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Futures muted with U.S.-China trade negotiations in focus

Traders work on the floor of the New York Stock Exchange (NYSE) shortly after the opening bell in New York
Traders work on the floor of the New York Stock Exchange (NYSE) shortly after the opening bell in New York, U.S., March 26, 2019. REUTERS/Lucas Jackson

March 28, 2019

By Shreyashi Sanyal

(Reuters) – U.S. stock index futures treaded water on Thursday, as investors awaited more details on the progress in U.S.-China trade negotiations amid lingering fears of slowing economic growth.

A Reuters report said China has made unprecedented proposals on a range of issues including forced technology transfer, though sticking points still remained and there was no definite timetable for a deal.

U.S. Treasury Secretary Steven Mnuchin said he and U.S. Trade Representative Robert Lighthizer looked forward to “productive meetings” as they arrived in Beijing leading a delegation for trade talks.

Meanwhile, Wall Street continued to be in the grip of global growth worries in the face of weak economic data and the Federal Reserve’s decision last week to abandon projections for any interest rate hikes this year.

Wall Street’s main indexes came under pressure on Friday when the U.S. Treasury yield curve inverted for the first time since 2007. If it remains inverted for long, it could indicate that a recession is likely in one to two years. [US/]

Treasury prices continued its rally on Thursday, pushing the benchmark 10-year yields to fresh 15-month lows.

At 7:15 a.m. ET, Dow e-minis were up 4 points, or 0.02 percent. S&P 500 e-minis were down 0.25 points, or 0.01 percent and Nasdaq 100 e-minis were up 0.25 points, or 0 percent.

Credit rating agency S&P Global became the latest to cut its 2019 euro zone growth forecast to 1.1 percent from 1.6 percent.

Investors will look to gauge the pace of economic growth in the United States from the Commerce Department’s final estimate of fourth-quarter gross domestic product. The report is set to be released at 8:30 a.m. ET and is expected to show the economy grew at an annualized rate of 2.4 percent.

Energy stocks fell in premarket trading as crude prices dropped, extending losses into a second consecutive session, following a surprise rise in U.S. crude inventories.

Boeing Co edged up 0.2 percent, extending the previous day’s gains, after the planemaker unveiled software fixes to defend its 737 MAX airliners.

Nielsen Holdings Plc fell 9.9 percent in light volumes after a report that private equity firm Blackstone Group backed out of an auction to buy the ratings company.

Lululemon Athletica Inc rose 12.3 percent after company forecast full-year profit above analysts’ estimates.

(Reporting by Shreyashi Sanyal and Amy Caren Daniel in Bengaluru; Editing by Arun Koyyur)

Source: OANN

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Bystanders Attack Police During Arrest in Culturally-Enriched Netherlands

Police officers were attacked by bystanders during an attempted arrest in the Netherlands city of Utrecht, according to local media.

A melee broke out in front of a halal eatery on Kanaalstreet when a suspect reportedly resisted apprehension, prompting officers to escalate use of force.

The man in question was wanted for skipping an outstanding community service sentence, NL Times reports, citing a police statement.

"At that moment, dozens of bystanders stood around the arrest. There was scolding, pushing, beating, kicking and pulling," the statement explained. "The officers were forced to pull their baton."

Multiple videos of the brawl were shared to social media, showing onlookers assailing officers before a back-up contingent arrives.

One officer can be seen receiving a blow to the back of the head during the apprehension, sparking additional attacks.

"The police also said that two women continued to interfere with the arrest, despite warnings, and pushed and pulled at the officers," NL Times reports. "The suspect whose arrest started this whole incident, managed to slip away in the commotion."

The original suspect was later apprehended, along with three others, and more arrests may follow, police say.

Could the fire at Notre Dame cathedral signal the grand finale of the Islamic takeover of France?

(PHOTOS: Screenshots)

Source: InfoWars

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U.S. trade deficit narrows sharply as exports rebound

FILE PHOTO: Shipping containers are pictured stacked on a ship docked at Yusen Terminals at the Port of Los Angeles
FILE PHOTO: Shipping containers are pictured stacked on a ship docked at Yusen Terminals (YTI) on Terminal Island at the Port of Los Angeles in Los Angeles, California, U.S., January 30, 2019. REUTERS/Mike Blake/File Photo

March 27, 2019

WASHINGTON, (Reuters) – – The U.S. trade deficit dropped more than expected in January likely as China boosted purchases of soybeans, leading to a rebound in exports after three straight monthly declines.

The Commerce Department said on Wednesday the trade deficit declined 14.6 percent, the largest decline since March 2018, to $51.1 billion also as softening domestic demand and lower oil prices curbed the import bill.

Data for December was revised slightly down to show the trade gap widening to $59.9 billion instead of the previously reported $59.8 billion. Economists polled by Reuters had forecast the trade gap narrowing to $57.0 billion in January.

The trade deficit remains elevated despite President Donald Trump’s “America First” policies, which have left the United States mired in a bruising trade war with China and provoked retaliatory tariffs from other trading partners.

Washington last year imposed tariffs on $250 billion worth of goods imported from China, with Beijing hitting back with duties on $110 billion worth of American products, including soybeans and other commodities.

Trump has delayed tariffs on $200 billion worth of Chinese imports as negotiations to resolve the eight-month trade war continue, with Beijing pledging to resume bulk purchases of soybeans after cancellations at the height of the trade fight.

U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin are in China this week for another round of talks with Chinese Vice Premier Liu He.

The politically sensitive trade deficit with China fell 6.4 percent to $34.5 billion in January.

When adjusted for inflation, the goods trade deficit decreased $7.8 billion to $83.8 billion in January. The drop in the so-called real goods trade deficit could see economists bump up their very low first-quarter gross domestic product growth estimates.

Retail sales, manufacturing and homebuilding data have suggested the economy lost considerable momentum early in the first quarter. The Atlanta Federal Reserve is forecasting GDP rising at a 1.3 percent annualized rate in the January-March quarter. The government reported last month that the economy grew at a 2.6 percent pace in the fourth quarter.

But that estimate is likely to be lowered when the government publishes a revision on Thursday as some economic data for December was weaker than had been previously assumed.

The trade deficit in January was pushed down by a 0.9 percent increase in exports to $207.3 billion. Soybean exports rose by $0.9 billion in January.

Exports of motor vehicles and parts increased by $1.2 billion, but shipments of capital goods decreased by $0.8 billion, led by a $1.3 billion decline in civilian aircraft.

Export growth, however, continues to be constrained by slowing global demand and the dollar’s strength last year, which is making U.S.-made goods less competitive on foreign markets. Despite the rise in soybean shipments, exports to China were the smallest since September 2010.

In January, imports fell 2.6 percent to $258.5 billion, the lowest level since last June. Imports previously had surged, likely as businesses stocked up in anticipation of further duties on Chinese imports.

Capital goods imports dropped by $3.0 billion in January, led by a $0.9 billion decline in imports of computer accessories. There were also decreases in imports of semiconductors and civilian aircraft.

Crude oil imports dropped by $1.4 billion, partly reflecting lower prices. Imported oil prices averaged $42.59 per barrel in January, the cheapest since December 2016.

(Reporting By Lucia Mutikani; Editing by Andrea Ricci)

Source: OANN

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Asian shares tread water amid mixed growth signals

FILE PHOTO: Pedestrians are reflected on an electronic board showing stock prices outside a brokerage in Tokyo
FILE PHOTO: Pedestrians are reflected on an electronic board showing stock prices outside a brokerage in Tokyo, Japan December 27, 2018. REUTERS/Kim Kyung-Hoon

April 12, 2019

By Andrew Galbraith

SHANGHAI (Reuters) – Asian shares were flat and U.S. Treasury yields pulled back on Friday as investor caution prevailed ahead of the release of first-quarter corporate earnings, although stronger U.S. economic data helped offset some concerns about global growth.

Early in the trading day, MSCI’s broadest index of Asia-Pacific shares outside Japan was barely higher, up 0.03 percent.

Higher Chinese iron ore prices helped Australian shares outpace regional markets, pushing Australia’s S&P/ASX 200 index up 0.7 percent.

Japan’s Nikkei stock index gained 0.1 percent.

The weak gains in Asian markets followed a choppy session on Wall Street that left major indexes treading water, hemmed in by anxiety ahead of corporate earnings and worries about a global economic slowdown, which capped gains from upbeat U.S. economic data.

The Dow Jones Industrial Average fell 0.05 percent to 26,143.05, the S&P 500 closed flat at 2,888.32 and the Nasdaq Composite dropped 0.21 percent to 7,947.36.

Tempering expectations for a sharp slowdown in U.S. growth as data that showed the number of Americans filing applications for unemployment benefits dropped to a 49-1/2-year low last week

Comments from U.S. Federal Reserve Vice Chairman Richard Clarida that the U.S. economy is in a “good place” but reemphasizing the Fed’s patience on rate hikes, also helped to reassure investors.

“One of the big take away from the past few days has been the broad decline in volatility across markets,” National Australia Bank (NAB) analysts said in a morning note. NAB attributed the muted reaction to recent events to dovish policy shifts by central banks, signs that China’s stimulus measures are having an effect, continued U.S.-China trade talks and the Brexit delay.

International Monetary Fund Managing Director Christine Lagarde said on Thursday that the six-month delay of Britain’s exit from the European Union avoids the “terrible outcome” of a “no-deal” Brexit, but does nothing to lift uncertainty over the final outcome.

Underscoring ongoing threats to the health of the global economy, IMF Deputy Managing Director Mitsuhiro Furusawa warned that a bigger-than-expected slowdown in China’s economy remains a key risk to global growth.

U.S. Treasury yields inched lower amid the cautious retreat in shares, after earlier rising on the U.S. jobless claims data, stronger producer prices and a weak 30-year bond auction.

On Friday morning, the yield on benchmark 10-year Treasury notes fell to 2.4952 percent compared with its U.S. close of 2.504 percent on Thursday, while the two-year yield, touched 2.354 percent compared with a U.S. close of 2.356 percent.

In currency markets, the dollar was up less than 0.1 percent against the yen at 111.73, while the euro gained 0.27 percent on the day to buy $1.1280.

The dollar index, which tracks the greenback against a basket of six major rivals, was down 0.1 percent at 97.047.

U.S. crude ticked up 0.27 percent at $63.75 a barrel, while Brent crude was up 0.2 percent at $70.97 per barrel.

Gold was slightly higher, having fallen more than 1 percent on Thursday to break below the key $1,300 level following solid U.S. data. Spot gold was trading at $1,293.30 per ounce. [GOL/]

(Reporting by Andrew Galbraith; Editing by Sam Holmes)

Source: OANN

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Moon's office angrily reacts to Pyongyang 'spokesman' claim

The office of South Korean President Moon Jae-in has responded sharply to comments by a conservative lawmaker who accused him of acting as the "top spokesman" of North Korean leader Kim Jong Un.

The Blue House said in a statement on Tuesday that Na Kyung-won's comments were an insult to both Moon and South Koreans wanting peace and demanded an apology.

Na's speech at the National Assembly was interrupted for about 20 minutes after legislators from the ruling liberal party reacted angrily to her comments, approaching the podium and engaging in shouting matches with opposition lawmakers.

Moon has held three summits with Kim and lobbied hard to revive nuclear talks between Washington and Pyongyang, which resulted in two meetings between Trump and President Donald Trump.

Source: Fox News World

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British foreign secretary urges Brexit solution

Britain's foreign secretary is telling a German audience that securing an orderly British departure from the European Union is "of paramount importance."

Jeremy Hunt was meeting officials in Berlin on Wednesday ahead of Prime Minister Theresa May's trip to Brussels later in the day to meet EU Commission President Jean-Claude Juncker. May is seeking changes to the already-negotiated withdrawal agreement after British lawmakers rejected it — but the EU says it won't be reopened.

Hunt said in a speech to the Konrad Adenauer Foundation, a think tank linked to Chancellor Angela Merkel's party, that failing to secure a ratified agreement "would be deeply damaging, economically and politically."

He said that "in the vital weeks ahead, standing back and hoping that Brexit solves itself will not be enough."

Source: Fox News World

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Jewish Labour Movement passes motion of no confidence in Corbyn

British opposition Labour Party leader Jeremy Corbyn leaves his home in London
British opposition Labour Party leader Jeremy Corbyn leaves his home in London, Britain, April 3, 2019. REUTERS/Henry Nicholls

April 7, 2019

LONDON (Reuters) – The Jewish Labour Movement, which is affiliated to Britain’s main opposition Labour Party, passed a motion of no confidence in party leader Jeremy Corbyn on Sunday over his handling of anti-Semitism complaints, Sky News reported.

Corbyn, a veteran campaigner for Palestinian rights and a critic of the Israeli government, has long been accused of failing to tackle anti-semitism in the Labour Party.

Several lawmakers quit the party this year in protest against what they said was rising anti-Semitism within it and because they oppose Labour’s position on Brexit.

Corbyn has promised to drive anti-Semitism out of Labour, and earlier on Sunday, Shami Chakrabarti, the party’s legal policy chief, urged the Jewish Labour Movement to “stay in Labour and to tackle racism together”.

“My plea to the Jewish Labour Movement is … not to personalize it and make it about Jeremy Corbyn because he is one person and he won’t be leader forever,” she told Sky.

(Reporting by Elizabeth Piper; Editing by Catherine Evans)

Source: OANN

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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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President Trump on Friday said “no money” was paid to North Korea for Otto Warmbier, after reports that the U.S. received a $2 million hospital bill from Pyongyang for the late American prisoner’s care.

“No money was paid to North Korea for Otto Warmbier, not two Million Dollars, not anything else. This is not the Obama Administration that paid 1.8 Billion Dollars for four hostages, or gave five terroist[sic] hostages plus, who soon went back to battle, for traitor Sgt. Bergdahl!” Trump tweeted Friday.

NORTH KOREA GAVE US $2M HOSPITAL BILL OVER CARE OF AMERICAN OTTO WARMBIER, SOURCES SAY

The Washington Post first reported that North Korean authorities insisted the U.S. envoy sent to retrieve Warmbier, 21, who was a student of the University of Virginia, sign a pledge to pay the bill before allowing Warmbier’s comatose body to return to the United States. Sources confirmed the bill and the amount to Fox News on Thursday.

Sources told the post that the envoy signed an agreement to pay the medical bill on instructions from the president, but a source told Fox News that the U.S. did not ever pay money to North Korea.

The White House declined to comment when asked on the bill, with Press Secretary Sarah Sanders saying in a statement that: “We do not comment on hostage negotiations, which is why they have been so successful during this administration.”

Meanwhile, the president added: “’President[sic] Donald J. Trump is the greatest hostage negotiator that I know of in the history of the United States. 20 hostages, many in impossible circumstances, have been released in last two years. No money was paid.’ Cheif[sic] Hostage Negotiator, USA!”

Warmbier was on tour in North Korea when he allegedly stole a propaganda sign from a hotel. He was arrested in January 2016 and sentenced to 15 years in prison with hard labor in March 2016. Warmbier, for unknown reasons, fell into a coma while in custody and was held in that condition for an additional 17 months.

North Korean officials did not tell American officials until June 2017 that Warmbier had been unconscious the entire time. He died less than a week after he returned to the U.S. North Korean officials, though, have repeatedly denied accusations that Warmbier was tortured, instead claiming that he had suffered from botulism and then slipped into a coma after taking a sleeping pill.

AMERICAN PRISONERS HELD IN NORTH KOREA ON THEIR WAY HOME AFTER POMPEO VISIT, TRUMP SAYS

Fred and Cindy Warmbier sued North Korea over their son’s death and in December were awarded $501 million in damages – money that the Hermit Kingdom will probably never pay.

While the Warmbiers blamed North Korean leader Kim Jong Un, Trump has said he believes Kim’s claims that he did not know about the student’s treatment.

Trump and Kim have met in two separate summits. The most recent, held in February, ended without an agreement on denuclearization of the Korean Peninsula.

Sen. Rob Portman, R-Ohio, told Fox News: “Otto Warmbier was mistreated by North Korea in so many ways, including his wrongful conviction and harsh sentence, and the fact that for 16 months they refused to tell his family or our country about his dire condition they caused.  No, the United States owes them nothing. They owe the Warmbier family everything.”

Last year, the Trump administration was also able to save three American prisoners held by North Korea. Kim Dong Chul, Tony Kim, and Kim Hak Song were all detained in North Korea. Secretary of State Mike Pompeo brought the three Americans home last May, and said they were all in “good health.”

Fox News’ John Roberts, Rich Edson, Nicholas Kalman, and Mike Emanuel contributed to this report.

Source: Fox News Politics

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Park Yoo-chun, a K-pop idol singer, arrives at the Suwon district court in Suwon
Park Yoo-chun, a K-pop idol singer, arrives at the Suwon district court in Suwon, South Korea, April 26, 2019. REUTERS/Kim Hong-Ji

April 26, 2019

SEOUL (Reuters) – K-pop and drama star Park Yu-chun was arrested on Friday on charges of buying and using illegal drugs, a court said, the latest in a series of scandals to hit the South Korean entertainment business.

Suwon District Court approved the arrest warrant for Park, 32, due to concerns over possible destruction of evidence and flight risk, a court spokesman told Reuters.

Park is suspected of having bought about 1.5 grams of methamphetamine with his former girlfriend earlier this year and using the drug around five times, an official at the Gyeonggi Nambu Provincial Police Agency said.

Park has denied wrongdoing, saying he had never taken drugs, and he again denied the charges in court, Yonhap news agency said.

Park’s contract with his management agency had been canceled and he would leave the entertainment industry, Park’s management agency, C-JeS Entertainment, said on Wednesday.

Park was a member of boyband TVXQ between 2003 and 2009 before leaving the group with two other members, forming the group JYJ.

A scandal involving sex tapes, prostitutes and secret chat about rape led at least four other K-pop stars to quit the industry earlier this year.

The cases sparked a nationwide drugs bust and investigations into tax evasion and police collusion at night clubs and other nightlife spots.

(Reporting by Joyce Lee; Additional reporting by Heekyong Yang; Editing by Nick Macfie)

Source: OANN

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