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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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Bangladesh police arrest building owners over fatal blaze

Police in Bangladesh's capital have arrested two of the owners of a commercial complex that caught fire last week, killing 26 people and injuring about 70.

Additional Deputy Commissioner of the Detective Branch Shahjahan Shaju told The Associated Press early Sunday that they arrested F.R. Tower's owners Tasvir-ul-Islam and S.M.H.I. Faruque in Dhaka after police charged them with negligence and violations of a building code that resulted in casualties.

Authorities say the complex on a busy avenue in Dhaka's Banani commercial district had no fire-protected staircases and some top floors of the 22-story building were illegally constructed.

The blaze that burned for several hours Thursday trapped people inside the building, some shouting for help from windows on upper floors and the roof.

Source: Fox News World

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Exclusive: New York Fed cracks down on Puerto Rico banks following Venezuela sanctions

The corner stone on the Federal Reserve Bank of New York in the financial district in New York
The corner stone on the Federal Reserve Bank of New York in the financial district in New York City, U.S., March 4, 2019. REUTERS/Brendan McDermid

April 18, 2019

By Luc Cohen and Corina Pons

CARACAS (Reuters) – U.S. sanctions on Venezuela have led the New York Federal Reserve to crack down on Puerto Rico’s $50 billion offshore banking industry, according to four sources and a document seen by Reuters.

The development will prevent the island’s offshore banks, several of which are owned by citizens of crisis-stricken Venezuela, from opening accounts with the Fed that give them direct access to the U.S. financial system.

Offshore banks in Puerto Rico are able to open accounts with the Fed since the island is a U.S. territory. That gives them a competitive advantage over other offshore banking jurisdictions like the British Virgin Islands, which have to access the U.S. financial system through expensive third-party correspondent banks.

But in a previously unreported Feb. 27 letter, the New York Fed said it had halted approval of new accounts for Puerto Rican offshore banks and other financial institutions “in light of recent events, including the expansion of U.S. economic sanctions relating to Venezuela.”  

It plans stricter requirements for the opening of such accounts in the future, it said.

It did not give further details on why it was taking that step. But the move follows two Puerto Rican offshore banks that have accounts open with the New York Fed being mentioned in federal investigations into money laundering and sanctions evasion related to Venezuela.

“The Fed worries about its reputational exposure, just like anybody else does,” said David Murray, a vice president at the Washington-based Financial Integrity Network and a former Treasury Department official.

A spokeswoman for the New York Fed did not respond to requests for comment.

The decision will only affect Puerto Rican banks that had pending applications with the Fed and will not affect the 17 of Puerto Rico’s 80 offshore banks that the Fed’s website shows already have Fedwire accounts. Reuters was unable to determine how many banks were awaiting responses on their applications to open accounts.

The move to suspend account approvals shows how U.S. sanctions on Venezuela, which are meant to force socialist President Nicolas Maduro from office amid a political crisis and an economic meltdown, are having a ripple effect in other parts of the global financial system.

It could deal a blow to Puerto Rico, which has been using the offshore sector as an economic development strategy as it struggles with a crushing debt load and the impact of natural disasters such as 2017’s Hurricane Maria.

The island has for years nurtured its offshore banking sector by offering tax incentives to bank owners and promoting direct access to the U.S. financial system through the Fed rather than correspondent banks, which charge for their services and can end the relationship at a moment’s notice.

Offshore banking lets individuals and companies deposit money outside their countries of residence in order to legally lower tax bills, but criminal investigations and multilateral organizations have alleged it is also used for tax evasion and money laundering.

The notice also applies to U.S. Virgin Islands offshore banks. Both territories fall under the jurisdiction of the Fed’s New York branch.

‘WE SHARE IT ALL’

George Joyner, the commissioner of Puerto Rico’s banking regulator, declined to say how many of the territory’s offshore banks had applications pending with the Fed. He said the island regulator used the same standards as federal authorities including the Fed to supervise financial institutions, and that anti-money laundering was a “high focus.”

“Our office fully shares everything that we find in our examinations, and we share it with all the federal agencies,” Joyner said in a telephone interview.

He said “a number” of Puerto Rican offshore banks had been created with Venezuelan capital, without elaborating.

The Virgin Islands’ director of banking and insurance did not respond to requests for comment.

Sixteen of Puerto Rico’s 80 offshore banking and financial services firms are owned by Venezuelan individuals or companies, according to a Reuters review of their websites, corporate registry records, and directors’ LinkedIn pages and personal websites.

Several marketed directly to Venezuelan clients, or had past deals with the Venezuelan government, while twelve of the sixteen had Fedwire accounts, according to the Federal Reserve’s website.

Fedwire, a funds transfer system controlled by the Fed, allows banks, businesses and government agencies to send and receive payments in real time.

VENEZUELA CONNECTIONS

In recent years, U.S. prosecutors have examined the role Puerto Rico’s offshore banks have played in efforts to launder Venezuelan funds through the United States. It was not clear if the two cases in question contributed to the New York Fed’s decision to halt the opening of new accounts, but one source at a Puerto Rican bank and industry consultant David Nissman said they were likely an important factor. Joyner said they “certainly didn’t help.”

Federal prosecutors in a sprawling corruption probe unsealed in July of 2018 charged Uruguayan national Marcelo Gutierrez with allegedly conspiring to launder funds embezzled from Venezuelan state oil company PDVSA through a “bank in Puerto Rico” that he owned, according to criminal investigation filings in Florida federal court.

The prosecutors’ complaint does not identify the bank and says the transaction never took place.

Gutierrez’s LinkedIn profile lists him as a director at Vestin Bank International, which Puerto Rico banking regulator records show received a license to operate as an offshore operation on the island in 2015.

Vestin has since been acquired by Asia-focused Standard International Bank and Gutierrez has not been a shareholder since August of 2018, Standard said in a statement, adding that it had no links to Vestin’s prior business, no ties to Venezuela and no plans to enter the Venezuelan market.

Bruce Udolf, a Florida-based defense attorney for Gutierrez, said, “We expect to respond with a vigorous defense to those charges. We are hopeful that he will be vindicated at trial.”

In February, the FBI raided Puerto Rican offshore bank Banco San Juan International (BSJI) as part of a probe of money laundering and evasion of Venezuela-related sanctions, special agent Douglas Leff told reporters at the time. A spokesman for the FBI San Juan field office declined to provide further details.

In 2016, BSJI reached a $300 million credit agreement with PDVSA, according to PDVSA’s financial statements from that year.

BSJI also has an account with the Fed, according to Fed records.

In a statement, BSJI said it had complied with all U.S. sanctions and was cooperating with the FBI investigation.

The source at the bank in Puerto Rico, along with Joyner and Nissman, said most of the island’s offshore banks applied strict scrutiny on customers, and that the decision would punish an entire sector for the actions of a few bad actors.

“It just shuts your businesses down, and what did they do?” said Nissman, a former U.S. attorney for the U.S. Virgin Islands who drafted the territory’s offshore banking law, and now a Puerto Rico-based consultant. He said the Fed should evaluate applications on a “case-by-case basis.”

(Reporting by Luc Cohen and Corina Pons, Editing by Brian Ellsworth and Rosalba O’Brien)

Source: OANN

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Iran says it seeks peace and stability in Yemen, entire regi

Iran's President Hassan Rouhani says his country wants an end to the war in Yemen.

Speaking after a meeting with visiting Iraqi Prime Minister Adel Abdul-Mahdi on Saturday, Rouhani said: "The war in Yemen should finish soon and the solution to the Yemeni crisis should be a political one. "

Tehran supports the Houthi rebels in Yemen who are fighting against a Saudi-led coalition supporting the Yemeni government..

Source: Fox News World

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Ethiopia to release preliminary report into cause of Ethiopian Airlines crash

FILE PHOTO: People walk at the scene of the Flight ET 302 plane crash, near the town of Bishoftu
FILE PHOTO: A passenger safety instruction card is seen at the scene of the Ethiopian Airlines Flight ET 302 plane crash, near the town of Bishoftu, southeast of Addis Ababa, Ethiopia March 10, 2019. REUTERS/Tiksa Negeri/File Photo

April 1, 2019

NAIROBI (Reuters) – Ethiopia will release a preliminary report on Monday into the cause of an Ethiopian Airlines crash that killed 157, a foreign ministry spokesman said.

The report will be released by the Ministry of Transport, Nebiyat Getachew told Reuters, although a time had not yet been set.

(Reporting by Maggie Fick; writing by Katharine Houreld, Editing by William Maclean)

Source: OANN

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Exclusive: Brazil weighs offering coffee options to support prices – sources

FILE PHOTO: The robusta coffee fruits are seen in Sao Gabriel da Palha
FILE PHOTO: The robusta coffee fruits are seen in Sao Gabriel da Palha, Espirito Santo state, Brazil May 2, 2018. REUTERS/Jose Roberto Gomes

April 4, 2019

By Marcelo Teixeira

SAO PAULO (Reuters) – The Brazilian government is considering offering put options to coffee producers as a way to shore up prices at a 13-year low and assure a minimum income for struggling farmers, two people with knowledge of the talks told Reuters on Thursday.

The program, if approved, would give producers the right to sell their crops to the government at a fixed price, setting a floor for coffee prices in the world’s largest coffee producer and exporter. That would likely force buyers to pay more for Brazilian coffee and encourage other coffee-growing countries to follow suit.

Producers have been pressuring Brasilia to offer put options and rebuild government bean inventories that had been sold off earlier this decade.

“We have talked to the government and they liked the idea,” a director at a Brazilian coffee cooperative told Reuters.

“It would be a win-win program. Farmers can be guaranteed better prices, and the government can later profit from the sales of that coffee when prices recover,” he said.

Another industry source said he had also heard about the talks from producers that he advises. That source said that many details still needed to be worked out, such as the program’s size and the level of the price floor.

The sources asked for anonymity because they were not authorized to speak publicly about the issue.

Brazil’s Agriculture Ministry did not respond to a request for comment.

Coffee prices in New York hit a fresh 13-year low this week as output surpasses demand in the global market. Arabica prices were trading at 95.20 cents per pound on Thursday, down 0.16 percent.

The Brazilian government has been active in the coffee market in the past, intervening with policies to help farmers when market prices were at or below production costs.

Brazil last used options in 2013, when it offered contracts for farmers to sell up to 3 million bags to the government at a fixed price. The put options required coffee producers to pay a small fee for the right to sell their coffee to the government.

If market prices are below the fixed price set for the options when they expire, the producer normally exercises the option and delivers the product to government warehouses.

The Brazilian government sold off the beans acquired in the 2013 program when prices recovered and by 2017 had eliminated its coffee inventories.

One obstacle for the program would be the potential cost to the government of billions of reais at a moment when President Jair Bolsonaro has pledged to rein in public spending and reduce a large budget deficit.

Even if the Agriculture Ministry agrees to the idea, it would have to pass muster with Economy Minister Paulo Guedes, who has vowed to cut industry-specific subsidies, before getting Bolsonaro’s signature.

The first source said the idea would be to launch the program in 2020, when Brazil is expected to produce a larger crop, based on its biennial coffee production cycle.

2019 is an off-year for Brazil’s coffee fields, and the government expects production to fall to between 50.5 million and 54.5 million 60-kg bags from the record of 61.6 million bags produced in 2018.

(Reporting by Marcelo Teixeira; Editing by Brad Brooks, Brad Haynes, Phil Berlowitz)

Source: OANN

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Algeria ruling party leader says Bouteflika’s decisions valued

FILE PHOTO: Algeria's President Abdelaziz Bouteflika looks at journalists after casting his ballot during the parliamentary election in Algiers
FILE PHOTO: Algeria's President Abdelaziz Bouteflika looks at journalists after casting his ballot during the parliamentary election in Algiers, Algeria, May 4, 2017. REUTERS/Zohra Bensemra/File Photo

March 21, 2019

CAIRO (Reuters) – Algeria’s ruling National Liberation Front party (FLN) values the decisions of President Abdelaziz Bouteflika, Ennahar Tv cited party leader Moad Bouchareb as saying on Thursday.

The FLN also stressed the party’s moral and political commitment to Bouteflika’s decisions, Bouchareb said.

On Wednesday, FLN sided with protesters after a meeting of its top officials, state news agency APS said. It quoted Bouchareb as saying the “FLN fully supports the popular protest movement”.

(Reporting by Hesham Hajali; Editing by Tom Brown)

Source: OANN

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FILE PHOTO: Chevron's Michael Wirth speaks at Gastech, the world's biggest expo for the gas industry, in Chiba
FILE PHOTO: Chevron’s Michael Wirth speaks at Gastech, the world’s biggest expo for the gas industry, in Chiba, Japan April 4, 2017. REUTERS/Toru Hanai

April 26, 2019

HOUSTON (Reuters) – Chevron Corp on Friday pushed back at the potential for a rival to break up its $33 billion deal for Anadarko Petroleum Corp, saying the two companies had already begun meetings on a merger plan.

Occidental Petroleum on Thursday sought to scuttle the proposed deal, submitting a higher, $38 billion cash-and-stock offer for Anadarko. Anadarko’s board said on Thursday it would evaluate the new proposal.

“I’ll just remind everyone that we’ve got a signed deal that has been approved by both boards and we’ve moving forward with integration planning,” said Chevron Chief Executive Michael Wirth on a conference call with analysts. He said a “sizeable” group of employees had already met.

Wirth declined to say whether Chevron would raise its offer in light of Occidental’s higher bid. Chevron has the ability revise the structure of its 75 percent stock, 25 percent cash bid, Chevron finance chief Pierre Breber said on the same call. “We could put more cash in if that’s what Anadarko wanted to do,” he said.

(Reporting by Gary McWilliams; Editing by James Dalgleish)

Source: OANN

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FILE PHOTO: Naqvi Founder and Group Chief Executive of Abraaj Group attends the annual meeting of the WEF in Davos
FILE PHOTO: Arif Naqvi, Founder and Group Chief Executive of Abraaj Group attends the annual meeting of the World Economic Forum (WEF) in Davos, Switzerland, January 17, 2017. REUTERS/Ruben Sprich/File Photo

April 26, 2019

By Tom Arnold

LONDON (Reuters) – A London court case to extradite Arif Naqvi, founder of collapsed private equity firm Abraaj Group, to the United States on fraud charges was adjourned until May 24, a court official said on Friday.

Naqvi was remanded in custody until that date, the official said. A former managing partner of Dubai-based Abraaj, Sev Vettivetpillai, was released on conditional bail to appear again at Westminster Magistrates Court on June 12, the official said.

Under the U.S. charges, both men are accused of defrauding U.S. investors by inflating positions held by Abraaj in order to attract greater funds from them, causing them financial loss, the official said.

Vettivetpillai could not be reached for a comment.

Naqvi, in a statement released through a PR firm, has pleaded innocent.

The U.S. Securities and Exchange Commission alleges that Naqvi and his firm raised money for the Abraaj Growth Markets Health Fund, collecting more than $100 million over three years from U.S.-based charitable organizations and other U.S. investors.

Naqvi and Vettivetpillai were arrested in Britain earlier this month. Another executive, Mustafa Abdel-Wadood was arrested at a New York hotel, Assistant U.S. Attorney Andrea Griswold said at a hearing in Manhattan federal court on April 11.

Abdel-Wadood appeared at the Manhattan hearing and pleaded not guilty to securities fraud, wire fraud and conspiracy charges.

(Editing by Jane Merriman)

Source: OANN

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Former Vice President Joe Biden announces his 2020 candidacy
Former U.S. Vice President Joe Biden announces his candidacy for the Democratic presidential nomination in this still image taken from a video released April 25, 2019. BIDEN CAMPAIGN HANDOUT via REUTERS ATTENTION EDITORS – THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY. NO RESALES. NO ARCHIVES

April 26, 2019

By James Oliphant

WASHINGTON (Reuters) – Former U.S. Vice President Joe Biden, in his first interview as a Democratic presidential candidate, said on Friday that he does not believe he treated law professor Anita Hill badly during the 1991 confirmation hearings for Supreme Court Justice Clarence Thomas.

Biden had joined the burgeoning 2020 Democratic field a day earlier.

Biden’s conduct during those hearings, when he was chairman of the U.S. Senate Judiciary Committee, became a renewed subject of controversy after the New York Times reported that Biden had called Hill earlier this month in the run-up to his presidential bid and that Hill was dissatisfied with Biden’s expression of regret.

Appearing on ABC’s “The View,” Biden largely defended his actions as a senator almost 30 years ago, saying he believed Hill’s allegations of sexual harassment levied at Thomas and tried to derail his confirmation.

Activists have long been unhappy that Hill was questioned in graphic detail by the all-white, all-male committee chaired by Biden.

“I’m sorry she was treated the way she was treated,” Biden said, but later, he asserted, “I don’t think I treated her badly. … How do you stop people from asking inflammatory questions?”

“There were a lot of mistakes made across the board and for those I apologize,” he said.

Biden praised Hill as “remarkable” and said she is “one of the reasons we have the #MeToo movement.”

Asked why he had not reached out to Hill earlier, Biden said he had previously publicly stated he had regrets about her treatment and that he “didn’t want to quote invade her space.”

That seemed to be a reference to another controversy that looms over Biden’s presidential run: allegations by several women that he made them uncomfortable by touching them at political events.

Biden also addressed that criticism, saying he was now more “cognizant” about a woman’s “private space.” But he maintained that he had been “trying to bring solace.”

He suggested he was still trying to sort out the guidelines for his conduct going forward.

“I should be able to read better,” he said. “I have to be more careful.”

Pressed by the show’s panel for an apology to his accusers, Biden would not entirely capitulate.

“So, I invaded your space,” he replied. “I mean, I’m sorry this happened. But I’m not sorry in a sense that I think I did anything that was intentionally designed to do anything wrong or be inappropriate.”

Biden, 76, served as former President Barack Obama’s vice president for two terms. He is competing with 19 others for the Democratic presidential nomination and the chance to likely face President Donald Trump next year in the general election.

His first public event as a presidential candidate is scheduled for Monday in Pittsburgh.

(Reporting by James Oliphant; editing by Jonathan Oatis)

Source: OANN

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FILE PHOTO: The logo of Tesla is seen in Taipei
FILE PHOTO: The logo of Tesla is seen in Taipei, Taiwan August 11, 2017. REUTERS/Tyrone Siu/File Photo

April 26, 2019

By Noel Randewich

SAN FRANCISCO (Reuters) – Tesla Inc’s stock slumped over 4% on Friday to its lowest price in two years, rounding out a rough week that included worse-than-expected quarterly results and a pitch by Chief Executive Elon Musk on autonomous cars that failed to win over investors.

With investors betting Tesla will soon raise capital, the stock has fallen 13% for the week to its lowest level since January 2017, before the launch of the Model 3 sedan aimed at making the electric car maker profitable.

One positive development for Tesla: a U.S. District Court judge on Friday granted a request by Musk and the Securities and Exchange Commission for a second extension to resolve a dispute over Musk’s use of Twitter.

On Wednesday, Tesla posted a worse-than-expected loss of $702 million for the March quarter. Musk said Tesla would return to profit in the third quarter and that there was “some merit” to raising capital.

Musk is still battling to convince investors that demand for the Model 3, the company’s first car aimed at the mass consumer market, is “insanely” high, and that it can be delivered efficiently to customers around the world.

Tesla ended its first quarter with $2.2 billion, down from $3.7 billion in the prior quarter, and the company is planning expansions including a Shanghai factory, an upcoming Model Y SUV, and other projects.

(GRAPHIC: Tesla’s cash – https://tmsnrt.rs/2DyJjX6)

On Monday, Musk hosted a self-driving event, where he predicted Tesla would have over a million autonomous vehicles by next year. Some analysts perceived the presentation as a way to deflect attention from questions about demand, margin pressure, increasing competition and even Musk’s ongoing battle with U.S. regulators.

Tesla’s stock has now fallen 29 percent in 2019 and the company’s market capitalization has declined to $41 billion from $63 billion in mid-December.

(GRAPHIC: Tesla’s declining market cap – https://tmsnrt.rs/2Dwd62r)

Analysts now expect Tesla’s revenue to expand 19% in 2019, compared with 83% growth in 2018 and 68% growth in 2017, according to Refinitiv.

Following Tesla’s quarterly report, 12 analysts recommend selling the stock, while 11 recommend buying and eight are neutral. The median analyst price target is $275, up 16% from the stock’s current price of $236. Berenberg analyst Alexander Haissl has the most optimistic price target, at $500, while Cowen and Company’s Jeffrey Osborne has the lowest, at $160, according to Refinitiv.

(Reporting by Noel Randewich; editing by Jonathan Oatis)

Source: OANN

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Former CIA Director John Brennan pushed back Friday on President Trump’s charge that he knew about or participated in an attempt to overthrow the American government.

“I don’t think it’s surprising at all that we continue to hear the sociopathic ramblings of Mr. Trump claiming that there was this effort to try to prevent him from being elected or to unseat him,” he told MSNBC’s Hallie Jackson.

Brennan was reacting to comments Trump made during an interview with Sean Hannity on Thursday night.

Trump specifically criticized Brennan, along with former Director of National Intelligence James Clapper, former FBI Director James Comey, and former Deputy FBI Director Andrew McCabe, in the fiery interview.

ROSENSTEIN SLAMS OBAMA ADMINISTRATION FOR CHOOSING ‘NOT TO PUBLICIZE FULL STORY’ OF RUSSIA HACKING

His comments followed the release of Special Counsel Robert Mueller‘s report which stopped short of accusing the president of either obstruction of justice or collusion with Russia.

Brennan added he welcomed further investigation into his and other officials’ conduct while they served in government. “I’ve testified in front of Congress … Absolutely, I’ll do it again,” he said.

Brennan also disputed Sen. Rand Paul’s, R-Ky., claim that he “insisted that the unverified and fake Steele dossier be included in the Intelligence Report.”

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Journalist Bob Woodward similarly promoted the idea that the CIA pushed to include the Steele dossier in the intelligence community assessment surrounding Russian election interference.

“That’s absolutely incorrect and 180 degrees from the truth. It was CIA that was pushing not to have it included and not to be taken into account at all in that intelligence community assessment.

Source: Fox News Politics

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