Sunday, March 4, 2018

Russians pressured to attend Putin’s star-studded election rally - Guardian

Russians pressured to attend Putin’s star-studded election rally
Some were paid to attend, as part of apparent bid to show broad support for the president

Marc Bennetts in Moscow

Sun 4 Mar 2018 21.15 AEDT Last modified on Sun 4 Mar 2018 23.24 AEDT

Vladimir Putin addresses a rally at the Luzhniki Stadium
Vladimir Putin addresses a rally at the Luzhniki Stadium ahead of the Russian presidential election on 18 March. Photograph: Anadolu Agency/Getty Images
Vladimir Putin, flanked by cheering supporters, strode on to a stage in the centre of Moscow’s colossal Luzhniki Stadium and urged a crowd of tens of thousands of flag-waving Russians to join him in building a bright and joyful future for the country’s children.

“Our ancestors lived here, we live here, and this is where our children and grandchildren will live,” Putin said on Saturday afternoon, at what was his sole campaign rally ahead of this month’s Russian presidential elections. “And we will do everything to make them happy!”

Standing beside Putin were celebrities and sports stars, including members of Russia’s men’s ice hockey team fresh from their triumph at the Winter Olympics. At Putin’s bidding, they burst into a rendition of Russia’s national anthem. Police said 80,000 people were present, with another 50,000 watching on big screens outside the stadium.

It was, on the face of it, a perfect demonstration of popular support for Putin, who is all but certain to secure another six-year term of office when Russians go to the polls on 18 March.

Vladimir Putin at the pre-election campaign rally
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Vladimir Putin at the pre-election campaign rally. Photograph: EPA
Multiple reports before Saturday’s rally indicated that tens of thousands of Russians had been strongarmed into attending the event. University students, state employees, and workers at private companies were among those who came under pressure, according to opposition websites and social media posts.

“Organise yourselves into groups of no less than four, and photograph yourselves when you arrive at the stadium,” read an email, seen by the Guardian, which was sent to employees of a Moscow-based company. “Don’t forget to pick up your placards on Friday!” An employee at the company said he feared his wages would be cut if he did not comply.


Andrei Kondrashov, Putin’s campaign spokesman, denied anyone had been forced to attend the rally.

However, as Saturday’s event got under way, long before Putin had made his entrance, thousands of people streamed towards the nearest metro station. “Let’s get out of here,” said one middle-aged man named Pavel, after posing for a group photo with work colleagues. “I support Putin,” he said. “But I’m not spending all day here.”

Others were paid to attend.

“Men and women. 20-55 years old. March 3rd, rally/concert ‘For a Strong Russia’ in support of Vladimir Putin. Payment 500 roubles [£6],” read an announcement posted on Tuesday on a popular “rent-a-crowd” website.

Those who answered the advertisement were met near the stadium by a man who identified himself as Rodion. “We’ll all go to the stadium together, then meet back here and you’ll get your money,” he said, before handing out Russian Ecological party flags and scarves. No one present appeared to have any connection to the party. The move was an apparent bid to create the impression of broad support for Putin across Russia’s political spectrum.

“What difference does it make if I pretend to be an Ecological party member? I mean, I don’t support Putin, either,” said one young man, who refused to give his name. A spokesperson for the Russian Ecological party was not immediately available for comment.

There was no lack of genuine Putin supporters, however. Activists from the National Liberation Movement, an ultra-nationalist group, were highly visible both around the stadium and on the snow-caked streets outside. “Putin is an outstanding president who is trying to improve our lives,” said Irina Vasilyeva, an older woman, as she held up a portrait of the Russian leader. “We all have to give him all our support.”

Police were quick to detain the handful of opposition protesters. Yelena Zakharova, an anti-Kremlin activist, was seized outside the stadium after she unfurled a sign condemning Russia’s military campaigns in Syria and Ukraine. She was later released without charge.


Putin threatens US arms race with new missiles declaration

Inside the stadium, which will host this summer’s football World Cup final, speakers warmed up the crowd, with some continuing the bellicose tone of Putin’s recent state of the union address, at which he boasted of Russia’s new “invincible” nuclear weapons.

“We are a warring country, make no mistake. We have a commander-in-chief. He collects territories, wins wars, and introduces new weapons. How can a warring country change its commander-in-chief?” boomed Igor Ashmanov, a Russian businessman who is one of Putin’s official representatives during the election campaign.

Putin’s speech, when it came, was brief and low-energy, consisting of little more than nebulous promises of future victories. It was in stark contrast to his fiery comments at the same venue in 2012, ahead of that year’s elections, and amid mass opposition protests, when he urged the crowd to help him fight a “battle for Russia”.

Although Putin has never shown any great passion for election campaigning, his apparent indifference has reached new lows this year. He has not only declined to debate with rival candidates, he has also failed to publish even an election programme. Despite this, state-run opinion polls indicate that 69% of Russians will vote for him on 18 March. Pavel Grudinin, the Communist party candidate, is polling in second place, with 7%.

Former CIA director says Trump is 'unstable, inept, inexperienced and unethical' in scathing interview - Independent

Former CIA director says Trump is 'unstable, inept, inexperienced and unethical' in scathing interview
John Brennan warns President is ushering in 'very, very difficult chapter' in American history

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Former CIA director John Brennan has launched a blistering attack on Donald Trump, branding the US President “unstable, inept, inexperienced and unethical”.

Mr Brennan said he was “moving into the realm of deep worry and concern” as the consequences of Mr Trump’s ill-preparedness for the office were becoming clear.

In an interview with MSNBC’s Deadline White House programme, Mr Brennan claimed the President was not dealing with key issues facing the country and problems were now “coming to roost”.

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“It is no secret to anybody that Donald Trump was ill-prepared and inexperienced in terms of dealing with matters that a head of state needs to deal with,” he said.

“I think this is now coming to roost and I am really worried particularly the reports of the last couple of days, I think he must be feeling the pressure.

“I had been very angry at Donald Trump for the things he said and the things he did - I am now moving into the realm of deep worry and concern, our country needs strong leadership.

“Our country needs confidence that we are going to be able to deal with Mr Putin who is once again flexing his muscles on the military front, that we can deal with North Korea.

Donald Trump's least presidential moments so far...
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“If we have somebody in the Oval Office who is unstable, inept, inexperienced and also unethical, we really have rough waters ahead.”

The interview is not the first time the ex-CIA boss, who served in senior security roles under both George W Bush and Barack Obama, has publicly criticised Mr Trump.

Just five days before his inauguration, Mr Brennan warned the incoming President did not understand the threat Russia posed to the United States.


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In July last year, the former intelligence chief claimed America was a “nation in crisis”, while discussing Mr Trump’s handling of Russia.

Mr Brennan also offered a grim prediction for the direction of the United States during Mr Trump’s presidency.

“I do think it’s unfortunately going to get a bit more painful, a bit worse before it gets better,” he added.

“I do hope we are going to be able to get through this very, very difficult chapter in our history without incurring damage that could be long-lasting.”

A Canadian Marijuana Company Is Now Trading On The NASDAQ - Forbes

FEB 28, 2018 @ 06:24 PM 26,091 2 Free Issues of Forbes
A Canadian Marijuana Company Is Now Trading On The NASDAQ
Karl Kaufman , CONTRIBUTOR
I help investors think differently about finance & the stock market.
Opinions expressed by Forbes Contributors are their own.
Cronos Group, a medical marijuana company based in Toronto, just became the first Canadian cannabis stock to trade on a U.S. exchange. The stock is trading under ticker symbol CRON on the NASDAQ, and started trading yesterday at $8.24 before closing the day at $7.62. The stock closed up 20% today at $9.17.

Cronos was previously trading as an American Depository Receipt (ADR) on the OTC markets with the ticker symbol PRMCF. It is part of the first marijuana ETF to trade on a U.S. exchange, the ETFMG Alternative Harvest ETF (ticker: MJX), where it is the top holding, comprising 9.18% of the fund.

Cronos owns 100% of two medicinal marijuana and cannabis oil brands: Peace Naturals, which has 95 acres of land in Ontario; and Original BC, which has 31 acres of land in British Columbia. The company also holds a 21.5% stake in Whistler Medical Marijuana Company.

The company announced a joint venture agreement with Kibbutz Gan Shmuel in Israel, a partnership that will aid cultivation and distribution by leveraging the operations of the long-established kibbutz. According to a press release from last September, "The Israeli climate, combined with Gan Shmuel’s existing manufacturing infrastructure and skilled labor force, will enable Cronos Israel to produce high quality medical cannabis at an expected cost of between $0.40 and $0.50 per gram.”

While the NASDAQ listing is a new and exciting development for many investors, does that mean that Cronos Group is a good investment?

Marijuana, along with cryptocurrency, is currently one of the hottest industries for investors. Just like crypto, marijuana stocks offer high rewards with high risks alongside the accompanying volatility.

There are some key potential regulatory tailwinds that could rapidly enhance the growth prospects for Cronos and other marijuana companies. Canada is expected to legalize the use of recreational marijuana this year. Medicinal and recreational use of marijuana is becoming more accepted in the United States, with eight states allowing recreational use and more states expected to vote for legalization this year.

There are some significant headwinds, however, that could impede progress. Marijuana is still prohibited in the United States on a federal level, both for medicinal and recreational purposes. Attorney General Jeff Sessions created controversy at the beginning of the year by rescinding the Obama-era "Cole memo," which encouraged federal prosecutors to turn a blind eye towards cracking down on marijuana-related operations.

Saudi Arabia's $16 billion syndicated loan cuts funding costs - Reuters

MARCH 4, 2018 / 11:10 PM / UPDATED AN HOUR AGO
Saudi Arabia's $16 billion syndicated loan cuts funding costs
Davide Barbuscia
DUBAI (Reuters) - Saudi Arabia’s planned $16 billion syndicated loan, one of the largest ever in emerging markets, will cut the kingdom’s cost of funding by paying banks much less than on previous borrowings.
The ministry of finance said on Twitter that it would offer banks a margin of 75 basis points over the London Interbank Offered Rate (Libor) for the loan, which Saudi Arabia’s Debt Management Office plans to close by mid-March.
Offers from international banks for the loan, which will refinance, extend and increase an existing $10 billion facility raised in 2016 and due in 2021, exceeded $20 billion, it said.
Saudi Arabia’s loan in 2016 was its first jumbo debt deal after a slump in international oil prices hit its finances. It offered banks a margin of 103 basis points over Libor. Since then, the kingdom has issued $39 billion in international bonds.
Once completed, the revised debt facility will comprise an Islamic tranche corresponding to more than 30 percent of the size of the loan, which means in excess of $5 billion, the ministry of finance said on Twitter.
A group of 16 international banks will provide the new loan, the ministry of finance said, two more than the 14 international banks supporting the original $10 billion syndicated facility.
“Saudi Arabia’s debt management office usually doesn’t price aggressively, but this time they have reduced their loan margins by 28 basis points,” said Mohammed Khnifer, debt capital markets senior associate at the Islamic Development Bank group.
“I think the pricing reduction will reflect positively not only on Saudi Arabia’s upcoming bond sales, but will also have a ripple effect on the yield curves of better rated Gulf sovereigns such as Abu Dhabi and Kuwait.”
A new Saudi dollar bond sale could be marketed over the next few weeks, banking sources told Reuters last month.
Reporting by Davide Barbuscia; Editing by Alexander Smith

Philando Castile charity wipes out kids' lunch debt in district where he worked - CNN


Philando Castile charity wipes out kids' lunch debt in district where he worked
By Michelle Krupa, CNN
Updated 1804 GMT (0204 HKT) March 3, 2018
Teacher: Philando Castile was a role model for kids
Teacher: Philando Castile was a role model for kids 02:05
(CNN)One by one.
That's how Philando Castile, who was killed by a police officer during a 2016 traffic stop, used to help kids who couldn't afford lunch. The school nutrition supervisor would dip into his pocket and pay the bill.
Now a charity run in his name has multiplied his mission by thousands, wiping out the lunch debt of every student at all 56 schools in Minnesota's St. Paul Public Schools, where Castile worked.
A Philando Castile campaign is wiping off a year's worth of lunch debts at St. Paul schools
A Philando Castile campaign is wiping off a year's worth of lunch debts at St. Paul schools
"That means that no parent of the 37,000 kids who eat meals at school need worry about how to pay that overdue debt," according to a post at the YouCaring fundraising page Philando Feeds the Children. "Philando is STILL reaching into his pocket, and helping a kid out. One by one."
Pam Fergus, the Metro State University educator who runs the fund with her students, dropped off a check for about $35,000 this week at the school district's office, she told CNN.
The money will clear every cent families owe for school lunches. That's important because until the debt is paid, students' caregivers cannot submit paperwork to request free to reduced-price lunches, based on need, Fergus said.
"They just keep accruing the debt, every day getting (further and further) into debt," she said, adding that some families owed as much as $1,000.
'The pocket's gotten pretty deep'
Even after a dramatic expansion of lunch subsidy programs, many students cannot afford -- or don't know about -- reduced-price lunches. And when students can't pay, many districts often give them cold sandwiches in lieu of their peers' hot meals. Some schools deny them any lunch at all.
The Philando fund has far surpassed its $5,000 goal. It stood at $107,000 before this week's check cleared, with about 3,000 donations ranging from $1.50 to $1,000 each.
It's time to outlaw lunch shaming
It's time to outlaw lunch shaming
"The pocket's gotten pretty deep," Fergus said.
In an open letter to Castile in December, when the kitty hit six figures -- just 124 days after it launched -- Fergus vowed to "continue to honor your integrity and spirit."
"Across the country, people are discussing 'lunch-shaming,' " she wrote. "We are discussing the embarrassment a child suffers when parents cannot afford lunch. Your spirit is moving to change that issue."
As for a new goal, Fergus hopes the charity campaign ends only when no family struggles to pay for school lunch and when Castile's legacy of love -- rather than his violent death, the aftermath of which was broadcast in real time by his girlfriend on Facebook Live -- becomes the first thing people think about when they hear his name, she said.
"I don't know how much it would take to help the whole state of Minnesota," Fergus said. "There is no end goal. Basically, I want a million bucks in there."

Trump steps up war of words on trade with threat to tax EU cars - BBC News

Trump steps up war of words on trade with threat to tax EU cars
3 March 2018
Trump on new tariffs: 'We haven't been treated fairly'
US President Donald Trump has stepped up his war of words over trade tariffs, threatening to "apply a tax" on imports of cars from the European Union.

Mr Trump said other countries had taken advantage of the US for years because of its "very stupid" trade deals.

The trade wrangle began on Thursday when Mr Trump vowed to impose hefty tariffs on steel and aluminium imports.

That brought a stiff response from trading partners and criticism from the IMF and WTO.

EU trade chiefs have reportedly been considering slapping 25% tariffs on around $3.5bn (£2.5bn) of imports from the US, following Mr Trump's proposal of a 25% tariff on imported steel and 10% on aluminium.

They would target iconic US exports including Levi's jeans, Harley-Davidson motorbikes and Bourbon whisky, European Commission head Jean-Claude Juncker said.

Five reasons why trade wars aren't easy to win
Steel tariffs: What impact will they really have?
What has Mr Trump said now?
In a tweet on Saturday, the president said: "If the EU wants to further increase their already massive tariffs and barriers on US companies doing business there, we will simply apply a Tax on their Cars which freely pour into the US.

"They make it impossible for our cars (and more) to sell there. Big trade imbalance!"

A second tweet decried the "$800 Billion Dollar Yearly Trade Deficit because of our 'very stupid' trade deals and policies".

Mr Trump added: "Our jobs and wealth are being given to other countries that have taken advantage of us for years. They laugh at what fools our leaders have been. No more!"

How many EU-made cars go to the US?
The US is the largest export market for EU cars - making up 25% of the €192bn (£171bn; $237bn) worth of motor vehicles the bloc exported in 2016 (China was second with 16%).

Germany is responsible for just over half of the EU's car exports, so new US tariffs would hurt the car industry there. But German carmakers also build hundreds of thousands of cars in the US every year - providing many US jobs that German officials say Mr Trump overlooks.

Do fellow Republicans back Mr Trump's trade threats?
A number have questioned the wisdom of the tariff proposal and have been urging the president to reconsider.

A VW dealership in California. Mr Trump says there is a "big trade imbalance"
Senator Orrin Hatch said: "I'm very surprised, he's had very bad advice from somebody down there. The people who are going to have to pay these tariffs are going to be the American citizens."

Senator Ben Sasse said: "Kooky 18th Century protectionism will jack up prices on American families - and will prompt retaliation."

And industry bodies like the US Motor and Equipment Manufacturers Association have expressed deep concern, saying the benefits from the recent cuts in corporation tax "could all be for naught".

But Mr Trump's Commerce Secretary Wilbur Ross stood firmly behind the plans, saying the president was "fed up with the continued over-capacity, he's fed up with the subsidisation of exports to us".

Why does he want to impose tariffs?
It chimes with his "America First" policy and the narrative that the US is getting a raw deal in its trade relations with other countries.

Mr Trump tweeted on Friday that the US was "losing billions of dollars" and would find a trade war "easy to win".

@realDonaldTrump
When a country (USA) is losing many billions of dollars on trade with virtually every country it does business with, trade wars are good, and easy to win. Example, when we are down $100 billion with a certain country and they get cute, don’t trade anymore-we win big. It’s easy!
9:50 PM - Mar 2, 2018

The president is using a clause in international trade rules which allows for tariffs for national security reasons.

But his move has not come totally out of the blue.

The commerce department recommended tariffs in February after conducting a review under rarely invoked national security regulations contained in a 1962 trade law.

Mr Trump had already announced tariffs on solar panels and washing machines in January.

What has the international response been?
The IMF said others could follow the US leader's precedent by claiming tough trade restrictions were needed to defend national security.

Canada said tariffs would cause disruption on both sides of the border. Prime Minister Justin Trudeau slammed the tariffs as "absolutely unacceptable".

He told reporters in Ontario he was "confident we're going to continue to be able to defend Canadian industry".

It is one of several countries, including Brazil, Mexico and Japan, that have said they will consider retaliatory steps if the president presses ahead with his plan next week.

What would China do in a US trade war?
Where Trump stands on world trade
World Trade Organization Director General Roberto Azevedo said: "A trade war is in no-one's interests."

But Mr Trump tweeted, "Trade wars are good."

Are trade wars good?
Analysis by Theo Leggett, business correspondent

If trade wars really were good and easy to win, the World Trade Organization probably wouldn't exist.

Most countries believe that negotiations are best carried out and disputes settled through a rules-based system. Introducing trade barriers on a tit-for-tat basis has the potential to harm companies on both sides.

But that's unlikely to bother Mr Trump. His campaign rhetoric drew heavily on the perceived threat to traditional US industries from foreign interlopers acting unfairly. He's simply continuing in that vein.

And it's unlikely to register much with the steelworkers of Pennsylvania and Indiana. Concerned about their jobs and the future, many will welcome Mr Trump's comments.