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Independent march in Havana believed first for communist-run Cuba, organizers say

People carry a banner reading
People carry a banner reading "Cuba against animal abuse", during a march in defence of animal rights, in Havana, Cuba April 7, 2019. REUTERS/Fernando Medina

April 7, 2019

By Sarah Marsh

HAVANA (Reuters) – Hundreds of Cubans marched peacefully through Havana calling for an end to animal cruelty on Sunday in what organizers believe was the first independent march authorized by the one-party state.

Accompanied by their pets, the activists carried placards calling for an animal protection law and chanted “down with animal abuse” as they walked through the central district of Vedado to the surprise of curious onlookers.

That the Communist government authorized ordinary citizens to stage the march could point to an expanding tolerance for Cubans to express their views and even make demands, albeit still within limits, analysts and participants said.

Authorities still crack down on opposition attempts to hold demonstrations and detain dissidents who they say are subversives in the pay of the United States, however.

It was ironic that the first authorized independent march would be in support of animal and not human rights, but it could be a pilot test for greater freedoms, some march participants said.

“This could be the new Cuba,” said organizer Beatriz Batista, a 21-year-old communications student who received a permit for the march from the municipal authority of her Havana borough.

Others were more skeptical.

“This enables the government to say ‘look how permissive we are’. But is it really?” said dissident artist Luis Manuel Otero Alcantara, who was briefly detained last week over a piece he plans to show on the sidelines of the upcoming Havana Biennial.

Previous marches have been largely restricted to those organized by the government to celebrate Cuba’s 1959 leftist revolution or criticize its Cold War foe, the United States, religious processions, and an annual march by gay rights activists under the umbrella of a government organization.

While physical public spaces in Cuba remain tightly controlled, a recent expansion of internet access in what was long one of the western hemisphere’s least connected countries has allowed citizens to mobilize more in the virtual realm.

Sunday’s event was publicized on social media and independent online media.

“Social media has really brought about miracles,” Batista said.

The government appears to have become more tolerant of and even responsive to online activity since Miguel Diaz-Canel last April replaced Raul Castro as president last April.

In December, the government postponed the full implementation of a decree clamping down on the arts after an online campaign protesting the law, and rowed back on regulations governing the private sector after entrepreneurs and experts complained.

Some participants said they hoped in Sunday’s march signaled that people would now be able to take to the streets as well as the web.

“Let’s hope this opens the door for more people to be able to hold such initiatives,” said Cuban artist Abu Tamayo.

(Reporting by Sarah Marsh; Editing by Sonya Hepinstall)

Source: OANN

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Visa quarterly profit rises 14 percent

Security staff stand next to a Visa logo at Murtala Muhammed International Airport before the arrival of the Nigerian Women’s Bobsled Team, in Lagos
FILE PHOPTO: Security staff stand next to a Visa logo at Murtala Muhammed International Airport before the arrival of the Nigerian Women’s Bobsled Team, in Lagos, Nigeria, as part of preparations ahead of the 2018 Pyeongchang Winter Olympic Games, February 1, 2018. REUTERS/Afolabi Sotunde

April 24, 2019

(Reuters) – Visa Inc reported a 14.3 percent rise in quarterly profit on Wednesday, as more people swiped cards using the extensive network of the world’s largest payment processor.

Net income rose to $2.98 billion, or $1.31 per Class A share, in the second quarter ended March 31, from $2.61 billion, or $1.11 per Class A share, a year earlier.

Analysts were expecting net income of $1.24 per share, according to IBES data from Refinitiv, although it was not immediately clear if the numbers were comparable.

(Reporting By Aparajita Saxena in Bengaluru; Editing by Arun Koyyur)

Source: OANN

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AOC Calls Omar ‘One of the Most Effective Voices Right Now’

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Wolfdog hybrid gains online fame at Florida sanctuary

A giant wolfdog hybrid named Yuki who "loves to be the center of attention" is living his dream at a sanctuary in Florida.

The animal was rescued by Shy Wolf Sanctuary in Naples in 2008 when he was around 8 months old and is a mixture of breeds — 87.5 percent gray wolf, 8.6 percent Siberian Husky and 3.9 percent German Shepherd, according to the sanctuary.

Because he's mostly wolf, he's considered a "high content wolfdog." Wolfdog hybrids, according to the International Wolf Center, live roughly 12 to 14 years in captivity, the same as a large domestic dog.

While both dogs and wolves are able to breed together, it's "rare" that hybrids can come about naturally, as "the territorial nature of wolves leads them to protect their home ranges from intruding canines such as dogs, coyotes and other wolves," the center said.

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Yuki, described as a "ladies man" and a "ham" with a "strong personality," gained attention in recent months after a volunteer posted photos of the wolfdog to her Instagram account.

Unfortunately, the 12-year-old, who often finds his way onto the Facebook page of Shy Wolf, is terminally ill. The sanctuary said Yuki has blood cancer, and is not available for adoption.

Source: Fox News National

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Cory Booker’s tax returns shows income from lucrative speaking gigs, royalties

Democratic presidential candidate Cory Booker’s tax returns show most of his wealth stems from lucrative speaking engagements and royalties.

Booker, the 2020 candidate who has yet to make a splash in the crowded Democratic field, released 10 years of tax returns on Wednesday after numerous other candidates released their records in recent weeks.

WHO ARE THE WEALTHIEST 2020 DEMS? WITH TAX RETURNS IN, THE ANSWER MAY SURPRISE YOU

The New Jersey senator reported income of $152,715 in 2018 for his salary, $22,781 in taxes which amounts to an effective tax rate of 15 percent, significantly lower than Sen. Kamala Harris’ 37 percent or Sen. Bernie Sanders’ 26 percent.

Most of Booker’s wealth comes public speaking fees and royalties, including $2 million in speaking fees between 2009 and 2014, nearly $1 million in royalties from 2015 to 2017 after the release of his book, “United.”

But the lower effective tax rate may have something to with Booker’s sizeable charitable donations. In 2018, he donated $24,000 to charity. In total over the 10-year period, the senator donated nearly $460,000 to various organizations and causes.

BETO O'ROURKE CONFRONTED AT TOWN HALL ABOUT STINGY CHARITABLE DONATIONS

This appears to be significantly more in proportion than his opponents like Sanders or former Congressman Beto O’Rourke, who faced questions over his household giving to charity just $1,166 in 2017, or about 0.3 percent of their income that year.

At the same time, more than half of those donations made by Booker came in 2013 amid criticism of his role in the founding of a social media company called Waywire, prompting him to give massive amounts of stock to charities in his city.

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The New York Times revealed that Booker’s wealth at the time – $5 million – consisted mostly of shares in the company.

The Associated Press contributed to this report.

Source: Fox News Politics

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As Xi heads to Italy, Vatican says China should not fear Church

FILE PHOTO: China's President Xi Jinping visits Portugal
FILE PHOTO: China's President Xi Jinping attends a meeting with Portugal's Parliamentary President Eduardo Ferro Rodrigues at the Parliament in Lisbon, Portugal, December 5, 2018. REUTERS/Pedro Nunes/File Photo

March 17, 2019

By Philip Pullella

VATICAN CITY (Reuters) – A top Vatican official says China’s government should not fear “distrust or hostility” from the Roman Catholic Church, writing amid speculation over whether President Xi Jinping will meet Pope Francis this week.

Senior Vatican sources have said Francis is willing to meet Xi and that intermediaries had made overtures to the Vatican, but the Chinese side had not yet formally asked for a meeting. Any encounter would be the first between a Chinese leader and a pope.

Xi’s visit, starting Thursday, is his first to Italy following a historic agreement in September between the Vatican and the Chinese government on the appointment of bishops in China.

Beijing cut diplomatic ties with the Vatican in 1951 and has remained concerned that an independent Church in China could threaten its authority.

“The Holy See (nurtures) no distrust or hostility toward any country,” Vatican Secretary of State Cardinal Pietro Parolin writes in the introduction of a new book on China to be published on Tuesday. An advance copy of Parolin’s comments in the book, “The Church in China – A Future Yet to be Written” – were made available to Reuters.

Parolin, second only to the pope in the Vatican hierarchy, said the Catholic Church’s work in China “cannot be separated from a stance of respect, esteem, and trust toward the Chinese people and their legitimate state authorities.”

This appeared to be another attempt by the Vatican to allay Beijing’s concerns.

While the historic September agreement initiated an unprecedented direct dialogue between the Vatican and China, Beijing and the Holy See have not resumed diplomatic, relations.

Parolin wrote that the previously “inextricable knots” in relations between China and the Vatican could be untied through a new, unified approach involving a mix of “theology, law, pastoral work, and even diplomacy.”

It is routine for heads of state and government visiting Italy to also meet the pope. A Vatican source said it could be inserted into Xi’s schedule “at the last minute”. A Vatican spokesman said it is not on the pope’s schedule.

The September deal, in the making for more than 10 years, gives the Vatican a long-sought say in the choice of bishops in China. Critics, particularly conservative Catholics, have labeled it a sellout to the Communist government.

China’s approximately 12 million Catholics have been split between an underground Church swearing loyalty to the Vatican and the state-supervised Catholic Patriotic Association. Now both sides recognize the pope.

Many believe the September deal is a precursor to resumption of diplomatic ties with Beijing.

That would mean severing relations with Taiwan, which Beijing regards as a renegade province. The Vatican is the self-ruled island’s last remaining diplomatic ally in Europe.

(Reporting By Philip Pullella; Editing by Toby Chopra)

Source: OANN

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The Latest: Lawyer: Shackled children want normal adulthoods

The Latest on the sentencing of a California couple who starved and abused a dozen of their children for years (all times local):

2 p.m.

The attorney for the adult children who were tortured and abused by their California parents for years says they're trying to live their lives as normally as possible and each is grappling with how much they're willing to forgive.

Attorney Jack Osborn says David and Louise Turpin's children want to be normal adults without being thought of first as the Turpin children.

Osborn says they're aware of an outpouring of support from strangers from around the world but hope to maintain as much anonymity and privacy as possible.

The Turpin parents were sentenced to life in prison with the possibility of parole after 25 years. They pleaded guilty in February.

Some of the children say they're ready to visit their parents while others say don't want any contact.

___

10:26 a.m.

A California couple who pleaded guilty to years of torture and abuse of 12 of their 13 children have been sentenced to life in prison with possibility of parole after 25 years.

David and Louise Turpin were sentenced Friday during an emotional hearing that saw some of the children speak publicly about the abuse for the first time.

Louise Turpin wept as she apologized for hurting her children, while her husband David Turpin struggled to give a short statement.

One of their daughters, weeping, said in court that "My parents took my whole life from me but now I'm taking my life back."

The sentencing came just over a year after the Turpins' 17-year-old daughter jumped out of a window of the family's squalid home and called 911. She reported that some of her siblings were chained to their beds and that she hadn't bathed in months.

___

10:18 a.m.

A California couple convicted of abusing 12 of their children has apologized at their sentencing after hearing from some of the victims.

David Turpin's lawyer read part of a statement because he was too upset. "My homeschooling and discipline had good intentions," he said. "I'm sorry if I've done anything to cause them harm."

Louise Turpin spoke for herself, saying, "I'm sorry for everything I've done to hurt my children. I love my children so much. ... I only want the best for them.

The Turpins are expected to be sentenced to at least 25 years in prison. They pleaded guilty in February to torture and other abuse that was uncovered when their 17-year-old daughter jumped out a window and called 911.

___

10:10 a.m.

Several children of a California couple convicted of torturing them for years gave emotional statements at their parents' sentencing Friday.

Louise Turpin wept and David Turpin wiped his eyes as the children spoke, with one of them saying: "My parents took my whole life from me but now I'm taking my life back."

Some of the other children said they still love their parents. One asked for a lighter sentence because "they believed everything they did was to protect us."

It's the first time the children have spoken publicly since the arrest of their parents, David and Louise Turpin. They have the right to address the court to say how they've been impacted by the abuse.

The Turpins are expected to be sentenced to at least 25 years in prison. They pleaded guilty in February to torture and other abuse that was uncovered when their 17-year-old daughter jumped out a window and called 911.

___

10:05 a.m.

Two of the children of a California couple convicted of torturing them for years have addressed the court at their sentencing.

It's the first time the children are appearing publicly since the arrest of their parents, David and Louise Turpin. They have the right to address the court to say how they've been impacted by the abuse.

Their parents watched in tears, as their children related the nightmares about being chained and beaten.

___

12:01 a.m.

A California couple who starved a dozen of their children and shackled some to beds face sentencing for years of abuse.

David and Louise Turpin are due Friday in Riverside County Superior Court for a proceeding that is largely a formality.

The couple pleaded guilty in February to torture and other abuse and agreed to serve at least 25 years in prison.

The abuse was uncovered last year when one of the couple's 13 children jumped out a window and called 911. The 17-year-old girl had lived such an isolated life that she didn't know her address and didn't know what medication meant.

Most of the children ranging in age from 2 to 29 were severely underweight and hadn't bathed for months. The house reeked of human waste.

Source: Fox News National

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

April 26, 2019

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

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

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

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

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

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

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

Source: OANN

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

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

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

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

BIDEN HIRES FORMER BERNIE SANDERS’ SPOKESPERSON AS SENIOR ADVISER

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

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

Footage of the interview was resurfaced by RealClearPolitics.

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

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

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

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

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

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

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

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

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

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

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

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

Fox News Andrew O’Reilly contributed to this report.

Source: Fox News Politics

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

The Associated Press contributed to this report.

Source: Fox News National

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

April 26, 2019

By Amit Dave and Mayank Bhardwaj

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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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