Бізнес, Новини, Фінанси

Twitter Reports Drop in Active Users; Share Price Sinks

Twitter’s share price fell more than 20 percent Friday after the social media giant reported a drop in active users. 

Twitter said it had 335 million monthly users in the second quarter of the year, which was down a million from the amount of monthly users in the first quarter of the year, and below the 339 million users Wall Street was expecting.

Twitter said that the number of monthly users could continue to fall next quarter as the company continues to ban accounts that violate its terms of service and as it makes other accounts less visible.

The company says it is putting the long-term stability of its platform above user growth. However, the move has made it more difficult for investors to value the company, as they rely on data pertaining to the platform’s potential user reach.

Shares in Twitter tumbled 20.5 percent to close at $34.12 Friday. The fall in the share price came despite Twitter’s report of higher than expected revenue. During the last quarter, Twitter posted a profit of $100 million, marking the company’s third consecutive profitable quarter.

The drop in Twitter’s share price came a day after Facebook lost 19 percent of its value. Facebook said Thursday that slower user growth in big markets and increased spending to improve privacy would hit margins for years, leading to the company’s worst trading day since it went public in 2012.

Both Twitter and Facebook have been under pressure from regulators in several countries to protect user data as well as stamp out hate speech and misinformation.
…

ЄС, Новини, Світ

Some Music Festivals Fuel Rightist Extremism, German Officials Say

Music festivals have gained serious significance for right-wing extremists in their effort to draw more supporters in Germany and across Europe, the country’s domestic intelligence agency told VOA on Friday.

The Federal Office for the Protection of the Constitution, or BfV, said it estimated the number of right-wing extremists in Germany at 24,000 in 2017, up from 23,100 in 2016. Over half of them were thought to have no affiliation with organized groups while 4,500 showed allegiance to the National Democratic Party of Germany (NPD).

Unlike previous years, when a small number of organized music festivals by right-wing members attracted only few participants, they now draw thousands of participants, said Elke Altmuller, a spokesperson for BfV.

“These events are very attractive for young people to bring them into the right-wing extremism scene,” Altmuller said. They are also important for networking and “bring a lot of money to the local right-wing extremism scene,” she added.

According to BfV, the biggest right-wing concert, “Rock Against Foreign Domination,” was held last July in Themar, where 6,000 people gathered, including supporters from Austria, the Czech Republic, Hungary, Italy, Switzerland and Slovakia.

Videos obtained from the event by police showed dozens of people displaying the Hitler salute and chanting anti-immigrant slogans.

Nazi symbols are illegal in Germany and their display is associated with anti-Semitism and glorification of Nazi crimes.

Despite the surge in the number of supporters, German authorities point to a significant decline in violence by right-wing extremists, from 907 recorded cases in 2016 to 286 in 2017. Most of the attacks targeted accommodation centers for asylum seekers.

According to the BfV spokesperson, the drop in the violence is mainly due to country’s courts imposing long prison sentences against perpetrators and the fading of the anti-asylum debate within the right-wing extremist arena.

“But in general, you have to notice that the decline of violence does not mean there is not any danger of violence by the individual actors in this scene,” Altmuller added.

Debate over immigration

In recent years, Germany has been faced with divisions and fierce debate about the country’s immigration and asylum policies. Far-right leaders blame “the refugee crisis” and “the asylum problem” for security breaches in the country.

In its annual report published Tuesday, the BfV estimated that in 2017 there were over 25,000 “Islamist followers” in the country, with more than 10,000 having links to Salafists.

The report warned that the risk of attacks by lone jihadists and those who returned from fighting in Syria and Iraq remained high in Germany.

“It still has to be expected that there will be members, supporters and sympathizers of extremist and terrorist organizations covertly entering Germany among the migrants,” the report concluded.

The agency’s investigation found that violence committed by extremists in various politically motivated areas in Germany had declined, but the number of potential extremists had gone up.
…

ЄС, Новини, Світ

Armenian Court Announces Arrest of Former President Kocharyan

An Armenian court on Friday announced the arrest of former president Robert Kocharyan, whom special investigators had recently charged with usurping power.

Yerevan City Court of General Jurisdiction announced Kocharyan’s detention less than a day after Armenian investigators filed a motion to have him arrested.

One of Kocharyan’s defense lawyers, Aram Orbelyan, refused to give any further details of the arrest, citing the confidentiality of the preliminary investigation. He said his team is preparing a response that will be read at a news conference July 28.

Mikael Harutyunyan, Kocharyan’s former defense chief, has also been charged in the case. It is not known whether he has been arrested.

Kocharyan’s arrest comes three months after a transfer of power in the ex-Soviet country following weeks of mass protests against corruption and cronyism.

Kocharyan served as Armenia’s second president from 1998 to 2008, and investigators have charged him with an attempt to overthrow the constitutional order during post-election events in March 2008 when his ally, Serzh Sarksyan, was elected the next president.

In February-March 2008 the opposition held protest rallies, contesting the results of the election and claiming that their candidate, Levon Ter-Petrosyan, had won the vote.

The protests were dispersed and 10 people were killed in clashes with police. The Constitutional Court upheld the election results.

Nikol Pashinyan, an opposition activist at the time who was imprisoned in June 2009 on charges of fomenting unrest during post-election protests, was elected prime minister by parliament on May 8 this year.

Kocharyan, who just returned from Europe, said the latest charges were politically motivated, but added he was ready to spend time in prison.

“These charges are fiction, fabricated, unjustified and have a political implication,” he told an independent Armenian Yerkir Media TV, adding that he would refuse to testify or cooperate with investigators “because of the trumped up nature of charges.”

However, Kocharyan said, he did not intend to run away.

“I’m going to go sit in prison and fight to the end.”

U.S. reaction

After the deadly clashes, the United States issued a report condemning what it called “arbitrary and unlawful killings.”

On Friday, a State Department spokesperson said: “The United States has consistently urged Armenia’s authorities to conduct a serious, credible and independent investigation into these events. We continue to stress to our Armenian partners the importance of respecting internationally recognized standards that relate to the administration of justice.”

Numerous allies of former presidents Sarksyan and Kocharyan have been involved in a series of unrelated anti-corruption probes launched under Pashinyan’s administration.

In a recent interview with VOA’s Armenian Service, Ararat Mirzoyan, Pashinyan’s deputy prime minister, said none of the anti-corruption probes are politically motivated.

“This is not our fault that the 99 percent of all discoveries deal with people from a certain political party,” he said. “That is the party that has been in power. That is the party that refused to transfer the power. That is the party that used all levers to extend their personal power. There is no intent there, rather just statistics. We said that there will be no political vendetta, and we are confident in that.”

This story originated in VOA’s Armenian Service. Some information is from Reuters.
…

Бізнес, Новини, Фінанси

Facebook Sued after Stock Plunge

Facebook Inc and its chief executive, Mark Zuckerberg, were sued Friday in what could be the first of many lawsuits over a disappointing earnings announcement by the social media company that wiped out about $120 billion of shareholder wealth.

The complaint filed by shareholder James Kacouris in Manhattan federal court accused Facebook, Zuckerberg and Chief Financial Officer David Wehner of making misleading statements about or failing to disclose slowing revenue growth, falling operating margins, and declines in active users.

Kacouris said the marketplace was “shocked” when “the truth” began to emerge Wednesday from the Menlo Park, California-based company. He said the 19 percent plunge in Facebook shares the next day stemmed from federal securities law violations by the defendants.

The lawsuit seeks class-action status and unspecified damages. A Facebook spokeswoman declined to comment.

Shareholders often sue companies in the United States after unexpected stock price declines, especially if the loss of wealth is large.

Facebook has faced dozens of lawsuits over its handling of user data in a scandal also concerning the U.K. firm Cambridge Analytica. Many have been consolidated in the federal court in San Francisco.

Thursday’s plunge also hit Zuckerberg’s bottom line.

Zuckerberg had been tied with Warren Buffett as the world’s fourth-richest person, but the Berkshire Hathaway Inc chairman’s current $83 billion fortune tops Zuckerberg’s $66 billion, Forbes magazine said.

Buffett now ranks third among the world’s billionaires, while Zuckerberg is sixth.

Facebook shares fell another 0.8 percent on Friday, closing at $174.89 on the Nasdaq.
…

Бізнес, Новини, Фінанси

Factbox: Impact of US Trade Tariffs on European Companies

Some European companies are rethinking their strategies to cushion the impact of trade tensions between the world’s two biggest economies, the United States and China.

The focus will switch back to China after a truce on tariffs emerged from U.S. President Donald Trump’s meeting with European Commission President Jean-Claude Juncker on July 25.

Trump and Juncker agreed to suspend any new tariffs on the European Union, including a proposed 25 percent levy on auto imports, and hold talks over duties on imports of European steel and aluminum.

However, Trump retained the power to impose tariffs, if no progress is made.

In the case of China, Trump threatened this month that he was ready to impose tariffs on an additional $500 billion of imports.

The United States has already imposed tariffs on $34 billion of Chinese imports. In return, China has levied taxes on the same value of U.S. products.

Below are recent comments from European companies on trade tensions:

  • Mercedes maker Daimler blamed U.S.-China tariffs for a 30 percent drop in second-quarter profit announced on July 26 and prefigured in a profit warning last month.

  • French electrical equipment company Schneider Electric said on July 26 that it foresaw growth slowing in the second half of the year and expected the first extra costs linked to higher U.S. tariffs, which could reach 20 million

euros.

  • “If the trade war escalates we are more concerned about the consequences that it can have on global macro environment,” STMicro’s new Chief Executive Jean-Marc Chery, said on July 25, adding that direct impact of trade war risks were currently “negligible.”

  • Fiat Chrysler cut 2018 outlook on July 25, hurt by weaker performance in China. Its operating profit for the second-quarter was negatively impacted by China import duty changes.

  • French mining group Eramet warned that current favorable markets could be hurt by trade rows.

  • Chief Executive Frans van Houten confirmed Philips’ sales growth target for this year on July 23, but added that trade worries and the unknown consequences of Brexit continued to cause uncertainty.

  • Finnish steel maker Outokumpu sees two-fold impact from the U.S. tariffs, with surging imports to Europe resulting in heavy price pressure, whilst in the Americas, base prices have risen throughout spring benefiting local manufacturers, including the company.

  • Fellow Finnish company Valmet said tariff increases could derail the recovery and depress its medium-term growth prospects.

  • Chinese-owned Volvo Cars (IPO-VOLVO.ST) said it was shifting production of its top-selling SUV production for the U.S. market to Europe from China to avoid Washington’s new duties on Chinese imports.

  • German automaker BMW said this month that it would be unable to “completely absorb” a new 25 percent Chinese tariff on imported U.S.-made models and would have to raise prices on the vehicles made in South Carolina.

  • The Alliance of Automobile Manufacturers, whose members include General Motors Co, Volkswagen AG and Toyota Motor Corp, also warned on the impact of the tariffs. A study released by a U.S. auto dealer group warned

that the tariffs could cut U.S. auto sales by 2 million vehicles.

  • Sweden’s Electrolux said on July 18 that the U.S. tariffs announced at the beginning of July would have an impact of $10 million plus this year. In the third quarter, it expects raw material costs to rise by 0.5 billion Swedish

crowns.

  • Belgian steel wire maker Bekaert reported on the same day that it sees underlying operating profit 20 percent below analysts’ estimates in the first half, blaming wire rod costs partly driven up by tariffs.

  • Swedish lock maker Assa Abloy’s CEO said on July 18 that he sees an important further increase in steel prices in the second part of the year in U.S., partly due to new import tariffs. He expects price hikes to compensate better for the higher cost in the last six month of the year than in the second quarter.

  • Austrian steelmaker Voestalpine said on June 6 that about a third of its U.S. sales would be impacted by Washington’s steel import tariffs, adding that it was talking to its customers about who would bear the cost.

  • Norway’s REC Silicon booked an impairment charge of $340 million “due to the market disruption from the curtailment of solar incentives in China, as well as continued trade barriers that prevent access to primary markets inside

China.”

“We need the U.S. and Chinese governments to cooperate in ending the solar trade dispute … to prevent additional job losses and to enhance the value of the solar industry in the U.S. and China.”
…

Бізнес, Новини, Фінанси

Court: Starbucks, Others Must Pay Workers for Off-Clock Work

Starbucks and other employers in California must pay workers for minutes they routinely spend off the clock on tasks such as locking up or setting the store alarm, the state Supreme Court ruled Thursday.

The unanimous ruling was a big victory for hourly workers in California and could prompt additional lawsuits against employers in the state.

The ruling came in a lawsuit by a Starbucks employee, Douglas Troester, who argued that he was entitled to be paid for the time he spent closing the store after he had clocked out.

Troester said he activated the store alarm, locked the front door and walked co-workers to their cars — tasks that he said required him to work for four to 10 additional minutes a day.

Starbucks said it was disappointed with the ruling. In a brief filed with the California Supreme Court, attorneys for Starbucks said Troester’s argument could lead to “innumerable lawsuits over a few seconds of time.” The U.S. Chamber of Commerce in a court filing also warned of the possibility of “significant liability” to businesses in the state.

A U.S. District Court rejected Troester’s lawsuit on the grounds that the time he spent on those tasks was minimal. But the California Supreme Court said a few extra minutes of work each day could “add up.”

Troester was seeking payment for 12 hours and 50 minutes of work over a 17-month period. At $8 an hour, that amounts to $102.67, the California Supreme Court said.

“That is enough to pay a utility bill, buy a week of groceries, or cover a month of bus fares,” Associate Justice Goodwin Liu wrote. “What Starbucks calls ‘de minimis’ is not de minimis at all to many ordinary people who work for hourly wages.”

Trivial and not trivial

The ruling also applies to tasks done before the workday begins, said Bryan Lazarski, an attorney in Los Angeles who handles wage claims against employers.

Lazarski said he expects the ruling to open the door to additional lawsuits by workers in similar situations as Troester. But he also expects lawsuits that “test the boundary of what this case says” to determine how much time spent doing work off the clock is enough to get paid.

The court in Thursday’s ruling said it was not closing the door on all claims by employers that the amount of additional work was too negligible.

“The court is saying, ‘We haven’t really drawn a line with regard to what is trivial and what is not trivial, but in this case, the time that the employee was not compensated was significant,'” said Veena Dubal, a labor law expert at the University of California, Hastings College of the Law.

Associate Justice Leondra Kruger wrote separately to say that there may be some periods of time that are “so brief, irregular of occurrence, or difficult to accurately measure or estimate,” that requiring an employer to account for them would not be reasonable.

She cited as examples a glitch that delays logging in to a computer to start a shift or having to read and acknowledge an email or text message about a schedule change while off the clock.

Tracking time

The federal court that threw out Troester’s lawsuit also said it would be hard for an employer to track the additional time that he worked. But Liu said employers could use technology for that or restructure employees’ work so they don’t have any tasks after they clock out.

Employers can also estimate the additional time, he said.

Troester appealed the U.S. District Court’s decision to the 9th U.S. Circuit Court of Appeals. The appeals court asked the California Supreme Court to determine whether a federal rule permitting employers under some circumstances to require employees to work as much as 10 minutes a day without compensation applied under state law.

The lawsuit now returns to the 9th Circuit. 
…

ЄС, Новини, Світ

BRICS Nations Pledge Trade Unity

Five of the biggest emerging economies Thursday stood by the multilateral system and vowed to strengthen economic cooperation in the face of U.S. tariff threats and unilateralism.

The heads of the BRICS group — Brazil, Russia, India, China and South Africa — met in Johannesburg for an annual summit dominated by the risk of a U.S.-led trade war, although leaders did not publicly mention President Donald Trump by name.

“We express concern at the spill-over effects of macro-economic policy measures in some major advanced economies,” they said in joint statement.

“We recognize that the multilateral trading system is facing unprecedented challenges. We underscore the importance of an open world economy.”

​Trump tariffs

Trump has said he is ready to impose tariffs on all $500 billion (428 billion euros) of Chinese imports, complaining that China’s trade surplus with the U.S. is the result of unfair currency manipulation.

Trump has slapped levies on goods from China worth tens of billions of dollars, as well as tariffs on steel and aluminum from the EU, Canada and Mexico.

Xi and Putin

“We should stay committed to multilateralism,” Chinese President Xi Jinping said on the second day of the talks. “Closer economic cooperation for shared prosperity is the original purpose and priority of BRICS.”

Russian President Vladimir Putin, who had a controversial meeting with Trump last week, echoed the calls for closer ties among BRICS members and for stronger trade within group.

“BRICS has a unique place in the global economy: This is the largest market in the world, the joint GDP is 42 percent of the global GDP and it keeps growing,” Putin said.

“In 2017, the trade with our BRICS countries has grown 30 percent, and we are aiming at further developing this kind of partnership.”

Erdogan attends

Turkish President Recep Tayyip Erdogan is also attending the summit as the current chair of the Organization of Islamic Cooperation (OIC) and met with Putin on the sidelines Thursday.

“Our bilateral relations are improving certainly,” the Kremlin cited Putin as saying, hailing the two countries’ cooperation on Syria and in economic matters.

Erdogan in turn spoke about “rapidly developing bilateral relations,” according to the Kremlin, which did not elaborate.

The BRICS group, comprising more than 40 percent of the global population, represents some of the biggest emerging economies, but it has struggled to find a unified voice.

​US and EU deal

Analysts say U.S. trade policy could give the group renewed purpose.

In Washington, Trump and European Commission chief Jean-Claude Juncker announced an apparent truce in their trade war after White House talks Wednesday.

The U.S. and the EU will “immediately resolve” their dispute over U.S. steel and aluminum tariffs and subsequent EU countermeasures, U.S. Treasury Secretary Steven Mnuchin confirmed Thursday.

The dollar gained against the euro after the announcement, helping to boost eurozone equities.

The punishing U.S. metals tariffs had angered Washington’s major trading partners, including the EU, and sparked retaliation against important American exports, spooking global stock markets.

Xi arrived in South Africa for the BRICS summit after visiting Senegal and Rwanda as part of a whistle-stop tour to cement relations with African allies.

On Friday, African leaders attending a “BRICS outreach” program will include Paul Kagame of Rwanda, Joao Lourenco of Angola, Macky Sall of Senegal and Yoweri Museveni of Uganda.
…

ЄС, Новини, Світ

Armenia Charges Ex-President Kocharyan, Seeks His Arrest

Armenian investigators on Thursday charged former President Robert Kocharyan with usurping power and filed a court motion to arrest him, the special investigation service said.

The move comes three months after a power change in the ex-Soviet country following weeks of mass protests against corruption and cronyism.

Kocharyan served as Armenia’s second president from 1998 to 2008 and investigators have charged him with an attempt to overthrow the constitutional order during post-election events in March 2008, when his ally Serzh Sarksyan was elected the next president.

In February-March 2008 the opposition held protest rallies, contesting the results of the election and claiming that their candidate, Levon Ter-Petrosyan, had won the vote.

The protests were dispersed and 10 people were killed in clashes with police. The Constitutional Court upheld the election results.

Nikol Pashinyan, an opposition activist at the time who was imprisoned in June 2009 on charges of fomenting unrest during post-election protests, was elected prime minister by parliament on May 8 this year.

Kocharyan said the latest charges were politically motivated, but added he was ready to spend time in prison.

“These charges are fiction, fabricated, unjustified and have a political implication,” he told an independent Armenian Yerkir Media TV.

Kocharyan also said the most likely development was his arrest, but he did not intend to run away.

“I’m going to go sit in prison and fight to the end.”
…

ЄС, Новини, Світ

Emails: Lawyer Who Met Trump Jr. Tied to Russian Officials

The Moscow lawyer said to have promised Donald Trump’s presidential campaign dirt on his Democratic opponent worked more closely with senior Russian government officials than she previously let on, according to documents reviewed by The Associated Press.

Scores of emails, transcripts and legal documents paint a portrait of Natalia Veselnitskaya as a well-connected attorney who served as a ghostwriter for top Russian government lawyers and received assistance from senior Interior Ministry personnel in a case involving a key client.

The data were obtained through Russian opposition figure Mikhail Khodorkovsky’s London-based investigative unit, the Dossier Center, that is compiling profiles of Russians it accuses of benefiting from corruption. The data were later shared with journalists at the AP, the Swiss newspaper Tages-Anzeiger, Greek news website Inside Story and others.

The AP was unable to reach Veselnitskaya for comment. Messages from a reporter sent to her phone were marked as “read” but were not returned. A list of questions sent via email went unanswered.

Veselnitskaya has been under scrutiny since it emerged last year that Trump’s eldest son, Donald Jr., met with her in June 2016 after being told by an intermediary that she represented the Russian government and was offering Moscow’s help defeating rival presidential candidate Hillary Clinton.

‘Independent’ operator

Veselnitskaya has denied acting on behalf of Russian officialdom when she met with the Trump team, telling Congress that she operates “independently of any government bodies.”

But recent reporting has cast doubt on her story. In an April interview with NBC News, Veselnitskaya acknowledged acting as an “informant” for the Russian government after being confronted with an earlier batch of emails obtained through the Dossier Center.

The new documents reviewed by AP suggest her ties to Russian authorities are close — and they pull the curtain back on her campaign to overturn the sanctions imposed by the U.S. on Russian officials.

The source of the material is murky. Veselnitskaya has previously said that her emails were hacked. Khodorkovsky told AP he couldn’t know where the messages came from, saying his group maintained a series of anonymous digital drop boxes.

The AP worked to authenticate the 200-odd documents, in some cases by verifying the digital signatures carried in email headers. 

In three other cases, individuals named in various email chains confirmed that the messages were genuine. Other correspondence was partially verified by confirming the nonpublic phone numbers or email addresses they held, including some belonging to senior Russian officials and U.S. lobbyists.
…

Бізнес, Новини, Фінанси

Facebook Shares Sink; Further Growth Drops Expected

Social media giant Facebook, which has weathered storms about privacy and data protection, is now looking at cooler growth following a years-long breakneck pace.

Shares in Facebook plummeted 19 percent to close at $176.26 Thursday, wiping out $100 billion. It was believed to be the worst ever single-day evaporation of market value for any company.

The plunge came one day after the firm missed revenue forecasts for the second quarter and warned that growth would be far weaker than previously estimated.

Chief Financial Officer David Wehner warned Wednesday in an earnings call with analysts that revenue growth had already “decelerated” in the second quarter and would drop “by high single-digit percentages” in coming quarters.

At one point during the call, Facebook shares were trading down as much as 24 percent, an unprecedented drop for a large firm.

On the call, Jefferies & Co. analyst Brent Thill said that “many investors are having a hard time reconciling that deceleration. … It just seems like the magnitude is beyond anything we’ve seen.”

Facebook said the slowdown would come in part from a new approach to privacy and security, but also appeared to acknowledge the limits of growth in advertising, which accounts for virtually all its revenue.

Brian Sheehan, a Syracuse University professor of communication and advertising, said the weak forecast “made investors nervous about more basic long-term issues” with the huge social network, notably its diminished appeal to younger users.

“With or without privacy issues, investors are scared that Facebook’s interactions, particularly with those under 25, are falling,” Sheehan said.

For the second quarter, profit was up 31 percent at $5.1 billion; revenues rose 42 percent to $13.2 billion, only slightly below most forecasts.

User base still growing

Facebook reported its user base was still growing but not as fast as some expected. Monthly active users rose 11 percent to 2.23 billion — below most estimates of 2.25 billion.

Richard Windsor, a technology analyst who writes the Radio Free Mobile blog, said the new outlook should not be surprising.

“This is a direct result of scale as it becomes increasingly difficult to grow at such high rates when a company hits this size,” Windsor wrote.

Windsor added that Facebook is forced to hire more people to handle tasks such as filtering inappropriate content after discovering the limits of artificial intelligence.

“Weaknesses in AI are forcing [Facebook] to keep hiring humans to do the jobs that the machines are incapable of,” he said.

Brian Wieser at Pivotal Research Group said the company appears to have hit a “wall” on growth in advertising.

In a research note, he said Facebook’s outlook “suggests that while the company is still growing at a fast clip, the days of 30 percent-plus growth are numbered.”

Until Wednesday, Facebook shares had been at record highs as investors seemed to shrug off fears about data protection and probes into the hijacking of private information by the political consultancy Cambridge Analytica.

Chief Executive Mark Zuckerberg said Facebook has invested heavily in “safety, security and privacy” after being rocked by concerns of manipulation of the platform to spread misinformation, warning of an “impact” on profitability.

Some analysts however said it was too soon to write off Facebook or its growth prospects, and that the company may have simply been warning of the worst-case scenario.

“The company has a track record of resetting revenue growth and expense expectations only to turn around and exceed those expectations the following quarter,” said Gene Munster of Loup Ventures. “We suspect Facebook is sticking with its historical playbook and will, in fact, beat these lower numbers.”

A positive view

Richard Greenfield of BTIG Research said he remained upbeat on Facebook despite the abrupt forecast shift.

“Facebook is actively choosing to make less money, deprioritizing near-term monetization to drive engagement to even higher levels,” Greenfield said in a note to clients.

Greenfield said he could “sense the fear/panic in investors’ voices” after the Facebook analyst call, but that he had maintained his outlook.

“Mobile is eating the world and Facebook is a core holding to benefit from that shift,” he said.

RBC Capital Markets analyst Mark Mahaney said the drop creates a rare buying opportunity for Facebook shares.

“Facebook stills owns two of the largest media assets in the world [Facebook and Instagram] and the two largest messaging assets in the world [Messenger and WhatsApp],” Mahaney said in a note to clients, adding that he sees “no material change in marketer views of the attractiveness” of Facebook platforms. 
…

Бізнес, Новини, Фінанси

Trump Says He Has Opened Europe Markets for US Farmers 

U.S. President Donald Trump, a day after reaching a truce in the escalating trade dispute with Europe, characterized his talks with European Commission President Jean-Claude Juncker as a big economic victory and a historic agreement. But he provided few details.  

“We just opened up Europe for you farmers,” Trump said at a roundtable event in Iowa. “You have just gotten yourself one big market.”

Iowa is among the Midwestern farming states hit by retaliatory tariffs on soybeans and other products, imposed by China in response to tariffs imposed on Chinese goods by the U.S. president. 

Later in the afternoon, Trump addressed steelmakers in Granite City, Illinois, saying, “We’re not going to give China or any other country a veto on United States national security.” 

Europe has “agreed to purchase, almost immediately, large amounts of American soybeans because China tried to hurt the American farmer,” Trump said.

The president said his administration had taken the “toughest-ever actions in response to China’s very abusive trade practices,” accusing Beijing of massive theft of American intellectual property.

Trump also said that as a result of his tariffs imposed on trading partners, “idle factories throughout our nation are roaring back to life.”

Amid the vague commitments for European purchases of soybeans, and constructing terminals to store additional liquified natural gas from the United States, Trump and Juncker on Wednesday committed to holding off on additional tariffs while trans-Atlantic negotiations are held.

U.S. Treasury Secretary Steven Mnuchin describes it as “an agreement in principle,” while Trump told the Iowa audience he and Juncker “agreed to a letter of intent.”

French President Emmanuel Macron on Thursday threw cold water on any sweeping agreement, arguing “the context doesn’t allow it.”

Macron explained he is against agricultural discussions in the trade talks, also adding that the Trump administration must make clear gestures over the “illegal” steel and aluminum tariffs still in place.

Commerce Secretary Wilbur Ross, speaking to reporters during the Air Force One flight to Iowa, credited Trump’s tariffs on the metals for the previous day’s breakthrough at the White House.

“To get there, we had to take a route of trying to make it more painful for the other parties to continue bad practices than to drop them,” Ross said. “This is a real vindication of the president’s trade policy.”

While no auto tariffs will be imposed on the EU while talks continue, Ross said, “We’ve been directed by the president to continue the investigation, get our material together but not actually implement anything, pending the outcome of the negotiation.”

He said they would submit their report on auto tariffs sometime in August. Imposing them “may not be necessary,” he added.

In the meantime, “steel and aluminum tariffs stay in place,” Ross said.

The comments by Trump and Ross indicate the administration could be willing to negotiate a pact akin to the Transatlantic Trade and Investment Partnership (TTIP), on which negotiations have stopped.

A day before the Oval Office meeting between Trump and Juncker, the U.S. Agriculture Department announced it was making $12 billion available to American farmers harmed by tariffs.

Pressed whether the money was a bailout, Mnuchin on Thursday responded, “We’re not bailing out any farmers, that’s a ridiculous comment. It’s not a bailout.” He added that when “other countries unfairly and illegally target our farmers, we will stand up and fight for them.”

Appearing before the Senate Appropriations Subcommittee for Commerce on Thursday, U.S. Trade Representative Robert Lighthizer told lawmakers, “It is certainly not our plan to have small business or agriculture or anyone else in America feel the brunt of a change in trade policy which is designed to make the U.S. stronger and richer, help our exports, and help all American businesses and farmers and ranchers.”

The tariffs imposed by the Trump administration came under criticism during the hearing, including from members of Trump’s party.

Tennessee Republican Lamar Alexander said the “tariff taxes that the administration had placed began to look like, ‘I’ve got a problem, so I’ll shoot myself in one foot; I’ve got [another] problem, so I’ll shoot myself in the other foot.'”

Another Republican senator, Jerry Moran of Kansas, said, “Trade and exports are how we earn a living in Kansas, and farmers, ranchers, and our nation’s manufacturers cannot afford a prolonged trade war.”

Following a closed-door meeting of congressional Republicans, Representative Roger Williams, who owns a car dealership in Texas, said dealers are canceling orders with auto manufacturers because they are fearful of tariffs, as well as rising interest rates.

Twenty-two Republican members of the House Ways and Means Subcommittee on Trade have sent a letter to Trump urging him to meet directly with Chinese President Xi Jinping to forge a trade agreement.

“Our shared objective is long-term and enduring reform in Chinese subsidies, tariffs, and other trade barriers,” the lawmakers say in their letter. “While tariffs cause short-term economic pain to China, they also boomerang on American companies, farmers, workers, and consumers — and we hear every day from Americans who are caught in a destructive cycle of escalation. A lasting solution can be established only through fundamental change to the Chinese system. Timely and astute negotiations under your leadership are essential to accomplishing this goal.”

Mike Bowman contributed to this report.
…

ЄС, Новини, Світ

Cameroon’s Escalating Conflict Triggers Alarm at UN

The U.N. High Commissioner for Human Rights, Zeid Ra’ad Al Hussein, is seeking access to Cameroon to verify what he says are alarming reports of horrific abuse by separatist and government forces in the country’s English-speaking Northwest and Southwest regions.

The U.N. human rights office said the situation in Cameroon’s English-speaking communities has worsened considerably since protests against what the English-speakers see as structural discrimination started two years ago.

The Anglophones are demanding an end to what they allege is their economic and political marginalization by the country’s Francophone majority.

The High Commissioner’s spokeswoman, Ravina Shamdasani, told VOA what began as protests for greater access to jobs and linguistic equality has gotten out of hand. She said violence by both armed separatists and the government has spiraled out of control.

“The violent separatists, these armed groups are killing people, torching schools, carrying out kidnappings and extortion and all sorts of horrible human rights abuses to try to disrupt the situation,” she said. “The government’s role should be to protect people in such a horrible environment. Instead, the government is employing a heavy-handed response, which is not helping the situation. It is further causing human rights violations.”

United Nations figures show more than 21,000 refugees have fled to neighboring countries, while some 160,000 people are internally displaced by the violence, with many reportedly hiding in forests.

An army spokesman has rejected charges of abuses by the security forces as “rumors.”

Shamdasani said there is a lot of misinformation and propaganda on both sides. She added that the High Commissioner has asked that monitors be allowed to verify allegations of abuse against both security forces and armed separatists.

The government has rejected this request, she said. Consequently, she added that the U.N. human rights office will have to consider other options to keep tabs on the situation, including remote monitoring.
…

ЄС, Новини, Світ

US Threatens Sanctions on Turkey If Jailed American Pastor Not Freed

The United States is threatening sanctions on Turkey unless a detained American pastor is released.

“If Turkey does not take immediate action to free this innocent man of faith and send him home to America, the United States will impose significant sanctions on Turkey until Pastor Andrew Brunson is free,” said U.S. Vice President Mike Pence on Thursday at a religious freedom summit at the State Department.

Andrew Brunson, an evangelical pastor from Black Mountain, North Carolina, has been jailed in Turkey on terrorism and espionage charges.His case has strained relations between Turkey and the U.S., both NATO allies.

“Release pastor Andrew Brunson now, or be prepared to face the consequences,” Pence warned.

Later Thursday, U.S. President Donald Trump also weighed in on Twitter tweeting, “The United States will impose large sanctions on Turkey for their long time detainment of Pastor Andrew Brunson, a great Christian, family man and wonderful human being. He is suffering greatly. This innocent man of faith should be released immediately!”

Turkey’s Foreign Minister Mevlut Cavusoglu reacted to the warning Thursday, tweeting “No one dictates Turkey. We will never tolerate threats from anybody. Rule of law is for everyone; no exception.”

The exchange comes a day after Brunson was released from a Turkish prison and placed under house arrest while his trial continues.  

 

“This is a welcome first step. But it is not good enough,” added Pence who spoke with Brunson on Wednesday.  

 

On Wednesday, Secretary of State Mike Pompeo told American lawmakers that the release of Brunson from prison is an “indicator of diplomatic progress” but the “work is not done.”

Pompeo said Washington remains “in conversations with Turkey to bring home” the American pastor.

Brunson was indicted on charges of helping a network led by U.S.-based Muslim preacher Fethullah Gulen, which Turkey blames for a failed 2016 coup against President Recep Tayyip Erdogan.

During the third and final day of the first-ever State Department ministerial to advance religious freedom, Pence and Pompeo also highlighted the plight of religious minorities across the globe.

The U.S. pledged an additional $ 17 million for de-mining efforts in the Ninewa region of Iraq, which is on top of the $90 million Washington provided in 2017.U.S. officials say the funding will help clear mines from areas with large populations of religious minorities who were subject to what Pence called genocide at the hands of Islamic State militants.

The summit has also focused on religious freedom issues in China, Myanmar and Iran.

The global situation “must change,” said Sam Brownback, U.S. ambassador at large for international religious freedom.

“In Burma, the situation in northern Rakhine state constitutes ethnic cleansing of the Rohingya, a religious minority. In Iraq, religious minority groups of Yazidis and Christians victimized by ISIS [Islamic State terror group] are still in dire need of security and assistance. In Turkey, Pastor Andrew Brunson remains wrongfully imprisoned on false charges,” said Brownback on Tuesday during opening remarks of the ministerial.

“In China, a large number of Uighur Muslims are being sent to re-education camps, Tibetan Buddhists face significant restrictions in organizing their own faith and Christian house church leaders are imprisoned.”
…

ЄС, Новини, Світ

IOC Hits Back Against Criticism by US Anti-Doping Chief

The International Olympic Committee hit back Thursday at the US Anti-Doping Agency (USADA) after its chief accused the IOC of failing to hold Russia accountable for doping in sports.

In a rebuke directed at USADA CEO Travis Tygart, the IOC chastised the US over its struggles in tackling doping in its domestic leagues and for refusing to join the international fight against corruption in sport.

Tygart had in testimony to a US agency that looks at human rights in Europe said that in allowing Russian athletes to take part in the Rio and Pyeongchang Olympic games, the IOC “chose not to stand up for clean athletes and against institutionalized doping.”

“We very much appreciate and welcome moves in the United States to step up the fight against doping and we assume that the very worrying existing challenges with some of the professional leagues in the United States will be addressed as a matter of urgency — especially since this has become extremely obvious again in the last report of USADA,” an IOC spokesman said in a statement sent to AFP.

According to Tygart, the IOC had assembled clear evidence of state-sponsored doping in Russia but missed an opportunity to combat “culture of corruption through doping in global sport”.

“When the decisive moment arrived … the IOC failed to lead.”

Replying to the USADA critique, the IOC said it “would kindly invite the United States government to join ‘The International Partnership against Corruption in Sport,'” a global network formed to clean up sports governance, which includes most major sporting powers, except the US.
…

Uncategorized

US Toymaker Mattel to Lay Off 2,200 Worldwide

Mattel, home of Barbie dolls and Hot Wheels, is cutting 2,200 jobs in order to save money after the closing of U.S. toy retail giant Toys R Us.

The toymaker said the cuts amount to 22 percent of its nonmanufacturing employees worldwide. Mattel has about 28,000 employees.

It also plans to sell factories in Mexico as part of a $650 million cost-saving plan.

Mattel’s stock fell nearly 9 percent to $14.85 in after-hours trading Wednesday, after dropping 1 percent during the regular trading day.

Mattel reported a loss of $240.9 million in the second quarter, bigger than the $56.1 million loss in the same period a year ago.

Revenues fell nearly 14 percent to $840.7 million, below the $863.1 million analysts had predicted.

Ynon Kreiz, who was named CEO in April, said Wednesday that he expects the negative impact of Toys R Us closing to subside by next year.

The toymaker has lagged behind its competitors in digital media, analysts say, and is trying to catch up with other brands that have spawned apps, movies and TV shows.

Kreiz said the company is working closely with other retailers and looking for more ways to sell its toys online.
…

ЄС, Новини, Світ

Belgium Approved Euthanasia of 3 Minors, Report Finds

Belgian doctors have euthanized three minors in the past two years, according to a report from the nation’s chief euthanasia regulatory body released earlier this month.

The report, produced by Belgium’s Federal Commission for Euthanasia Control and Evaluation, said these three minors were the first to be euthanized since the country’s parliament voted to lift age restrictions on euthanasia in the country, the first such law in the world. Euthanasia for adults has been legal in Belgium since 2002.

“There is no age for suffering,” said Professor Wim Distelmans, chairman of the euthanasia committee. “Fortunately, euthanasia among young people remains very exceptional. Even if it were only one, the law would have been very useful. ”

The minors were 9, 11 and 17 years old, according to the report. Their conditions ranged from muscular dystrophy to brain tumors to cystic fibrosis. The conditions of all three were determined to be terminal, and euthanasia was approved unanimously by the committee.

The report, part of a series released by the committee every two years, examined all euthanasia cases within Belgium from January 2016 to December 2017. The report said 4,337 euthanizations were administered in Belgium during that time. The majority of euthanizations — 2,781 — were for cancer patients. The second leading cause was “poly-pathologies,” ranging from dementia and heart disease to incontinence and hearing loss, with 710 euthanizations listing “poly-pathology” as its primary reason.

Euthanasia cases rising

Since euthanasia was first legalized in Belgium in 2002, the number of deaths from it have steadily increased every year. In 2016, the report found, the number of people who died via euthanasia was 2,028. In 2017, that number jumped to 2,309, nearly a 14 percent increase.

The Netherlands and Belgium are the only two countries in the world that permit the euthanasia of minors. The Netherlands, however, restricts euthanasia to minors above the age of 12.

The 2014 law stipulated that before euthanasia can be considered for a minor, he or she must be suffering from terminal illness, face “unbearable physical suffering” and repeatedly request to die.

“The law says adolescents cannot make important decisions on economic or emotional issues, but suddenly they’ve become able to decide that someone should make them die,” said Andre-Joseph Leonard, head of the Catholic Church in Belgium, following the passage of the 2014 law.

In 2017, a doctor resigned from Belgium’s euthanasia commission, alleging that the committee had euthanized a demented patient who had not formally requested to die. 
…

ЄС, Новини, Світ

Ankara’s Rising Balkan Influence Rattles Allies

Turkey is expanding its economic and cultural influence over the Balkans, and analysts say the strategy, which targets the region’s large Muslim minorities, is worrying some of its Western allies.

The Balkan region was the center of the Turkish Ottoman Empire. That historical legacy has made the area a priority for Turkey’s ruling AKP under recently re-elected President Recep Tayyip Erdogan. Turkey’s growing influence was visible at this month’s inauguration ceremony of Erdogan. While Western European leaders stayed away, five heads of state from the Balkans attended.

“Since AKP has this mental construction of re-establishing the Ottoman past, it’s [the Balkan region is] important for them,” said professor Istar Gozaydin, who has studied the Balkans extensively.

“The Balkans as a region, as it has for so many centuries, was under the Ottoman rule and influence. I do see the renaissance of Islamic identity of Turkish influence in the region,” said international relations professor Huseyin Bagci, an expert on the Balkans at Ankara’s Middle East Technical University.

“Turkey is using smart power there culturally, economically and language-wise,” he continued. “When you look to those Turks living in the Balkans, they get more and more under the increasing Turkish influence.”

Some European leaders are already voicing concern. “I don’t want a Balkans that turns toward Turkey or Russia,” French President Emmanuel Macron declared in May. Erdogan quickly shot back, saying the comment was “unbecoming of a statesman.”

The Turkish economy dwarfs those of its Balkan neighbors, and economic muscle is at the forefront of Ankara’s projection of influence. “Turkey is building airports, even investing in several sectors, like in Bulgaria and Romania, from textiles to many others,” Bagci said.

“There is an aggressive economic policy toward the Balkan countries, which cannot compete with Turkey,” Bagci said. “In the Balkans, we have two big countries getting influence. One is Germany and the other one Turkey.”

Trade has helped Ankara overcome past animosities. “These countries, many of them, don’t have automatic access to the EU [European Union], and many of them look to Turkey for trade,” said columnist Semih Idiz of the Al Monitor website.

‘Quite close’

“During the recent Balkan war, Turkey and Serbia were at opposite ends of the fence. They looked at one another with great enmity. Today, we see Serbia and Turkey are quite close, despite differences over Kosovo and Bosnia and things like that. A country like Serbia values its friendship with Turkey, and I think it applies to a certain extent to countries like Croatia, too,” Idiz said. He was referring to the events that led to the breakup of Yugoslavia.

Serbia is now Turkey’s main Balkan trading partner, with $1 billion in commerce.

Reaching out to the Balkans’ large ethnic Turkish population, through the promotion of religion and cultural awareness, is also an essential tool deployed by Ankara.

“They are using religion. They are using diplomacy. Institutions like Tika and Diyanet have been working quite efficiently and hard in the region,” Gozaydin said.

Tika is the Turkish state’s development agency, while the Diyanet administers Turkey’s Islamic affairs nationally and internationally. The two institutions are at the forefront of expanding Turkish influence in the Balkans.

“They work with the authorities in those countries. They try to influence the politics there,” Gozaydin said. “In Bosnia, they are trying, for example, to be influential in the appointment of religious authorities so they can work together.”

Turkey has been funding mosque projects across the Balkans, including two of the region’s largest mosques in Albania and Bulgaria. Turkish cultural foundations also work to promote ethnic Turkish identity.

While Ankara has been successful in projecting its influence, there are signs of growing unease, Gozaydin warned. She said she had met quite a few people in the Balkans, including some authorities, “who were not happy with Turkey trying too hard to have an influence on them. So that was considered to be an interference in their domestic politics.”

‘Grave concern’

Last year, the United States voiced alarm about Ankara’s policy. “The Balkans is an area of grave concern now,” said then-national security adviser H.R. McMaster.

Ankara dismissed such criticism, contending that it was only re-establishing cultural ties that date back centuries and claiming that Russia and other European countries were jockeying for influence in the Balkans. In May, European officials held talks with western Balkan leaders in Bulgaria to reaffirm the “European perspective” of that region.

Given the Balkans’ recent history of ethnic and religious conflict, however, analysts warn of the risk of a nationalist backlash if Ankara does not tread carefully.

“The Turkish minorities, or Muslim minorities, yes, they are always considered as a potential threat by the majority of the Balkan countries,” Bagci said. “The more the Muslim identity gets stronger, the more populist movements in the Balkans, like in Germany and other countries, will increase and get stronger. This is the potential conflict.”
…

ЄС, Новини, Світ

Hundreds Attend Funeral for Mothers of Srebrenica Leader

Hundreds of people on Wednesday attended an emotional funeral service for Hatidza Mehmedovic, who headed a group of women fighting for justice for the victims of the 1995 Srebrenica massacre.

The somber crowd stood in silence and many cried during a commemoration ceremony and a Muslim religious service held in the eastern Bosnian town that was the site of Europe’s worst carnage since World War II.

Mehmedovic, who headed the Mothers of Srebrenica group comprising women who lost their loved ones in the massacre, was buried later in a village near the town.

The Mothers of Srebrenica have won praise for their struggle to have those responsible for the killings brought to justice.

“Today we are all sad, everyone who knew Hatidza, everyone who knows what the word ‘mother’ means,” said Munira Subasic, another women heading the quest for justice. “She wanted to send the message of peace, message of respect to others. She was seeking only one thing and that was the truth and justice.”

Mehmedovic’s husband, two sons and brother were among some 8,000 Muslim men and boys killed when Bosnian Serbs overran Srebrenica in July 1995.

More than two decades later, experts are still excavating victims’ bodies from hidden mass graves throughout Bosnia.

The U.N. war crimes tribunal for the former Yugoslavia has sentenced Bosnian Serb wartime leader Radovan Karadzic and his military commander, Ratko Mladic, over the Srebrenica massacre and other atrocities of the 1992-95 war.

Although an international court has labeled the Srebrenica killings as genocide, Serbs have never admitted their troops committed the ultimate crime and nationalist politicians have viewed Mladic and Karadzic as heroes.

A Serbian far-right lawmaker, Vjerica Radeta, has sparked outrage this week with a tweet mocking Mehmedovic’s tragedy after her death. The tweet was widely shared on social networks and reported by the media before it was deleted, and Radeta’s Twitter account shut down.

Serbia’s parliament speaker Maja Gojkovic has said Radeta’s position does not reflect that of the assembly.
…

Бізнес, Новини, Фінанси

Mexico, Canada Stress Common Front in NAFTA Talks

Mexican and Canadian officials are stressing that talks on the North American Free Trade Agreement will remain a three-way negotiation, despite suggestions by U.S. President Donald Trump that he might pursue separate trade deals with both countries.

Mexican Foreign Minister Luis Videgaray says “Canada and Mexico not only share geography, history and friendship, but also principles and common goals, and we are a team and act as a team.”

Visiting Canadian Foreign Affairs Minister Chrystia Freeland also stressed that NAFTA is a three-country agreement. She said that Canada also opposes a “sunset” clause proposed by Trump that would allow countries to opt out of the pact every five years.

Freeland also met Wednesday with Mexican President-elect Andres Manuel Lopez Obrador, who will take office on December 1.
…

Бізнес, Новини, Фінанси

BRICS Leaders Cite Concerns About Protectionist Policies

Leaders from the five BRICS nations sounded the alarm over what South Africa’s president described as recent threats to multilateralism and sustainable global growth — a not-so-coded reference to a brewing trade war between the U.S. and BRICS’ wealthiest member, China.

Chinese President Xi Jinping raised his concerns as the three-day summit began in South Africa.

“A trade war should be rejected because there will be no winner,” he said. “Economic hegemony is even more objectionable, because it will undermine the collective interest of the international community. Those who pursue this cause will only hurt themselves.”

South African President Cyril Ramaphosa echoed his sentiments.

“We are meeting here, ladies and gentlemen, at a time when the multilateral trading system is facing unprecedented challenges,” Ramaphosa said. “We are concerned by the rise in unilateral measures that are incompatible with World Trade Organization rules and we are worried about the impact of these measures, especially as they impact developing countries and economies. These developments call for thorough discussion on the role of trade in growing and in promoting sustainable development, particularly inclusive growth.”

BRICS comprises Brazil, Russia, India, China and South Africa. The bloc admitted South Africa in 2010 as part of its aim of leveling the global playing field by representing nontraditional powers.

U.S. President Donald Trump has threatened to slap tariffs on all $505 billion worth of Chinese imports, a move that has caused global concern. Summit watchers say his blunt rhetoric will influence this year’s summit.

“I think that something that is pertinent that relates to the United States and President Trump’s administration is of course their protectionist measures that they have put on in terms of trade, and the trade wars that have every country in the globe speaking,” analyst Luanda Mpungose told VOA. “But something that the BRICS have actually come out and actually spoken about quite strongly, is that they want to support multilateralism and a rules-based world order.”

But, she says, BRICS may use that adversity to seek to build a new world order, even beyond the five-member bloc.

“Something that’s different about BRICS this year, specifically about South Africa as a host country, is that this initiative is not only about the BRICS member countries, the five countries, but actually, we’ve actually seen an outreach of neighborhood countries being invited,” she said. “So this is taking along the Africa developmental agenda and bringing it Into the BRICS agenda, I mean countries like Rwanda, like Senegal, like Togo have been invited to come and attend.”

The summit continues through Friday.
…

Бізнес, Новини, Фінанси

Sergio Marchionne, Who Saved Fiat and Chrysler, Has Died

Sergio Marchionne, a charismatic and demanding leader who engineered two long-shot corporate turnarounds to save both Fiat and Chrysler from near-certain failure, died Wednesday. He was 66.

The holding company of Fiat’s founders, the Agnelli family, announced in a statement Marchionne’s death after complications from surgery in Zurich.

 

“Unfortunately what we feared has come to pass,” Fiat heir John Elkann said. “Sergio Marchionne, man and friend, is gone.”

 

Marchionne built the dysfunctional companies into the world’s seventh-largest automaker almost by personal force of will, living on a corporate jet crossing the Atlantic to push employees to accomplish what most people thought was impossible amid a devastating global recession.

 

Marchionne, who was Italian and Canadian, had revived Fiat by 2009 when he was picked by the U.S. government to save U.S.-based Chrysler from its trip through bankruptcy protection after being owned by a private equity company.

 

“It’s highly unlikely that Chrysler would exist today had he not taken that gamble,” said Autotrader.com analyst Michelle Krebs. “The company was in such bad shape, being stripped of any kind of resources by the previous owners.”

 

Marchionne met most of his goals, even though at times he was doubted by nearly everyone in the automobile business. But he didn’t live long enough to complete his last two: personally hand over the reins of Fiat Chrysler Automobiles to a hand-picked protege and lay out plans for transforming supercar maker Ferrari.

 

Marchionne had shoulder surgery in summer 2018, and the company said last weekend that complications meant he would not be able to return.

 

The manager, known for his folksy, colorful turns of phrase and for his dark cashmere sweaters no matter the occasion, was the darling of the automotive analyst community. Even when expressing doubts at his audacious targets, they expressed admiration for his adept deal-making. That included getting GM to pay $2 billion to sever ties with Fiat, key to relaunching the long-struggling Italian carmaker, and the deal with the U.S. government to take Chrysler without a penny down in exchange for Fiat’s small-car technology.

 

Marchionne joined Fiat after being tapped by the Agnelli family to save the company. Fiat had for generations been a family-run enterprise, and having someone at the helm from outside Italy’s clubby management circles — even a dynamo like Marchionne — was an enormous change.

 

Other key corporate moves included the spinoff of the heavy industrial vehicle and truck maker CNH and of the Ferrari supercar maker. Both deals unlocked considerable shareholder value for Agnelli family heirs led by John Elkann. Elkann came into his own under Marchionne’s stewardship, taking over as chairman in 2010 having been tapped more than a decade earlier by his grandfather, the late Gianni Agnelli, to run the family business.

 

As Marchionne’s health failed following surgery, a clearly emotional Elkann delivered what amounted to an impromptu eulogy and message of gratitude to a man he called his mentor.

 

“He taught us to think differently and to have the courage to change, often in unconventional ways, always acting with a sense of responsibility for the companies and their people,” Elkann said over the weekend. “He taught us that the only question that’s worth asking oneself at the end of every day is whether we have been able to change something for the better, whether we have been able to make a difference.”

 

It was Marchionne’s success in turning around a pair of Swiss businesses that drew the attention of the Agnelli family. He joined Fiat’s board in May 2003, four months after the death of Gianni Agnelli. He became CEO in June 2004, following the death of Gianni Agnelli’s brother, Umberto, Fiat’s chairman, leaving a family void in the company.

 

As an outsider, Marchionne was unfettered by local loyalties and he set about cutting jobs and expenses, slimming management ranks and increasing shareholder value along the way. He brought in other outsiders to key positions and relaunched the iconic 500, which became one of the new Fiat’s calling cards as it expanded abroad.

 

While he started small with limited industrial alliances, his ambitions soon grew. The bankruptcy of Chrysler gave him the opportunity to create a global car company with brands including Jeep, Ram, Alfa Romeo, Ferrari and Maserati that he envisioned would grow to 6 million cars a year. A global economic crisis that bottomed out car sales in key U.S. and European markets prevented him from reaching that goal, but his industrial vision never faltered as he spun off CNH and Ferrari into stand-alone entities.

 

His most quoted presentation to analysts, titled “Confessions of a Capital Junkie,” argued that consolidation was inevitable in the investment-heavy car industry. But though he tried for another merger with General Motors, talks never led to a deal. Still, newspaper photographs of a chain-smoking Marchionne awaiting talks with German Chancellor Angela Merkel outside the Chancellery in Berlin on the role of GM’s then-subsidiary, Opel, made clear just how personally he took the negotiations.

 

Marchionne had planned to step down as CEO of FCA after the close of 2018, with the presentation of the year-end results in April. He always insisted that his successor would come from inside — so it was no surprise when British manager Mike Manley, who helped boost Jeep to global success and get Fiat a foothold in Asia, was named as his successor as Marchionne’s health failed.

 

He had never indicated plans for Ferrari or CNH, leaving many to speculate that the tireless manager known for his short sleep cycles and globe-trotting style would use those positions to keep a foothold in the automotive world.

 

In June, he laid out FCA’s five-year plan — raising the eyebrows of analysts who pointed out he would not be the one to execute the plans. He responded by expressing confidence in his hand-picked team that helped draft the targets.

 

The plans included launching electrified powertrains across Fiat brands — a tacit acknowledgement that the company had lagged in introducing hybrid, hybrid-electric and full-electric engines. They also were to put Ferrari engines in Maserati cars as Marchionne sought to take on electric-car pioneer Tesla — but unlike at Tesla, which has so far failed to turn a profit, earnings were fundamental at FCA.

 

Marchionne’s penchant for numbers was always clear in his attentive quarterly presentations. He let his real satisfaction show during the June 2018 presentation when he announced the company had reached zero debt, by donning a necktie for the first time in a decade — albeit briefly.

 

His next major move was to be the presentation of a new business plan in September for Ferrari, which he aimed to turn into a luxury company beyond just cars to further boost earnings.

 

At his last public appearance in his role as CEO, Marchionne in June attended a ceremony in Rome where a Jeep was presented to the paramilitary Carabinieri police. Marchionne began his brief remarks noting that he grew up in a household where his father was a Carabinieri officer.

 

He said he recognized in the Carabinieri “the same values at the basis of my own education: seriousness, honesty, sense of duty, discipline and spirit of service.”

 

Marchionne was divorced. He is survived by his companion, Manuela Battezzato, and two adult sons.

 

 

 
…

ЄС, Новини, Світ

Trump, EU’s Juncker Set To Meet Amid Tariff Dispute

Tariffs are set to top the agenda in a meeting Wednesday between U.S. President Donald Trump and European Commission President Jean-Claude Juncker.

Juncker is coming to Washington with the hopes the European Union can avoid an all-out trade war by convincing Trump to hold off punitive tariffs on European cars. The potential car tariffs would hurt Germany’s thriving automobile industry and come on top of hefty tariffs that Trump has already imposed on aluminum and steel imports.

But on the eve of the meeting, Trump appeared pessimistic the two sides would come to any agreement after the U.S. leader threatened more tariffs on U.S. trading partners. In a tweet late Tuesday, Trump said both the United States and the European Union should drop all tariffs, barriers and subsidies.

“That would finally be called Free Market and Fair Trade!” Trump said. “Hope they do it, we are ready — but they won’t!” he added.

Earlier Tuesday, the U.S. president declared “Tariffs are the greatest!” and threatened to impose additional penalties on U.S. trading partners. “Either a country which has treated the United States unfairly on trade negotiates a fair deal, or it gets hit with tariffs. It’s as simple as that.”

Trump again complained the world uses the United States as a “piggy bank” that everyone likes to rob. 

The European Commission has responded with retaliatory tariffs, but new levies on cars could prompt Europe to take further action.

German Foreign Minister Heiko Maas said Tuesday Europe won’t cave in to Trump’s threats.

“No one has an interest in having punitive tariffs, because everyone loses in the end,” Maas wrote on Twitter. “Europe will not be threatened by President Trump If we cede once, we will often have to deal with such behavior in the future.”

Republican Speaker of the House Paul Ryan told reporters Tuesday he does not think “the tariff route is the smart way to go.”

Ryan said he understands Trump is seeking “a better deal for Americans” but added the U.S. should instead “work together to reduce trade barriers and trade restrictions between our countries.”
…

ЄС, Новини, Світ

US Envoy on Helsinki: No ‘Gifts to Russia at Ukraine’s Expense’

The top U.S. official for Ukraine negotiations doubled down on recent assurances from the State Department and White House that President Donald Trump did not reach any agreements on Ukraine during last week’s two-hour private meeting with his Russian counterpart in Helsinki, Finland.

Russian President Vladimir Putin last week told a gathering of diplomats in Moscow that he and Trump discussed the possibility of an internationally supervised referendum in pro-Russian separatist regions of eastern Ukraine, a claim later reiterated by the Kremlin’s ambassador to the U.S.

In an exclusive interview with VOA’s Ukrainian service, Kurt Volker, U.S. special representative for Ukraine negotiations, said that Kremlin remarks about the referendum were not only misleading but also blatantly implausible.

“There was no move toward recognition of Russia’s claimed annexation of Crimea. No support for a referendum. No movement toward Russia’s position on a protection force for [Organization for Security and Cooperation in Europe] monitors that would effectively divide the country,” said Volker, referring to Russia’s controversial September 2017 U.N. proposal.

Because referendums aren’t part of the 2015 Minsk agreement, which aims to end the conflict, secure a cease-fire and pave the way for regional elections, Volker said any direct vote on secession from Kyiv would lack the necessary legal framework.

“So, a lot of things that people were worried about or had predicted might happen [in Helsinki] did not happen. So, I don’t think there’s really any basis to be worried here,” he said, noting that the administration has continued to maintain sanctions on Russia in concert with European allies and approved weapons sales to Kyiv.

The Pentagon, he added, recently unveiled plans for a new military financing package for the occupied Eastern European country.

“Let me just say this — that on all of the issues that Ukrainians would care about, nothing was given away,” he said. “No handing over of gifts to Russia at Ukraine’s expense.”

Volker’s comments supplemented initial reactions by Garrett Marquis, U.S. National Security Council spokesman, who said the White House was “not considering” supporting a referendum in eastern Ukraine, and a statement by U.S. State Department spokeswoman Heather Nauert, who said an eastern Ukraine referendum “would have no legitimacy.”

The comments by the trio of U.S. officials followed days of speculation about what was discussed at the rare one-on-one meeting between the U.S. and Russian leaders with only their translators present.

Trump has been on the defensive over the summit since returning from Helsinki, especially during a key moment when he was asked about Russian meddling in the 2016 U.S. presidential election as Putin stood beside him.

This story originated in VOA’s Ukrainian service.
…

ЄС, Новини, Світ

No Welcome Mat for Putin From US Congress

Russian President Vladimir Putin, accused of interfering in U.S. elections, will not be invited to address Congress or visit the Capitol if he accepts President Donald Trump’s invitation to come to Washington, Republican congressional leaders said on Tuesday.

The comments by House of Representatives Speaker Paul Ryan and Senate Majority Leader Mitch McConnell reflect the unease among U.S. lawmakers, including Trump’s fellow Republicans, about the president’s outreach to Putin after their July 16 summit in Helsinki.

Ryan and McConnell rejected the idea of Putin being asked to address a joint session of Congress, typically considered an honor for visiting foreign leaders.

“We would certainly not be giving him an invitation to do a joint session,” Ryan added. “That’s something we reserve for allies.”

“The speaker and I have made it clear that Putin will not be welcome up here at the Capitol,” McConnell said later.

The U.S. intelligence community has concluded that Russia used a campaign of propaganda and hacking to interfere in the 2016 U.S. presidential election to aid Trump’s candidacy, and has warned that Moscow is working to meddle in the November congressional elections.

“The Russians better quit messing around in our elections,” McConnell told reporters, adding that he was open to legislation to put pressure on Moscow. “They did it the last time. They better not do it again.”

Ryan said he did not have a problem with Trump sitting down with foreign leaders like Putin, as long as he was delivering the right message.

“If the message is, ‘Stop meddling in our country, stop violating our sovereignty,’ then I support that. But it’s the message that counts,” Ryan told reporters.

Trump faced bipartisan criticism after a news conference with Putin in Helsinki where he gave credence to Putin’s denials of Russian interference in the 2016 election despite the findings of the U.S. intelligence community. Putin acknowledged at the news conference he wanted Trump to win the election against Democratic candidate Hillary Clinton but has denied election meddling.

Trump has called the summit a success and invited Putin to

visit Washington in the autumn.

Some Republicans expressed fresh skepticism about a Putin visit. Representative Mac Thornberry, chairman of the House Armed Services Committee, said, “I’m suspicious of everything Putin does.”

Trump faced withering criticism after the Putin summit, including from former CIA Director John Brennan, who described the president’s performance as “nothing short of treasonous.”

The White House said on Monday Trump was looking at revoking the security clearances of Brennan and five other former officials who have been critical of the president.

Ryan downplayed Trump’s threat.

“I think he’s trolling people, honestly,” Ryan said.
…

Бізнес, Новини, Фінанси

Harley-Davidson: No US Sales Hit From Offshoring Dustup

Harley-Davidson executives said Tuesday they had seen no U.S. sales hit so far over its decision to relocate some American manufacturing overseas as it navigates amid trade conflicts.

“We’ve actually done quite a lot of consumer research… and we see no discernible shift in the sales patterns” or to brand favorability, chief executive Matt Levatich said on an analyst conference call.

The motorcycle company found itself in the firing line of President Donald Trump, who repeatedly attacked the company on Twitter after Harley announced the move on June 26 in response to European Union tariffs on US-made bikes.

Trump’s attacks on Harley for being the first to “wave the White Flag” had raised fears among investors that the company’s sales could be impacted given the president’s popularity in areas of the United States where Harleys sell well.

But Harley executives said direct consumer research, as well as sales, showed no evidence of a hit due to the uproar.

“We’ll continue to be sure we monitor it… and correct errors in interpretation that seem to pop up from time to time,” he said. “We’re on it.”

Trump’s name did not come up during a 60-minute earnings conference call, although Levatich did say at one point that the company was working with US administration officials and other governments to “get these tariffs removed.”

Shares of Harley-Davidson jumped after it reported a second-quarter dip of six percent in profits to $242.3 million. But the results topped analyst expectations in terms of earnings-per-share and revenues.

Harley-Davidson suffered another fall in US motorcycle sales, this time by 6.4 percent from the year-ago period to 46,490.

Executives characterized the drop as part of a longterm challenge as it steps up marketing campaigns to lure in young consumers that have so far shown lackluster interest in motorcycles.

Harley signaled it expects lasting business impacts from the EU tariffs, which targeted Harley and other brands from politically consequential regions of the United States and were taken in response to US tariffs on imported steel and aluminum.

Harley is based in Wisconsin, home to House Republican leader Paul Ryan.

The EU tariffs add $90 to $100 million in annual costs to EU sales. Executives said they hope to mitigate those effects in 2019 through corporate efficiencies and by shifting production from the US to an overseas plant.

Harley-Davidson has not reached a decision whether the EU-market bikes will be manufactured at existing overseas plants in Brazil or India or at a new plant being built in Thailand.

The company trimmed its 2019 profit margin to a range of 9 to 10 percent from the prior 9.5 to the 10.5 percent. Trade actions will subtract $45 to $55 million in 2018, with $30 to $35 million due to the EU tariffs and the rest coming from US tariffs on steel and aluminum.

“We never contemplated moving our European volume out of the United States,” Levatich said.

Shares jumped nine percent to $45.16 in late- morning trading.

 

 
…

Бізнес, Новини, Фінанси

Trade Imbalances Could Restrain Global Economic Growth, IMF Says

The International Monetary Fund warned Tuesday there are few indications international trade imbalances are narrowing, a trend that could raise trade tensions and lower economic growth.

In its annual External Sector Report, the IMF also said almost half of the world’s current-account balances are excessive and that current-account surpluses and deficits are increasingly concentrated in developed countries.

Excessive current-account balances mean they cannot be defended by a country’s fundamentals, such as unemployment and supply and demand, and its ideal economic policies.

The current account documents a country’s transactions with the rest of the world over a defined period of time.

The annual IMF report gauges the trade position and exchange rates of the world’s largest economies. Tuesday’s report was based on data and IMF staff projections as of June 22.

The report said China’s current account surplus grew slightly last year to 1.7-percent of its gross domestic product. The IMF also included China on the list of countries with excessive balances. Germany, South Korea, the Netherlands, Sweden and Singapore are also listed.

Countries with excessive current account deficits, those that borrow too much money, included the U.S., Britain, Argentina and Turkey, the report said.

The IMF said big trade surpluses in Germany and China, coupled with the large U.S. trade deficit, could worsen trade conflicts that are engulfing much of the world.

“Large and sustained excess external imbalances in the world’s key economies — amid policy actions detrimental to external balances — pose risk to global stability,” the report said.

U.S. President Donald Trump’s tax cuts and increased U.S. government spending are contributing to an increase in borrowing rates, a stronger U.S. dollar and a ballooning U.S. current-account deficit, according to the report.

In addition to potentially exacerbating trade tensions, the report said the trends could weaken emerging markets by causing interest rates to increase faster than expected.
…

Бізнес, Новини, Фінанси

Trump Company Expands Investment in Scottish Golf Resort

U.S. President Donald Trump’s family business has outlined its 150-million-pound ($196 million) investment plan for the second phase of development of its golf course north of Aberdeen in Scotland.

 

The Trump Organization’s proposals submitted to Aberdeenshire Council include 50 cottages, a sports center and equestrian facilities at the Menie estate near Balmedie. The first phase of development included a championship golf course, clubhouse and hotel.

 

The controversial development, which was first approved in 2008, has been accused of failing to deliver on promises of investment and jobs.

 

But the Trump company says the next phase will support nearly 2,000 jobs during construction, and some 300 permanent jobs.

 

Eric Trump, who leads the business with his brother Donald Jr, says “the timing is now right for us.”

 
…

ЄС, Новини, Світ

Russian Spies Hide in Plain Sight

In the pre-Internet era, spies faced more challenges than now when trying to infiltrate Western political circles in order to gather information, identify potential recruits, enlist the assistance of sympathizers and mount active operations, like meddling in a foreign country’s election.

Now they have the benefit of Facebook and LinkedIn and other social-media networking sites to expand their contacts, say former and current U.S. and British intelligence officials.

Western governments accuse Russian intelligence services of exploiting widely for propaganda purposes social media platforms, where they can plant “fake news,” deepen political discord in adversary states and mount influence campaigns in a bid to shape Western public opinion. But Russian spies — as opposed to trolls — are using networking sites also in highly sophisticated ways to work their way into Western political circles.

Maria Butina, the latest flame-haired Russian female alleged spy who U.S. prosecutors believe they have unmasked, is an object lesson in how social media can assist covert influence operations — and not solely as propaganda platforms aimed at swaying or warping public opinion, says a U.S. counter-intelligence official who asked not to be identified for this article.

In the pre-Internet era Russian influence-peddlers had to make do with trawling for “targets” at think tank and embassy events, political conferences and trade fairs. But now they can combine the physical and virtual. “Butina was using old tradecraft, turning up at political events, making contacts and then befriending them on Facebook or LinkedIn and vice versa. Social media platforms are useful in mapping out friendship networks and opening doors,” he adds.

Butina, aged 29, was charged last week with acting as an agent for the Kremlin in the United States. The Justice Department alleges she was in regular contact with Russian intelligence services. She has been indicted for conspiracy to operate on behalf of the Russian government and failing to register as a foreign agent. She has not been formally charged with espionage — most likely as her role was not to steal state and military secrets but to insinuate her way into U.S. political circles in ways useful for Russia’s foreign-policy aims, including deepening partisanship in Western countries and opening up avenues of influence.

Federal prosecutors accuse Butina of conspiring with two American citizens, one of whom she cohabited with, and a top Russian official to influence U.S. policy toward Russia by infiltrating the National Rifle Association gun rights group and other conservative special interest groups potentially influential on the Trump administration.

U.S. prosecutors allege in a memorandum filed in support of a request for Butina to be held in detention while she awaits trial that the Russian gun-rights activist “maintained contact information for individuals identified as employees of the Russian FSB.” Additionally, prosecutors claim FBI surveillance observed Butina having a private meal with a Russian diplomat whom the U.S. government expelled in March 2018 for suspicion of being a Russian intelligence officer.

From court papers filed by U.S. prosecutors last week it remains unclear whether her operation was initiated by Russia’s Federal Security Service, or FSB, or whether it was conceived by her patron, Alexander Torshin, a Russian central banker, as a way to boost himself within the Kremlin administration, with the FSB only getting involved subsequently.

A former British counter-intelligence officer says that’s a distinction without much meaning in a Kremlin administration seeded with so-called siloviki, Russian intelligence officers who have formally left the security agencies but are considered still active by Western intelligence officials. Many occupy high-ranking positions in the government of Russian leader Vladimir Putin, himself a former KGB officer.

Among the more traditional tradecraft techniques Butina allegedly used was offering sex to cozy up to U.S. politicians and lobbyists; in one case, according to U.S. prosecutors, to try to secure a job with an American special interest organization she had targeted. She lived with a Republican political operative twice her age. He has been identified in U.S. media as lobbyist Paul Erickson. She chafed, though, at the cohabitation, and, according to prosecutors she treated the relationship “as simply a necessary aspect of her activities.”

Butina has pled not guilty. Her lawyer, Robert Driscoll, says all she was doing was trying to help improve relations between the United States and Vladimir Putin’s Russia. And he denies she’s a spy, telling CNN Friday that much of the case against her was “taken completely out of context.”

Butina, who came to the United States in 2014 on a student visa, founded a pro-gun group in Russia called Right to Bear Arms and used gun activism in what U.S. prosecutors allege was a “calculated, patient” plan directed by Torshin to infiltrate the NRA and conservative special interest groups to make inroads into American political circles. Social media platforms were highly useful in the endeavor as she cut a swathe through U.S. conservative politics, boasting on her Facebook page of meetings with, among others, former Republican presidential candidates Rick Santorum and Scott Walker, the current Wisconsin governor.

In one e-mail to Butina, disclosed in court papers, Torshin praised her efforts, comparing them to Kremlin agent Anna Chapman, another flame-haired Russian who gained international notoriety after her 2010 arrest in the United States. Chapman and a handful of other Russians were deported to Russia in July 2010, as part of a prisoner exchange. “You have upstaged Anna Chapman,” Torshin declared.

Journalist Michael Isikoff at Yahoo News had a front seat view of Butina’s methods. He co-authored with David Corn the book “Russian Roulette: The Inside Story Of Putin’s War On America And The Election Of Donald Trump” and had been tracking Butina’s activities.

He said she and Torshin had been making efforts to influence American conservative political organizations. He told the American public broadcaster NPR in an interview: “As we reported in the book — David Corn and I — there’s a Republican lobbyist who remembers being approached by her at a CPAC conference — Conservative Political Action Conference — and just being struck by how solicitous she was, how she wanted to stay in touch with him and become his Facebook friend. And this is a somewhat elderly gentleman, balding, wasn’t used to this kind of attention from a young, attractive Russian woman.”

Hiding in plain sight on the Internet, using overtly social media networking platforms holds risks, too. Being active on Facebook increases the chance of exposure, prompting the attention of counter-intelligence watchers, as well as journalists. In an e-mail exchange with VOA, Isikoff noted, he “friended’ her [on Facebook] in order to get in touch so I could interview her.”

And a U.S. counter-intelligence official says Butina drew attention to herself as much by her social media activity as her physical activities. So much so that she was called to testify earlier this year by the Senate Intelligence Committee, during which, according to CNN she disclosed her gun activism received funding from Russian billionaire Konstantin Nikolaev, another Kremlin-tied oligarch.

The Butina case is adding to an unfolding picture of a sophisticated and disruptive covert Russian influence campaign in the United States and the West, with the Kremlin targeting both sides of the political spectrum, say Western officials. In Soviet times, Moscow focused on far-left parties and nuclear-disarmament groups, but as a 2014 report by the Budapest-based think tank Political Capital noted, the Kremlin in recent years has become more sophisticated, courting overtly and covertly groups on the populist right of the Western political spectrum as well as the left.

The politically ambidextrous nature now of Russian intelligence and influence campaigns was dramatically captured during the 10th anniversary celebrations of the Kremlin-funded RT broadcaster in December 2015, when Green Party presidential candidate Jill Stein was an invitee to a gala dinner. She sat at the same table as President Putin — along with Gen. Mike Flynn, who served briefly as President Donald Trump’s national security adviser, before pleading guilty to lying to the FBI about contacts he had with Russian officials during Trump’s presidential transition.
…

ЄС, Новини, Світ

Wildfires in Greece Kill At Least 49

Fire officials in Greece said Tuesday at least 49 people have been killed and more than 140 injured in wildfires raging through resort towns near the country’s capital.

Regional authorities have declared a state of emergency in areas east and west of Athens and deployed the army to help fight the blazes.

Athens has asked the European Union for aerial and ground support to help battle the flames. Greece said Cyprus offered to send firefighters, while Spain offered water-dropping aircraft. BBC News reported countries, including Italy, Germany, Poland and France, have sent planes, vehicles and firefighters.

Prime Minister Alexis Tsipras cut short a visit to Bosnia on Monday and returned to Athens to preside over an emergency-response meeting.

“We are doing everything humanly possible to try and tackle these fires,” Tsipras said. “What concerns us is that there are fires occurring simultaneously.”

The first fire broke out in a pine forest near the small town of Kineta, 50 kilometers west of Athens.

Three communities were evacuated, and the blaze shut down a nearly 20-kilometer section of a major highway.

High temperatures of up to 40 degrees Celsius have been predicted for Greece, and authorities have warned that the risk of forest fires is high. Wind gusts of up to 80 kph were hampering efforts to contain the blazes.

Another fire was burning northeast of Athens, in the Penteli area, moving into the town of Rafina. The mayor of Rafina estimated at least 100 homes have been destroyed.

The Greek coast guard sent boats to the area to evacuate residents trapped on the beach by the flames. It was also searching for a boat reported missing that was said to be carrying Danish tourists fleeing the fires.

A local fire chief went on state TV to appeal to people to leave the area after some tried to stay in their properties.

“People should leave, close up their homes and just leave. People cannot tolerate so much smoke for so many hours,” Achilleas Tzouvaras said. “This is an extreme situation.” 
…

ЄС, Новини, Світ

Former Macron Security Aide Claims He Was Trying to Help Police

A former senior security aide for French President Emmanuel Macron is insisting he was trying to help police when he was caught on video assaulting a protester at a May Day demonstration.

The outcry sparked by the video is the most damaging scandal to hit Macron since he took office last year.

The former security aide, Alexandre Benalla, who was fired by Macron on Friday, said Monday his action was “vigorous but without violence and caused no injury,” according to a statement released by his lawyers.

“This personal initiative … is obviously being used to tarnish the president in circumstances that defy comprehension,” the statement read.

Benalla, along with another member of Macron’s ruling party, Vincent Crase, were charged Sunday with violence, interfering in the exercise of public office and the unauthorized public display of official insignia.

The video made public by Le Monde newspaper last week shows Benalla, who is not a police officer, wearing a police helmet with visor as well as a police armband while dragging a woman away from the crowd and later beating a male protester as riot police looked on while breaking up a May Day protest in Paris.

Benalla said in the statement issued by his lawyers Monday that the man and woman he was filmed scuffling with were “particularly virulent individuals” whom he had been trying to “bring under control” while “lending a hand” to police.

On Monday, Interior Minister Gerard Collomb told lawmakers he took no action against Benalla after the presidency assured him in early May that Benalla would be punished.

Three high-ranking police officers have been charged with misappropriation of the images and violating professional secrecy for illegally giving Benalla video surveillance footage of the incidents to help him try to clear his name. They have been suspended from their jobs.

Benalla, 26, handled Macron’s campaign security and has remained close to the president.
…