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Polish teachers strike over pay after talks with government fail

An empty classroom is seen during teachers' strike at a primary school in Warsaw
An empty classroom is seen during teachers' strike at a primary school in Warsaw, Poland April 8, 2019. REUTERS/Kacper Pempel

April 8, 2019

WARSAW (Reuters) – Teachers across Poland held a strike on Monday after the government and unions failed to agree on proposed wage increases, the leader of the biggest teachers’ union ZNP said.

Talks between three teachers trade unions and the government ended on Sunday evening with the ZNP and another union sticking by their demand of monthly salary increase of 1,000 zlotys ($262). Only one smaller union agreed to the government’s offer of a 15 percent monthly increase starting from September.

Public sector workers in Poland stepped up calls for pay increases after the ruling Law and Justice party (PiS) promised in February a hefty increase social spending as part of its election campaign.

“Today, at 0800, starts the biggest strike in education since 1993,” ZNP leader Slawomir Broniarz told private broadcaster TVN24.

Many teachers are also unhappy with what they say has been a chaotic education reform.

“We are ready to convince the government that this strike is not only economically motivated, but that this strike is also to defend the quality of education, which has been damaged in recent years,” Broniarz said.

According to the ZNP, almost 80 percent of Polish schools and kindergartens have declared they would take part in the strike, but the union has not said how long it would last.

In March thousands of workers at Polish courts and prosecutors’ offices took to the streets of Warsaw to demand better pay and working conditions.

Teachers’ salaries in Poland range between 3,045 zlotys and 5,603 zlotys per month. Official data in February showed the average corporate salary in Poland stood at around 4,949 zlotys.

Middle school children are due to sit exams starting on Wednesday.

“We made an appeal to teachers yesterday, and let me appeal to them again. Of course, if you believe that the strike is necessary, then okay. But please, do come back to your students during the forthcoming days when there are exams,” Michal Dworczyk, the head of prime minister’s office told public radio station PR1.

(Reporting by Agnieszka Barteczko and Anna Wlodarczak-Semczuk; Editing by Raissa Kasolowsky)

Source: OANN

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Taiwan March export orders seen dropping for fifth straight month: Reuters poll

FILE PHOTO: Shipping containers are seen at Keelung port, northern Taiwan,
FILE PHOTO: Shipping containers are seen at Keelung port, northern Taiwan, March 20, 2016. . REUTERS/Tyrone Siu

April 19, 2019

TAIPEI (Reuters) – Taiwan’s export orders likely declined for a fifth month in March but at a slower pace than in the previous month, a Reuters poll showed, as a prolonged downturn in global tech demand hurts manufacturers in the trade-reliant economy.

The median forecast from the poll of 14 economists was for March export orders to drop 5.45 percent from a year earlier. Forecasts ranged from a decline of 10.3 percent to growth of 3.5 percent.

In February, Taiwan’s export orders fell 10.9 percent, the most in nearly three years due to cautious machinery orders from China as the United States-China trade dispute wears on, pointing to a further slowdown for the island’s economy.

Taiwan export orders are an indicator of demand for Asia’s hi-tech gadgets, and typically lead actual exports by two to three months.

(Poll compiled by Carol Lee; Reporting by Yimou Lee; Editing by Richard Borsuk)

Source: OANN

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Sanders team denies pushing Biden accuser story, as Biden backer says former VP is ‘ready to kill Bernie’

Members of Joe Biden's inner circle are becoming increasingly convinced the Bernie Sanders' campaign is behind at least one of the explosive accusations of physical misconduct recently leveled against the former vice president -- and, in the words of one prominent backer, Biden is now "ready to kill Bernie."

In an article on Friday, former Nevada lieutenant governor candidate Lucy Flores accused Biden of inappropriate sexual conduct during a 2014 campaign event, saying Biden "plant[ed] a big slow kiss on the back of my head."

Flores endorsed Sanders in a 2016 Facebook post, served on the board of the Sanders-aligned Our Revolution group, and campaigned publicly on his behalf. She has also appeared at a rally for Democratic presidential contender Beto O'Rourke.

PHOTOS PROVIDED BY SECOND BIDEN ACCUSER SHOW VP AT FUNDRAISER WHERE ALLEGED CONTACT OCCURED

Biden has strongly denied acting inappropriately around women. And in a dramatic, tension-raising moment, a top Democratic source openly told The Daily Beast on Tuesday that Biden's team thinks the story, which was followed by another similar account from a Connecticut woman, was "coming out of Bernie world.”

In this Sept. 9, 2012, file photo, Vice President Joe Biden talks to customers, including a woman who pulled up her chair in front of the bench Biden was sitting on, during a stop at Cruisers Diner in Seaman, Ohio. (AP Photo/Carolyn Kaster, File)

In this Sept. 9, 2012, file photo, Vice President Joe Biden talks to customers, including a woman who pulled up her chair in front of the bench Biden was sitting on, during a stop at Cruisers Diner in Seaman, Ohio. (AP Photo/Carolyn Kaster, File)

But Sanders campaign manager Faiz Shakir strongly denied any suggestion that the senator’s team or its allies were behind the Flores story, and directed Fox News to an earlier statement on the matter.

“Neither the Bernie Sanders campaign, nor anyone involved in it, planted, planned, persuaded, cajoled or otherwise urged Lucy Flores or anyone else to tell their story. Full stop, period, end of sentence. I don’t want to hear it. We didn’t play a role,” Shakir said.

“But this is why my blood boils,” he added. “We have heard through innuendo and rumors that somehow this campaign was involved in Lucy Flores telling her story, and it is deeply disrespectful and shameful that any time a woman comes forward to tell her story there has to be some kind of intimation or suggestion that that person is doing so out of some political agenda and or that the person may be lying."

CLICK TO GET THE FOX NEWS APP

Shakir continued: "We went through the Donald Trump campaign in which a number of women came forward to tell their stories and they were dismissed and criticized and ripped by the president of the United States on the highest stage of the land. We saw it with Dr. Christine Blasey Ford, that she must be a Dianne Feinstein plant. It is dismissive and disrespectful that whenever a woman comes forward the first suggestion is that there has to be a political agenda driving them.”

In his own fiery statement on Monday, a Biden spokesman pushed back on the accusations made against the vice president, saying many photos of Biden have been misinterpreted -- even according to some of the women who appear in them -- while others were blatant "smears and forgeries."

But the spokesman, Bill Russo, specifically criticizied "right-wing trolls," and left no hint he was referring to Sanders.

In response, House Speaker Nancy Pelosi signaled that Biden's issues weren't disqualifing -- even as she offered some unsolicited advice for how he can avoid ending up in any other "inappropriate" situations.

"Just pretend you have a cold," Pelosi said during a Politico event on Tuesday morning. "I’m a member of the straight-arm club. … I just pretend that you have a cold and I have a cold. Join the straight-arm club with me."

The episode wasn't the first time Sanders' team has publicly quarreled with other Democrats. Earlier this year, a top Sanders adviser called Hillary Clinton's team members among the "biggest a--holes in American politics" and said neither Clinton nor her staff were "nice people."

Fox News' Peter Doocy contributed to this report.

Source: Fox News Politics

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Georgia Democrat pushes 'testicular bill of rights' to parody ‘heartbeat’ abortion bill

A Georgia state lawmaker is drafting legislation banning vasectomies and requiring men to get permission from their sex partners before obtaining a prescription for Viagra or any erectile dysfunction medication.

The legislation would also restrict men's access to pornography and sex toys.

GEORGIA HOUSE COMMITTEE REPORTEDLY APPROVES PRO-LIFE 'HEARTBEAT' LEGISLATION, BILL SENT FOR FULL VOTE

State Rep. Dar’shun Kendrick, a Democrat, says she proposed the legislation to parody a restrictive new abortion bill, known as the 'heartbeat' bill, which was approved by the state’s House of Representatives last week. The legislation bans most abortions after a doctor can detect a heartbeat in the womb, which is usually during around 6 weeks into pregnancy.

Kendrick tweeted part of an email she sent to legislative counsel directing them to draft a bill she calls the "Testicular Bill of Rights."

“You want some regulation of bodies and choice? Done!” Kendrick tweeted Monday.

The legislation would also classify sex without a condom as "aggravated assault" and require paternity testing before 8 weeks of pregnancy as well as make it mandatory for expectant fathers to start paying child support immediately. The proposed legislation would also implement a 24-hour “waiting period” for men to purchase porn or adult toys.

GEORGIA LAWMAKER TO RESIGN AFTER YELLING RACIAL SLURS, DROPPING PANTS ON SACHA BARON COHEN SHOW 

Kendrick told Fox 5 in Atlanta the bill is designed “to show how ridiculous it is that any state government should regulate what people do to their bodies."

"Some people are going to love it and some people are going to hate it, but at the end of the day, I am a staunch, pro-choice Democrat that was elected by 54,000 people to come down there and fight for them. That's what I'm doing is fighting," said Kendrick.

CLICK HERE FOR THE FOX NEWS APP 

As for the 'heartbeat' bill, it now moves to the state Senate, which has a Republican majority.

The Associated Press contributed to this report.

Source: Fox News Politics

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New rules in Mexico may limit cash payments for real estate

FILE PHOTO: Mexico's Finance Minister Carlos Urzua speaks during a news conference to announce a plan to strengthen finances of state oil firm Pemex, at the National Palace in Mexico City
FILE PHOTO: Mexico's Finance Minister Carlos Urzua speaks during a news conference to announce a plan to strengthen finances of state oil firm Pemex, at the National Palace in Mexico City, Mexico February 15, 2019. Picture taken February 15, 2019. REUTERS/Henry Romero

March 22, 2019

ACAPULCO, Mexico (Reuters) – Mexico is developing rules that would cap the amount of cash that can used to buy real estate, Finance Minister Carlos Urzua said on Friday, part of a push to reduce the use of physical currency in a country rife with money laundering and corruption.

Urzua, speaking at a banking convention in the resort town of Acapulco, said the government was also considering rules that would require all its payments and collections to be processed electronically.

Also under discussion is the creation of incentives for professionals such as doctors, lawyers and architects to accept electronic payments over cash, he said.

Nearly 57 percent of people in Mexico work off the books, according to government data. Millions lack bank accounts and an estimated 90 percent of all transactions are done in cash.

President Andres Manuel Lopez Obrador, who took office in December, has made it one of his priorities to draw more people into the formal economy and reduce cash in circulation to cut down on the laundering of proceeds from the drug trade and other illicit activities.

(Reporting by Daina Beth Solomon in Mexico City and Dave Graham in Acapulco; Editing by Tom Brown)

Source: OANN

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Golf: McIlroy to skip Irish Open to focus on Open Championship

FILE PHOTO: PGA: Genesis Open - Final Round
FILE PHOTO: February 17, 2019; Pacific Palisades, CA, USA; Rory McIlroy hits from the twelfth hole tee box during the final round of the Genesis Open golf tournament at Riviera Country Club. Mandatory Credit: Gary A. Vasquez-USA TODAY Sports

February 21, 2019

(Reuters) – Rory McIlroy is set to skip the Irish Open at Lahinch in July to focus on the Open Championship in his native Northern Ireland later that month, the four-times major winner has said.

The Irish Open gets underway at the Old Course on July 4 while the Open, which is being held in Northern Ireland’s Royal Portrush Golf Club this year, begins on July 18.

“If there is ever a year when I feel I can miss this Irish Open, it’s this year,” McIlroy, who won the Open in 2014, told BBC.

“If I was to play the Irish Open, the Open Championship would be my third event in a row. For me, that’s not the best way to prepare for what could be the biggest event of my life.

“The people of Ireland are still going to see me playing golf because I’m going to play the Open Championship and I’m sure a lot of people will travel from down south to see me play.”

McIlroy is in the field at the WGC-Mexico Championship that begins later on Thursday.

(Reporting by Rohith Nair in Bengaluru, editing by Mitch Phillips)

Source: OANN

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Sorry J.K. Rowling, But Harry Potter Is Right-Wing

Harry Potter author J.K. Rowling is in hot water once again for her attempts to retroactively force Social Justice concepts into the beloved children’s tales.

The only problem is that the Harry Potter series, just like Lord of the Rings, Star Wars, or any other fantasy epic, is chock-full of “right-wing” morals.

TEN REASONS WHY HARRY POTTER IS RIGHT-WING:

1. The “Daily Prophet” Is The Mainstream Media

– No work of fiction has ever depicted the phenomenon of “Fake News” as well as when Harry Potter is smeared by the mainstream newspaper and must go to the alternative media to get out the truth.

2. Dumbledore’s Army Is A Militia

– When the government is turned against them, the kids of Hogwarts band together and train to defend themselves.

3. Wand Rights Are Gun Rights

– A main theme of Harry Potter is that a good guy with a wand can beat a bad guy with a wand.

4. Government Undermines Defense Against The Dark Arts

– Voldemort’s agents use education to bring down the defenses of the students and make them easier to control.

5. That Dolores Umbridge Energy

– The only person more hated than Voldemort is Dolores Umbridge, whose smug, self-satisfied evil is reflected in the spirit of the Democratic party.

6. Slytherins Seek Power Over All Else

– The group of evil wizards is obsessed with gaining power over others, which they justify by considering themselves morally superior. Sound familiar?

7. The Desire For Immortality Is The Basis Of Evil

– Voldemort’s lust for immortality is the fulfillment of Lucifer’s promise to Adam and Eve.

8. Identity Politics Are Evil

– Griffyndors are meritocratic, whereas Slytherins care most about your bloodline.

9. Dementors Use Psychological Domination To Depress Their Victims

– The prison in Harry Potter doesn’t even have doors because the Dementors use their influence to depress prisoners to the point that they are incapable of escaping.

10. Harry Is A Christ-Like Figure

– The character of Harry is self-sacrificial, humble, and courageous. Christ serves as the model for his character, much like protagonists all across the western canon.

Follow Harrison on Twitter: @HarrisonHSmith

Source: InfoWars

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FILE PHOTO: Sri Lankan Special Task Force soldiers stand guard in front of a mosque as a Muslim man walks past him during the Friday prayers at a mosque, days after a string of suicide bomb attacks on Easter Sunday, in Colombo
FILE PHOTO: Sri Lankan Special Task Force soldiers stand guard in front of a mosque as a Muslim man walks past him during the Friday prayers at a mosque, five days after a string of suicide bomb attacks on Catholic churches and luxury hotels across the island on Easter Sunday, in Colombo, Sri Lanka April 26, 2019. REUTERS/Dinuka Liyanawatte/File Photo

April 26, 2019

By Tom Lasseter and Shri Navaratnam

KATTANKUDY, Sri Lanka (Reuters) – Mohamed Hashim Mohamed Zahran was 12 years old when he began his studies at the Jamiathul Falah Arabic College. He was a nobody, with no claim to scholarship other than ambition.

Zahran and his four brothers and sisters squeezed into a two-room house with their parents in a small seaside town in eastern Sri Lanka; their father was a poor man who sold packets of food on the street and had a reputation for being a petty thief.

“His father didn’t do much,” recalled the school’s vice principal, S.M. Aliyar, laughing out loud.

The boy surprised the school with his sharp mind. For three years, Zahran practiced memorizing the Koran. Next came his studies in Islamic law. But the more he learned, the more Zahran argued that his teachers were too liberal in their reading of the holy book.

“He was against our teaching and the way we interpreted the Koran – he wanted his radical Islam,” said Aliyar. “So we kicked him out.”

Aliyar, now 73 with a long white beard, remembers the day Zahran left in 2005. “His father came and asked, ‘Where can he go?’.”

The school would hear again of Mohamed Zahran. And the world now knows his name. The Sri Lankan government has identified him as the ringleader of a group that carried out a series of Easter Sunday suicide bombings in the country on April 21.

The blasts killed more than 250 people in churches and luxury hotels, one of the deadliest-ever such attacks in South Asia. There were nine suicide bombers who blew apart men, women and children as they sat to pray or ate breakfast.

Most of the attackers were well-educated and from wealthy families, with some having been abroad to study, according to Sri Lankan officials.

That description does not, however, fit their alleged leader, a man said to be in his early 30s, who authorities say died in the slaughter. Zahran was different.

INTELLIGENCE FAILINGS

Sri Lanka’s national leadership has come under heavy criticism for failing to heed warnings from Indian intelligence services – at least three in April alone – that an attack was pending. But Zahran’s path from provincial troublemaker to alleged jihadist mastermind was marked by years of missed or ignored signals that the man with a thick beard and paunch was dangerous.

His increasingly militant brand of Islam was allowed to grow inside a marginalized minority community – barely 10 percent of the country’s roughly 20 million people are Muslim – against a backdrop of a dysfunctional developing nation.

The top official at the nation’s defense ministry resigned on Thursday, saying that some institutions under his charge had failed.

For much of his adult life, Zahran, 33, courted controversy inside the Muslim community itself.

In the internet age, that problem did not stay local. Zahran released online videos calling for jihad and threatening bloodshed.

After the blasts, Islamic State claimed credit and posted a video of Zahran, clutching an assault rifle, standing before the group’s black flag and pledging allegiance to its leader.

The precise relationship between Zahran and Islamic State is not yet known. An official with India’s security services, who spoke on condition of anonymity, said that during a raid on a suspected Islamic State cell by the National Investigation Agency earlier this year officers found copies of Zahran’s videos. The operation was in the state of Tamil Nadu, just across a thin strait of ocean from Sri Lanka.

“LIKE A SPOILED CHILD”

Back in 2005, Zahran was looking to make his way in the world. His hometown of Kattankudy is some seven hours’ drive from Colombo on the other side of the island nation, past the countless palm trees, roadside Buddha statues, cashew hawkers and an occasional lumbering elephant in the bush. It is a town of about 40,000 people, a dot on the eastern coast with no clear future for an impoverished young man who’d just been expelled.

Zahran joined a mosque in 2006, the Dharul Athar, and gained a place on its management committee. But within three years they’d had a falling out.

“He wanted to speak more independently, without taking advice from elders,” said the mosque’s imam, or spiritual leader, M.T.M. Fawaz.

Also, the young man was more conservative, Fawaz said, objecting, for instance, to women wearing bangles or earrings.

“The rest of us come together as community leaders but Zahran wanted to speak for himself,” said Fawaz, a man with broad shoulders lounging with a group of friends in a back office of the mosque after evening prayers. “He was a black sheep who broke free.”

Mohamed Yusuf Mohamed Thaufeek, a friend who met Zahran at school and later became an adherent of his, said the problems revolved around Zahran’s habit of misquoting Islamic scriptures.

The mosque’s committee banned him from preaching for three months in 2009. Zahran stormed off.

“We treated him like a spoiled child, a very narrow-minded person who was always causing some trouble,” said the head of the committee, Mohamed Ismail Mohamed Naushad, a timber supplier who shook his head at the memory.

Now on his own, Zahran began to collect a group of followers who met in what Fawaz described as “a hut”.

At about that time, Zahran, then 23, married a young girl from a small town outside the capital of Colombo and brought his bride back to Kattankudy, according to his sister, Mathaniya.

“I didn’t have much of a connection with her – she was 14,” she said.

Despite being “a bit rough-edged”, Zahran was a skilled speaker and others his age were drawn to his speeches and Koranic lessons, said Thaufeek. He traveled the countryside at times, giving his version of religious instruction as he went.

Also, Zahran had found a popular target: the town’s Sufi population, who practice a form of Islam often described a mystical, but which to conservatives is heresy.

Tensions in the area went back some years. In 2004, there was a grenade attack on a Sufi mosque and in 2006 several homes of Sufis were set afire. Announcements boomed from surrounding mosques at the time calling for a Sufi spiritual leader to be killed, said Sahlan Khalil Rahman, secretary of a trust that oversees a group of Sufi mosques.

He blamed followers of the fundamentalist Wahhabi strain of Islam that some locals say became more popular after funding from Saudi Arabia, the birthplace of Wahhabism, flowed to mosques in Kattankudy.

It was, Rahman said, an effort “to convert Sufis into Wahhabis through this terrorism”. Rahman handed over a photograph album showing charred homes, bullet holes sprayed across an office wall and a shrine’s casket upended.

ONLINE RADICAL

It was an ideal backdrop for Zahran’s bellicose delivery and apparent sense of religious destiny.

He began holding rallies, bellowing insults through loudspeakers that reverberated inside the Sufis’ house of worship as they tried to pray.

In 2012, Zahran started a mosque of his own. The Sufis were alarmed and, Rahman said, passed on complaints to both local law enforcement and eventually national government offices. No action was taken.

The then-officer in charge of Kattankudy police, Ariyabandhu Wedagedara, said in a telephone interview that he couldn’t arrest people simply because of theological differences.

     “The problem at the time was between followers of different Islamic sects – Zahran was not a major troublemaker, but he and followers of other sects, including the Sufis, were at loggerheads,” Wedagedara said.

Zahran found another megaphone: the internet. His Facebook page was taken down after the bombings, but Muslims in the area said his video clips had previously achieved notoriety.

His speeches went from denouncing Sufis to “kafirs”, or non-believers, in general. Zahran’s sister, Mathaniya, said in an interview that she thought “his ideas became more radical from listening to Islamic State views on the Internet”.

In one undated video, Zahran, in a white tunic and standing in front of an image of flames, boomed in a loud voice: “You will not have time to pick up the remains of blown-up bodies. We’ll keep sending those insulting Allah to hell.”

“HARD TO TAKE”

Zahran spoke in Tamil, making his words available to young Muslims clicking on their cellphones in Kattankudy and other towns like it during a period when, in both 2014 and 2018, reports and images spread of Sinhalese Buddhists rioting against Muslims in Sri Lanka.

In 2017, Zahran’s confrontations boiled over. At a rally near a Sufi community, his followers came wielding swords. At least one man was hacked and hospitalized. The police arrested several people connected to Zahran, including his father and one of his brothers. Zahran slipped away from public view.

That December, the mosque Zahran founded released a public notice disowning him. Thaufeek, his friend from school, is now the head. He counted the places that Zahran had been driven away from – his school, the Dharul Athar mosque and then, “we ourselves kicked him out, which would have been hard for him to take”.

The next year, a group of Buddha statues was vandalized in the town of Mawanella, about five hours drive from Kattankudy. There, in the lush mountains of Sri Lanka’s interior, Zahran had taken up temporary residence.

“He was preaching to kill people,” said A.G.M. Anees, who has served as an imam at a small mosque in the area for a decade. “This is not Islam, this is violence.”

Zahran went into hiding once more.

On the Thursday morning before the Easter Sunday bombings, Zahran’s sister-in-law knocked on the door of a neighbor who did seamstress work near Kattankudy. She handed over a parcel of fabric and asked for it to be sewn into a tunic by the end of the day.

“She said she was going on a family trip,” said the neighbor, M.H. Sithi Nazlya.

Zahran’s sister says that her parents turned off their cellphones on the Friday. On Sunday, when she visited their home, they were gone.

She does not know if Zahran arranged for them to be taken somewhere safe. Or why he would have carried out the bombing.

But now in Kattankudy, and in many other places, people are talking about Mohamed Hashim Mohamed Zahran.

(Reporting by Tom Lasseter and Shri Navaratnam; Additional reporting by Sanjeev Miglani, Shihar Aneez and Alasdair Pal; Editing by John Chalmers and Alex Richardson)

Source: OANN

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A Wells Fargo logo is seen in New York City
FILE PHOTO: A Wells Fargo logo is seen in New York City, U.S. January 10, 2017. REUTERS/Stephanie Keith

April 26, 2019

By Jessica DiNapoli and Imani Moise

NEW YORK (Reuters) – Wells Fargo & Co’s board has retained executive search firm Spencer Stuart to hunt for a new chief executive, ideally a woman who can tackle its regulatory and public perception issues, two people familiar with the matter said.

Wells Fargo’s ambition to become the only major U.S. bank with a female CEO underscores the need to restore its image with a wide range of constituents, including customers, shareholders, regulators and politicians, after it became mired in a scandal in 2016 for opening potentially millions of unauthorized accounts.

Former CEO Tim Sloan left abruptly last month, becoming the second CEO to leave the bank in the scandal’s fallout.

The board plans to approach Citigroup Inc’s Latin America chief Jane Fraser, one of the sources said. During Fraser’s 15-year tenure at Citigroup, she has gained experience running consumer and commercial businesses as well as its private bank.

Fraser could not be immediately reached for comment.

The board also discussed approaching JPMorgan Chase & Co’s Marianne Lake, but after the bank named her to run JPMorgan’s consumer lending business last week, that option became less viable, the source added. The board wants someone who can convince regulators, employees, investors and customers that the bank has fixed problems underpinning the sales scandal, the sources said.

The bank’s board feels that choosing a woman might please lawmakers in Washington who have been critical not only of Wells Fargo’s misbehavior, but of the broader banking industry for a lack of diversity and gender equality, said the sources, who spoke on the condition of anonymity.

It also believes that such a move could bolster Wells Fargo’s image with the households of customers where women play a leading role in managing finances, one of the sources added.

The new CEO will also have to resolve litigation and regulatory matters. There are 14 outstanding consent orders with government entities, as well as probes by the U.S. Securities and Exchange Commission, the Department of Labor and the Department of Justice.

To be sure, Spencer Stuart will approach and consider several male candidates for the CEO job as well, one of the sources said. The top priority is to find an external candidate who can navigate the bank’s regulatory issues, the source added.

Finding an outsider who meets all those qualifications and wants the job will be difficult, the sources said. There are few people with the necessary experience, even fewer of those who are women, and it is not clear if any of the obvious candidates would be open to taking the role.

The sources asked not to be identified because Wells Fargo’s board deliberations are confidential.

Spokespeople for Wells Fargo and Spencer Stuart declined to comment.

Wells Fargo’s board has not made any public statements about its requirements for a new CEO, beyond Chair Betsy Duke saying the job should attract the “top talent in banking.”

The board wants to complete the search within the next three to six months, one of the sources said.

STALLED SHARES

After Sloan’s ouster, Wells Fargo’s board appointed Allen Parker, who had been general counsel, as interim CEO. The board has said it is looking for an external candidate as a permanent replacement. It is not clear whether Parker will stay at the bank.

Others whose names have been mentioned by analysts, recruiters and industry sources as perspective CEO candidates include Alphabet Inc finance chief Ruth Porat and Bank of America Corp’s chief technology officer Cathy Bessant.

Wells Fargo shares have stalled since Sloan’s departure on March 29th, while the KBW Bank index has rallied more than 7 percent.

Wells Fargo would be “the best stock on earth to buy” if it had the right CEO, said Greg Donaldson, chairman of Donaldson Capital Management in Indiana.

Donaldson held about 50,000 Wells Fargo shares, but sold the stake last year as problems mounted. The CEO change could convince him to re-invest, depending on who it is, he told Reuters.

“It would be very smart for them to get a woman,” he said.

(Reporting by Jessica DiNapoli and Imani Moise in New York; Editing by Lauren Tara LaCapra, Greg Roumeliotis and Susan Thomas)

Source: OANN

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A worker walks on the roof of a new home under construction in Carlsbad
FILE PHOTO: A worker walks on the roof of a new home under construction in Carlsbad, California September 22, 2014. REUTERS/Mike Blake

April 26, 2019

NEW YORK (Reuters) – The U.S. economy is growing at a 2.08% annualized pace in the second quarter based on upbeat data on durable goods orders and new home sales in March, the New York Federal Reserve’s Nowcast model showed on Friday.

This was faster than the 1.92% growth rate calculated by the N.Y. Fed model the week before.

(Reporting by Richard Leong; Editing by Chizu Nomiyama)

Source: OANN

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Extraordinary European Union leaders summit in Brussels
FILE PHOTO: Italian Prime Minister Giuseppe Conte arrives at an extraordinary European Union leaders summit to discuss Brexit, in Brussels, Belgium April 10, 2019. REUTERS/Yves Herman

April 26, 2019

(Reuters) – Italian Prime Minister Giuseppe Conte said on Friday he had assured China’s Huawei Technologies that it would not face discrimination in the rollout of Italy’s 5G telecoms network.

Conte was speaking on a visit to China where he said he met Huawei’s chief executive, Ren Zhengfei. The prime minister’s comments were carried in Italy by TV broadcaster Sky Italia.

“I told him that we have adopted some precautions, some measures to protect our interests that demand very high levels of security … not only from Huawei but any company entering into the 5G arena,” he said.

Huawei, the world’s biggest producer of telecoms equipment, is under intense scrutiny after the United States told allies not to use its technology because of fears it could be a vehicle for Chinese spying. Huawei has categorically denied this.

(Writing by by Mark Bendeich; Editing by Angelo Amante)

Source: OANN

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U.S. President Trump departs for travel to Indianapolis from the White House in Washington
U.S. President Donald Trump talks to reporters as he departs for travel to Indianapolis, Indiana from the White House in Washington, U.S., April 26, 2019. REUTERS/Jonathan Ernst

April 26, 2019

WASHINGTON (Reuters) – President Donald Trump on Friday was expected to announce his intention to revoke the United States’ status as a signatory of the Arms Trade Treaty, which was signed in 2013 by then-President Barack Obama but never ratified by Congress, two U.S. officials said.

Trump was expected to announce the decision in a speech in Indianapolis, to the National Rifle Association, the officials said. The NRA, a powerful gun lobby group, has long been opposed to the treaty, which was negotiated at the United Nations.

(Reporting By Steve Holland; Editing by Bill Trott)

Source: OANN

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