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Mexico launches plan to mark vaquita porpoise reserve

The Mexican government says it will mark the reserve of the world's most endangered marine mammal with buoys, in a bid to save the last remaining 10 or so vaquita porpoises.

The Environment Department promised to provide social programs and jobs for fishing communities in the upper Gulf of California, the only place in the world the vaquita lives.

It said tourism, fish farms and better fishing practices would be encouraged in the area.

The government is faced with the challenge of ending illegal net fishing for totoaba, a fish whose swim bladder is considered a delicacy in China.

Environmentalists said Thursday the government program lacked sufficient details and stressed that more urgent measures are needed to save the vaquita from extinction.

Source: Fox News World

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Rattled by Vale disaster, mining CEOs move to change industry

Members of a rescue team search for victims of a collapsed tailings dam owned by Brazilian mining company Vale SA, in Brumadinho
FILE PHOTO: Members of a rescue team search for victims of a collapsed tailings dam owned by Brazilian mining company Vale SA, in Brumadinho, Brazil February 13, 2019. REUTERS/Washington Alves

February 26, 2019

By Ernest Scheyder

HOLLYWOOD, Fla. (Reuters) – After last month’s deadly tailings dam disaster at a Vale SA facility in Brazil, Freeport-McMoRan Inc Chief Executive Richard Adkerson sent a memo to his 29,000 employees telling them to immediately report any safety concerns about the scores of dams his company operates.

The disaster, which killed more than 300, has sparked a push to set global standards for the construction and inspection of tailings dams, which store the muddy detritus of the mining process, as well as emergency preparations. The move reflects a radical departure from the way the facilities have operated for more than a century.

Freeport, the world’s largest publicly traded copper producer, spends several hundred millions of dollars per year on tailings dams upkeep and has not had a tailings dam failure since it acquired Phelps Dodge in 2007. Adkerson’s directive underscored his desire not to blemish that record.

“I told my people, ‘If you know of a problem, don’t try to solve it yourself,'” Adkerson told Reuters. “Report it.”

On Tuesday, Adkerson and 26 other CEOs, including leaders from BHP Group Ltd, Vale SA and Glencore Plc, agreed as their first step since the Vale disaster to form a panel that will set international design and maintenance standards for dams and study ways to reduce the volume of water stored behind the dams in waste rock.

“We recognize our responsibility to offer more than just words,” said Donald Lindsey, CEO of Canadian miner Teck Resources Ltd and chair of the International Council on Mining and Metals, the industry trade group that set the standards.

“We owe it to the families impacted (by the Vale disaster) and to our stakeholders to take meaningful action,” he said.

In the weeks after the accident, Brazil’s government banned new upstream mining dams – the type of dam involved in the Vale disaster – and ordered the decommissioning of all such dams by 2021.

But Brazil and the broader mining industry have grappled with how best to codify uniform tailings dam standards, conscious of not only the safety implications but of growing public resentment over the use of tailings dams.

Right now for instance, there are no global mining industry standards defining what a tailings dam is, how to build one and how to care for it after it is decommissioned.

“I’m paranoid about tailings dams,” said Mark Bristow, CEO of Barrick Gold Corp, the world’s largest gold miner, which has assigned full-time engineers to each tailings dam.

In addition to setting global standards for the construction and inspection of tailings dams, the ICMM panel will also study ways to require so-called dry-stack tailings, where water is removed before tailings are stored, thus bolstering a dam’s safety. That likely can happen relatively soon, the ICMM said.

Longer term, ICMM said that in situ mining – in which an acid is pumped underground to leach out copper and other minerals – could become the industry standard, thus eliminating the need for tailings dams entirely.

“We absolutely agree that a fundamental change is required in the industry’s collective approach to safe tailings management,” said BHP CEO Andrew Mackenzie at the BMO Metals & Mining Conference in Florida, where the ICMM approved the panel’s formation.

The new standards to be set by ICMM will apply to all members, regardless of location. Past practices favored a more tailored approach.

The Vale disaster “led us to reconsider how we look at tailings dams and acknowledge we need a step-change,” said Tom Butler, ICMM’s CEO.

Tailings dams in wet locations, for instance, had been held to a higher standard because they were more prone to erosion. But the new standards will favor a uniform approach that industry CEOs hope will greatly reduce the potential for another disaster.

“We cannot have a sense of complacency about this,” Freeport’s Adkerson said.

(Reporting by Ernest Scheyder; Editing by Tom Brown)

Source: OANN

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EU watchdogs give banks no leeway on Brexit-driven hub demands

FILE PHOTO: The skyline of banking district is photographed in Frankfurt
FILE PHOTO: The skyline of banking district is photographed in Frankfurt, Germany, April 9, 2019. REUTERS/Kai Pfaffenbach/File Photo

April 23, 2019

By Huw Jones, Sinead Cruise and Francesco Canepa

LONDON/FRANKFURT (Reuters) – European Union regulators are refusing to cut British-based banks any slack over bulking up in the bloc in preparation for Brexit, despite an extension to the process which some have taken as an opportunity to drag their feet.

Cost-conscious banks are reluctant to spend millions more and cause further disruption to already unsettled staff given uncertainty over how and when Britain will leave the EU.

“Businesses are trying to be savvy, to meet the minimum legal requirement and figure the rest out after Brexit,” Hakan Enver, managing director for financial services at recruiter Morgan McKinley told Reuters.

Banks are trying to minimize staff moves despite pressure from the European Central Bank (ECB), which set a proviso to granting licenses that firms would beef up their EU units with more employees and assets over the next one to two years.

This requirement has not changed, a source close to the matter said, even though the EU has given Britain until Oct. 31 to leave, an extension from the original “Brexit Day” of March 29.

“Banks are still expected to stick to the timeline agreed with the ECB,” the source said.

Dozens of banks have already set up new bases in the EU to avoid disrupting services to clients. Regulators issued licenses for them, even though they are thinly staffed, so that they could be operational when Britain was meant to quit the EU.

HSBC, which declined to comment, shifted some staff from London to its Paris subsidiary in case of a no-deal Brexit on April 12, only to recall them when a new delay was agreed.

And a source at a major U.S. bank said it had dozens of staff lined up to move if there was a no-deal Brexit, but stood them down and is now awaiting clarity before any further moves.

“We are inclined to say that while we remain in this holding pattern, we don’t have to move anyone or anything,” the source said, adding that Brexit could yet be scrapped completely.

The Bank of England expects about 4,000 banking and insurance jobs will have moved from London to new EU hubs by Brexit Day, but recruiters and banking sources say the number that have moved so far is much lower than that.

Some banks were behind with plans to be operationally ready and are now using the delay to complete moves of customer accounts to new hubs, a senior official at a global bank said.

Meanwhile, Britain’s Financial Conduct Authority’s has warned financial firms sending staff to new EU hubs to ensure they still have “appropriate senior oversight” of their operations left behind in Britain.

BACK-TO-BACK

Banks have so far moved around a trillion euros in stocks, bonds, derivatives contracts and other assets from London to their new EU hubs. Accounts of EU clients must also be moved to conduct business from these hubs, a process known as repapering.

But there is still a long tail of small customers for whom repapering is a burdensome task of changing IT and controls systems, limiting how much business new hubs can take on despite regulatory pressure to move in to higher gear.

“Nobody is yet really doing any substantive business, but there will be a robust dialogue between banks and regulators about when to transfer substantive amounts of business and client preferences will play a big role,” said Vishal Vedi, lead financial services Brexit partner at Deloitte.

EU regulators gave temporary concessions to banks to obtain a license, such as continuing to book some trades in London, but their tolerance is waning.

“We expect some back-to-back (trading) to continue, though new hubs in Frankfurt will have to show the ECB that they can stand on their own two feet if need be,” a senior banking regulator told Reuters.

Having to build up capital in a new unit is expensive for banks at a time of a slowdown in European investment banking.

European M&A was down 67 percent in the first quarter of the year, while first quarter results due out over the next few weeks are expected to show trading volumes at European investment banks were down 15 to 20 percent.

“The longer the extension period, the longer it will be problematic for firms,” Andrew Gray, head of UK financial services at PwC, said.

(Editing by Alexander Smith)

Source: OANN

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Exclusive: Indian antitrust watchdog raids Glencore business, others over pulse prices – sources

FILE PHOTO: The logo of commodities trader Glencore is pictured in Baar
FILE PHOTO: The logo of commodities trader Glencore is pictured in front of the company's headquarters in Baar, Switzerland, July 18, 2017. REUTERS/Arnd Wiegmann/File Photo

March 16, 2019

By Aditya Kalra and Mayank Bhardwaj

NEW DELHI (Reuters) – India’s antitrust watchdog raided units of global commodities trader Glencore and two other firms in Mumbai on Saturday in an inquiry into alleged collusion on the price of pulses, four sources with knowledge of the raids told Reuters.

More than 25 antitrust officials carried out the raids at the offices of local units of Glencore and Africa’s Export Trading Group, and India’s Edelweiss group which previously had a commodities business, two government sources told Reuters.

The Competition Commission of India (CCI) has been investigating allegations that the companies formed a cartel to discuss the pricing of pulses while importing and selling them in the Indian market at higher prices in 2015 and 2016, when India faced an acute shortage, the sources said.

A spokesman for Switzerland-based Glencore, Charles Watenphul, declined to comment, while India’s Edelweiss, which sold its commodities trading business in November 2016, and the Export Trading Group did not respond to requests for comment.

Two years of drought pushed up prices of pulses such as chickpeas and black grams, which are a staple of Indian cuisine, in 2015 and forced New Delhi to offer duty-free imports, encouraging foreign and Indian traders who imported pulses to sell locally.

“The collusion by these companies led to higher prices of pulses,” one of the government sources said, adding that the CCI’s inquiry started three months ago.

The investigation will also assess whether the companies have continued their alleged collusion even after the prices of pulses stabilized in recent years, the source said.

IMPORT PRICES

The raids on five company offices in India’s financial capital began on Friday and were concluded on Saturday.

Antitrust officials collected evidence, including documents and e-mails, and questioned company officials during the raids, a second government source said.

Another source, an industry executive, told Reuters that CCI’s search involved going through company records at Glencore’s office in Mumbai, confirming it was part of the watchdog’s probe into accusations of fixing import prices.

The drought during 2015 wilted crops and exacerbated shortages of food such as protein-rich pulses and India, which consumes about 22 million tonnes of pulses annually, faced a shortfall of 7-8 million tonnes in 2015-16.

The CCI’s raids on commodities traders mark only its fourth such search operation in its near 10-year history. They can only be conducted with approval from a judge.

In October, the CCI raided the offices of global brewers such as Carlsberg and Anheuser Busch InBev and found e-mails which allegedly showed violations of Indian anti-trust laws. (https://reut.rs/2JeQKEs)

The brewing companies have pleaded leniency under a CCI program, Reuters has reported.

(Reporting by Aditya Kalra and Mayank Bhardwaj; Additional reporting by Rajendra Jadhav and Aditi Shah; Editing by Alexander Smith)

Source: OANN

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Cities around the world turn off lights to mark Earth Hour

Cities around the world were marking Earth Hour on Saturday night by turning off the lights in a call for global action on climate change.

In Hong Kong, major buildings along Victoria Harbour turned off their non-essential lights at 8:30 p.m., and the city's popular tourist attraction known as the Symphony of Lights was canceled.

Over 3,000 corporations in Hong Kong signed up for Earth Hour 2019, according to the WWF Hong Kong website. Iconic skyscrapers including the Bank of China Tower and the HSBC Building in Central, the city's major business district, switched off their lights in response to the global movement.

In Taipei, Taiwan's capital, the island's tallest building, Taipei 101, joined surrounding buildings in shutting off the lights as part of the Earth Hour event.

Beginning in Sydney in 2007, Earth Hour has spread to more than 180 countries, with tens of millions of people joining in.

Source: Fox News World

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FAA investigates Southwest over baggage weight discrepancies: WSJ

FILE PHOTO - A Southwest Airlines jet taxis on the runway at Washington National Airport in Washington
FILE PHOTO - A Southwest Airlines jet taxis on the runway at Washington National Airport in Washington, U.S., August 9, 2017. REUTERS/Joshua Roberts

February 18, 2019

(Reuters) – The U.S. Federal Aviation Administration is investigating Southwest Airlines Co for widespread failure to accurately track the combined weight of checked bags loaded onto its jets, according to a Wall Street Journal report on Monday.

The U.S. aviation safety agency’s year-long civil probe found systemic and significant mistakes with employee calculations and luggage-loading practices, resulting in potential discrepancies when pilots compute takeoff weights, the Journal said, citing government officials and internal agency documents

The FAA has not decided whether to impose fines or any other punishment, the report cited people familiar with the investigation as saying.

The inaccuracies ranged from a few dozen pounds to more than 1,000 pounds in excess of what the paperwork indicated, sparking disputes between the company and some agency inspectors about potential safety consequences, the report said.

A company spokesman said there is an open Letter of Investigation (LOI) which is a common mechanism for the FAA to document and share safety interests or concerns with an airline.

The airline has not been issued fines and faces no enforcement action regarding its weight and balance program, Southwest spokesman Brandy King said.

“In this case, the LOI addresses an issue that Southwest voluntarily reported to the FAA last year and since that time, Southwest has implemented controls to address weight and balance program concerns, and shared those measures with the FAA,” King said.

The FAA could not be immediately reached for comment.

(Reporting by Rama Venkat in Bengaluru; Editing by Bernadette Baum)

Source: OANN

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Virginia elementary school draws outrage for ‘runaway slave’ gym lesson

A Virginia elementary school apologized after criticism over a Black History Month lesson that instructed children to pose as runaway slaves.

The principal at Madison’s Trust Elementary School acknowledged the mistake after parents complained when teachers modeled a gym exercise after the Underground Railroad.

“The lesson was culturally insensitive to our students and families,” the principal, David Stewart, said in a statement. “I extend my sincerest apology to our students and school community.”

NEW JERSEY BUS DRIVER OVERDOSED, CRASHED WHILE DRIVING 12 KIDS: POLICE

During the class, 3rd-grade students were urged to overcome a physical barrier, said Loudoun County Public School spokesman Wayde Byard.

About 10 families complained after their children participated in the gym class.

“It’s awful,” local NAACP President Michelle Thomas told NBC Washington. “It’s really insulting. It makes me feel unsafe because I have kids in Loudoun County Public Schools.”

“It shows that there’s some implicit bias problems right here at this school,” she added.

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Principal Stewart said the school would form an “equity/culturally responsive team” to remedy the issue.

To read more from The New York Post, click here.

Source: Fox News National

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Traders work on the floor at the NYSE in New York
FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 24, 2019. REUTERS/Brendan McDermid

April 26, 2019

By Sruthi Shankar and Amy Caren Daniel

(Reuters) – U.S. stock index futures were flat on Friday, as investors paused ahead of GDP data, which is expected to show the world’s largest economy maintained a moderate pace of growth in the first quarter.

Gross domestic product probably increased at a 2% annualized rate in the quarter as a burst in exports, strong inventory stockpiling and government investment in public construction projects offset a slowdown in consumer and business spending, according to a Reuters survey of economists.

The Commerce Department report will be published at 8:30 a.m. ET.

The GDP data comes as investors look for fresh catalysts to push the markets higher. The S&P 500 index is about 0.5% below its record high hit in late September, after surging nearly 17% this year.

First-quarter earnings have been largely upbeat, with nearly 78% of the 178 companies that have reported so far surpassing earnings estimates, according to Refinitiv data.

Wall Street now expects S&P 500 earnings to be in line with the year-ago quarter, a sharp improvement from the 2.3% fall expected at the start of April.

Amazon.com Inc rose 0.9% in premarket trading after the e-commerce giant reported quarterly profit that doubled and beat estimates on soaring demand for its cloud and ad services.

Ford Motor Co shares surged 8.5% after the automaker posted better-than-expected first-quarter earnings largely due to strong pickup truck sales in its core U.S. market.

Mattel Inc jumped 8% after the toymaker beat analysts’ estimates for quarterly revenue, as a more diverse range of Barbie dolls powered sales in the United States.

At 6:52 a.m. ET, Dow e-minis were down 35 points, or 0.13%. S&P 500 e-minis were down 1.5 points, or 0.05% and Nasdaq 100 e-minis were up 10.75 points, or 0.14%.

Among decliners, Intel Corp slumped 7.7% after it cut its full-year revenue forecast and missed quarterly sales estimate for its key data center business.

Rival Advanced Micro Devices declined 0.8%.

Oil majors Exxon Mobil Corp and Chevron Corp are expected to report results later in the day.

(Reporting by Sruthi Shankar and Amy Caren Daniel in Bengaluru; Editing by Anil D’Silva)

Source: OANN

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General view of a destroyed building during World War II is pictured in Warsaw
General view of a destroyed building during World War II is pictured in Warsaw, Poland April 26, 2019. REUTERS/Kacper Pempel

April 26, 2019

By Joanna Plucinska

WARSAW (Reuters) – Germany could owe Poland more than $850 billion in reparations for damages it incurred during World War Two and the brutal Nazi occupation, a senior ruling party lawmaker said.

Some six million Poles, including three million Polish Jews, were killed during the war and Warsaw was razed to the ground following a 1944 uprising in which about 200,000 civilians died.

Germany, one of Poland’s biggest trade partners and a fellow member of the European Union and NATO, says all financial claims linked to World War Two have been settled.

The right-wing Law and Justice (PiS) has revived calls for compensation since it took power in 2015 and has made the promotion of Poland’s wartime victimhood a central plank of its appeal to nationalism.

PiS has yet to make an official demand for reparations but its combative stance towards Germany has strained relations.

“Poland lost not only millions of its citizens but it was also destroyed in an unusually brutal way,” Arkadiusz Mularczyk, who heads the Polish parliamentary committee on reparations, told Reuters in an interview.

“Many (victims) are still alive and feel deeply wronged.”

His comments come a month before European Parliament elections in which populist and nationalist parties are expected to do well. Poland will also hold national elections later this year, with PiS still well ahead of its rivals in opinion polls.

EU LARGESSE

Mularczyk said the reparations figure could amount to more than 10 times the estimated 100 billion euros ($111 billion) that Poland has received so far in European Union funds since it joined the bloc in 2004.

Germany is the biggest net donor to the EU budget and some Germans regard its contributions as generous compensation to recipient countries like Poland which suffered under Nazi rule.

In 1953 Poland’s then-communist rulers relinquished all claims to war reparations under pressure from the Soviet Union, which wanted to free East Germany, also a Soviet satellite, from any liabilities. PiS says that agreement is invalid because Poland was unable to negotiate fair compensation.

Mularczyk said his committee hoped to complete its report on the reparations issue by Sept. 1, the 80th anniversary of Hitler’s invasion.

Accusing Berlin of playing “diplomatic games” over the issue, he said: “The matter is being swept under the rug (by Germany) … until it’ll be wiped from the memory, from people’s awareness.”

His comments come after the Greek parliament voted this month to seek billions of euros in German reparations for the Nazi occupation of their country.

(Additional reporting by Anna Wlodarczak-Semczuk, Editing by Justyna Pawlak and Gareth Jones)

Source: OANN

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FILE PHOTO - Otto Frederick Warmbier is taken to North Korea's top court in Pyongyang North Korea
FILE PHOTO – Otto Frederick Warmbier (C), a University of Virginia student who was detained in North Korea since early January, is taken to North Korea’s top court in Pyongyang, North Korea, in this photo released by Kyodo March 16, 2016. Mandatory credit REUTERS/Kyodo/File Photo

April 26, 2019

WASHINGTON (Reuters) – U.S. President Donald Trump on Friday said the United States did not pay any money to North Korea as it sought the release of comatose American student Otto Warmbier.

The Washington Post reported on Thursday that Trump had approved payment of a $2 million bill from North Korea to cover its care of the college student, who died shortly after he was returned to the United States after 17 months in a North Korean prison.

(Reporting by Makini Brice and Susan Heavey)

Source: OANN

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Al-Qaida in Yemen is vowing to avenge beheadings carried out by Saudi Arabia this week — an indication that some of the 37 Saudis executed on terrorism-related charges were members of the Sunni militant group.

Al-Qaida in the Arabian Peninsula, as the branch is called, posted a statement on militant-linked websites on Friday, accusing the kingdom of offering the blood of the “noble children of the nation just to appease America.”

The statement says al-Qaida will “never forget about their blood and we will avenge them.”

U.S. ally Saudi Arabia on Tuesday executed 37 suspects convicted on terrorism-related charges. Most were believed to be Shiites but at least one was believed to be a Sunni militant.

His body was pinned to a pole in public as a warning to others.

Source: Fox News World

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For two friends with checkered pasts it was the luck of a lifetime: a 4 million-pound ($5.2 million) lottery win.

But Mark Goodram and Jon-Ross Watson may see their celebrations cut short.

The Sun newspaper reports that Britain’s National Lottery is withholding the payout as it investigates whether the men, who have a string of criminal convictions, used illicit means to buy the winning ticket.

The Sun said neither man has a bank account, leading lottery organizers to investigate how they obtained the bank-issued debit card that paid for the 10 pound ($13) scratch card.

Camelot, which runs the lottery, said Friday it couldn’t confirm details of the story because of winner-anonymity rules. The firm said it holds a “thorough investigation” if there is any doubt about a claim.

Source: Fox News World

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