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NFL notebook: Romo may be $10 million man for CBS

Dallas Cowboys quarterback Tony and wife Candice arrive for the annual White House Correspondents' Association dinner in Washington
FILE PHOTO: Dallas Cowboys quarterback Tony Romo and his wife, Candice, arrive for the annual White House Correspondents' Association dinner in Washington April 25, 2015. REUTERS/Jonathan Ernst

March 28, 2019

Tony Romo could become the first football analyst to earn $10 million per year. Sources told the Sporting News that Romo’s team is seeking a contract of “eight figures” to stay as the No. 1 football analyst at CBS. He is under contract to the network through the 2019 season at $4 million annually.

Romo, the former Dallas Cowboys quarterback, retired after the 2016 season and joined Jim Nantz in the booth at CBS in 2017, replacing Phil Simms.

The New York Post reported in January that CBS likely would give Romo a “substantial” raise, and that John Madden, who bounced around the networks, earned $8 million.

Troy Aikman is under contract to Fox for $7.5 million, and Jon Gruden made $6.5 million at ESPN for his appearance on “Monday Night Football” and other platforms before leaving to coach the Raiders, the Sporting News reported.

–The Tampa Bay Buccaneers signed quarterback Blaine Gabbert to a one-year contract, the team announced Wednesday. He is expected to compete with Ryan Griffin to back up Jameis Winston. Financial terms were not announced.

A Missouri product, Gabbert, 29, was the No. 10 overall draft pick by the Jacksonville Jaguars in 2011 and spent three seasons there. He also has played for the San Francisco 49ers (2014-16), the Arizona Cardinals (2017) and the Tennessee Titans (2018).

–Free agent wide receiver Demaryius Thomas pleaded guilty to a charge of careless driving resulting in injury.

The former Denver Broncos and Houston Texans player was behind the wheel near downtown Denver on Feb. 16 when he was speeding and lost control of his vehicle, causing it to roll over, police said. He and a male passenger sustained minor injuries. The second passenger, a woman, suffered more serious injuries that weren’t considered to be life-threatening.

Under terms of the agreement, Thomas must pay a $300 fine plus court costs, perform 50 hours of community service and serve one year of probation. A felony vehicular assault charge was dismissed.

–Wide receiver Jordy Nelson is retiring from the NFL, his former team, the Green Bay Packers, confirmed.

Nelson signed a two-year, $14.2 million deal last spring with Oakland. The Raiders already had paid him a $3.6 million roster bonus for 2019 when they released him on March 14.

The retirement comes as a mild surprise, considering reported interest in Nelson from the Kansas City Chiefs, Seattle Seahawks and New England Patriots. Nelson, who turns 34 in May, has been released in consecutive offseasons after the Packers let him go last spring.

–They’ve yet to play a down for him, but the Arizona Cardinals probably are ready to vote Kliff Kingsbury the coach of the year. Speaking at the league meetings in Phoenix, Kingsbury said he will give players a timeout to check their phones during team meetings.

Kingsbury, 39, said he did the same thing when coaching at Texas Tech and anticipates giving his players a phone break every 20 to 30 minutes.

“They’re itching to get to those things,” he said, adding he saw his college players grow impatient and lose attention in the meetings.

–Should HBO come knocking at the door, Oakland Raiders owner Mark Davis hopes not to have to answer it. The Raiders are one of five teams that meet the parameters for appearing on HBO’s “Hard Knocks,” the popular training camp reality series. And Davis said he doesn’t want his team to take part.

“It would be disruptive,” he said Tuesday, speaking at the NFL’s annual meetings in Phoenix. “We’ve got a lot of business to take care of, get ready for the season. I appreciate that they might think we’d be great TV, but we got something to accomplish.”

The Raiders do have the ingredients for stirring television. Since the start of the new league year, Oakland has acquired star wideout Antonio Brown and added free agent Vontaze Burfict, and there are rumblings running back Marshawn Lynch could return.

–Jerod Mayo, who spent his entire NFL career as a linebacker with the New England Patriots, is returning to the team as an assistant coach.

Mayo, who made 808 tackles in eight seasons (2008-2015), announced the news on Instagram.

Mayo reportedly will coach linebackers for new defensive coordinator Greg Schiano. Mayo’s playing career ended at 29 after a series of injuries. He started 93 of his 103 career games in New England, twice earning Pro Bowl honors and being selected first-team All-Pro in 2010, when he led the league with 175 tackles.

–Field Level Media

Source: OANN

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Study: Aegean farmers replaced hunters of ancient Britain

Scientists say a wave of migrants from what is now Greece and Turkey arrived in Britain some 6,000 years ago and virtually replaced the existing hunter-gatherer population.

A study published Monday in the journal Nature argues that genetic samples of ancient remains show there was little interbreeding between the newcomers and the darker-skinned foragers who had inhabited the British Isles for millennia.

By contrast, Aegean migrants who introduced farming to continental Europe mixed extensively with the local population, according to earlier DNA studies.

Mark Thomas, a professor of evolutionary genetics at University College London who co-wrote the study, says one explanation "may be that those last British hunter-gatherers were relatively few in number" and therefore left little trace in the genetic record.

Source: Fox News World

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Report describes toxic relationship between Rodgers, McCarthy

NFL: Green Bay Packers at Seattle Seahawks
FILE PHOTO: Nov 15, 2018; Seattle, WA, USA; Green Bay Packers head coach Mike McCarthy speaks with a referee during a third quarter replay review against the Seattle Seahawks at CenturyLink Field. Mandatory Credit: Joe Nicholson-USA TODAY Sports

April 4, 2019

A day after ESPN aired an interview with former Green Bay Packers coach Mike McCarthy discussing how he was dismissed by the team last December, an explosive report looked at the complicated and disastrous relationship between McCarthy and quarterback Aaron Rodgers and how it impacted the team.

Reporter Tyler Dunne dissected the situation in a lengthy story for Bleacher Report, published Thursday, and concluded that the coach-quarterback duo had a frosty relationship since the beginning of McCarthy’s tenure in 2006. That was the year after McCarthy, who previously was the offensive coordinator for the San Francisco 49ers, favored Utah quarterback Alex Smith over Cal quarterback Rodgers.

The 49ers took Smith with the No. 1 overall pick of the 2005 NFL Draft. After an agonizing wait of more than four hours, Rodgers heard his name called by the Packers with the No. 24 overall pick.

“Aaron’s always had a chip on his shoulder with Mike,” said Ryan Grant, a Packers running back from 2007-12. “The guy who ended up becoming your coach passed on you when he had a chance. Aaron was upset that Mike passed on him — that Mike actually verbally said that Alex Smith was a better quarterback.”

Dunne interviewed dozens of players and coaches who gave insight into the complicated relationship and tried to help him place blame on why the Packers never turned into a New England Patriots-like dynasty. McCarthy and Rodgers won just one Super Bowl together — Super Bowl XLV in 2011.

According to Dunne: “One ex-Packers scout puts it on both. He describes Rodgers as an arrogant quarterback quick to blame everyone but himself — one who’s ‘not as smart as he thinks he is’ –yet kindly points out that McCarthy basically quit on his team.

Other points made in the lengthy article:

–McCarthy missed team meetings to have massages in his office, sneaking the therapist up the back stairway as meetings took place in the building.

–Former general manager Ted Thompson used to fall asleep in meetings.

–Rodgers routinely would disagree with McCarthy’s play calls and improvise his own plays. One source said Rodgers claimed McCarthy had “one of the lowest (football) IQs, if not the lowest IQ, of any coach he’s ever had.”

–Assistant coach Alex Van Pelt, who had developed a good working relationship with Rodgers, wasn’t brought back when his contract expired because McCarthy felt threatened by Van Pelt.

–Field Level Media

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City employee on leave after 2016 video shows him knocking out special-ed teacher in bar fight

California city building inspector has been placed on leave after a nearly three-year-old surveillance video surfaced that shows him assaulting a female special education teacher and her male friend at a bar.

San Luis Obispo officials say they are conducting a confidential personnel investigation into the off-duty confrontation between city employee Christopher Olcott and teacher Camille Chavez and her friend Isaac McCormack, City Manager Derek Johnson said in a statement to the San Luis Obispo Tribune.

“As the criminal proceedings in this matter have finally come to a conclusion and additional information has been made publicly available, the city will thoroughly and quickly investigate the record to determine appropriate employment actions,” Johnson said.

Olcott, who works for the city's Community Development Department, pleaded guilty Feb. 21 to misdemeanor battery with great bodily injury after a trial ended up in a hung jury last year.

He did not respond to the Tribune for comment.

The May 28, 2016, incident was caught on surveillance video at Mr. Rick’s bar in Avila Beach. Olcott was sentenced to 60 days in jail, three years of unsupervised probation and three months of alcohol counseling. He must also pay an undetermined amount in restitution.

Chavez, 30, told the paper that Olcott was being "territorial" when he bumped into her backside inside the crowded bar.

“I don’t know what triggered the event,” Chavez told the paper. “I have no idea what prompted it. He was territorial over this space. There was room in front of him, but he was not willing to give up that space.”

BOSTON CITY WORKER, CONVICTED COP KILLER AMONG 29 CHARGED IN FEDERAL DRUG SWEEP

Olcott elbowed her in the face and knocked her out, at about the 50-second mark of the 1:05 video. She was unconscious for more than a minute and missed some time from work. He also repeatedly punched McCormack.

“We take these matters seriously,” Johnson said. “The safety and security of the community we serve and our employees is of utmost importance to us.”

Chavez said the attack still affects her nearly three years later.

“I had a concussion, and I have been diagnosed with PTSD,” Chavez said. “That has been the hardest thing. I’ve been dealing with being around crowds. I have a hard time going out in public and being around groups of people.”

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Christine Dietrick, SLO’s city attorney, said the city must go through a process when investigating off-duty attacks involving its employees to determine the nexus between job performance and conduct off the clock.

She said city governments aren't made aware of arrests or charges brought against employees that do not work in public safety.

“We were only aware of the charges and not the details of the case; the first we saw of the video was when it was posted online,” Dietrick said.

Source: Fox News National

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Russian minister to discuss ways to boost Venezuela’s oil exports

Russian Energy Minister Novak attends Russian Energy Week forum in Moscow
Russian Energy Minister Alexander Novak attends a session of the Russian Energy Week international forum in Moscow, Russia October 3, 2018. REUTERS/Sergei Karpukhin

March 29, 2019

KRASNOYARSK, Russia (Reuters) – Russian Energy Minister Alexander Novak said on Friday he planned to discuss with his Venezuelan counterpart ways to increase oil exports from Venezuela.

He did not give any further details.

Venezuelan oil minister and president of state-run oil company PDVSA, Manuel Quevedo, said this month that Venezuela might divert oil originally bound for the United States to Russia’s Rosneft or other destinations due to U.S. sanctions.

(Reporting by Anastasia Lyrchikova; Writing by Maria Tsvetkova; Editing by Edmund Blair)

Source: OANN

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Aerion designing supersonic jet to run completely on biofuels: CEO

FILE PHOTO: A logo of supersonic jet maker Aerion Corporation is pictured on their booth during EBACE in Geneva
FILE PHOTO: A logo of supersonic jet maker Aerion Corporation is pictured on their booth during the European Business Aviation Convention & Exhibition (EBACE) in Geneva, Switzerland, May 22, 2017. REUTERS/Denis Balibouse

March 29, 2019

By Allison Lampert

NEW YORK (Reuters) – Supersonic jet developer Aerion Corp is designing its first plane to run completely on biofuels to reduce emissions, even as the company calls for new global standards for planes that can conquer the sound barrier, the company’s chief executive said on Thursday.

Aerion’s business jet AS2, with a $120 million list price per jet, would be capable of running on synthetic paraffinic kerosene (SPK) biofuel, CEO Tom Vice said at a Wings Club event in New York.

Existing subsonic aircraft use a blend of biofuels and conventional jet kerosene to ensure the quality of the fuel does not harm the engine. Aerion’s plane would have an engine designed with seals that could handle the biofuel, he said.

“We believe that running biofuels will reduce our CO2 emissions by at least 40 percent,” Vice said.

Aerion and fellow supersonic plane makers Spike Aerospace and Boom Supersonic are working to reintroduce ultra-fast passenger planes for the first time since the Anglo-French Concorde retired in 2003.

Aerion, which recently secured an undisclosed investment from U.S. planemaker Boeing Co, has said the AS2 would fly at speeds of up to Mach 1.4, or about 1,000 miles (1,610 km) per hour, 70 percent faster than conventional business jets.

Its first flight is slated for 2023.

Today’s supersonic jets, while quieter and more fuel efficient than the Concorde, have difficulty meeting noise levels and carbon emissions standards for conventional planes due to engine constraints and higher fuel burn.

The United States has been pushing for the creation of new global rules on noise for supersonic jets, but faces opposition from Europe which wants these aircraft to meet the same standards as existing planes.

The United Nations’ aviation agency, the International Civil Aviation Organization (ICAO), which sets global standards that are usually adopted by its 192 member countries, has said it would study supersonic jets. It has not committed to creating new standards for the planes.

“We definitely want to see differences between subsonic and supersonic standards,” Vice said. “There are differences between the airplanes.”

Aerion’s AS2 would meet noise levels for subsonic planes, but not the carbon standard for emissions.

“For CO2 they haven’t set the standard for supersonic. So all we have is the subsonic standard. AS2 has a higher fuel burn so we won’t meet that standard,” he said.

Creating an engine capable of running on biofuels would lower emissions, although there is a limited supply of such fuel available, he said.

(Reporting by Allison Lampert; Editing by Phil Berlowitz)

Source: OANN

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Nicaragua: New talks explored but opposition sets conditions

Nicaragua says it has held talks on restarting a long-stalled dialogue following political violence that left more than 300 dead last year, but opposition groups and civil society are demanding a raft of preconditions.

They include the release of people considered "political prisoners," a halt to what they call "repression" of government opponents, guarantees for freedom of expression following the closure of media outlets critical of the government, and the disbanding of armed, pro-government militias.

The government announcement late Saturday said it has had an "exchange" with a group of private businesspeople in the presence of two Roman Catholic Church figures on resuming talks over matters important to Nicaragua.

Roman Catholic Cardinal said President Daniel Ortega and his powerful vice president and first lady, Rosario Murillo, participated in the talks.

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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)

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)

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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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