Home Blog Page 264

Facebook Reports 195% Jump in Profit in Q1 2016

Clyde K. Valle
-
0
Facebook Reports 195% Jump in Profit in Q1 2016

Facebook has posted a 195% jump in profit in Q1 of 2016 as the company continued to generate new advertising income.

The social network reported $1.5 billion in earnings for Q1 2016, compared to $512 million in Q1 2015.

As well as enticing advertisers to new products like live video, Facebook boosted sales on existing services.

The company also proposed a new class of shares, which will allow founder Mark Zuckergerg to sell his shares without losing control of Facebook.

It said the move will “encourage Mr. Zuckerberg to remain in an active leadership role at Facebook”.

Photo Facebook
Photo Facebook

Facebook shares rose over 9% in after-hours trading.

Sales for Q1 2016 reached $5.3 billion up from $3.5 billion in Q1 of 2015.

Mobile advertising made up 82% of Facebook’s overall advertising revenue, up from 73% at the same time last year.

Total monthly active users (MAU) increased 15% from a year earlier to 1.65 billion, which was ahead of analysts expectations.

On a call with investors, the social network said it intended to continue buying other companies, but only those offering services that could be “ubiquitous”.

Facebook has invested heavily in other companies – in 2012 it paid $1 billion for the photo-sharing site Instagram.

However, it is hard for investors to judge the success of such deals, as Facebook has not detailed earnings from acquired companies.

The announcement of the new share structure comes four months after Mark Zuckerberg and his wife Priscilla Chan announced they would give away 99% of their wealth.

Mark Zuckerberg and Priscilla Chan made the announcement after the birth of their daughter Max in December.

Rio 2016: Olympic Flame Handed over to Brazilian Authorities

Clyde K. Valle
-
0
Rio 2016: Olympic Flame Handed over to Brazilian Authorities

Greece handed over the Olympic flame to the Brazilian authorities during a ceremony in Athens.

The Olympic torch will arrive in Brazil next week and then will travel around the country ahead of the games in August.

Rio de Janeiro Mayor Eduardo Paes says the Olympic park is almost ready but there are concerns about delays to some projects.

The impeachment proceedings against Brazilian President Dilma Rousseff mean there is uncertainty as to who will be in power during the Olympic Games.

Photo Yahoo News
Photo Yahoo News

Brazil’s unemployment has also risen to about 10% as the economy has contracted for the second year in a row.

Rights group Amnesty International has also criticized the number of killings by police in the city’s shantytowns, known as favelas, where residents were “living in terror”.

Officers have killed 11 people in the favelas so far this month, Amnesty said, and were behind 307 such deaths last year.

Nevertheless, the head of Rio’s organizing committee Carlos Nuzman said the city was “ready to make history” as the flame was handed over to the Brazilians.

The Olympic torch will arrive on May 3 in the capital Brasilia after a short stopover in Switzerland.

https://www.youtube.com/watch?v=sS8nlAs35O0

Ted Cruz Names Carly Fiorina as His Vice Presidential Pick

Diane A. Wade
-
0
Ted Cruz Names Carly Fiorina as His Vice Presidential Pick

Ted Cruz has named Carly Fiorina as his running mate, in the event he becomes the GOP nominee at a campaign event in Indianapolis on April 27.

He called Carly Fiorina a “consistent, courageous fighter”.

The former presidential candidate is the former CEO of Hewlett-Packard.

Carly Fiorina dropped out of the presidential race after a poor showing at the New Hampshire primary.

She has been an active supporter for Texas Senator Ted Cruz on the campaign trail.

The early announcement is unusual because vice-presidential picks are not normally decided until after a candidate secures the nomination.

Photo AP
Photo AP

“Over and over again, Carly has shattered glass ceilings,” Ted Cruz said.

Carly Fiorina could help Ted Cruz in his battle against front-runner Donald Trump, who has made disparaging comments about women – including her.

“Look at that face. Would anyone vote for that? Can you imagine that, the face of our next president?” he said.

Carly Fiorina responded: “I think women all over this country heard very clearly what Mr. Trump said.”

Ted Cruz alluded to this exchange in introducing Carly Fiorina in Indiana, saying she handled it with “grace and class”.

While at Hewlett-Packard, Carly Fiorina laid off 30,000 people and was fired by the company’s board, though she has argued that her leadership “saved” the company.

Carly Fiorina also had a failed bid for a California Senate seat.

Donald Trump’s son Eric Trump called the move desperate.

While addressing the crowd, Carly Fiorina broke into song.

She sang about Ted Cruz’s daughters and their times together on the Cruz campaign bus.

“Donald Trump and Hillary Clinton are two sides of the same coin,” Carly Fiorina said, and Ted Cruz’s presidential bid is not over yet, despite what “the media says”.

Donald Trump Unveils America First Foreign Policy Plan

Diane A. Wade
-
0
Donald Trump Unveils America First Foreign Policy Plan

Republican presidential hopeful Donald Trump has detailed his foreign policy just one day after winning in five primaries.

In a speech in Washington on April 27, Donald Trump said he would pursue an “America First” policy.

The New York businessman called the foreign policy of President Barack Obama’s administration “a complete and total disaster”.

On April 26, Donald Trump called himself the Republican “presumptive nominee” after his primary wins.

He claimed victories in Connecticut, Delaware, Rhode Island, Maryland and Pennsylvania.

Before the speech, Donald Trump promised it would not be a “Trump doctrine”, and that he would retain some flexibility to make changes if elected.

Photo Getty Images
Photo Getty Images

Much of his speech focused on what he called the “weakness, confusion and disarray” of the Obama administration, and his hope of reversing it.

Before the audience in Washington, he vowed to “shake the rust off America’s foreign policy”.

Donald Trump said that, under his administration “their days are numbered – I won’t tell them when, and I won’t tell them how”.

He had previously said he would weaken ISIS by cutting off their access to oil, and supported waterboarding and other strong interrogation methods against them. He did not return to these proposals on today’s speech.

“Containing the spread of radical Islam must be a major foreign policy goal of the United States and indeed, the world,” Donald Trump said, adding that he would work closely with US allies in the Middle East to combat extremism.

He also said that new talks would be sought with the US’ allies in NATO to try and reshape the organization’s structure and discuss a “rebalancing” of US financing towards it.

Donald Trump said he would also aim to hold talks with Russia to seek common ground, possibly over Islamist extremism.

“Some say the Russians can’t be reasonable,” he said.

“I intend to find out.”

Donald Trump said China “respects strength, and by letting them take advantage of us economically like they are doing, we are losing all their respect”. He said he would seek to “fix our relations with China” but did not suggest how.

On US allies, he said: “The countries we defend must pay for the cost of this defense.

“If not, the US must be prepared to let these countries defend themselves. We have no choice.”

Speaking to the New York Times last month about the US-Japan relationship, Donald Trump said: “If we’re attacked, they do not have to come to our defense, if they’re attacked, we have to come totally to their defense. And that is a, that’s a real problem.”

Donald Trump once said he was his own best foreign policy adviser, but, in recent months, has expanded his backroom team. Some of his appointments have proved controversial.

His team is led by Republican Senator Jeff Sessions of Alabama.

Another member, retired Gen. Joseph Schmitz, resigned from the military in 2005 amid accusations of misconduct. However, Joseph Schmitz was never charged with wrongdoing.

Another adviser, Walid Phares, was criticized when he was named as part of Mitt Romney’s foreign policy team in 2011.

Muslim advocacy groups took issue with Walid Phares’s close ties to right-wing Christian militia groups during the Lebanese civil war.

Ahmet Davutoglu: “Turkey’s New Constitution Will Feature Principle of Secularism”

Diane A. Wade
-
0
Ahmet Davutoglu: “Turkey’s New Constitution Will Feature Principle of Secularism”

Turkey’s new constitution will feature the principle of secularism, Prime Minister Ahmet Davutoglu has announced.

Ahmet Davutoglu said Turkey’s secular and democratic character was “not up for debate”.

The prime minister’s comments came a day after parliamentary speaker Ismail Kahraman – a key member of the ruling AK party (AKP) – called for secularism to be taken out of the constitution.

Ismail Kahraman, who is overseeing the draft charter, said Turkey was a Muslim country and should have a religious constitution.

Turkey is a NATO member and aspires to join the European Union, which has traditionally regarded the country as a model of secular democracy in the Islamic world.

However, critics of the government fear the modern state’s secular foundations are being eroded.

Photo Reuters
Photo Reuters

Opposition parties also fear the new constitution could concentrate too much power in the hands of President Recep Tayyip Erdogan, who wants an executive presidency to replace the current parliamentary system.

In a speech on April 27, Ahmet Davutoglu said: “Secularism will feature in the new constitution we draft as a principle that guarantees citizens’ freedom of religion and faith and that ensures the state is an equal distance from all faith group.”

Ismail Kahraman said on April 25: “We are a Muslim country… Secularism cannot feature in the new constitution.”

He later said his comments were “personal views”.

Kemal Kilicdaroglu, the head of Turkey’s main CHP opposition party, condemned Ismail Kahraman’s comments, tweeting: “The chaos that reigns in the Middle East is the product of ways of thinking that, like you, make religion an instrument of politics.”

The AKP, which has Islamist roots, has been pushing to replace the existing constitution, which dates back to a 1980 military coup and does not promote any religion.

Over the past two years, the Turkish government has lifted bans on women and girls wearing headscarves in schools and civil service. It also limited alcohol sales and made efforts to ban mixed dorms at state universities.

The government has pledged that European standards on human rights will form the basis of the new text.

Recep Tayyip Erdogan’s AKP holds 317 of the 550 seats in parliament. To submit its draft constitution to a referendum, it would need 330 votes , so it will need to win over lawmakers from other parties.

Mitsubishi Scandal: Domestic Orders Halve on Fuel Tests Irregularities

Clyde K. Valle
-
0
Mitsubishi Scandal: Domestic Orders Halve on Fuel Tests Irregularities

Mitsubishi Motors’ domestic orders for its vehicles have halved since the Japanese automaker revealed last week that it had been falsifying fuel efficiency tests.

Company president Tetsuro Aikawa said the situation was “very serious” but said he had no plans to resign immediately.

Tetsuro Aikawa said he did not know if sales abroad had been affected yet.

Mitsubishi shares have more than halved since the scandal broke.

Investors are worried that Mitsubishi Motors – Japan’s sixth-largest automaker – will face fines and compensation claims.

Last week, Mitsubishi admitted that it had falsified fuel economy data for four “minicar” models sold only in Japan.Mitsubishi fuel test 2016

The inaccurate mileage tests involved 157,000 of its eK wagon and eK Space, and 468,000 Dayz and Dayz Roox vehicles produced for Nissan. All were sold in Japan only.

On April 26, Mitsubishi admitted to manipulating test data for the past 25 years, far longer than initially thought.

The company’s board has formed a panel to investigate the case, and US regulators have also launched an investigation into whether car models complied with their fuel economy rules.

At a news conference on April 27, Mitsubishi Motors said that because of uncertainty about the potential damage to its brand it could not make forecasts for the financial year 2016-2017.

However, Tetsuro Aikawa was able to announce better-than-expected results for the year ending in March 2016.

Mitsubishi Motors reported that its operating profit rose 1.8% to 138.4 billion yen ($1.2 billion) while revenue increased by 4% to 2.27 trillion yen.

Why Is CFD Trading So Popular?

Dana R
-
0
Why Is CFD Trading So Popular?

Just this week, broker Core Spreads launched a new affiliate program, letting partners earn a capped commission rate. Besides indicating that Core Spreads is doing fine, this shows us how popular and successful CFD trading has become in recent years.

Trading is still a gray area to many, and the benefits are even more so. Just as people are afraid of the unknown, many will be reluctant to place any cash in a declining market, or a market they know nothing about. CFD trading makes both these issues much easier to handle, and as such, could be right for a brand new investor, or learning trader.

So, if you’re considering joining the game, here are some of the main reasons why CFD trading is so utterly popular.

Make profit in any market

Success, Joy, Emotion, Profit, Successful, Innovative

Source

Gone are the days when you absolutely needed a rising market to make a decent profit. With CFD trading, you can make profit in a declining market by selling short that particular CFD. This kind of trading rewards strategy, critical thinking and a keen eye. It’s not potluck. It’s careful thought and planning.

The same goes for a booming market, too. You can make hefty sums of cash by buying that CFD. Of course, making profit in a rising market will always be easier than a declining one. But in CFD trading, it’s irrelevant. You can thrive in any scenario. Other forms of trading usually rely on a successful market, and only money can make money. You can now dispel that notion!

It’s convenient, and simple

File:Forex.jpg

Source

And that’s an understatement. If you’re already trading forex, it will be quite simple for you to trade a range of commodity CFDs on the same platform. The tools and software are largely the same and have similar functions. It’s not like CFD trading will feel absolutely alien to people who have traded in the past. It’s still an easy process.

Plus, it’s never been quicker and easier to get started with your trades. Most platforms are designed with this idea in mind, in order to aid usability. Many thoughts in the Plus500 review, for example, encompass this notion about that platform. Of course, if you’re new to trading, you still have a long way to go, but once you’ve learned it will be easy to jump between commodities.

Less ownership and commitment

Trading, Analysis, Forex, Chart, Charts

Source

There’s no fixed lot size when trading CFDs, so you have more options in terms of scale. Also, to begin a trade, you must only put down a small amount of the value of that total trade. You won’t need to account for the total cost. You’ll have more flexibility with your trades, and can be frugal where necessary.

Additionally, you aren’t required to own the commodity being traded. CFD traders aren’t at risk by taking ownership of any form of physical instrument. CFD is the representation of the commodity, if you will.

So, in short, CFD trading is a much more flexible option for those that desire it. It’s more secure, and carries less risk. Does that mean there’s less chance for greater profits? Maybe. But where certain trades can result in a heavy drop, CFD allows you to be more frugal, and more protected.

Paris Attacks: Salah Abdeslam Extradited to France

Roy Siemens
-
0
Paris Attacks: Salah Abdeslam Extradited to France

Paris attacks suspect Salah Abdeslam has been extradited from Belgium to face trial in France.

Salah Abdeslam, 26, was wounded and arrested in a dramatic raid in Brussels on March 18 after four months on the run.

The French national was born in Brussels and lived there before the Paris attacks.

Salah Abdeslam would be held in solitary confinement in a maximum-security prison in the Paris area, said Justice Minister Jean-Jacques Urvoas.

The co-ordinated attacks carried out by so-called Islamic State in Paris on November 13, 2015, claimed 130 lives and left dozens more severely wounded.Salah Abdeslam charged with terrorism

Belgium’s federal prosecutor said Salah Abdeslam had been “surrendered to the French authorities this morning [in execution of the European Arrest Warrant issued by France on March 19, 2016]”. He was then formally placed under arrest.

Although Salah Abdeslam was initially held at a prison in Bruges, he had most recently been in custody at a high-security jail at Beveren, near Antwerp.

He is charged in France with participation in terrorist murder and the activities of a terrorist organization.

He was also indicted by Belgian authorities last week over a shoot-out in the Forest area of Brussels in which four police were wounded, three days before he was arrested.

Earlier, French criminal lawyer Frank Berton told French media that he would be taking on Salah Abdeslam’s defence in France following a two-and-a-half-hour meeting between the two last Friday at Beveren.

Frank Berton BFMTV he hoped the man would be judged “for what he has done and not what he has not done… not for what he represents because he is the last survivor”. Most of the Paris attackers are now dead.

He described Salah Abdeslam as “falling apart because of the drama that unfolded in France” and said he wanted to explain his actions.

Frank Berton said he was aware of the risks in representing his client, but insisted “he has the right to a fair trial”.

Salah Abdeslam’s Belgian lawyer, Sven Mary, has spoken of the dangers he faced in representing him – telling France’s Liberation website that he was threatened, assaulted physically and verbally in his office, and that on occasion police had escorted his daughters to school.

What To Do If Your Small Business Is Affected By Disaster

Dana R
-
0
What To Do If Your Small Business Is Affected By Disaster

We live in turbulent times, not least due to extreme weather conditions. And, the consequences of natural disasters can be severe for small businesses. In today’s guide, we’re going to take a look at how you should react if your small business suffers from a natural disaster. Read on to find out more.

business

https://flic.kr/p/dpZfHv

Preparation is essential

Do you have insurance protecting you from natural disasters? In some states, it is a necessity, but if you aren’t located in one of those areas, it’s not something you should avoid. Insurance means you get the cover and protection you need in the result of an extreme weather event. Nobody – not even meteorologists – can give you a 100% assurance nothing will happen where you work. Get the protection in place, and you will not have to shoulder the burden of clearing up alone.

Contact all employees

First of all, you will need to contact all your employees. Their safety is your responsibility, and you have to find out if there are any injuries in your workplace due to the event. You should also start to take names and contact details of everyone that is still available to work so that you can plan your business in the days ahead. Don’t forget that many employees will have family and friends suffering from the disaster, so may not be able to focus on their work activities. It’s important to weigh up each employee on an individual basis. Some might need to stay away while others can feel undervalued if they aren’t working.

Cleaning up

When the dust settles, there’s the matter of cleaning up after the event. Of course, how you approach this depends largely on the event itself. In an earthquake scenario, things can be changed forever – and you might be looking at a move elsewhere. However, some disasters, such as floods, are recoverable. Get hold of a disaster cleanup company to help you get everything back in order.

Identify critical activities

The next step is to start getting your business back on track. Make sure you outline all the business critical activities that need doing. The idea here is to keep your business running as normally as possible. You may need to find temporary accommodation – but if you have insurance, this might be already in place. In a worst-case scenario, you can ask your employees to work from home if suitable.

Find funding

Even with insurance, you might struggle to afford to recover your business. The good news is that there are funds available. Contact the Small Business Administration, who can provide loans for natural disasters of up to $2 million. Interest rates tend to be competitive, so it’s best you start your search for funding there.

IT recovery

Another important aspect of your business lies in your data. It is essential that you contact a disaster data recovery firm who will – hopefully – be able to save your vital information. One good way of preparing for the worst is to start using cloud-based services such as Dropbox and Google Drive.

We hope this has helped. The main thing to remember is that your business can survive the biggest natural disaster. We wish you all the best.

Donald Trump Wins in Connecticut, Delaware, Maryland, Pennsylvania and Rhode Island

Diane A. Wade
-
0
Donald Trump Wins in Connecticut, Delaware, Maryland, Pennsylvania and Rhode Island

Republican presidential hopeful Donald Trump has won primaries in all five states that voted on April 26, while Democrat Hillary Clinton triumphed in four out of five.

Donald Trump called himself the Republican “presumptive nominee” after victories in Connecticut, Delaware, Maryland, Pennsylvania and Rhode Island.

The results bring the New York businessman closer to the number of delegates he needs before the party’s national convention in July.

For the Democrats, Hillary Clinton was denied a clean sweep by Bernie Sanders.

Vermont Senator Bernie Sanders won in Rhode Island and vowed to fight to the end of the primaries process.

Speaking at the Philadelphia Convention Center after securing the four other states, Hillary Clinton said her campaign was setting “bold, progressive goals” to improve lives in the US.

Photo Getty Images
Photo Getty Images

“We believe in the goodness of our people and the greatness of our nation,” she said.

After his sweep of the five states, Donald Trump said of the battle for the Republican nomination: “It’s over. As far as I’m concerned, it’s over.”

He told supporters in New York he would not moderate his policies if elected president.

Donald Trump said: “You know I went to the best schools. I’m like a very smart person. I’m going to represent our country with dignity and very well.

“But I don’t really want to change my personality. You know, it got me here.”

After their victories, Donald Trump and Hillary Clinton turned their fire on each other.

Donald Trump said his Democratic rival’s only advantage in the presidential race was being a woman.

“Frankly, if Hillary Clinton were a man, I don’t think she’d get 5% of the vote,” he said.

Hillary Clinton hit back at his accusation that she was playing the “woman card”.

“Well, if fighting for women’s healthcare and paid family leave and equal pay is playing the woman card, then deal me in,” she told cheering supporters in Philadelphia.

Donald Trump’s rivals, Ted Cruz and John Kasich, have already shifted their attention to forthcoming states.

As part of a new campaigning pact, John Kasich will give Ted Cruz a “clear path” to tackle Donald Trump in Indiana on May 3, with Cruz reciprocating for Kasich in the Oregon and New Mexico primaries.

Donald Trump has condemned their pact as a sign of weakness and desperation, and another sign of the GOP colluding against him.

Neither John Kasich nor Ted Cruz has a chance of securing the Republican nomination outright. The hope of a contested convention this July in Cleveland is keeping them in the race.

This scenario would see party delegates – Republican officials and activists – choose the nominee.

Analysts believe that Indiana, with its 57 delegates, will be crucial if Donald Trump’s rivals are to stop him securing the 1,237 he needs to win outright.

Opinion polls suggest Donald Trump has 39% support there, Ted Cruz 33% and John Kasich 19%.

Up to $800 Million ISIS Cash Destroyed in Airstrikes

Roy Siemens
-
0
Up to $800 Million ISIS Cash Destroyed in Airstrikes

Between $500 million and $800 million in cash from ISIS funds has been destroyed in airstrikes, a US military official says.

In a briefing to reporters, Maj. Gen. Peter Gersten, who is based in Baghdad, said the US had repeatedly targeted stores of the group’s funds.

The blow to ISIS’ financing has contributed to a 90% jump in defections and a drop in new arrivals, he said.

In 2014, the US Treasury called ISIS “the best-funded terrorist organization” it had encountered.ISIS captures Maheen in Syria

Maj. Gen. Peter Gersten, the deputy commander for operations and intelligence for the US-led operation against ISIS, said under 20 air strikes targeting the group’s stores of money had been conducted.

He did not specify how the US knew how much money had been destroyed.

In one case, the general said, an estimated $150 million was destroyed at a house in Mosul, Iraq.

Forces fighting ISIS received intelligence indicating in which room of the house money was stored. The room was then bombed from the air, he said.

While it was difficult to know precisely how much money had been destroyed in total, estimates put the figure at between $500 million and $800 million, Maj. Gen. Gersten said.

ISIS’ exact wealth is not known, but, after seizing oil fields and setting taxes, it approved a budget of $2 billion and predicted a $250 million surplus in 2015.

Since then, however, ISIS has lost territory, and its oilfields have been targeted in air strikes by the US-led coalition.

US intelligence indicated ISIS’ cash troubles had led it to start selling vehicles to make money.

The number of those arriving to fight for Islamic State in Iraq and Syria had fallen to about 200 a month, Gen. Peter Gersten said, down from a peak of between 1,500 and 2,000 per month a year ago.

In February, the White House said it believed there were some 25,000 people fighting for ISIS, down from close to 31,500 in 2015.

https://www.youtube.com/watch?v=CDzXMLu7Iso

Venezuela Imposes Two-Day Working Week for Public Sector

Diane A. Wade
-
0
Venezuela Imposes Two-Day Working Week for Public Sector

Venezuela has announced it is imposing a two-day working week for public sector workers as a temporary measure to help it overcome a serious energy crisis.

According to Vice-President Aristobulo Isturiz, civil servants should turn up for work only on Mondays and Tuesdays until the crisis was over.

The South American country is facing a major drought, which has dramatically reduced water levels at its main hydroelectric dam.

However, the opposition has accused the government of mismanaging the crisis.

The measures announced on national television by Aristobulo Isturiz affect two million public sector workers.

In the TV address, the vice-president said: “There will be no work in the public sector on Wednesdays, Thursdays and Fridays, except for fundamental and necessary tasks.”Venezuela food shortage

President Nicolas Maduro had already given most of Venezuela’s 2.8 million state employees Fridays off during April and May, to cut down on electricity consumption.

He said Venezuela had been badly hit by the El Nino weather phenomenon and would return to normal when it started raining again.

“We are requesting international help, technical and financial aid to help revert the situation,” he said.

“We are managing the situation in the best possible way while we wait for the rains to return.”

“Several countries in the region have been affected by the drought, caused by El Nino. But Venezuela has the highest domestic consumption of energy.”

Venezuela’s government has already adopted a number of other measures to try to deal with the crisis. In February, shopping centers were told to reduce their opening hours and generate their own energy.

Earlier this week, the government put the clocks forward by half an hour to reduce demand for electricity in the early evening.

Last week, it announced it was introducing power cuts for four hours a day.

The power shortages have deepened Venezuela’s serious economic crisis.

Many businessmen and opposition politicians blame the energy crisis and shortages of basic goods on government economic mismanagement.

They say tough currency controls introduced in 2003 by the late president, Hugo Chavez, have only made this worse.

Meanwhile, Venezuela’s economy has also been hit by a sharp fall in the price of its main export, oil.

North Korea Workers Party Holds Its First Congress in 36 Years

Diane A. Wade
-
0
North Korea Workers Party Holds Its First Congress in 36 Years

North Korea has announced its ruling Workers Party will hold its first congress in 36 years in May.

The North Korean Workers Party congress, which will take place in Pyongyang from May 6, will be only the seventh in the party’s history and the first under leader Kim Jong-un.

The gathering will be closely watched for signs of major policy shifts, movement among senior officials or comment on North Korea’s nuclear program.

The announcement comes as North Korea is believed to be preparing a fifth nuclear test.

North Korea has often timed its controversial tests to coincide with big political occasions.North Korea jams GPS signals

Its fourth test, in January, was followed by the launch of a satellite.

Both were violations of existing sanctions and resulted in the UN imposing further measures limiting trade and contact with North Korea.

The last North Korean congress was in October 1980, before the current leader Kim Jong-un was born.

The congress lasted four days and among other issues saw Kim Jong-il formally named as the intended successor to then leader Kim Il-sung.

Expectation has been growing for months that the leadership was about to announce the seventh congress.

The statement from North Korea’s KCNA news agency on April 27 gave no details of the event, and did not specify how long it would last.

However, it is widely expected that Kim Jong-un will use the party’s congress to both reinforce his role as Supreme Leader and to push his agenda of economic development coupled with nuclear progress.

South Korean President Park Geun-hye said on April 26 that North Korea had finished preparations for its fifth nuclear test and could carry it out it any time.

North Korea also claimed last week to have used “cold launch” technology to fire a missile from a submarine, while South Korean officials say it also appears to be preparing another test launch of its medium-range Musudan ballistic missile.

Prince Death: Sister Tyka Nelson Reveals Star Left NO Will Behind

Sonia Pantiss
-
0
Prince Death: Sister Tyka Nelson Reveals Star Left NO Will Behind

Prince’s sister, Tyka Nelson, has revealed in court documents that her famous brother did not leave a will.

The documents, filed in state court in Minnesota, show Tyka Nelson has petitioned for a special administrator to oversee Prince’s estate.

Prince Nelson Rogers was found dead in an elevator at his Paisley Park Studios compound in a suburb of Minnesota on April 21 at the age of 57.

The size of Prince’s fortune is unclear but includes $27 million in property.

Photo Getty Images
Photo Getty Images

Tyka Nelson is Prince’s only surviving full sibling and stated in the papers that immediate action was necessary to manage her brother’s business interests.

Prince is on course to dominate charts this week, as mourning fans rush to buy his music, while the Hollywood Reporter claimed over three million of his songs and albums had been bought in the US since his death.

A private memorial service was held for Prince on April 23, attended by about 20 of his closest friends and family.

Following the service, drummer and frequent Prince’s collaborator Sheila E confirmed there were plans to turn Paisley Park into a museum, akin to Elvis’s Graceland.

https://www.youtube.com/watch?v=NCue3AUwdkw

Mitsubishi Admits to Falsifying Fuel Consumption Tests since 1991

Clyde K. Valle
-
0
Mitsubishi Admits to Falsifying Fuel Consumption Tests since 1991

Japanese automaker Mitsubishi Motors has admitted to rigging some fuel consumption tests since 1991.

The admission follows last week’s revelation that Mitsubishi had falsified fuel economy data for more than 600,000 vehicles sold in Japan.

Mitsubishi Motors VP Ryugo Nakao said at a press conference in Tokyo on April 26: “For the domestic market, we have been using that method since 1991.”

The number of models affected was not yet known, Ryugo Nakao added.

The company’s president, Tetsuro Aikawa, said an inquiry was continuing, suggesting that more irregularities could be found.

Photo Getty Images
Photo Getty Images

“We don’t know the whole picture and we are in the process of trying to determine that. I feel a great responsibility,” he said.

Mitsubishi hares fell a further 10% in Tokyo on April 26, bringing the slide since the scandal erupted to almost 50%.

Tetsuro Aikawa said he did not know why employees resorted to falsifying fuel economy tests to make mileage figures seem better.

The automaker had repeatedly promised to come clean after a huge scandal 15 years ago that involved a systematic cover-up of vehicle defects.

The inaccurate mileage tests revealed last week involved 157,000 of its eK wagon and eK Space, and 468,000 Dayz and Dayz Roox vehicles produced for Nissan. All were sold in Japan only.

The main attraction of the “minicars”, which have tiny 600cc engines – not much bigger than a large motorcycle – is their frugal fuel consumption and their tax breaks.

Mileage fraud breaks Japan’s fuel efficiency laws and possible penalties were unclear due to the uncertainties about the outcome of an investigation, the transport ministry said.

Mitsubishi has set up a panel of three external lawyers report on the scandal within three months.

Production and sales of all the models in question have been halted.

Chernobyl Disaster: Ukraine Marks 30th Anniversary of Worst Nuclear Accident in History

James J. Williams
-
0

Commemoration ceremonies are being held in Ukraine to mark the 30th anniversary of the nuclear disaster in Chernobyl.

In the early hours of April 26, 1986, sirens were sounded at the same moment as the first explosion at the reactor.

The meltdown at the plant remains the worst nuclear disaster in history.

An uncontrolled reaction blew the roof off, spewing out a cloud of radioactive material which drifted across Ukraine’s borders, into Russia, Belarus and across a swathe of northern Europe.

The relatives of those who died attended candle-lit vigils at several churches, including in the capital Kiev and in Slavutych, a town built to re-house workers who lived near the nuclear plant.

Some former residents returned to the area, now derelict and overgrown, ahead of the anniversary. They lived in Pripyat, the town inhabited by Chernobyl workers which was abandoned in the wake of the accident.

Levels of radioactivity remain high in the surrounding area. A charity, Bridges to Belarus, is warning that a number of babies in a region close to Ukraine’s border are still being born with serious deformities, while an unusually high rate of people have rare forms of cancer.

Donors around the world pledged €87.5 million ($99 million) on April 25 towards a new underground nuclear waste facility in the region. Ukraine will need to commit a further €10 million in order to complete the new storage site.

Work began in 2010 on a 25,000-tonne, €2.1 billion sarcophagus to seal the uranium left in the damaged reactor, thought to be about 200 tonnes.

Experts fear that if parts of the aging reactor collapse, further radioactive material could be spewed into the atmosphere.

The number of people killed by the Chernobyl disaster remains disputed. A report in 2005 by the UN-backed Chernobyl Forum concluded that fewer than 50 people died as a result of exposure to radiation, most of them workers killed immediately after the disaster, but some survived until as late as 2004.

The forum estimated up to 9,000 people could eventually die from radiation exposure, although Greenpeace claims the figure could be as high as 93,000.

Australian Camper Attacked by Crocodile inside His Tent

Nancy Clayson
-
0
Australian Camper Attacked by Crocodile inside His Tent

An Australian camper has been attacked by a crocodile inside his tent.

Peter Rowsell, 19, described how he woke up to find the crocodile had entered his tent and was biting his foot.

The young man was with his family on the banks of Palm Creek in the Northern Territory on April 25 when the attack took place, local media said.

Peter Rowsell said something was “shaking” his right foot, describing the animal as “three to four meters” long.

The man is believed to have been killed by a crocodile in the Northern Territory while swimming in Mary River during a birthday party
The man is believed to have been killed by a crocodile in the Northern Territory while swimming in Mary River during a birthday party

The man managed to fight off the crocodile, which slid back into the water.

His injuries were not life threatening.

Peter Rowsell’s sister drove him to the nearest hospital in his hometown of Katherine, which was about two hours away, where he was treated for the bite. He is expected to be released soon.

The mayor of Katherine told reporters there had been crocodile sightings near popular swimming spots recently, and called for a cull.

“We do have to live with crocs because this is their environment as well, but we don’t need to live with them dangerously,” she was quoted by News.com.au as saying.

Fullscreen Launches Its Own Subscription Video Platform to Rival YouTube Red

Nancy Clayson
-
0
Fullscreen Launches Its Own Subscription Video Platform to Rival YouTube Red

Fullscreen has launched its own subscription video platform to rival YouTube’s offering.

Until now, the online talent company has worked on free platforms such as Instagram, Snapchat and YouTube.

However, Fullscreen said the economics of producing premium video on ad-supported platforms “did not work out”.

One industry analyst questioned whether Fullscreen had the brand recognition necessary to attract a big audience.

Fullscreen describes itself as a “modern media company”, part talent agency, part content producer. It has a roster of 75,000 “partners”, predominantly recruited through YouTube.Fullscreen launches SVOD

It has traditionally made money by brokering advertising deals for its talent, providing support to smaller video-makers in exchange for a cut of their ad revenue, and by selling tour tickets and merchandise for its biggest stars.

However, Fullscreen said it had needed to create its own subscription video platform to let video-makers “fulfill their artistic ambition”.

Consumers are increasingly rejecting expensive cable TV packages and instead subscribing to individual streaming services, known as over-the-top services.

In October 2015, Google launched its own bid to capture a new market with a premium video service called YouTube Red.

Its service features prominent YouTubers in long-form productions, although Google has not yet revealed how many paid members it has attracted.

Undercutting Google’s $9.99 offering, Fullscreen’s subscription service will cost $4.99 a month, with programs viewable on a standalone app and website.

Fullscreen said it would bolster its offer of online originals with traditional programs from TV and film studios.

Wary Investors Worry about ‘Robo-Advice’

Clyde K. Valle
-
0
Wary Investors Worry about ‘Robo-Advice’

Since the emergence of computers in the 20th century, advances in technology have played a major role in changing the way we do things, including the way we make money.

 

These days, we have what investors call Robo-Advisers. Do not fret about the name; there is nothing metallic about these advisers. These are basically software programs created to make investment decisions for investors. How cool is that-knowing that you now do not have to pay expensive fees for investment advisory?

 

Robo-Advisers are only beginning to gain popularity in the UK, but in the US, it’s a common term. Robo-Advisers work by providing investment advice to investors based on their individual profiles. Tired of getting that template advice from your investment manager at a premium? Robo-Advisers are developed using complex algorithms that take into consideration various investing factors which may affect an investor’s decision.Robo advice

 

Units Established for Robo-Advice Firms

 

Last year, UK’s financial regulators discussed in depth about the subject of Robo-Advisers and the FCA (Financial Conduct Authority) recently revealed that it will set up a specialised unit for Robo-Advice firms.

 

This move was confirmed in the regulator’s recent annual business plan; it revealed that it had accepted recommendation by the FAMR (Financial Advice Market Review) to develop a specialised unit for firms interested in launching Robo-Advice platforms.

 

Since last year several investment advice firms have launched Robo-Advice platforms while banks are also believed to be showing real interest in Robo-Advisers. This paradigm shift has not escaped criticism from wary investors as some worry about the risks involved in using such a platform to cater for their investment needs.

 

These fears were recently echoed by FCA Chair John Griffith when he said that the regulator was fully aware of the risks and potential rewards of Robo-Advisers.

 

‘Technology can drive down the cost of accessing products and services, and can push up the quality of service,” said Griffith, commenting on FCA’s recent annual business plan. ‘But it can present challenges to markets and regulators alike, including resilience, cyber-crime and financial exclusion.’

 

Not a Replacement for Comprehensive Investment Advice

 

This also implies that while costs are bound to be lower on Robo-Advice platforms, it would be premature to assume that Robo-Advisers will replace traditional investment advisers in their entirety.

 

As such, investment advisory and management firms like Fisher Investments UK, which primarily deal with wealthy investors, will still be very important because they offer professional advice that cannot be put in an algorithm.

 

This can be in the form of extended experience in the market as well as varying opinions from the advisory team. Therefore, Robo-Advisers can do some of the things that traditional investment advisers do, but they certainly cannot do everything.

 

With Robo-Advice, an investor fills in to the platform certain details about his/her investment profile including age, investment income, annual income, and risk appetite, among others from which the system draws conclusion on the best investments for the individual. As such, you could say that Robo-Advice works pretty much like WebMD, where patients input their health/injury profile to receive guidance on potential treatments. However, you never really get a prescription.

 

The same thing applies to Robo-Advice, the information you provide is used to generate leads on investments opportunities, but it never really invests on your behalf.

 

Conclusion

 

In summary, there are genuine concerns about the reliance on Robo-Advisers, but given the fact that these platforms are operated by fully regulated firms, it means that investors can at least be comfortable with their authenticity.

 

However, it is also good to note that Robo-Advice cannot be taken on face value and then directly implemented in an investment portfolio. Investors need to take into consideration all factors that may affect their investments decisions including those that cannot be put in a Robo-Adviser algorithm.

Japan Stock Market: Sony and Mistubishi Motors Shares Drop in April 25 Trade

Clyde K. Valle
-
0
Japan Stock Market: Sony and Mistubishi Motors Shares Drop in April 25 Trade

Sony closed down 6% in April 25 trade after the company announced at the end of the last week that it would postpone its earnings release date to next month.

The delay was due to uncertainty over the supply chain from two earthquakes which recently hit southwest Japan. Sony was initially scheduled to release its earnings this week.

In the broader Japanese market the benchmark Nikkei 225 closed 0.8% down at 17,439.30 points.

Investors continued to selloff shares of Mitsubishi Motors, which closed down 4.8% on April 25.Mitsubishi fuel test 2016

Last week, Mitsubishi Motors shares plunged by more than 40% over three days, after the car maker admitted to rigging fuel efficiency tests.

The Japanese automaker is expected to announce annual results on April 27, but media reports have suggested it may skip its earnings forecast – which was originally scheduled for the same day.

Traders in Japan were also cautious ahead of an important Bank of Japan (BoJ) meeting where the lender might decide on more monetary easing.

Japan’s central bank will on April 28 decide on its interest rate which currently is negative as an attempt to spur growth.

In Korea, the Kospi index finished the day flat at 2,014.55 points.

Hong Kong’s Hang Seng closed lower by 0.8% to 21,304.44, while the mainland’s Shanghai Composite also closed lower by 0.42% to 2,946.67.

Markets in Australia and New Zealand were closed on April 25 for the Anzac Day holiday.

There is a long list of companies reporting quarterly earnings this week.

In the US they include tech giants Apple and Facebook, online retailer Amazon, and Dunkin Donuts.

From the auto sector, Ford Motor is due to report its quarterly results.

Over in Asia, South Korea’s Hyundai as well as Japan’s Honda Motor and Mazda Motor update investors on their earnings.

Costa Rica: The Ultimate Guide

Nancy Clayson
-
0
Costa Rica: The Ultimate Guide

Rising from the depths of the lush forests of Central America, Costa Rica is at the top of the list of any serious traveler. An amazing experience anyone can enjoy, this destination will be a holiday escape like no other. With endless sights, sounds and smells, appreciating the beauty of Costa Rica will come natural, but to get the best action, here are a couple of tips once you venture into this realm of wonder.

Costa Rica Guide

Planning Your Trip

When visiting Costa Rica one of the first things you need to do is plan ahead.

There are many awesome Costa Rica Tours you can choose from, depending on what kind of experience you’re looking for.

Do the necessary research in advance, so you know what to expect once you arrive. One of the deciding factors that might influence your visit is the weather. The difference between verano (dry season – December to April) and invierno (rainy season – May to November) is a real game changer for any trip to Costa Rica. Just to be on the safe side, your bag should always contain comfortable clothes, shoes with a warmer alternative, sunblock, and mosquito repellant. And to help you before and during your trip, load up on travel tools on your phone.

Costa Rica Guide

The Right Accommodations

Costa Rica is a tourist hot spot, so it’s no wonder that hotels won’t be hard to come by. Most of what you think of as classical hotels and resorts are situated in larger cities and towns such as San Jose, Cartago, Santa Cruz, Liberia and Limon. They provide tourists with both affordable and luxury accommodations to choose from. However, if you are travelling with family or friends for a longer period, and you want to balance out price and space for everyone, you should consider checking out property rentals in Costa Rica. Away from the towns in the more remote regions, you can seek out good accommodations, but services like Wi-Fi might be hard to get a hold of.

Costa Rica Guide

Moving Through Costa Rica

Getting around in Costa Rica is easy, since the exchange rate is great, and you can get amazing bus deals for as low as 3$ per person. Due to its relatively small size, all of Costa Rica can be easily accessed by road, although the environment defined the way they were built, so some trips may take longer than others. However, travelling in larger settlements on foot may prove to be challenging, as pedestrians don’t always have the right-of-way.

Costa Rica Guide

Health and Safety Tips

As a traveler, it is also good to know that Costa Rica has quality health standards, with excellent hospitals in all the major tourist destinations. It is also good to note that most of the taps in the country provide safe drinking water, so you can save up on the bottled stuff. While SIM prepaid cards are available throughout the country with great travel deals always on offer.

Costa Rica Guide

Flavors of Costa Rica

When in Costa Rica, always go for local food and ingredients. Owing to its tropical, rainforest location, the markets are an amazement of color and smell. Fruit and veg are available in enormous quantities, and if you have a chance try local varieties such as anona, grandilla, guava and rose-apples. As anywhere around the world, when searching for the best food in Costa Rica look towards the street vendors, and small tucked away dinners. Each region has its own twist on the classics, and apart from the Tamales and Empanadas, be sure to try the national dish Casado, Ceviche, Gallo Pinto, and Sopa de Mariscos.

Costa Rica Guide

Must-Sees

Hidden within the rainforests of Costa Rica, are of course, the reasons why this country should be at the top of your vacation list. For nature fanatics and especially bird watchers, one of the most beautiful forests of the world – the Monteverde Cloud Forest, is a must see. Closer to the water, Tamarindo’s world famous surf is a hot spot for water sport junkies, while Manuel Antonia National Park is an ideal family beach holiday vacation paradise. Finally, hidden among the inland volcanoes, is the surreal La Fortuna Waterfall, and the hike of a lifetime.

Costa Rica Guide

Original Costa Rica Tours

The appeal of Costa Rica is also highlighted through the unique travel tour offers. Exploring the depths of the rainforest and its wildlife, you might want to consider the Canopy Tour. High above the treetops, you will zip line, like a spider monkey, from one tree platform to the next, all the while witnessing some amazing vistas of endless forest. If you want to be more down to earth, but still seeking adventure, White Water Rafting will be your tour of choice. One of the most thrilling ways to encounter Costa Rica, you will zig-zag through the vast meandering river network, such as the Celeste River, going on a ride of a lifetime.

Costa Rica Guide

There you have it, the dos and don’ts of Costa Rica that will make the entire journey an amazing experience. Now, all that is left is to pack your bags, and make this paradise your next vacation destination. Vaya con Dios!

White House 2016: Ted Cruz and John Kasich Join Forces against Donald Trump

Diane A. Wade
-
0
White House 2016: Ted Cruz and John Kasich Join Forces against Donald Trump

Republican presidential hopefuls Ted Cruz and John Kasich have announced they will now co-ordinate strategies against rival Donald Trump.

Ted Cruz has said he will cut campaigning in the Oregon and New Mexico primaries to help John Kasich, while the latter will give Ted Cruz a “clear path” in Indiana.

Donald Trump responded to his rivals saying they were “totally desperate” and “mathematically dead”.

The New York businessman has a clear lead in delegates but may still fall short of the 1,237 needed to win outright.

If Donald Trump does not reach the target, the vote will go to a contested convention – where a different nominee may emerge through negotiations among party figures.

John Kasich and Ted Cruz announced their move in near-simultaneous statements.

Photo AP
Photo AP

Ted Cruz’s campaign manager, Jeff Roe, said: “Having Donald Trump at the top of the ticket in November would be a sure disaster for Republicans. Not only would Trump get blown out by [Hillary] Clinton or [Bernie] Sanders, but having him as our nominee would set the party back a generation.”

John Weaver, John Kasich’s strategist, said in a statement released on the candidate’s site: “Our goal is to have an open convention in Cleveland, where we are confident a candidate capable of uniting the party and winning in November will emerge as the nominee.”

Some Republican strategists have been urging this deal for weeks but analysts say it may now have come too late to stop Donald Trump.

In response, Donald Trump tweeted: “Wow, just announced that Lyin’ Ted and Kasich are going to collude in order to keep me from getting the Republican nomination. DESPERATION!

“Lyin’ Ted and Kasich are mathematically dead and totally desperate. Their donors & special interest groups are not happy with them. Sad!”

Donald Trump has frequently said the GOP nomination process is “rigged” to favor establishment figures against him.

However, the Republican frontrunner did last week promise to change his image, in a closed-door meeting with GOP leaders.

The Indiana primary is on May 3, Oregon is on May 17, with New Mexico on June 7.

However, before those comes voting in five north-eastern states where Donald Trump is heavily favored.

Maryland, Rhode Island, Connecticut, Pennsylvania and Delaware all vote on April 26.

Campaigning in Maryland on April 24, Donald Trump said he was confident of avoiding a contested convention.

On the Democratic side, Bernie Sanders spoke to a rally of 14,000 supporters in New Haven, Connecticut, on April 24, again accusing rival Hillary Clinton of earning money through “speeches behind closed doors on Wall Street”.

Hillary Clinton retains a clear lead in delegates and will hope the north-eastern state votes will effectively put an end to Bernie Sanders’ dogged campaign.

Bernie Sanders and Hillary Clinton have traded increasingly hostile remarks in recent weeks.

However, Democratic National Committee chairwoman Debbie Wasserman Schultz said: “Regardless of the intensity of what’s played out here… we are going to be unified.”

Barack Obama Rejects North Korea Nuclear Proposal

Roy Siemens
-
0
Barack Obama Rejects North Korea Nuclear Proposal

President Barack Obama has rejected North Korea’s proposal to halt nuclear tests if the US ceases its annual military exercises with South Korea.

On April 24, Barack Obama told reporters that the US did not take such a proposal seriously and that Pyongyang would “have to do better than that”.

North Korean foreign minister Ri Su-yong made the offer in a rare interview.

Annual military drills conducted by the US and South Korea routinely inflames tensions with North Korea.North Korea Musudan missile

Ri Su-yong’s comments came as North Korea said it fired a ballistic missile from a submarine off its eastern coast.

The UN condemned the test, which it called a “serious violation” of past resolutions aimed at curbing North Korea’s nuclear ambitions.

International sanctions have been stepped up in the wake of several controversial nuclear and missile tests by North Korea.

The latest allegedly took place last week, with North Korea claiming to have used “cold launch” technology to fire a missile from a submarine, where it is expelled using gas pressure.

North Korea also conducted its fourth nuclear test with a hydrogen bomb in January sparking worldwide condemnation, and claimed last month that it has developed nuclear warheads small enough to fit on ballistic missiles, though experts have disputed such claims.

Analysts believe that North Korea may be gearing up for a fifth nuclear test as a show of strength ahead of the Workers’ Party Congress, the first since 1980.

ISIS Fight: US to Send 250 More Troops to Syria

Roy Siemens
-
0
ISIS Fight: US to Send 250 More Troops to Syria

The US will send 250 additional military personnel to Syria to support local militias in the fight against ISIS, officials have said.

The goal, they say, is to encourage more Sunni Arabs to join Kurdish fighters in north-eastern Syria.

The new deployment will bring to 300 the number of US forces in non-combat roles in Syria.

Most of the additional personnel will be special operation forces, the AP reports. The group will also include medical and logistical troops, it adds.

A formal announcement is expected from President Barack Obama during his visit to Hannover on April 25, where he will discuss Syria and other foreign policy issues with leaders of the UK, Germany, France and Italy.

Barack Obama has resisted calls to send US troops into Syria, where a five-year-old conflict has killed more than 250,000 people and displaced some 11 million others.Syrian rebels to succeed ISISisis

Of those, four million have fled abroad, including growing numbers who are making the dangerous journey to Europe.

The crisis has put pressure on leaders there, who are struggling to halt a massive influx of migrants and refugees.

Speaking alongside Barack Obama, German Chancellor Angela Merkel on April 24 urged warring parties to set up safe zones in Syria where refugees would be protected within the country.

Angela Merkel expressed hope that such a plan might eventually be agreed at peace talks taking place in Geneva.

Barack Obama, however, said it would be “very difficult” for those zones to work without a large military commitment.

ISIS has lost parts of the territory it once controlled in Syria. Most recently, they were pushed back by Russian-backed Syrian forces from the strategic city of Palmyra.

The group has also had significant setbacks in Iraq, including the loss of Ramadi, the capital of Anbar province.

The US has led a coalition against the militant group in both Syria and Iraq.

https://www.youtube.com/watch?v=7WHJYfgH7vI

Brazil Repatriates $125 Million of Dirty Money

Clyde K. Valle
-
0
Brazil Repatriates $125 Million of Dirty Money

Brazil has recovered $125 million siphoned off to foreign bank accounts by corrupt officials, politicians and businessmen.

The record figure recovered in 2015 is eight times more than what was repatriated over the previous decade, the Justice Ministry has reportedly said.

Officials say their policy of negotiating plea bargains with suspects has helped them recover assets.

Much of the money had been diverted from the state oil company Petrobras.Petrobras job cut 2016

Dozens of Brazilian executives and politicians have been arrested or are under investigation on suspicion of overcharging contracts with Petrobras as part of an inquiry known as Operation Car Wash.

According to authorities, part of the diverted money had been used to pay for bribes and electoral campaigns.

It is believed the scheme had cost Petrobras $2 billion.

By contrast, between 2005 and 2014, Brazilian officials managed to recover $15 million, local newspaper Folha de S.Paulo reported.

From the amount repatriated in 2015, $95 million was linked to the Car Wash investigation.

The money had been diverted to Switzerland and returned to Brazil, the report said, adding that most of it was expected to be returned to Petrobras.

1...263264265...1,244Page 264 of 1,244