Opelousas. Associated Press writers Stacey Plaisance in Opelousas, and Michael Kunzelman in College Park, Maryland, contributed to this report.

Source: Fox News National

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Surveillance clips show Chinese billionaire with accuser

An attorney for JD.com founder Richard Liu said Monday that surveillance video showing the Chinese businessman in an elevator and walking arm-in-arm with a woman who has accused him of rape provides a different account of what happened that night.

Two edited videos of Liu and his accuser were posted Monday to a Chinese social media site. One video shows the pair leaving a group dinner in Minneapolis on Aug. 30, with the woman getting up to leave after Liu gets up, then following him out the door. The other video shows the woman holding onto Liu's arm as they walk to her apartment, where she says he raped her as she begged him to stop.

Liu, founder of the Beijing-based e-commerce site JD.com, was arrested Aug. 31 in Minneapolis on suspicion of felony rape, but prosecutors announced in December that he would face no criminal charges because the case had "profound evidentiary problems" and it was unlikely they could prove his guilt beyond a reasonable doubt.

The woman, Jingyao Liu, a Chinese college student at the University of Minnesota, sued the businessman and his company last week. She alleged she was groped in Richard Liu's limousine and raped in her apartment after a dinner at Origami, a Japanese restaurant in Minneapolis, in which she felt pressured to drink as Liu and other executives toasted her. At one point, Richard Liu said she would dishonor him if she did not join in, the lawsuit says.

Richard Liu and Jingyao Liu are not related.

It's not clear who posted the videos, which were posted on Weibo under an account for Mingzhou Events. The clips are short and the content is edited, but Richard Liu's attorneys in China confirmed their authenticity. The videos do not contain audio, and they do not show what happened in his limousine or in the woman's apartment.

Jill Brisbois, Richard Liu's attorney in Minnesota, said in a statement to The Associated Press that the clips "further dispel the misinformation and false claims that have been widely circulated and clearly support the Hennepin County Attorney's Office decision not to file charges against our client."

Brisbois said the videos speak for themselves and show events as they are happening. While the woman has alleged she was impaired and coerced to drink, she appears to be walking without assistance and linking her arm with the businessman.

The law firm of Florin Roebig, which is representing the woman, said the clips that have been posted online, as well as the full surveillance videos, are consistent with what the woman alleged in her lawsuit and with what she told law enforcement. The lawsuit says the woman went to her apartment building with Liu to be polite and respectful, and believed he was simply walking her to the door.

The clip in Jingyao Liu's apartment complex shows Richard Liu and the woman walking through multiple lobbies and taking multiple elevators. Initially, Richard Liu's female assistant is with them and the woman leads the way. At one point, the assistant does not get on an elevator with Richard Liu and the woman, and when they exit the elevator, she has her hand through his arm and he has his hands in his pockets.

She leads him up a short stairway, then through another set of doors and continues to link her hand through his arm. As they get off another elevator, she leads him down a hallway to an apartment. She opens the door and goes in, and Richard Liu follows.

The other clip features surveillance video from the end of the dinner at Origami. It shows Jingyao Liu seated at a table with other men, and Richard Liu is a few seats away, appearing to have an animated conversation with others at the table. One man at the dinner party is slumped over and appears to be passed out. The woman is seen talking to the man next to her, and when Liu gets up to leave, she gets up and appears to follow him. They walk out next to each other. Video from outside the restaurant shows her leaving with Richard Liu and his assistant.

Richard Liu walks ahead and it appears the woman and Liu's assistant have a brief conversation, then she follows Liu.

Text messages previously reviewed by The Associated Press and portions of the woman's interviews with police show the woman alleges Liu pulled her into a limousine and made advances and groped her despite her protests. The lawsuit says Liu forcibly raped her at her apartment, again over her protests and resistance. She texted a friend: "I begged him don't. But he didn't listen."

The alleged attack happened while Richard Liu was in Minneapolis for a weeklong residency as part of the University of Minnesota's doctor of business administration China program. The four-year program in the university's management school is geared toward high-level executives in China and is a partnership with Tsinghua University School of Economics and Management.

Jingyao Liu is a Chinese citizen studying at the university on a student visa and was a volunteer in the doctorate program while Richard Liu was there. The Associated Press does not generally name alleged victims of sexual assault without their consent, but the Florin Roebig law firm has said she agreed to be named. She was 21 at the time of the alleged attack.

Richard Liu, known in Chinese as Liu Qiangdong, is a prominent member of the Chinese tech elite, with a fortune of $7.5 billion. He is part of a generation of entrepreneurs who have created China's internet, e-commerce, mobile phone and other technology industries since the late 1990s. The son of peasants, Liu built a Beijing electronics shop into JD.com, China's biggest online direct retailer, selling everything from clothes to toys to fresh vegetables.

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Follow Amy Forliti on Twitter: http://www.twitter.com/amyforliti

Source: Fox News National

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2019 Draft: Winners and Losers

NFL: NFL Draft
Apr 25, 2019; Nashville, TN, USA; T.J. Hockenson (Iowa) is selected as the number eight overall pick by the Detroit Lions in the first round of the 2019 NFL Draft in Downtown Nashville. Mandatory Credit: Christopher Hanewinckel-USA TODAY Sports

April 26, 2019

Only the first 32 picks are in the books, but the winners and losers after Day One of the NFL draft were abundantly obvious.

Here’s a look at the best and worst of the first round:

Winners:

Detroit Lions: TE T.J. Hockenson, No. 8 overall

A tight end at No. 8 feels rich, especially when you consider the last top-10 tight end in the NFL draft was Eric Ebron, who disappointed in Detroit after going 10th overall in 2014.

Don’t fret, Lions fans. Hockenson is a far more complete and much safer prospect than Ebron, but he still has plenty of upside. His blocking is well documented — he regularly handled defensive ends and often buried linebackers and defensive backs at Iowa — but he is also an excellent receiver.

Hockenson isn’t as athletic as Hawkeye teammate Noah Fant, but he’s a much better route-runner, showing the nuance to set up defenders and find soft spots in zones. He’s also far from a slouch as an athlete, with the speed to threaten up the seam and the power to bulldoze defenders after the catch.

Buffalo Bills: DT Ed Oliver, No. 9 overall

With plenty of pre-draft smoke connecting Oliver to the New York Jets, Oakland Raiders, New York Giants and even the Atlanta Falcons via a trade-up, it seemed the Bills wouldn’t have a shot at him. Instead, after surprise picks at Nos. 4 and 6 overall, Oliver slid right into Buffalo’s lap.

With Kyle Williams retiring, the Bills needed more interior pass rush, and Oliver’s athleticism will fit very well next to 2017 third-round pick Harrison Phillips. Oliver isn’t nearly as polished as a pass rusher as Aaron Donald was when he came out in 2014, but he has comparable explosiveness for his size and will be a disruptor — if not a finisher — from Day 1.

Washington Redskins: QB Dwayne Haskins, No. 15 overall; OLB Montez Sweat, No. 26 overall

Leaks sprung like crazy from Washington over the last few days, painting an unflattering picture of an organization in disagreement. Reports on Thursday said owner Dan Snyder and team president Bruce Allen loved Haskins, while head coach Jay Gruden and some others preferred Daniel Jones.

But Washington wound up with the better prospect, and did so without having to trade up. Despite being a redshirt sophomore and one-year starter, Haskins is far more mentally advanced than most college quarterbacks. He ran a pro-style offense and read the field very well at Ohio State, and he has an excellent arm and the accuracy to hit open receivers at all three levels.

Haskins should fit well in Gruden’s scheme — assuming Gruden is there beyond 2019, which is far from certain — and he could be afforded the opportunity to sit behind Case Keenum or Colt McCoy. Washington’s franchise is almost infamous for its instability, but this pick could very well bring a long-term answer at the game’s most important position.

With a trade back into Round 1 later Thursday night, Washington got another dynamite player in Montez Sweat, who slid due to reported medical and character concerns. I don’t love the price Washington paid — a 2020 second-round pick to jump from No. 46 to No. 26 — but Sweat is extremely explosive and should fit in well opposite Ryan Kerrigan.

Losers:

New York Giants: QB Daniel Jones, No. 6 overall; DT Dexter Lawrence, No. 17 overall; CB DeAndre Baker, No. 30 overall

Washington’s gains were indirectly a result of a division rival’s worrisome decisions.

If you have conviction about a quarterback, you should take him at your first opportunity, and the Giants did. But that doesn’t mean they picked the right quarterback.

Despite his cerebral reputation — as a Duke product who has worked with David Cutcliffe and Peyton and Eli Manning — Jones needs plenty of work. He ran a lot of half-field reads and worked primarily short and intermediate with the Blue Devils. He also made far too many poor decisions for a player whose arm is just OK. This one will look especially rough if Haskins develops into a star and Jones does not.

The Giants’ pick at No. 17 also raised some eyebrows. Lawrence is an excellent run defender but might never be a great pass rusher. If he tops out as a solid pocket pusher who gets to QBs now and then, he might only play 55 percent of the snaps. That’s not a great return for the top asset that the trade of Odell Beckham Jr. brought back.

It’s also odd that the Giants traded Damon Harrison with the intention of moving Dalvin Tomlinson to nose tackle… and then added another nose tackle. They also have B.J. Hill, a promising third-round pick who had 5.5 sacks as a rookie. An edge rusher — and Sweat was there for the taking — would have made much more sense.

Getting Baker at No. 30 gives the Giants a nice, instinctive cover man, but they had to give up fourth- and fifth-round picks to get him.

Overall, that’s just too many question marks for a roster that needs a lot of work.

Oakland Raiders: DE Clelin Ferrell, No. 4 overall; RB Josh Jacobs, No. 24 overall; S Johnathan Abram, No. 27 overall

On one hand, the Raiders drafted three very good players and filled three holes. On the other, they made some questionable decisions when it came to value.

Very few evaluators pegged Ferrell as a top-10 pick, and virtually nobody had him going in the top five. It’s unclear if the Raiders tried to move down to add value while still getting Ferrell, but even if they tried and failed, there were better ways to get their guy.

It’s possible, perhaps probable, that Ferrell would have been available closer to the Raiders’ second pick at No. 24 than to their first at No. 4. With plenty of draft capital at their disposal, they could have worked the draft board and traded up into the mid-teens to grab him.

The player they wound up taking at No. 24, Jacobs, is an excellent talent and a well-rounded back who can block and catch. Still, there’s a convincing argument to be made that it’s never worth drafting a running back in the first round, given the fungibility and short shelf life at the position.

It’s harder to quibble with Abram, who brings tremendous physicality and energy, but his selection does appear to be a sign that former first-round pick Karl Joseph doesn’t have a future with the team.

With three first-round picks, including one in the top five, the Raiders simply could have gotten more value.

Houston Texans: OT Tytus Howard, No. 23 overall

Perhaps Howard was the top-ranked offensive tackle on Houston’s board. And he might very well develop into an excellent player.

But this feels like a reach at a position of (dire) need. Jonah Williams was the first tackle off the board at No. 11, and the Philadelphia Eagles swooped in to nab Andre Dillard, the best pass protector in the draft, one pick in front of the Texans. Houston could have ensured itself Dillard with a modest trade-up, or it could have simply taken Jawaan Taylor, who some consider a top-10 prospect and was still on the board.

Instead, they opted for a raw, small-school prospect who might not be ready to start but could be forced into the lineup to protect Deshaun Watson. That sounds a lot like current left tackle Julién Davenport, who has not worked out thus far.

–By David DeChant, Field Level Media

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A Cook County judge recently called out embattled State Attorney Kim Foxx for upholding a double standard by prosecuting a woman for filing a false police report — but dropping similar charges against embattled “Empire” actor Jussie Smollett.

Foxx has faced intense criticism over her office’s decision to drop a 16-count indictment against Smollett, just weeks after bringing the charges against the high-profile TV star. Foxx’s deal with Smollett, which did not require him to admit guilt, drew ire from the public, the city’s top cop and the former mayor who called it a “whitewash of justice.”

JUSSIE SMOLLETT CHICAGO PROSECUTOR KIM FOXX CHIDED BY NATIONAL ATTORNEYS GROUPS AFTER JUSSIE SMOLLETT CHARGES DROPPED 

Cook County Judge Marc Martin, who was presiding over an unrelated case, chastised Foxx and her office for creating a situation where anyone charged with filing a false report would expect the same leniency her office afforded Smollett.

Candace Clark, 21, is facing one felony count of making a false report. Prosecutors accused her of giving a friend access to her bank account and then telling authorities the money had been stolen. She denies the charges and claims she’s the victim of Foxx’s double standard — something the judge weighed in on.

“Well, Ms. Clark is not a movie star, she doesn’t have a high-price lawyer, although, her lawyer’s very good. And this smells, big time,” Martin said to prosecutors during a recent hearing, Fox 32 reported. “I didn’t create this mess, your office created this mess. And your explanation is unsatisfactory to this court. She’s being treated differently.”

The judge continued, “There’s no publicity on this case. She doesn’t have Mark Geragos as her lawyer or Ron Safer or Judge Brown. It’s not right. And (if) I proceed in this matter, you’re just digging yourselves further in a hole. (If the) press gets a hold of this, it’ll be in a newspaper. Why is Ms. Clark being treated differently than Mr. Smollett?”

Foxx recused herself from the Smollett case in February but continued to oversee the investigation through text messages with her assistant Joseph Magats.

The text messages revealed Foxx called Smollett a “washed up celeb who lied to cops.” They also show she cautioned Magats about throwing the book at Smollett.

“Sooo……I’m recused, but when people accuse us of overcharging cases…16 counts on a class 4 becomes exhibit A,” Foxx wrote to Magats on March 8.

“Pedophile with 4 victims 10 counts. Washed up celeb who lied to cops, 16. On a case eligible for deferred prosecution I think it’s indicative of something we should be looking at generally. Just because we can charge something doesn’t mean we should,” she added, referring to the case of R&B singer R. Kelly, who was indicted on 10 counts of aggravated criminal sexual abuse in connection with four women, three of whom were underage.

KIM FOXX’S CHIEF ETHICS OFFICER RESIGNS FOLLOWING SMOLLETT CONTROVERSY

President Trump said last month he asked for a federal review of Foxx’s decision to drop the charges against Smollett. He also called the actor “an absolute embarrassment to our country.”

The Smollett case garnered national attention and threatened to tear Chicago apart. It pit the police department and mayor against prosecutors and underscored the idea that wealthy people are somehow above the law.

Smollett told police he was attacked on Jan. 29 around 2 a.m. as he was returning home from a sandwich shop in Chicago. He said two masked men shouted racial and anti-gay slurs, poured bleach on him, beat him and tied a rope around his neck. He claimed they shouted, “This is MAGA country” — a reference to President Trump’s “Make America Great Again” campaign slogan.

CLICK HERE FOF THE FOX NEWS APP

After an intense investigation, police said Smollett staged the entire incident to drum up publicity for his career.

Smollett has strongly denied the accusations.

Source: Fox News National

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The headquarters of Wirecard AG is seen in Aschheim near Munich
FILE PHOTO: The headquarters of Wirecard AG, an independent provider of outsourcing and white label solutions for electronic payment transactions is seen in Aschheim near Munich, Germany April 25, 2019. REUTERS/Michael Dalder

April 26, 2019

BERLIN (Reuters) – Wulf Matthias will not stand for a second term as Wirecard’s chairman in 2020, German daily Handelsblatt said on Friday, citing sources in the financial industry.

For age reasons alone this would not be an option for Matthias, aged 75, Handelsblatt added.

Matthias will keep his mandate until it ends in 2020, the paper quoted a company spokeswoman as saying.

Wirecard was not immediately available for comment when contacted by Reuters.

(Reporting by Tassilo Hummel; Editing by Thomas Seythal)

Source: OANN

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Spain appears to have stemmed a surge in illegal migration that made it Europe’s main entry point for sea arrivals, after boosting joint efforts with neighboring Morocco to clamp down on the flow.

The country, which holds a national election Sunday, saw nearly 60,000 people reach its shores irregularly in 2018, most from Morocco and West Africa. But sea arrivals have plummeted since February.

While the migrant flow often fluctuates due to weather and other factors, an internal European Union report obtained by The Associated Press suggests intensified efforts to stop the migrants before they’re able to reach European waters are paying off.

The report doesn’t specify what Morocco did to hold back migrants or what it got in return other than “explicit recognition and support” from the Spanish government and the EU’s executive Commission in Brussels.

Source: Fox News World

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A man accused of using a compound bow and arrow to shoot and kill another man has been convicted of aggravated manslaughter.

Timothy Canfield was also found guilty Thursday of hindering and a weapons count. The 31-year-old Berlin man now faces up to 55 years in prison when he’s sentenced May 16.

Camden County prosecutors say Canfield shot Kereti Paulsen in January 2013.

They say the 25-year-old Cape May Court House man was walking away from a verbal argument that had involved several people when Canfield shot him. An arrow pierced one of Paulsen’s veins and he bled to death.

Prosecutors say Canfield made a 911 call after the shooting and pretended to be Paulsen. They also said Canfield provided false information and hid the compound bow and arrows.

Canfield said he acted in self-defense.

Source: Fox News National

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FILE PHOTO: The Credit Suisse logo is pictured on a bank in Geneva
FILE PHOTO: The Credit Suisse logo is pictured on a bank in Geneva, Switzerland, October 17, 2017. REUTERS/Denis Balibouse/File Photo

April 26, 2019

ZURICH (Reuters) – Shareholders approved Credit Suisse’s 2018 compensation report with an 82 percent majority on Friday, overriding frustrations expressed at its annual general meeting over jumps in executive pay during a year its share price plummeted.

Three shareholder advisers had recommended investors vote against Switzerland’s second-biggest bank’s remuneration report, while a fourth backed the report but expressed reservations about whether management pay matched performance.

The approval marked a slight increase over the 80.8 percent support garnered for the bank’s 2017 compensation report.

(Reporting by Brenna Hughes Neghaiwi; Editing by Michael Shields)

Source: OANN

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