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Few heart patients use cardiac rehab after stenting

Few heart patients use cardiac rehab after stenting Despite benefits from rehabilitation such as better quality of life and lower rates of rehospitalization, patients may not attend these sessions because of issues related to insurance, costs and access to a rehab facility, the study authors report in the Journal of the American College of Cardiology. Efforts to get doctors to increase their referrals of patients for cardiac rehab have worked, the authors write, but more needs to be done to make sure patients attend the sessions. "Unfortunately, the use of cardiac rehabilitation among eligible patients remains low," he told Reuters Health by email.


Northeast Congo insecurity hampers response to measles outbreak

Northeast Congo insecurity hampers response to measles outbreak Insecurity in northeast Congo has hampered a measles vaccination drive and forced people to flee their homes, local responders said on Wednesday, complicating efforts to control the spread of a virus that has killed more people that Ebola this year. At least 1,500 people have died from measles in Democratic Republic of Congo since the start of 2019, according to health authorities, compared with 1,390 felled by an Ebola epidemic in the east. Ethnic violence between Lendu farmers and Hema livestock herders in the northeastern province of Ituri has forced thousands to seek sanctuary in refugee camps in the regional capital of Bunia.


Canada opens probe into 250,000 GM pickups, SUVs over brake performance

Canada opens probe into 250,000 GM pickups, SUVs over brake performance The U.S. National Highway Traffic Safety Administration (NHTSA) in November into 2.73 million U.S. 2014-2016 model year SUVs and pickups after receiving 487 reports of hard brake pedal effort accompanied by extended stopping distance that were attributed to deterioration of the engine-driven brake assist vacuum pump.


GLOBAL MARKETS-Stocks gain, yields lower after Fed signals possible rate cuts

GLOBAL MARKETS-Stocks gain, yields lower after Fed signals possible rate cuts A gauge of global stock markets added to gains on Wednesday and benchmark U.S. Treasury yields and the U.S. dollar fell after the U.S. Federal Reserve signaled possible rate cuts of as much as half a percentage point over the remainder of this year. The U.S. central bank held interest rates steady and said it "will act as appropriate to sustain" the economic expansion as it approaches the 10-year mark and dropped a promise to be "patient" in adjusting rates. The market expects the Fed could cut rates as soon as next month.


Mom who died in Michigan river with 2 girls was 'tired, sad'

Mom who died in Michigan river with 2 girls was 'tired, sad' A Michigan woman who drove her car into a river, killing herself and twin daughters, had been talking about being "sad and lonely," a family member said. The bodies of Ineza McClinton, 44, and 9-year-old twins Angel and Faith McClinton were recovered Monday and Tuesday from the Kalamazoo River. McClinton was "having some difficulties in her life," another daughter, Tishyron McClinton, told TV station WWMT .


Northeast Congo insecurity hampers response to measles outbreak

Northeast Congo insecurity hampers response to measles outbreak Insecurity in northeast Congo has hampered a measles vaccination drive and forced people to flee their homes, local responders said on Wednesday, complicating efforts to control the spread of a virus that has killed more people that Ebola this year. At least 1,500 people have died from measles in Democratic Republic of Congo since the start of 2019, according to health authorities, compared with 1,390 felled by an Ebola epidemic in the east. Ethnic violence between Lendu farmers and Hema livestock herders in the northeastern province of Ituri has forced thousands to seek sanctuary in refugee camps in the regional capital of Bunia.


Lower Interest Rates Coming? Here's What It Means for You

Lower Interest Rates Coming? Here's What It Means for You Get ready. The Federal Reserve wants to start cutting rates.


The Latest: Stocks rise, yields fall as Fed signals cuts

The Latest: Stocks rise, yields fall as Fed signals cuts Stocks rose on Wall Street Wednesday and bond yields fell even lower after the Federal Reserve indicated that it's prepared to start cutting interest rates if needed to protect the economy. Major market indexes had been wavering between small gains and losses as traders waited for the Fed's policy announcement to be released at 2 p.m. Eastern Time. The bond market had a more pronounced reaction to the Fed's statement.


Pot, guns, sports betting on agenda for lawmakers' last day

Pot, guns, sports betting on agenda for lawmakers' last day Maine lawmakers are hoping to finish up work on marijuana sales, renewable energy and online sports betting during the last scheduled day of this session Wednesday. Lawmakers say they are prepared to work into the night to get it all done.


Gymnastics-USA Gymnastics updates Safe Sport Policy

Gymnastics-USA Gymnastics updates Safe Sport Policy After being rocked by a sexual abuse scandal, USA Gymnastics on Wednesday released an updated Safe Sport Policy designed to provide clearer guidelines to protect those involved in the sport. The policy, posted on its website, lists seven categories of reportable misconduct: sexual, emotional, physical misconduct, stalking, bullying behaviour, hazing, and harassment. It links to a page where misconduct can be reported online.


No Rate Cut Yet -- Here’s What Investors Need to Know About the June Fed Meeting

No Rate Cut Yet -- Here’s What Investors Need to Know About the June Fed Meeting The Fed didn’t cut interest rates, but there’s a lot more to the story.


What Does SunCoke Energy, Inc.'s (NYSE:SXC) Balance Sheet Tell Us About It?

What Does SunCoke Energy, Inc.'s (NYSE:SXC) Balance Sheet Tell Us About It? Investors are always looking for growth in small-cap stocks like SunCoke Energy, Inc. (NYSE:SXC), with a market cap of...


Sierra Leone president opens bids for 7 km airport bridge

Sierra Leone president opens bids for 7 km airport bridge Sierra Leone's president opened a tender process on Wednesday for building a 7 km bridge at a cost of up to $2 billion to link Freetown to the country's only international airport. Freetown International Airport at Lungi is currently accessible only by boat or helicopter, separated from the capital by the nearly five km (three mile) wide mouth of the Rokel river. "I will closely superintend the entire process and ensure that every tender is compliant and every tender is in the best long-term interest of Sierra Leone," President Julius Maada Bio said in a Wednesday speech at State House.


Police: Attorney's wife killed spouse, burned his body

Police: Attorney's wife killed spouse, burned his body Police say the wife of an Atlanta attorney shot him and then burned his remains in a wooded area on their property. News outlets report 59-year-old Melody Farris was arrested in Tennessee on Tuesday and charged with malice murder, aggravated assault and concealing a body. Farris' son found the remains in July 2018 in Cherokee County but the badly charred remains were difficult to identify.


2 arrested in gun death of 5-year-old boy in Wisconsin

2 arrested in gun death of 5-year-old boy in Wisconsin Police in Wisconsin say two men who dropped off a 5-year-old boy at a hospital with a fatal gunshot wound have been arrested. The child, Dakari Weldon, was shot Monday at a home in Kenosha and taken to Froedtert South Hospital. The child's grandfather, Curtis Cannon, told WISN-TV that the men who left Dakari at the hospital were his adult sons.


Tennis-Kristyna beats Karolina in battle of Pliskova twins

Tennis-Kristyna beats Karolina in battle of Pliskova twins Kristyna Pliskova pulled off the biggest win of her career but it was bad news for twin sister Karolina who was on the receiving end of a 6-2 3-6 7-6(7) defeat at the Birmingham grasscourt event on Wednesday. The world number 112 fired down 24 aces as she beat world number three Karolina in their first meeting in a WTA event. It was her first win against a top-five ranked player and she will go on to play fellow Czech Barbora Strycova in the quarter-finals.


Two Painful Truths of America’s Religious Culture War

Two Painful Truths of America’s Religious Culture War The fundamental, founding structure of our American nation is relatively simple. While the federal government should seek the common good, its first responsibility is to secure the liberty of its citizens. Conversely, while citizens should seek to influence their nation through government, their first responsibility is to exercise their liberty toward virtuous ends. This is the essence of the ordered liberty envisioned by the Founders. Government protects our “unalienable rights,” yet at the same time our Constitution is made for a “moral and religious people” and is “wholly inadequate to the government of any other.”Failure on either end — failure of the government to protect liberty or failure of the people to be virtuous — breaks the compact and places unacceptable strains on our nation and culture. As Christian communities face increasing governmental hostility and struggle with declining church attendance, it’s time for both sides of our nation’s religious culture war to confront their role in disrupting these core principles of the American founding. Here are two painful truths: Secular government is breaking its promise of liberty, and the American church is breaking its promise of virtue.First, the mainly progressive effort to restrict the free exercise of religion is plainly illiberal and contrary to the constitutional order. If there is one single legal strand that ties together the myriad threats to religious liberty and free speech in the United States — efforts to coerce Catholic hospitals and adoption agencies into violating their convictions, to toss Christian student groups off campuses, to force Christian institutions to facilitate access to abortifacients, to compel the speech of Christian creative professionals, or to place in doubt the accreditation and tax exemptions of Christian educational institutions — it’s that they depend for their success on inverting the proper constitutional order.Progressive government passes sweeping and intrusive statutes and regulations and then treats the free-exercise and free-speech claims of religious individuals and institutions as a form of special pleading. Yet this gets the legal hierarchy upside down. The Constitution — including the First Amendment, of course — is the supreme law of the land, and statutes and regulations are making claims against it. Thus, the default proposition is that free speech, free exercise, and voluntary association enjoy protection, with that protection to fall away only in the face of compelling governmental interests, enacted through the least restrictive means.Efforts to chip away at this default structure aim to disrupt the primacy of liberty and the legal primacy of the Constitution. So, when people of faith decry attacks on religious freedom, they’re not merely an interest group seeking accommodation; they’re citizens seeking to maintain the core principles of the American founding.This brings us to the second truth. Even while religious conservatives are right to fight for their liberties, we need to understand that no government or cultural institution is more responsible for the decline of the church than the church itself. All too many Christians look at falling Sunday-morning attendance and increasing faithlessness and lash out — at Hollywood, at academia, or at (to take a recent example) “drag-queen story hour.”Instead, we should be more focused on lashing in — at hypocrisy, at adultery, at abuse, and all the sins besetting our nation’s congregations. Drag-queen story hours could populate our libraries from coast to coast and they would do far less damage to American Christianity than the continued proliferation of the Catholic/Protestant abuse crisis.Not one Christian parent has to take his or her child to see a drag queen at the library, but all too many Christian parents have had to explain the moral collapse of pastors and church leaders to their kids. All too many Christian wives have had to deal with the devastation of a husband addicted to porn, and all too many Christian spouses have had to pick up the pieces after infidelity and divorce.Even worse, we often do the opposite of the thing that Paul commanded — we are oh so understanding of our own failings while oh so intolerant of the world’s sins. First Corinthians 5, verses 9 through 12 are among the least-observed and most-defied verses in the Bible:> I wrote to you in my letter not to associate with sexually immoral people — not at all meaning the sexually immoral of this world, or the greedy and swindlers, or idolaters, since then you would need to go out of the world. But now I am writing to you not to associate with anyone who bears the name of brother if he is guilty of sexual immorality or greed, or is an idolater, reviler, drunkard, or swindler — not even to eat with such a one. For what have I to do with judging outsiders? Is it not those inside the church whom you are to judge?He wrote those words from within a depraved Roman culture — a world that was replete with temptations of the flesh. While he did not ignore the world’s sin, his disciplinary focus was inward, even as his evangelistic focus was outward.Wise members of the church are beginning to recognize this truth. Earlier this year, the Southern Baptist Convention’s Ethics and Religious Liberty Commission — no slouch in the defense of Christian freedom — decided to change the focus of its annual conference to examine the crisis of sex abuse in the church. My wife has publicly discussed her own experience of childhood sexual abuse at the hands of a youth pastor, and that dreadful event had more adverse impact on her faith than any secular academic class ever could.If we want the church to thrive, we should protect liberty, and that means progressive governments should be held accountable under law for their illiberal attacks on free exercise. But absent our own faithfulness, every legal or political victory will be for naught. We’ll continue to bleed members, lose our witness, and close our doors. Our true challenge lies not with the drag queens without but rather with the adulterers and abusers within.


Canada Finance Minister says permitting work on Trans Mountain oil pipeline underway

Canada Finance Minister says permitting work on Trans Mountain oil pipeline underway Work to obtain building permits for the Trans Mountain oil pipeline started on Wednesday, Canadian Finance Minister Bill Morneau said, a day after the federal government approved the contentious expansion project despite widespread opposition. Once complete, the project will triple the capacity of the Trans Mountain pipeline, which carries crude from Alberta's oil sands to British Columbia's Pacific Coast. Supporters say it is a vital conduit to help Canadian oil reach higher-priced international markets, but opponents including environmental and indigenous groups and some municipalities along the route argue the risk of a spill is too great.


Can Trump Fire Fed Chair Jerome Powell? What History Tells Us

Can Trump Fire Fed Chair Jerome Powell? What History Tells Us Can Trump Fire Fed Chair Jerome Powell? What History Tells Us


France sends top diplomat to Iran for talks to reduce tensions

France sends top diplomat to Iran for talks to reduce tensions French President Emmanuel Macron's top diplomatic adviser travelled to Iran on Wednesday to hold talks with local officials as part of European efforts to reduce tensions in the Gulf region, a presidency official said. "The diplomatic adviser did indeed travel to Iran on June 19...to hold high-level talks with the objective of contributing to a de-escalation of tensions in the region," the official said, confirming information from two diplomatic sources. The diplomat, Emmanuel Bonne, has been based in Iran in the past and is a Middle East expert.


Man arrested for slapping reporter's hand at Trump's rally

Man arrested for slapping reporter's hand at Trump's rally Authorities in Florida say a man was arrested outside the arena where President Donald Trump made his reelection announcement for trying to slap a cellphone out of a journalist's hand. The Orlando Police Department said Wednesday that 51-year-old Daniel Kestner is facing a battery charge for trying to slap the phone out of the hand of Orlando Sentinel reporter Michael Williams. An arrest report says Williams was filming Kestner arguing with another man outside the Amway Center.


US stocks edge higher after Fed signals future rate cuts

US stocks edge higher after Fed signals future rate cuts U.S. stock indexes veered modestly higher Wednesday afternoon after the Federal Reserve reaffirmed that it is prepared to cut interest rates if needed to shield the economy from trade conflicts or other threats. As expected, the central bank's policymakers decided to leave the Fed's benchmark interest rate unchanged. Investors are betting on at least one interest rate cut this year, possibly as early as July.


UPDATE 1-Has "the sacrificial lamb" arrived?: UN cites new recordings in Khashoggi murder

UPDATE 1-Has "the sacrificial lamb" arrived?: UN cites new recordings in Khashoggi murder Moments before Saudi journalist Jamal Khashoggi was killed and dismembered last October, two of his suspected murderers waiting at the kingdom's Istanbul consulate fretted about the task at hand, according to a U.N. report published on Wednesday. Will it "be possible to put the trunk in a bag?" asked Maher Mutreb, a Saudi intelligence officer who worked for a senior advisor to the crown prince, according to the report from the U.N. special rapporteur on extrajudicial executions. Mutreb and 10 others are now on trial in closed hearings in Saudi Arabia for their role.


Erdogan says opposition candidate's alleged insult could bar him from Istanbul mayoralty

Erdogan says opposition candidate's alleged insult could bar him from Istanbul mayoralty Turkish President Tayyip Erdogan intensified pressure on the opposition candidate in a re-run election for mayor of Istanbul by saying he would be barred from taking office if found guilty of insulting a provincial governor. Ekrem Imamoglu, from the main opposition Republican People's Party (CHP), narrowly beat the candidate of Erdogan's AK Party in a March mayoral contest. The AKP's loss of Istanbul in the March 31 local elections was one of the worst setbacks for Erdogan since his Islamist-rooted party swept to national power in 2002.


Sierra Leone president opens bids for 7 km airport bridge

Sierra Leone president opens bids for 7 km airport bridge Sierra Leone's president opened a tender process on Wednesday for building a 7 km bridge at a cost of up to $2 billion to link Freetown to the country's only international airport. Freetown International Airport at Lungi is currently accessible only by boat or helicopter, separated from the capital by the nearly five km (three mile) wide mouth of the Rokel river.


Media in Russia's south protest journalist's arrest

Media in Russia's south protest journalist's arrest Journalists in southern Russia are protesting the arrest of a newspaper editor on charges of terrorism widely seen as trumped up. Abdulmumin Gadzhiev, the religious affairs editor of the independent weekly Chernovik, was arrested Friday in the Caspian Sea province of Dagestan. Investigators say that he had sent money to charities suspected of funding the Islamic State group and other militants — the accusations he denied.


Is Banco Latinoamericano de Comercio Exterior, S.A (NYSE:BLX) A Risky Dividend Stock?

Is Banco Latinoamericano de Comercio Exterior, S.A (NYSE:BLX) A Risky Dividend Stock? Is Banco Latinoamericano de Comercio Exterior, S.A (NYSE:BLX) a good dividend stock? How would you know? Dividend...


Phillips 66 Seeks Texas Terminal Project as Oil Exports Grow

Phillips 66 Seeks Texas Terminal Project as Oil Exports Grow (Bloomberg) -- Phillips 66 is looking to build an offshore export terminal in the Gulf of Mexico, a project that would join a growing list of facilities being planned to handle the growing shipments of U.S. shale oil.The proposed deepwater port would be located about 21 nautical miles off the Texas coast, near the Port of Corpus Christi, the company said Wednesday in a statement. Phillips 66, the largest U.S. refining company by market value, would construct two parallel pipelines to carry crude to the facility’s two floating jetties, known as single-point mooring buoys, according to people familiar with the matter, who asked not to be named because the plan hasn’t been announced.Any offshore terminal would require approval from the U.S. Coast Guard and the U.S. Department of Transportation’s Maritime Administration.The proposed project “would provide an additional safe and environmentally sustainable solution for the export of abundant domestic crude oil supplies from major shale basins to global markets,” Dennis Nuss, a spokesman, said in an emailed statement.Phillips is already a partner in a venture to develop a deepwater marine terminal in Ingleside, Texas. Going ahead with an offshore project as well would put the company in direct competition with commodity trading house Trafigura Group Ltd., which is developing its own terminal in the Gulf of Mexico. That proposal has faced opposition from the Port of Corpus Christi, which along with The Carlyle Group is developing an onshore export terminal. (Updates with comment from company beginning in second paragraph.)\--With assistance from Sheela Tobben.To contact the reporters on this story: Rachel Adams-Heard in Houston at radamsheard@bloomberg.net;David Wethe in Houston at dwethe@bloomberg.netTo contact the editors responsible for this story: Simon Casey at scasey4@bloomberg.net, Christine BuurmaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.


Free tampons for students: Boston latest to tackle 'period poverty' with $100K program

Free tampons for students: Boston latest to tackle 'period poverty' with $100K program Boston Mayor Marty Walsh wants to improve menstrual equity for girls in low-income households, many of whom struggle to pay for tampons and pads.


Bonds Rise, Stocks Ease Gains as Fed Turns Dovish: Markets Wrap

Bonds Rise, Stocks Ease Gains as Fed Turns Dovish: Markets Wrap (Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.U.S. stocks pared gains and Treasuries rallied, while the dollar weakened by the most since March after the Federal Reserve struck a dovish tone in its latest policy statement.The S&P 500 pushed within striking distance of an all-time high before retreating. The two-year note yield slipped to 1.79% after the central bank kept rates steady and signaled a greater willingness to lower them this year. Moves were somewhat muted after markets had been pricing in such a turn for the past few weeks. Crude oil declined.“We’re definitely hearing a decidedly more dovish Fed and while you could point the finger at pressure from the White House, it’s key to remember that the Fed’s focus has always been on two things and two things only: Jobs and inflation,” said Mike Loewengart, vice president of investment Strategy at E*TRADE Financial.Chairman Jerome Powell and colleagues dropped a reference in their statement to being “patient” on borrowing costs and forecast a larger miss of their 2% inflation target this year. Policy makers kept their key rate in a range of 2.25% to 2.5%.As many of the world’s biggest central banks signal a shift to easier policy, traders are weighing that against trade war fears and signs of cooling global growth. U.S. President Donald Trump said Tuesday that he had a “very good” phone conversation with Chinese President Xi Jinping. The two leaders will hold an “extended meeting” at the G-20 summit on June 28-29 in Osaka.“The Federal Reserve trumps Trump’s tariffs,” Brent Schutte, chief investment strategist, Northwestern Mutual Wealth Management, said in an interview at Bloomberg’s New York headquarters. “We’ve entered this bad news is good news time period and good news is still good news -- you’re in this perverse time period.”These are the main moves in markets:StocksThe S&P 500 Index rose 0.1% as of 2:28 p.m. New York time, while the Nasdaq Composite Index gained 0.1% and the Dow Jones Industrial Average increased less than 0.1%.The Stoxx Europe 600 was little changed.The MSCI Emerging Market Index climbed 1.6%, the biggest increase in more than a week.The MSCI Asia Pacific Index surged 2%, the highest in six weeks on the largest jump in more than five months. CurrenciesThe Bloomberg Dollar Spot Index declined 0.4%.The euro rose 0.2% to $1.1206, while the yen weakened less than 0.1% at 108.35 per dollar.The British pound rose 0.6% to $1.2632, the biggest rise in more than a week.The MSCI Emerging Markets Currency Index rose 0.5%.BondsThe yield on 10-year Treasuries fell 2 basis points to 2.04%.Germany’s 10-year yield climbed 3 basis points to -0.29%. CommoditiesWest Texas Intermediate fell 0.6% to $53.57 a barrel.Gold rose 0.3% to $1,350 an ounce.The Bloomberg Commodity Index dropped 0.5%.To contact the reporters on this story: Sarah Ponczek in New York at sponczek2@bloomberg.net;Vildana Hajric in New York at vhajric1@bloomberg.netTo contact the editors responsible for this story: Jeremy Herron at jherron8@bloomberg.net, Dave LiedtkaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.


Fed opens door to rate cut amid growing 'uncertainties'

Fed opens door to rate cut amid growing 'uncertainties' The Federal Reserve on Wednesday opened the door to an interest rate cut soon, saying uncertainties about the economic outlook are on the rise and vowing to act to keep the economy growing. The central bank left rates unchanged but one policymaker dissented in the vote, advocating for an immediate cut instead -- something President Donald Trump has been calling for loudly.


Is It Time To Consider Buying Skyworks Solutions, Inc. (NASDAQ:SWKS)?

Is It Time To Consider Buying Skyworks Solutions, Inc. (NASDAQ:SWKS)? Let's talk about the popular Skyworks Solutions, Inc. (NASDAQ:SWKS). The company's shares saw a double-digit share...


Can You Imagine How Chuffed Biomerica's (NASDAQ:BMRA) Shareholders Feel About Its 141% Share Price Gain?

Can You Imagine How Chuffed Biomerica's (NASDAQ:BMRA) Shareholders Feel About Its 141% Share Price Gain? It hasn't been the best quarter for Biomerica, Inc. (NASDAQ:BMRA) shareholders, since the share price has fallen 11...


'It was the yellow beak that gave it away': Pennsylvania woman finds dead bird in canned spinach

'It was the yellow beak that gave it away': Pennsylvania woman finds dead bird in canned spinach A Pennsylvania woman said she discovered a surprise at the bottom of her canned spinach. Del Monte says it's investigating.


UPDATE 1-Soccer-AC Milan appoint Giampaolo in bid to end trophy drought

UPDATE 1-Soccer-AC Milan appoint Giampaolo in bid to end trophy drought AC Milan appointed Marco Giampaolo as their new coach on Wednesday, handing him the job of trying to end their eight-year trophy drought and take them back to the Champions League after a six-season absence. It is the first time the 51-year-old, previously in charge of Sampdoria for three seasons, has coached at one of Serie A's big clubs and he will also be looking to land the first trophy of his well-travelled and somewhat chequered career. Milan said in a statement that they had handed Giampaolo a two-year contract with an option to extend for a further year.


Dutch prosecutors charge 4 in shooting down of flight MH17 over eastern Ukraine

Dutch prosecutors charge 4 in shooting down of flight MH17 over eastern Ukraine Dutch prosecutors said they are charging four pro-Russian separatist commanders for their role in the shooting down of Malaysian Airlines flight MH17 over eastern Ukraine in 2014, pledging that the trial would begin in March 2020. Three of the men charged were Russian citizens, and Dutch police said they believed one of the commanders may have been an active member of Russia's military intelligence service at the time of the shooting down in July 2014. A Dutch-led international investigation has been examining who was responsible for the disaster, which killed all 298 passengers, and on Wednesday at a press conference in Nieuwegein in the Netherlands, investigators announced they now had enough evidence to bring charges.


Coal comeback? Trump plan breathes new life into aging power plants

Coal comeback? Trump plan breathes new life into aging power plants The Trump administration announced it is replacing Obama's Clean Power plan to combat climate change with one that boosts coal use.


Are you walking on sunshine? The summer solstice is Friday

Are you walking on sunshine? The summer solstice is Friday The summer solstice – the precise moment when the sun is at its highest point in the sky each year – will occur Friday at 11:54 a.m. EDT.


Short Seller That Targeted Noble Group Takes Aim at Another Trading House

Short Seller That Targeted Noble Group Takes Aim at Another Trading House (Bloomberg) -- Iceberg Research, the short seller that targeted commodities trader Noble Group Ltd., has another trading house in its sights: Trafigura Group Ltd.Trafigura is overstating the value of debt securities related to its 49.5% stake in Porto Sudeste, an iron ore export terminal in Brazil, Iceberg, headed by Arnaud Vagner, said Wednesday in a report on its website. Iceberg estimates those securities may be worth only a 10th of the $490 million carrying value that Trafigura attributes to them.“We found that Trafigura ignores economic reality to aggressively overvalue hundreds of millions in debt securities issued by an associate,” Iceberg said, adding that it holds a short position in Trafigura’s debt.IFRS accounting rules call for a valuation that’s specific for assets with little liquidity, know as level 3, “instead of relying on a market price that could be lacking economic ground,” Trafigura said in an emailed statement. The free float of the securities in question is approximately 10% and the volume traded per day is less than $8,000, the firm said. Trafigura is the world’s second-biggest independent oil and metals trader, but also owns infrastructure and mining assets.The report increases scrutiny on Trafigura’s accounting. While the company is closely held, it’s long been followed by hedge funds and other investors looking to profit from fluctuations in its bonds. The publication is the first time Iceberg has targeted a commodities trader since a series of reports, starting in 2015, alleging aggressive accounting at Hong Kong’s Noble Group.Trafigura’s $400 million of senior bonds due in 2023 were indicated 2 cents on the dollar lower at about 93 cents on Wednesday, according to data compiled by Bloomberg.Valuation ChangeIceberg said that in 2015 Trafigura switched from a mark-to-market valuation of the Porto Sudeste securities to relying on its own calculation to determine their value -- a Level 3 valuation in accounting jargon. After adopting that accounting methodology, Trafigura booked revaluation gains on the securities in 2015, 2017, 2018 and 2019, Iceberg said.The revaluation gains boosted Trafigura’s profit, while ignoring a decline in the market value of the securities and the financial uncertainty highlighted by Porto Sudeste’s auditor, Ernst & Young, Iceberg said.“It seems Trafigura thinks they are smarter than the market when valuing securities,” Iceberg said.Vagner, a former Noble credit analyst, published the reports on Noble anonymously. The allegations started a downward spiral for what was once Asia’s largest commodities trader, forcing billions of dollars in asset writedowns, and an eventual court-supervised debt restructuring in 2018.Noble always denied Iceberg’s allegations and sued Vagner in Hong Kong, alleging he and a Seychelles-registered company conspired to damage the commodities trader by anonymously spreading false and misleading information. Vagner denies the allegations in the ongoing suit. He revealed himself to be behind the Iceberg reports for the first time last year.Trafigura and Mubadala Investment Co., an Abu Dhabi sovereign wealth fund, bought a controlling stake in the company developing Porto Sudeste in 2014 for about $400 million from a venture of former billionaire Eike Batista.The port has struggled to attract users and remains underutilized. Brazil’s iron ore sector is dominated by Vale SA, which has its own export facilities. Trafigura said the port handled 9.5 million tons of ore in 2018, well below its capacity of 50 million tons.Profit ReboundTrafigura said this month that its adjusted debt rose to $7.6 billion at the end of March, from $6 billion six months earlier. Total debt climbed to $32.7 billion, the highest among the major independent commodities traders.Fiscal first-half profit jumped by 92%, after oil-trading earnings rebounded sharply. That came after Trafigura’s profit declined for four straight years amid dismal metals markets and a shift in oil markets, which made it tougher to make money storing crude to sell later at higher prices.Trafigura has more than 2.2 billion euros ($2.5 billion) of bonds outstanding, but hasn’t requested a rating from major Western agencies. It was awarded a AAA rating by China Chengxin International Rating and China Lianhe Credit Rating for its maiden yuan bond sale last year.(Updates with Trafigura comment in fourth paragraph.)To contact the reporters on this story: Andy Hoffman in Geneva at ahoffman31@bloomberg.net;Luca Casiraghi in London at lcasiraghi@bloomberg.netTo contact the editors responsible for this story: James Herron at jherron9@bloomberg.net, ;Lynn Thomasson at lthomasson@bloomberg.net, Dylan Griffiths, Nicholas LarkinFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.


Iranian Official Downplays Possibility of Military Confrontation with U.S.

Iranian Official Downplays Possibility of Military Confrontation with U.S. A top Iranian official on Wednesday predicted that no military conflict with the U.S. was coming, despite the Trump administration's decision to send more troops to the Middle East amid tensions with Tehran.“There will not be a military confrontation between Iran and America since there is no reason for a war,” said Ali Shamkhani, the secretary of Iran’s Supreme National Security Council, according to state media outlet IRNA.Secretary of State Mike Pompeo has accused Iran of being behind last week's attacks on two oil tankers — laden with “Japan-related cargo,” according to Japan’s Trade Ministry — in the Gulf of Oman. The U.S. Navy responded to the attacks, offering assistance after a series of explosions that partially destroyed the tankers and injured their crew members.Iranian defense minister Amir Hatami on Wednesday doubled down on his denial that Iran was responsible for the attacks, saying, “the accusation against Iran is totally a lie and I dismiss it firmly,” according to the Iranian Fars news agency.Shamkhani echoed Hatami's rhetoric, pointing the finger back at the U.S. "Accusing other countries has turned into a common practice among U.S. officials as they try to pressure other counties," he said.On Monday, the Pentagon announced the U.S. will send 1,000 more troops as well as additional military resources to the Middle East "for defensive purposes to address air, naval, and ground-based threats."“The recent Iranian attacks validate the reliable, credible intelligence we have received on hostile behavior by Iranian forces and their proxy groups that threaten United States personnel and interests across the region,” Acting Secretary of Defense Patrick Shanahan said.The same day, Iran’s Atomic Energy Organization announced that the country plans to flout the restrictions on uranium stockpiling under the the nuclear deal signed with the Obama administration in 2015, which the Trump administration backed out of in May of last year.Earlier this month, Iran’s supreme leader said the U.S. would be powerless to stop Iran from obtaining nuclear weapons should it desire to develop them, adding that no further negotiations with American leaders are forthcoming.


Fed leaves its key rate unchanged but hints of future cuts

Fed leaves its key rate unchanged but hints of future cuts The Federal Reserve left its key interest rate unchanged Wednesday but signaled that it's prepared to start cutting rates if needed to protect the U.S. economy from trade conflicts and other threats. The Fed kept its benchmark rate — which influences many consumer and business loans — in a range of 2.25% to 2.5%, where it's been since December. It issued a statement saying that because "uncertainties" have increased, it would "act as appropriate to sustain the expansion." That language echoed a remark that Chairman Jerome Powell made two weeks ago that analysts interpreted as a signal that rate cuts were on the way.


UPDATE 1-Rugby-World Rugby scraps plans for Nations Championship

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Louisville survives shaky 8th, 9th to beat Auburn 5-3 at CWS

Louisville survives shaky 8th, 9th to beat Auburn 5-3 at CWS Two Louisville relievers survived anxious moments to hold Auburn to two runs over five innings and the Cardinals eliminated the Tigers from the College World Series with a 5-3 win Wednesday, completing a game suspended by rain one day earlier. Auburn (38-28) went 0-2 in its first CWS appearance since 1997. Louisville led 4-1 when the game was suspended after four innings Tuesday.


CORRECTED-US STOCKS-Wall Street climbs after Fed signals potential rate cuts

CORRECTED-US STOCKS-Wall Street climbs after Fed signals potential rate cuts Wall Street rose on Wednesday after the Federal Reserve held interest rates steady, as expected, and signaled potential cuts later this year. Saying it "will act as appropriate to sustain" economic expansion, the central bank signaled rate cuts of as much as half a percentage point over the remainder of 2019. "We think the Fed delivered.


Fed stands pat on rates, signals it's prepared to cut if trade war intensifies

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Why the new Ford Explorer has more in common with BMW and Mercedes

Why the new Ford Explorer has more in common with BMW and Mercedes Rear-wheel drive, responsive steering and firm breaks in the new 2020 Ford Explorer makes for smooth riding, on- or off-road.


Soccer-Mendy pinching himself at journey from wheelchair to Bernabeu

Soccer-Mendy pinching himself at journey from wheelchair to Bernabeu New Real Madrid signing Ferland Mendy recalled at his presentation on Wednesday the moment when he thought he would never play football again. The France left back, 24, joined Real last week from Olympique de Lyonnais for a reported 48 million euros, part of a huge squad rebuild by the 13-times European Champions which has already surpassed 300 million euros. "When I was 15 years old I had a hip operation and they told me I wasn't going to play football again," Mendy said.


Mitch McConnell: We paid for 'sin of slavery' by electing Obama

Mitch McConnell: We paid for 'sin of slavery' by electing Obama Mitch McConnell made headlines when he said acts like passing civil rights laws and electing Barack Obama could be considered compensation for slavery


What Kind Of Shareholder Owns Most Stratus Properties Inc. (NASDAQ:STRS) Stock?

What Kind Of Shareholder Owns Most Stratus Properties Inc. (NASDAQ:STRS) Stock? If you want to know who really controls Stratus Properties Inc. (NASDAQ:STRS), then you'll have to look at the makeup...


Boeing is moving space division headquarters to Florida

Boeing is moving space division headquarters to Florida Boeing says it is moving the headquarters of its space and launch division to Florida. The company said Tuesday that it was moving the space division headquarters from Arlington, Virginia, to Titusville on Florida's Space Coast. Boeing official Leanne Caret says it makes sense to move Boeing's space headquarters to Florida, where so much space history has taken place and the company is working on several future launches.