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Udall's Surprise Exit Leaves New Mexico Senate Race Wide Open

The New Mexico political landscape was blown asunder Monday night when two-term Sen. Tom Udall stunned fellow Democrats by announcing he would not seek re-election in 2020.

The son of the late U.S. Secretary of the Interior Stewart Udall and nephew of the late U.S. Rep. Mo Udall — both icons in the environmental community — Tom Udall has never had difficulty winning his previous two terms and was considered a cinch for his third.

His explanation for leaving was unclear: “The worst thing anyone in public office can do is believe the office belongs to them, rather than the people they represent.  That’s why I’m announcing today that I won’t be seeking re-election next year.”

Udall’s exit paves the way for the likely nomination of a Hispanic Democrat as his successor.  The two most oft-mentioned names are those of State Attorney General Hector Balderas, the top vote-getter of any statewide candidate last year, and six-term Rep. Ben Ray Lujan, Assistant Speaker of the House and past chairman of the Democratic Congressional Campaign Committee.

Both are about the same age (Balderas is 45, Lujan 46) and committed liberals on every issue from abortion to opposing the Trump agenda.  Both are among the best-known of their state’s politicians — Balderas became New Mexico’s youngest-ever Hispanic statewide official when he was elected state auditor in 2006 at age 33, Lujan is the namesake-son of a well-known office-holder.

Balderas is considered a cinch to run but sources generally feel Lujan may opt to remain in the House where he is thought to have a chance to succeed friend and mentor Nancy Pelosi as speaker when she steps down in 2022.

Three other Democrats mentioned for the Senate are Lt. Gov. Howie Morales, Secretary of State Maggie Tolouse Oliver, and Rep.  Xochiti Torres Small.  But all are in their first terms in their current offices and thought unlikely to challenge the more seasoned Balderas and Lujan.

Even Republicans admit that New Mexico is leaning more toward Democrats.  Last year, Democrats won races for the governorship and U.S. Senate seat, maintained their majorities in both legislative houses and picked up a Republican U.S. House seat. 

At this early stage in the race, Republican hopes are pinned on Steve Maestas, self-made millionaire developer and political newcomer.  A graduate of Catholic High School who never went to college, the hard-charging Maestras launched the development company that went on oversee more than 50 projects throughout the Southwest.  A political newcomer, Maestras is considered a strong conservative.

Prospective candidates for a Senate seat that has just become open may, of course, change dramatically when the primaries are more than a year away.  For now, about the safest bet one can make is that the race to succeed Tom Udall is wide open. 

John Gizzi is chief political columnist and White House correspondent for Newsmax. For more of his reports, Go Here Now.

Source: NewsMax Politics

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The Latest: Witness: Officer said 'I don't know why I fired'

The Latest on the homicide trial of a white Pennsylvania police officer in the shooting of an unarmed black 17-year-old (all times local):

11:50 a.m.

A witness says he saw a white officer who fatally shot an unarmed black teenager in Pittsburgh panicking on the sidewalk, saying, "I don't know why I shot him. I don't know why I fired."

Neighbor John Leach testified Wednesday as the second day of the trial of former East Pittsburgh Police Officer Michael Rosfeld resumed.

Leach lives a couple houses away. He said he was on his front porch when Rosfeld fired three bullets into 17-year-old Anton Rose II after pulling over an unlicensed taxicab suspected to have been used in a drive-by shooting minutes earlier.

Leach says he saw other police officers consoling Rosfeld. Leach says Rosfeld was bending over crying, hyperventilating and looked like he was about to pass out.

A second witness video was also played in court.

___

10:10 a.m.

The mother of an unarmed black teenager who was fatally shot by a white former police officer is urging prosecutors to show what a "kind, loving and funny" person her son was.

Michelle Kenney's letter to prosecutors was released Wednesday, as the second day of the trial of former East Pittsburgh Police Officer Michael Rosfeld resumes in a Pittsburgh courtroom.

In the letter, Kenney asks prosecutors to paint a picture of her son Antwon Rose II as the loving, exceptional person that he was. She says they must counter the defense's portrayal of the 17-year-old high school student as "just another thug."

She says he taught children in the neighborhood how to roller blade and skateboard and would give away his skates to kids in need. She calls him a "rose that grew from concrete."

In June, Rosfeld fired three bullets into Rose after pulling over an unlicensed taxicab suspected to have been used in a drive-by shooting minutes earlier.

Rose was shot as he fled the car.

___

3 a.m.

Video that showed a white police officer shooting to death an unarmed black teenager is among the evidence presented during the first day of the former cop's criminal homicide trial.

More testimony is expected Wednesday when the trial of former East Pittsburgh Police Officer Michael Rosfeld resumes in a Pittsburgh courtroom.

The 30-year-old Rosfeld is accused in the June death of 17-year-old high school student Antwon Rose II.

Rosfeld fired three bullets into Rose after pulling over an unlicensed taxicab suspected to have been used in a drive-by shooting minutes earlier.

Rose was a front-seat passenger in the cab and was shot as he fled.

A neighbor who recorded the confrontation said the tone of Rosfeld's voice is what got her attention.

Source: Fox News National

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Beto O’Rourke is asked by University of Iowa student if he was at town hall to ‘see Beto’

Democratic presidential candidate Beto O’Rourke has revealed that although he may have national name recognition, it is still somewhat difficult for new fans to put a face to that name.

O’Rourke, 46, called out his new friend, Matt, before a town hall on the University of Iowa’s campus Sunday, the Iowa City Press-Citizen reported.

“And to my friend, Matt, who I met in the men’s room as we were washing hands, and he said, ‘Are you here to see Beto?’” the former Texas congressman told a laughing crowd.

“And I said, ‘Yes, I am,” he continued. “Thank you for being here. I was wearing the hat you couldn’t tell!”

BETO O'ROURKE CALLS ISRAELI LEADER NETANYAHU A 'RACIST'

The student, Matthew Rowland, told the Iowa City Press-Citizen that he bumped into O’Rourke in the bathroom and the two made small talk.

"I was in the bathroom, minding my own business, and I was washing my hands," Rowland told the media outlet. "And this guy asked me how it was going, and I said good, 'How's it going,' going for some small talk.”

BETO O'ROURKE COMPARES TRUMP ADMINISTRATION RHETORIC TO NAZI GERMANY

When he asked the politician if he was there to see O’Rourke, he said the stranger looked at him and said, “That’s me.”

"I was in awe and shook his hand," Rowland said. "A super polite guy. I'm just glad I got a chance to meet him."

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O’Rourke announced his candidacy for the 2020 Democratic nomination in March. The former congressman said he raised $6.1 million online in the first 24 hours after his announcement. He is part of a crowded field of 20 people who are in the running for the Democratic ticket, including Vermont Senator Bernie Sanders, South Bend Mayor Pete Buttigieg and California Sen. Kamala Harris.

Source: Fox News Politics

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Yale Removes Student Tied to Admissions Scheme

Yale University has removed one of its students who was caught up in the admissions scandal involving wealthy families who paid, in some cases, more than $1 million to bribe their children into college.

CNN cited a post on the school's website that said one student was accepted into the school through the scheme, which in this case involved women's soccer coach Rudy Meredith, and another was denied acceptance.

The network reported Monday that the student who was accepted no longer is a student at the New Haven, Connecticut school, marking the first time a student who was admitted to a school through the admissions scheme was removed by the school.

Rick Singer was the mastermind of the national scheme. In the case of the Yale student who was accepted, he is accused of creating a fraudulent athletic profile of the student and paying Meredith $400,000 after the student got in. The parents of the student allegedly paid Singer $1.2 million.

The daughter of "Full House" star Lori Loughlin got into USC after her parents paid a bribe, but she left the school after the scheme was made public. Her parents and several other people were arrested and charged with several crimes.

Source: NewsMax America

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Dem Sen. Tom Udall announces he won't seek re-election in 2020

Sen. Tom Udall, D-N.M., announced Monday that he will not seek re-election in 2020 – vacating a seat he’s held since 2009 and ending a career in Washington that spans decades.

Udall, 70, a member of one of the American West’s most prominent political families and cousin of former Democratic Sen. Mark Udall of Colorado, said in a statement that he plans to use his final years in the Senate to tackle the “three real crises’ facing the country.

HUNDREDS IN NEW MEXICO CALL FOR END OF FAMILY DETENTIONS 

“I see these next two years as an incredible opportunity,” Udall said. “Without the distraction of another campaign, I can get so much more done to help reverse the damage done to our planet, end the scourge of war, and to stop this president’s assault on our democracy and our communities.”

He added: “These are three real crises that are happening right now and are threatening the very foundations of our great nation. If we don’t do something, it will soon be too late.”

Udall won his first term in Congress in 2008 by more than 20 points and his 2014 re-election by more than 10 points.

It is unclear who will run to fill the seat being vacated by Udall, but the race is seen as a likely easy pick-up for the Democrats.

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The Cook Political Report puts the 2020 Senate race in New Mexico in the “solid” Democratic column and last year Sen. Martin Heinrich, D-N.M., easily carried the state by more than 20 points to win his second term in the Senate.

Currently, no member of the New Mexico congressional delegation is a Republican.

Source: Fox News Politics

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Anti-government protesters briefly break into Serbia TV building

Protesters briefly broke into Serbia's state television building during a protest against Serbian President Aleksandar Vucic and his government in central Belgrade, Serbia
Protesters briefly broke into Serbia's state television building during a protest against Serbian President Aleksandar Vucic and his government in central Belgrade, Serbia, March 16 , 2019. REUTERS/Djordje Kojadinovic

March 16, 2019

BELGRADE (Reuters) – Protesters briefly broke into Serbia’s state television building in the capital Belgrade on Saturday demanding media freedom and unbiased coverage of more than three months of anti-government demonstrations.

The protesters had been taking part in a demonstration by several thousand people against the rule of President Aleksandar Vucic and his Serbian Progressive Party (SNS), calling for media freedom as a condition for free and fair elections.

State television news has given scant coverage to similar protests that have taken place every Saturday since early December.

“For the past months we have been asking only for one thing – to allow protest organizers to speak on the state television,” said Bosko Obradovic, leader of the Dveri political party.

It was not immediately clear how many protesters had entered the building, but it was the first such incursion at state TV by activists opposed to the authorities for almost 20 years.

Several thousand protesters remained in front of the building as activists chanted “Vucic thief” in the corridors of the building.

Anti-riot police later entered the facility and began to take out the demonstrators one by one.

“Everyone who is in the Radio Television Serbia building this evening will be held responsible,” Interior Minister Nebojsa Stefanovic told a press conference shortly before the police took action.

Anti-government demonstrators last stormed the state TV building, known as the government mouthpiece, on October 5, 2000, bringing down the regime of strongman Slobodan Milosevic.

The protesters on Saturday were brought together by the Alliance for Serbia, a loose grouping of 30 opposition parties and organizations.

Vucic has previously said he would not bow to opposition demands for electoral reform and increased media freedom “even if there were five million people in the street”, but said he was willing to test his party’s popularity in a snap vote.

The protests have spread to other cities in Serbia and on Friday were held in Novi Sad, the second-largest city, the southern city of Nis and several other towns, though numbers outside the capital remain small.

(Reporting by Ivana Sekularac, Editing by William Maclean)

Source: OANN

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As stock sinks after Berenberg error, Atos alerts French markets watchdog

FILE PHOTO: People walk in front of the Atos company's logo during a presentation of the new Bull sequana supercomputer in Paris
FILE PHOTO: People walk in front of Atos company's logo during a presentation of the new Bull sequana supercomputer in Paris, France, REUTERS/Philippe Wojazer/File Photo

April 2, 2019

By Josephine Mason

LONDON (Reuters) – Atos said on Tuesday it has alerted the French markets regulator after Berenberg withdrew its downgrade of the software company’s stock, which briefly wiped almost 450 million euros ($503.42 million) off its market capitalization.

Analyst firm Berenberg on Tuesday issued a research note titled ‘Unleash the bears’, downgrading its rating on the stock to ‘sell’ and reducing its price target to 60 euro ($67) from 90 euro following Atos’ sale of its stake in Worldline.

Berenberg later retracted the note, saying in an email that it had contained an error in its valuation approach and instead analyst Georgios Kertsos placed the stock under review.

“Analyst firm Berenberg issued this morning an analyst note on Atos, which was immediately withdrawn after realizing it contained a material error,” Atos said on its website.

“This had a temporary impact on the stock price of Atos. The group has alerted the French Financial Markets Regulator (AMF).”

Berenberg, a private German bank based in Hamburg, declined to comment further and France’s AMF declined to comment.

A change in recommendation on a company’s stock can often influence the direction of its price. It’s not known how the mistake at Berenberg occurred, but such a retraction is rare.

“In all the years I have been trading, this is the first time that I have seen a retraction,” said one dealer.

Berenberg issued the retraction after being contacted by Atos’ financial and investor relations team about an error in the report, an Atos spokesman said. He would not disclose any further details.

The downgrade knocked 444 million euros off the French company’s market capitalization and sent its shares down almost 5 percent to 83.96 euros in early trading on Tuesday.

They recovered some ground after the retraction, but were still down 1.9 percent at 1514 GMT on the Paris bourse. The CAC 40 was up 0.2 percent.

With just under 775,000 shares traded, turnover in the stock was two-thirds higher than daily averages.

(Reporting by Josephine Mason, Thyagaraju Adinarayan and Helen Reid, additional reporting by Inti Landauro in PARIS; editing by Louise Heavens and Emelia Sithole-Matarise)

Source: OANN

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FILE PHOTO - A worker sits on a ship carrying containers at Mundra Port in the western Indian state of Gujarat
FILE PHOTO: A worker sits on a ship carrying containers at Mundra Port in the western Indian state of Gujarat April 1, 2014. REUTERS/Amit Dave/File Photo

April 26, 2019

(Reuters) – India has once again delayed the implementation of higher tariffs on some goods imported from the United States to May 15, a government official said on Friday.

The new tariff structure was to come into force from May 2, the spokeswoman said without citing reasons for the delay.

Angered by Washington’s refusal to exempt it from new steel and aluminum tariffs, New Delhi decided in June last year to raise the import tax from Aug. 4 on some U.S. products including almonds, walnuts and apples.

But since then, New Delhi has repeatedly delayed the implementation of the new tariff.

Trade friction between India and the U.S. has escalated after U.S. President Donald Trump announced plans earlier this year to end preferential trade treatment for India that allows duty-free entry for up to $5.6 billion worth of its exports to the United States.

In a further blow, U.S. on Monday demanded buyers of Iranian oil stop purchases by May or face sanctions, ending six months of waivers which allowed Iran’s eight biggest buyers including India to continue importing limited volumes.

(Reporting by Manoj Kumar in New Delhi and Kanishka Singh in Bengaluru; Editing by Anil D’Silva and Raissa Kasolowsky)

Source: OANN

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One of Joe Biden’s newly-hired senior advisers has seemingly had a very recent change of heart.

Symone Sanders, a prominent Democratic strategist and Sen. Bernie Sanders, I-Vt., staffer in 2016, was announced as one of the big-name members of Team Biden on Thursday.

But Sanders, who has also served as a CNN contributor, is seen in resurfaced footage from November 2016 expressing her opposition to a white person leading her party after Donald Trump’s election.

“In my opinion, we don’t need white people leading the Democratic party right now,” Sanders told host Brianna Keilar during a discussion on Howard Dean potentially becoming DNC chairman.

BIDEN HIRES FORMER BERNIE SANDERS’ SPOKESPERSON AS SENIOR ADVISER

“The Democratic party is diverse, and it should be reflected as so in leadership and throughout the staff, at the highest levels. From the vice chairs to the secretaries all the way down to the people working in the offices at the DNC,” she said.

Sanders wrapped up her remarks by saying: “I want to hear more from everybody. I want to hear from the millennials and the brown folks.”

Footage of the interview was resurfaced by RealClearPolitics.

After news of her hiring broke on Thursday, Sanders backed her new boss on Twitter.

TRUMP ASSESSES 2020 DEMS; TAKES SWIPES AT BIDEN, SANDERS; DISMISSES HARRIS, O’ROURKE; SAYS HE’S ROOTING FOR BUTTIGIEG

“@JoeBiden & @DrBiden are a class act. Over the course of this campaign, Vice President Biden is going to make his case to the American ppl. He won’t always be perfect, but I believe he will get it right,” she wrote.

The hiring of Sanders has been viewed as another indication of the expected tough fight that Biden and Sanders are in for as the two frontrunners battle a deep Democratic field.

While Sanders himself didn’t torch Biden as he jumped into the race, it’s clear that many of his progressive supporters view the former vice president as a threat.

Biden’s entry into the race – at least in the early going – sets up a battle between himself and Sanders, who thanks to his fierce fight with eventual nominee Hillary Clinton for the 2016 Democratic nomination, enjoys name ID on the level of the former vice president.

BIDEN VOWS THAT ‘AMERICA IS COMING BACK,’ SPARKING ‘MAGA’ COMPARISONS

Justice Democrats — who also called Biden “out-of-touch” – is an increasingly influential group among the left of the party. They’ve championed progressive Rep. Alexandria Ocasio-Cortez of New York as well as Sanders. The group was founded by members of Sanders 2016 presidential campaign.

Biden has pushed back against the perception that he’s a moderate in a party that’s increasingly moving to the left. Earlier this month he described himself as an “Obama-Biden Democrat.”

And Biden said he’d stack his record against “anybody who has run or who is running now or who will run.”

Former Democratic National Committee chair Donna Brazile – a Fox News contributor – highlighted that “Joe Biden can occupy his own lane in large part because he’s earned it. He’s earned the right to call himself whatever.”

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But she emphasized that “elections are not about the past, they’re about the future…I do believe he has the right ingredients. The question is can he find enough people to help him stir the pot.”

Fox News Andrew O’Reilly contributed to this report.

Source: Fox News Politics

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Baltimore Mayor Catherine Pugh, who is facing increased calls for her immediate resignation, remains in poor health and is not “lucid” enough to decide whether to step down, her attorney told reporters late Thursday.

Steve Silverman, speaking outside one of Pugh’s residences which was raided by the FBI and IRS earlier in the day, said the embattled city leader could make a decision as early as next week.

“She is leaning toward making the best decision in the best interest in the citizens of Baltimore City,” he said, adding that Pugh has “several options” to consider.

“She just needs to be physically and mentally sound and lucid enough to make appropriate decisions.”

BALTIMORE MAYOR CATHERINE PUGH, ON LEAVE AMID BOOK PROBE, HAS HOMES AND CITY HALL OFFICE RAIDED BY FEDS

Silverman said Pugh met with a doctor at home Thursday and plans to do so again Friday, the Baltimore Sun reported.

In the latest image-tarnishing scandal for struggling Baltimore, the first-term Democratic mayor faces accusations that she used children’s book deals to cover up kickbacks for favorable treatment as a state lawmaker and city leader that earned her roughly $800,000 over several years.

BALTIMORE’S ACTING MAYOR SAYS HE ‘WOULD HATE TO SEE’ EMBATTLED MAYOR RETURN AFTER BOOK SCANDALS

As a state senator, 69-year-old Pugh sold $500,000 worth of her self-published “Healthy Holly” illustrated paperbacks to the University of Maryland Medical System, a major state employer whose board she sat on for nearly 20 years.

Baltimore police officers stand outside the house of Baltimore Mayor Catherine Pugh in Baltimore, MD., Thursday, April 25, 2019. Agents with the FBI and IRS are gathering evidence inside the two homes of Pugh and also in City Hall. (AP Photo/Jose Luis Magana)

Baltimore police officers stand outside the house of Baltimore Mayor Catherine Pugh in Baltimore, MD., Thursday, April 25, 2019. Agents with the FBI and IRS are gathering evidence inside the two homes of Pugh and also in City Hall. (AP Photo/Jose Luis Magana)

UMMS reportedly paid Pugh for 100,000 copies of her books between 2011 and 2018 with the stated intention of distributing the books to schools and day care centers. But some 50,000 copies remain unaccounted for and officials are probing if they were even printed.

Pugh also made $300,000 in bulk sales to other customers including health carriers that did business with the city of Baltimore.

BALTIMORE CITY COUNCIL CALLS ON EMBATTLED MAYOR CATHERINE PUGH TO RESIGN IMMEDIATELY

The politically isolated Pugh slipped out of sight on April 1 after a hastily organized press conference where she called her no-contract book deals a “regrettable mistake.” That same day, Maryland’s governor called on the state prosecutor to investigate allegations of “self-dealing.”

Pugh took an indefinite leave of absence, citing her health deteriorating intensely after a bout with pneumonia.

Federal agents arrive at the Maryland Center for Adult Training in Baltimore. MD, Thursday, April 25, 2019. Agents with the FBI and IRS are gathering evidence inside the two homes of Baltimore Mayor Catherine Pugh and in City Hall, as well as the office of her lawyer and the home of a top aide.

Federal agents arrive at the Maryland Center for Adult Training in Baltimore. MD, Thursday, April 25, 2019. Agents with the FBI and IRS are gathering evidence inside the two homes of Baltimore Mayor Catherine Pugh and in City Hall, as well as the office of her lawyer and the home of a top aide. (Loyd Fox/Baltimore Sun via AP)

On Thursday morning, agents with the FBI and IRS searched her two Baltimore homes, her City Hall offices, and a nonprofit organization she once led. The home of at least one of Pugh’s aides was also scoured.

Silverman said federal agents also served a subpoena at his law firm, retrieving Pugh’s original financial records. They did not seek any attorney-client privileged communications, he said.

Pugh’s attorney said she was “emotionally extremely distraught” following the searches by FBI and IRS agents.

“There was nothing incriminating that came out of her home,” Silverman said.

UMMS spokesman Michael Schwartzberg told reporters that the medical system received a grand jury witness subpoena seeking documents and information related to Pugh.

Other probes against Pugh include a review by the city ethics board and the Maryland Insurance Administration.

BALTIMORE MAYOR’S $500G DEAL FOR ‘HEALTHY HOLLY’ CHILDREN’S BOOKS DRAWS SCRUTINY

In recent weeks, the calls for Pugh’s resignation have intensified with the strongest voice coming from Republican Gov. Larry Hogan, who did not mince words after Thursday’s early morning raids.

“Now more than ever, Baltimore City needs strong and responsible leadership. Mayor Pugh has lost the public trust,” he said. “She is clearly not fit to lead. For the good of the city, Mayor Pugh must resign.”

Federal Bureau of Investigation, and Internal Revenue Service agents search the home of Baltimore Mayor Catherine Pugh in Baltimore, MD., Thursday, April 25, 2019. Agents with the FBI and IRS are gathering evidence inside the two homes of Baltimore Mayor Catherine Pugh and in City Hall.

Federal Bureau of Investigation, and Internal Revenue Service agents search the home of Baltimore Mayor Catherine Pugh in Baltimore, MD., Thursday, April 25, 2019. Agents with the FBI and IRS are gathering evidence inside the two homes of Baltimore Mayor Catherine Pugh and in City Hall. (Jerry Jackson/Baltimore Sun via AP)

Many of her fellow Democrats, including those on Baltimore’s demoralized City Council and state lawmakers, are also insisting that Pugh put the citizens’ interests above any attempt to preserve her political career.

City Council member Brandon Scott called the Thursday raids “an embarrassment to the city.”

However, only a conviction can trigger a mayor’s removal from office, according to the city solicitor. Baltimore’s mayor-friendly City Charter currently provides no options for ousting its executive.

Six of Pugh’s staffers joined her on paid leave earlier this month; three of them were fired this week by the acting mayor.

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Pugh came to office in late 2016 after edging out ex-Mayor Sheila Dixon, who had spent much of her tenure fighting corruption charges before being forced to depart office in 2010 as part of a plea deal connected to the misappropriation of about $500 in gift cards meant for needy families.

She would certainly face a bruising 2020 Democratic primary if she were to return and run for reelection. Veteran City Council leader Bernard “Jack” Young, who is serving as acting mayor, said as she went on leave that he would merely be a placeholder. But this week, before the raids, he said “it could be devastating for her” if she tried to return.

The Associated Press contributed to this report.

Source: Fox News National

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FILE PHOTO: Cases of Pepsi are shown for sale at a store in Carlsbad
FILE PHOTO: Cases of Pepsi are shown for sale at a store in Carlsbad, California, U.S., April 22, 2017. REUTERS/Mike Blake/File Photo

April 26, 2019

By Amit Dave and Mayank Bhardwaj

AHMEDABAD/NEW DELHI (Reuters) – PepsiCo Inc has sued four Indian farmers for cultivating a potato variety that the snack food and drinks maker claims infringes its patent, the company and the growers said on Friday.

Pepsi has sued the farmers for cultivating the FC5 potato variety, exclusively grown for its popular Lay’s potato chips. The FC5 variety has a lower moisture content required to make snacks such as potato chips.

PepsiCo is seeking more than 10 million rupees ($142,840.82) each for alleged patent infringement.

The farmers grow potatoes in the western state of Gujarat, a leading producer of India’s most consumed vegetable.

“We have been growing potatoes for a long time and we didn’t face this problem ever, as we’ve mostly been using the seeds saved from one harvest to plant the next year’s crop,” said Bipin Patel, one of the four farmers sued by Pepsi.

Patel did not say how he came by the PepsiCo variety.

A court in Ahmedabad, the business hub of Gujarat, on Friday agreed to hear the case on June 12, said Anand Yagnik, the lawyer for the farmers.

“In this instance, we took judicial recourse against people who were illegally dealing in our registered variety,” A PepsiCo India spokesman said. “This was done to protect our rights and safeguard the larger interest of farmers that are engaged with us and who are using and benefiting from seeds of our registered variety.”

PepsiCo, which set up its first potato chips plant in India in 1989, supplies the FC5 potato variety to a group of farmers who in turn sell their produce to the company at a fixed price.

The All India Kisan Sabha, or All India Farmers’ Forum, has asked the Indian government to protect the farmers.

The farmers’ forum has also called for a boycott of PepsiCo’s Lay’s chips and the company’s other products.

The Ministry of Agriculture & Farmers’ Welfare did not immediately respond to an email seeking comment.

PepsiCo is the second major U.S. company in India to face issues over patent infringement.

Stung by a long-standing intellectual property dispute, seed maker Monsanto, which is now owned by German drugmaker Bayer AG, withdrew from some businesses in India over a cotton-seed dispute with farmers, Reuters reported in 2017. (reut.rs/2ncBknn)

(Reporting by Amit Dave in AHMEDABAD and Mayank Bhardwaj in NEW DELHI; Editing by Martin Howell and Louise Heavens)

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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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