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A booth of Chinese smartphone maker Xiaomi is seen at an industrial design expo in Wuhan, Hubei province, China December 3, 2017. Picture taken December 3, 2017. REUTERS/Stringer
March 29, 2019
By Julia Fioretti
HONG KONG (Reuters) – Bankers in Asia are betting on newly-listed companies returning to the markets for fresh capital as last year’s flood of initial public offerings (IPOs) slows to a trickle, with 2019 seeing the weakest start in equity sales in three years.
Equity sales in the region, including IPOs, convertible bonds and follow-on sales, fell 41 percent to $49.1 billion in the first quarter, Refinitiv data show, the slowest since 2016.
Fees from equity capital market (ECM) deals have reached $966 million so far, bankers’ worst quarterly haul in six years.
The data make for a sobering read after 2018 when Asia’s red-hot markets hosted many multi-billion dollar IPOs, including SoftBank Corp’s $23.6 billion Tokyo float and Xiaomi’s $5.4 billion one in Hong Kong.
But bankers hope some of the gloom will be lifted as many of the companies that went public last year return for additional capital, making 2019 less a year of jumbo IPOs and more of follow-on capital raisings and convertible bonds.
“We are already seeing companies that went public last year coming back … with follow-on offerings,” said Goldman Sachs’ David Binnion, co-head of equity capital markets, Asia ex-Japan.
“In many situations these follow-on financings are coming sooner after listing than we have historically seen, reflecting the capital-intensive nature of these growth companies.”
Many firms that went public last year raised less than they had aimed for as investors pushed back against lofty valuations.
That will further drive follow-on activity, bankers said.
Chinese electric vehicle maker NIO, video streaming company iQIYI and e-commerce firm Pinduoduo, all 2018 IPOs, have come back to the market to raise funds.
NIO raised $750 million in a five-year convertible bond this year, four months after it went public in New York, while iQIYI raised $1.1 billion in six-year convertible bonds this week in its second such issue within a year of its IPO.
Pinduoduo raised $1.6 billion in a follow-on offering in February, the fourth-largest ECM transaction this quarter.
Asian companies have sold $21.3 billion in convertible bonds so far, a record for this point in any year.
(Graphic: Asia ECM fees since 2013 – https://tmsnrt.rs/2HJU9NG)
IPO SLOWDOWN
After a blockbuster IPO year for Asia in 2018, led by Hong Kong that hosted deals worth $36.3 billion – its best year in eight – 2019 is expected to be much slower.
“Some drivers of last year, such as mega IPOs out of China will probably be fewer,” said Murli Maiya, co-head of investment banking coverage for Asia Pacific for JPMorgan.
“There should be continued investor interest in IPOs, but likely at different price points and in different sectors.”
Hong Kong’s largest IPOs this year are likely to be from non-Chinese firms such as UK data centre operator Global Switch, which plans to raise $1 billion, and a spin-off of the Asian interests of the world’s largest brewer, Anheuser-Busch InBev, which could raise over $5 billion, sources say.
The largest IPO in Asia this year so far was the $687 million float of Embassy Office Parks REIT in India, the country’s first real estate investment trust IPO.
But bankers are optimistic the good performance of smaller IPOs, such as CStone Pharmaceuticals and Chinese broker Futu Holdings, will give investors confidence after the bleak performance of many newly-listed shares in 2018.
Despite the headline-grabbing amounts raised in IPOs last year, many companies languished below their offer prices with Sino-U.S. trade tensions keeping investors on tenterhooks.
Successful floats will give “investors the confidence that the IPO market is still an important contributor to performance and that’s important for the rest of 2019”, said Jason Cox, head of ECM, Asia Pacific for Deutsche Bank.
(Reporting by Julia Fioretti; Editing by Jennifer Hughes and Himani Sarkar)
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The entrance to Walt Disney studios is seen in Burbank, California, U.S. August 6, 2018. REUTERS/Lucy Nicholson
March 28, 2019
LOS ANGELES (Reuters) – Walt Disney Co will ban smoking, vaping and large strollers at its U.S. theme parks in California and Florida starting on May 1, the company said on Thursday.
The restrictions are designed in part to help deal with the large crowds expected to flock later this year to new “Star Wars”-themed attractions at Walt Disney World in Orlando, Florida, and at Disneyland in Anaheim, California.
Disney said in a blog post that it would remove designated smoking areas at Walt Disney World, Disneyland, water parks, the ESPN Wide World of Sports Complex in Florida and the Downtown Disney shopping district in California.
Smoking areas will be available outside park entrances and in Disney hotels, the company said.
Stroller size will be limited to 31 inches wide and 52 inches long, and no stroller wagons will be permitted. Disney said many strollers on the market, including many double jogging strollers, fit these specifications.
“These updates are intended to provide a more enjoyable experience for everyone who visits by, among other things, easing guest flow and reducing congestion,” Disney said.
Disney also banned loose ice, often brought in coolers to chill beverages, and dry ice to help speed bag checks at entrances. Reusable ice packs are allowed, and visitors can ask for free ice at food and beverage stands, the company said.
The 14-acre (5.67-hectare) “Star Wars: Galaxy’s Edge” sections will open May 31 at Disneyland and Aug. 29 at Walt Disney World.
(Reporting by Lisa Richwine; Editing by Richard Chang)
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Relatives look for a missing worker at the pesticide plant owned by Tianjiayi Chemical following an explosion, in Xiangshui county, Yancheng, Jiangsu province, China March 23, 2019. REUTERS/Aly Song
March 25, 2019
BEIJING (Reuters) – The death told from a massive explosion last week at a pesticide plant in eastern China rose to 78 on Monday, with 13 people listed as being critically injured, as the government again pledged stricter safely controls, state media reported.
Public anger over safety standards has grown in China over industrial accidents, ranging from mining disasters to factory fires, that have marred three decades of swift economic growth.
State television said 566 people were still being treated in hospital after Thursday’s blast at the Chenjiagang Industrial Park in Yancheng city, Jiangsu province on China’s east coast.
Air quality remained within a safe range, the report added.
The official Xinhua news agency said China would strengthen the control and management of dangerous chemicals, and conduct risk assessments for all chemical industry parks.
“Authorities at all levels should inspect enterprises that are involved in nitration manufacturing and storage to make sure they comply with regulations on dangerous chemicals,” Xinhua said, citing a statement from the Ministry of Emergency Management.
Despite repeated government pledges to tighten safety, disasters have hit chemical plants in particular, with 23 people killed in November in a series of blasts during the delivery of a flammable gas at a chemical maker.
In 2015, 165 people were killed in explosions at a chemical warehouse in the northern city of Tianjin, one of the world’s busiest ports, which is not far from the capital, Beijing.
(Reporting by Ben Blanchard; Editing by Himani Sarkar)
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FILE PHOTO: A wing of the Boeing 737 MAX is pictured during a media tour of the Boeing 737 MAX at the Boeing plant in Renton, Washington December 7, 2015. REUTERS/Matt Mills McKnight/File Photo
March 23, 2019
By Tracy Rucinski
CHICAGO (Reuters) – Teams from the three U.S. airlines that own 737 MAX jets were heading to Boeing Co’s factory in Renton, Washington, to review a software upgrade on Saturday, even as Southwest Airlines Co began parking its 34 MAXs near the California desert.
The factory visits indicate Boeing may be nearing completion of a planned software patch for its newest 737 following a fatal Lion Air crash in Indonesia last October, but the timing for a resumption of passenger flights on the jets remains uncertain.
Boeing and the Federal Aviation Administration, which must approve the software fix and new training, are under U.S. and global scrutiny since the MAX suffered a second deadly crash involving Ethiopian Airlines in Addis Ababa on March 10, which led to a worldwide grounding of the fleet.
The Allied Pilots Association (APA), which represents American Airlines pilots, said it has been in talks with Boeing, the FAA and airlines to get the airplanes flying again as soon as possible, albeit with an acceptable level of safety.
“Right now we’re in wait and see mode to see what Boeing comes up with,” Captain Jason Goldberg, a spokesman for APA, said on Saturday. “We’re hopeful, but at the same time the process can’t be rushed.”
APA is among a delegation of airline safety experts and pilots set to test Boeing’s software upgrade, meant to change how much authority is given to a new anti-stall system developed for the 737 MAX, in Renton.
The system, known as the Maneuver Characteristics Augmentation System, or MCAS, is suspected of playing a role in both disasters, which together killed 346 people.
Both crashes are still under investigation.
Southwest, the largest operator of the MAX in the world, and United Airlines said they would also review documentation and training associated with Boeing’s updates on Saturday. United has 14 MAXs while American has 24.
Meanwhile, Southwest said it was starting to move on Saturday its entire MAX fleet to a facility in Victorville, California, at the southwestern edge of the Mojave Desert, while the global grounding remains in effect.
“The planes being in one place will be more efficient for performing the repetitive maintenance necessary for stationary aircraft, as well as any future software enhancements that need to take place,” spokeswoman Brandy King said.
(Reporting by Tracy Rucinski; Editing by Tom Brown)
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A farmer holds rice in his hand in Khon Kaen province in northeastern Thailand March 12, 2019. REUTERS/Patpicha Tanakasempipat
March 22, 2019
By Patpicha Tanakasempipat and Panu Wongcha-um
KHON KAEN/SONGKHLA, Thailand (Reuters) – In the rice-growing heartland of Thailand’s northeast, Kamol Suanpanya, 80, meets in the off season with fellow farmers at a community center, where they discuss Sunday’s election, the first after nearly five years of military rule.
Like most in the area, Kamol will vote for Thailand’s largest party, Pheu Thai, whose government was overthrown in 2014. He is loyal because of policies like subsidies and low-cost health care pioneered by ousted premier Thaksin Shinawatra.
“I can tell you I will vote for Pheu Thai again,” said Kamol. “I haven’t changed my mind and I never will.”
Some 1,400 km (870 miles) to the south, a longtime stronghold of the anti-Thaksin Democrat party, rubber farmer Gorneena Pae-arlee isn’t so sure about her vote.
She has voted for the Democrats in the past, but says she will not do so again. Nor does she want junta leader Prayuth Chan-ocha to remain prime minister, as the new pro-military Palang Pracharat party is campaigning for.
“I want to vote for change,” said Gorneena, 52, who owns a big rubber plantation in Songkhla province.
Sunday’s general election has been cast as a struggle between democracy and military rule, with Thaksin’s Pheu Thai leading the charge for a “democratic front” against Palang Pracharat, the party backing Prayuth.
The pro-establishment Democrats are seen as a possible kingmaker.
But from north to south, farmers complain about hard times and growing mountains of debt since the military took over.
Many look to the election as a way out for what they say is an economy that seems to be growing but leaving them behind.
NORTH AND SOUTH
Thailand is the world’s largest exporter of rubber and second-largest of rice. Farming accounts for 30 percent of the work force, though only about 10 percent of the economy.
The rice-growing northeast and rubber-tapping south reflect the deep divide in Thailand’s polarized politics of the last 15 years.
Thaksin’s “red-shirt” supporters are mostly from the rice-growing northeast and north, whereas southern rubber farmers have come up to Bangkok at different times over the years to join anti-Thaksin “yellow-shirt” protests of middle-class voters who support the military and royalist establishment.
The unrest has led to bloodshed and two military coups, the first toppling former telecoms tycoon Thaksin in 2006, and the last one overthrowing a government that had been led by his sister, Yingluck.
The siblings live in self-exile to avoid convictions – corruption for Thaksin and negligence for Yingluck – handed down after they were ousted. They denied wrongdoing and said the charges were politically motivated.
After almost five years under a junta led by former army chief Prayuth, the rice-and-rubber divide still exists.
But while the north and northeast remain as pro-Thaksin as ever, some southerners said their support for the Democrat Party may be wavering.
LOW CROP PRICES
With new political parties on the scene and the price of rubber languishing, some farmers, like Gorneena, are considering the options.
“Rubber prices have suffered a lot, and nothing has improved under the military. I really want the new government to help fix this,” Gorneena said.
Thai benchmark rubber smoked sheets were trading at around 56.60 baht per kilogram this week, a far cry from a record 198.55 baht in 2011, according to Refinitiv data.
While the south’s rubber farmers are generally better off than their rice-growing counterparts, monthly income in the south declined by 2 percent to 26,913 baht ($850) per household from pre-coup 2013 to 2017.
That contrasts with average national income that grew roughly 7 percent, government data showed.
While several other rubber farmers interviewed said they would stick by the Democrats, a poll by Prince of Songkla University published last week signaled a weakening of their grip.
The poll showed 27 percent preferring the new, progressive Future Forward Party, compared with 24 percent for the Democrat Party, with Pheu Thai coming in at 19 percent and Palang Pracharat at 12 percent. It provided no margin of error.
HIGH DEBT
The plight of farmers from north to south comes as a stark contrast with Thailand’s top 1 percent, who own 66.9 percent of the country’s wealth, according to Credit Suisse’s 2018 Global Wealth Databook.
That makes Thailand the most unequal country in the world.
Southeast Asia’s second-largest economy expanded 4.1 percent in 2018, the fastest in six years. This year, the state planning agency predicts growth of 3.5-4.5 percent.
At the same time, household debt soared to a record 12.56 trillion-baht in the third quarter of 2018, or 77.8 percent of gross domestic product, central bank data showed.
For many Pheu Thai supporters, hard times have led to borrowing and left them pining for the party’s populist policies.
In the northeastern city of Khon Kaen, June Kit-Udom, who at 61 is the sole provider for her family of three, said she quit rice farming a few years ago because prices plunged following the 2014 coup.
She now works seven days a week at a recycling factory for 325 baht ($10.26) a day, but she says the tough work has resulted in spiking hospital bills.
“Life was better under Yingluck’s government. She helped us a lot with cash subsidy. This government gave us nothing,” June said.
Some 3.6 million households in the northeast are in debt, accounting for more than a third of the total, according to data by the National Statistics Office.
The northeast has the highest average debt per household of 179,923 baht ($5,680), and the lowest average income per capita at 6,656 baht ($210) per month.
Addressing inequality should be high on the agenda of the next government, said Thomas Parks, country representative of the Asia Foundation, a non-profit group focusing on development.
“Inequality and regional disparities are one of Thailand’s most fundamental challenges,” he said.
“We expect that any government, regardless of the election outcome, will make this a serious priority.”
(Additional reporting by Orathai Sriring in BANGKOK; Writing by Patpicha Tanakasempipat; Editing by Kay Johnson and Robert Birsel.)
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FILE PHOTO: Imam Ibrahim Abdelhalim of the Linwood Mosque holds hands with Father Felimoun El-Baramoussy from the Dunedin Coptic Church, as they walk at the site of Friday’s shooting outside the Mosque in Christchurch, New Zealand March 18, 2019. REUTERS/Edgar Su/File Photo
March 21, 2019
By Tom Lasseter
CHRISTCHURCH (Reuters) – Ibrahim Abdelhalim was at his mosque last week in the Linwood neighborhood of Christchurch, New Zealand, delivering a prayer as he usually does on Friday afternoons. The 67-year-old grandfather had already spoken about “tasting the sweetness of faith” as a Muslim obedient to God and willing to serve humanity.
He heard a pop-pop-pop in the distance.
The sounds got louder. Abdelhalim realized they were gunshots, but he continued. Abruptly ending the holy words mid-sentence would show a lack of respect in the face of God, he thought.
Abdelhalim immigrated from Egypt to Christchurch in 1995. The small city in a far-away island nation, some 16,000 kilometers from the poverty and corruption of Cairo, gave his family a better life. It sits in a tableau of pristine mountains and rolling fields, a place where he often forgot to lock his front door at night. Whatever was happening outside would probably be okay. Still, there were more than 80 people in the room in front of him and so, he said, “I tried to finish the prayer quickly.”
Then the bullets came crashing through the window of the mosque. They sprayed into bodies. People screamed, diving atop each other in jumbled piles. Abdelhalim saw his son but could not make it to where he lay. Further back, at the partition for women, Abdelhalim’s wife was also pinned down by gunfire, shot in the arm. Bullets thudded into a friend next to her, killing the woman. In the land that had become his sanctuary, Abdelhalim suddenly feared he was about to watch his family be slaughtered.
Police later named Brenton Tarrant, a 28-year-old Australian, as the alleged shooter in the massacre last Friday, which claimed 50 lives and left as many wounded.
Tarrant posted online a screed espousing white supremacist ideology and hatred of immigrants, authorities say. So far charged with one murder, Tarrant was remanded to custody without a plea Saturday, and is due back in court next month, when police say he is likely to face more charges.
The country’s prime minister, Jacinda Ardern, described a very different New Zealand in an address after the carnage. “We represent diversity, kindness, compassion,” she said, her voice at times cracking with emotion. “A home for those who share our values. Refuge for those who need it.”
Many victims in Christchurch had sought just that – leaving Somalia, Pakistan, Syria or Afghanistan for a better life, often with little in their pockets. Abdelhalim spoke of the city as a dream made real.
In Cairo, Abdelhalim said, he’d worked as a judge specializing in inheritance and tenancy cases. He lived in a well-heeled suburb, his parents a teacher and a government employee, his brother an officer in the Egyptian military. But he did not see the future he wanted for his three children in Egypt. Cairo had witnessed a president being assassinated by Islamic militants in 1981, and a string of bombs exploding in and around the city in 1993.
So the family moved to Christchurch, and Abdelhalim took the only job he could find, as a clerk at Work and Income, the government agency for employment services and financial assistance. “I tried to study law, but found it was very hard to begin again,” he said.
Nevertheless, his children were going to good schools and his family moved into a small brick home, where he still lives, with roses in the well-trimmed yard. A neighbor invited him over for tea, he said, “nearly every day.” The family got to know the woman at the post office, a local shopkeeper and just about everyone else.
Far from the chaos of Cairo, Christchurch is a place where men in straw hats and vests take tourists down the placid waters of the Avon River. It is a city of parks with birds chirping and a streetcar clanking past Cathedral Square.
Abdelhalim’s life grew along with the city. He opened a restaurant, named for his old home, Cairo. He became active in the Muslim community, working as the imam at a mosque called Al Noor.
When terrorists flew planes into the World Trade Center in New York in September 2001, Abdelhalim was the head of a local Islamic association. At the time, he said, there was a flare up of young people yelling at Muslims and trying to grab women’s headscarves. Abdelhalim responded by organizing community events at the mosque. In 2017, he took part in opening a multi-faith prayer space at the airport. “My only weapon,” he said, “is my tongue.”
He also helped start and agreed to be the imam, the religious leader, of the Linwood mosque as its doors opened early last year, though it was across the city from his house. The building, a former community center, sits amid signs for the Salvation Army, a pawnshop, the Super Liquor and the Value Mart. Its presence was a marker of growth in the city’s still-small Muslim community.
It was at another mosque, Al Noor, that the gunman first began shooting. He shot at men, women and children as he emptied one clip of ammunition and then the next, circling back to shoot once more just to be sure he’d killed as many Muslims as possible. He took more than 40 lives there. The gunman then got into his car and drove to Linwood, where Abdelhalim, a man with a carefully cut white beard, was beginning to pray.
In the back of the mosque, a 27-year-old man from Afghanistan named Ahmed Khan peeked out a window. The plump-faced Khan and his family had arrived in Christchurch 12 years earlier, leaving behind a nation torn by war.
“Someone called ‘help!’ and when I looked out the window, somebody was laying down, bleeding,” he said. Khan’s eyes flitted across the driveway and spotted a strange figure – a man wearing a helmet, standing in broad daylight with a rifle in his hands.
The man squeezed the trigger, Khan said, and a bullet flew through the window. Khan recalls calling out, “There’s someone with a gun!”
In the prayer area, where Abdelhalim had stood reciting holy words just moments before, people flung themselves on the ground in panic. Khan recalls cradling a man in his arms one moment and then, the next, the gunman “shot him when I was holding him, in the head. And he was dead.”
There was another Afghan in the room who rushed toward the door. In the gunfire that followed, seven people were killed. Khan said the toll almost certainly would have been higher if this second Afghan – Abdul Aziz, a short, muscular man who runs a furniture shop – hadn’t confronted the shooter.
Aziz grabbed a credit card machine and hurled it at the gunman, dodging bullets. He later chased the gunman with an unloaded shotgun that the shooter dropped as he went back for another weapon, then hurled it like a spear through his car window. With four of his children in the mosque, Aziz later said, he acted to protect his own piece of adopted homeland. “I didn’t know where my own kids were – if they are alive, if they are dead,” he said.
They’d survived, with one of his sons laid over a younger brother, protecting the smaller boy’s body with his own. Abdelhalim’s wife and son also made it out alive.
Now, in the aftermath of 50 dead in his city, Abdelhalim is trying to keep his family and his people together. They are left to navigate an issue that has confronted communities around the world after mass shootings: How, in the midst of suffering and rage, does normalcy and the peace they once knew return, if at all?
On Saturday afternoon, about 24 hours after the massacre, Abdelhalim walked out of a crisis response center in Christchurch. On the wall, there was a Wi-Fi login and password written on a piece of white paper: youarewelcome. A group of motorcycle club members had parked their bikes on the grass in a show of support. Burly men in black leather jackets milled about. A young man with the club’s name tattooed across the side of his face – “Tribesmen” – chatted with reporters. Police stood by with assault rifles.
Abdelhalim made his way carefully through the crowd in a dark suit with light pinstripes. Everyone was asking, he said, “can the peace of Christchurch come back?”
The gunman’s manifesto, released shortly before the attacks, said he was motivated to fight back against the “invasion” of immigration by non-whites. The actual number of Muslims in New Zealand is small – about one percent of the populace. At the 2013 census, the most recent figures available, the government reported a 28 percent rise in Muslims since 2006, along with jumps in Hindu and Sikh numbers.
On Sunday morning, Abdelhalim opened his front door at 9, wearing board shorts, flipflops and a worn collared shirt, instead of the suits he favors in public. He was exhausted. City authorities released a list of the dead past midnight at the Christchurch Hospital. Abdelhalim was there to speak with the bereaved. He’d gotten home from the hospital at some time after 2 a.m. and had barely slept.
The next day, standing on the other side of police tape from the mosque in Linwood, Abdelhalim was asked by a reporter for details of the shooting. Abdelhalim said he’d rather not say.
“I don’t need to repeat the story of what happened,” he said. “Because it breaks my heart.”
(Reporting by Tom Lasseter; Editing by Philip McClellan and Peter Hirschberg)
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Emergency services personnel transport a stretcher carrying a person at a hospital, after reports that several shots had been fired, in central Christchurch, New Zealand March 15, 2019, in this still image taken from video. TVNZ/via REUTERS TV
March 15, 2019
By Gerry Doyle
(Reuters) – Online accounts linked to gun attacks that killed 49 people and wounded at least 20 at two New Zealand mosques on Friday had in recent days circulated white supremacist imagery and extreme right-wing messages celebrating violence against Muslims and minorities on social media and message boards.
A gunman broadcast live footage on Facebook of the attack on one of the mosques. Police later said four people were in custody and one had been charged with murder over the country’s worst ever mass shooting.
On Wednesday, the Twitter handle @brentontarrant tweeted pictures of one of the guns later used in the mosque attacks in the city of Christchurch. It was covered in white lettering, featuring the names of others who had committed race- or religion-based killings; Cyrillic, Armenian and Georgian references to historical figures and events; and the phrase: “Here’s Your Migration Compact”.
The number “14” was written on the side of the rifle as well, a reference to the “fourteen words”, a white supremacist mantra.
Other tweets from the same user on that day included references to declining white fertility rates, articles about right-wing extremists in various countries and stories about purported crimes by illegal immigrants.
The Twitter profile had 63 tweets, 218 followers and was created last month.
A person involved with the attacks also appeared to post regularly to the “/pol/ – Politically Incorrect” forum on 8chan, a online discussion site known for allowing virtually any content, including hate speech.
About 1:30 p.m. (0030 GMT) on Friday, the anonymous user told the group “I will carry out and attack against the invaders, and will even livestream the attack via Facebook”; approving responses to the post included Nazi images and memes.
The post featured a link to a 74-page manifesto that said he was motivated by “white genocide”, a term white supremacists use to describe immigration and the growth of minority populations. It also linked to a Facebook page for a user called brenton.tarrant.9, where the attack was livestreamed.
“Social media has certainly shifted global security risks,” said Anwita Basu, an analyst at the Economist Intelligence Unit. “More than anything, social media has provided a platform for sharing extremist views.”
The @brentontarrant Twitter account was suspended not long after the shooting on Friday, as was the brenton.tarrant.9 Facebook page.
“Police alerted us to a video on Facebook shortly after the livestream commenced and we quickly removed both the shooter’s Facebook and Instagram accounts and the video,” Facebook tweeted. “We’re also removing any praise or support for the crime and the shooter or shooters as soon as we’re aware.”
YouTube, which is owned by Google, tweeted: “Our hearts are broken over today’s terrible tragedy in New Zealand.”
A Twitter representative said the social media company was “deeply saddened” by the shootings.
“Twitter has rigorous processes and a dedicated team in place for managing exigent and emergency situations such as this,” the company said in an emailed statement. “We also cooperate with law enforcement to facilitate their investigations as required.”
NO REMORSE
When the attack began on Friday, one anonymous 8chan user remarked: “actually happening. delete this thread now or its gonna be the end of 8pol.”
A few minutes later, another said “this sounds fun”. “Nice shootin Tex,” another commented.
The Facebook livestream of the attack, apparently recorded with a head-mounted camera, began about 1:40 p.m. local time. The attacker plays music as he drives to the mosque, including a British grenadiers march and a Serbian anti-Muslim hate anthem called “Remove Kebab”.
Once he arrives in the Hagley Park district of Christchurch, the attacker parks the car and opens the rear hatch, revealing a cache of guns, ammunition and what appear to be red fuel containers.
Picking up two guns, both covered in names and slogans, he walks around the corner to the entrance of a mosque and begins shooting.
The livestream ended less than 20 minutes later. The suspected shooter was arrested about 3 p.m.
“Do you feel any remorse for the attack”? the author asks self-referentially in the manifesto. “No. I only wish I could have killed more invaders, and more traitors as well.”
(Reporting by Jonathan Barrett, Joe Brock and Karishma Singh; Writing by Gerry Doyle; Additional reporting by Aleksandar Vasovic and Margarita Antidze; Editing by Alex Richardson)
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WASHINGTON — The good news about President Trump’s proposed 2020 budget is that it vividly illustrates the basic causes of large, chronic deficits — a mismatch between the government’s commitments and the taxes needed to pay for them. The bad news is that the budget does virtually nothing to close the gap.
“We must protect future generations from Washington’s habitual deficit spending,” said the president in his budget message. Actually, Trump would make matters worse.
Under his budget, the federal government would spend $4.7 trillion in fiscal 2020, a 15 percent increase from the $4.1 trillion of spending in 2018. With tax receipts at $3.6 trillion, the projected deficit is $1.1 trillion. Although the economy is at or near “full employment,” the annual deficit remains around $1 trillion until 2023 and then begins to decline, though it’s still in deficit by 2029 when the projections stop.
Even these figures are optimistic, because — as the Committee for a Responsible Federal Budget, a nonpartisan advocacy and research organization, says — “the budget is riddled with gimmicks and unrealistic assumptions.”
The most obvious of these is projected economic growth. The Trump administration argues that, under its policies, economic growth (the increase of Gross Domestic Product) will average about 3 percent over the next decade. By contrast, private forecasters predict growth at about 2 percent annually. Higher growth would mean billions of added tax revenues. Prudent policy would base its forecasts on the lower figure and hope that it’s too cautious.
The administration also erred in concentrating its steep spending cuts on “non-defense discretionary” programs — a catch-all that includes environmental protection, the Justice Department, low-income housing assistance, child care, national parks and many other agencies. The Center on Budget and Policy Priorities, a left-leaning advocacy group, reports that Trump’s proposals would reduce spending by 12 percent for the Department of Health and Human Services, 18 percent for the Department of Housing and Urban Development and 31 percent for the Environmental Protection Agency.
Congress, which sets spending, seems likely to resist such deep cuts. For example, Trump would cut college student-loan programs by tightening repayment requirements. Over a decade, the estimated savings would be $207 billion. This would almost certainly be unpopular. Similarly, Trump’s budget also includes a proposal to reduce federal payments to hospitals to cover their costs of unreimbursed care. Hospitals seem bound to fight that.
A final misunderstanding involves defense spending. Under the Trump budget, it receives a 5 percent increase in 2020, and this has been widely interpreted as a huge gain. That’s questionable. Although total military spending would rise, its long-term growth would be less than the economy’s rate of growth. In 2018, defense spending was 3.1 percent of GDP; by 2029, this share declines to 2.3 percent. The difference of almost 1 percentage point of GDP is (at today’s prices) about $200 billion.
What this country desperately needs is an honest debate over the role of government, discarding programs that do not qualify and paying for the rest with new taxes. The relevant cliche is the unpopular reality: Neither Republicans nor Democrats want to make tough choices. The main purpose of Trump’s budget seems to be re-electing Trump in 2020.
The budget, in short, is a fantasy. The actual deficits may be larger than the official figures.
But anyone who thinks Democrats are more responsible hasn’t been paying attention. It’s imperative to deal with the costs of retirees and health care, which are the largest part of the budget. For decades, Democrats have refused. Little has happened. And now Democrats back proposals (Medicare for all, guaranteed jobs, free college) that would raise spending even more.
Trump’s budget shows where the inattention has landed us. The proposal is so skewed that, just possibly, it will force our leaders to face the world as it is, not as we would like it. That’s a long shot, but it’s the only one we’ve got.
(c) 2019, The Washington Post Writers Group

Professor Pius Adesanmi, Director of The Institute of African Studies speaks about the department at the Carleton University in Ottawa, Canada in this still image taken from a video uploaded February 29, 2016. CARLETON UNIVERSITY via REUTERS
March 12, 2019
(Corrects flight number to ET 302 in first paragraph of this March 11 story.)
NAIROBI (Reuters) – A prize-winning author, a soccer official and a team of humanitarian workers were among those who perished in the crash of Ethiopian Airlines Flight ET 302, government officials and employers said on Monday.
Sunday’s crash, minutes after take-off from Addis Ababa for a flight to Nairobi, inflicted a particularly heavy toll on the United Nations, which has large offices in both cities.
At least 21 staff members were on board, said Stephane Dujarric, a U.N. spokesman.
The Addis Ababa-Nairobi route is also popular with tourists and business people, who are drawn to East Africa’s popular safari parks and fast-growing economies.
The 157 victims, including 149 passengers and eight crew members, came from more than 30 countries, the airline said. They included 32 Kenyans, 18 Canadians, nine Ethiopians and eight each from Italy, China and the United States.
There were no survivors.
UNITED NATIONS STAFF AND AID WORKERS
The number of U.N. staff members and aid workers from other agencies on board may have been higher than usual because of a week-long conference convened by the U.N. Environment Programme (UNEP) in Nairobi, which opened on Monday.
The dead included Joanna Toole, a British woman working as a fisheries consultant for the U.N. Food and Agriculture Organization, and Victor Tsang, a Hong Kong native who worked in Nairobi for the UNEP.
U.N. Secretary-General Antonio Guterres said the world body was in grief.
“Our colleagues were women and men – junior professionals and seasoned officials – hailing from all corners of the globe and with a wide array of expertise,” Guterres said. “They all had one thing in common – a spirit to serve the people of the world and to make it a better place for us all.”
The WFP said it had seven staff members on board. They included Michael Ryan, a 39-year-old engineer from Ireland.
“Michael was doing life-changing work in Africa with the World Food Programme. Deepest sympathies to family, colleagues & friends,” Irish Prime Minister Leo Varadkar said on Twitter.
Also among the dead were four Catholic Relief Services employees from Ethiopia. Sara Chalachew, Getnet Alemayehu, Sintayehu Aymeku and Mulusew Alemu were headed to Nairobi for training, their employer said.
Josefin Ekermann, 30, who worked for the Stockholm-based Civil Rights Defenders, was among at least four Swedish citizens on the flight, according to her NGO and government.
Karoline Aadland, a 28-year-old Norwegian Red Cross worker, was also on her way to Kenya for work, her employer said. She had recently gotten married.
ACADEMICS
Pius Adesanmi, a Nigerian-born professor with the English Language and Literature Department at Carleton University in Ottawa, was among the victims from Canada.
He was awarded the Penguin Prize for African Writing in non-fiction in 2010 for a collection of essays titled, “You’re Not a Country, Africa!”
“Pius Adesanmi was a towering figure in African and post-colonial scholarship, and his sudden loss is a tragedy,” said Benoit-Antoine Bacon, the university’s president.
A fellow writer, the Nigerian satirist Elnathan John, said his friend had recently been injured in a car accident. He recalled hosting Adesanmi in Berlin recently.
“He was still limping a bit,” John said on Twitter. “He told me how lucky he was to survive his car crash. He loved his hotel. We laughed about dressing alike.”
The Italian victims included Sebastiano Tusa, an archaeologist and councillor for cultural affairs in the regional government of Sicily. He was traveling to Kenya for a UNESCO conference on protecting underwater cultural heritage in East Africa, according to Italian media reports.
Glato Kodjo, a professor of Botanical Studies at the University of Lomé in the west African nation of Togo, and two lecturers at Kenyatta University in Nairobi, Agnes Kathumbi and Isaac Mwangi Minae, were also reported killed.
KENYANS
Kenya suffered the heaviest losses with at least 32 citizens killed.
Jared Mwazo Babu, who founded a Nairobi-based marketing agency, and his wife, Mercy Ndivo, both died, colleagues confirmed. They left behind a 15-month-old daughter.
The Tamarind Group, a Kenyan restaurant and leisure company, said it lost its chief executive, Jonathan Seex.
Also among the dead were Grace Kariuki, an epidemiologist working for the Centers for Disease Control and Prevention in Nairobi, and Hussein Swaleh, a senior official with the Football Kenya Federation (FKF), their employers said.
Swaleh was returning to Nairobi from Egypt, where he served as a match commissioner in Friday’s African Champions League game between Ismaili and TP Mazembe Englebert
“Football has indeed lost a dedicated and hardworking individual that lived the game,” FKF said.
FAMILIES IN MOURNING
Anton Hrnko, a lawmaker from Slovakia, shared his “deep grief” after his wife, Blanka, and two grown children, Martin and Michala, died in the crash.
They were among four Slovaks killed. The fourth victim was identified as Danica Olexova, an aid worker.
Husband and wife Aleksandr and Ekaterina Polyakov, who both worked for Russia’s Sberbank, were among at least three Russians on board. They were on holiday when they died, local media reported.
Alalo Christine, a senior police officer from Uganda on assignment with the African Union peacekeeping mission in Somalia, also died in the crash, Uganda’s police force said. She was returning to the Somali capital Mogadishu from Italy.
(Reporting By Maggie Fick, Katharine Houreld, Hereward Holland, Humphrey Malalo, Omar Mohammed, John Ndiso and George Obulutsa in Nairobi, Gwladys Fouche in Oslo, Padraic Halpin in Dublin, Denny Thomas in Toronto, Giselda Vagnoni in Rome, Anna Ringstrom in Stockholm and Tatiana Jancarikova in Bratislava.; Writing by Maggie Fick; Editing by Alexandra Zavis/Mark Heinrich)
Source: OANN
Advocates for gun rights and gun control are expected to pack a Connecticut legislative hearing on several firearms bills, including measures that would tighten safe storage laws and require people openly carrying guns to produce their permits if police ask.
The legislation to be debated Monday at a Judiciary Committee public hearing in Hartford has spurred a flood of written testimony that has been submitted to the panel, both for and against the bills.
The safe storage proposal was drafted in response to the death of 15-year-old Ethan Song, who accidentally shot himself in the head with a handgun owned by his friend's father in their hometown of Guilford in January 2018.
The friend's father had kept his three guns secured with gun locks in a plastic container in his bedroom closet, but the keys to the locks and ammunition also were in the container, police said. Prosecutors said they could not charge the friend's father under the state's existing safe gun storage law, because it requires only loaded guns to be safely stored and there was no evidence the guns were stored loaded.
Gun control advocates including Ethan's mother, Kristin Song, said the new bill, called "Ethan's Law," would save lives by requiring all guns — loaded or unloaded — to be safely stored. Violating the law would be a felony carrying a prison sentence of one to five years.
"Ethan's death was completely preventable, if only the father had securely stored his guns," Kristin Song wrote in an email to The Associated Press. "That's why I'm fighting to pass 'Ethan's Law,' to strengthen Connecticut's safe storage requirements."
Some gun rights supporters are opposing the bill because they believe it would make accessing their guns more difficult during home invasions and burglaries.
Scott Wilson, president of the Connecticut Citizens Defense League, said the gun rights advocacy group is ready to support the bill, but only if it includes a requirement to educate school-age children about gun safety.
Another one of the most talked-about bills would require people who are openly carrying firearms to produce their gun permits if their firearms are visible and if police request them. Current law requires people to produce their gun permits for police, but only if police have a "reasonable suspicion of a crime" — a requirement that would be eliminated in the new bill.
Gun rights advocates say the bill reminds them of New York City's former "stop and frisk" policy — which was ruled unconstitutional in 2013 and criticized as discriminatory against minorities — and believe it would violate people's Fourth Amendment right against unreasonable searches and seizures.
"This bill clearly targets individuals that have followed the law and have gone through the permit process," Paul Acampora, of Woodbridge, wrote to the committee. "Removing 'reasonable suspicion of a crime' from the current statutes is a bad idea, and allows police officers to 'stop and frisk' for no reason."
Supporters of the bill say that they would feel safer on the streets and that public safety would be protected if people were required to show their permits.
Other gun bills up for discussion at the public hearing would:
— Prohibit cities and towns from imposing their own firearms regulations.
— Ban guns without serial numbers, and regulate so-called "ghost guns" that are assembled by owners or made with 3D printers.
— Allow people to carry handguns in state parks and state forests for self-defense.
— Require safe storage of guns in motor vehicles.
— Allow the transfer of assault weapons and large-capacity magazines between people who already legally possess such weapons and magazines.
Source: NewsMax America
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