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Hyundai shareholders to vote on Elliott’s bid to change ‘status quo’

Employees of Hyundai Motor Group attend the company's new year ceremony in Seoul
Employees of Hyundai Motor Group attend the company's new year ceremony in Seoul, South Korea, January 2, 2019. REUTERS/Kim Hong-Ji

March 21, 2019

SEOUL (Reuters) – Investors in Hyundai Motor Group companies are due to meet on Friday to vote on U.S. hedge fund Elliott Management’s demands for a massive special dividend and board makeover, in the latest case of shareholder activism in the Asian country.

South Korea has been trying to make its family-run corporate giants – long dominated by powerful elites affording minority investors little say – more accountable under pressure from foreign investors and following a bribery scandal last year.

Elliott, founded by billionaire Paul Singer, successfully led a campaign against Hyundai’s ownership restructuring plan last year, which it called “deeply unfair and value-destructive”.

While its latest demands look likely to fail on most counts, even if it manages to gain a single seat at Hyundai it would be a major victory for shareholder empowerment in the country.

Elliott is trying to rally shareholder support for dividend payouts from Hyundai Motor and Hyundai Mobis for 2018 worth a combined 7 trillion won ($6.2 billion), saying the group should dispose of its excess capital.

Elliott has also demanded a total of five board nominees at Hyundai Motor and Hyundai Mobis to address “governance shortcomings”.

“We urge all shareholders to send an unambiguous message to the group in support of good governance and accountability, and to state unequivocally: The status quo is not acceptable – change must come to HMG,” Elliott said in a letter to shareholders on Thursday.

Hyundai Motor and Hyundai Mobis have proposed dividend payouts of about $1 billion for last year, as well as their own director nominees.

(Reporting by Hyunjoo Jin; Writing by Stephen Coates; Editing by Christopher Cushing)

Source: OANN

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Putin Hopes For Fresh Start With Trump After “Notorious” Mueller Commission Found Nothing

Russian president Vladimir Putin said he’s ready to turn the leaf on the first two years of diplomatic scandals between the US and Russia, and is seeking areas of cooperation with his US counterprart (and according to various now debunked lunatics, spy) Donald Trump, calling the furor over election-meddling allegations part of the deep political crisis in Washington.

In his first public comments on the outcome of Robert Mueller’s investigation which found no collusion or conspiracy between Trump and Russia, Putin welcomed the controversial findings.

“We said from the very start that this notorious commission of Mr. Mueller wouldn’t find anything because we know this better than anyone,” Putin told the International Arctic Forum in St. Petersburg on Tuesday, adding that it was “utter nonsense aimed solely at a domestic audience and used for internal political struggle in the U.S.”

In retrospect, he was right.

Vladimir Putin delivers a speech at the International Arctic Forum in St. Petersburg on April 9, Photo: TASS

As a reminder, Trump scored the biggest political victory of his presidency – even as the credibility of the US liberal medial plumbed new lows – last month after AG William Barr published a summary of Mueller’s finding that there was no collusion during the campaign. Trump, who repeatedly – and correctly – condemned the 22-month inquiry as a “witch hunt” said he’d been completely exonerated.

Agreeing with his US colleague, Putin said that witch hunts are “a black page” in U.S. history and “I would not like it ever to happen again” (here the conspiracy nuts should be ready to chime in with a witty rejoinder). The outcome of the Mueller investigation showed that “a mountain gave birth to a mouse,” the Russian president said.


Italy’s Matteo Salvini recently said his nationalist party, The League, is here to stay. Dan Lyman with Infowars Europe joins Owen to discuss the future of Europe and solutions for the immigration crisis.

While Putin said when the two leaders met in Helsinki last year that he’d wanted Trump to win the 2016 election because of his pledge to improve relations – and because Hillary Clinton’s State Department did everything in its power to set the stage for a war between Russia and Ukraine – he avoided generating more controversy, and said he supports Trump’s re-election in 2020.

“We respect the wishes of the American people,” he said. “Whoever is president, we’re ready to work with them.”

To be sure, much bad blood remains between the US “deep state” and Moscow: recall that US intelligence agencies “concluded” that Russia was behind hacking aimed at damaging Democratic Party contender Hillary Clinton (which unveiled that the DNC had rigged the primaries against Bernie Sanders, and that Hillary Clinton was a professional in saying one thing to the public and something else to Wall Street). Russia, naturally, rejects the allegations. Trump pledged during his campaign to improve ties with Russia and has repeatedly said he wants good relations with Putin.

As for how the former KGB spy and Trump are getting along currently, Putin said he has “plenty of disagreements” with Trump, whose administration has imposed a series of new sanctions on his country, but is ready to work with the U.S. on issues of joint interest including terrorism and arms control.

“We hope that when this situation normalizes, opportunities will emerge for bilateral cooperation on all issues,” Putin said.

* * *

Separately, Putin also said that Russia will dramatically increase its presence in the Arctic region by building new ports and other facilities and expanding its fleet of icebreaker vessels, as the competition for the area’s natural resources intensifies.

Putin told the leaders of Finland, Iceland, Norway, and Sweden at the Forum that Russia’s efforts will help quadruple the level of cargo shipments across the Arctic sea route.

“This is a realistic, well-calculated, and concrete task. We need to make the Northern sea route safe and commercially feasible,” he said.

And here is another irony: climate change is directly benefiting Russia – the shrinking polar ice in the Arctic region is expected to offer new opportunities for resource exploration and the development of new shipping lanes, leading Russia, the United States, Canada, Denmark, and Norway into a competition for jurisdiction in the region.

Putin set a goal for the amount of cargo carried across the shipping lane to rise to 80 million metric tons by 2025 from the 20 million tons transported in 2018, the majority under Russian-flagged vessels. Russia, the only country with a fleet of nuclear icebreakers, is moving to expand its current inventory of four nuclear-powered vessels to a total of nine by 2035, he said. It also has four nonnuclear icebreakers in its fleet, according to RFE.

In 2017, Jim Mattis, the former U.S. defense secretary noted the Russian buildup and said that “America has got to up its game in the Arctic.”

“The Arctic is key strategic terrain. Russia is taking aggressive steps to increase its presence there. I will prioritize the development of an integrated strategy for the Arctic,” said Mattis, who left his position at the end of 2018.

At the Arctic forum, Russian Foreign Minister Sergei Lavrov defended the military buildup, saying, “We don’t threaten anyone.”

“We ensure sufficient defense capabilities given the political and military situation around our borders,” He added.

Source: InfoWars

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MLB notebook: Red Sox’s Eovaldi to undergo elbow surgery

FILE PHOTO: MLB: Boston Red Sox at New York Yankees
FILE PHOTO: Apr 17, 2019; Bronx, NY, USA; Boston Red Sox pitcher Nathan Eovaldi (17) reacts against the New York Yankees during the fourth inning at Yankee Stadium. Mandatory Credit: Adam Hunger-USA TODAY Sports

April 23, 2019

Boston Red Sox right-hander Nathan Eovaldi will undergo elbow surgery on Tuesday, multiple media outlets reported Monday.

Eovaldi’s surgery is to remove loose bodies in his right elbow. He is expected to miss four to six weeks.

The 29-year-old was placed on the 10-day injury list on Saturday. He has a 6.00 ERA in four starts this season.

Eovaldi pitched Wednesday against the New York Yankees and gave up one unearned run and three hits over six innings. He didn’t experience any problems during the start but he was unable to straighten his right arm the following day.

–The MRI exam of New York Mets right-hander Jacob deGrom’s right elbow revealed no damage, and the reigning National League Cy Young Award winner could make his scheduled Friday start.

“No problems whatsoever,” New York general manager Brodie Van Wagenen told reporters. “We got the answers we were hoping for.”

After the exam came back without a problem, deGrom threw a 30-pitch bullpen session prior to the Mets’ Monday game against the Philadelphia Phillies.

–The Pittsburgh Pirates activated outfielder Gregory Polanco from the injured list prior to their game against the visiting Arizona Diamondbacks.

Polanco has been working his way back from major surgery on his left shoulder. He injured the shoulder and a knee while sliding into second base during a game against the Miami Marlins on Sept. 7.

–The Colorado Rockies placed staff ace Kyle Freeland on the 10-day injured list due to a blister on his left middle finger.

The left-hander pitched six scoreless against the Philadelphia Phillies on Thursday before he departed after 86 pitches due to the blister.

Freeland, 25, is 2-3 with a 4.23 ERA in five starts this season. Last season, he went 17-7 with a 2.85 ERA in 33 starts while finishing fourth in the National League Cy Young Award balloting.

–The New York Yankees released left-hander Gio Gonzalez from his minor league contract, officially making the 33-year-old a free agent.

Gonzalez opted out of the deal on Saturday, leaving the Yankees facing a 48-hour deadline in which to either place on him on the 25-man roster or grant him his release. He would have received a $3 million base salary plus $300,000 for each start if he was added to the roster.

Gonzalez went 2-1 with a 6.00 ERA in three starts at Triple-A Scranton/Wilkes-Barre.

–A Florida judge ruled that Detroit Tigers designated hitter Miguel Cabrera must support the two children he fathered out of wedlock the same way he does the children born to his wife, the Detroit Free Press reported.

The decision is the latest turn in an 18-month battle between Cabrera and Belkis Rodriguez of Orlando, Fla. In her 2017 child support lawsuit, she contended her children deserve to have the same lifestyle his other three children have.

Orange County Circuit Court Judge Alan Apte agreed with Rodriguez, writing in his ruling, “The court finds that the parties’ children should have the same opportunities as the opportunities that the father provides to his three other children that he and his wife share.”

–The St. Louis Cardinals placed starting pitcher Michael Wacha on the 10-day injured list with patellar tendinitis in his left knee, retroactive to April 19.

Wacha is 1-0 with a 4.64 ERA through four starts this season, including a 6-3 win against the Milwaukee Brewers in his most recent start last Wednesday.

The 27-year-old right-hander leads the Cardinals with 24 strikeouts in 21 1/3 innings.

–Field Level Media

Source: OANN

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Body cam footage shows officers attempting to save Justine Damond after she was shot by officer

The body camera footage showing the death of Justine Damond, the woman who was fatally shot by a Minneapolis police officer, also showed officers' vain attempts to save her life.

The chaotic footage was played in court Thursday and showed the unsuccessful efforts to save the 40-year-old woman, who was shot minutes after calling 911 to report a possible rape near her home. Damond was a dual citizen of the U.S. and Australia who had taken her fiance’s last name ahead of their wedding, which was scheduled to happen a month after her July 2017 death.

Former Minneapolis officer Mohamed Noor stands trial on murder and manslaughter charges. He was fired from the Minneapolis Police Department after being charged in her death.

Former Minneapolis police officer Mohamed Noor, center, is accompanied by his attorneys Peter Wold, not pictured, and Thomas Plunkett, right, as he walks towards the Hennepin County Government Center for opening arguments of his trial Tuesday, April 9, 2019.

Former Minneapolis police officer Mohamed Noor, center, is accompanied by his attorneys Peter Wold, not pictured, and Thomas Plunkett, right, as he walks towards the Hennepin County Government Center for opening arguments of his trial Tuesday, April 9, 2019. (AP)

When the body camera footage was played, Damond’s fiancé Don declined to watch. Others members of her family also left the courtroom, FOX9 reported.

The Australian Associated Press reported Minneapolis Judge Kathryn Quaintance barred the media and public from seeing the body camera footage at first but the restriction was lifted after media organizations argued the decision.

WOMAN KILLED BY MINNEAPOLIS OFFICER ‘YEARNED TO HELP PEOPLE’

“The footage on these [body-worn cameras] shows the last moments of human life and the struggles of police and medical personnel to save that life,” Quaintance wrote in a memo, according to the Australian Associated Press. “These moments are well outside the personal experience of most people. Most lay people are not well equipped to take in such visceral and shocking material."

The Minneapolis Star Tribune reported that one officer’s body camera showed Noor and his partner taking turns performing CPR on Damond before firefighters arrived. Another body camera video showed Noor being taken to a supervisor squad. Officer Mark Ringgenberg testified Noor kept asking if Damond was OK.

In this Aug. 11, 2017, file photo, Johanna Morrow plays the didgeridoo during a memorial service for Justine Ruszczyk Damond at Lake Harriet in Minneapolis.

In this Aug. 11, 2017, file photo, Johanna Morrow plays the didgeridoo during a memorial service for Justine Ruszczyk Damond at Lake Harriet in Minneapolis. (AP)

“I just told [Noor] not to say anything,” Ringgenberg said. “I don’t remember specifics.”

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Defense attorneys have said Noor was reacting to a loud noise and feared an ambush. Prosecutors have argued there was no evidence Noor faced a threat that justified the use of deadly force.

The head of the city's police homicide unit, Lt. Richard Zimmerman, testified Thursday that lighting in the alley was bright enough that he could see the officers clearly when he arrived. Defense attorneys have contended that lighting conditions were poor the night Damond was shot.

The Associated Press contributed to this report.

Source: Fox News National

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U.S. to wrap case against drug company executives tied to opioid crisis

FILE PHOTO: John Kapoor, the billionaire founder of Insys Therapeutics Inc., leaves the federal courthouse in Boston
FILE PHOTO: John Kapoor (R), the billionaire founder of Insys Therapeutics Inc., leaves the federal courthouse during the trial accusing Insys executives of a wide-ranging scheme to bribe doctors to prescribe an addictive opioid medication, in Boston, Massachusetts, U.S., March 13, 2019. Picture taken March 13, 2019. REUTERS/Brian Snyder

April 4, 2019

By Nate Raymond

BOSTON (Reuters) – Prosecutors on Thursday will present their closing arguments in the trial of the wealthy founder of pharmaceutical company Insys Therapeutics Inc and four colleagues accused of contributing to the U.S. opioid epidemic by bribing doctors to prescribe an addictive fentanyl spray.

John Kapoor, who served as the Arizona-based drugmaker’s chairman, and his co-defendants are the first executives of a painkiller manufacturer to face trial for conduct that authorities say was tied to the deadly opioid crisis.

Prosecutors say Kapoor oversaw a wide-ranging scheme to bribe doctors nationwide by retaining them to act as speakers at poorly-attended sham events at restaurants ostensibly meant to educate clinicians about its fentanyl spray, Subsys.

The U.S. Food and Drug Administration has only approved Subsys for use in treating severe pain in cancer patients. Yet prosecutors says doctors who took bribes often prescribed Subsys to patients without cancer, helping boost sales at Insys.

Prosecutors said Kapoor also sought to defraud insurers into paying for Subsys. He is alleged to have had help from 2012 to 2015 from his co-defendants, former Insys executives and managers Michael Gurry, Richard Simon, Sunrise Lee and Joseph Rowan.

All five have pleaded not guilty to racketeering conspiracy. Lawyers for Kapoor acknowledge that Insys paid doctors but contend that he believed they really were being paid to talk up the product’s benefits.

Beth Wilkinson, Kapoor’s lead attorney, told jurors at the trial’s start in January that he had no idea about any “side deals” that were being cut with doctors.

Kapoor’s 2017 arrest came the same day U.S. President Donald Trump declared the opioid crisis a public health emergency. In 2017, a record 47,600 people died of opioid-related overdoses, according to the U.S. Centers for Disease Control and Prevention.

Two top former executives – Michael Babich, Insys’ chief executive from 2011 to 2015, and Alec Burlakoff, its ex-vice president of sales – testified against Kapoor after pleading guilty to carrying out the scheme at his direction.

Babich, who joined Insys in 2007 after helping manage investments for Kapoor at the pharmaceutical industry veteran’s family office, told jurors Kapoor wanted a “return on investment” from paying doctors to act as speakers.

Much of the trial’s testimony focused on how Insys marketed Subsys to doctors. One witness testified that Lee, a former stripper who became a regional sales director, gave a doctor a lap dance at a Chicago club one time while promoting Subsys.

(Reporting by Nate Raymond in Boston; Editing by Tom Brown)

Source: OANN

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Felicity Huffman, Lori Laughlin among 50 snared in elite college cheating scam, authorities say

Actresses Felicity Huffman and Lori Loughlin were among more than 40 people charged in a nationwide college admissions cheating scandal that involved paying up to $6 million to place their children into elite universities, according to court records revealed Tuesday.

The alleged scam -- which involved placing students in top colleges such as Yale, Georgetown, Stanford, University of Southern California, UCLA and the University of Texas -- was run by a man in California who helped parents get their children into the schools through bribes, court documents unsealed in Boston showed.

Most of the students did not know their admission to the school were due to a bribe, authorities said.

The children’s parents would pay a specified amount of money fully aware it would be used to gain a college admission. The money would then go toward an SAT or ACT administrator or a college athletic coach who would fake a profile for the prospective student — regardless of their athletic ability, according to the charging documents.

Source: Fox News National

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Turkey Refuses Pence’s Warning Not to Buy Russian Military Tech

In the latest in the continuing fallout between the US and Turkey over Ankara’s plans to install Russia’s S-400 missile defense systems — for which the United States this week finally halted delivery of not only the jets but also equipment related to the stealth F-35 fighter aircraft, and canceled all future shipments of F-35 related material — Turkey has issued its own counter-ultimatum: you are either with us or with the terrorists.

In response to yesterday’s threat by Vice President Mike Pence putting Turkey on notice to either scrap the S-400 deal with Russia or say goodbye to the Lockheed F-35, Turkish Vice President Fuat Oktay tweeted, “The United States must choose. Does it want to remain Turkey’s ally or risk our friendship by joining forces with terrorists to undermine its NATO ally’s defense against its enemies?”

Ironically it’s precisely the “undermining of NATO defense” that has Washington concerned related to the S-400, given the potential for compromising the F-35 advanced radar-evading and electronics capabilities as Russia could get access to the extremely advanced Joint Strike Fighter stealth aircraft, enabling Moscow to detect and exploit its vulnerabilities.

Pence said during a speech Wednesday at the “NATO Engages” summit in Washington, DC: “We’ve also made it clear that we’ll not stand idly by while NATO allies purchase weapons from our adversaries, weapons that threaten the very cohesion of this alliance.”

“Turkey’s purchase of a $2.5 billion S-400 anti-aircraft missile system from Russia poses great danger to NATO and to the strength of this alliance,” he added, warning further that Turkey could face serious consequences.


Alex Jones breaks down how the crisis in Venezuela could trigger a world war.

While Turkey’s VP didn’t specify which “terrorists” the US would be taking sides with as part of his response, there’s little doubt this was a reference to Syrian Kurdish militias which has also been the source of tensions given ongoing US support to the Kurdish-led Syrian Democratic Forces (SDF) just across Turkey’s border with Syria. Over the past year Washington has repeatedly warned against Turkish forces foraying deeper into Syria to fight Syrian Kurdish militants.

Turkey has also in the past lashed out at Washington over the fact that self-exiled Turkish cleric Fethullah Gulen has been allowed safe haven in the US. Turkey has long claimed he was a prime force behind the 2016 coup attempt targeting the Erdogan government.

On Wednesday Turkey sought to calm US fears of compromising NATO’s systems, as Foreign Minister Mevlut Cavusoglu stated, “[S-400s] will not be integrated into the NATO system,” and further suggested establishing a multi-party technical group that would ensure the air defense system “will not be a threat” to any advanced western systems, the F-35 included.

Both the US and Turkish Vice Presidents publicly sparring this week will likely only harden Erdogan in his position. Turkey again reminded the world last Friday that, “We have signed a deal with Russia, and this deal is valid. Now we are discussing the delivery process,” according to words from the foreign ministry on Friday after he came out of a meeting with his Russian counterpart FM Lavrov.

He added that “We have an agreement with Russia and we are bound by it.” The first Russian S-400 delivery is expected in July.

Both last week President Erdogan and Turkish officials have remained unwavering in declaring “it’s a done deal” in the face of US threats.

A month ago Erdogan even colorfully told a Turkish broadcaster during an interview that, “There can never be a turning back. This would not be ethical, it would be immoral. Nobody should ask us to lick up what we spat.”


Alex Jones issues an emergency to President Trump to stop America’s collapse.

Source: InfoWars

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Avengers fans gather at the TCL Chinese Theatre in Hollywood to attend the opening screening of
Avengers fans gather at the TCL Chinese Theatre in Hollywood to attend the opening screening of “Avengers: Endgame” in Los Angeles, California, U.S., April 25, 2019. REUTERS/Mike Blake

April 26, 2019

LOS ANGELES (Reuters) – Marvel Studios superhero spectacle “Avengers: Endgame” hauled in a record $60 million at U.S. and Canadian box offices during its Thursday night debut, distributor Walt Disney Co said.

Global ticket sales for the film about Iron Man, Hulk and other popular characters reached $305 million for the first two days, Disney said.

(Reporting by Lisa Richwine; Editing by Chizu Nomiyama)

Source: OANN

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Funeral of journalist Lyra McKee in Belfast
Labour Party leader Jeremy Corbyn attends the funeral service for murdered journalist Lyra McKee at St Anne’s Cathedral in Belfast, Northern Ireland April 24, 2019. Brian Lawless/Pool via REUTERS

April 26, 2019

LONDON (Reuters) – The leader of Britain’s opposition Labour Party, Jeremy Corbyn, said on Friday he had turned down an invitation to a state dinner which will be part of U.S. President Donald Trump’s visit to Britain in June.

“Theresa May should not be rolling out the red carpet for a state visit to honor a president who rips up vital international treaties, backs climate change denial and uses racist and misogynist rhetoric,” Corbyn said in a statement.

He said maintaining the relationship with the United States did not require “the pomp and ceremony of a state visit” and he said he would welcome a meeting with Trump “to discuss all matters of interest.”

(Reporting by Andy Bruce; Writing by William Schomberg)

Source: OANN

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Libyan Minister of Economy Ali Abdulaziz Issawi speaks during an interview with Reuters in Tripoli
Libyan Minister of Economy Ali Abdulaziz Issawi speaks during an interview with Reuters in Tripoli, Libya April 25, 2019. REUTERS/Hani Amara

April 26, 2019

By Ulf Laessing

TRIPOLI (Reuters) – Libya’s U.N.-recognized government has budgeted up to 2 billion dinars ($1.43 billion) to cover costs of a three-week-old war for control of the capital, such as treatment for the wounded, to be funded without new borrowing, the economy minister said.

Ali Abdulaziz Issawi suggested the government hoped for business to continue more or less as usual despite the assault on Tripoli, in the country’s northwest, by forces tied to a parallel administration based in the eastern city of Benghazi.

Once Africa’s third largest producer of oil, Libya has been riven by factional conflict since the fall of Muammar Gaddafi in 2011, with the country now broadly split between eastern-based forces under Khalifa Haftar and the U.N.-backed government in Tripoli, in the west, under Prime Minister Fayez al-Serraj.

Still, with Haftar’s Libyan National Army forces unable so far to pierce defenses in Tripoli’s southern suburbs, normal life and business activities continue in much of the capital and western coastal towns.

Issawi, in an interview with Reuters in his Tripoli office, also said Libya’s commercial ports and wheat imports were still functioning normally, although some roads have been blocked.

He said the Serraj government estimates it will spend up to 2 billion dinars extra on medical treatment for wounded, aid for displaced people and other “emergency” war costs.

He said this was not military spending but analysts believe that the sum will also cover expenditures such as pay for allied armed groups or food for fighters.

“We could actually spend less,” he added, in comments that gave the first insight into the economic impact of the fighting.

Issawi said the Tripoli government, which controls little territory beyond the greater capital region, would not incur new debt to fund the war costs, sticking to a plan to post a 2019 budget without a deficit.

Tripoli derives revenue largely from oil and natural gas production, interest-free loans from local banks to the central bank, and a 183 percent surcharge on foreign exchange transactions conducted at official rates.

But with centralized tax collection greatly diminished, public debt has piled up – to 68 billion dinars in the west, including unpaid state obligations such as social insurance.

Some analysts expect Serraj’s government will be forced to raise new debt if the war for control of Tripoli drags on.

With much of Libya dominated by armed factions that also act as security forces, the public wage bill for both the western and eastern administrations has soared as fighters have been made public employees in efforts to buy their loyalty.

The east has sold bonds worth 35 billion dinars outside the official financial system as the Tripoli central bank does not fund the parallel government apart from some wages.

Despite its limited reach, the Tripoli government still runs an annual budget of around 46.8 billion dinars, mainly for public salaries and fuel subsidies.

“This year we cannot finance via debt…we will not borrow (by agreement with the central bank),” Issawi said.

According to International Monetary Fund data, Libya’s central government debt-to-GDP ratio is 143 percent, making it one of the most heavily indebted in the world on that measure.

Issawi declined to say what parts of the budget would be trimmed to support the extra outlay for war costs.

However, with some 70 percent of the budget allocated to public wages, fuel subsidies and other welfare benefits, a portion devoted to infrastructure is most likely to be axed.

Widespread lawlessness has meant there have been no major infrastructural projects since 2011, when a NATO-backed uprising overthrew dictator Muammar Gaddafi, leaving schools, hospitals and roads in acute need of restoration.

FOREX SURCHARGE

Issawi said the government planned to raise as much as 30 billion dinars by the end of 2019 from hard currency deals after imposing in September a 183 percent surcharge on commercial and private transactions done on the official rate of 1.4 to the U.S. dollar. That fee has effectively devalued the official rate to 3.9, much closer to the black market equivalent.

Some 17 billion dinars have been raised since then, with hard currency allocated for import credit letters now issued without delays, Issawi said. The forex fee has helped the government forecast a budget in the black for 2019.

Despite the narrowing spread between the two rates, the black market continues to thrive. Dozens of traders remained at their favorite spot behind the central bank headquarters in Tripoli when Reuters reporters visited it last week.

But traders said it could take time for the Serraj government to register the extra forex receipts as official banking channels were taking up to six months to approve import financing, keeping the black market in play for dealers.

Issawi said authorities planned to lower the forex fee from 183 percent, without saying when. The black market rate has dropped from 6 to around 4.1 since September but it has hardly moved of late as demand for black market cash remains high.

The Tripoli government has stopped subsidizing food and bread, which used to be cheaper than drinking water in Libya. Wheat imports are now being arranged by private traders and there are surplus stocks of flour at the moment, Issawi said.

(Reporting by Ulf Laessing in Tripoli with additional reporting by Karin Strohecker in London; Editing by Mark Heinrich)

Source: OANN

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Rep. Gerry Connolly, D-Va., threatened possible jail time for White House officials refusing to comply with subpoenas to testify before the House Oversight Committee.

Connolly, a member of the House panel, made his comments during an interview on CNN on Thursday. He said that “if a subpoena is issued and you’re told you must testify, we will back that up.”

He added: “And we will use any and all power in our command to make sure it’s backed up — whether that’s a contempt citation, whether that’s going to court and getting that citation enforced, whether it’s fines, whether it’s possible incarceration.”

“We will go to the max to enforce the constitutional role of the legislative branch of government.”

His comments came after three officials have refused to comply with congressional requests to testify, CNN noted.

Trump told The Washington Post that his staff should not testify on Capitol Hill, explaining that the White House cooperated fully with special counsel Robert Mueller and “there is no reason to go any further, especially in Congress where it’s very partisan.”

Source: NewsMax Politics

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“Outdated laws” need fixing to deal with the surge in illegal immigrant families crossing the U.S. border with Mexico, a top Border Patrol official said Friday.

Migrant families face no consequences if apprehended trying to cross the border illegally under present law, Border Patrol chief of Operations Brian Hastings claimed during an appearance on “Fox & Friends.”

“We need a change in the current outdated laws that we’re dealing with for this current demographic and this crisis that we have,” he said.

Hastings said as of Thursday there have been 440,000 apprehensions along the southwest border. There were 396,000 apprehensions all of last year.

SOUTHERN BORDER AT ‘BREAKING POINT’ AFTER MORE THAN 76,000 ILLEGAL IMMIGRANTS TRIED CROSSING IN FEBRUARY, OFFICIALS SAY

And those numbers continue to rise, he said.

Historically 70 to 90 percent of apprehensions at the border were quickly returned to Mexico, Hastings said.

Now, 83 percent of those apprehended have come from the Central American northern triangle which includes Guatemala, El Salvador, and Honduras, and of those 63 percent are “family units” and children who cannot be returned, he said.

“There are no consequences that we can apply to this group currently,” Hastings said. “We’re overwhelmed. If you look at agents there doing a tremendous job trying to deal with the flow.”

The law dictates children have to be released after 20 days of detention.

FLORIDA SHERIFF ON BORDER CRISIS AFTER MAJOR DRUG BUST: ‘IT MAKES ME ABSOLUTELY CRAZY’

Sen. Lindsey Graham, R-S.C., says that has forced immigration officials to release entire families because “you don’t want to separate families.”

Recently, he said he is drafting legislation that would allow children to be detained for more than 20 days.

Hastings said agents are frustrated with the situation but are doing the best they can with the resources they have.

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“Up to 40 percent of our agents are processing at any given time,” he said. “That should say that in and of itself is pulling from those border security resources.”

Source: Fox News National

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