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Banks ordered to disclose bondholder information to Puerto Rico board

The flag of Puerto Rico flies outside the Capitol building in San Juan
The flag of Puerto Rico flies outside the Capitol building in San Juan, Puerto Rico May 4, 2017. REUTERS/ Alvin Baez

April 18, 2019

SAN JUAN (Reuters) – A judge on Thursday ordered banks to comply with a request from Puerto Rico’s federally created financial oversight board to disclose customer information related to certain debt issued by the bankrupt U.S. commonwealth.

The ruling boosts a potential effort by the board to recover billions of dollars in payments made to bondholders should a federal court hearing Puerto Rico’s bankruptcy cases choose to invalidate disputed debt issued by the government and its agencies.

U.S. Magistrate Judge Judith Gail Dein’s order said “good cause exists” to grant the board’s motion, which seeks to compel banks to submit bondholder names and addresses along with Puerto Rico debt payments the bondholders received between 2013 and 2017.

The Bank of New York Mellon, Bank of America Corp, JP Morgan Chase Bank, and U.S. Bank objected to the board’s request last week, citing concerns over disclosing confidential customer information, as well as the cost and ability to produce a large amount of information by the April 19 deadline set by the board.

The judge ordered the banks and the board to submit a proposed confidentiality agreement by April 23 and set rolling deadlines of April 25, April 30 and May 8 for the banks to submit bondholder information. She rejected requests by the banks to be reimbursed for their costs and for indemnity for claims that could result from compliance with the order.

It was unclear whether the banks will appeal. Attorneys for the banks either declined to comment or could not immediately be reached. 

The quest for bondholder information is related to an attempt by the board and some creditor groups in the bankruptcy to have the federal court void more than $6 billion of defaulted general obligation (GO) bonds sold in 2012 and 2014, as well as debt issued by Puerto Rico’s Public Buildings Authority and bonds sold for the island’s Employees Retirement System.

The board filed bankruptcy for the island in May 2017 to restructure about $120 billion of debt and pension obligations. But it did not seek to void the GO bonds on the basis they were issued in violation of debt limits in the Puerto Rico Constitution until January 2019, just months before the statute of limitations on bringing such actions runs out in early May.

U.S. District Court Judge Laura Taylor Swain is scheduled to take up the board’s motion to extend that deadline at an April 24 hearing.

(Reporting By Luis Valentin Ortiz in San Juan and Karen Pierog in Chicago; Editing by Matthew Lewis)

Source: OANN

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Omar's comments threaten to divide district's Somali, Jewish residents: reports

Last week, Thomas Friedman, the columnist for the New York Times penned a column about his obvious connection to Rep. Ilhan Omar, the newly elected firebrand from Minnesota’s Fifth District—a Democratic stronghold.

Friedman was raised there. He called the district a "crazy mix of Minnesota Jews (we called ourselves "the Frozen Chosen”)" that welcomed Somali refugees like 37-year-old "a half-century later" and elected her to Congress.

The Washington Post reported that Somali refugees started to arrive in the state back in 1993 and, despite their cultural differences, these groups came together to work for the common good. But recent comments by Omar has reportedly strained the relationship in the community.

MEGHAN McCAIN ACCUSES JEWISH ARTIST OF ANTI-SEMITISM AFTER MOCKING OMAR COMMENT

Omar Jamal, a Somali community activist, told the Post that he has been in touch with Jewish leaders after Omar's comments viewed by some as anti-Semitic. He supported her campaign but called her recent comments, "wrong, period," according to the report.

"This is up to Ilhan Omar," he said. "She has really spoken in a very dangerous way, and it’s going to be up to her to reach out to people and fix this."

The paper reported that one Jewish leader showed Omar a picture of a cousin who was killed in WWII and said that is why questioning dual loyalty is offensive.

Avi S. Olitzky, a senior rabbi in St. Louis Park, which is in the Fifth District, told The Star-Tribune that Omar’s comments have been a clear attack on the Jewish community.

Omar has apologized for her comments and has support from her Democratic colleagues. House Speaker Nancy Pelosi raised eyebrows on Friday when she said the congresswoman “doesn’t understand” that some of the words she uses are "fraught with meaning."

Omar – who filled the House seat that was held by Keith Ellison -- also took aim at former President Obama in an interview with Politico on Friday, saying his message of “hope” and “change” was a “mirage.”

"Recalling the ‘caging of kids’ at the U.S.-Mexico border and the ‘droning of countries around the world’ on Obama’s watch," Omar charged that Obama "operated within the same fundamentally broken framework as his Republican successor,” the piece read.

“We can’t be only upset with Trump… His policies are bad, but many of the people who came before him also had really bad policies," Omar reportedly said. "They just were more polished than he was."

Omar’s rhetoric has been embraced by some. Her proponents see her attack on AIPAC as bold. Amber Harris, a constituent, told the Star-Tribune that the attacks against Omar are unfair and “obscene.”

“She’s trying to change the Democratic Party to what I think it should be,” she said.

Friedman, for his part, pointed out in his column that he has a lot in common with Omar, but said his dislike of Aipac is based on that fact that it has “let itself become the slavish, unthinking tool of Netanyahu, who opposes a two-state solution, I believe Aipac works against Israel’s long-term interests.”

He wrote that evidence that he's seen suggests that Omar's dislike for Aipac is based on a dislike for Israel.

"Ilhan Omar represents, among other neighborhoods, a significant and liberal Jewish community — my hometown," he wrote. “I can tell you that a vast majority of Jews there would be proud if their congresswoman used her links to American Jews and Muslims to be a bridge builder for peace in the Middle East and America, not just another Aipac/Israel basher. She is young and very new to the national spotlight. Friends of mine back home tell me her humanistic instincts are impressive and authentic. I don’t know if it’s her or her advisers, but she’s gotten herself into a bad place — a huge missed leadership opportunity.

Source: Fox News Politics

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Source: InfoWars

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US man arrested for allegedly stabbing wife at Tokyo court

Japanese police arrested an American man on Wednesday on suspicion of fatally stabbing his Japanese wife at a court where they were to settle a divorce, officials and media reports said.

The man, identified only as a 32-year-old U.S. citizen, stabbed the woman in the neck near a security check at the entrance to Tokyo Family Court, police said. The suspect's name was not released due to concern about his mental condition and his motive was not known, police said.

The victim, identified as Kyoko Wilson, 31, was taken to a hospital but later died, police said.

Television video showed police and court guards scrambling to cover the crime scene with a blue tarp. An aerial view showed the man after he had apparently fled being caught in a nearby park, where he was seen lying on the ground surrounded by police.

The suspect had three knives and police believe he ambushed the woman when she walked into the building, NHK public television reported.

Source: Fox News World

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Grandmother, 79, killed by Amtrak train reportedly shoved granddaughter to safety

A 79-year-old Massachusetts woman killed by an Amtrak train Monday reportedly saved her granddaughter’s life by shoving her out of the way of the speeding train as it rushed toward them.

Hilda Figueroa and her granddaughter, Hilda Sanchez, 26, were on their way home from shopping in Springfield when they crossed the tracks at an unauthorized point and the train came bearing down on them, MassLive reported.

LONG ISLAND RAIL ROAD TRAIN SLAMS INTO CAR 'TRYING TO BEAT THE GATE,' 3 KILLED, OFFICIALS SAY

“There was no whistle, no horn,” Sanchez, who was named for her grandmother, told the news outlet. “It was just too fast and she pushed me out of the way.”

Sanchez walked away with only a bruised hand, but her grandmother, who was sent flying more than 50 feet when the train struck her, died of the resulting injuries as an ambulance rushed her to a hospital, the outlet reported.

No one aboard the train was injured, WWLP-TV of Springfield reported.

The exact speed of the train has yet to be determined, although an Amtrak spokeswoman told MassLive that the speed limit for that section is 50 mph. She also noted that Amtrak considers those who use that particular crossing to be trespassing.

“Railroad property is private property,” Amtrak spokeswoman Beth K. Toll said. “If you are on railroad tracks or railroad property without the expressed permission of the railroad property owner, you are trespassing.”

TRANSIT AGENCY'S RELIANCE ON DOUGHNUT SHOP TO OPEN STATION HAS COMMUTERS RAILING

But Sanchez said many others in the neighborhood use that crossing, including schoolchildren, because it’s “the shortest way.” She also pointed out that a crossing guard is stationed nearby.

The city had planned to address the safety risk the dangerous crossing poses by building a $6.3 million pedestrian tunnel under the tracks, MassLive reported. Construction for the tunnel was set to begin shortly, after years of discussion, near the spot where Figueroa was struck and killed.

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Figueroa’s daughter, Maria Nieves, told MassLive about the final moment she shared with her mother after witnessing the train strike her.

“My mother smiled at me and then closed her eyes,” she said.

Figueroa called Springfield home for 30 years, and was a beloved member of the community, Sanchez said.

Source: Fox News National

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How did Bernie Sanders make his money? A look at his wealth and assets

As a self-described Democratic socialist, Sen. Bernie Sanders, I-Vt., has been outspoken about economic inequality.

During his 2016 presidential campaign and beyond, he declared that wealth inequality is “the great moral issue of our time.”

Now that he’s running for president again, the 77-year-old continues to advocate for the poor and middle class, including appealing for a $15-an-hour minimum wage and tuition-free colleges and universities.

And yet, his own net worth is unknown.

Sanders will join Fox News Channel for a Town Hall co-anchored by Bret Baier and Martha MacCallum on Monday, April 15, at 6:30 p.m. ET in Bethlehem, Pennsylvania.

BERNIE SANDERS FAST FACTS: 5 THINGS TO KNOW ABOUT THE VERMONT SENATOR

Back in 2016, Sanders was allegedly the 19th-poorest U.S. senator, The Washington Post reported. However, he has since published four books, and that's said to have helped make him a millionaire.

"I wrote a best-selling book," Sanders told The New York Times. "If you write a best-selling book, you can be a millionaire, too."

According to estimates from Celebrity Net Worth, Sanders’ net worth is roughly $2 million, based on his book sales, royalties and speaking engagements.

As his presidential bid ramps up, Sanders has received pressure to release his tax returns -- which he promised to do by April 15 last week on “The Daily Show.” He said he plans to release 10 years' worth of returns.

“April 15 is coming,” Sanders told host Trevor Noah. “That will be the 10th year and we will make them all public very shortly.”

Until he releases his tax returns, here’s a look at what is already known about the senator’s income and assets.

Income as a senator

As a senator, Sanders makes $174,000 a year, according to the Congressional Research Service, which reported on Senate salaries last year.

Book royalties

Sanders made $880,091.14 in book royalties in 2017, according to the senator’s financial disclosure documents filed in May 2018.

Those royalties included a $505,000 advance on his book “Where We Go From Here,” which was published in 2018, Newsweek reported.

Sanders has three books published by Macmillan and one book, “Outside in the White House,” published by Verso Publications.

Album royalties

In 1987, Sanders recorded a politically focused folk album through Todd R. Lockwood Works called “We Shall Overcome.”

WHAT IS 'DEMOCRATIC SOCIALISM'? BERNIE SANDERS' POLITICAL IDEOLOGY EXPLAINED

During his 2016 campaign, the album got some attention -- though not always positive, The Guardian reported.

However, he did make some royalties on the resurfaced music. In his 2016 financial disclosure documents, Sanders reported receiving $2,520.60, but in 2017 he only received $539.47.

Real estate

In 2015, Politico reported, Sanders owned at least two homes -- one in Vermont and one in Washington, D.C.

According to Forbes, Sanders and his wife, Jane O’Meara Sanders, bought a four-bedroom, two-and-a-half-bathroom house in Vermont in 2009 for $405,000. He also reportedly bought a one-bedroom town house in D.C. in 2007 for $488,999.

Sanders bought a third residence in 2016 -- a house on Lake Champlain in Vermont -- for $575,000, according to The Washington Post.

Pension and retirement savings

From 1981 to 1989, Sanders served as the mayor of Burlington, Vt. He receives an annual pension for that service and in 2017, he received $5,137, according to his financial disclosure documents.

According to estimates from Money, Sanders’ retirement savings total more than $1 million.

Other assets

All other assets on Sanders’ 2017 financial disclosure form, including stock and mutual fund accounts, were listed under his spouse, except for two joint accounts -- one with the U.S. Senate Federal Credit Union valued at somewhere between $100,001 and $250,000, and one with the People's United Bank in Vermont -- its value is between $50,001 and $100,000.

Source: Fox News Politics

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Traders work on the floor at the NYSE in New York
FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 24, 2019. REUTERS/Brendan McDermid

April 26, 2019

By Sruthi Shankar and Amy Caren Daniel

(Reuters) – U.S. stock index futures were flat on Friday, as investors paused ahead of GDP data, which is expected to show the world’s largest economy maintained a moderate pace of growth in the first quarter.

Gross domestic product probably increased at a 2% annualized rate in the quarter as a burst in exports, strong inventory stockpiling and government investment in public construction projects offset a slowdown in consumer and business spending, according to a Reuters survey of economists.

The Commerce Department report will be published at 8:30 a.m. ET.

The GDP data comes as investors look for fresh catalysts to push the markets higher. The S&P 500 index is about 0.5% below its record high hit in late September, after surging nearly 17% this year.

First-quarter earnings have been largely upbeat, with nearly 78% of the 178 companies that have reported so far surpassing earnings estimates, according to Refinitiv data.

Wall Street now expects S&P 500 earnings to be in line with the year-ago quarter, a sharp improvement from the 2.3% fall expected at the start of April.

Amazon.com Inc rose 0.9% in premarket trading after the e-commerce giant reported quarterly profit that doubled and beat estimates on soaring demand for its cloud and ad services.

Ford Motor Co shares surged 8.5% after the automaker posted better-than-expected first-quarter earnings largely due to strong pickup truck sales in its core U.S. market.

Mattel Inc jumped 8% after the toymaker beat analysts’ estimates for quarterly revenue, as a more diverse range of Barbie dolls powered sales in the United States.

At 6:52 a.m. ET, Dow e-minis were down 35 points, or 0.13%. S&P 500 e-minis were down 1.5 points, or 0.05% and Nasdaq 100 e-minis were up 10.75 points, or 0.14%.

Among decliners, Intel Corp slumped 7.7% after it cut its full-year revenue forecast and missed quarterly sales estimate for its key data center business.

Rival Advanced Micro Devices declined 0.8%.

Oil majors Exxon Mobil Corp and Chevron Corp are expected to report results later in the day.

(Reporting by Sruthi Shankar and Amy Caren Daniel in Bengaluru; Editing by Anil D’Silva)

Source: OANN

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General view of a destroyed building during World War II is pictured in Warsaw
General view of a destroyed building during World War II is pictured in Warsaw, Poland April 26, 2019. REUTERS/Kacper Pempel

April 26, 2019

By Joanna Plucinska

WARSAW (Reuters) – Germany could owe Poland more than $850 billion in reparations for damages it incurred during World War Two and the brutal Nazi occupation, a senior ruling party lawmaker said.

Some six million Poles, including three million Polish Jews, were killed during the war and Warsaw was razed to the ground following a 1944 uprising in which about 200,000 civilians died.

Germany, one of Poland’s biggest trade partners and a fellow member of the European Union and NATO, says all financial claims linked to World War Two have been settled.

The right-wing Law and Justice (PiS) has revived calls for compensation since it took power in 2015 and has made the promotion of Poland’s wartime victimhood a central plank of its appeal to nationalism.

PiS has yet to make an official demand for reparations but its combative stance towards Germany has strained relations.

“Poland lost not only millions of its citizens but it was also destroyed in an unusually brutal way,” Arkadiusz Mularczyk, who heads the Polish parliamentary committee on reparations, told Reuters in an interview.

“Many (victims) are still alive and feel deeply wronged.”

His comments come a month before European Parliament elections in which populist and nationalist parties are expected to do well. Poland will also hold national elections later this year, with PiS still well ahead of its rivals in opinion polls.

EU LARGESSE

Mularczyk said the reparations figure could amount to more than 10 times the estimated 100 billion euros ($111 billion) that Poland has received so far in European Union funds since it joined the bloc in 2004.

Germany is the biggest net donor to the EU budget and some Germans regard its contributions as generous compensation to recipient countries like Poland which suffered under Nazi rule.

In 1953 Poland’s then-communist rulers relinquished all claims to war reparations under pressure from the Soviet Union, which wanted to free East Germany, also a Soviet satellite, from any liabilities. PiS says that agreement is invalid because Poland was unable to negotiate fair compensation.

Mularczyk said his committee hoped to complete its report on the reparations issue by Sept. 1, the 80th anniversary of Hitler’s invasion.

Accusing Berlin of playing “diplomatic games” over the issue, he said: “The matter is being swept under the rug (by Germany) … until it’ll be wiped from the memory, from people’s awareness.”

His comments come after the Greek parliament voted this month to seek billions of euros in German reparations for the Nazi occupation of their country.

(Additional reporting by Anna Wlodarczak-Semczuk, Editing by Justyna Pawlak and Gareth Jones)

Source: OANN

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FILE PHOTO - Otto Frederick Warmbier is taken to North Korea's top court in Pyongyang North Korea
FILE PHOTO – Otto Frederick Warmbier (C), a University of Virginia student who was detained in North Korea since early January, is taken to North Korea’s top court in Pyongyang, North Korea, in this photo released by Kyodo March 16, 2016. Mandatory credit REUTERS/Kyodo/File Photo

April 26, 2019

WASHINGTON (Reuters) – U.S. President Donald Trump on Friday said the United States did not pay any money to North Korea as it sought the release of comatose American student Otto Warmbier.

The Washington Post reported on Thursday that Trump had approved payment of a $2 million bill from North Korea to cover its care of the college student, who died shortly after he was returned to the United States after 17 months in a North Korean prison.

(Reporting by Makini Brice and Susan Heavey)

Source: OANN

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Al-Qaida in Yemen is vowing to avenge beheadings carried out by Saudi Arabia this week — an indication that some of the 37 Saudis executed on terrorism-related charges were members of the Sunni militant group.

Al-Qaida in the Arabian Peninsula, as the branch is called, posted a statement on militant-linked websites on Friday, accusing the kingdom of offering the blood of the “noble children of the nation just to appease America.”

The statement says al-Qaida will “never forget about their blood and we will avenge them.”

U.S. ally Saudi Arabia on Tuesday executed 37 suspects convicted on terrorism-related charges. Most were believed to be Shiites but at least one was believed to be a Sunni militant.

His body was pinned to a pole in public as a warning to others.

Source: Fox News World

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For two friends with checkered pasts it was the luck of a lifetime: a 4 million-pound ($5.2 million) lottery win.

But Mark Goodram and Jon-Ross Watson may see their celebrations cut short.

The Sun newspaper reports that Britain’s National Lottery is withholding the payout as it investigates whether the men, who have a string of criminal convictions, used illicit means to buy the winning ticket.

The Sun said neither man has a bank account, leading lottery organizers to investigate how they obtained the bank-issued debit card that paid for the 10 pound ($13) scratch card.

Camelot, which runs the lottery, said Friday it couldn’t confirm details of the story because of winner-anonymity rules. The firm said it holds a “thorough investigation” if there is any doubt about a claim.

Source: Fox News World

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