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Turkey to boost capital at ailing banks in reform package: Albayrak

Turkish Treasury and Finance Minister Berat Albayrak attends a news conference in Istanbul
Turkish Treasury and Finance Minister Berat Albayrak attends a news conference in Istanbul, Turkey, April 10, 2019. REUTERS/Umit Bektas

April 10, 2019

ISTANBUL (Reuters) – Turkish Finance Minister Berat Albayrak said on Wednesday the government would boost banks’ capital and valuable exports, and adjust taxes as part of a reform plan meant to revive an economy plagued by high inflation and a fragile currency.

Turkey’s economy tipped into recession late last year and suffered its worst quarterly contraction in nearly a decade, after a punishing currency crisis sent inflation soaring as high as 25 percent and left its companies and banks saddled with foreign-currency debt.

Albayrak, unveiling the long-awaited reform package to both Turks saddled with rising unemployment and jittery international investors, said the new measures applied to 2019 only.

The government would deliver debt securities worth 28 billion lira ($4.92 billion) to capitalize state banks and would also raise capital levels at private banks, he said. Dividend and bonus payments would be limited during an economic rebalancing period, he added.

Non-performing loans are expected to double this year at Turkish banks.

At its nadir last year, the Turkish lira lost nearly half its value against the dollar and finished the year down nearly 30 percent. The crisis – which shook global financial markets – was set off by strained U.S.-Turkey ties, concerns over central bank independence, and a build-up of leverage.

Albayrak said government loans would prioritize strategic sectors, exports and value-added and local production. He added the government planned to integrate the country’s severance pay fund with its private retirement insurance fund.

($1 = 5.6897 liras)

(Reporting by Ece Toksabay and Ali Kucukgocmen; Writing by Daren Butler; Editing by Jonathan Spicer)

Source: OANN

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How college admissions cheating scheme was pitched to parents

William “Rick” Singer propped himself up as a college counselor who knew all the ways to get a child admitted to their desired college -- but his specialty was the “side door.”

Parents said Singer, who is the ringleader of one of the largest college admissions scams the U.S. history, approached them saying he could get their children into college, but not the conventional way. A well-known Silicon Valley investor told Axios on Thursday about once hiring Singer as a college counselor for his son and receiving the “side door” pitch.

FLORIDA MAN WHO ALLEGEDLY TOOK COLLEGE EXAMS FOR WEALTHY STUDENTS WAS HARVARD GRAD, ‘REALLY SMART GUY’

The investor, who was not identified, said he reached out to Singer after someone mentioned the 58-year-old as a college counselor. Singer, from Newport Beach, Calif., was the founder of for-profit college prep business Edge College & Career Network, also known as "The Key.” He also ran the charity, Key Worldwide Foundation, which authorities revealed Tuesday was a front for his bribery scheme.

“He came to our house four, maybe five times...Test prep. Getting all the applications in order. Things like that,” the investor told Axios. “But then it got weird. He sort of said: ‘I think I can get your kid into USC, but he's going to be a football player.’ Now my kid only played freshman football and wasn't sure he wanted to go to USC.”

William "Rick" Singer pleaded guilty to several charges in his college admissions cheating scheme.

William "Rick" Singer pleaded guilty to several charges in his college admissions cheating scheme. (AP)

“Singer tells me there would be a spot and he doesn't actually have to play football. He makes it all sound so reasonable, except that he also says he'll need a picture and asks if I have one from freshman football,” he recalled.

The investor said Singer told him: “Your kid can't really get in here, but I've got a way to get him in the side door.”

“I finally just said to give some other child the opportunity. No money was ever discussed with me, outside of the regular monthly fee to do the standard stuff. But the idea of doctoring up an application was not my sort of thing,” the parent said.

USC TO 'REVIEW' STUDENTS, GRADS WHO MAY BE LINKED TO COLLEGE ADMISSIONS CHEATING SCANDAL

In June 2018, Singer gave his elevator pitch to client Gordon Caplan, the chairman of a top law firm, and boasted about how he aided nearly 770 students into gaining acceptance to “certain schools” by using the “side door” method, documents stated.

William "Rick" Singer, front, founder of the Edge College & Career Network, exits federal court in Boston on Tuesday, March 12, 2019, after he pleaded guilty to charges in a nationwide college admissions bribery scandal. (AP Photo/Steven Senne)

William "Rick" Singer, front, founder of the Edge College & Career Network, exits federal court in Boston on Tuesday, March 12, 2019, after he pleaded guilty to charges in a nationwide college admissions bribery scandal. (AP Photo/Steven Senne)

“[These wealthy families] want in at certain schools. So, I did 761 [of] what I would call, ‘side doors,’” Singer said in a phone call with Caplan, according to court documents. “There is a front door which means you get in on your own. The back door is through institutional advancement, which is ten times as much money. And I’ve created this side door in.”

COLLEGE CHEATING MASTERMIND AUDITIONED FOR REALITY SHOW IN 2010, SAYS HE HELPED HUNDREDS WITH SCHEME

Parents who agreed to use the “side door” would make a “financial commitment” that ranged from thousands of dollars up to $6.5 million, authorities said.

In total, 50 people, including actresses Felicity Huffman and Lori Loughlin, were charged Tuesday for their alleged involvement in the cheating scandal. Singer appeared in court Tuesday and pleaded guilty to several charges of racketeering and money laundering.

Source: Fox News National

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Video caught woman dumping 7 puppies behind California store

Authorities are trying to identify a woman captured by security cameras tossing seven newborn puppies into a dumpster in Southern California.

The Riverside County Department of Animal Services released surveillance video of the woman pulling up to a dumpster behind an auto parts store in Coachella Thursday afternoon. The video shows her stepping out of a white Jeep, peering into a dumpster used for recyclables before dropping a plastic bag into the trash dumpster and driving away.

A man who rummaged through the trash shortly afterward spotted the bag and took it to the store. Authorities said the puppies, believed to be 3-day-old terrier mixes, may not have survived the 90-degree heat had they not been found within an hour of being dumped.

Source: Fox News National

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Howard Schultz apologizes after claiming he spent more time than 2020 candidates with military

Former Starbucks CEO Howard Schultz, who is contemplating mounting an independent bid for the presidency in 2020, apologized on Thursday for saying he probably had served more time in the military than any of the candidates who've entered the race, admitting he was simply "wrong."

The flap again put Schultz, a billionaire with no prior political experience, on the defensive. Democrats have spent weeks attacking Schultz and openly worrying that an independent run would split their base and hand the White House back to President Trump.

Two Democratic candidates are veterans: Rep. Tulsi Gabbard of Hawaii and South Bend, Indiana, Mayor Pete Buttigieg. Gabbard served in Iraq with the Hawaii Army National Guard from 2004 to 2005, and Buttigieg is a veteran of the Afghanistan War, having served a tour with the Navy Reserve as an intelligence officer.

Schultz made the comments during an interview Thursday with conservative radio host Hugh Hewitt.

SCHULTZ: DEMS WOULD BE PICKING A 'SPOILER' IF THEY NOMINATE A SOCIALIST

“Do you consider yourself competent to run the American military?” Hewitt asked.

“Yes, I do,” Schultz replied. “I probably have spent more time – in the last decade, certainly – than anyone running for president, with the military. I’ve been to Okinawa. I’ve been to Kuwait. I’ve – with Marines, with the Army. I’ve been to the national training center in Mojave Desert.”

Schultz also pointed out that he has "great friends" in the military, including retired Gen. Stanley McChrystal and William McRaven, the retired admiral who oversaw the bin Laden raid in Pakistan.

Soon after Schultz's comments aired, Buttigieg tweeted he didn't "recall seeing any Starbucks" in Afghanistan, where he deployed in 2013.

“I remember a Green Beans Coffee at the exchange at Bagram, and a decent espresso machine run by the Italian NATO element at ISAF HQ," Buttigieg wrote. "But I don’t recall seeing any Starbucks over there . . .”

Afterward, Schultz tweeted that leaders must accept responsibility for mistakes and his comment "was wrong."

"I apologize to @PeteButtigieg and @TulsiGabbard who served our country honorably,” Schultz wrote on Twitter. “In that moment I made something that should unite us all, about me. I made a mistake and I apologize.”

CLICK HERE TO GET THE FOX NEWS APP

A flood of mocking posts quickly appeared on social media. But earlier in the week, Schultz indicated that he was well aware his campaign would face harsh critics and unknown future headwinds -- and said the struggle was worth the cost anyway.

"I refuse to be deterred by the naysayers," Schultz said, "because I love this country and because so much is at stake."

The Associated Press contributed to this report.

Source: Fox News Politics

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Grassley Urges: No More Changes to Top Immigration Officials

Sen. Chuck Grassley, R-Iowa is urging the White House not to get rid of another top immigration official, particularly Lee Cissna, director of U.S. Citizenship and Immigration Services.

Grassley made his remarks in an interview with The Washington Post on Monday. They came after Kirstjen Nielsen resigned as Homeland Security secretary on Sunday and the White House announced that Randolph Alles. director of the Secret Service would soon be leaving his post.

And last week, the White House pulled the nomination of Ronald Vitiello, who had been nominated for the post of director of Immigration and Customs Enforcement. The Post said sources claim Cissna could be the next to go.

Grassley told the newspaper he was “very, very concerned.”

“One, those are good public servants,” Grassley said. “Secondly, besides the personal connection I have with them and the qualifications they have, they are the intellectual basis for what the president wants to accomplish in immigration.

 “The president has to have some stability and particularly with the number one issue that he’s made for his campaign, throughout his two and a half years of presidency. He’s pulling the rug out from the very people that are trying to help him accomplish his goal.”

Grassley made his concerns known to Mick Mulvaney, acting White House chief of staff. Mulvaney said he would look into the issue, Grassley told the Post.

Grassley also criticized White House senior adviser Stephen Miller, who has been pushing for changes at DHS.

Source: NewsMax Politics

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7-phased voting for India's national election in April, May

India's Election Commission has announced that the upcoming national election will be held in seven phases in April and May as Prime Minister Narendra Modi's Hindu nationalist party seeks a second term.

Chief election commissioner Sunil Arora said Sunday the election will be held April 11, 18 and 23, and May 6, 12 and 19.

About 900 million people are eligible to vote in a staggered process allowing the government to deploy tens of thousands of troops to prevent violence and the capture of voting stations by party activists.

The votes will be counted May 23.

Modi's Bhartiya Janata Party hopes the government's recent tough stand against Pakistan will help it retain popularity despite suffering a setback in December when it lost three key state elections to the Congress party.

Source: Fox News World

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Commodity prices, investment poised to extend upswing

The sun rises behind a corn tassel in a field in Minooka
FILE PHOTO: The sun rises behind a corn tassel in a field in Minooka, Illinois, September 24, 2014. REUTERS/Jim Young

March 29, 2019

By Eric Onstad

LONDON (Reuters) – A rebound in commodities prices and investment is poised to extend in coming months as the sector gets its traditional boost during the final stages of the global economic cycle along with other drivers.

While some investors worry about a possible recession, commodities are due to benefit from an expected U.S.-China trade deal, tightening oil supply and potential short-covering in beaten-down U.S. grain futures.

The 19-commodity Thomson Reuters/Core Commodity CRB Index, which has rebounded 10 percent from an 18-month low touched at the end of last year, should also get further support from easier monetary policy that has lifted all financial markets, analysts and traders said.

Graphic: Commodity Prices Clawing Higher From December Lows – https://tmsnrt.rs/2HN3TXg

Commodities along with other financial markets have been buoyed after the U.S. Federal Reserve this month confirmed its three-year drive to tighten monetary policy was at an end.

The dovish change from the Fed and growing stimulus in top commodities consumer China would extend the current positive economic cycle and support commodity prices, JPMorgan said in a note.

“Late cycles are typically marked by outperformance of commodities,” JPMorgan analyst Dominic O’Kane said.

The rise in commodities so far has been partly fueled by hopes for an agreement to end a trade war between Washington and Beijing, helping to spur $2.1 billion of flows so far this year into commodity index funds and exchange-traded funds, data compiled by Citi showed.

Commodity assets under management have climbed to $407 billion, breaching $400 billion for the first time since October, Citi said, based on data through March 5.

Although the energy complex has recovered strongly this year, positioning in crude oil is not overstretched, analysts said.

According to the latest exchange data, hedge funds have bought another 65 million barrels of petroleum futures and options, the biggest one-week increase since the end of August 2018 and a bullish signal.

That was because investors expect prices to be bolstered by supply-side disruptions while OPEC and its allies comply with their plans to cut 1.2 million barrels per day of supply this year.

The funds’ net long position in Brent crude has more than doubled from a low hit in early December, but is still less than half of the record high touched in April last year.

“There’s plenty of room on the upside,” said Ole Hansen, head of commodity strategy at Saxo Bank in Copenhagen.

Graphic: Hedge Funds’ Crude Oil Positions Rebound – https://tmsnrt.rs/2UVGINJ

As part of a proposed trade deal, Beijing has offered to make big-ticket purchases from the United States to help reduce a record trade gap. U.S. President Donald Trump’s team has said those purchases would be worth more than a trillion dollars over about six years.

Agricultural exports to China could grow to $30 billion or more a year, Citi analyst Aakash Doshi said in a note. This compares to nearly $20 billion in 2017.

“The CBOT (Chicago Board of Trade) complex … appears poised for a rebound in 2Q/3Q on the back of a U.S.-Sino trade deal that could meaningfully boost Chinese purchases of soybeans, corn, ethanol, cotton, pork and other agricultural products,” he said.

Flooding in the U.S. Midwest makes agricultural futures vulnerable to short-covering after bearish bets hit record levels in recent weeks and this could accelerate if Chinese purchases surge, analysts said.

Graphic: U.S. Agricultural Exports to China – https://tmsnrt.rs/2UXc32t

Industrial metals are moving into their strongest seasonal period when construction activity rises in top consumer China.

“Both the fundamentals and technicals are supportive, so if we can get some concrete news that a trade deal has been successful, these things could really fly,” said Robin Bhar, head of metals research at Societe Generale.

As seasonal demand is due to climb, most metals should have market deficits this year and in 2020, according to analyst consensus forecasts compiled by Reuters polls.

Graphic: Most Industrial Metals in Deficit – https://tmsnrt.rs/2HMdwpp

(Reporting by Eric Onstad; Editing by Dale Hudson)

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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