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ADM considers ethanol spinoff as first-quarter profit falls on severe weather

FILE PHOTO: The Archer Daniels Midland Co (ADM) logo is displayed on a screen on the floor of the NYSE in New York
FILE PHOTO: The Archer Daniels Midland Co (ADM) logo is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., May 3, 2018. REUTERS/Brendan McDermid/File Photo

April 26, 2019

By P.J. Huffstutter and Shradha Singh

CHICAGO/BENGALURU (Reuters) – Archer Daniels Midland Co said on Friday it was considering spinning off its ethanol business after slim biofuel margins and Midwestern floods slammed the U.S. grains merchant’s profit, which tumbled 41 percent in the first quarter.

ADM said it was creating an ethanol subsidiary, which will include dry mills in Columbus, Nebraska; Cedar Rapids, Iowa; and Peoria, Illinois.

The ethanol subsidiary will report as an independent segment, the company said, allowing options “which may include, but are not limited to, a potential spin-off of the business to existing ADM shareholders.”

Results were hit by the “bomb cyclone” blizzards that devastated the Midwest and Great Plains this year, causing massive flooding across Nebraska, Iowa and Missouri, washing out rail lines and wreaking havoc in the moving and processing of corn, soybeans and wheat. One-sixth of U.S. ethanol production was halted.

In March, ADM warned Wall Street that flooding and severe winter weather in the U.S. Midwest would reduce its first-quarter operating profit by $50 million to $60 million.

“The first quarter proved more challenging than initially expected,” said Chairman and Chief Executive Officer Juan Luciano, with earnings down in its starches, sweeteners and bioproducts unit. Luciano said impacts of the severe weather ultimately “were on the high side of our initial estimates”.

Ongoing problems in the ethanol industry added to the problems and “limited margins and opportunities” for ADM, Luciano said.

The ethanol industry has been in the midst of a historic downswing due to the U.S.-China trade war, excess domestic supply and weak margins.

ADM, which had been an ethanol pioneer, signaled to Wall Street in 2016 that it was hunting for options and considering sales of its U.S. dry ethanol mills. Luciano told Reuters this year that offers ADM had received for the mills were too low.

In addition, ADM said it planned to repurpose its corn wet mill in Marshall, Minnesota, to produce higher volumes of food and industrial-grade starches.

Other major traders are alsy trying to distance themselves from struggling ethanol businesses. Louis Dreyfus Company BV spun off its Brazilian sugar and ethanol business Biosev in 2013. Rival Bunge sold its sugar book and has sought a buyer for its Brazilian mills since 2013.

ADM, which makes money trading, processing and transporting crops, such as corn, soybeans and wheat, has been looking to strengthen its core business. Last month it said it would seek voluntary early retirements of some North American employees and cut jobs as part of a restructuring effort.

The company expects to lower 2019 capital spending by 10 percent to between $800 million and $900 million.

Net earnings attributable to the company fell to $233 million, or 41 cents per share, in the three months ended March 31, from $393 million, or 70 cents per share, a year earlier.

Revenue fell to $15.30 billion from $15.53 billion. On an adjusted basis, the company earned 46 cents per share, while analysts on average had estimated 60 cents, according to IBES data from Refinitiv.

(Reporting by Shradha Singh in Bengaluru; Editing by Shounak Dasgupta, Chizu Nomiyama and David Gregorio)

Source: OANN

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LB Emanuel retires from NFL

FILE PHOTO: NFL: Los Angeles Chargers at Denver Broncos
FILE PHOTO: Dec 30, 2018; Denver, CO, USA; Los Angeles Chargers outside linebacker Kyle Emanuel (51) warms up before the game against the Denver Broncos at Broncos Stadium at Mile High. Mandatory Credit: Isaiah J. Downing-USA TODAY Sports

April 4, 2019

Free agent linebacker Kyle Emanuel announced his retirement from the NFL on Thursday.

Selected by the San Diego Chargers in the fifth round of the 2015 NFL draft, Emanuel spent four years with the franchise. He has played in 63 games for the franchise. A Nebraska native, he played collegiately at FCS powerhouse North Dakota State.

He played out his four-year, $2.5 million rookie contract and had visited the Detroit Lions and had drawn other interest from other teams, according to multiple reports.

In his Twitter post on Thursday, the 27-year-old Emanuel said injuries have played a part in his retirement.

“There is no one specific reason why I came to this decision, but as I contemplated it this offseason, something told me it was time to walk away,” he wrote. “Although it wasn’t the sole reason, the injuries have started to pile up and I had to take my long-term health into consideration. I have no idea what will come next which is scary and exciting at the same time but I can’t wait to get started on whatever it is.”

Emanuel ends his career with 133 tackles (11 for loss), 10 quarterback hits, four sacks and two interceptions.

–Field Level Media

Source: OANN

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Starved infants, wounded women crowd Syrian hospitals after IS defeat

A wounded girl sits at a clinic at al-Hol displacement camp in Hasaka governorate
A wounded girl sits at a clinic at al-Hol displacement camp in Hasaka governorate, Syria April 2, 2019. REUTERS/Ali Hashisho

April 7, 2019

By John Davison

HASAKA, Syria (Reuters) – The paramedics’ log at al-Hol camp in eastern Syria lists the injuries and ailments of infants rushed from the battlefield to its crowded, dirty clinic: malnourishment, stunted growth, broken leg.

Those in critical need – mostly emaciated babies born in war to the wives of dead Islamic State militants – are taken to the nearest hospital, a bumpy two-hour drive away. Other people cram into a waiting room with a tin roof in a growing queue for basic medical treatment.

At the hospital, staff have had to build two portacabins on the roof that serve as a makeshift ward for the treatment of malnourished babies, crammed sometimes two or three to a cot.

Lower floors are filled with teenagers missing limbs and women with shrapnel and bullet wounds.

The exodus during intense fighting of more than 60,000 people from Islamic State’s final redoubt of Baghouz is overwhelming medical staff in eastern Syria who struggle to cope at the camp and ill-equipped hospitals.

Scores of people, mostly children, have died on the 150-mile (240-kilometer) journey to al-Hol or soon after arriving, aid groups say.

“My son has a dislocated hip. He needs an operation urgently,” said Umm Mohammed, a veiled 33-year-old woman holding an expressionless six-month-old boy at the camp.

“Medics keep saying they have more urgent cases to deal with – wounds and shrapnel injuries.”

In the waiting area, dozens of people who mostly left Baghouz during a brief truce last month, arranged for civilians and surrendering militants to evacuate, sit on wooden benches or the concrete floor. Children in wheelchairs watch while babies scream as they are bandaged or given injections.

U.S.-backed forces declared the defeat in March of Islamic State’s self-proclaimed caliphate – the territory it once held in Iraq and Syria – after militants were driven out of the village of Baghouz where they made a months-long last stand.

The intense bombardment and fighting to dislodge the Sunni Islamist extremist group cost countless lives and wounded many more people, including the wives of fighters, their children, IS supporters and other civilians trapped by the militants in the enclave.

Those who evacuated in recent weeks have strained healthcare in Kurdish-run areas of eastern Syria beyond capacity.

In the clinic at al-Hol, which is hosting more than 70,000 people displaced by violence, many people wore crude casts. One woman said she did not have enough painkillers for a wound to her hand – a long metal rod from the explosion that wounded her and killed three relatives was still lodged in her knuckle.

“I just want an X-ray at the hospital,” she said, giving her name as Umm Ahmed.

STARVING CHILDREN OF ISLAMIC STATE

But local hospitals can take only the most severe cases.

In one room at the hospital in the nearby town of Hasaka, 19-year-old Baraa al-Kurdi, the wife of a Syrian Islamic State member, lay motionless next to a boy with third-degree burns covering his head.

“I was hit in the head by shrapnel,” Kurdi said quietly. “We were next to a car packed with ammunition and explosives, including suicide belts ready for fighters to use.

“My husband was killed. My daughter is one month old – she’s upstairs in the babies’ ward.”

Kurdi’s daughter was one of the few non-foreign infants in the ward.

Others, many blond or with Asian features, lay quietly in their cots with cheekbones showing and eyes sunken into their sockets from malnutrition. The patients’ register listed the names their mothers gave the hospital – Ali Azerbaijani, Ali al-Uzbeki, Mohamed Skramo, a Norwegian name.

Many who remained in Baghouz until the end of the fighting were die-hard supporters of Islamic State who flocked from all over the world to support its violent interpretation of Islam.

A number of European countries have refused to take back citizens who joined IS, putting additional strain on local authorities to deal with prisoners and patients.

“Children from the camp are arriving night and day. We currently have more than 70 babies being treated for malnutrition,” a nurse in the ward said.

She and other hospital staff declined to be named or for the hospital to be identified, fearing reprisals for treating the children of IS fighters.

“Most cases are treated and then returned to the camp. A few have died. We’re doing out best but had limited resources even before this influx.”

More than 200 people have died on their way to al-Hol or after arriving in the camp in recent months, according to the International Rescue Committee. It said this week that around 30 to 50 cases every day were referred to local hospitals.

“We get 30 ambulances arriving each day,” a local health official said, also declining to be named.

“There’s aid from international organizations for those from Baghouz. They’re mostly foreign. We can barely provide healthcare for our own.”

(Reporting by John Davison; Editing by Tom Perry/Mark Heinrich)

Source: OANN

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Highwaymen Exposes How Media & Gov’t Corrupt And Distort Truth

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Trump Cancels $929M in California High-Speed Rail Funds

The U.S. Transportation Department said on Tuesday it will cancel $929 million in federal grant funds awarded by the Obama administration for a California high-speed rail project and is "actively exploring every legal option" to seek the return of $2.5 billion the state has already received.

The department's Federal Railroad Administration said in a letter that the state had "failed to make reasonable progress" and cited Governor Gavin Newsom's announcement last week that the state would dramatically scale back the project.

Source: NewsMax Politics

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Video: Proof Modern Liberals Have Aligned With The KKK

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Christians’ ethnic inclusion in Sri Lanka keeps fragile calm

During the bad years, when rebels mostly from the ethnic minority Tamils and majority Sinhalese government forces were slaughtering each other in a horrific civil war, Gnanamani found solace in something many of her fellow Tamils didn't have: Christianity, and especially its long inclusion in Sri Lanka's main ethnic groups.

A religious minority here, Christians are part of both the Sinhalese and Tamil ethnic groups, unlike the mainly homogenous Tamil Hindus and Sinhalese Buddhists on the teardrop-shaped island in the Indian Ocean.

After Islamic militants detonated suicide bombs on Sunday that killed Easter worshippers in three churches, including St. Anthony's, a few blocks from Gnanamani's home in the warren of streets of Colombo's 13th zone, she and other Tamil and Sinhalese Christians are once again turning to a religion that, unusually for Sri Lanka, binds people of different ethnicities by a single faith.

Experts and Christians interviewed by The Associated Press after the attacks say this imbedded ethnic cooperation, along with Christian leaders who have consistently preached restraint, helps explain the measured calm that has — so far — been the response to the coordinated bombing of churches and hotels that killed 253 people.

"Being a Christian sets an example to others, because we did not retaliate after this violence was done to us. We were restrained — Sinhalese and Tamil Christians both," Gnanamani, a 60-year-old housewife who goes by one name, said as she squatted on her stoop in a narrow, sunless alley, hundreds of black and white condolence streamers fluttering in a breeze above. "If this happened to Buddhist shrines or temples, there would have been an explosion of violence."

There is indeed widespread fear here that more attacks, especially if they target other faiths, could return Sri Lanka, which is majority Buddhist but has significant Christian, Muslim and Hindu populations, to something like the cycle of sectarian violence and retaliation that marked the nearly three-decade civil war that ended in 2009.

"Within the Christian community there has to be moderation because by its nature it consists of two different ethnic communities. There's a natural instinct for them to look at such religious and ethnic issues with deep compassion," said Rohan Gunaratna, a religion and security expert and co-author of "The Three Pillars of Radicalization."

But peace is not guaranteed.

"Sri Lanka must not take this Christian interreligious harmony for granted," Gunaratna said in a phone interview. "The danger is that the Christian patience could break if there are more attacks, and that is what the terrorists want."

About 7% of Sri Lanka's 21 million people are Christian, and most are Roman Catholic, according to Mathew Schmalz, a professor at the College of the Holy Cross and an expert on Christianity in South Asia.

There has not always been universal Christian unity and restraint in Sri Lanka.

During the civil war that began in 1983, Christianity was divided, with members of the faith fighting for both the largely ethnic Tamil separatists and the mostly Sinhalese Buddhist government forces, experts say, and some tension still lingers.

With the recent attacks against Christians and foreigners, there's worry that militant anti-Muslim Buddhists might be strengthened. "There might be less incentive now to step in to defend Muslims, and militant Buddhists might claim that they had been right all along to see Muslims as a threat," Schmalz said by email.

The largely peaceful mixing of religions and ethnicities found in many parts of Colombo can be seen in the extended family of Anoma Damayanthi Liyanage, a 52-year-old Buddhist factory worker who lives in a small, neat, tin-roofed house in an alley off Jampettah Street in the Kochchikade neighborhood near St. Anthony's.

Liyanage's 25-year-old daughter, who married into a Christian family, was seriously injured in the blast. Liyanage herself was at St. Anthony's and escaped the bomb only because she left a few minutes earlier with her Christian son-in-law when her 1 ½-year-old granddaughter began crying too loudly.

"It's common for Tamil and Sinhalese Christians to marry each other," Pradeepa Jayasinghe, a Sinhalese Christian relative, said. "We've always understood each other very well. We were raised from childhood together."

Her daughter, 21-year-old Hishara, said, "We get together because of our Christian traditions. We're not Tamil or Sinhalese. We look first if there is Christianity."

The bombings, however, have stirred complex feelings among Christians.

Not far from the bombed church of St. Sebastian's in a village in the city of Negombo, beyond the metal security barriers and the dozens of camouflaged soldiers carrying automatic weapons, Catholic priests Niroshan Perera and Anthony Nishan stand in their long white cassocks and watch fresh graves being dug for Christians killed by the attack on their church. There are 41 dirt mounds piled with flowers and candles, with wooden crosses marked mostly with numbers that correspond to names in a book that the priests keep.

There's fear of more violence and deep grief in this majority Christian enclave outside Colombo. "The whole village is a funeral. The houses here are filled with coffins," Nishan said of a place where about 120 Christians died in the bombing.

There's also rage. Father Perera, 45, had a single description for the politicians who were told that terror attacks against Christians might be coming but didn't notify the communities: "terrorists."

A Catholic villager — Senake Perera, 55, a Sinhalese Catholic — said he would follow the restraint preached by Catholic leaders. But he also had a very human response to the fresh graves and wooden crosses, to the coffins and the dozens of color photos of the victims displayed on banners that fill this neighborhood.

"I have a feeling in my heart that we should go after the Muslims, that we should retaliate," he said.

For the time being, however, like the Christians of Colombo interviewed by AP, there's a belief that Catholics won't hit back.

"After the tragedy, we are united because of the practice of dealing with other ethnicities which is within our Christianity," said Father Nishan, 29, who's the son of a Tamil father and Sinhalese mother, and who often gives Masses in Tamil, Sinhala and English. "Even if there are more attacks, Catholics won't respond with violence," he said. "That's the beauty of Christianity here. We don't have the division. We have to live together."

Source: Fox News World

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FILE PHOTO: The Federal Reserve Board building on Constitution Avenue is pictured in Washington
FILE PHOTO: The Federal Reserve Board building on Constitution Avenue is pictured in Washington, U.S., March 27, 2019. REUTERS/Brendan McDermid

April 26, 2019

NEW YORK (Reuters) – The Federal Reserve may lower the interest it pays on excess reserves banks leave with it by 5 basis points at its April 30-May 1 policy meeting in a bid to prevent the federal funds rate from drifting higher, Morgan Stanley analysts said on Friday.

This would mark the third such “technical” adjustment on the interest on excess reserves (IOER) following cuts last June and December.

(Reporting by Richard Leong; Editing by Chizu Nomiyama)

Source: OANN

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The Latest on fatal pileup on Interstate 70 near Denver (all times local):

10:10 a.m.

Colorado officials say four people have died after a semi-truck hauling lumber plowed into vehicles on Interstate 70, causing a fire so intense that it melted the roadway and metal off of cars.

Authorities had to wait until daylight Friday to confirm the death toll from Thursday’s 28-vehicle pileup because of the devastation caused by the fire.

Six people were taken to hospitals with injuries. Their conditions are unclear.

Lakewood police spokesman Ty Countryman says the driver of the truck who caused the crash sustained minor injuries. He has been arrested on suspicion of vehicular homicide.

Officials say the driver was headed down a hill when he slammed into slower traffic. Countryman says there is no indication the crash was intentional.

____

7:40 a.m.

A truck driver blamed for causing a deadly pileup involving over two dozen vehicles near Denver has been arrested on vehicular homicide charges.

Lakewood police spokesman Ty Countryman said Friday that there’s no indication that drugs or alcohol played a role in Thursday’s crash.

The unidentified driver was headed down a hill on Interstate 70 when he slammed into slower traffic and sparked a massive fire. Countryman said police are looking at whether his brakes were working properly.

He said 28 vehicles were involved, up from the initial 15 vehicles police reported after further sorting through the burned wreckage.

Police still say there were multiple fatalities but are still working to provide an exact number.

The highway is expected to remain closed until Saturday.

Source: Fox News National

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Tiger woods celebrates after winning the 2019 Masters
FILE PHOTO: Golf – Masters – Augusta National Golf Club – Augusta, Georgia, U.S. – April 14, 2019 – Tiger Woods of the U.S. celebrates on the 18th hole after winning the 2019 Masters. REUTERS/Lucy Nicholson

April 26, 2019

Tiger Woods is sending a message that he thinks he still has enough left, emotionally and physically, to win three more major championships to tie Jack Nicklaus’ record 18 titles.

Speaking to GolfTV in his first sit-down interview since the Masters, Woods said he has taken some time off since his victory at Augusta National, which still doesn’t feel real.

“Honestly, it’s hard to believe,” Woods said. “I was texting one of my good friends last night … that I couldn’t believe that I won the tournament. That it really hasn’t sunk in. I haven’t started doing anything. I’ve just been laying there. And every now and again, I’ll look over there on the couch and there’s the jacket.”

That’s the fifth green jacket for the 43-year-old Woods, who hadn’t won a major tournament since the 2008 U.S. Open. Along the way, four back surgeries, a divorce and other personal issues derailed him.

He said he has been spending time with his children – daughter Sam, 11, and son Charlie, 10 – who weren’t born when their father was the most dominant golfer on the planet.

“They never knew golf to be a good thing in my life and only the only thing they remember is that it brought this incredible amount of pain to their dad and they don’t want to ever want to see their dad in pain,” Woods said. “And so to now have them see this side of it, the side that I’ve experienced for so many years of my life, but I had a battle to get back to this point, it feels good.”

He said he hopes – maybe expects — they’ll see this side again.

And no one will take Woods for granted at the PGA Championship at Bethpage Black Course on Long Island, N.Y., which starts May 16.

Woods said he’ll be ready for a course he already conquered once in a major: the 2002 U.S. Open.

“I’m doing all the visual stuff, but I haven’t put in the physical work yet. But it’s probably coming this weekend,” he said.

Before Woods encountered health and personal problems, it was expected that topping Nicklaus’ major mark was “when” and not “if.” Then the certainty went away, but Woods thought he still had a chance.

“I always thought it was possible, if I had everything go my way. It took him an entire career to get to 18, so now that I’ve had another extension to my career – one that I didn’t think I had a couple of years ago – if I do things correctly and everything falls my way, yeah, it’s a possibility. I’m never going to say it’s not.

“Now I just need to have a lot of things go my way, and who’s to say that it will or will not happen? That’s what the future holds, I don’t know. The only thing I can promise you is this: that I will be prepared.”

–Field Level Media

Source: OANN

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Maria Butina, the Russian woman who was accused of being a secret agent for the Russian government, was sentenced to 18 months in prison Friday by a federal judge in Washington after pleading guilty last year to a conspiracy charge.

Butina, who has already served nine months behind bars, will get credit for time served and can possibly get credit for good behavior, the judge said. She will be removed from the U.S. promptly on completion of her time, the judge added, and returned to Russia.

MARIA BUTINA, ACCUSED RUSSIAN SPY, PLEADS GUILTY TO CONSPIRACY

An emotional and apologetic Butina said in court Friday she is “truly sorry” and regrets not registering as a foreign agent.

“I feel ashamed and embarrassed,” she said, adding that her “reputation is ruined.”

Butina has been jailed since her arrest in July 2018. She entered the court Friday wearing a dark green prison jumpsuit and spoke in clear English, with a slight Russian accent.

“Please accept my apologies,” Butina said.

Butina’s lawyer, Robert Driscoll, said after the sentencing they had hoped for a “better outcome,” but expressed a desire for Butina to be released to her family by the fall.

Prosecutors had claimed Butina used her contacts with the National Rifle Association and the National Prayer Breakfast to develop relationships with U.S. politicians and gather information for Russia.

Prosecutors also have said that Butina’s boyfriend, conservative political operative Paul Erickson, identified in court papers as “U.S. Person 1,” helped her establish ties with the NRA.

WHO IS MARIA BUTINA, THE RUSSIAN WOMAN ACCUSED OF SPYING ON US?

In their filings, prosecutors claim federal agents found Butina had contact information for people suspected of being employed by Russia’s Federal Security Services, or FSB, the successor intelligence agency to the KGB. Inside her home, they found notes referring to a potential job offer from the FSB, according to the documents.

Investigators recovered several emails and Twitter direct message conversations in which Butina referred to the need to keep her work secret and, in one instance, said it should be “incognito.” Prosecutors said Butina had contact with Russian intelligence officials and that the FBI photographed her dining with a diplomat suspected of being a Russian intelligence agent.

Fox News’ Jason Donner, Bill Mears, Greg Norman and the Associated Press contributed to this report.

Source: Fox News Politics

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An official Sri Lankan police Twitter account was deleted after it misidentified an American human rights activist as a suspect in the country’s Easter Sunday terrorist attacks.

On Thursday, police posted the names and photos of six people that they said were at-large suspects in the bombings that killed more than 250 people.

However, one of the names on the list was Muslim U.S. activist Amara Majeed, who quickly tweeted that she had been falsely identified.

“I have this morning been FALSELY identified by the Sri Lankan government as one of the ISIS terrorists that committed the Easter attacks in Sri Lanka. What a thing to wake up to!” she wrote.

SRI LANKA AUTHORITIES SAY EASTER ATTACK LEADER KILLED IN ONE OF NINE HOTEL BOMBINGS

She wrote in a follow-up tweet that the claim was “obviously completely false” and asked social media users to “please stop implicating and associating me with these horrific attacks.”

“And next time, be more diligent about releasing such information that has the potential to deeply violate someone’s family and community,” she continued.

Later, she wrote an update saying police apologized for wrongly mistaking her as a suspect.

Police said in a statement: “However, although one of the released images was identified as one Abdul Cader Fathima Khadhiya in the information provided by the CID, the CID has now informed that a) the individual whose image was labeled as Abdul Cader Fathima Khadiya is not in fact Abdul Cader Fathima Khadiya b) the individual pictured is not wanted for questioning c) Abdul Cader Fathima is the correct name of the suspect wanted by the CID.”

On Friday, the account, @SriLankaPolice2 was deleted with no explanation. Police did not release more information regarding the mistake.

Majeed, who founded “The Hijab Project” when she was 16 years old, told the Baltimore Sun that it was hurtful to be linked to the attacks.

“Sri Lanka is my motherland,” the Brown University student said. “It’s very painful to be associated with [the bombings].”

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Mohamed Zahran, the suspected leader of the attacks which targeted six hotels and churches, killed himself in a suicide bombing at the Shangri-La hotel. Police also said they had arrested the second-in-command of the group, called National Towheed Jamaat. Catholic churches in Sri Lanka canceled all Sunday Masses until further notice over concerns that they remain a top target of Islamic State-linked extremists.

The Associated Press contributed to this report.

Source: Fox News World

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