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Felicity Huffman, Lori Loughlin to face college scandal charges in Boston court

FILE PHOTO: Actor Felicity Huffman departs an initial hearing for defendants in a racketeering case involving the allegedly fraudulent admission of children to elite universities, at the U.S. federal courthouse in downtown Los Angeles
FILE PHOTO: Actor Felicity Huffman departs an initial hearing for defendants in a racketeering case involving the allegedly fraudulent admission of children to elite universities, at the U.S. federal courthouse in downtown Los Angeles, California, U.S., March 12, 2019. REUTERS/Mike Blake

April 3, 2019

By Nate Raymond

BOSTON (Reuters) – Actors Felicity Huffman and Lori Loughlin are among 15 wealthy parents due in Boston federal court on Wednesday to face charges that they participated in what prosecutors call the largest college admissions scam uncovered in U.S. history.

They are among 50 people federal prosecutors allege participated in schemes that involved cheating on college exams and paying $25 million in bribes to buy the children of affluent Americans seats in well-known universities including Yale, Georgetown and the University of Southern California.

The scam’s mastermind, California college admissions consultant Rick Singer, has pleaded guilty to overseeing a racketeering scheme in which parents paid to help their children cheat on admissions tests and bribe coaches to present them as elite prospects in sports including sailing, crew and water polo even if they had no athletic experience.

“Desperate Housewives” star Huffman and “Full House” actor Loughlin, along with a former chief executive and a major law firm’s onetime chairman, are part of the group scheduled to make their first appearances in Boston court.

Prosecutors allege that Loughlin and her husband, Los Angeles fashion designer Mossimo Giannulli, agreed to pay $500,000 to have their two daughters named as recruits to USC’s crew team, even though they did not row competitively.

Prosecutors said Huffman, who is married to the actor William H. Macy, made a $15,000 contribution to Singer’s foundation in exchange for having an associate of Singer’s in 2017 secretly correct her daughter’s answers on an SAT college entrance exam at a test center Singer “controlled.”

Huffman later made arrangements to engage in the scheme again on her younger daughter’s behalf before deciding not to, prosecutors said.

Other accused parents expected to appear in court include Manuel Henriquez, the former chief executive of specialty finance company Hercules Capital Inc, and Gordon Caplan, the former co-chairman of the law firm Willkie Farr & Gallagher.

Henriquez resigned his position and Caplan was placed on leave after they were charged.

The U.S. Education Department has opened an investigation into eight universities linked to the scandal. Several of the schools have said they would revoke admissions offers to students who had gotten in fraudulently but not yet enrolled and would consider expelling students whose parents participated.

Prosecutors have not yet charged any applicants for illegal activity and said that in some cases the parents charged took steps to try to prevent their children from realizing they were benefiting from fraud.

(Reporting by Nate Raymond; editing by Scott Malone and Susan Thomas)

Source: OANN

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Exclusive: Some lessors to end deals with Jet, prepare to fly planes out of India – sources

FILE PHOTO: A Jet Airways plane is parked as another moves to the runway at the Chhatrapati Shivaji International airport in Mumbai
FILE PHOTO: A Jet Airways plane is parked as another moves to the runway at the Chhatrapati Shivaji International airport in Mumbai, India, February 14, 2018. REUTERS/Danish Siddiqui/File Photo

March 15, 2019

By Aditi Shah and Anshuman Daga

NEW DELHI/SINGAPORE (Reuters) – Some lessors of India’s Jet Airways have begun terminating lease deals over unpaid dues and are preparing to move the leased planes abroad, escalating a crisis for the cash-strapped carrier, five sources with knowledge of the matter told Reuters.

Two lessors have applied to the Directorate General of Civil Aviation (DGCA), India’s aviation regulator, to deregister at least five planes leased to Jet, three of the sources said. Termination of lease agreements normally precedes applications made to the DGCA.

Jet has delayed payments to its pilots, suppliers and lessors for months and defaulted on loans after racking up over $1 billion in debt. While it is now meeting some of its payments, it’s survival hinges on emergency funding from the country’s main state-backed banks.

Frustrated by the unpaid dues, Jet’s lessors, including many of the world’s biggest players such as GE Capital Aviation Services (GECAS), Aercap Holdings and BOC Aviation have already taken control of some their planes, sources said, leading to the grounding of nearly a third of its 119 aircraft fleet.

Once the planes are deregistered, they can be taken out of the country and leased to other airlines.

One of the sources with direct knowledge of the matter said that of the planes being deregistered, two are potentially being flown to China and one to Ireland.

Another industry source said GECAS and Aercap had filed an application to deregister a total of five planes.

Lease terminations could hit the already fragile confidence of business partners of Jet.

Jet did not respond to requests for comment. AerCap declined to comment and there was no immediate response from GECAS to a query sent outside normal business hours.

All the sources declined to be identified due to the sensitivity of the matter.

Founder chairman Naresh Goyal, who transformed Jet to India’s biggest full-service carrier from its humble start 25 years ago, has said it is thrashing out a bailout plan, led by the state-run banks and Abu Dhabi’s Etihad Airways.

Before the groundings, Jet controlled over a sixth of the market, capitalizing on a boom in flying. But high fuel taxes, a weak rupee and ultra-low fares have hurt profitability.

Jet’s financial troubles have rekindled memories of Kingfisher Airlines’ collapse in 2012 that forced lessors to write off millions of dollars.

Last week, FLY Leasing Ltd said it had grounded three planes on lease to Jet and would take them back and reallocate them elsewhere if the airline failed to get approvals for its restructuring plan this month.

Jet has been forced to cancel hundreds of flights and irate passengers have turned to social media platforms to express their outrage.

REPOSSESSION STILL TOUGH

After Kingfisher Airlines’ disorderly collapse in 2012, India modified rules in line with the Cape Town convention, an international treaty that makes it easier for foreign lessors to repossess aircraft during payment defaults.

India said last year it was seeking to revise some local laws, which still conflicted with the full implementation of the convention making it a more complicated process in India than in some other countries.

In theory, lessors have the option of filing a complaint with the government, which in turn can cancel the registration of a plane within five working days, allowing lessors to repossess it subject to certain conditions, including unpaid dues. However, this is often a long process.

According to a government notice issued in November, after any application is filed, all airport operators and other private entities, within five days, need to inform the lessor and DGCA of pending dues related to that aircraft for three months preceding the date of deregistration.

Only after these are cleared, the lessor is allowed to fly the aircraft out of India.

On March 11, DGCA clarified that some of the entities included airports, fuel vendors, tax authorities and customs departments, a move that could further complicate reposessions.

Akshay Nagpal, partner at law firm L&L Partners, said that while this notice is aimed at asking the government and other agencies to be more vigilant in seeking their dues, “one cannot rule out lessors viewing this as a step back from their long-time demand of making repossession easier.”

(Reporting by Aditi Shah and Anshuman Daga; Editing by Muralikumar Anantharaman)

Source: OANN

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National Emergencies not unprecedented

National Emergencies not unprecedented

OAN Newsroom
UPDATED 1:32 PM PT — Friday, February 15, 2019

The first declaration under the National Emergencies Act of 1974 came during the Iran hostage crisis, which is a national emergency that is still active today. Former President Jimmy Carter blocked Iranian government property from entering the country, a move which has been renewed each year by all presidents since then.

“The steps I’ve taken today are those that are necessary now, other action may become necessary if these steps don’t produce the prompt release of the hostages,” President Carter stated the day he declared it.

President Trump has already issued three national emergency declarations during his tenure. The most prominent one is meant to punish foreign actors who interfere in U.S. elections. He’s also invoked his emergency powers to slap sanctions of human rights abusers around the world as well as on members of the Nicaraguan government amid corruption charges.

In his eight years office, former President Barack Obama declared 12 states of national emergency. These declarations touched on subjects from the H1N1 virus and blocking property transfers to people with connections to certain countries. Nearly all of his national emergencies are still active today.

Before that, former President George W. Bush declared 13 emergencies and former President Clinton declared 17 national emergencies, most of which are still active today.

President Donald Trump speaks during an event in the Rose Garden at the White House in Washington, Friday, Feb. 15, 2019, to declare a national emergency in order to build a wall along the southern border. (AP Photo/Susan Walsh)

In President Trump’s case, there’s two statutes that come to mind which allow the redirection of military construction funds. Questions remain as to whether building a border wall is actually a military construction project or whether the president can declare eminent domain over private property. However, even Democrat lawmakers have said he does, indeed, have the power to do so.

“Well unfortunately, the short answer is yeah, there is a provision in law that says the president can declare an emergency, its been done a number of times, but primarily its been done to build facilities in Afghanistan and Iraq,” stated Representative Adam Smith.

The problem for Democrats is many legal scholars aren’t sure who, if anyone, would have the legal standing to challenge such a declaration with a lawsuit.

Source: OANN Top News

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Special Counsel Robert Mueller’s Russia probe report released by Justice Department

The Justice Department on Thursday released to Congress and the public Special Counsel Robert Mueller’s report on his nearly two-year investigation into Russian meddling and potential collusion with Trump campaign associates during the 2016 presidential election.

READ THE REPORT

The version of the nearly 500-page report that the Justice Department made public Thursday includes redactions, consistent with Attorney General Bill Barr’s plan to black out portions of the document—including grand jury material, information the intelligence community believes would reveal intelligence sources and methods, any material that could interfere with ongoing prosecutions and information that could implicate the privacy or reputational interests of “peripheral players.”

Democrats, for weeks, demanded to see the full, unredacted report, and blasted Barr for resisting their requests. Barr, though, said that along with the help of the special counsel’s office, he planned to “color code the decisions from the report and provide explanatory notes describing the basis for each redaction.”

House Judiciary Committee Chairman Jerrold Nadler, D-N.Y., has already vowed to move “very quickly” to issue subpoenas for the full report should he and his colleagues not be satisfied with the amount of, and basis for, redactions.

The partisan warfare that has marked the probe from the start extended into the report’s release day, with Barr coming under fire from Democrats for his decision to hold a press conference in advance. Barr already had come under fire from Democrats after he issued a four-page summary of the special counsel report, where he stated there was no evidence of collusion between members of the Trump campaign and Russia during the 2016 campaign.

The special counsel also reviewed whether the president had obstructed justice in any way, but ultimately did not come to a conclusion on that issue. Barr and Deputy Attorney General Rod Rosenstein, though, said the evidence was “not sufficient to establish that the President committed an obstruction-of-justice offense.”

Rosenstein defended Barr’s conduct last week and told The Wall Street Journal that the idea Barr was trying to mislead people was “completely bizarre.”

The evidence detailed in the report related to allegations of obstruction of justice, though, is likely to come under intense scrutiny from congressional Democrats, and could be used in their sweeping Trump-related investigations.

The president’s legal team, in anticipation of obstruction of justice claims in the report, has prepared their own report to counter the allegations.

“They assumed all along that there was going to be a finding of no collusion, so the rebuttal is about obstruction,” a source close to Trump’s legal team told Fox News. “They are preparing a rebuttal to presumed allegations which will be refuted.”

Fox News' Adam Shaw, Jake Gibson, Catherine Herridge and Bill Mears contributed to this report. 

Source: Fox News Politics

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Instagram adds new feature to let U.S. users shop via app

Silhouettes of mobile users are seen next to a screen projection of Instagram logo in this picture illustration
FILE PHOTO: Silhouettes of mobile users are seen next to a screen projection of Instagram logo in this picture illustration taken March 28, 2018. REUTERS/Dado Ruvic/Illustration

March 19, 2019

(Reuters) – Facebook Inc’s Instagram will now let U.S. users to shop products directly from the photo sharing app by adding a ‘checkout’ feature on items tagged for sale, the company said on Tuesday.

The move is in line with Facebook’s plan to monetize higher-growth units like Instagram, especially as the company’s centerpiece product, News Feed, struggles to generate fresh interest.

Instagram said it has partnered with more than 20 brands, including Adidas and H&M, on the new feature.

The photo sharing app has more than 130 million people tapping to reveal product tags in shopping posts every month, up from 90 million in September, it said.

(Reporting by Munsif Vengattil in Bengaluru and Katie Paul in San Francisco; Editing by Arun Koyyur)

Source: OANN

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Volkswagen management and works council divided over restructuring plans

FILE PHOTO: An employee moves car components in a production line at the Volkswagen plant in Wolfsburg
FILE PHOTO: An employee moves car components in a production line at the Volkswagen plant in Wolfsburg, Germany, March 1, 2019. REUTERS/Fabian Bimmer

March 20, 2019

BERLIN (Reuters) – Volkswagen’s supervisory board is set to meet on Friday to discuss the company’s ambitious cost-reduction plans, Der Spiegel reported on Wednesday, citing company sources.

The magazine said the extraordinary board meeting has been scheduled to mediate between management at Germany’s biggest carmaker and the head of its works council, Bernd Osterloh, who is also a member of the supervisory board.

A Volkswagen spokesman said he did not know of any planned board session.

A participant at a staff gathering on Wednesday told Reuters that Osterloh had said that unless the management offered concessions on planned job cuts there could be a confrontation that would “paralyze the company for months”.

Volkswagen this month said it would shrink its workforce by up to 7,000, raise productivity and eke out 5.9 billion euros ($6.7 billion) in annual savings at its core VW brand by 2023 in an effort to raise operating margins to 6 percent.

Der Spiegel, which also referred to the staff meeting, reported that Osterloh demanded a jobs guarantee to 2029 and that the Wolfsburg-based carmaker restaffs all currently open positions.

“I will tell Mr. Porsche the same thing this week,” Osterloh was quoted as saying by the meeting participant who spoke to Reuters.

Wolfgang Porsche is chairman of Porsche SE, the holding company that controls Volkswagen, and is a member of Volkswagen’s supervisory board. Tensions had flared this month after he criticized what he described as rigid structures in Wolfsburg and demanded greater flexibility from VW’s workers to help Chief Executive Herbert Diess to overhaul the carmaker.

“We give job guarantees until 2025 or 2028 and have no idea what the competition in China will be unveiling in two years time,” Porsche said at the time.

Osterloh has retaliated by blaming management mistakes for high costs and low profitability at VW.

(Reporting by Tassilo Hummel; Editing by Douglas Busvine and David Goodman)

Source: OANN

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Tencent targets 10 percent of managers for job cuts or demotion: Bloomberg

FILE PHOTO: Logo of Tencent is displayed at a news conference in Hong Kong, China
FILE PHOTO: Logo of Tencent is displayed at a news conference in Hong Kong, China March 22, 2017. REUTERS/Tyrone Siu

March 19, 2019

(Reuters) – Tencent Holdings Ltd is putting about 10 percent of its managers on notice, as China’s largest gaming and social media company shakes up its workforce amid cooling growth and intensified competition, Bloomberg reported on Tuesday, citing sources.

The company’s lowest-performing general managers will need to leave or be demoted, mainly because not much staff-pruning has occurred in the past, President Martin Lau told an internal meeting late last year, the report said.

Tencent, which will report earnings later this week, did not immediately respond to request for comment.

This comes after a report said last month JD.com Inc, one of China’s largest e-commerce sites, would lay off 10 percent of its senior executives this year.

(Reporting by Bhanu Pratap in Bengaluru; Editing by Subhranshu Sahu)

Source: OANN

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Members of The Cranberries, bassist Mike Hogan, drummer Fergal Lawler and guitarist Noel Hogan speak to Reuters during an interview in London
Members of The Cranberries, bassist Mike Hogan, drummer Fergal Lawler and guitarist Noel Hogan speak to Reuters during an interview in London, Britain, April 24, 2019. REUTERS/Gerhard Mey

April 26, 2019

By Hanna Rantala

LONDON (Reuters) – Irish rockers The Cranberries are saying goodbye with their final album released on Friday, a poignant tribute to lead singer Dolores O’Riordan who died last year.

“In the End” is the eighth studio album from the band that rose to fame in the early 1990s with hits likes “Zombie” and “Linger”, and includes the final recordings by O’Riordan, who drowned in a London hotel bath in January 2018 due to alcohol intoxication.

Work on the album began during a 2017 tour and by that winter, O’Riordan and guitarist Neil Hogan had penned and demoed 11 tracks.

With O’Riordan’s vocals recorded, Hogan, bassist Mike Hogan and drummer Fergal Lawler completed the album in tribute to her.

“When we realized how strong the songs were, that was the deciding factor really… There was no point… trying to ruin the legacy of the band,” Noel Hogan said in an interview.

“It was obvious that Dolores wanted this album done because when you hear the album, you hear the songs and how strong they are, and she was very, very excited to get in and record this.”

The Cranberries formed in Limerick in 1989 with another singer. O’Riordan replaced him a year later and the group went on to become Ireland’s best-selling rock band after U2, selling more than 40 million records.

O’Riordan, known for her strong distinctive voice singing about relationships or political violence, was 46 when she died.

“She was actually in quite a good place mentally. She was feeling quite content and strong and looking forward to a new phase of her life,” Lawler said.

“A lot of the lyrics in this album are about things ending… people might read into it differently but it was a phase of her personal life that she was talking about.”

The group previously announced their intention to split after the release of “In The End”.

“We are absolutely gutted we can’t play (the songs) live because that’s something that’s been a massive part of this band from day one,” Noel Hogan said.

“A few people have said to us about maybe even doing a one off where you have different vocalists… as kind of guests of ours. A year ago that’s definitely something we weren’t going to entertain but I don’t know, I think it’s something we need to go away and take time off for the summer and have a think about.”

Critics have generally given positive reviews of the album; NME described it as “(seeing) the band’s career go full-circle” while the Irish Times called it “an unexpected late career high and a remarkable swan song for O’Riordan”.

Their early songs still play on the radio. This week, “Dreams” was performed at the funeral of journalist Lyra McKee, who was shot dead in Londonderry last week as she watched Irish nationalist youths attack police following a raid.

“We wrote them as kids, as a hobby and 30 years later they are on radio and on TV, like all the time… That’s far more than any of us ever thought we would have,” Noel Hogan said.

“That would make Dolores really happy because she was very precious about those songs. Her babies, she called them and to have that hopefully long after we’re gone… that’s all any band can wish for.”

(Reporting by Hanna Rantala; additoinal reporting by Marie-Louise Gumuchian; Writing by Marie-Louise Gumuchian; Editing by Susan Fenton)

Source: OANN

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2020 Democratic presidential candidate Elizabeth Warren participates in the She the People Presidential Forum in Houston
2020 Democratic presidential candidate Elizabeth Warren participates in the She the People Presidential Forum in Houston, Texas, U.S. April 24, 2019. REUTERS/Loren Elliott

April 26, 2019

By Joshua Schneyer and M.B. Pell

NEW YORK (Reuters) – Senator Elizabeth Warren will introduce a bill Friday that offers new protections for U.S. military families facing unsafe housing, following a series of Reuters reports revealing squalid conditions in privately managed base homes.

The Reuters reports and later Congressional hearings detailed widespread hazards including lead paint exposure, vermin infestations, collapsing ceilings, mold and maintenance lapses in privatized base housing communities that serve some 700,000 U.S. military family members.

(View Warren’s military housing bill here. https://tmsnrt.rs/2Dy5aht)

(Read Reuters’ Ambushed at Home series on military housing here. https://www.reuters.com/investigates/section/usa-military)

The Massachusetts Democrat’s bill would mandate both regular and unannounced spot inspections of base homes by certified, independent inspectors, holding landlords accountable for quickly fixing hazards. The military’s privatization program for years allowed real estate firms to operate base housing with scant oversight, Reuters found, leaving some tenants in unsafe homes with little recourse against landlords.

The bill would also require the Department of Defense and its private housing operators to publish reports annually detailing housing conditions, tenant complaints, maintenance response times and the financial incentives companies receive at each base. The provisions aim to enhance transparency of housing deals whose finances and operations the military had allowed to remain largely confidential under a privatization program since the late 1990s.

The measure would also require private landlords to cover moving costs for at-risk families, and healthcare costs for people with medical conditions resulting from unsafe base housing, ensuring they receive continuing coverage even after they leave the homes or the military.

“This bill will eliminate the kind of corner-cutting and neglect the Defense Department should never have let these private housing partners get away with in the first place,” Warren said in a statement Friday.

The proposed legislation comes after February Senate hearings where Warren, a member of the Senate Armed Services Committee who is seeking the Democratic nomination for the 2020 U.S. presidential election, slammed private real estate firms for endangering service families, and sought answers about why military branches weren’t providing more oversight.

Her legislation would direct the Defense Department to allow local housing code enforcers onto federal bases, following concerns they were sometimes denied access. Warren’s office said a companion bill in the House of Representatives would be introduced by Rep. Deb Haaland, Democrat of New Mexico.

In response to the housing crisis, military branches are developing a tenant bill of rights and hiring hundreds of new housing staff. The branches recently dispatched commanders to survey base housing worldwide for safety hazards, resulting in thousands of work orders and hundreds of tenants being moved. The Defense Department has pledged to renegotiate its 50-year contracts with private real estate firms.

Congress has been quick to take its own measures. Earlier legislation proposed by senators Dianne Feinstein and Kamala Harris of California, along with Mark Warner and Tim Kaine of Virginia, would compel base commanders to withhold rent payments and incentive fees from the private ventures if they allow home hazards to persist.

(Editing by Ronnie Greene)

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FILE PHOTO: Offices of Deloitte are seen in London
FILE PHOTO: Offices of Deloitte are seen in London, Britain, September 25, 2017. REUTERS/Hannah McKay/File Photo

April 26, 2019

By Noor Zainab Hussain and Tanishaa Nadkar

(Reuters) – Deloitte quit as Ferrexpo’s auditor on Friday, knocking its shares by more than 20 percent, days after saying it was unable to conclude whether the iron ore miner’s CEO controlled a charity being investigated over its use of company donations.

Blooming Land, which coordinates Ferrexpo’s Corporate Social Responsibility (CSR) program, came under scrutiny after auditors found holes in the charity’s statements.

Ferrexpo on Tuesday said findings of an ongoing independent investigation launched in February indicated some Blooming Land funds could have been “misappropriated”. It did not provide any details or publish its findings.

Shares in Ferrexpo, the third largest exporter of pellets to the global steel industry, were 23.4 percent lower at 206.1 pence at 1022 GMT following news of Deloitte’s resignation.

“Ferrexpo’s shares are deeply discounted vs peers … following the resignation of Deloitte, we expect downside risks to dominate Ferrexpo’s shares near term.” JP Morgan analyst Dominic O’Kane said in a note on Friday.

Swiss-headquartered Ferrexpo did not provide a reason for the resignation of Deloitte, which declined to comment, while Blooming Land did not respond to a request for comment.

Funding for Blooming Land’s CSR activities is provided by one of Ferrexpo’s units in Ukraine and Khimreaktiv LLC, an entity ultimately controlled by Ferrexpo’s CEO and majority owner Kostyantin Zhevago, Ferrexpo said on Tuesday.

Ferrexpo’s board has found that Zhevago did not have significant influence or control over the charity, but Deloitte said it was unable reach a conclusion on this.

Reuters was not immediately able to contact Zhevago.

In a qualified opinion, a statement addressing an incomplete audit, Deloitte said it had been unable to conclude whether $33.5 million of CSR donations to Blooming Land between 2017 and 2018 was used for “legitimate business payments for charitable purposes”.

Deloitte said on Tuesday that total CSR payments made to Blooming Land by Ferrexpo since 2013 total about $110 million.

Ferrexpo, whose major mines are in Ukraine, has said that the investigation was ongoing and new evidence pointed to potential discrepancies.

Zhevago, 45, who ranked 1,511 on Forbes magazine’s list of billionaires for 2019 with a net worth of $1.4 billion, owns the FC Vorskla soccer club and has been a member of Ukraine’s parliament since 1998.

(Reporting by Noor Zainab Hussain and Tanishaa Nadkar in Bengaluru and additional reporting by Pavel Polityuk in Kiev; editing by Gopakumar Warrier, Bernard Orr)

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Children walk past a damaged building in the aftermath of the Cyclone Kenneth in Pemba
Children walk past a damaged building in the aftermath of the Cyclone Kenneth in Pemba, Mozambique April 26, 2019 in this still image obtained from social media. SolidarMed via REUTERS ATTENTION EDITORS – THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY. MANDATORY CREDIT. NO RESALES. NO ARCHIVES

April 26, 2019

By Emma Rumney and Stephen Eisenhammer

JOHANNESBURG/LUANDA (Reuters) – Cyclone Kenneth killed at least one person and left a trail of destruction in northern Mozambique, destroying houses, ripping up trees and knocking out power, authorities said on Friday.

The cyclone brought storm surges and wind gusts of up to 280 km per hour (174 mph) when it made landfall on Thursday evening, after killing three people in the island nation of Comoros.

It was the most powerful storm on record to hit Mozambique’s northern coast and came just six weeks after Cyclone Idai battered the impoverished nation, causing devastating floods and killing more than 1,000 people across a swathe of southern Africa.

The World Food Programme warned that Kenneth could dump as much as 600 millimeters of rain on the region over the next 10 days – twice that brought by Cyclone Idai.

One woman in the port town of Pemba died after being hit by a falling tree, the Emergency Operations Committee for Cabo Delgado (COE) said in a statement, while another person was injured.

In rural areas outside Pemba, many homes are made of mud. In the main town on the island of Ibo, 90 percent of the houses were destroyed, officials said. Around 15,000 people were out in the open or in “overcrowded” shelters and there was a need for tents, food and water, they said.

There were also reports of a large number of homes and some infrastructure destroyed in Macomia district, a mainland district adjacent to Ibo.

A local group, the Friends of Pemba Association, had earlier reported that they could not reach people in Muidumbe, a district further inland.

Mark Lowcock, United Nations under-secretary-general for humanitarian affairs, warned the storm could require another major humanitarian operation in Mozambique.

“Cyclone Kenneth marks the first time two cyclones have made landfall in Mozambique during the same season, further stressing the government’s limited resources,” he said in a statement.

FLOOD WARNINGS

Shaquila Alberto, owner of the beach-front Messano Flower Lodge in Macomia, said there were many fallen trees there, and in rural areas people’s homes had been damaged. Some areas of nearby Pemba had no power.

“Even my workers, they said the roof and all the things fell down,” she said by phone.

Further south, in Pemba, Elton Ernesto, a receptionist at Raphael’s Hotel, said there were fallen trees but not too much damage. The hotel had power and water, he said, while phones rang in the background. “The rain has stopped,” he added.

However Michael Charles, an official for the International Federation of the Red Cross and Red Crescent Societies (IFRC), said heavy rains over the next few days were likely to bring a “second wave of destruction” in the form of flooding.

“The houses are not all solid, and the topography is very sandy,” Charles said.

In the days after Cyclone Idai, heavy inland rains prompted rivers to burst their banks, submerging entire villages, cutting areas off from aid and ruining crops. There were concerns the same could happen again in northern Mozambique.

Before Kenneth hit, the government and aid workers moved around 30,000 people to safer buildings such as schools, however authorities said that around 680,000 people were in the path of the storm.

(Reporting by Emma Rumney and Stephen Eisenhammer; Writing by Emma Rumney; Editing by Janet Lawrence and Alexandra Zavis)

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A worker holds a nozzle to pump petrol into a vehicle at a fuel station in Mumbai
FILE PHOTO: A worker holds a nozzle to pump petrol into a vehicle at a fuel station in Mumbai, India, May 21, 2018. REUTERS/Francis Mascarenhas

April 26, 2019

By Manoj Kumar and Nidhi Verma

NEW DELHI (Reuters) – Surging global oil prices will pose a first big challenge to India’s new government, whoever wins an election now under way, especially as domestic prices have been allowed to lag, meaning consumers are in for a painful surge as they catch up.

For oil-import dependent India, higher global prices could lead to a weaker rupee, higher inflation, the ruling out of interest rate cuts and could further weigh on twin current account and budget deficits, economists warned.

But compounding the future pain, state-run fuel suppliers and retailers have held off passing on to consumers the higher prices during a staggered general election, which began on April 11 and ends on May 23, according to sources familiar with the situation.

That delay is expected to be unwound once the election is over. And there could be additional price increases to make up for losses or profits missed during the period of delayed increases, the sources said.

In some major Asian countries, such as Japan and South Korea, pump prices are adjusted periodically so they move largely in tandem with international crude prices.

That was what was supposed to happen in India but the election means there have been many days when pump prices have been unchanged.

In New Delhi, for example, while crude oil prices have gone up by nearly $9 a barrel, or about 12 percent, in the past six weeks, gasoline prices have only risen by 0.47 rupees a liter, or 0.6 percent.

State-controlled fuel suppliers and retailers declined to say why they had delayed price increases, or discuss whether there has been any pressure from the government of Prime Minister Narendra Modi.

A government spokesman declined to comment.

The opposition Congress party said Modi’s government was violating its own policy of daily price revision by advising the state oil companies to hold prices steady.

“The government should cut fuel taxes otherwise consumers will have to pay much higher oil prices once the elections are over,” said Akhilesh Pratap Singh, a senior leader of the Congress party.

(GRAPHIC: India Polls: Fuel price hike lags crude surge – https://tmsnrt.rs/2XLlxik)

Nitin Goyal, treasurer at the All India Petroleum Dealers Association, representing fuel stations in 25 states, said prices were similarly held down for 19 days in the southern state of Karnataka last year, when it held state assembly elections.

Only for them to surge after the vote.

“Consumers should be ready for a rude shock of a massive jump in retail prices, similar to the level we have seen in the Karnataka state election,” Goyal said.

‘CREDIT NEGATIVE’

Sri Paravaikkarasu, director for Asia oil at Singapore-based consultancy FGE, said retail prices of gasoline and gasoil prices would have been up to 6 percent, or about 4 rupee, higher if they had been allowed to rise in line with global prices.

“Indian pump prices have failed to keep up with the recent uptrend in crude prices,” Paravaikkarasu said.

“With the country’s general elections underway, the incumbent government has been keeping pump prices relatively unchanged.”

India had switched to a daily price revision in June 2017 from a revision every two weeks, as the government allowed retailers to set prices.

But the government faced protests last October when retailers raised prices by up to 10 rupees a liter after the crude oil price went above $80 a barrel, forcing it to cut fuel taxes.

Global prices rose to their highest level in 2019 on Thursday, days after the United States announced all Iran sanction waivers would end by May, pressuring importers including India to stop buying Tehran’s oil. [O/R]

Higher oil prices will mean Asia’s third largest economy is likely to see growth of less than 7 percent rate this fiscal year, economists said. Growth slowed to 6.6 percent in the October-December quarter, the slowest in five quarters.

Rating agency CARE has warned that a 10 percent rise in global oil prices could increase demand for dollars, putting pressure on the rupee and widening the current account deficit.

India’s oil import bill rose by nearly one-third in the fiscal year ending March 31 to $140.5 billion, against $108 billion the previous year.

“The increase in international oil prices is a credit negative for the Indian economy,” ICRA, the Indian arm of the Fitch rating agency, said in a note.

“Every $10/ bbl increase in crude oil prices increases the fiscal deficit by about 0.1 percent of GDP.”

Any big price rise would also build a case for the central bank to keep rates steady, or even raise them.

The Reserve Bank of India’s Monetary Policy Committee, which cut the benchmark policy repo rate by 25 basis points this month, warned that rising oil and food prices could push up inflation.

Policymakers are worried that a sustained increase in the oil price in the range of $70-75/barrel or higher can move the rupee down by 3-4 percent on an annual basis.

The rupee has depreciated by 1.24 percent against the dollar since a year high in mid-March.

($1 = 70.1800 Indian rupees)

(Reporting by Manoj Kumar and Nidhi Verma; Editing by Martin Howell and Rob Birsel)

Source: OANN

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