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Roseanne Barr Slams AOC, Calls Socialism 'Fake Con'

Disgraced actress Roseanne Barr ripped into freshman Rep. Alexandria Ocasio-Cortez, D-N.Y, over her proposed Green New Deal in a profanity-laden video she posted to YouTube.

"I'm going to try to correct some of the mistakes she's made, like costing hundreds of people decent paying jobs because, I don't know, because they breathe carbon in the air or some horse-sh**," Barr said. "She got paid to do that. She got paid to decimate communities. But that's what the Dems have been doing. That's what socialism does.

"Socialism is a fake fu***ng con. It's just like capitalism but it comes from the bottom up. It's a fu***ng Ponzi scheme and a con game."

AOC's proposal, which was also crafted by Sen. Ed Markey, D-Mass., says it will pay attention to groups like the poor, disabled, and minority communities that could be disproportionately affected by massive economic transitions. The deal sets goals for some drastic measures to cut carbon emissions across the economy and aims to create jobs.

Many Democrats have co-authored the bill.

Barr, whose show, "Roseanne," was canceled last May by ABC after she made a racially charged crack about Valerie Jarrett, also claimed in her video that Democrats were motivated to bring in immigrants because "no Americans are going to vote for their ass anymore."

Source: NewsMax Politics

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Saudi-led coalition’s air strikes hit Yemeni capital

A man stands at the site of an air strike in al-Jeraf neighbourhood of Sanaa
A man stands at the site of an air strike in al-Jeraf neighbourhood of Sanaa, Yemen April 10, 2019. REUTERS/Khaled Abdullah

April 10, 2019

CAIRO (Reuters) – The Saudi-led coalition carried out air strikes in Yemen against two Houthi targets in Sanaa, the capital, early on Wednesday, its spokesman said.

The coalition said the strikes targeted a Houthi drone-manufacturing plant and a warehouse containing launch pads. Residents said a house was also hit, but no casualties were reported.

Saudi Arabia leads a Western-backed alliance of Yemeni and Arab forces that has been fighting the Iran-aligned Houthi movement in neighboring Yemen since March 2015, after Houthi forces drove Yemeni President Abd-Rabbu Mansour Hadi into exile. They are fighting to restore Hadi’s internationally recognized government.

The Houthis, who say their revolution is against corruption, control Sanaa and most population centers. The strikes hit the al-Jeraf neighborhood in north Sanaa.

Houthi-run Masirah TV said a fire broke out in a plastics factory as a result of air strikes early on Wednesday.

The U.N. has said that a blast in Sanaa near two schools on Sunday killed 14 children and injured more.

“It was almost lunchtime and students were in class. The blast shattered the windows and unleashed a burst of shrapnel and broken glass into the classrooms,” said Geert Cappelaere, UNICEF’s Middle East head.

It is unclear what caused the blast and U.N. Yemen aid coordinator Lise Grande called for efforts to pinpoint the circumstances “that led to this tragedy”.

Yemen’s war has killed tens of thousands of people – some of them by coalition air strikes – and driven 10 million to the brink of famine. The country is also suffering its third major outbreak of cholera since the conflict began.

A peace process that began with a December agreement has stalled and, although a ceasefire largely holds in Hodeidah, Yemen’s main port, violence continues elsewhere and has escalated in recent weeks.

The U.N. is trying to get the parties to pull troops out of Hodeidah and complete a prisoner exchange, two confidence- building measures which could pave the way for further talks.

(Reporting by Mohamed El-Sherif, writing by Lisa Barrington; editing by Sandra Maler, Michael Perry, Larry King)

Source: OANN

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The Latest: Storm debris blocks some roads in Kentucky

The Latest on severe weather in the South (all times local):

11:30 am

State transportation officials are asking motorists to avoid traveling in some areas of western Kentucky due to damage from a reported tornado.

A statement from Kentucky Transportation Cabinet spokesman Keith Todd says motorists should avoid traveling in western McCracken County and southeastern Ballard County for at least the remainder of Thursday.

Todd says storm debris has blocked areas along U.S. 62 from Kentucky 305 to Kentucky 286 in McCracken County. Todd said there are report of pieces of grain bins, barns, homes and other debris in the roadway and some of it can't be cleared until utility crews arrive to cut power. He said there are additional areas of downed trees and power lines reported in the West Paducah area.

Todd says motorists should avoid US 62 and KY 286 to allow emergency responders to work in the area unimpeded.

Earlier, officials at the National Weather Service in Paducah tweeted that a tornado blew past their office.

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11 am

Weather officials in Kentucky say a tornado has blown past their office.

The National Weather Service in Paducah tweeted Thursday morning, "TORNADO JUST MISSED OUR OFFICE IN WEST PADUCAH. TAKE SHELTER NOW IF YOU'RE IN PADUCAH!!!!" The tweet was posted at 9:30 a.m., Central Daylight Time.

There was no immediate word on any damage.

Weather forecasters say numerous severe storms are possible beginning Thursday afternoon in the Tennessee Valley region and as far south as the northern Birmingham area.

Officials said schools are closing early in north Alabama because of the severe weather possibility.

Forecasters say winds up to 60 mph are possible along with isolated tornadoes and hail.

The state is on the southern end of a storm system that pummeled the central United States.

Source: Fox News National

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Greece to get euro zone money in April if all reforms done: Centeno

FILE PHOTO: Eurogroup President Centeno attends a eurozone finance ministers meeting in Brussels
FILE PHOTO: Portugal's Finance Minister and Eurogroup President Mario Centeno attends a eurozone finance ministers meeting in Brussels, Belgium February 11, 2019. REUTERS/Francois Lenoir

March 11, 2019

BRUSSELS (Reuters) – Euro zone finance ministers could release 750 million euros for Greece in April if Athens completes by then the reforms agreed with creditors, the chairman of euro zone finance ministers Mario Centeno said on Monday.

“If all commitments are met, we will consider in April further implementation of agreed debt relief measures,” Centeno told a news conference.

(Reporting By Jan Strupczewski)

Source: OANN

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7 dead, others shot in election-related attack in Bangladesh

Police say at least seven people were killed and 15 others wounded by gunmen who opened fire on two cars returning from a polling station with ballot boxes in southeastern Bangladesh.

Local police official Manjurul Alam said early Tuesday that the attack took place on Monday evening when the polling and security officials were returning from the polling station at Baghaichhari in Rangamati district, an area once hit by tribal insurgency.

He said military helicopters carried 11 critically injured people to a military hospital.

Voting was held in Rangamati to elect local government officials, but some candidates boycotted, citing irregularities. It was not clear who were behind the attacks. Several armed tribal groups are active.

Source: Fox News World

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Hickenlooper's Comment About Female Candidates Draws Ire

Democratic presidential candidate and former Colorado Gov. John Hickenlooper is being criticized for comments he made during a town hall meeting asking why female presidential candidates weren’t being asked whether they were willing to put men on their ticket as vice president, The Free Beacon reports.

"Governor, some of your male competitors have vowed to put a woman on the ticket. Yes or no, would you do the same?" asked CNN’s Dana Bash.

"Of course," Hickenlooper said. "Well, I’ll ask you another question. … How come we're not asking more often the women, ‘Would you be willing to put a man on the ticket?'"

The Denver Post said Hickenlooper was known for “putting his foot in his mouth," while Elle questioned his focus.

“Why don't the women get asked about gender parity?” wrote R. Eric Thomas. “Do we care about equality or not, people? Will a man ever get a chance to be vice president or are we stuck with Julia Louis-Dreyfuss and Robin Wright forever? Oh, and Glenn Close in Air Force One. So many women! It's an epidemic!”

Hickenlooper has a history of verbal miscues, including in 2014 when he said the vast majority of Latinos “don’t care about a pathway to citizenship.”

"They want to be able to get on an airplane and get down to Mexico City and visit their grandparents. And they want to get a job and be able to get paid over the table,” he told the Wall Street Journal back then.

Source: NewsMax Politics

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The Latest: US cardinals say ex-colleague's downfall sad

The Latest on Pope Francis' sex abuse summit at the Vatican (all times local):

4:10 p.m.

Two U.S. cardinals attending the Vatican's sex abuse prevention summit say the downfall of their onetime colleague Theodore McCarrick is sad but they hope a new spirit of accountability in the Catholic hierarchy will prevent future cover-ups of bishop misconduct.

Cardinals Sean O'Malley of Boston and Blase Cupich of Chicago addressed the McCarrick scandal at a news conference on the summit's second day, which was dedicated to accountability.

Pope Francis defrocked McCarrick last week after the Vatican found him guilty of sexually abusing minors and adults, including during confession. It was apparently an open secret in some Catholic circles in the U.S. and at the Vatican that he slept with seminarians.

O'Malley said Friday he expected the Vatican and U.S. dioceses investigating McCarrick's rise through the church would soon release the findings from their investigations

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11 a.m.

Cardinals attending Pope Francis' summit on preventing clergy sex abuse are calling for a new culture of accountability in the Catholic Church to punish bishops and religious superiors when they fail to protect their flocks from predator priests.

On the second day of Francis' extraordinary gathering of Catholic leaders, the debate shifted to how church leaders must acknowledge that decades of their own cover-ups, secrecy and fear of scandal had only worsened the sex abuse crisis.

Mumbai Cardinal Oswald Gracias says "we need to seek pardon ... because along the way we have failed,"

Chicago Cardinal Blase Cupich told the conference that new legal procedures were needed to both report and investigate Catholic superiors when they are accused of misconduct themselves or of negligence in handling abuse cases. He said lay experts must be involved at every step of the process.

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More AP coverage of clergy sex abuse at https://www.apnews.com/Sexualabusebyclergy

Source: Fox News World

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FILE PHOTO - A worker sits on a ship carrying containers at Mundra Port in the western Indian state of Gujarat
FILE PHOTO: A worker sits on a ship carrying containers at Mundra Port in the western Indian state of Gujarat April 1, 2014. REUTERS/Amit Dave/File Photo

April 26, 2019

(Reuters) – India has once again delayed the implementation of higher tariffs on some goods imported from the United States to May 15, a government official said on Friday.

The new tariff structure was to come into force from May 2, the spokeswoman said without citing reasons for the delay.

Angered by Washington’s refusal to exempt it from new steel and aluminum tariffs, New Delhi decided in June last year to raise the import tax from Aug. 4 on some U.S. products including almonds, walnuts and apples.

But since then, New Delhi has repeatedly delayed the implementation of the new tariff.

Trade friction between India and the U.S. has escalated after U.S. President Donald Trump announced plans earlier this year to end preferential trade treatment for India that allows duty-free entry for up to $5.6 billion worth of its exports to the United States.

In a further blow, U.S. on Monday demanded buyers of Iranian oil stop purchases by May or face sanctions, ending six months of waivers which allowed Iran’s eight biggest buyers including India to continue importing limited volumes.

(Reporting by Manoj Kumar in New Delhi and Kanishka Singh in Bengaluru; Editing by Anil D’Silva and Raissa Kasolowsky)

Source: OANN

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One of Joe Biden’s newly-hired senior advisers has seemingly had a very recent change of heart.

Symone Sanders, a prominent Democratic strategist and Sen. Bernie Sanders, I-Vt., staffer in 2016, was announced as one of the big-name members of Team Biden on Thursday.

But Sanders, who has also served as a CNN contributor, is seen in resurfaced footage from November 2016 expressing her opposition to a white person leading her party after Donald Trump’s election.

“In my opinion, we don’t need white people leading the Democratic party right now,” Sanders told host Brianna Keilar during a discussion on Howard Dean potentially becoming DNC chairman.

BIDEN HIRES FORMER BERNIE SANDERS’ SPOKESPERSON AS SENIOR ADVISER

“The Democratic party is diverse, and it should be reflected as so in leadership and throughout the staff, at the highest levels. From the vice chairs to the secretaries all the way down to the people working in the offices at the DNC,” she said.

Sanders wrapped up her remarks by saying: “I want to hear more from everybody. I want to hear from the millennials and the brown folks.”

Footage of the interview was resurfaced by RealClearPolitics.

After news of her hiring broke on Thursday, Sanders backed her new boss on Twitter.

TRUMP ASSESSES 2020 DEMS; TAKES SWIPES AT BIDEN, SANDERS; DISMISSES HARRIS, O’ROURKE; SAYS HE’S ROOTING FOR BUTTIGIEG

“@JoeBiden & @DrBiden are a class act. Over the course of this campaign, Vice President Biden is going to make his case to the American ppl. He won’t always be perfect, but I believe he will get it right,” she wrote.

The hiring of Sanders has been viewed as another indication of the expected tough fight that Biden and Sanders are in for as the two frontrunners battle a deep Democratic field.

While Sanders himself didn’t torch Biden as he jumped into the race, it’s clear that many of his progressive supporters view the former vice president as a threat.

Biden’s entry into the race – at least in the early going – sets up a battle between himself and Sanders, who thanks to his fierce fight with eventual nominee Hillary Clinton for the 2016 Democratic nomination, enjoys name ID on the level of the former vice president.

BIDEN VOWS THAT ‘AMERICA IS COMING BACK,’ SPARKING ‘MAGA’ COMPARISONS

Justice Democrats — who also called Biden “out-of-touch” – is an increasingly influential group among the left of the party. They’ve championed progressive Rep. Alexandria Ocasio-Cortez of New York as well as Sanders. The group was founded by members of Sanders 2016 presidential campaign.

Biden has pushed back against the perception that he’s a moderate in a party that’s increasingly moving to the left. Earlier this month he described himself as an “Obama-Biden Democrat.”

And Biden said he’d stack his record against “anybody who has run or who is running now or who will run.”

Former Democratic National Committee chair Donna Brazile – a Fox News contributor – highlighted that “Joe Biden can occupy his own lane in large part because he’s earned it. He’s earned the right to call himself whatever.”

CLICK HERE TO GET THE FOX NEWS APP

But she emphasized that “elections are not about the past, they’re about the future…I do believe he has the right ingredients. The question is can he find enough people to help him stir the pot.”

Fox News Andrew O’Reilly contributed to this report.

Source: Fox News Politics

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Baltimore Mayor Catherine Pugh, who is facing increased calls for her immediate resignation, remains in poor health and is not “lucid” enough to decide whether to step down, her attorney told reporters late Thursday.

Steve Silverman, speaking outside one of Pugh’s residences which was raided by the FBI and IRS earlier in the day, said the embattled city leader could make a decision as early as next week.

“She is leaning toward making the best decision in the best interest in the citizens of Baltimore City,” he said, adding that Pugh has “several options” to consider.

“She just needs to be physically and mentally sound and lucid enough to make appropriate decisions.”

BALTIMORE MAYOR CATHERINE PUGH, ON LEAVE AMID BOOK PROBE, HAS HOMES AND CITY HALL OFFICE RAIDED BY FEDS

Silverman said Pugh met with a doctor at home Thursday and plans to do so again Friday, the Baltimore Sun reported.

In the latest image-tarnishing scandal for struggling Baltimore, the first-term Democratic mayor faces accusations that she used children’s book deals to cover up kickbacks for favorable treatment as a state lawmaker and city leader that earned her roughly $800,000 over several years.

BALTIMORE’S ACTING MAYOR SAYS HE ‘WOULD HATE TO SEE’ EMBATTLED MAYOR RETURN AFTER BOOK SCANDALS

As a state senator, 69-year-old Pugh sold $500,000 worth of her self-published “Healthy Holly” illustrated paperbacks to the University of Maryland Medical System, a major state employer whose board she sat on for nearly 20 years.

Baltimore police officers stand outside the house of Baltimore Mayor Catherine Pugh in Baltimore, MD., Thursday, April 25, 2019. Agents with the FBI and IRS are gathering evidence inside the two homes of Pugh and also in City Hall. (AP Photo/Jose Luis Magana)

Baltimore police officers stand outside the house of Baltimore Mayor Catherine Pugh in Baltimore, MD., Thursday, April 25, 2019. Agents with the FBI and IRS are gathering evidence inside the two homes of Pugh and also in City Hall. (AP Photo/Jose Luis Magana)

UMMS reportedly paid Pugh for 100,000 copies of her books between 2011 and 2018 with the stated intention of distributing the books to schools and day care centers. But some 50,000 copies remain unaccounted for and officials are probing if they were even printed.

Pugh also made $300,000 in bulk sales to other customers including health carriers that did business with the city of Baltimore.

BALTIMORE CITY COUNCIL CALLS ON EMBATTLED MAYOR CATHERINE PUGH TO RESIGN IMMEDIATELY

The politically isolated Pugh slipped out of sight on April 1 after a hastily organized press conference where she called her no-contract book deals a “regrettable mistake.” That same day, Maryland’s governor called on the state prosecutor to investigate allegations of “self-dealing.”

Pugh took an indefinite leave of absence, citing her health deteriorating intensely after a bout with pneumonia.

Federal agents arrive at the Maryland Center for Adult Training in Baltimore. MD, Thursday, April 25, 2019. Agents with the FBI and IRS are gathering evidence inside the two homes of Baltimore Mayor Catherine Pugh and in City Hall, as well as the office of her lawyer and the home of a top aide.

Federal agents arrive at the Maryland Center for Adult Training in Baltimore. MD, Thursday, April 25, 2019. Agents with the FBI and IRS are gathering evidence inside the two homes of Baltimore Mayor Catherine Pugh and in City Hall, as well as the office of her lawyer and the home of a top aide. (Loyd Fox/Baltimore Sun via AP)

On Thursday morning, agents with the FBI and IRS searched her two Baltimore homes, her City Hall offices, and a nonprofit organization she once led. The home of at least one of Pugh’s aides was also scoured.

Silverman said federal agents also served a subpoena at his law firm, retrieving Pugh’s original financial records. They did not seek any attorney-client privileged communications, he said.

Pugh’s attorney said she was “emotionally extremely distraught” following the searches by FBI and IRS agents.

“There was nothing incriminating that came out of her home,” Silverman said.

UMMS spokesman Michael Schwartzberg told reporters that the medical system received a grand jury witness subpoena seeking documents and information related to Pugh.

Other probes against Pugh include a review by the city ethics board and the Maryland Insurance Administration.

BALTIMORE MAYOR’S $500G DEAL FOR ‘HEALTHY HOLLY’ CHILDREN’S BOOKS DRAWS SCRUTINY

In recent weeks, the calls for Pugh’s resignation have intensified with the strongest voice coming from Republican Gov. Larry Hogan, who did not mince words after Thursday’s early morning raids.

“Now more than ever, Baltimore City needs strong and responsible leadership. Mayor Pugh has lost the public trust,” he said. “She is clearly not fit to lead. For the good of the city, Mayor Pugh must resign.”

Federal Bureau of Investigation, and Internal Revenue Service agents search the home of Baltimore Mayor Catherine Pugh in Baltimore, MD., Thursday, April 25, 2019. Agents with the FBI and IRS are gathering evidence inside the two homes of Baltimore Mayor Catherine Pugh and in City Hall.

Federal Bureau of Investigation, and Internal Revenue Service agents search the home of Baltimore Mayor Catherine Pugh in Baltimore, MD., Thursday, April 25, 2019. Agents with the FBI and IRS are gathering evidence inside the two homes of Baltimore Mayor Catherine Pugh and in City Hall. (Jerry Jackson/Baltimore Sun via AP)

Many of her fellow Democrats, including those on Baltimore’s demoralized City Council and state lawmakers, are also insisting that Pugh put the citizens’ interests above any attempt to preserve her political career.

City Council member Brandon Scott called the Thursday raids “an embarrassment to the city.”

However, only a conviction can trigger a mayor’s removal from office, according to the city solicitor. Baltimore’s mayor-friendly City Charter currently provides no options for ousting its executive.

Six of Pugh’s staffers joined her on paid leave earlier this month; three of them were fired this week by the acting mayor.

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Pugh came to office in late 2016 after edging out ex-Mayor Sheila Dixon, who had spent much of her tenure fighting corruption charges before being forced to depart office in 2010 as part of a plea deal connected to the misappropriation of about $500 in gift cards meant for needy families.

She would certainly face a bruising 2020 Democratic primary if she were to return and run for reelection. Veteran City Council leader Bernard “Jack” Young, who is serving as acting mayor, said as she went on leave that he would merely be a placeholder. But this week, before the raids, he said “it could be devastating for her” if she tried to return.

The Associated Press contributed to this report.

Source: Fox News National

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FILE PHOTO: Cases of Pepsi are shown for sale at a store in Carlsbad
FILE PHOTO: Cases of Pepsi are shown for sale at a store in Carlsbad, California, U.S., April 22, 2017. REUTERS/Mike Blake/File Photo

April 26, 2019

By Amit Dave and Mayank Bhardwaj

AHMEDABAD/NEW DELHI (Reuters) – PepsiCo Inc has sued four Indian farmers for cultivating a potato variety that the snack food and drinks maker claims infringes its patent, the company and the growers said on Friday.

Pepsi has sued the farmers for cultivating the FC5 potato variety, exclusively grown for its popular Lay’s potato chips. The FC5 variety has a lower moisture content required to make snacks such as potato chips.

PepsiCo is seeking more than 10 million rupees ($142,840.82) each for alleged patent infringement.

The farmers grow potatoes in the western state of Gujarat, a leading producer of India’s most consumed vegetable.

“We have been growing potatoes for a long time and we didn’t face this problem ever, as we’ve mostly been using the seeds saved from one harvest to plant the next year’s crop,” said Bipin Patel, one of the four farmers sued by Pepsi.

Patel did not say how he came by the PepsiCo variety.

A court in Ahmedabad, the business hub of Gujarat, on Friday agreed to hear the case on June 12, said Anand Yagnik, the lawyer for the farmers.

“In this instance, we took judicial recourse against people who were illegally dealing in our registered variety,” A PepsiCo India spokesman said. “This was done to protect our rights and safeguard the larger interest of farmers that are engaged with us and who are using and benefiting from seeds of our registered variety.”

PepsiCo, which set up its first potato chips plant in India in 1989, supplies the FC5 potato variety to a group of farmers who in turn sell their produce to the company at a fixed price.

The All India Kisan Sabha, or All India Farmers’ Forum, has asked the Indian government to protect the farmers.

The farmers’ forum has also called for a boycott of PepsiCo’s Lay’s chips and the company’s other products.

The Ministry of Agriculture & Farmers’ Welfare did not immediately respond to an email seeking comment.

PepsiCo is the second major U.S. company in India to face issues over patent infringement.

Stung by a long-standing intellectual property dispute, seed maker Monsanto, which is now owned by German drugmaker Bayer AG, withdrew from some businesses in India over a cotton-seed dispute with farmers, Reuters reported in 2017. (reut.rs/2ncBknn)

(Reporting by Amit Dave in AHMEDABAD and Mayank Bhardwaj in NEW DELHI; Editing by Martin Howell and Louise Heavens)

Source: OANN

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FILE PHOTO: The Archer Daniels Midland Co (ADM) logo is displayed on a screen on the floor of the NYSE in New York
FILE PHOTO: The Archer Daniels Midland Co (ADM) logo is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., May 3, 2018. REUTERS/Brendan McDermid/File Photo

April 26, 2019

By P.J. Huffstutter and Shradha Singh

CHICAGO/BENGALURU (Reuters) – Archer Daniels Midland Co said on Friday it was considering spinning off its ethanol business after slim biofuel margins and Midwestern floods slammed the U.S. grains merchant’s profit, which tumbled 41 percent in the first quarter.

ADM said it was creating an ethanol subsidiary, which will include dry mills in Columbus, Nebraska; Cedar Rapids, Iowa; and Peoria, Illinois.

The ethanol subsidiary will report as an independent segment, the company said, allowing options “which may include, but are not limited to, a potential spin-off of the business to existing ADM shareholders.”

Results were hit by the “bomb cyclone” blizzards that devastated the Midwest and Great Plains this year, causing massive flooding across Nebraska, Iowa and Missouri, washing out rail lines and wreaking havoc in the moving and processing of corn, soybeans and wheat. One-sixth of U.S. ethanol production was halted.

In March, ADM warned Wall Street that flooding and severe winter weather in the U.S. Midwest would reduce its first-quarter operating profit by $50 million to $60 million.

“The first quarter proved more challenging than initially expected,” said Chairman and Chief Executive Officer Juan Luciano, with earnings down in its starches, sweeteners and bioproducts unit. Luciano said impacts of the severe weather ultimately “were on the high side of our initial estimates”.

Ongoing problems in the ethanol industry added to the problems and “limited margins and opportunities” for ADM, Luciano said.

The ethanol industry has been in the midst of a historic downswing due to the U.S.-China trade war, excess domestic supply and weak margins.

ADM, which had been an ethanol pioneer, signaled to Wall Street in 2016 that it was hunting for options and considering sales of its U.S. dry ethanol mills. Luciano told Reuters this year that offers ADM had received for the mills were too low.

In addition, ADM said it planned to repurpose its corn wet mill in Marshall, Minnesota, to produce higher volumes of food and industrial-grade starches.

Other major traders are alsy trying to distance themselves from struggling ethanol businesses. Louis Dreyfus Company BV spun off its Brazilian sugar and ethanol business Biosev in 2013. Rival Bunge sold its sugar book and has sought a buyer for its Brazilian mills since 2013.

ADM, which makes money trading, processing and transporting crops, such as corn, soybeans and wheat, has been looking to strengthen its core business. Last month it said it would seek voluntary early retirements of some North American employees and cut jobs as part of a restructuring effort.

The company expects to lower 2019 capital spending by 10 percent to between $800 million and $900 million.

Net earnings attributable to the company fell to $233 million, or 41 cents per share, in the three months ended March 31, from $393 million, or 70 cents per share, a year earlier.

Revenue fell to $15.30 billion from $15.53 billion. On an adjusted basis, the company earned 46 cents per share, while analysts on average had estimated 60 cents, according to IBES data from Refinitiv.

(Reporting by Shradha Singh in Bengaluru; Editing by Shounak Dasgupta, Chizu Nomiyama and David Gregorio)

Source: OANN

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