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Darfur justice could prove elusive despite al-Bashir’s fall

Sudan's President Omar al-Bashir, driven from power and now languishing in a prison where his opponents were once jailed and tortured, is more vulnerable than ever to a decade-old international arrest warrant for war crimes committed in Darfur.

But the military, which forced him from power after four months of mass protests, says it won't extradite him to the International Criminal Court at the Hague.

Even many of al-Bashir's opponents are reluctant to hand him over to the ICC, saying they prefer to bring him to justice in Sudan.

Any attempt to hold him and other top officials accountable could pose risks to the transition to civilian rule sought by the protesters.

The Darfur conflict broke out in 2003, eventually killing an estimated 300,000 people and displacing some 2.7 million.

Source: Fox News World

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China’s nationwide pollution readings rise 5 percent in January-February

People are seen in a traditional alleyway on a polluted day in central Beijing
People are seen in a traditional alleyway, or Hutong, on a polluted day in central Beijing, China March 2, 2019. REUTERS/Jason Lee

March 21, 2019

SHANGHAI (Reuters) – China’s average concentrations of lung-damaging particles known as PM2.5 rose by 5.2 percent in the first two months of the year, the environment ministry said on Thursday, casting doubt over the country’s ability to meet winter targets.

The nation’s average PM2.5 readings came in at 61 micrograms per cubic meter for January and February, according to a Ministry of Ecology and Environment survey of 337 cities, with only 83 reaching the national standard of 35 micrograms.

Levels of PM2.5 at 28 cities in the key pollution control region of Beijing-Tianjin-Hebei soared 24 percent over the two-month period from the same time a year ago to an average of 108 micrograms, more than 10 times 10 micrograms recommended as safe by the World Health Organization.

Meanwhile, PM2.5 levels in the 11 cities of the Fenwei Plain, another major smog control zone, surged by 26.6 percent over the period, hitting an average of 119 micrograms.

China forced smog-prone northern cities to implement special emissions restrictions from October 2018 to March 2019 in order to offset rising levels of coal combustion from state heating systems during the winter.

But Reuters calculations based on official data showed that PM2.5 readings in the 39 key northern cities still rose 13 percent over the October-February period.

The 39 cities are under pressure to make year-on-year PM2.5 cuts of around 3 percent from October to March, but Reuters calculations show that only three – Changzhi and Luliang in Shanxi province, and Jining in Shandong – were on course to meet their targets at the end of last month.

The government has previously blamed unfavorable weather conditions for the poor air quality over the period, saying that “a weak El Nino effect” and a subsequent increase in temperature and humidity has made it harder to disperse emissions.

The ministry has promised to crack down on regions that fail to meet targets, regardless of weather conditions, but it remains unclear what punishments they will face.

The provinces of Hebei and Shanxi, where eight of China’s smoggiest cities were located in 2018, have established a “punishment and reward system” in which the worst-performing districts pay fines to regions that have performed the best.

On Wednesday, Hebei published a list of 14 districts that failed to meet 2018 targets, including major industrial zones in Tangshan, China’s biggest steel-producing city.

Communist Party bosses from each of the 14 districts were summoned to the provincial environmental protection bureau to receive public criticism, the provincial government said in a notice.

(Reporting by David Stanway; Editing by Tom Hogue and Richard Pullin)

Source: OANN

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Singapore central bank chief says policy ‘appropriate’ but monitoring data

A view of the Monetary Authority of Singapore's headquarters in Singapore
A view of the Monetary Authority of Singapore's headquarters in Singapore June 28, 2017. Picture taken June 28, 2017. REUTERS/Darren Whiteside

February 27, 2019

By Anshuman Daga

SINGAPORE (Reuters) – Singapore’s monetary policy stance remains appropriate, the city-state’s central bank’s chief said on Wednesday, in comments that follow a disappointing run of recent economic data.

“Our monetary policy remains appropriate,” Monetary Authority of Singapore’s (MAS) managing director, Ravi Menon said at Citi’s annual Asia Pacific conference on Wednesday.

This comes after Singapore reported its slowest on-year economic growth in the fourth quarter, its biggest fall in exports and the biggest fall in factory output in more than two years.

The MAS, which manages policy through changes to the exchange rate rather than interest rates, tightened monetary settings at both of its semi-annual meetings last year. Its policy announcement last April was its first monetary policy tightening in six years.

The MAS holds its next monetary policy decision in April.

“Two months is a long time, so we will see how it looks like then,” Menon added. “We are also watching how the data pans out”.

Earlier this week, the MAS and the trade ministry also revised its 2019 headline inflation forecast downwards, from 1-2 percent to 0.5 to 1.5 percent. However, core inflation– a more closely watched indicator for monetary policy– rose within the MAS forecast range.

“If you look at the current situation, it’s not very different to what we had expected in October,” Menon said. He termed the latest core inflation number as “well within the range” and “pretty well behaved”.

Trade tensions between the United States and China coupled with a slowing global economy has pushed central banks across Asia toward monetary easing.

The actions and pronouncements by central banks in Asia, Menon said, “have been very consistent with the state of their economies”.

“The by-words now have become patience and flexibility,” he added.

(Reporting by Anshuman Daga, Writing by Fathin Ungku; Editing by Sam Holmes)

Source: OANN

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Huawei to open first flagship store outside China in Vienna

Mobile phones are seen at Huawei store in Madrid
Mobile phones are seen at Huawei store in Madrid, Spain February 7, 2019. REUTERS/Juan Medina

February 21, 2019

VIENNA (Reuters) – Huawei is to open a smartphone flagship store in Vienna, its first such outlet outside China, as part of a charm offensive in Europe where its future hangs in the balance.

The world’s biggest producer of telecoms equipment is under scrutiny in the West over its relationship with the Chinese government and U.S.-led allegations of enabling state espionage, with Washington asking allies not to use Huawei’s technology.

Huawei has repeatedly denied the allegations and did again at a news conference in Vienna on Thursday.

Joe Kelly, Vice President of Corporate Communications said at the news conference: “We have never been asked by any government or any authority anywhere in the world… to do anything that would compromise or jeopardize… the security of customer networks.”

“If we ever are asked to do so, we will refuse,” Kelly said.

Huawei has deals with all three major Austrian telecoms groups: A1 Telekom Austria, controlled by Mexico’s America Movil, Deutsche Telekom’s T-Mobile Austria and Hutchison Whampoa’s Drei Austria.

The company is ready to help them build 5G infrastructure for the next generation mobile networks, the CEO of Huawei’s Austrian business said.

“We are more than ready to support Austria on its way to becoming a 5G pioneer with our know how and our solutions,” Pan Yao said.

Austria, a laggard in the European Union for fast broadband connections, wants to become a 5G pioneer in Europe. It is among the first in the European Union to auction the licenses. Results of the 3.4 to 3.8 GHz band auction, which will mainly speed up data services in densely populated areas, are expected within weeks.

The allegations against Huawei have led several Western countries to restrict the company’s access to their markets and the European Union to consider proposals that could amount to a de facto ban.

Austria’s technology ministry on Thursday reaffirmed it was aiming for a European stance on whether or not to allow the Chinese firm to equip 5G networks.

“Our priority is to protect our networks,” a spokesman for the technology ministry said, adding that he was not aware of concrete suspicions against Huawei.

Huawei, which says it is the second biggest smartphone seller in Austria with a market share of 28 percent, said it was considering whether to invest in research and development in the country but did not provide any details.

It plans to open its Vienna flagship store in the summer.

(Reporting by Kirsti Knolle. Editing by Jane Merriman)

Source: OANN

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Pakistan asks UN to help defuse tensions with India

Pakistan's foreign minister has written a letter to the U.N., asking it to help de-escalate and defuse tensions with India after a suicide bombing last week in India's sector of disputed Kashmir region killed at least 41 Indian troops.

New Delhi has blamed Islamabad and warned of a "jaw-breaking response." Pakistan has condemned the attack and also cautioned India against linking it to the bombing without an investigation.

The foreign ministry said on Tuesday that Pakistan's top diplomat, Shah Mahmood Qureshi, informed U.N. Secretary-General Antonio Guterres in his letter that "for domestic political reasons, India has deliberately ratcheted up its hostile rhetoric against Pakistan and created a tense environment."

India and Pakistan each administer a part of Kashmir and have fought two of their three wars over it.

Source: Fox News World

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Climate change, social care are top issues in Finnish vote

Finns are voting in a parliamentary election in which reforming the nation's generous welfare model and tackling climate change have emerged as key issues.

Sunday's vote in the European Union member of 5.5 million people is taking place in a Nordic country that has one-third of its territory above the Arctic Circle.

The center-left Social Democratic Party tops a recent poll with 19% support. The populist Finns Party, however, is polling in second place with 16% support and has been gathering momentum among voters who find the climate change sacrifices proposed by other political parties too daunting.

Some 36% of eligible voters have already cast their ballot in advance, choosing between 2,500 candidates from 19 political parties and movements for the Eduskunta legislature's 200 seats.

Source: Fox News World

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Trump Calls Mueller Probe a ‘Coup,’ Says Hillary Destroyed Lives

President Donald Trump on Thursday called the Mueller probe a "coup," and said Hillary Clinton destroyed the lives of people on his presidential campaign.

"This was a coup. This was an attempted overthrow of the United States government," he told host Sean Hannity during an appearance on Fox News.

"We had people coming out to vote from all over this country that are in love with what we're doing. It's called Make America Great Again, and that's what we've done and what we're doing. This was an overthrow, and it's a disgraceful thing. I think it's far bigger than Watergate. I think it's possibly the biggest scandal in political history in this country."

"This was a coup. This wasn't stealing information from an office in the Watergate apartments," he added, referring to the scandal that led to former President Richard Nixon's resignation. "This was an attempted coup. Like a third world country. Inconceivable. I think a lot of information is coming out, and it's coming out fast, much faster than anybody would have thought, and there are a lot of people very nervous about things that are going on."

Trump's phone call into the show came a day after Clinton published a column in The Washington Post calling for Congress to be "deliberate, fair, and fearless," in continuing Mueller's work by holding substantive hearings that build on the report "and fill in its gaps."

Source: NewsMax America

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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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