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EU states back easier sale of bank bad loans, no deal on foreclosures

The skyline of the banking district is pictured in Frankfurt
FILE PHOTO: The skyline of the banking district is pictured in Frankfurt, October 21, 2014. REUTERS/Ralph Orlowski

March 27, 2019

By Francesco Guarascio

BRUSSELS (Reuters) – EU ambassadors backed on Wednesday new rules to facilitate banks’ sales of bad loans on their books but failed to agree on a reform that would make it easier for lenders to recover assets from borrowers who default.

The proposed rules are part of a wider overhaul of EU banking rules and aim to accelerate banks’ efforts to offload soured loans, which have reduced European banks’ ability to lend to households and companies since the 2007-09 global financial crisis.

The agreement reached on Wednesday is expected to favor the purchase and servicing of so-called non-performing loans (NPLs) “which will lead to the development of efficient secondary markets,” said Romania’s Finance Minister Eugen Teodorovici, who chaired the negotiations among the 28 EU countries.

Under the overhaul, which still needs to be finalised in agreement with the European Parliament, financial companies specialized in buying bad loans, such as private equity giant Blackstone and asset manager Cerberus, are set to gain easier access to NPLs across EU states.

The new rules are expected to lower regulatory barriers to making cross-border purchases.

This should further stimulate a secondary market for bad loans, possibly driving prices up and making banks more willing to sell.

The low prices of bad loans have long discouraged banks from offloading them. Although the mass of NPLs has been steadily decreasing in recent years, there is still a backlog of more than 700 billion euros ($789 billion) hanging over EU banks’ balance sheets, especially at lenders in Italy, Greece, Ireland and Cyprus.

In a less positive development for banks, EU states were not able to reach a deal on proposals put forward by the EU Commission on facilitating lenders’ recovery of assets from borrowers who default.

The proposal introduced a mechanism to facilitate out-of-court procedures on foreclosures, to speed up banks’ recovery of the collateral used by borrowers to obtain loans – when borrowers are too late on their repayment schedule.

This mechanism, envisaged only for business loans and not consumer loans, would increase the value of NPLs and reduce bank losses, but would increase the burden on firms.

EU states failed to agree on this part of the reform, an EU statement said. Talks will continue in coming weeks among EU countries and with EU lawmakers on this matter. The reform needs to be agreed before EU elections in May.

(Reporting by Francesco Guarascio; Editing by Susan Fenton)

Source: OANN

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The Final Level of Censorship is Here: The Banning of URLs

In the wake of last week’s terror attacks at two New Zealand mosques which left 50 dead, several websites which either reported on the incident, hosted footage of the attacks, or have simply allowed people to engage in uncensored discussion such as Dissenter or Zero Hedge, have been partially or completely blocked in both New Zealand and Australia for the sake of “protecting consumers,” according to the CEOs of three New Zealand telcos.

In the immediate aftermath of the shooting – which was broadcast over Facebook Live by accused gunman Brenton Tarrant to an initial audience of just 200 viewers (none of whom reported it) and had 4,000 overall views before it was taken down – Facebook deleted 1.5 million videos of the attack, of which 1.2 million were blocked at the time of upload.

A video of the attacks is still freely available to anyone who wishes to download it from bittorrent.

Twitter has also been aggressively censoring content related to the Christchurch shooting – perhaps most egregiously forcing journalist Nick Monroe to delete a large number of tweets as he covered the incident in real time, just one of which had links to footage of the shooting. Document hosting website Scribd, meanwhile, has been deleting copies of Tarrant’s 74-page manifesto.

In addition to documenting the incident, Monroe has been noting the mass censorship surrounding the shootings – as well as things such as the New Zealand herald stealth editing a March 15 article to remove mention of a “well known Muslim local” who “chased the shooters and fired two shots at them as they sped off.”

That said, Twitter and Facebook’s suppression hasn’t gone far enough according to New Zealand telecom CEOs, who have penned an open letter to Facebook, Twitter and Google suggesting that they follow European proposals for hyper-vigilant policing of content for the sake of ‘protecting consumers.’

“Consumers have the right to be protected, whether using services funded by money or data. Now is the time for this conversation to be had and we call on all of you to join us at the table and be part of the solution,” reads the letter.

Zero Hedge banned… again.

Less than a week after Facebook ‘mistakenly’ banned us for two days with no explanation following several reports which were critical of the social media giant, we learned that Zero Hedge has now been banned in New Zealand and Australia, despite the fact that we never hosted video footage of the Christchurch attack. We were not contacted prior to the censorship. Instead, we have received a steady flood of people noting that the site is unavailable in the two countries unless a VPN is used.

And while Australia and New Zealand account for a negligible amount of traffic to Zero Hedge, the stunning arrogance of NZ and OZ telcos to arbitrarily impose nanny-state restrictions on content is more than a little disturbing, and should – at least in a so-called democracy – be subject to majority vote.

Also banned down under are the ‘chans’ and video hosting platform LiveLeak, among others.

The letter continues:

“You may be aware that on the afternoon of Friday 15 March, three of New Zealand’s largest broadband providers, Vodafone NZ, Spark and 2degrees, took the unprecedented step to jointly identify and suspend access to web sites that were hosting video footage taken by the gunman related to the horrific terrorism incident in Christchurch,” reads the joint letter from Vodafone’s Jason Paris, and NZ telcos Spark and 2degrees Simon Moutter Stewart Sherriff.

“As key industry players, we believed this extraordinary step was the right thing to do in such extreme and tragic circumstances. Other New Zealand broadband providers have also taken steps to restrict availability of this content, although they may be taking a different approach technically,” the letter continues.

We also accept it is impossible as internet service providers to prevent completely access to this material. But hopefully we have made it more difficult for this content to be viewed and shared – reducing the risk our customers may inadvertently be exposed to it and limiting the publicity the gunman was clearly seeking.”

“Internet service providers are the ambulance at the bottom of the cliff, with blunt tools involving the blocking of sites after the fact. The greatest challenge is how to prevent this sort of material being uploaded and shared on social media platforms and forums.

“We call on Facebook, Twitter and Google, whose platforms carry so much content, to be a part of an urgent discussion at an industry and New Zealand Government level on an enduring solution to this issue.”

So while the telcos have defended their decision to censor a wide swath of material in order to shield people from dangerous information – and have encouraged social media platforms to commit to European-style information control, Kiwis and Australians will only get to know what the technocracy approves in order to ‘protect consumers.’

Unless they set aside 15 seconds and use a VPN.



Big Tech has proven they care more about virtue signaling to the left than standing up for free speech as world wide laws are being pushed to censor the population.

Source: InfoWars

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Rome moves Roma families from housing project after protests

Rome city authorities have begun moving several Roma families out of a public housing project in a Rome suburb after violent protests by neo-fascist groups threatened their safety.

Far-right protesters from the neo-fascist party Forza Nuova screamed insults and threw objects at a van that removed several people late Wednesday. Some did a raised-arm fascist gesture known as the "Roman salute" and sang the Italian national anthem. Some neighbors turned out and applauded the Roma families' departure.

Mayor Virginia Raggi described a "very heavy climate of hatred" during a Tuesday evening protest allegedly incited by two far-right groups, Casa Pound and Forza Nuova, against the arrival of the Roma families on the outskirts of Rome.

Raggi said the families, including 33 children, were being placed elsewhere in the meantime.

Source: Fox News World

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Court wonders if it can rule on Manson follower’s parole

A California appeals court on Wednesday questioned whether it has jurisdiction to decide on parole for Charles Manson follower Leslie Van Houten or whether the issue becomes moot after the governor weighs in.

Van Houten's attorney told a three-judge panel of the 2nd District Court of Appeal in Los Angeles that his client is remorseful and takes responsibility for her crimes. A state prosecutor said the 69-year-old has placed too much blame on Manson himself.

Van Houten was 19 when she and fellow members of Manson's cult stabbed Los Angeles grocer Leno LaBianca and his wife, Rosemary, to death in 1969. The killings took place a day after other so-called Manson family members killed actress Sharon Tate and four others in crimes that shocked the world.

Van Houten was not involved in the other killings. She's serving a life sentence and has been recommended for release twice before but ultimately denied.

The appeals judges are reviewing a lower court's ruling that denied her parole. Since that ruling, a parole board recommended for the third time that Van Houten be freed, a decision undergoing a five-month review process before heading to Gov. Gavin Newsom.

The judges wondered whether they still would have jurisdiction to rule if Newsom denies Van Houten parole.

Van Houten's attorney, Rich Pfeiffer, told the judges they not only have jurisdiction but a duty to decide, adding that no elected politician will ever agree to Van Houten's parole because of the infamy of the case.

"If the courts don't release Miss Van Houten, she's never going to be released," Pfeiffer said. "The courts are empowered to make difficult decisions, and sometimes unpopular decisions, to be able to enforce the law. That's what courts are there for. Otherwise it turns into mob rule."

Deputy Attorney General Jill VanderBorght said the issue should rest with whatever Newsom decides. She said Pfeiffer's argument that Van Houten is unlikely to get released without a court decision was irrelevant.

"We're only looking at this single instance of parole reversal," she said. "We don't have to think of tomorrow or ever or politics. In fact, the court should not."

The judges gave Pfeiffer and VanderBorght five days to file arguments on the jurisdiction issue. The judges have three months to decide on Van Houten's parole.

Every year since 2016, a parole board has recommended that Van Houten be released, finding that she's no longer a threat to society. Former Gov. Jerry Brown blocked the first two recommendations.

Courts in general can be reluctant to interfere in parole matters, said Samuel Pillsbury, a criminal law professor at Loyola Marymount University in Los Angeles.

"It is highly emotional," Pillsbury said. "The voters have decided the governor should have a veto on this, so the courts would prefer to let this process play out."

If the decision comes down to the governor, Pillsbury agreed that Van Houten has an uphill battle.

"The Manson case is one of a kind," he said. "There's no other case like it in terms of the number of people in California who feel strongly about it, who've lived through it. The entire state and much of the nation still feel some degree of trauma from that, and it makes it a very different kind of case from an elected official's point of view."

In denying Van Houten parole last year, Los Angeles Superior Court Judge William Ryan found that she would "pose an unreasonable risk of danger to society," citing the brutal nature of the crimes.

During one of her parole hearings, Van Houten said the killings were the start of what Manson believed was a coming race war that he dubbed "Helter Skelter," after a Beatles song, and that he had the group prepare to fight and learn to can food so they could go underground and live in a hole in the desert.

Van Houten said she was traveling up and down the California coast when acquaintances led her to Manson. She candidly described how she joined several other members of the group in killing the LaBiancas, carving up Leno LaBianca's body and smearing the couple's blood on the walls.

Manson died of natural causes in 2017 at a California hospital while serving a life sentence.

___

Follow Amanda Lee Myers on Twitter at https://twitter.com/AmandaLeeAP

Source: Fox News National

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Large tiger shark circles, pulls down human body in water off Hawaii Island coast, thwarting rescue efforts

A tiger shark thwarted Hawaii fire officials’ efforts to recover a body floating in the water off the coast of the Big Island on Sunday.

Hawaii County fire officials were called to the scene just before 11 a.m. Sunday after hikers reported seeing the body floating in the ocean about 30 yards from the shore in North Kohala, Hawaii News Now reported.

Rescuers, however, encountered a slight problem — a tiger shark was “circling the body.”

GREAT WHITE SHARKS HAVE ‘TOXIC’ HEAVY METALS IN THEIR BLOOD, STUDY FINDS

Officials attempted to bring the body onto dry land by using a Billy Pugh net.

“In the process of putting a Fire Rescue Specialist in the Billy Pugh net to recover the body, a bystander reported that a shark had submerged the body and it was no longer visible,” the fire department said.

A helicopter searched the area for a while longer, but eventually scuttled the search operation when the body didn’t reemerge.

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The person’s belongings and backpack were recovered at the top of a steep cliff, Hawaii News Now reported. Police were working to notify the next of kin and have not released details about the victim.

Source: Fox News National

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Smollett Now Has An “Untreated Drug Problem” As ‘Empire’ Mulls Recast

After consulting with his attorneys and crisis management team, Jussie Smollett told Chicago police that he has an alleged drug problem, a move which could be used as a mitigating factor to get his sentence reduced, according to TMZ.

Smollett divulged his ‘drug problem’ after turning himself in Thursday morning on charges that he filed a police report for a Jan. 29 hate crime hoax he allegedly paid to associates to act out.

Smollett fingered Abimbola “Abel” Osundario – one of the two brothers the ‘Empire’ star allegedly paid $3,500 to beat him up – as his drug dealer, selling him ‘Molly’ several times since the spring of 2018 according to text messages.

Police say Smollett text messaged Osundario asking for the drug – a street name for ecstacy.


Tom Pappert breaks down the mixed reactions coming from inside Fox’s Empire television set yesterday and reveals what the cast and crew really thinks about their coworker’s hate crime hoax.

Word of Smollett’s drug problem comes as TVLine reports ‘Empire‘ producers are considering bringing in a new actor to play the role of Jamal. Co-creator Lee Daniels – who reportedly loosely based the character on himself, is said to be a big fan of the idea.

20th Century Fox said on Friday that while they will wait for the legal process to play out, they “have decided to remove the role of ‘Jamal’ from the final two episodes of the season.”

Smollett was arrested early Thursday after turning himself in on a felony criminal charge of disorderly conduct for filing a false police report in connection with the hate crime ‘attack.’

And in a sign that the left has finally accepted the situation, the Daily Show mocked the Smollett situation on Friday:

Source: InfoWars

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Gallup Poll: Trump Is President With Least Support

Donald Trump is the only president in the history of the Gallup trends poll to never gain support from a majority of Americans, according to an analysis by The New York Times.

Trump's approval rating last week climbed to 45% in a new Gallup poll, marking the third time the president has achieved the mark. His other 45% ratings were recorded in his first week in office and again after his first summit with North Korean leader Kim Jong Un.

Trump's approval rating in the Gallup polls has been mostly dependent on Americans' political parties – in a survey published March 29, Republicans gave him an 89% approval rating.

"These patterns suggest that the GOP is now defined by President Trump," the Gallup analysis read. "But it is not clear if certain subgroups such as non-college whites have become Republican because of their affinity for Trump, or if it comes from a longer-standing loyalty to the GOP and those subgroups have come to embrace Trump as the leader of the party."

A recent Rasmussen Reports poll showed a sharp increase in Trump's approval rating to 53%, marking his best showing in the survey since the early months of his presidency.

Source: NewsMax America

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Logo of the Exxon Mobil Corp is seen at the Rio Oil and Gas Expo and Conference in Rio de Janeiro
FILE PHOTO: A logo of the Exxon Mobil Corp is seen at the Rio Oil and Gas Expo and Conference in Rio de Janeiro, Brazil September 24, 2018. REUTERS/Sergio Moraes

April 26, 2019

(Reuters) – Exxon Mobil Corp on Friday reported first-quarter profit fell sharply on lower oil and gas prices and weakness in its refining and chemicals businesses that offset modest production gains.

The largest U.S. oil producer’s first quarter earnings fell to $2.35 billion, or 55 cents a share, from $4.65 billion, or $1.09 a share, a year ago.

Analysts had expected Exxon to earn 70 cents per share, according to Refinitiv Eikon estimates.

Shares were trading down about 2.7 percent in premarket trading on Friday.

Exxon’s oil equivalent production rose 2 percent to 4 million barrels per day, up from 3.9 million bpd in the same period the year prior. The company said its output in the Permian Basin, the largest U.S. shale basin, rose 140 percent over a year ago.

(Reporting by Jennifer Hiller; Editing by Chizu Nomiyama)

Source: OANN

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A Baha’i advocacy group has expressed concerns over the fate of minority Baha’is at the hands of Yemen’s Houthi rebels ahead of the appeals hearing for one of the community leaders sentenced to death.

The Baha’i International Community said in a statement Friday that the hearing for Hamed bin Haydara, detained in 2013 and sentenced to death last year on espionage and apostasy charges, is due on Tuesday.

The statement quotes Bani Dugal, the Baha’i community representative at the United Nations, as saying the prosecution hasn’t addressed Haydara’s appeal but is instead making “absurd, wide-ranging accusations.”

International rights groups have decried the prosecution of Yemeni Baha’is by the Iran-backed Houthis.

Iran has banned the Baha’i religion, which was founded in 1844 by a Persian nobleman considered a prophet by followers.

Source: Fox News World

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Afghan President Ashraf Ghani speaks during the inauguration of the newly-elected parliament in Kabul
Afghan President Ashraf Ghani speaks during the inauguration of the newly-elected parliament in Kabul, Afghanistan April 26, 2019. REUTERS/Omar Sobhani

April 26, 2019

By Rupam Jain and Hameed Farzad

KABUL (Reuters) – Afghan President Ashraf Ghani encouraged newly-elected lawmakers to participate in the peace process with the Taliban as he opened on Friday the first session of parliament since a controversial election.

Ghani has invited thousands of politicians, religious scholars and rights activists to an assembly known as a loya jirga next week to discuss ways to end the 17-year war.

Several opposition leaders have said they will boycott the four-day assembly in Kabul, saying it was pulled together without their input and is being used by Ghani as he seeks a second term in a September presidential election.

“We have presented the peace plan on a regular basis and we are committed to it,” Ghani said in the first session since parliamentary elections marred by technical problems, militant attacks and accusations of voting fraud last year.

“Based on this plan, there will be no peace deal and negotiation that does not have the green card of the parliament,” he added.

Officials from the United States and the Taliban have held several rounds of talks to end the Afghan war.

U.S. negotiator, Zalmay Khalilzad, has reported some progress toward an accord on a U.S. troop withdrawal and on how the Taliban would prevent extremists from using Afghanistan to launch attacks as al Qaeda did on Sept. 11, 2001.

The insurgents have so far rejected U.S. demands for a ceasefire and talks on the country’s political future that would include Afghan government officials.

The loya jirga, a centuries-old institution used to build consensus among competing tribes, factions and ethnic groups, is an attempt by Ghani to influence the peace talks and cement his position for a second term, Afghan politicians and Western diplomats say.

Amid growing political divisions in Kabul, opposition politicians have demanded that Ghani step down when his mandate ends next month, and give way to an interim government to oversee peace talks with the Taliban. Ghani has ruled that out.

The country’s top court said last week Ghani can stay in office until the presidential election in September.

(Reporting by Hameed Farzad, Rupam Jain, Editing by Darren Schuettler)

Source: OANN

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Deputy Attorney General Rod Rosenstein Thursday defended special counsel Robert Mueller’s investigation while slamming former President Barack Obama’s administration for being slow to take action on Russian interference in U.S. elections and ex-FBI Director James Comey for telling Congress the agency was investigating collusion between the Trump campaign and Russia.

“Our nation is safer, elections are more secure, and citizens are better informed about covert foreign influence schemes,” Rosenstein said in a speech to the Armenian Bar Association, marking his first public remarks after the Mueller report was released, reports CBS News.

He also pointed out that the investigation revealed a pattern of computer hacking and the use of social media to undermine elections as “only the tip of the iceberg of a comprehensive Russian strategy to influence elections, promote social discord, and undermine America, just like they do in many other countries,” reports The Wall Street Journal.

The Obama administration also made “critical decisions,” including choosing not to publicize the full story about Russian hackers and social media trolling, “and how they relate to a broader strategy to undermine America,” said Rosenstein.

He noted that the Mueller probe began after Comey disclosed during a hearing before Congress that President Donald Trump “pressured him to close the investigation and the president denied that the conversation occurred.”

Rosenstein said two years ago, when he was confirmed, he was told by a Republican senator that he would be in charge of the probe and that he’d report the results to the American people.

However, he said he didn’t promise to do that, because it is “not our job to render conclusive factual findings. We just decide whether it is appropriate to file criminal charges.”

Source: NewsMax Politics

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FILE PHOTO: The Huawei logo is pictured outside its Huawei's factory campus in Dongguan, Guangdong province
FILE PHOTO: The Huawei logo is pictured outside its Huawei’s factory campus in Dongguan, Guangdong province, China, March 25, 2019. REUTERS/Tyrone Siu/File Photo

April 26, 2019

By Ben Blanchard

BEIJING (Reuters) – Britain must get to the bottom of the leak of confidential discussions during a top-level security meeting about the role of China’s Huawei Technologies in 5G network supply chains, British finance minister Philip Hammond said on Friday.

News that Britain’s National Security Council, attended by senior ministers and spy chiefs, had agreed on Tuesday to bar Huawei from all core parts of the country’s 5G network and restrict its access to non-core elements was leaked to a national newspaper.

The leak of secret discussions has sparked anger in parliament and amongst Britain’s intelligence community. Britain’s most senior civil servant Mark Sedwill has launched an inquiry and written to ministers who were at the meeting.

“My understanding from London (is) that an investigation has been announced into apparent leaks from the NSC meeting earlier this week,” said Hammond, speaking on the sidelines of a summit on China’s Belt and Road initiative in Beijing.

“To my knowledge there has never been a leak from a National Security Council meeting before and therefore I think it is very important that we get to the bottom of what happened here,” he told Reuters in a pooled interview.

British culture minister Jeremy Wright said on Thursday he could not rule out a criminal investigation. The majority of the ministers at the NSC meeting have said they were not involved, according to media reports.

Hammond said he was unaware of any previous leak from a meeting of the NSC.

“It’s not about the substance of what was apparently leaked. It’s not earth-shattering information. But it is important that we protect the principle that nothing that goes on in national security council meetings must ever be repeated outside the room.”

Allowing Huawei a reduced role in building its 5G network puts Britain at odds with the United States which has told allies not to use its technology at all because of fears it could be a vehicle for Chinese spying. Huawei has categorically denied this.

There have been concerns that the NSC’s conclusion, which sources confirmed to Reuters, could upset other allies in the world’s leading intelligence-sharing network – the Five Eyes alliance of the United States, Britain, Australia, Canada and New Zealand.

However, British ministers and intelligence officials have said any final decision on 5G would not put critical national infrastructure at risk. Ciaran Martin, head of the cyber center of Britain’s main eavesdropping agency, GCHQ, played down any threat of a rift in the Five Eyes alliance.

(Writing by Michael Holden; Editing by Mark Heinrich)

Source: OANN

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