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EU tightens rules on London-based investment firms

People walk through the Canary Wharf financial district of London
People walk through the Canary Wharf financial district of London, Britain, December 7, 2018. REUTERS/Simon Dawson

February 27, 2019

BRUSSELS (Reuters) – European Union governments and lawmakers have reached a deal on tighter supervision of investment firms that offer “bank-like” services, including proprietary trading and underwriting of financial instruments.

The deal, reached late on Tuesday and which confirms an agreement in January by EU states, will boost the European Commission’s powers in overseeing foreign financial firms operating in the EU, giving Brussels more clout over London-based financial firms after Britain leaves the EU.

The overhaul also imposes stricter liquidity and capital requirements to large EU investment firms, tightening an initial proposal put forward by the European Commission in December 2017.

“The agreement further strengthens the equivalence regime that would apply to third country investment firms,” the EU said in a statement, adding more powers would be given to the Commission to assess whether foreign rules are compatible with EU regulations.

More than half of the 6,000 European investment firms, including U.S. giants Goldman Sachs and JPMorgan, have their EU headquarters in Britain, although many have started setting up continental subsidiaries to ensure they can continue to serve clients after Brexit.

Under the new rules, that require a final rubber stamp by the European Parliament and the EU Council, the Commission would assess whether foreign investment firms operate as banks. In that case they would be subject to stricter conditions, especially if they are deemed “of systemic importance”.

The agreement “levels the playing field between the largest investment firms and the largest banks; they will follow the same rules,” the Commission’s vice-president in charge of investment and growth, Jyrki Katainen, said in a statement.

Under the reform, EU legislators also agreed to halve a threshold for the automatic application of the strictest capital and liquidity rules for EU-based firms, which the Commission had initially proposed would only apply to financial companies with assets above 30 billion euros.

As a result, investment firms with assets of 15 billion euros ($17 billion) or more would automatically be subject to the same requirements as large banks, while firms with assets between 5 and 15 billion euros could face lighter requirements unless their activities are seen to pose risks to financial stability, an EU statement said.

Other smaller firms would face a lighter prudential regime.

(Reporting by Francesco Guarascio; Editing by Janet Lawrence)

Source: OANN

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Missing pregnant Chicago woman due to give birth this week months after she mysteriously vanished

Kierra Coles likely would have spent the last several months going about her typical routine, delivering letters along her Chicago postal route -- until a probable pause this week for another scheduled delivery: her baby's.

But the Tuesday due date doctors predicted passed with no news, much like the previous seven months had since the day, Oct. 2, when the 27-year-old vanished.

Her disappearance, which was reported two days later by her mother, raised plenty of questions.

Coles had reportedly called out sick from her U.S. Postal Service letter carrier job on Oct. 2 -- but investigators spotted her on video that day leaving her apartment and wearing her uniform. She was also seen on surveillance footage from a neighbor's home.

And then nothing.

Chicago Police, who released this image of Kierra Coles, suspect 'foul play' in her disappearance.

Chicago Police, who released this image of Kierra Coles, suspect 'foul play' in her disappearance. (Chicago Police Department)

Authorities discovered her cellphone was in her car, which was parked near her apartment, but the public learned little else.

A massive search ensued and, now nearly seven months later, her family is left holding on to hope that Coles -- and her baby – are still alive.

“All I can do is keep hope alive. I take my grandkids, we pass out flyers every day. We don’t miss a day,” Coles’ father, Joseph Coles, told the Chicago Sun-Times.

BODY OF MISSING FIVE-YEAR-OLD BOY FOUND IN SHALLOW GRAVE, PARENTS CHARGED WITH MURDER

Chicago police said two weeks after Coles went missing that they suspect possible foul play, but did not elaborate further.

Police told FOX32 they have “two or three people of interest” and a good idea of what may have happened to Coles, but authorities apparently didn't yet have the hard evidence to build their case. Though officials continue the work, there have been no other updates on the investigation.

POLICE RELEASE FOOTAGE OF AURORA, ILLINOIS WAREHOUSE SHOOTING

Coles is described as 5-4 and 125 pounds, with a “Lucky Libra” tattoo on her back and a heart tattoo on her hand.

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Source: Fox News National

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Dershowitz: Mueller Report Sets Up Comey-Clinton Situation

Special counsel Robert Mueller's conclusion there was no collusion between the Russian government and President Donald Trump's campaign – while referring the question of criminal charges of obstruction of justice to Attorney General William Barr – is a setup for another James Comey-Hillary Clinton situation, Harvard Law professor Alan Dershowitz said Monday.

"[Former FBI Director] Comey said on the one hand, I'm not going to indict Clinton," Dershowitz told Fox News' "Fox & Friends." "On the other hand, [Comey said] what she did was terrible. So, the Democrats got something out of it. The Republicans got something out of it. The same thing is true here."

Meanwhile, Mueller wanted to "hedge his bets" and that is not what a prosecutor should do, Dershowitz said.

"They are supposed to decide up or down, indict or not indict, and then shut up," he said. "That's it. Move on."

Deputy Attorney General Rod Rosenstein should not be making any decision on whether obstruction of justice occurred in connection with Comey's firing, Dershowitz said, because he has his own interests in play because he was involved.

There is no case for obstruction to be made against Trump, he added, because "you can't obstruct justice if you engage in your constitutionally authorized acts, firing, pardoning, helping the Justice Department make decisions. That should have been the end of the inquiry."

Dershowitz also said he thinks the media owes the American public an apology for engaging in "advocacy journalism" while reporting on the president and the Mueller probe.

Source: NewsMax America

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Missouri man who toppled more than 100 headstones at Jewish cemetery gets probation

A Missouri man was sentenced to three years of probation Thursday for toppling more than 100 headstones at a Jewish cemetery in St. Louis in February 2017, which resulted in $30,000 worth of damages.

Alzado Harris, 35, of Northwoods was also ordered to pay $5,000 in restitution after admitting to police he was drunk, on drugs and angry at a friend when he knocked over about 120 headstones at Chesed Shel Emeth Cemetery in University City, about 9 miles west of St. Louis.

Vice President Pence visited the cemetery shortly after the crime, which happened during a time when Jewish organizations around the country were receiving bomb threats, the Jewish Telegraphic Agency reported.

Prosecutors said Thursday there was no evidence suggesting Harris’ actions were anti-Semitic in nature. Statistics released by the Anti-Defamation League (ADL) indicted a nearly 60 percent rise in anti-Semitism in the United States in 2017.

FIFTY-NINE GRAVESTONES VANDALIZED AT MASSACHUSETTS JEWISH CEMETERY

“There is no evidence to indicate the incident was racially, ethnically or religiously motivated,” University City police said in a statement shortly after Harris’ arrest in 2017. Harris was linked to the crime through DNA found on a discarded jacket. The DNA matched a sample Harris provided in the investigation of another burglary.

Harris, who was found guilty of felony institutional vandalism, was not charged with bias or hate crime. Other than probation and paying a fine, he also must work full time, take an anger management course, and not contact the victim, according to court records.

The number of anti-Semitic attacks, including physical assaults, vandalism, and attacks on Jewish institutions, rose by 57 percent from 2016 to 2017, the ADL reported. The ADL, which is an international Jewish non-governmental organization based in the U.S., cited 1,986 anti-Semitic incidents across the country in 2017, compared to 1,267 incidents in 2016.

Eric Greitens, who is Jewish and was Missouri’s governor at the time of the incident, spent time volunteering with members of his staff at Chesed Shel Emeth to clean up the damaged headstones. The local Jewish Federation also donated $250,000 for upgraded security measures, including cameras, lighting and higher fencing at Chesed Shel Emeth and other Jewish cemeteries in the area.

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Activists Linda Sarsour and Tarek El-Messidi raised more than $162,000 through a crowdfunding campaign that contributed to damage repairs at Chesed Shel Emeth Cemetery, two other vandalized U.S. Jewish cemeteries and a vandalized synagogue, the Jewish Telegraphic Agency reported.

Chesed Shel Emeth Cemetery was rededicated in August 2017.

The Associated Press contributed to this report. 

Source: Fox News National

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The Latest: 10 dead in blast at restaurant in Somali capital

The Latest on explosion in Somalia's capital (all times local):

2:55 p.m.

Police say at least 10 people have been killed and seven others wounded in a car bomb blast outside a restaurant in Somalia's capital, Mogadishu.

Capt. Mohamed Hussein tells The Associated Press that most of the casualties were among people who were dining at the crowded restaurant.

The al-Qaida-linked al-Shabab extremist group often targets high-profile areas in Mogadishu with suicide bombings.

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2 p.m.

A Somali police officer says an explosives-laden vehicle has detonated outside a restaurant in Somalia's capital, Mogadishu.

Capt. Mohamed Hussein says the blast occurred as the restaurant in Waberi district was crowded with diners.

There is no immediate word of casualties.

The al-Qaida-linked al-Shabab extremist group often targets high-profile areas in Mogadishu with suicide bombings.

Source: Fox News World

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Rep. Woodall: Dems Trying to ‘Weaponize’ Tax Code Against Trump

Rep. Rob Woodall, R-Ga., said Democrats' request for President Donald Trump’s tax returns is an attempt “to weaponize” the tax code.

Woodall made his comments during a Thursday interview for Hill-TV.

“We’re politicizing the tax system,” Woodall said. “Presidents have never been forced to release it, they volunteered to release those tax returns.

“To see what the Ways and Means Committee is doing, now to use its Article 1 power to weaponize the tax code is really disturbing.”

Rep. Richard Neal, D-Mass., chairman of the Ways and Means Committee, has asked the Internal Revenue Service for six years of Trump’s personal and business tax returns.

But Woodall said he hoped the push for the president’s tax return will subside.

“I hope it’s just a sign of this first quarter outrage and that we’ll quickly move past that and get into the things the Ways and Means Committee needs to be working on like trade, like tax policies, like healthcare,” he said.

Source: NewsMax Politics

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Environment emerges as major issue for Australian voters

FILE PHOTO - A man runs across a hill in front of the Sydney city skyline under a smoke tinted sky at daybreak
FILE PHOTO - A man runs across a hill in front of the Sydney city skyline under a smoke tinted sky at daybreak September 5, 2012. REUTERS/Tim Wimborne

April 21, 2019

MELBOURNE (Reuters) – The environment has emerged as a major issue for Australian voters, a poll showed on Sunday, but healthcare and the cost of living are the top concerns ahead of next month’s elections.

For 32 percent of Australians, access to affordable health services is the biggest worry, followed by the cost of living at 31 percent and crime at 25 percent, according to the Ipsos Issues Monitor, cited by the Sydney Morning Herald.

But the monitor, Australia’s longest running survey of community concerns, found that 23 percent of respondents cited the environment as one of their biggest concerns, making it the fourth top issue.

At the last federal election in 2016, the environment ranked ninth at 14 percent.

“Now there is a real momentum around it,” the newspaper cited Ipsos social researcher Daniel Evans as saying.

According to government agencies and environmental organizations, Australians are paying increasingly more attention to climate change, renewable energy, drought, environmental regulation and protection of natural habitats, such as the Great Barrier Reef, under threat from global warming.

Two-thirds of Australians believe their country is already being affected by climate change and 46 percent agree that the change is “entirely or mainly” caused by human action, an annual climate survey issued by Ipsos this month suggested.

Australia’s A$1.87 trillion ($1.3 trillion) economy is slowing, but the number of voters for whom it is a major worry has fallen since the last election to 23 percent from 30 percent. It ranked as the fifth major concern in this month’s poll.

Australians vote on May 18, with opinion polls showing Bill Shorten’s center-left opposition Labor party well ahead and the coalition of Prime Minister Scott Morrison’s Liberals and the rural-focused Nationals heading for a resounding defeat.

(Reporting by Lidia Kelly; Editing by Nick Macfie)

Source: OANN

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FILE PHOTO: The Huawei logo is pictured outside its Huawei's factory campus in Dongguan, Guangdong province
FILE PHOTO: The Huawei logo is pictured outside its Huawei’s factory campus in Dongguan, Guangdong province, China, March 25, 2019. REUTERS/Tyrone Siu/File Photo

April 26, 2019

By Ben Blanchard

BEIJING (Reuters) – Britain must get to the bottom of the leak of confidential discussions during a top-level security meeting about the role of China’s Huawei Technologies in 5G network supply chains, British finance minister Philip Hammond said on Friday.

News that Britain’s National Security Council, attended by senior ministers and spy chiefs, had agreed on Tuesday to bar Huawei from all core parts of the country’s 5G network and restrict its access to non-core elements was leaked to a national newspaper.

The leak of secret discussions has sparked anger in parliament and amongst Britain’s intelligence community. Britain’s most senior civil servant Mark Sedwill has launched an inquiry and written to ministers who were at the meeting.

“My understanding from London (is) that an investigation has been announced into apparent leaks from the NSC meeting earlier this week,” said Hammond, speaking on the sidelines of a summit on China’s Belt and Road initiative in Beijing.

“To my knowledge there has never been a leak from a National Security Council meeting before and therefore I think it is very important that we get to the bottom of what happened here,” he told Reuters in a pooled interview.

British culture minister Jeremy Wright said on Thursday he could not rule out a criminal investigation. The majority of the ministers at the NSC meeting have said they were not involved, according to media reports.

Hammond said he was unaware of any previous leak from a meeting of the NSC.

“It’s not about the substance of what was apparently leaked. It’s not earth-shattering information. But it is important that we protect the principle that nothing that goes on in national security council meetings must ever be repeated outside the room.”

Allowing Huawei a reduced role in building its 5G network puts Britain at odds with the United States which has told allies not to use its technology at all because of fears it could be a vehicle for Chinese spying. Huawei has categorically denied this.

There have been concerns that the NSC’s conclusion, which sources confirmed to Reuters, could upset other allies in the world’s leading intelligence-sharing network – the Five Eyes alliance of the United States, Britain, Australia, Canada and New Zealand.

However, British ministers and intelligence officials have said any final decision on 5G would not put critical national infrastructure at risk. Ciaran Martin, head of the cyber center of Britain’s main eavesdropping agency, GCHQ, played down any threat of a rift in the Five Eyes alliance.

(Writing by Michael Holden; Editing by Mark Heinrich)

Source: OANN

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Park Yoo-chun, a K-pop idol singer, arrives at the Suwon district court in Suwon
Park Yoo-chun, a K-pop idol singer, arrives at the Suwon district court in Suwon, South Korea, April 26, 2019. REUTERS/Kim Hong-Ji

April 26, 2019

SEOUL (Reuters) – K-pop and drama star Park Yu-chun was arrested on Friday on charges of buying and using illegal drugs, a court said, the latest in a series of scandals to hit the South Korean entertainment business.

Suwon District Court approved the arrest warrant for Park, 32, due to concerns over possible destruction of evidence and flight risk, a court spokesman told Reuters.

Park is suspected of having bought about 1.5 grams of methamphetamine with his former girlfriend earlier this year and using the drug around five times, an official at the Gyeonggi Nambu Provincial Police Agency said.

Park has denied wrongdoing, saying he had never taken drugs, and he again denied the charges in court, Yonhap news agency said.

Park’s contract with his management agency had been canceled and he would leave the entertainment industry, Park’s management agency, C-JeS Entertainment, said on Wednesday.

Park was a member of boyband TVXQ between 2003 and 2009 before leaving the group with two other members, forming the group JYJ.

A scandal involving sex tapes, prostitutes and secret chat about rape led at least four other K-pop stars to quit the industry earlier this year.

The cases sparked a nationwide drugs bust and investigations into tax evasion and police collusion at night clubs and other nightlife spots.

(Reporting by Joyce Lee; Additional reporting by Heekyong Yang; Editing by Nick Macfie)

Source: OANN

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FILE PHOTO: An American Airlines Boeing 737 MAX 8 flight taxis after landing at Reagan National Airport in Washington
FILE PHOTO: An American Airlines Boeing 737 MAX 8 flight from Los Angeles taxis after landing at Reagan National Airport shortly after an announcement was made by the FAA that the planes were being grounded by the United States over safety issues in Washington, U.S. March 13, 2019. REUTERS/Joshua Roberts/File Photo

April 26, 2019

(Reuters) – American Airlines Group Inc cut its 2019 profit forecast on Friday, saying it expected to take a $350 million hit from the grounding of Boeing’s 737 MAX planes after cancelling 1,200 flights in the first quarter.

The company said it now expects its 2019 adjusted profit to be between $4.00 per share and $6.00 per share.

Analysts on average had expected 2019 earnings of $5.63 per share, according to Refinitiv data.

The No. 1 U.S. airline by passenger traffic said net income rose to $185 million, or 41 cents per share, in the first quarter ended March 31, from $159 million, or 34 cents per share, a year earlier.

Total operating revenue rose 2 percent to $10.58 billion.

(Reporting by Sanjana Shivdas in Bengaluru)

Source: OANN

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2020 Democratic presidential candidate Pete Buttigieg speaks at a campaign event in Des Moines, Iowa
2020 Democratic presidential candidate Pete Buttigieg speaks at a campaign event in Des Moines, Iowa, U.S., April 16, 2019. REUTERS/Elijah Nouvelage

April 26, 2019

By James Oliphant

MARSHALLTOWN, Iowa (Reuters) – Four years ago, Donald Trump campaigned in small towns like Marshalltown, Iowa, vowing to restore economic prosperity to the U.S. heartland.

In his bid to replace Trump in the White House, Pete Buttigieg is taking a similar tack. The difference, he says, is that he can point to a model of success: South Bend, Indiana, the revitalized city where he has been mayor since 2012.

The Democratic presidential contender has vaulted to the congested field’s top tier in recent weeks, drawing media and donor attention for his youth, history-making status as the first openly gay major presidential candidate and a resume that includes military service in Afghanistan.

But Buttigieg’s main argument for his candidacy is that he is a turnaround artist in the mold of Trump, although the Democrat does not expressly invoke the comparison with the Republican president.

“I’m not going around saying we’ve fixed every problem we’ve got,” Buttigieg, 37, said after a house party with voters in Marshalltown. “But I’m proud of what we have done together, and I think it’s a very powerful story.”

Critics argue improving the fortunes of a Midwestern city of 100,000 people does not qualify Buttigieg, who has never held national office, for the presidency of a country of 330 million. Others say South Bend still has pockets of despair and that minorities, in particular, have failed to benefit from its growth.

Buttigieg has told crowds in Iowa and elsewhere that his experience in reviving a struggling Rust Belt community allows him to make a case to voters that other Democratic candidates cannot. That may give him the means to win back some of the disaffected Democratic voters who turned their backs on Hillary Clinton in 2016 to vote for Trump.

Watching Buttigieg at a union hall in Des Moines last week, Rick Ryan, 45, a member of the United Steelworkers, lamented how many of his fellow union workers voted for Trump. The president turned in the best performance by a Republican among union households since Ronald Reagan in 1984.

Ryan said he hoped someone like Buttigieg could return them to the Democratic fold.

“He’s aware of the decline in the labor force in America, not just in Indiana or Des Moines or anywhere else,” Ryan said. “Jobs are going overseas. We need a find to way to bring that back.”

Randy Tucker, 56, of Pleasant Hill, Iowa, a member of the International Brotherhood of Electrical Workers, said Trump appealed to union members “desperate for somebody to reach out to them, to help them, to listen to their voice.”

Buttigieg could do the same, he said. “In my heart right now, he’s No. 1.”

PAST VS. FUTURE

Buttigieg stresses a key difference in his and Trump’s approaches.

Trump, he tells crowds, is mired in the past, promising to rebuild the 20th century industrial economy. Buttigieg argues the pledge is misleading and unrealistic.

Buttigieg says his focus is on the future, and he often talks about what the country might look like decades from now.

“The only way that we can cultivate what makes America great is to look to the future and not be afraid of it,” Buttigieg said in Marshalltown.

Buttigieg knows his sexual preference may be a barrier to winning some blue-collar voters. But he notes that after he came out as gay in 2015, he won a second term as mayor with 80 percent of the vote in conservative Indiana.

Earlier this month, he announced his presidential bid at the hulking plant in South Bend that stopped making Studebaker autos more than 50 years ago. After lying dormant for decades, the building is being transformed into a high-tech hub after Buttigieg and other city leaders realized it would never again attract a large-scale industrial company.

“That building sat as a powerful reminder. We hoped we would get back that major employer that would fix our economy,” said Jeff Rea, president of the regional Chamber of Commerce.

Buttigieg is praised locally for spurring more than $100 million in downtown investment. During his two terms, unemployment has fallen to 4.1 percent from 11.8 percent.

But a study released in 2017 by the nonprofit group Prosperity Now said not all of the city’s residents had shared in its rebound. The median income for African-Americans remained half that of whites, while the unemployment rate for blacks was double.

Regina Williams-Preston, a city councilor running to replace Buttigieg as mayor, credits him for the revitalized downtown. But she said he had a “blind spot” when it came to focusing on troubled neighborhoods like the one she represents and only grew more engaged after community pressure.

“He understands it now,” she said. “The next step is figuring out how to open the doors of opportunity for everyone.”

‘ONE OF US’

Trump touts the fact that the United States added almost 300,000 manufacturing jobs last year as evidence he made good on his promise to restore the industrial sector. But that growth still left the country with fewer manufacturing jobs than in 2008.

The robust U.S. economy is likely the president’s greatest asset in his re-election bid, particularly in states he carried in 2016 such as Iowa, Wisconsin, Michigan and Pennsylvania. He won Buttigieg’s home state by 19 points over Clinton in 2016.

Sean Bagniewski, chairman of the Democratic Party in Polk County, Iowa, said Buttigieg would be well positioned to compete with Trump in the Midwest.

“People love the fact that he’s a mayor,” said Bagniewski, who has not endorsed a candidate in the nominating contest. “If you can talk about a positive future, and if you actually have experience that can do it, that’s a compelling vision in Iowa.”

Nan Whaley, the mayor of Dayton, Ohio, which faces many of the same challenges as South Bend, agreed.

“He’s one of us,” Whaley said. “That helps.”

(Reporting by James Oliphant; Editing by Colleen Jenkins and Peter Cooney)

Source: OANN

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A man looks out at a flooded residential area in Gatineau
A man looks out at a flooded residential area in Gatineau, Quebec, Canada, April 24, 2019. REUTERS/Chris Wattie

April 26, 2019

MONTREAL/OTTAWA (Reuters) – Rising waters were prompting further evacuations in central Canada on Thursday, with the mayor of the country’s capital, Ottawa, declaring a state of emergency and Quebec authorities warning that a hydroelectric dam was at risk of breaking.

Ottawa Mayor Jim Watson declared the emergency in response to rising water levels along the Ottawa River and weather forecasts that called for significant rainfall on Friday.

In a statement on Twitter, Watson asked for help from the Ontario provincial government and the country’s military.

He warned that “flood levels are currently forecasted to exceed the levels that caused significant damage to numerous properties in the city of Ottawa in 2017.”

Spring flooding had killed one person and forced more than 900 people from their homes in Canada’s Quebec province as of 1 p.m. on Thursday, according to a government website.

Ottawa has received 80 requests for service related to potential flooding such as sandbagging, a city spokeswoman said.

The prospect of more rain over the next 24 to 48 hours triggered concerns on Thursday that the hydroelectric dam at Bell Falls in the western part of Quebec could be at risk of failing because of rising water levels.

Quebec’s provincial police said 250 people were protectively removed from homes in the area as of late afternoon in case the dam on the Rouge River breaks.

The dam is now at its full flow capacity of 980 cubic meters per second of water, said Francis Labbé, a spokesman for the province’s state-owned utility, Hydro Quebec. He said Hydro Quebec expected the flow could rise to 1,200 cubic meters per second of water over the next two days.

“We have to take the worst-case scenario into consideration, since we`re already at the maximum capacity,” Labbé said by phone.

The dam is part of a power station that no longer produces electricity, but is regularly inspected by Hydro Quebec, he said.

(Reporting by Allison Lampert in Montreal and David Ljunggren and Julie Gordon in Ottawa; Editing by James Dalgleish and Peter Cooney)

Source: OANN

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