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The Latest: Concern grows over UAE-based oil tanker  » 
16 Jul 2019, 9:46

The Latest: Concern grows over UAE-based oil tankerTracking data shows an oil tanker based in the United Arab Emirates traveling through the Strait of Hormuz drifted off into Iranian waters and stopped transmitting its location over two days ago, raising concerns about its status amid heightened tensions between Iran and the U.S. It's not immediately clear what happened to the Panamanian-flagged oil tanker Riah late on Saturday night. Iranian officials haven't said anything publicly about the ship, nor have officials in the UAE.


Macron Sticks to Demand for Deep EU Reform Before New Expansion  » 
16 Jul 2019, 8:03

Macron Sticks to Demand for Deep EU Reform Before New Expansion(Bloomberg) -- French President Emmanuel Macron stuck to his demand for deep reforms in the European Union before it accepts new members, telling biggest candidate Serbia that premature entry would benefit no one.Leaders across the Balkans have expressed frustration at what they say is stalling by the EU over when they can become part of the world’s biggest trading bloc. While most member are wary of taking in new members, Balkan leaders are struggling to explain the delay to their 18 million citizens who see entry as a guarantee toward higher pay and less corruption.Concerns flared two weeks ago when, after a marathon session of wrangling over who will take the EU’s top jobs, Macron said there would be no further enlargement unless “deep reform” of the EU happens first. During a visit to Serbia Monday, where he met President Aleksandar Vucic, Macron again said that “Serbia is destined to join” but that expanding the bloc without changing the way it makes decisions would cause problems for everyone.“Entering too quickly wouldn’t be good for Serbia, nor would it be for the EU,” Macron said, adding that even setting an entry timetable could backfire. “We must not lock ourselves in to a calendar with a date, because if we fail it would be seen as a failure.”The last country to become an EU member was Croatia, in 2013. Outgoing Commission President Jean-Claude Juncker said the earliest that any of the six remaining aspirants would be able to join is around 2025.For Serbia, the biggest hurdle is resolving relations with Kosovo. Backed by Russia and China, it refuses to recognize its neighbor’s unilaterally declared independence since 2008 and has blocked its efforts to join the United Nations and other international organizations.EU-mediated talks between Serbia and Kosovo all but collapsed last year when the latter imposed punitive 100% tax on products from Serbia and from Bosnia-Herzegovina, retaliating for Serb lobbying against its international recognition. Kosovo has ignored calls from EU states to lift the barrier.Vucic said he expected France’s help “in the search for a compromise.” He also said that Serbia embraced the changes that it had committed to as part of EU entry.“For us, it’s important to reform ourselves, to do our part of the work, for the sake of our people to do good and that our economy makes progress.”Macron’s visit followed France-based Vinci Airports venture into Serbia with a 25-year concession for Aerodrom Nikola Tesla, while a unit of Suez Groupe SAS won an equally long contract in Belgrade, the capital. Alstom SA is also vying to build a subway in Belgrade, where the two first lines may cost $4.5 billion.(Updates with map of EU aspirant states.)To contact the reporters on this story: Misha Savic in Belgrade at msavic2@bloomberg.net;Gordana Filipovic in Belgrade at gfilipovic@bloomberg.net;Helene Fouquet in Paris at hfouquet1@bloomberg.netTo contact the editors responsible for this story: Irina Vilcu at isavu@bloomberg.net, ;Andrea Dudik at adudik@bloomberg.net, Michael WinfreyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.


Pakistan reopens airspace, ending months of flight restrictions  » 
16 Jul 2019, 5:28

Pakistan reopens airspace, ending months of flight restrictionsPakistan on Tuesday fully reopened its airspace for all civilian traffic, ending months of restrictions affecting major international routes including from India after clashes between the nuclear-armed rivals brought them to the brink of war. "With immediate effect Pakistan airspace is open for all type of civil traffic," the state-run Civil Aviation Authority (CAA) said. A CAA spokesman confirmed to AFP that the eastern airspace along the border with India had been reopened.


Iran's top diplomat warns US is 'playing with fire'  » 
16 Jul 2019, 2:47

Iran's top diplomat warns US is 'playing with fire'Iranian Foreign Minister Mohammad Javad Zarif warned Monday that the United States is "playing with fire," echoing remarks by President Donald Trump as the two sides are locked in a standoff over Tehran's nuclear program. The United States quit an international deal aimed at curbing Iran's nuclear program last year, hitting Tehran with crippling sanctions.


1 dead, 15 hurt in California home gas explosion  » 
16 Jul 2019, 2:27

1 dead, 15 hurt in California home gas explosionA natural gas explosion destroyed a Southern California home, killed a gas company worker and injured more than a dozen other people Monday, authorities said. Firefighters and Southern California Gas Co. workers went to the home after a report that a contractor had damaged a gas line. Firefighters arrived about an hour before the blast, which occurred shortly after noon.


Salvadoran accused of abortion faces retrial, hefty sentence  » 
16 Jul 2019, 2:23

Salvadoran accused of abortion faces retrial, hefty sentenceA young woman who gave birth to a baby in an outhouse toilet in El Salvador was back in court Monday facing a second trial for murder in a case that has drawn international attention because of the country's highly restrictive abortion laws. Evelyn Beatriz Hernández, who says she is a rape victim and had no idea she was pregnant, had already served 33 months of her 30-year sentence when the Supreme Court overturned the ruling against her in February and ordered a new trial, with a new judge. It is the first retrial of an abortion case in a country that aggressively pursues legal cases against women who have experienced miscarriages and obstetric emergencies, accusing them of murder.


Teen girl brutally killed before photos of her body posted on social media, New York police say  » 
16 Jul 2019, 1:51

Teen girl brutally killed before photos of her body posted on social media, New York police sayThe brutal killing of 17-year-old Bianca Devins is drawing international attention after her alleged killer shared images of the slaying online.


Lightening Deal Alert: MasterChef's 13-In-1 Pressure Cooker Is 47 Off Right Now  » 
16 Jul 2019, 0:38

Lightening Deal Alert: MasterChef's 13-In-1 Pressure Cooker Is 47 Off Right Now


New Zealand PM 'utterly' disagrees with Trump tweets  » 
16 Jul 2019, 0:15

New Zealand PM 'utterly' disagrees with Trump tweetsNew Zealand Prime Minister Jacinda Ardern on Tuesday joined international condemnation of US President Donald Trump's xenophobic tweets about progressive Democrat congresswomen. Ardern, the charismatic young leader who has been hailed as "the anti-Trump" by US media, said she proudly celebrated her country's diversity. "Usually I don't get into other people's politics, but it will be clear to most people that I completely and utterly disagree with him," Ardern told Radio New Zealand.


Michael Flynn’s Ex-Business Partner Points the Finger at Him in Court  » 
16 Jul 2019, 0:07

Michael Flynn’s Ex-Business Partner Points the Finger at Him in CourtPhoto Illustration by Lyne Lucien/The Daily Beast/GettyIf there is a question of who worked on behalf of the Turkish government to influence the 2016 Donald Trump campaign, then the court should look no further than former National Security Adviser Michael Flynn, lawyers for Bijan Kian, the Iranian-American businessman and former Flynn partner, told jurors in the Eastern District of Virginia Monday. Kian is charged with two felonies—illegally lobbying on behalf of the Turkish government and conspiring covertly to influence U.S. politics about Fethullah Gulen, a Turkish cleric who is now living in Pennsylvania. He faces a maximum of 15 years in prison if convicted. But Kian’s team of attorneys said in their opening statements Monday that their client “did not conspire with anyone” to work on behalf of the Turkish government in the U.S. When questioning the Turkish government’s influence operations in the U.S., the jury should look at the newly announced cache of evidence the government has on Flynn, said attorney Bob Trout. Kian isn’t referenced in any of it, Trout said. Michael Flynn Putting Mueller Deal at Risk in ‘Dangerous’ New TrialIn the opening statements Monday the Kian legal team spent the majority of their time arguing that their client did not work on behalf of the Turkish government when he attempted to influence public opinion in the U.S. about Turkish cleric Fethullah Gulen. Gulen currently lives in Pennsylvania and is wanted by the Turkish government for allegedly planning a military coup in the country in 2016. Kian instead worked on behalf of a Turkish-Dutch businessman named Ekim Alptekin, Trout said. (Alptekin is named as a defendant in the Kian case but will likely avoid appearance because he is living in Istanbul.) Toward the end of his statements, Trout tried to create a degree of separation between Kian and Flynn who is currently awaiting sentencing in Washington for crimes carried out during his time working with the Trump team. He pointed to the government’s evidence, which was mentioned in a hearing last week, and said that prosecutors had all but conceded that Kian was not involved. The jurors have not seen the evidence yet and the details of what the government currently has in its position is unclear.According to a government indictment filed last year, Flynn and Kian worked together throughout the fall of 2016, when Flynn was an advisor to then candidate Trump, on a project to try and extradite Gulen back to Turkey. Prosecutors said the two took hundreds of thousands of dollars from the Turkish government to execute the plan. Flynn was also at the time accused of lying about his communications with Russian Ambassador Sergei Kislyak. He entered into a cooperation deal with Special Counsel Robert Mueller and admitted to lying about the communications and about his consulting firm’s business with the Turkish government. He said that the registration he filed for the Turkey-focused project in 2017 contained several inaccuracies, though his lawyers maintain that Flynn did not intentionally lie on the documents. As part of his deal with the government, Flynn was supposed to testify against Kian and his sentencing in Washington was postponed so he could appear as a witness in Virginia.That all changed last week when the government removed Flynn from the witness list and instead named him as a co-conspirator in the case. The government also said it had extensive information that the Turkish government attempted to influence the Trump campaign through Flynn. It was the first mention of an additional set of materials that show how Flynn was being extensively involved in the Turkish lobbying.It’s that evidence that lies at the heart of who really committed the crime of illegally lobbying for Turkey, Kian’s lawyers said Monday. Kian “didn’t know” about the alleged separate communications between Alptekin and Flynn that are in the government’s possession, Trout said.For its part, the government in its opening statement barely mentioned the former national security adviser, instead referring several times to Kian’s business team members as “associates.” The government focused on Kian’s email correspondences, including with Flynn, about the Gulen project and attempted to lay out for the jury how the money that flowed into Kian’s account for services rendered connected back to the Turkish government.After nearly an hour and a half of opening statements, both of which were at times tangled and difficult to follow, the jury seemed to fade by 5:30 p.m. Several individuals closed their eyes and appeared to be sleeping.They’re due back in court Tuesday morning for testimony, including evidence to be entered into the record and for witness examinations.Read more at The Daily Beast.Get our top stories in your inbox every day. Sign up now!Daily Beast Membership: Beast Inside goes deeper on the stories that matter to you. Learn more.


EU agrees measures against Turkey for Cyprus drilling  » 
16 Jul 2019, 0:04

EU agrees measures against Turkey for Cyprus drillingThe European Union on Monday agreed measures to punish Turkey for pursuing drilling operations off Cyprus despite repeated warnings. The EU will halt high-level dialogue with Turkey, suspend talks over an aviation agreement and cut 145.8 million euros ($164 million) in pre-accession financial funds allocated for 2020. Foreign ministers from the bloc also told the European Commission, the bloc's executive, to keep working on possible financial sanctions targeting those involved in the drilling operations.


Geraldo Rivera on Trump's controversial tweets: It pains me to watch Trump take the low road  » 
15 Jul 2019, 23:32

Geraldo Rivera on Trump's controversial tweets: It pains me to watch Trump take the low roadTrump embroiled in feud with progressive Democrats following tweet about congresswomen of color; reaction from Fox News correspondent-at-large Geraldo Rivera and Fox News contributor David Webb.


Prosecco Grapes, Kiwi Pops, and More Easy Fruit Desserts  » 
15 Jul 2019, 21:31

Prosecco Grapes, Kiwi Pops, and More Easy Fruit Desserts


Iran Loves This: The Royal Navy Doesn’t Have Enough Ships to Patrol Persian Gulf  » 
15 Jul 2019, 20:56

Iran Loves This: The Royal Navy Doesn’t Have Enough Ships to Patrol Persian GulfThe Royal Navy plans briefly to double its number of warships in the Persian Gulf following an attempted attack by Iranian forces on a British oil tanker on July 20, 2019.But the temporary increase in British warships in the region, from one to two, underscores just how few ships the Royal Navy can deploy even in an emergency.Iranian boats tried to “impede” the British oil tanker near the Strait of Hormuz, the BBC reported. HMS Montrose, a Type 23 frigate, “was forced to move between the three boats and the tanker,” according to the BBC.The British government claimed the attacking boats belonged to the Iranian Revolutionary Guard Corps militia. The IRGC also allegedly was behind several recent bomb attacks targeting oil tankers in the Gulf and surrounding waters.Tensions have escalated in the Middle East following U.S. president Donald Trump decision unilaterally to withdraw the United States from the 2015 deal limiting Iran’s nuclear program. After Trump restored economic sanctions, Tehran resumed stockpiling uranium.The July 2019 tanker incident compelled the Royal Navy to accelerate by several weeks a planned deployment to the Gulf by the Type 45 destroyer HMS Duncan. Montrose and Duncan together will patrol the Persian Gulf before Montrose returns to U.K. waters for maintenance.Duncan sailed south through the Bosphorus on July 13, 2019. The destroyer had been in the Black Sea region for NATO exercises.


Trump Aide Kellyanne Conway Skips House Hearing Despite Subpoena  » 
15 Jul 2019, 20:35

Trump Aide Kellyanne Conway Skips House Hearing Despite Subpoena(Bloomberg) -- White House counselor Kellyanne Conway won’t appear at a House hearing Monday on whether she violated a law prohibiting administration officials from engaging in political work while on the public payroll.President Donald Trump directed her to skip the hearing “in order to protect the prerogatives of the Office of the President,” White House Counsel Pat Cipollone said in a letter to House Oversight and Government Reform Chairman Elijah Cummings.The Department of Justice, he wrote, “has advised me that Ms. Conway is absolutely immune from compelled congressional testimony with respect to matters related to her service as a senior adviser to the president,” Cipollone wrote.Cummings said at the hearing, which proceeded without Conway, that he would hold a vote on July 25 to hold her in contempt of Congress.She was the only witness listed for a scheduled hearing of Cummings’ panel titled “Violations of the Hatch Act Under the Trump Administration.” The Democratic-controlled committee voted last month to subpoena her after she previously refused to testify.The government’s independent Office of Special Counsel said in June that Conway had repeatedly violated the law and should be fired. Conway and the White House have criticized the OSC for its finding, calling it a violation of Conway’s First Amendment rights, and Trump has said he won’t dismiss her.The OSC has said she broke the law by “engaging in both official and political activity on her Twitter account, @kellyannePolls” and by attacking Democratic presidential candidates in media interviews.Conway has “ignored OSC’s requests” to come into compliance with the Hatch Act and has declined to respond to the office’s reports, it said.“If Ms. Conway were any other federal employee, her multiple violations of the law would almost certainly result in removal from her federal position,” the office said in a June 13 letter to Trump.The oversight panel’s top Republican, Jim Jordan of Ohio, called the allegations “ridiculous.” He said that federal employees can’t come to work and hand out election fliers or raise money for campaigns, “but a senior adviser to the president of the United States can sure as heck go on cable news shows and answer questions.”\--With assistance from Jennifer Jacobs.To contact the reporters on this story: Billy House in Washington at bhouse5@bloomberg.net;Josh Wingrove in Washington at jwingrove4@bloomberg.net;Jarrell Dillard in Washington at jdillard11@bloomberg.netTo contact the editors responsible for this story: Alex Wayne at awayne3@bloomberg.net, Joe SobczykFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.


'Snakes and other critters' join flooding, tornadoes as Barry's latest threat  » 
15 Jul 2019, 20:16

'Snakes and other critters' join flooding, tornadoes as Barry's latest threatHurricane Barry, quieted to a tropical depression Monday, remained a dangerous storm that threatened flooding, tornadoes and snakes.


U.N. concerned by U.S. curbs on Iranian foreign minister while in New York  » 
15 Jul 2019, 19:41

U.N. concerned by U.S. curbs on Iranian foreign minister while in New YorkThe United Nations told the United States it is concerned by tight travel restrictions on Iranian Foreign Minister Mohammad Javad Zarif during his visit to New York this week, U.N. spokesman Farhan Haq said on Monday. Zarif arrived in New York on Sunday after U.S. Secretary of State Mike Pompeo signed off on the visit amid heightened tensions between the two countries.


Land crabs infest Florida man's house after heavy rainfall  » 
15 Jul 2019, 19:11

Land crabs infest Florida man's house after heavy rainfallA man in Florida recently received hundreds of crabs as unexpected house guests.Heavy rain fall in south Florida forced hundreds of land crabs, which burrow underground, out of their holes and into the property of Dan Skowronski, a resident of of Port St Lucie. In a video shared to Facebook, the Florida man witnessed the home invasion with a surprising calm.“They must have got rained out of their holes,” he said while filming the crabs, which were scurrying all over his house and property. “All land crabs. Their homes got wiped out by the rain, and they’re all over.”“They’re more scared of me than I am of them,” he said, adding that “sometimes it happens once a year”.Florida saw heavy rainfall as Hurricane Barry geared up in the Gulf Coast throughout last week, before making landfall in Louisiana on Saturday. The storm left heavy flooding throughout New Orleans, but was downgraded to a tropical storm upon hitting the city, and did less damage than anticipated. Still, much of the city experienced rampant flooding, which is expected to continue and spread this week.In the Florida panhandle, far north above the crab invasion, the storm stirred up a mass influx of jellyfish, washing up on the sand as the water picked up into dangerous riptides. Public beaches were closed to swimmers while the fish and waves persisted.WPTV reports that the crabs in South Florida were gone by Friday.


The Latest: Elders brace for arrest for blocking summit road  » 
15 Jul 2019, 18:41

The Latest: Elders brace for arrest for blocking summit roadHawaii officials have closed a road leading to the summit of the state's tallest mountain, the site of an embattled giant telescope project. The road was officially closed Monday, but protesters who say they're protecting Mauna Kea from desecration had already blocked it. Hundreds gathered to protest the $1.4 billion Thirty Meter Telescope, hoping to stop construction convoys from delivering equipment to the top.


Joe Biden worried in 1977 that certain de-segregation policies would cause his children to grow up 'in a racial jungle'  » 
15 Jul 2019, 18:26

Joe Biden worried in 1977 that certain de-segregation policies would cause his children to grow up 'in a racial jungle'"Unless we do something about this, my children are going to grow up in a jungle, the jungle being a racial jungle," Biden said.


A 31-year-old man died in the Dominican Republic, reportedly after drinking a soda that tasted off  » 
15 Jul 2019, 17:43

A 31-year-old man died in the Dominican Republic, reportedly after drinking a soda that tasted offTracy Jerome Jester, 31, died on the island on March 17. The official cause of death was "respiratory illness."


An Air Force officer reported his wife missing. Now he's charged with her murder  » 
15 Jul 2019, 17:18

An Air Force officer reported his wife missing. Now he's charged with her murderAir Force Major Andre McDonald, based out of San Antonio, was arrested after officials found the body of his wife Andreen on Thursday.


Man Accused of Murdering MacKenzie Lueck to Make First Court Appearance  » 
15 Jul 2019, 16:47

Man Accused of Murdering MacKenzie Lueck to Make First Court AppearanceThe man accused of kidnapping and murdering MacKenzie Lueck will make his first court appearance Monday.


Mark Zuckerberg actually got $1 billion richer following the news of Facebook's $5 billion fine for the biggest scandal in the company's history (FB)  » 
15 Jul 2019, 16:05

Mark Zuckerberg actually got $1 billion richer following the news of Facebook's $5 billion fine for the biggest scandal in the company's history (FB)Facebook faces a $5 billion fine from the Federal Trade Commission. The stock's pop after the news increased the value of Mark Zuckerberg's shares.


ICE raids: Top immigration official admits he ‘does not know details’ of controversial arrests  » 
15 Jul 2019, 15:46

ICE raids: Top immigration official admits he ‘does not know details’ of controversial arrestsThe acting director of US Citizenship and Immigration Services has said he does not have details about the ICE raids targeting undocumented immigrants, even though he has spoken about the operation in recent days.Ken Cuccinelli said during a CNN appearance on Monday he did “not have operational details”, including how many arrests were made during the operation that began on Sunday.Last week, Mr Cuccinelli discussed the operation and said there were approximately one million people in the US with removal orders.“I told you, I don't have details about any arrests that have taken place so far with respect to that operation,” Mr Cuccinelli said, explaining his lack of knowledge about specifics by saying “operational details are kept contained within the agency”.The raids were expected in Atlanta, Baltimore, Chicago, Denver, Houston, Los Angeles, Miami, New York and San Francisco.But, there were no reports of the raids in several cities, according to immigrant advocacy groups that are monitoring the situation.Mr Cucinelli’s agency is in charge of legal immigration, and it is left to Immigration and Customs Enforcement to detain undocumented immigrants for deportation.The US has conducted raids previously, including raids on workplaces where undocumented immigrants have allegedly been hired.Donald Trump's administration has overseen a spike in the number of those kinds of raids, compared to during the Obama administration.


Ethiopia premier's aide named to lead restive Amhara region  » 
15 Jul 2019, 14:55

Ethiopia premier's aide named to lead restive Amhara regionEthiopia's Amhara Democratic Party (ADP) named the security adviser to Prime Minister Abiy Ahmed as head of the restive Amhara region on Monday after his predecessor was killed in a violent attempt to seize power there. Dozens were killed in fighting during the foiled coup by a rogue state militia in Amhara that claimed the life of regional president Ambachew Mekonnen and other top officials. The same night, the army's chief of staff and a retired general accompanying him were killed in the capital Addis Ababa in a related attack, the government said.


Police officer who killed Ethiopian-Israeli released on bail  » 
15 Jul 2019, 14:03

Police officer who killed Ethiopian-Israeli released on bailA police officer who shot dead a 19-year-old Ethiopian-Israeli, sparking nationwide protests, was freed on bail from house arrest on Monday, Israel's justice ministry said. The officer, who was off-duty and said he felt his life was in danger at the time of the June 30 shooting, will be subject to a series of restrictions while the investigation continues. The bail amount was not made public by the ministry following the closed-door court hearing over the shooting of Solomon Teka in Kiryat Haim near the northern port city of Haifa.


A NASA Intern Bought Apollo 11 Videotapes for $218. Now They're Going to Auction for Millions  » 
15 Jul 2019, 12:45

A NASA Intern Bought Apollo 11 Videotapes for $218. Now They're Going to Auction for MillionsThey are 'the only surviving first-generation recordings of the historic moon walk'


This crazy Samsung design with a pull-out screen might hint at a big overhaul for the Galaxy S11  » 
15 Jul 2019, 12:35

This crazy Samsung design with a pull-out screen might hint at a big overhaul for the Galaxy S11Samsung is on the cusp of several major announcements at the moment, including the unveiling of the Galaxy Note 10 series set for next month at the Unpacked event as well as the new release date supposedly coming any day now for the company's second try at a foldable phone. Early next year, meanwhile, we'll see the next high-end Galaxy phone, the Galaxy S11, about which the rumor mill is already starting to crank out intriguing tidbits. There's been some chatter that the handset may get an all-new design in a break from previous iterations in the series -- and now, a new Samsung patent that's been spotted could offer an additional hint at what's to come.Samsung is constantly generating a slew of patents showing off all manner of proposed future handset designs -- some incremental, while others seem pretty strange and downright bizarre. Sort of the tech industry version of one of those fashion shows where you see models strutting down the catwalk in designs you know that normal people would absolutely never touch. We've reported on a number of the company's creations along these lines, which have teased foldable phones and phones with expandable screens and so much more. This time around, though, the design that's been laid out looks like something more in the realm of practicality and may even hint at a direction the company's Galaxy S11 series could go in.What Samsung is proposing in a newly published patent from the Korean Intellectual Property Office (h/t to Dutch tech news site LetsGoDigital) is a handset with an extendable display that pulls out from one side, increasing the overall effective display surface area by about 50%. You can see a 3D rendering the Dutch site prepared based on the patent documentation below:Other details:The patent documentation also makes clear this proposed handset would have a punch-hole camera positioned in the middle of the front display. As is also rumored to be the case with the Note 10, this would be a continuation of Samsung moving to this new camera setup that, among other things, allows for thinner bezels at the top of the display. The camera on the back, meanwhile, is positioned in the top right corner of this new proposed device.Samsung is increasingly releasing a growing selection of variations for its top handset models, like it did with the release of the S10, S10+, S10e, and S10 5G. You can almost see this new design being a possibility as one of several new Galaxy S11 designs -- though the Note handsets are known, among other things, for large displays, so you could arguably make the same case for inclusion in the Note 11 family.Regardless, it should be clear by now that the failure back in April of the company's Galaxy Fold that was rushed to market before being pulled back hasn't hampered the company's appetite for trying new things, embarrassing though that high-profile failure was. It will be interesting to see if the company has learned its lessons from the Fold debacle -- and, more important, how it incorporates those lessons into new experiments (like this new design, perhaps) going forward.


Susan Rice Calls Chinese Diplomat a ‘Racist Disgrace’ on Twitter  » 
15 Jul 2019, 12:19

Susan Rice Calls Chinese Diplomat a ‘Racist Disgrace’ on Twitter(Bloomberg) -- Sign up for Next China, a weekly email on where the nation stands now and where it's going next.Former U.S. National Security Advisor Susan Rice sparred with a senior Chinese diplomat on Twitter in an unusual and heated dispute over race in Washington.In a series of Tweets apparently aimed at making a broader point about diplomatic divisions over the mass detention of Muslims in China’s Xinjiang province, Lijian Zhao, a diplomat posted in Islamabad, said on Sunday that if “you’re in Washington, D.C., you know the white never go” to the southeastern part of the U.S. capital.“You are a racist disgrace. And shockingly ignorant too,” Rice told Zhao on Twitter. Likely assuming that Zhao was posted in China’s mission in Washington, she then addressed her next comment to China’s ambassador to the U.S., Cui Tiankai. “Ambassador Cui, I expect better of you and your team. Please do the right thing and send him home.”Zhao, who is deputy chief of mission at the Chinese embassy in Pakistan’s capital, is often vocal on Twitter against critics of China’s infrastructure-building projects in Pakistan and other parts of Asia. Beijing has invested tens of billions of dollars in Pakistan, whose leader Imran Khan has previously dodged questions about the issue.‘Shockingly Ignorant’“You are such a disgrace, too. And shockingly ignorant, too. I am based in Islamabad. Truth hurts. I am simply telling the truth,” Zhao fired back at Rice on Monday. “To label someone who speak the truth that you don’t want to hear a racist, is disgraceful & disgusting.”Read More: How China Is Defending Its Detention of Muslims to the WorldZhao didn’t immediately respond to phone calls, an email and a direct message on Twitter seeking comment.In a string of messages that appeared aimed at highlighting U.S. hypocrisy on human rights, Zhao referred to everything from income inequality and school shootings in the U.S. to immigration officers separating children from parents.He tweeted a list of mostly-Western nations that condemned China for its actions in Xinjiang as well as a separate list of other countries -- including Pakistan, Cuba, Tajikistan and Nigeria -- that wrote a joint letter to the United Nations supporting Beijing, which Zhao called “a big slap on the face of U.S. & its western cohorts.”Outspoken DiplomatsChina’s diplomats have become increasingly vocal and outspoken. This month, China’s ambassador to London, Liu Xiaoming, gave a rare televised statement accusing the British government of meddling in Hong Kong, the scene of mass protests against Beijing’s rule.Earlier this year, China’s envoy to Canada publicly accused his hosts of “white supremacy,” while the country’s chief envoy in South Africa said President Donald Trump’s policies were making the U.S. “the enemy of the whole world.”Asked about the Twitter dispute on Monday, China’s foreign ministry spokesman Geng Shuang didn’t comment directly.“I don’t know the specific situation,” he said. However, he added, “we resolutely oppose the interference of the U.S. and individual Western countries in interfering in China’s internal affairs with the Xinjiang issue.”To contact the reporters on this story: Iain Marlow in New Delhi at imarlow1@bloomberg.net;Dandan Li in Beijing at dli395@bloomberg.netTo contact the editors responsible for this story: Brendan Scott at bscott66@bloomberg.net, Chris Kay, Gregory TurkFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.


View Photos of the 2019 Porsche Cayenne S  » 
15 Jul 2019, 12:00

View Photos of the 2019 Porsche Cayenne S


India races for launch fix after Moon mission aborted  » 
15 Jul 2019, 11:16

India races for launch fix after Moon mission abortedIndian space chiefs pressed to quickly set a new date to launch a landmark moon mission after aborting one liftoff Monday just 56 minutes ahead of schedule, media reports said. The Chandrayaan-2 -- or Moon Chariot 2 -- rocket, a key part of India's ambitious space programme, could still blast off on July 29 or 30, media reports said. If that is not possible the launch would have to wait until September or beyond.


Man 'shot polar bear and left its body outside his home for five months'  » 
15 Jul 2019, 10:29

Man 'shot polar bear and left its body outside his home for five months'A man has been charged with killing a polar bear and leaving the body to rot outside his home in Alaska for five months.Christopher Gordon, 35, allegedly shot the animal dead when it ventured into his front yard to try and eat some butchered whale meat.He then failed to report the polar bear carcass or attempt to “harvest” it for food between December 2018 and May this year.Gordon also allowed the bear to be covered with snow, which resulted in one of its legs being ripped off by a passing snowplough.Finally, on 22 May, he burned the carcass at the village dump in Kaktovik.He is now facing up to one year in prison and a $100,000 (£80,000) fine if convicted of the federal crime of “knowingly taking a polar bear in a manner unlawful under the Marine Mammal Protection Act”.Prosecutors say that the killing of the bear was not done in legal self defence and that he “left the harvestable remains to waste”.“Gordon allegedly left butchered whale meat outside in front of his yard of his residence for a substantial period of time, which attracted polar bear, as well as other animals to his front yard,” said federal prosecutor Ryan Tansey.“He then allegedly shot and killed the polar bear because it was trying to eat the improperly stored whale meat.”Gordon has also been charged with the state offence of wasteful taking of a marine animal.The investigation was carried out by the US Fish and Wildlife Service.Gordon declined to comment about the case and is scheduled to appear in court in Fairbanks in August.Kaktovik, with a population of just over 250, has experienced increasing encroachment by polar bears in recent years due to the disappearing Arctic sea ice.As a result it has become a popular tourist destination, with more than 2,000 people visiting the village during 2017.“These bears are getting used to people,” said council member Mike Gallagher. ”They’re domesticated.”Additional reporting by Associated Press


Russia’s Election Hackers Are Back—and Targeting George Soros  » 
15 Jul 2019, 9:21

Russia’s Election Hackers Are Back—and Targeting George SorosSean Gallup/GettyThe Russian intelligence agency behind 2016’s election attacks is training its sights on billionaire financier George Soros, The Daily Beast has learned. The move comes hot on the heels of a surge in U.S.-focused hacking by Russia’s Main Intelligence Directorate with similarities to 2016 in targeting and methodology. Laura Silber, chief communications officer for Soros’ Open Society Foundations, confirmed the hack attempt, but couldn’t provide additional details over the weekend. “We were aware of an attack,” Silber told the Daily Beast.Last month Microsoft quietly seized a new batch of 10 deceptive domain names the company says were set up by the hackers known as Fancy Bear,  the group intelligence officials and independent analysts have long attributed to Russia’s Main Intelligence Directorate, the GRU. Those web addresses imitate genuine domains used for Microsoft services like Sharepoint, an unmistakable sign that they were intended for use in phishing attacks, in which a victim is tricked into typing their password into a fake login page. Mueller Finally Solves Mysteries About Russia’s ‘Fancy Bear’ HackersOne domain targets a Singapore-based investment firm, and another references the Berlin anti-corruption organization Transparency International, which Russia has targeted before. Others are generic or ambiguous in their targeting.  But one seized domain, soros-my-sharepoint[.]com, jumps out as a clear reference to Soros, a past GRU target from Russia’s 2016 election interference.  An additional four phishing domains registered in the same time frame appear to target Soros’ Open Society Foundations, said Kyle Ehmke, an intelligence researcher at the Arlington, Virginia-based cybersecurity firm ThreatConnect.  Those domains haven’t been seized and ThreatConnect hasn’t found enough evidence to definitively link them to the Russian hackers, said Ehmke. The Kremlin’s targeting of Soros and his organization carries echoes of 2016, when the GRU dumped 2,500 files stolen from the Open Society Foundations for the debut of “DC Leaks”, the fake leak site the spies created for their 2016 election interference campaign. “SOROS INTERNAL FILES – BIG DATA”, the site announced at the time.Some of the stolen files were reportedly altered to create the appearance that Soros was secretly financing Russian opposition candidates, making the leak politically useful to Vladmir Putin. More importantly, the Soros dump earned DC Leaks instant credibility in American right-wing circles, where the 88-year-old Hungarian-American philanthropist plays the role of villainous global puppet-master in countless conspiracy theories. Russia’s Internet Research Agency—the so-called “troll farm, later indicted by Special Counsel Robert Mueller—pushed the same trope on its Facebook and Instagram feeds in the run-up to election day. One meme featured a close-up of Soros against a backdrop of anti-Trump picketers. “No lives matter for those who sponsoring [sic] anti Trump protests,” the caption read. Another imagined Soros confronting the late Senator John McCain. “Hey Johnny, I’m paying you a fortune. I don’t care how much cancer you have, get back to DC and backstab Trump.”The Soros targeting comes in the wave of what one expert describes as a fresh wave of Fancy Bear attempts against political nonprofits in the U.S. that ran from last December to March or April of this year, using similar tactics to the mass phishing campaign that famously ensnared Hillary Clinton’s campaign chief in 2016. “It’s a similar type of activity to what hit Podesta,” said Robert Johnston, the former Marine Corp captain who investigated the 2016 DNC breach, and now heads the financial cybersecurity firm Adlumin. “These were against political organizations and NGOs. The FBI has reached out to of bunch of them.”Putin’s Hackers Now Under Attack—From MicrosoftIn 2016 Microsoft sued Fancy Bear in federal court in Virginia and won, unopposed, an injunction allowing the company to seize any web addresses registered by the GRU’s hackers that imitate a Microsoft product or service.  The company has seized over 100 domains so far.Experts caution that Russia’s hackers have always cast a wide net, and there’s no way to tell what their motives are in revisiting old haunts now. It may be pure intelligence gathering, or the opening salvo of a 2020 election interference campaign.“We don't know whether they are ultimately looking to compromise targets for influence operations, internal intelligence uses, or both,” said Ehmke.Either way, Russia likely views its 2016 efforts as a success, and is certain to try for an encore. “I think you should absolutely anticipate a very vocal Russian interference in the 2020 elections,” said Johnston.Read more at The Daily Beast.Got a tip? Send it to The Daily Beast hereGet our top stories in your inbox every day. Sign up now!Daily Beast Membership: Beast Inside goes deeper on the stories that matter to you. Learn more.


Recent developments surrounding the South China Sea  » 
15 Jul 2019, 7:04

Recent developments surrounding the South China SeaA look at recent developments in the South China Sea, where China is pitted against smaller neighbors in multiple disputes over islands, coral reefs and lagoons. EDITOR'S NOTE: This is a weekly look at developments in the South China Sea, the location of several territorial conflicts in the region. Justice Antonio Carpio added that Duterte's recent statement that he had a verbal agreement with Chinese President Xi Jinping that effectively allows Chinese to fish in the Philippines' exclusive economic zone will "substantially diminish the arbitral award, a self-inflicted blow to our sovereign rights" in the South China Sea.


South Korea calls Japan reports of North Korea sanctions breach 'grave challenge'  » 
15 Jul 2019, 6:58

South Korea calls Japan reports of North Korea sanctions breach 'grave challenge'South Korean President Moon Jae-in said on Monday Japan's reported accusations that South Korea had exported banned goods to North Korea posed a "grave challenge" amid a growing dispute over Japanese export curbs. Japan has tightened restrictions on the export of three materials used in high-tech equipment, citing "inadequate management" of sensitive items exported to South Korea. Japanese officials have cited "inadequate management" of sensitive items exported to South Korea as a reason behind the curbs, as well as lack of information sharing on export controls.


Louisiana officials warn of snakes and other creatures fighting to escape Hurricane Barry floodwaters  » 
15 Jul 2019, 1:22

Louisiana officials warn of snakes and other creatures fighting to escape Hurricane Barry floodwatersHurricane Barry made landfall Saturday morning in Louisiana. It has since weakened back to a tropical storm, but heavy rains will continue.


Report: A $15 Minimum Wage Would Be an Economic Disaster  » 
14 Jul 2019, 23:01

Report: A $15 Minimum Wage Would Be an Economic DisasterJust in time for next week’s likely House vote on a federal $15 minimum wage, the nonpartisan Congressional Budget Office has come out with a caustic report on the consequences of the policy.The report confirms what even liberal economists caution: A $15 minimum wage would “risk undesirable and unintended consequences” and lead to a survival-of-the-fittest labor market, where only the highest-skilled workers come out on top.  Democrats are under the illusion that the government can force employers to artificially increase wages with no adverse consequences for American workers. But that’s like saying the government could double families’ mortgage and rent payments without any consequence.Here are six ways this new report exposes the minimum wage proposal as bad policy.1\. It would be a job-killer.The Congressional Budget Office report estimated that a $15 minimum wage would lead to 1.3 million lost jobs by the year 2025, with job losses rising over time due to compounding negative impacts.The exact number of job losses are highly uncertain, but the report says losses would most likely range between zero and 3.7 million, with a not-insignificant chance that losses could exceed 3.7 million.A 2011 Heritage Foundation estimate was even bleaker. It estimated a $15 minimum wage would lead to 7 million lost jobs.


Boy slips through Heathrow security to board British Airways flight to Los Angeles  » 
14 Jul 2019, 22:09

Boy slips through Heathrow security to board British Airways flight to Los AngelesPolice at Heathrow Airport are investigating how a 12-year-old boy slipped through security and managed to board a British Airways flight to Los Angeles without a ticket or boarding pass. The unaccompanied child, who had no travel documents, mingled with passengers getting on the flight and was only spotted when cabin crew asked to see his boarding pass in order to direct him to his seat. The mystery youngster, who is thought to be Dutch, was not travelling with his parents, and refused to cooperate with cabin crew when he was challenged. Fellow passengers said he refused to leave the aircraft and was eventually removed by police officers who boarded to assist aircrew. As a result of the security lapse, the aircraft had to be cleared and all the passengers were forced to undergo a second security check, delaying the flight by more than four hours. The mystery youngster, who is thought to be Dutch, was not travelling with his parents, and refused to cooperate with cabin crew when he was challenged Credit: AP Photo/Alastair Grant Detectives were working to establish where the boy was originally from and how he had managed to pass through strict security cordons, without being spotted. One theory is that he was a transit passenger who had arrived at Heathrow with a ticket to an onward destination, but had then attempted to see if he how far he could get with our being challenged as part of an elaborate dare. The lapse also raises concerns over the effectiveness of security checks at Britain’s busiest airport, although a spokesman for British Airways insisted the boy had been through the same controls as all other passengers. The spokesman said: “We have apologised to our customers for the delay to their flight after an issue during boarding.   “The safety and security of our customers and crew is always our top priority and everyone who had boarded the aircraft had been subject to security checks.  “We conducted additional precautionary screening as soon as this issue came to light and we are assisting the police with their enquiries.” Rachel Richardson, who was heading to Los Angeles on a business trip, described chaotic scenes as airline staff tried to deal with the situation. She said: “The boy would not speak to the cabin crew and they were asking if anybody spoke Dutch. He would not help them understand where his bags were so the whole aircraft had to be cleared which meant we were almost more than four hours delayed taking off. It was very frustrating.” A spokesman for Scotland Yard said: “A 12-year-old boy boarded a BA flight from Heathrow to Los Angeles at around 17:15hrs on 14 July.   “He was identified by cabin crew during pre-flight check. He did not have a ticket or any travel documents.   "The boy was an unaccompanied minor. He is not a UK national. As a security precaution, passenger de-planed following a discussion between police and the captain.   “The child is believed to have arrived at Heathrow as a transit passenger.” A Heathrow spokesperson said: “We are working with our police colleagues and British Airways to understand how an unauthorised passenger boarded the incorrect aircraft. The individual did not represent a security risk and, purely as a precaution, the aircraft in question was re-screened and has since departed. We apologise for the disruption and will continue working closely with the authorities and our airline partners to keep the airport safe.”


A Texas grandmother fell three years ago. Her daughter let her decay on the floor, police say  » 
14 Jul 2019, 21:42

A Texas grandmother fell three years ago. Her daughter let her decay on the floor, police sayDelissa Crayton lived with her mother's decaying remains for three years after she fell in their shared residence, police in Seguin, Texas said.


Florida suspect punches hotel owner  » 
14 Jul 2019, 20:55

Florida suspect punches hotel ownerRaw video: Surveillance video captures a suspect attacking a hotel owner over parking space dispute.


Decorated soldier dies in combat operations in Afghanistan  » 
14 Jul 2019, 20:51

Decorated soldier dies in combat operations in AfghanistanA decorated Special Forces company sergeant major has died during combat in Afghanistan, U.S. military officials said Sunday. James G. "Ryan" Sartor, 40, was killed Saturday during combat operations in Faryab Province, according to Lt. Col. Loren Bymer, spokesman for the U.S. Army Special Operations Command. Sartor was from Teague, Texas, and was assigned to the 2nd Battalion, 10th Special Forces Group in Fort Carson, Colorado.


Northern California town of Paradise lost 90% of its population after Camp Fire, data shows  » 
14 Jul 2019, 16:55

Northern California town of Paradise lost 90% of its population after Camp Fire, data showsThe town of Paradise has lost over 90% of its population since the Camp Fire last year, according to data California released Thursday.


Billionaire Tom Steyer's entrance into the 2020 Democratic race is the perfect example of the rot at the core of the US political system  » 
14 Jul 2019, 15:32

Billionaire Tom Steyer's entrance into the 2020 Democratic race is the perfect example of the rot at the core of the US political systemTom Steyer's entered the 2020 presidential race with a promise to spend $100 million on his campaign, but he should use that money elsewhere.


European leaders fail to grasp 'hardening' of UK view on Brexit, Latvia warns  » 
14 Jul 2019, 15:27

European leaders fail to grasp 'hardening' of UK view on Brexit, Latvia warnsA hard Brexit could be made more likely because European Union leaders have failed to grasp the hardening of opinion in Britain, Latvia’s foreign minister has warned.  Edgars Rinkēvičs, who has served as the Baltic state’s chief diplomat for eight years, said a mutual gulf of understanding between London and Brussels means revising the Withdrawal Agreement before the October 31 deadline will be “extremely difficult.” And he warned that Boris Johnson’s plan to use hard Brexit as a “credible threat” in negotiations was based on a false assumption about the European position and the speed with which the EU can move.  Speaking during a visit to London, Mr Rinkevics said: “I think that in the European Union we sometimes do not grasp that the UK, after three years of this very tortuous process, has a very hardened stance,” he told the Telegraph.  “But there is another dynamic that is not well understood here in London, which is very important for me as a representative of a small member state: it is also very important that the unity and solidarity of the European Union is not just words.  “When you have a situation where your key national interests are at stake, you count on the support of all the other 26 members.  There are key national interests of Ireland at stake here - I don’t think anyone can deny that - and I believe that a very similar situation other member states would be counting on the support on all of them,” he said.  Boris Johnson and Jeremy Hunt, the candidates in the Conservative leadership race, have both said Britain must leave the European Union by October 31.  That will give the new prime minister just three months to negotiate a new Withdrawal Agreement after a winner is declared on July 23.  Both candidates have said the threat of a no-deal Brexit should be used to push the European Union to make concessions on controversial areas including the Irish backstop. Mr Rinkēvičs said: “I do not think the [withdrawal agreement] can be revised in just a couple of weeks.” Incoming EU leaders | Their views on Brexit Latvia is considered a close ally of Britain inside the European Union. They both take a hard line on Russian sanctions and increasing Nato defence spending, and Mr Rinkēvičs said Riga remains anxious for the EU to maintain the closest possible cooperation on security and law enforcement.  A crash-out Brexit on October 31 would jeopardise both European and British security if it also took Britain out of the European Court of Justice, undermining the work of European arrest warrants and cooperation via Europol and Eurojust, the pan-European policing and legal agencies.  Britain’s absence from the European Union may also raise questions about the endurance of the sanctions regime imposed against Russia following the annexation of Crime and war in eastern Ukraine in 2014.   Several countries including Hungary and Italy have publicly criticised the sanctions regime.  Latvia and neighbouring states were alarmed when the Council of Europe, a human rights body unrelated to the European Union, voted to restore Russia’s voting rights last month.  Mr Rinkevics said it was widely acknowledged that there will be a “change in dynamic” in the formation of EU foreign policy after Britain leaves, but said it was too early to predict how it would develop.  “There are some members states  - I don’t want to single out any - that could raise [lifting sanctions on Russia],” said Mr Rinkēvičs.   “In that case I believe so the consequences are going to be really damaging for the credibility of the European Union,” he said. “If we give in, the implications for the security and stability in the neighbourhood will be quite grave.”


The world's largest hotel chain is refusing to work with ICE. It may lead to more family separations, immigration officials warn.  » 
14 Jul 2019, 13:55

The world's largest hotel chain is refusing to work with ICE. It may lead to more family separations, immigration officials warn.Hotel chains, including Marriott, have said they won't hold migrants for ICE, which has been conducting raids in major cities this weekend.


JetBlue flight evacuated at Newark Airport after suicide vest photo AirDropped to passenger iPhones  » 
14 Jul 2019, 13:32

JetBlue flight evacuated at Newark Airport after suicide vest photo AirDropped to passenger iPhonesA plane was evacuated after someone sent a photograph of a suicide vest to passengers and flight attendants on board.The unknown sender used Apple’s AirDrop feature, which allows users to easily and anonymously transfer files to other iOS devices using Bluetooth.Authorities say the Florida-bound plane was about to take off from Newark Liberty International Airport in New Jersey when the image was widely shared on board.A member of the crew on JetBlue flight 573 alerted the captain, who informed authorities at about 7.45am on Saturday.The plane returned to the gate and the 150 people on board were asked to leave the aircraft, and their luggage was re-screened and examined by police bomb-sniffing K-9 dogs.“We pull up to the gate and then we pull away and the captain comes on and says there's been a security threat,” Thomas Desmond told NBC News.“It was nervous when you see Port Authority police officers coming onto your plane and you just have no idea what's going on.”The culprit was likely one of those on board, as AirDrop only works with those in close proximity to the sender. However, they were not traced.JetBlue said the additional security screening was carried out due to “an abundance of caution.”The flight eventually departed just before 11.30am, with no knock-on effects to other flights departing or arriving at Newark.


Egypt's 'bent pyramid', a 4,600-year old landmark in ancient construction, opens to visitors  » 
14 Jul 2019, 12:28

Egypt's 'bent pyramid', a 4,600-year old landmark in ancient construction, opens to visitorsEgypt on Saturday opened to visitors the 4,600-year-old “bent” pyramid, a 101-metre tall structure located just south of Cairo considered a landmark in the evolution of pyramid building. The pyramid was built in Dahshur around 2,600 BC by the fourth dynasty pharaoh Sneferu. The bent pyramid and the nearby “red” pyramid, also built by Sneferu, mark a transition from “step” pyramids, whereby the ancient tombs were constructed in several tiers, to the more well-known smooth-sided pyramids.  "The two pyramids King Sneferu built here eventually led Khufu, Snefru's son, to build the Great Pyramid of Giza, one of the Seven Wonders of the World,” Egyptian antiquities minister Khaled el-Anany told reporters. Visitors can now descend down a 79-metre tunnel to reach two vaults deep inside the structure. A man walks through a passage in the well-known bent pyramid of King Sneferu in Dahshur, 20 miles south of Cairo, which had been closed to visitors since 1965 and has now re-opened Credit: Mohamed El-Shahed/AFP The pyramid’s design is unique: its sides, which are still clad in limestone, rise at a steep 54-degree angle for the first 49 metres, before tapering off towards the top. The pyramid’s architects changed the angle of the structure when cracks started appearing, according to Mostafa Waziri, secretary general of Egypt’s Supreme Council of Antiquities. One the Bent pyramid satellites, in the ancient royal necropolis of Dahshur on the west bank of the Nile River Credit: Mohamed El-Shahed/AFP And the newly-accessible pyramid may even be the final resting place for its commissioner, Sneferu.  “Exactly where he was buried, we are not sure of that. Maybe in this pyramid, who knows,” said Mohamed Shiha, director of the Dahshur site. As part of the pyramid's re-opening, the authorities also showed off a new collection of stone, clay and wooden sarcophagi, some containing well-preserved mummies, plus wooden funerary masks and instruments Credit: Mohamed El-Shahed/AFP A smaller 18-metre satellite pyramid, perhaps built for Sneferu’s wife Hetepheres, was also opened to visitors for the first time since being excavated in 1956. As part of the pyramid's re-opening, the authorities also showed off a new collection of stone, clay and wooden sarcophagi discovered at the site, some of which-contained well-preserved mummies. The Egyptian archaeological mission also found wooden funerary masks and instruments.  Unlike the more famous Giza pyramids, the site at Dahshur is in open desert and receives a fraction of the visitors. The opening of the bent pyramid coincides with a push by authorities to revive the country's beleaguered tourism sector. The 'red' pyramid, close to the bent pyramid in Dahshur Credit: Mohamed El-Shahed/AFP The industry is a major contributor to Egypt’s economy, but it took a heavy hit after the 2011 revolution that toppled longstanding dictator Hosni Mubarak.  Egypt welcomed a record of almost 15 million tourists in 2010. While still a long way from reaching those kinds of figures again, the industry looks to be recovering, with 11.3 million visitors recorded in 2018, according to the World Tourism Organisation.


AOC is right: Inflation is solved. That's why central banks are doing the unthinkable — cutting rates when we've got full employment and the Dow at 27,000.  » 
14 Jul 2019, 11:33

AOC is right: Inflation is solved. That's why central banks are doing the unthinkable — cutting rates when we've got full employment and the Dow at 27,000.The economy is screaming for an interest rate rise. But the US Fed and the ECB have signalled they're going to cut instead.


Armed 69-year-old ‘antifascist’ shot dead after firebombing immigration centre  » 
14 Jul 2019, 9:55

Armed 69-year-old ‘antifascist’ shot dead after firebombing immigration centreA rifle-armed 69-year-old has been fatally shot by the police after throwing incendiary devices at an immigration centre in Tacoma, WashingtonOfficers were called to the privately run prison at around 4am where the man, identified in local media as Willem Van Spronsen of Vashon Island, had set a vehicle alight with the explosives.He is also believed to have attempted to ignite a large propane tank outside the building.His target, the Tacoma Northwest Detention Centre, has long served as a holding facility for migrants as they are about to be deported.More recently it has also housed parents separated from their children at the border under Donald Trump’s “zero tolerance” policy towards undocumented immigrants.The incident took place roughly six hours after a peaceful rally against deportations outside the centre.Officers confirmed Van Spronsen was shot dead at the scene, with all four attending officers discharging their weapons.He was described locally as a committed anarchist and antifascist. One friend of twenty years, Deb Bartley, told The Seattle Times she and others had received letters from him which read “just saying goodbye” along with what she described as a manifesto.She added: “I think this was a suicide. But then he was able to kind of do it in a way that spoke to his political beliefs... I know he went down there knowing he was going to die.”Van Spronsen is believed to have had previous run-ins with law enforcement at the detention centre.In 2018 he was reportedly among ten people to be taken in by police after occupying the perimeter of the site – with the then 68-year-old arrested on suspicion of third-degree assault for jumping on the back of an officer as he attempted to apprehend another activist.


Business

Telenor Shares Drop After Phone Carrier Cuts Profit Outlook  » 
16 Jul 2019, 9:54

Telenor Shares Drop After Phone Carrier Cuts Profit Outlook(Bloomberg) -- Telenor ASA shares fell the most in over a year after the biggest phone carrier in the Nordic region cut its full-year outlook as it struggles to expand amid increased competition in key markets.Earnings before interest, depreciation and amortization fell 2% to 11.1 billion kroner ($1.3 billion), missing an estimate of 11.3 billion kroner. Revenue was in line with estimates at 28 billion kroner. The shares declined as much as 5.7%, the biggest intraday drop since June last year. “Although organic subscription and traffic revenues declined by 1%, the Ebitda margin was 40% and we saw positive revenue development and effects from efficiency and modernization programs,” Chief Executive Officer Sigve Brekke said in a statement. “Our underlying financial performance remains stable.”Telenor is being pressured by slow growth in its mature markets in the Nordic region and competition at its businesses across Asia. The company is in the process of completing a takeover of Finland’s DNA Oyj, to further challenge its Swedish rival Telia Co AB. It’s also in talks with Axiata Group Bhd. to merge operations in Asia, combining their telecom and infrastructure assets to create a company with 300 million customers in nine countries.The company said it sees subscription and traffic revenue “around the 2018 level,” down from an estimate of a 2% gain. It predicted a “low single digit” decline in Ebitda, compared to an earlier forecast for 1-3% gain. The new outlook takes into account the inclusion of Thailand’s Dtac, an “adjusted outlook from Digi” and a provision in Bangladesh.Frank Maao, an analyst at DNB ASA, said that the new outlook constitutes an implicit lowering of Ebitda growth guidance to about minus 1%. The numbers were “soft,” driven by weakness in Pakistan and Norway, he said.What Bloomberg Intelligence says...Telenor’s muted 2Q growth and lowered full-year outlook provide some sobering context for the company’s plans for a comprehensive merger of its Asian operations with Axiata. The deal, if approved, will help unlock additional cost savings and investment efficiencies to protect cash flow from sustained top-line weakness.-- Matthew Bloxham, senior industry analyst, to read research, click hereTo contact the reporter on this story: Sveinung Sleire in Oslo at ssleire1@bloomberg.netTo contact the editor responsible for this story: Jonas Bergman at jbergman@bloomberg.netFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.


Greece taps bond market again as borrowing rates drop  » 
16 Jul 2019, 9:54

Greece taps bond market again as borrowing rates dropGreece has launched a 7-year bond auction, its third effort in 2019 to raise money from international markets, as it aims to take advantage of an improvement in borrowing rates to fulfill its financing needs for the year. Greece's Public Debt Management Agency authorized the auction, which aims to raise 2.5 billion euros ($2.8 billion). It follows successful 5-year and 10-year bond issues earlier this year.


Prime Day deal: Save over £400 on a Sony 55-Inch 4K HDR Ultra HD Smart TV  » 
16 Jul 2019, 9:53

Prime Day deal: Save over £400 on a Sony 55-Inch 4K HDR Ultra HD Smart TVTL;DR: The lightweight Sony 55-Inch 4K HDR Ultra HD Smart TV is on sale for £525, saving you over £400 on list price.* * *When it comes to 4K TVs, there is no better time to buy than Prime Day and Black Friday. It really doesn't matter if you find a great deal at another time of year, because you can be pretty sure the price will drop even further during the two biggest retail events of the year.This means you have until midnight on July 16 to save on a 4K TV, unless you want to wait until Black Friday, of course. That is a long way away though, and if you need a TV now, this is your best chance to grab a great deal. Read more...More about 4k Tv, Mashable Shopping, Shopping Uk, Uk Deals, and Prime Day 2019


North Korean nuclear envoy reported executed is alive: South Korea legislator  » 
16 Jul 2019, 9:51

North Korean nuclear envoy reported executed is alive: South Korea legislatorA North Korean nuclear envoy who steered talks before a failed summit with the United States in February is alive, a South Korean legislator said on Tuesday, contradicting a South Korean news report that he had been executed. There has been a series of conflicting reports in recent weeks about the fate of North Korea's negotiators after a second summit between North Korean leader Kim Jong Un and U.S. President Donald Trump broke down in Vietnam in February. Kim Hyok Chol, who led working-level talks in the run-up to that summit with his U.S. counterpart, Stephen Biegun, is alive, said Kim Min-ki, a lawmaker who was briefed by South Korea's intelligence agency.


EM Succumbs to Sub-Zero Epidemic as Debt Pile Doubles in a Week  » 
16 Jul 2019, 9:50

EM Succumbs to Sub-Zero Epidemic as Debt Pile Doubles in a Week(Bloomberg) -- A sinkhole of negative-yielding debt in emerging markets has doubled in size over the past week. This time last year it was non-existent.The amount outstanding soared to $246 billion, driven mostly by the growing pile of corporate debt with sub-zero rates, which almost tripled in seven days, according to data compiled by Bloomberg.Corporate heavyweights such as Petroleo Brasileiro SA and Energa SA, and sovereigns including Poland and Hungary have seen rates drop below zero as the dovish turn at the Federal Reserve and the European Central Bank fueled the clamor for yield. Emerging-market bonds handed investors 3.5% over the past two months, more than a percentage point above returns on U.S. Treasuries, according to Bloomberg Barclays indexes.The amount of negative-yielding corporate bonds almost tripled to $109 billion from a week agoSovereign bonds with sub-zero rates climbed about 50% to $136 billion“This is a global phenomenon, not an EM phenomenon,” said Warren Hyland, who manages emerging-market debt at Muzinich & Co. in London. “Ultimately if less and less of bonds generate a positive yield, that means more and more people are looking for a positive-yielding bond and EM has more of that than elsewhere.”Developing-nation debt attracted inflows for a fifth straight week through July 10, according to Bank of America Merrill Lynch, which cited EPFR Global data.(Updates with an explainer on how to get the data.)To contact the reporter on this story: Selcuk Gokoluk in London at sgokoluk@bloomberg.netTo contact the editors responsible for this story: Dana El Baltaji at delbaltaji@bloomberg.net, Robert BrandFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.


Oil Steady on Lower U.S. Stockpile Forecast While Storm Eases  » 
16 Jul 2019, 9:49

Oil Steady on Lower U.S. Stockpile Forecast While Storm Eases(Bloomberg) -- Oil traded near $60 a barrel amid forecast U.S. crude inventories fell for a fifth week, while some production in the Gulf of Mexico is returning as a tropical storm eased.Futures were up 0.2% in New York after sliding 1.1% on Monday. Oil producers and refiners along the coast are restoring operations after storm Barry was downgraded, with about 69% of crude output in the Gulf still shuttered, down from a peak of 73% on Sunday. American crude inventories probably declined by 2.75 million barrels, according to a Bloomberg survey.While oil has rallied about 16% since mid-June on shrinking American stockpiles, rising tensions with Iran and extended OPEC cuts, concerns about expanding supply and weakening demand continue to dent the outlook. China’s economy slowed to the weakest pace in almost three decades in the second quarter amid an ongoing trade dispute with the U.S., while the International Energy Agency said Friday that global inventories unexpectedly swelled in the first half of this year.“OPEC needs to keep a lid on production and potentially cut more if it’s going to continue to manage prices around the $70 a barrel mark,” Sanford C. Bernstein analyst Oswald Clint said in a Bloomberg TV interview. “In the short-term, given that we’re in peak driving season, we’re going to continue to see inventories draw.”August West Texas Intermediate rose by 13 cents to $59.71 on the New York Mercantile Exchange as of 10:46 a.m. in London. Brent for September settlement rose 13 cents to $66.61 a barrel on the ICE Futures Europe Exchange and traded at a premium of $6.80 to WTI for the same month.See also: How Great Shifts in Oil Market Calmed Panic Over 2020 Ship FuelRoyal Dutch Shell Plc and ConocoPhillips are among companies seeking to restore output at offshore platforms in the Gulf of Mexico now that weather conditions have improved after Barry made landfall. The region accounts for 16% of total U.S. crude oil production, according to the Energy Department.\--With assistance from James Thornhill, David Ingles and Yvonne Man.To contact the reporters on this story: Tsuyoshi Inajima in Tokyo at tinajima@bloomberg.net;Alex Longley in London at alongley@bloomberg.netTo contact the editors responsible for this story: Serene Cheong at scheong20@bloomberg.net, Christopher Sell, Rakteem KatakeyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.


Stocks Fluctuate as Big Banks Report; Dollar Gains: Markets Wrap  » 
16 Jul 2019, 9:44

Stocks Fluctuate as Big Banks Report; Dollar Gains: Markets Wrap(Bloomberg) -- Sign up for Next China, a weekly email on where the nation stands now and where it's going next.European stocks drifted with U.S. futures following a mixed session in Asia as investors looked to earnings and policy makers for the rally’s next catalyst. European bonds climbed and the dollar strengthened.The Stoxx 600 Index fluctuated, with construction firms gaining while real estate shares declined. Futures on the S&P 500 Index were little changed after the U.S. benchmark ended Monday at a record. Japanese shares dipped as traders returned from a holiday while South Korean stocks advanced. Treasuries were steady.Despite strong U.K. wage numbers, the pound weakened for a second day on fresh Brexit worries. The euro slipped as investor confidence in Germany’s economic outlook fell. Oil held below $60 a barrel as U.S. output returned after storm Barry was downgraded.Investors will be watching U.S. retail sales data later on Tuesday for clues on the health of the American economy, a day after Chinese figures showed signs of stabilization. Earnings season ramps up with JPMorgan Chase & Co., Goldman Sachs Group Inc. and Wells Fargo & Co. results due, and a slew of Federal Reserve speakers are scheduled to speak this week.Trade remains in the picture, with Treasury Secretary Steven Mnuchin saying he and U.S. Trade Representative Robert Lighthizer may travel to Beijing for negotiations if talks by phone this week are productive.“We are concerned about complacency as investors seem to believe the Fed will save the day, the U.S.-China trade dispute will be resolved relatively soon and massive China stimulus will boost global growth,” said Bob Doll, chief equity strategist and senior portfolio manager at Nuveen Asset Management. “Market risks lean more to the downside.”Here are some key events coming up:JPMorgan, Bank of America Corp., Goldman Sachs and Taiwan Semiconductor are among companies due to report results this week.U.S. June retail sales, due Tuesday, are expected to rise from the prior month.Monetary policy decisions are due in Indonesia, South Korea and South Africa on Thursday.These are the main moves in markets:StocksFutures on the S&P 500 Index dipped less than 0.05% as of 10:30 a.m. London time, the first retreat in more than a week.The Stoxx Europe 600 Index declined less than 0.05%.The Shanghai Composite Index fell 0.2%.The MSCI Emerging Market Index climbed 0.2%, the highest in more than a week.CurrenciesThe Bloomberg Dollar Spot Index advanced 0.1%, the largest gain in a week.The euro dipped 0.2% to $1.1238, the weakest in a week.The British pound decreased 0.5% to $1.2457, the largest dip in more than a month.The onshore yuan gained less than 0.05% to 6.875 per dollar.The Japanese yen dipped less than 0.05% to 107.92 per dollar.BondsThe yield on 10-year Treasuries declined less than one basis point to 2.09%.The yield on two-year Treasuries advanced one basis point to 1.84%.Germany’s 10-year yield decreased two basis points to -0.27%.Britain’s 10-year yield sank two basis points to 0.779%.Japan’s 10-year yield declined less than one basis point to -0.119%.CommoditiesWest Texas Intermediate crude advanced 0.3% to $59.77 a barrel.Iron ore dipped 0.1% to $116.31 per metric ton.Gold gained 0.1% to $1,416.18 an ounce.Soybeans decreased 0.5% to $9.15 a bushel.\--With assistance from Adam Haigh.To contact the reporter on this story: Yakob Peterseil in London at ypeterseil@bloomberg.netTo contact the editors responsible for this story: Samuel Potter at spotter33@bloomberg.net, Laura CurtisFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.


Former Mitsubishi workers seek assets sale for forced labor  » 
16 Jul 2019, 9:44

Former Mitsubishi workers seek assets sale for forced laborColonial-era Korean laborers are seeking a court's approval for the sales of local assets of their former Japanese employer after it refused to comply with a court order to compensate them for forced labor decades ago. The development comes amid growing tensions between South Korea and Japan. Tokyo recently tightened controls on high-tech exports to South Korea, a move Seoul believes is retaliation for the South Korean court rulings last year.


Boeing jet trouble leads to cuts at Europe's busiest airline  » 
16 Jul 2019, 9:42

Boeing jet trouble leads to cuts at Europe's busiest airline


UK pay growth strongest since 2008, but jobs boom slows  » 
16 Jul 2019, 9:39

UK pay growth strongest since 2008, but jobs boom slowsBritish wages, excluding bonuses, rose at their fastest pace in nearly 11 years, official data showed on Tuesday, but there were potential signs of future weakness in jobs growth, the economy's silver lining since the Brexit referendum. Including bonuses, pay growth beat all forecasts in the poll, rising to 3.4%, the Office for National Statistics said, with a change in the timing of public health workers' pay rises accounting for a small part of the increase. Many economists say the strength of Britain's labour market is at least in part due to employers hiring workers who they can later lay off if needed, rather than making longer-term investment commitments ahead of Brexit.


German investor morale darkens on trade disputes, Iran tensions  » 
16 Jul 2019, 9:37

German investor morale darkens on trade disputes, Iran tensionsThe mood among German investors deteriorated more sharply than expected in July, a survey showed on Tuesday, with the ZEW institute pointing to the unresolved trade dispute between China and the United States as well as political tensions with Iran. ZEW said its monthly survey showed economic sentiment among investors fell to -24.5 from -21.1 in June. The weak reading bodes ill for the German economy which is expected to post only meagre growth of 0.5 percent this year.


Pound Nears 2019 Lows as No-Deal Brexit Risk Comes Back in Play  » 
16 Jul 2019, 9:35

Pound Nears 2019 Lows as No-Deal Brexit Risk Comes Back in Play(Bloomberg) -- The pound fell the most among major currencies, approaching its 2019 low, as the contenders for U.K. prime minister doubled down on demands to renegotiate the Brexit deal.Sterling fell to a six-month low against the euro and is at the weakest ever for the time of year against the dollar, as Brexit negotiations appeared to turn more hostile. Both leadership contenders Boris Johnson and Jeremy Hunt have said the so-called backstop plan to avoid a hard border in Ireland, considered essential by Brussels, would need to be scrapped.The pound is struggling after a strong start to the year, hitting a two-year low versus the dollar earlier this month and suffering a record run of weekly losses against the euro. The next U.K. prime minister will be named next week, with the end-October Brexit deadline looming.“The pound weakness is a reaction to the two prime minister contenders opposing the Irish backstop, which dramatically reduces the chance for a Brexit with a deal,” said Thu Lan Nguyen, a currency strategist at Commerzbank AG. “So this leaves only two options, no-deal Brexit, or no Brexit. As both Johnson and Hunt have made clear they want Brexit, chances of a no-deal Brexit are rising.”The U.K. currency slipped 0.5% to $1.2457 by 10:17 a.m. in London, taking its total decline so far this month to 1.9%. It weakened 0.3% to 90.23 pence per euro, having touched the lowest since Jan. 11, and also fell against the Swiss franc to the weakest since August 2017.Money markets moved to price in a 50% chance of a Bank of England interest-rate cut in 2019 because of the risk of the U.K. crashing out of the European Union, as the politics outweighed better-than-expected labor market data. U.K. government bonds outperformed German bunds, with yields falling two basis points to 0.78%.A meeting of Brexit negotiators last week was one of the most difficult of the last three years, according to European officials, as they brace for talks to become more hostile under the next British government. Johnson and Hunt appeared to toughen their rhetoric in a debate late on Monday about the Irish backstop. Both have long said they want it renegotiated but last night they further limited their room for compromise.To contact the reporter on this story: Charlotte Ryan in London at cryan147@bloomberg.netTo contact the editors responsible for this story: Ven Ram at vram1@bloomberg.net, Neil Chatterjee, Scott HamiltonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.


Binance in talks to launch fiat-to-crypto exchange in South Korea  » 
16 Jul 2019, 9:35

Binance in talks to launch fiat-to-crypto exchange in South KoreaBinance, the world's largest cryptocurrency exchange by trading volume, could set up a shop in South Korea next. The exchange is reportedly in discussions with regulators to launch in the country, but with no concrete outcome yet.The post Binance in talks to launch fiat-to-crypto exchange in South Korea appeared first on The Block.


South Africa’s Zuma, back at inquiry, says his life is in danger  » 
16 Jul 2019, 9:31

South Africa’s Zuma, back at inquiry, says his life is in dangerFormer South African President Jacob Zuma said on Tuesday he had received a death threat after his testimony the previous day to an inquiry on corruption. Zuma told the inquiry on Monday that he had been the victim of a plot to get rid of him and that he could trace that conspiracy to foreign intelligence services and the apartheid government in the 1990s. Appearing again on Tuesday, Zuma said his personal assistant received a phone call late on Monday from an unknown caller threatening to kill Zuma and his children.


A year into trade war, Wall Street is the latest front for US suspicions about China  » 
16 Jul 2019, 9:30

A year into trade war, Wall Street is the latest front for US suspicions about ChinaChinese wealth manager Jupai Holdings started trading on the New York Stock Exchange in July 2015. A large firm investing money for well-off Chinese, Jupai was touted as a growth story for US investors " a way to tap into the budding but fast-growing Chinese financial market.It did not turn out as promised. Just two years later, the Shanghai firm was sued by Ninespot, a California-based video live streaming start-up, for fraud and breach of contract.According to court documents, Jupai failed to execute on a signed contract to invest US$18 million in Ninespot. The start-up was forced to close shop and decided to take Jupai, which manages US$8 billion in assets, to court.Since then, Jupai's stock began a precipitous slide, dropping more than 90 per cent in two years, to US$2.23 a share this month. In that period, US investors collectively lost nearly US$900 million.Jupai and Ninespot did not respond to requests seeking comment, and such disputes " where the investing party is sued for walking away from its legal commitment " are clearly not limited to Chinese investors or businesses. But the case underscores a long-standing worry on Wall Street about companies from a country with no real history of commitment to the rule of law.Even as China's economy expands, US investors' cry for vigilance concerning Chinese firms has grown louder " with Wall Street the latest front seeing US disengagement from China. Since the start of the trade war a year ago, Washington and Beijing's battle over tariffs has already spurred the two countries to decouple on trade, technology and cultural and research exchanges.These cries go beyond contract disputes to longstanding suspicions about vague, sometimes unreliable, financial reporting by these companies, and their across-the-board resistance to financial oversight."Cases like [Jupai] happen with businesses everywhere around the world, it happens with US companies. But they happen far more often with Chinese companies, hands down," said Jay Boyle, founder of Shanghai-based financial advisory ECFO Services, which advises cross-border merger deals for the past two decades.The Public Company Accounting Oversight Board (PCAOB), which oversees audits of publicly traded companies, maintains a list of foreign companies on US exchanges that have refused to have their auditing documents reviewed by US securities authorities. Currently, 224 companies are on that list; the organisation estimates that as many as 95 per cent of them have auditors based in mainland China or Hong Kong.Those firms include major Chinese businesses, including such household names as China Petroleum & Chemical, China Mobile, and JD.com " each with a market capitalisation in the tens of billions of dollars.Despite the trade war, 34 China-based companies raised US$9.2 billion in capital in the US last year, more than double similar activity in 2017, according to Dealogic. Four of them " online entertainment service provider iQiyi; online discount shopping site Pinduoduo; electric car maker Nio; and music streaming service Tencent Music Entertainment " each raised more than US$1 billion with public offerings on the US stock exchanges.Bin Li, the chief executive of Chinese electric vehicle maker Nio, rings a ceremonial bell during the company's initial public offering at the New York Stock Exchange in 2018. Photo: Reuters alt=Bin Li, the chief executive of Chinese electric vehicle maker Nio, rings a ceremonial bell during the company's initial public offering at the New York Stock Exchange in 2018. Photo: ReutersBut US investors who bought shares in these companies lost 13 per cent in that period.As the total market capitalisation of US-listed Chinese companies has ballooned to US$1.2 trillion, worry has grown that US investors are assuming risks they know little about.In a December joint statement, the US Securities and Exchange Commission and PCAOB singled out China-based companies listed in the US as the most significant challenge their inspectors faced."For certain China-based companies listed on US stock exchanges, the SEC and PCAOB have not had access to the books and records and audit work papers to an extent consistent with other jurisdictions, both in scope and timing," SEC chairman Jay Clayton said in the statement."China, at times, restricts the auditor's documentation from being transferred out of the country for national security reasons," he added.US Senator Kirsten Gillibrand of New York, shown last week in New Hampshire campaigning for president, is one of several senators increasingly critical of Chinese companies' lack of financial disclosure despite being listed on US exchanges. Photo: EPA-EFE alt=US Senator Kirsten Gillibrand of New York, shown last week in New Hampshire campaigning for president, is one of several senators increasingly critical of Chinese companies' lack of financial disclosure despite being listed on US exchanges. Photo: EPA-EFEDivided on many other issues, politicians in Washington have joined forces on this front. In June, four senators " Republicans Marco Rubio and Tom Cotton and Democrats Bob Menendez and Kirsten Gillibrand " sponsored a bill to hold Beijing accountable for openly disregarding US disclosure and transparency obligations.Lawmakers are also trying to pull the plug on another financial mechanism where the US markets have become more entwined with China.Earlier this year, MSCI and FTSE Russell " the two largest providers of global indexes " started to increase the weighting of mainland Chinese stocks in their emerging-markets indexes. US pension funds, mutual funds and other institutional investors that track the benchmarks, as a result, will be forced to add billions of dollars more to yuan-denominated shares of Chinese companies.In a letter last month to MSCI urging the index provider to reconsider its decision, Rubio wrote: "We can no longer allow China's authoritarian government to reap the rewards of American and international capital markets while Chinese companies avoid financial disclosure and basic transparency, and place US investors and pensioners at risk."New York Senator Gillibrand added that, "If China refuses to comply with international norms of transparency, then its companies should not have access to the US market."A spokesperson for MSCI did not comment.Beyond the transparency concerns, others warn of the risks of indexes that rely so heavily on Chinese companies. China is already the largest slice in the indexes, accounting for about 30 per cent of country weight in the benchmarks.The continued addition will increase that weight to 34 per cent, according to Steven Schoenfeld, chief investment officer at BlueStar Indexes, an index provider and investment research firm in New York."The growing weight of China is unprecedented. For any single country to have concentration like this is something potentially quite dangerous for investors," said Schoenfeld.Adding to that risk, "China, like many other emerging markets, have significant government influence in the economy and opaque corporate governance," Schoenfeld noted.American investors are not the only ones hurt by Chinese companies' nondisclosure culture.Around the same time Jupai went public in New York, its Chinese investors sued the company for selling fraudulent financial products for two years on behalf of another fund, according to local news reports. After losing their principal investment, the investors found out that the fund never existed."It's a systemic problem because the culture there values relationships more than it values the law," said Boyle, the ECFO adviser.Businesses in China, he said, can often get away with wrongdoing as long as they know the right people in power.As their exposure to Chinese firms has increased, US investors have learned just what that means.This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright © 2019 South China Morning Post Publishers Ltd. All rights reserved. Copyright (c) 2019. South China Morning Post Publishers Ltd. All rights reserved.


EU nominee von der Leyen makes her final case to lawmakers  » 
16 Jul 2019, 9:26

EU nominee von der Leyen makes her final case to lawmakersUrsula von der Leyen faced the European Parliament on Tuesday ahead of a knife-edge secret vote to confirm her in Brussels' top job. The 60-year-old conservative will replace Jean-Claude Juncker as president of the European Commission if she secures a majority in the Strasbourg assembly. If she fails -- and the ballot could be close -- then Europe faces a summer of institutional infighting between parliament and the 28 EU leaders.


Investor Outlook for German Economy Worsens Amid Industry Woes  » 
16 Jul 2019, 9:10

Investor Outlook for German Economy Worsens Amid Industry Woes(Bloomberg) -- Investor confidence in Germany’s economic outlook fell for a third month as persistent global trade tensions weigh on growth momentum.An index measuring prospects for the next six months fell to minus 24.5 in July, worse than economists had predicted. A gauge for the current situation fell below zero for the first time since 2010.Germany has been mired in a manufacturing slump for more than a year, and most recent numbers don’t hint at a turnaround. The Bundesbank predicts the economy shrank in the second quarter, and another investor survey suggests the economy may slip into a recession.Europe’s largest economy is deeply sensitive to waning global demand -- a trend reinforced after its most important trading partner reported its slowest economic growth since 1992.“The continued negative trend in incoming orders in the German industry is likely to have reinforced the financial market experts’ pessimistic sentiment,” said ZEW President Achim Wambach. An end to the issues hitting exporters is “currently not in sight,” he said.A gauge for the euro-area outlook declined marginally, with the decline in Germany offset by a gain for Italy. European Central Bank officials will meet next week and are expected to signal they’re willing to do more to support the region’s economy, including through lower interest rates or fresh asset purchases.\--With assistance from Kristian Siedenburg, Harumi Ichikura, Catarina Saraiva, Piotr Skolimowski and Carolynn Look.To contact the reporter on this story: Kristie Pladson in Frankfurt at kpladson@bloomberg.netTo contact the editors responsible for this story: Tom Contiliano at tcontiliano@bloomberg.net, Jana Randow, Fergal O'BrienFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.


Iran's judiciary confirms arrest of French-Iranian academic  » 
16 Jul 2019, 9:07

Iran's judiciary confirms arrest of French-Iranian academicIran's judiciary confirmed Tuesday the arrest of French-Iranian academic Fariba Adelkhah, after the French foreign ministry said she had been detained and denied contact with consular staff. "She is among suspects that have been recently arrested," judiciary spokesman Gholamhossein Esmaili said, without specifying the accusations against her. The detention of Adelkhah, a well-known expert on Iran and Shiite Islam at France's prestigious Sciences Po university, risks increasing tension between Paris and Tehran at a critical moment in efforts to save a landmark 2015 nuclear deal.


Best Hotels in the World That Are Surprisingly Cheap  » 
16 Jul 2019, 9:06

Best Hotels in the World That Are Surprisingly CheapYou can enjoy the finer things in life at a decent price.


EU goods trade gaps with U.S. and China widen  » 
16 Jul 2019, 9:03

EU goods trade gaps with U.S. and China widenThe European Union's trade surplus in goods with the United States and its deficit with China both increased in the first five months of 2019, figures that could add extra strain to global tensions. The European Union's surplus with the United States grew to 62.1 billion euros ($69.8 billion) in Jan-May 2019 from 55.4 billion euros in the same period of 2018, EU statistics office Eurostat reported on Tuesday. The United States has hit the European Union with tariffs and threatened more in complaint over the trade balance.


Philippine Stock Bulls Unfazed Amid Sharpest Drop in Six Weeks  » 
16 Jul 2019, 9:02

Philippine Stock Bulls Unfazed Amid Sharpest Drop in Six Weeks(Bloomberg) -- The bull run for Philippine stocks still has legs amid tailwinds of stronger corporate earnings, cooling inflation and continued monetary stimulus.The benchmark Philippine Stock Exchange Index entered the bull market on Monday after climbing more than 22% from a November low. The gauge is now the best performer in Southeast Asia and one of the top gainers in Asia this year. The surge was also propelled by a stronger peso, which has been among the best performing currencies in the region. The equities index shed 1.2% at the close Tuesday, the biggest loss in six weeks.“This is a healthy pullback considering the backdrop of favorable fundamentals from slowing inflation and prospect of further monetary easing," says Cristina Ulang, head of research at First Metro Investment Corp. “It’s a good opportunity to add names that have earnings growth visibility."Foreign investors have returned to the market -- which was among the worst performing last year, pouring more than $455 million into equity funds this year. That improvement was partly due to fund inflow after investors finished adjusting allocation on the back of MSCI Inc.’s expansion of China weighting in some of its benchmarks.“After building momentum in the last two months, the market has convincingly broken the ceiling at 8,100 and it looks like there’s still enough gas in the tank for it to move higher,” said Jonathan Ravelas, chief market strategist at BDO Unibank Inc. “Some of those who were hesitating jumped in for fear of getting left behind.”The nation’s market was roiled by the U.S.-China trade war, escalating inflation and a weakening peso last year. Foreign investors pulled over $1 billion out of the nation’s stocks in 2018 -- their biggest withdrawal in three years, according to data compiled by Bloomberg.A double digit growth in second-quarter earnings at SM Prime Holdings Inc., the nation’s largest shopping mall operator, supports expectations that household spending has recovered and corporate results will be better than the first quarter, according to Ravelas. SM Prime fell 0.6% Tuesday, after soaring 3.1% on Monday.Stronger corporate earnings combined with falling inflation and a less tighter monetary condition will help propel the index to 8,500 in the near term, he said.All but three of the PSEi’s 30 components have gained since the low in November with JG Summit Holdings Inc. and First Gen Corp. surging more than 60%. About half of the gauge lagged the index’s 21% gain from the November-low through Tuesday, including SM Investments Corp. and Jollibee Foods Corp.While the bull market will be well supported with valuation still at “reasonable“ level, “investors should rotate money from the winners to the laggards as the round of portfolio adjustments that will come with changes in the MSCI in August will provide headwinds and temper gains,” said Miguel Ong, analyst at AP Securities Inc.(Adds index closing level in second paragraph.)\--With assistance from Matt Turner.To contact the reporter on this story: Ian Sayson in Manila at isayson@bloomberg.netTo contact the editors responsible for this story: Cecilia Yap at cyap19@bloomberg.net, Lianting TuFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.


Jeff Bezos Quietly Bet on These 15 Companies — Why You Should, Too  » 
16 Jul 2019, 9:02

Jeff Bezos Quietly Bet on These 15 Companies — Why You Should, TooSee where the Amazon founder is investing his money.


IHOP has a 58-cent pancake deal for its 61st anniversary Tuesday  » 
16 Jul 2019, 9:00

IHOP has a 58-cent pancake deal for its 61st anniversary TuesdayAmazon Prime Day isn't the only time to save money this month. IHOP has a sweet pancake deal Tuesday and National Hot Dog Day is Wednesday.


Energy Transfer Weighs Sale of Rover Pipeline Stake  » 
16 Jul 2019, 9:00

Energy Transfer Weighs Sale of Rover Pipeline Stake(Bloomberg) -- Energy Transfer LP, the U.S. pipeline giant controlled by billionaire Kelcy Warren, is weighing the sale of its 33% stake in a conduit that carries Appalachian natural gas to customers across the Midwest, according to people familiar with the matter.The Dallas-based pipeline operator has hired an adviser to pursue a potential sale of its operated interest in the Rover pipeline, said the people, who asked not to be named because the information isn’t public. The stake could fetch as much as $2.5 billion, one of the people said.No decision has been made and Energy Transfer could opt not to sell, the people said. A representative for the company declined to comment. Energy Transfer rose 0.6% to close at $14.91 a share.Rover is 713 miles (1,148 kilometers) long and can shuttle 3.25 billion cubic feet of gas daily to customers across Ohio and Michigan, and as far away as Ontario. The project was originally expected to cost $4.2 billion and entered full service last year after a series of delays and construction missteps, including the bulldozing of a historic house in Ohio that the company had said it was buying for office space.When the project came online, gas drillers got relief from bottlenecks that had plagued the Marcellus and Utica shale fields in Appalachia, where a production boom aggravated shipping constraints. Rover can handle as much as 10% of total Appalachian gas output.Energy Transfer sold a 32% stake in Rover to funds managed by Blackstone for about $1.57 billion in 2017. Together, Energy Transfer and Blackstone control 65% of Rover through an entity called “HoldCo,” according to a regulatory filing. Traverse Midstream, formed in 2014 by a former affiliate of private equity firm NGP Energy Capital Management, owns the remaining 35%.Proceeds from a sale of the Rover stake could be used by Energy Transfer to make an acquisition. The company is among those looking at a 20% stake in a crude-oil export project in Corpus Christi, Texas, a person familiar with the matter said last month.“We kiss a lot of frogs looking for a prince,” Warren said during a conference call in November. “We are working it hard. I will tell you, though, we are not finding any deals.”To contact the reporters on this story: Rachel Adams-Heard in Houston at radamsheard@bloomberg.net;Kiel Porter in Chicago at kporter17@bloomberg.netTo contact the editors responsible for this story: Simon Casey at scasey4@bloomberg.net, Christine BuurmaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.


North Korea says nuclear talks at risk if U.S.-South Korea exercises go ahead  » 
16 Jul 2019, 8:58

North Korea says nuclear talks at risk if U.S.-South Korea exercises go aheadThe United States looks set to break a promise not to hold military exercises with South Korea, putting talks aimed at getting North Korea to abandon its nuclear weapons at risk, the North Korean Foreign Ministry said on Tuesday. The United States' pattern of "unilaterally reneging on its commitments" is leading Pyongyang to reconsider its own commitments to discontinue tests of nuclear weapons and intercontinental ballistic missiles (ICBMs), the ministry said in a pair of statements released through state news agency KCNA. U.S. President Donald Trump revitalized efforts to persuade the North to give up its nuclear weapons last month when he arranged a spur-of-the-moment meeting with North Korean leader Kim Jong Un on the border between the two Koreas.


ECB should not rely too much on markets for inflation expectations - Villeroy  » 
16 Jul 2019, 8:57

ECB should not rely too much on markets for inflation expectations - VilleroyCentral banks should not only be independent from political pressures but also from short-term pressures such as financial markets' perceptions of inflation, ECB policymaker Francois Villeroy de Galhau said on Tuesday. Global central banks are facing increased calls from politicians on both sides of the Atlantic to conduct easy monetary policies that suit their agendas. Meanwhile, bond yields have dropped recently in the face of weak economic data, putting pressure on central banks to carry out drastic new monetary stimulus to keep inflation expectations from collapsing.


Bitcoin dips below $12,000 as market sees red  » 
16 Jul 2019, 8:55

Bitcoin dips below $12,000 as market sees redIn under a day, the cryptocurrency market fell by $46 billion, painting a bleak picture.


Bitcoin mining rig prices are soaring  » 
16 Jul 2019, 8:55

Bitcoin mining rig prices are soaringBitcoin’s rising price and the scarcity of new machines mean that even second-hand mining rigs are now worth five times what they were a year ago.


Electroneum’s radical new upgrade ushers in nonprofit miners  » 
16 Jul 2019, 8:55

Electroneum’s radical new upgrade ushers in nonprofit minersThe blockchain platform has boosted its security with a new Proof of Responsibility protocol, inspired by Facebook’s Libra.


Samsung unveils Galaxy tools for Ethereum developers  » 
16 Jul 2019, 8:55

Samsung unveils Galaxy tools for Ethereum developersThe release of tools for mobile dapp development, by the electronics giant, continues to favor Ethereum over other blockchains.


Lightning Network security took $23,000 from thieves says new report  » 
16 Jul 2019, 8:55

Lightning Network security took $23,000 from thieves says new reportA security measure known as ‘Justice transactions’ used by the Lightning Network removed 2.22 bitcoin from dishonest nodes says BitMex Research.


Vitalik Buterin: Use Bitcoin Cash to improve Ethereum scalability  » 
16 Jul 2019, 8:55

Vitalik Buterin: Use Bitcoin Cash to improve Ethereum scalabilityThe Ethereum co-founders’ suggestion—meant as a stopgap while the blockchain readies its major upgrade—has been greeted with incredulity.


Tether loaned USDT to investors and illegally traded in New York, say investigators  » 
16 Jul 2019, 8:55

Tether loaned USDT to investors and illegally traded in New York, say investigatorsThe New York Attorney General brings forth more damning details about Bitfinex and Tether’s alleged violations, and says they loaned USDT to investors.


Bitcoin finally gets an ‘A’ from Weiss Ratings  » 
16 Jul 2019, 8:55

Bitcoin finally gets an ‘A’ from Weiss RatingsAfter a cagey two years, the crypto ratings agency elevates bitcoin to the top of its investment charts.


U.S. foes are weaponizing cryptocurrency says new report  » 
16 Jul 2019, 8:55

U.S. foes are weaponizing cryptocurrency says new reportRussia, China and Iran are working on national digital coins. But that’s not the only way they use cryptocurrency as a response to U.S. economic dominance.


BitPoint discovers another $2.3 million has been stolen  » 
16 Jul 2019, 8:55

BitPoint discovers another $2.3 million has been stolenAfter an initial hack costing $32 million, BitPoint has revealed that an additional $2.3 million has been discovered missing.


Virtual Commodity Association creates six regulatory committees  » 
16 Jul 2019, 8:55

Virtual Commodity Association creates six regulatory committeesThe VCA wants a self-regulating crypto watchdog to protect U.S. crypto investors.


Fed Chairman: Facebook’s Libra “cannot go forward” without addressing serious concerns  » 
16 Jul 2019, 8:55

Fed Chairman: Facebook’s Libra “cannot go forward” without addressing serious concernsFacebook’s Libra raises major concerns regarding privacy and financial stability, Federal Reserve Chairman Powell said to a Congressional committee today.


Police enter Tron’s Beijing office following Ponzi scheme suicide  » 
16 Jul 2019, 8:55

Police enter Tron’s Beijing office following Ponzi scheme suicideVictims of a Ponzi scheme that defrauded hundreds of thousands are blaming the Tron CEO for his failure to disassociate the platform from the scam.


Chainlink begins selling its ICO proceeds  » 
16 Jul 2019, 8:55

Chainlink begins selling its ICO proceedsChainlink has been dropping batches of 700,000 LINK on the market, playing havoc with its price.


Bitcoin tax: the U.S. & Singapore go to extremes  » 
16 Jul 2019, 8:55

Bitcoin tax: the U.S. & Singapore go to extremesThe U.S. IRS proposes electronic surveillance to weed out Bitcoin tax evasion whereas Singapore plans to exempt cryptocurrencies from value-added tax.


China accelerates its state-run cryptocurrency efforts to stop Libra  » 
16 Jul 2019, 8:55

China accelerates its state-run cryptocurrency efforts to stop LibraChina’s central bank is stepping up its plan for a digital currency—to keep out the Zuckerbergs.


Binance rolls out margin trading  » 
16 Jul 2019, 8:55

Binance rolls out margin tradingAfter weeks of hints and speculation, Binance’s much anticipated margin trading platform is now available. Stay safe, kid.


Number (almost) go up: Tether inadvertently prints five billion unbacked tethers  » 
16 Jul 2019, 8:55

Number (almost) go up: Tether inadvertently prints five billion unbacked tethersSome 4.95 billion too many tethers were minted yesterday. This time, number stay relatively still.


Japan’s Bitpoint crypto exchange hacked for $32 million  » 
16 Jul 2019, 8:55

Japan’s Bitpoint crypto exchange hacked for $32 millionThis is the same exchange that reportedly sold Mt Gox’s bitcoin last year on behalf of its trustee.


Bram Cohen at last releases his Chia Network’s “green paper”  » 
16 Jul 2019, 8:55

Bram Cohen at last releases his Chia Network’s “green paper”By showing what he’s been working on for the last two years, Cohen hopes to entice developers to jump on board—that and a new, $100,000 coding competition.


SEC greenlights a second crypto offering: YouNow’s Props tokens  » 
16 Jul 2019, 8:55

SEC greenlights a second crypto offering: YouNow’s Props tokensYouNow and the Prop Network become only the second crypto business to receive the SEC’s blessing to distribute its tokens to the general public.


Donald Trump blasts Bitcoin, Facebook’s Libra in Twitter tirade  » 
16 Jul 2019, 8:55

Donald Trump blasts Bitcoin, Facebook’s Libra in Twitter tiradePresident Trump makes his opinions on cryptocurrencies like Bitcoin and Libra known publicly for the first time. Surprise, he isn’t a fan.


Prediction market Veil shuts down  » 
16 Jul 2019, 8:55

Prediction market Veil shuts downCrypto-based prediction marketplace Veil wasn’t decentralized or regulated, so was its fate sealed?


Binance burns 800,000 BNB but with a twist  » 
16 Jul 2019, 8:55

Binance burns 800,000 BNB but with a twistThis time the coins will come out of the employee’s own 80 million supply—and they’re cool with this.





Technology

7 tax scams to watch out for this year  » 
7 Apr 2019, 12:00

7 tax scams to watch out for this yearIn case wringing your hands over the tax man weren’t enough, criminals are out there trying to swipe your hard-earned cash and personal information from right under your nose.


Mother Angry After School's Robocall Keeps Mispronouncing Daughter's Name As A Racial Slur  » 
2 Nov 2017, 18:48

Mother Angry After School's Robocall Keeps Mispronouncing Daughter's Name As A Racial SlurThe daughter's name is Nicarri.


Avowed Apple Fan Jeb Bush Realizes His Apple Watch Can Take Phone Calls  » 
13 Jan 2016, 23:22

Avowed Apple Fan Jeb Bush Realizes His Apple Watch Can Take Phone CallsJeb Bush's love of Apple products has been widely documented, and the Republican presidential candidate continues to wear his Apple Watch on the campaign trail. Yesterday, in a meeting with The Des Moines Register editorial board documented by USA Today, Bush stumbled upon a feature he didn’t realize his smartwatch was capable of: taking phone calls. Somehow Bush managed to take a call without picking up his iPhone, and the sound of a person’s voice saying hello breaks through the meeting noise, to which Bush responds, “My watch can’t be talking.”


Social media welcomes Pope Francis to the United States  » 
22 Sep 2015, 23:29

Social media welcomes Pope Francis to the United StatesPope Francis gets the social media treatment upon arriving in the U.S. Tuesday. As Pope Francis’s flight touched down in Washington, D.C. on Tuesday, Twitter unveiled a new batch of emojis created for the highly anticipated papal visit. Until his departure from the United States on Sunday, Twitter users chronicling the Catholic leader’s East Coast journey will be able to include a cartoon image of the Pope’s face in front of the American flag on all Pope-related tweets by using the hashtag #PopeinUS.






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