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WTA roundup: Keys stops Stephens in Charleston

Tennis: BNP Paribas Open-Day 6
FILE PHOTO: Mar 9, 2019; Indian Wells, CA, USA; Madison Keys (USA) during her second round match against Mona Barthel (not pictured) in the BNP Paribas Open at the Indian Wells Tennis Garden. Mandatory Credit: Jayne Kamin-Oncea-USA TODAY Sports

April 6, 2019

The stakes weren’t nearly as high, but Madison Keys finally got a win against Sloane Stephens, who beat her in the 2017 U.S. Open final.

Keys, the eighth seed, emerged with a 7-6 (6), 4-6, 6-2 victory Friday over top-seeded Stephens in an all-American quarterfinal at the Volvo Car Open in Charleston, S.C. It was Keys’ first win in four career meetings with Stephens.

Keys advances to a semifinal matchup with Puerto Rico’s Monica Puig, who routed 11th-seeded American Danielle Collins 6-3, 6-2 on the clay.

The other semifinal will feature fifth-seeded Dane Caroline Wozniacki and 16th-seeded Croatian Petra Martic. Wozniacki cruised past 15th-seeded Maria Sakkari of Greece 6-2, 6-2, and Martic topped ninth-seeded Belinda Bencic of Switzerland 6-3, 6-4.

Abierto GNP Segueros

Second-seeded Garbine Muguruza of Spain advanced to the semifinals at Monterrey, Mexico, beating seventh-seeded Kristina Mladenovic of France 6-1, 7-6 (5) in a match that featured an usual set.

Mladenovic lost each of her final three service games in the first set, and then Muguruza lost her serving touch in the second set, too. The second set featured eight service breaks, and a whopping 21 break points, before Muguruza ultimately won in a tiebreaker.

Muguruza’s semifinal opponent will be eighth-seeded Slovakian Magdalena Rybarikova, who beat American Sachia Vickery 6-4, 6-4.

The other two quarterfinal matches were scheduled for Friday night: top-seeded Angelique Kerber of Germany against No. 6 Kirsten Flipkens of Belgium, and fifth-seeded Victoria Azarenka of Belarus against No. 3 Anastasia Pavlyuchenkova of Russia.

–Field Level Media

Source: OANN

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Salvini advisor under investigation for alleged corruption: judicial sources

Salvini launches the start of his campaign for the European elections, in Milan
Matteo Salvini, Italy's Deputy Prime Minister and leader of the far-right League Party, speaks as he launches the start of his campaign for the European elections, in Milan, Italy April 8, 2019. REUTERS/Alessandro Garofalo

April 18, 2019

ROME (Reuters) – Italian prosecutors have opened an investigation into corruption allegations against a junior transport minister who serves as economic adviser to Deputy Prime Minister Matteo Salvini, judicial sources said on Thursday.

Armando Siri, a prominent member of the right-wing League party, is suspected by prosecutors of taking bribes to help companies operating in the renewable energy sector, the sources said.

Siri did not respond to requests from Reuters for comment, but was quoted by Italian newspapers as denying all wrongdoing.

The League acknowledged the investigation although it has not been officially confirmed.

“We have full confidence in Armando Siri. We hope that the investigation will be quick and leaves no shadow”, the League said in a statement.

However, 5-Star took a different stance, potentially opening up a new division in the often fractious coalition.

“If the facts were to be confirmed, it is clear that undersecretary Siri should resign from the government”, Deputy Prime Minister and 5-Star leader Luigi Di Maio said.

The investigation is led by Rome and Palermo prosecutors and concerns Siri and nine other people.

Siri is a vocal supporter of expensive tax cuts which are part of the coalition pact between the League and the anti-establishment 5-Star Movement.

In 2014, he plea-bargained a prison sentence for the fraudulent bankruptcy of a company he was president of.

(Reporting by Domenico Lusi; writing by Angelo Amante and Francesca Piscioneri, editing by Gavin Jones and Raissa Kasolowsky)

Source: OANN

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Co-owner of business where 4 slain says she has no clue why

The co-owner of a North Dakota business where four people including her husband were slain says she and others don't know why the suspect would target anyone at the company.

Chad Isaak, 44, a chiropractor in Washburn, faces four felony counts of murder in the April 1 deaths of RJR Maintenance and Management co-owner Robert Fakler and three workers in Mandan, a town of 22,000 near the state capital of Bismarck. Isaak lived on property managed by the company, but police have said that while they have plenty of evidence — spent shell casings, a knife and gun parts — they still haven't identified a motive. That was still the case as of Monday, Deputy Chief Lori Flaten said.

Jackie Fakler said RJR officials had few interactions with Isaak, who lived in a mobile home park the company had begun managing just last June. Marketing executive Ben Pace called those few interactions "all very normal."

Fakler said rumors that RJR was raising Isaak's rent or had ordered him to get rid of his dog are false.

"I don't think anything could make sense out of it, no matter what," she said.

Robert Fakler, 52, and employees Adam Fuehrer, 42, and married co-workers Lois Cobb, 45, and William "Bill" Cobb, 50, were shot or stabbed to death before the business opened that Monday. Jackie Fakler said the four victims typically came to work early. It also wasn't uncommon to have an unlocked door while there were workers on the premises.

"This is like home to a lot of people, and it's like being at home and leaving your front door unlocked while you're home," Pace said.

The victims were in different areas of the building and were killed within 13 minutes, according to Fakler. The Cobbs were in the office area; Fakler and Fuehrer in the back shop area.

Police followed evidence from surveillance video at RJR and other businesses to arrest Isaak three days after the slayings. Court documents allege Isaak took one of the company's vehicles, drove about a block, then walked to his own truck parked in the area. Fakler said it wasn't unusual for Bill Cobb to leave a company truck running with the keys in it.

"(Police) got a lot of footage everywhere," she said. "I think they were able to track (Isaak) from here to him leaving town."

After Isaak got back to Washburn, about 35 miles (56 kilometers) north of Mandan, he allegedly went back to work at his chiropractor office. A client of his, Dora Sorenson, has said Isaak "didn't appear any different."

Fakler said, "It doesn't make sense how anybody could walk away, go to work. None of it makes sense."

She and Pace credited police with making a quick arrest but said they are not privy to much more information than the public. Fakler said she's relieved with the arrest "but then now you're flooded with all the questions — why? What could have been so horrible that he had to take four people's lives?"

Isaak remains jailed on $1 million bond. He hasn't responded to interview requests and doesn't yet have an attorney listed to represent him. He could enter pleas at a May 14 hearing.

Isaak could face life without parole if convicted. North Dakota doesn't have the death penalty.

___

Follow Blake Nicholson on Twitter at: http://twitter.com/NicholsonBlake

Source: Fox News National

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Kosovo women returned from Syria face house arrest

Kosovo prosecutors have requested the house arrest of 16 women repatriated from Syria, saying they are suspected of joining or taking part as foreign fighters there.

The women appeared Wednesday in court in Pristina, a day after 10 other women were put under house arrest. None have been charged with a crime.

Four alleged fighters, all men, were arrested the moment they were brought to the country.

On Saturday, 110 Kosovar citizens — the four alleged foreign fighters, 32 women and 74 children — were returned to Kosovo with assistance from the United States, the first such move for a European country.

Authorities say there are still 87 Kosovar citizens in Syria.

Source: Fox News World

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War Room – 2019-Mar-20, Wednesday – The Real Mueller Story Is Not Russia Probe But Pedogate

Major breaking news is going uncovered as the lose ends of Jeffrey Epstein plea deal are being pulled on and anonymous names are trying to keep them tied. Tommy Sotomayor joins us to talk the war on masculity and how it is destroying the family. Laura Loomer also joins to talk #StopTheBias.

GUEST // (OTP/Skype) // TOPICS:
Laura Loomer//OTP
Tommy Sotomayor//Skype

Source: The War Room

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Late goal lifts FC Dallas past Rapids

MLS: Colorado Rapids at FC Dallas
Mar 23, 2019; Frisco, TX, USA; Colorado Rapids goalkeeper Tim Howard (1) makes a save with FC Dallas midfielder Ryan Hollingshead (12) challenging during the second half at Toyota Park. Mandatory Credit: Andrew Dieb-USA TODAY Sports

March 24, 2019

Ryan Hollingshead scored the tiebreaking goal off a rebound in the 82nd minute, and FC Dallas held on to beat the visiting Colorado Rapids 2-1 on Saturday at Frisco, Texas.

What began with a pass into the box from 17-year-old Thomas Roberts ended when Hollingshead drove home a rebound of a Tim Howard save. The late goal improved FC Dallas to 2-1-1 on the young season.

It also came after Colorado (0-2-2) equalized in the 69th minute. Off a set piece, the Rapids’ Kei Kamara put a header off the crossbar. A sliding Tommy Smith got the rebound off his leg, and just over the goal line and into the body of Dallas keeper Jesse Gonzalez.

However, the initial call on the pitch was no goal, but after video review, the Rapids were awarded the goal. It looked like they would earn at least a point on the day, until Dallas responded.

Both sides were minus key players due to internationals duties. Colorado was without key forward Diego Rubio, while FC Dallas did not have starting midfielders Carlos Gruezo and Bryan Acosta. That forced Dallas to start five home-grown players.

Gonzalez, though, surprisingly featured in between responsibilities with the U.S. men’s national squad.

However, youth did not seem to hinder Dallas, which came out of the gate firing. The hosts had the first quality chance of the game when Dominique Badji hit the right post off a set-piece in the third minute. Two minutes later, Paxton Pomykal had his 6-yard attempt blocked.

It would be Michael Barrios, though, who broke through for his second goal of the season in the 35th minute for Dallas. After some nifty passing across the box, Barrios cross-footed a ground strike to the near post and past a diving Howard for the 1-0 lead.

Dallas held a 6-4 advantage in shots on target.

–Field Level Media

Source: OANN

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Key bond market recession signal seen postponed to next year: Reuters poll

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

April 3, 2019

By Hari Kishan

BENGALURU (Reuters) – The U.S. Federal Reserve’s dovish turn has probably delayed the arrival of a key bond market recession indicator to 2020, a bit later than predicted three months ago, according to the latest Reuters poll of bond strategists.

Only about one-fifth of those answering an additional question expected the gap between U.S. 2-year and 10-year note yields to invert within the next six months, compared to over one-third in the previous poll.

The curve is said to be inverted when shorter-dated maturities yield more than longer-dated bonds, an occurrence in markets which has preceded almost every economic recession since World War Two.

While the recent move in bond markets was driven by a sudden change in rate expectations from the Federal Reserve – it has signaled no more rate rises this year – a majority said a 2s-10s yield inversion will happen within a year.

Indeed, the gap between U.S. 3-month bill rates and 10-year Treasury yields, which is closely watched by the Fed and increasingly so by market participants, has already inverted.

“There is always a lag between the yield curve inverting and the U.S. going into recession, and it is unlikely to be any different this time,” said Alan McQuaid, chief economist at Merrion Capital.

Nearly 60 percent of respondents to a separate question also expected the U.S. economy to enter a recession within the next two years, not very different from the previous poll. That lines up roughly with recent Reuters surveys of economists. [ECILT/US]

But not everyone is convinced a U.S. recession is right around the corner.

“The markets are acting as if the Fed’s new patient, dovish stance is the harbinger of a recession,” noted rate strategists at Morgan Stanley, who argued the recent decline in yields would underpin the economy and spell better days ahead.

“If the yield curve inversion persists and looks like it might be generating enough concern about a recession that it does indeed become self-fulfilling, the (Fed) may need to consider whether its balance sheet plan is flattening the yield curve in a risky way.”

Treasury yields broadly in the latest poll of over 80 fixed-income strategists, taken in the past week, were forecast to be much lower in the year ahead than expected three months ago, tracking the sharp decline in yields since then.

The 2-year Treasury yield is forecast to rise to 2.55 percent in the next 12 months from about 2.30 percent now. The 10-year yield is expected to rise to 2.80 percent in a year from about 2.48 percent on Tuesday.

That 12-month ahead 10-year yield consensus is a sharp fall from 3.30 percent predicted in December’s poll.

But although 40 percent of analysts who answered the inversion question predict it in a year, the overall forecast is still of a steeper curve, not a flatter one: median forecasts show the gap between 2-year and 10-year note yields about 7 basis points wider to 25 basis points from about 18 now.

The latest data suggest U.S. economic growth is slowing, and the boost from tax cuts is fading. Inflation is tame, which along with uncertainty about how the trade standoff with China progresses, has given the Fed room to pause.

“We are forecasting a gradual slowdown of growth ultimately culminating in a recession – and there is also the broader picture for the global economy, which isn’t that great,” said Elwin De Groot, head of macro strategy at Rabobank.

“Assuming that the Fed doesn’t take any further action, you could still see further flattening, i.e., a slight inversion of the U.S. interest rate curve.”

While 10-year German bund yields were forecast to rise to 40 basis points in a year from around negative 4 basis points currently, it was the lowest 12-month ahead forecast since a September 2016 poll.

With bund yields priced in for a bleaker economic outlook, the bias was towards benchmark yields to rise rather than fall, reflecting some optimism the European Central Bank’s more dovish stance may stall a further economic slowdown.

But with the total number of negative-yielding bonds globally hitting the highest since September 2017 – touching $10 trillion – the hunt for yield is pushing investors into U.S. Treasuries, keeping yields there from rising.

(Polling by Indradip Ghosh and Manjul Paul; Editing by Peter Graff)

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.”

CLICK HERE TO GET THE FOX NEWS APP

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)

Source: OANN

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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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