May 12, 2018, 9:41 AM
No decision on a Mueller interview until after summit with North Korea, Giuliani says
Last Updated May 12, 2018 9:42 AM EDT
President Trump and his lawyers likely won't decide whether he will answer questions from Russia probe investigators until after his summit with North Korean leader Kim Jong Un next month, according to the president's legal team.
Rudy Giuliani, the president's new attorney, said in an interview with The Associated Press on Friday that any preparation with Trump for a possible interview with federal investigators would likely be delayed until after the June 12 summit in Singapore because "I wouldn't want to take his concentration off something far, far more important."
Giuliani, who also suggested that special counsel Robert Mueller's team had indicated it would not attempt to indict Mr. Trump, said he had hoped to resolve the question of a possible interview by May 17, the one-year anniversary of Mueller's appointment, but that was no longer feasible.
"Several things delayed us, with the primary one being the whole situation with North Korea," Giuliani said. "The president has been very busy. It really would be pretty close to impossible to spend the amount of time on it we would need."
White House Chief of Staff John Kelly said President Trump is "somewhat embarrassed" by the special counsel's investigation into Russian meddling in the 2016 election. Giuliani later clarified that comment to say "distracted" would be a better description.
The president's lawyers have not decided whether it would be in Mr. Trump's best interest to sit for an interview. Giuliani warned that it could be a "perjury trap" and suggested that "lies told by others" could land the president in legal trouble, though he said that Trump himself would not close the door entirely on an interview.
"The president would probably like the resolution," the former New York City mayor said. "If we were convinced it would speed up the process, we may do it. If we believed they would go into it honestly and with an open mind, we would be inclined to do it. But right now, we're not there."
Mueller's investigation has operated largely in secrecy, with the public getting only glimpses into its operation through witnesses who are questioned or when indictments and guilty pleas are unsealed. But Giuliani suggested that a recent conversation with Mueller's team led him to believe that the special counsel, citing a Justice Department opinion, had ruled out the possibility of trying to indict a sitting president.
Mueller has floated the idea of issuing a grand jury subpoena for Mr. Trump to answer questions, former Trump attorney John Dowd has said, though it is unclear how serious prosecutors were about such a move. Even if Mueller's team decided to subpoena Mr. Trump as part of the investigation, the president could still fight it in court or refuse to answer questions by invoking his Fifth Amendment protection from self-incrimination.
Giuliani said Friday that if a subpoena were issued to get Mr. Trump to appear, the president's legal team would oppose it unless they could "reach agreement on the ground rules." He argued that Mr. Trump could invoke executive privilege, and the team would point to Justice Department opinions in fighting a subpoena and "on both law and the facts, we would have the strongest case you could imagine." He noted the handover of 1.2 million documents as evidence of cooperation.
He also indicated that the president's lawyers may be "more likely" to agree to an interview if Mueller's team narrowed the scope of what it was investigating. Though Giuliani would not provide an exact date for when a determination would be made about the interview, he said it probably "would be silly to make a decision" much before the highly anticipated summit. He said that the demands on Trump's time meant that his legal team had "not done a lot" in terms of preparing the president for a possible in-person interview.
"It would take a while and he's focused on North Korea," said Giuliani.
A number of Trump allies, including Vice President Mike Pence this week, have stepped up calls for Mueller's investigation to wrap up, suggesting it was interfering in the president's ability to do the country's business. Mueller's team is investigating Russian interference in the 2016 election and possible coordination with Mr. Trump's associates as well as whether the president obstructed justice. So far, the special counsel's office has charged 19 people — including four Trump campaign advisers — and three Russian companies.
Both Mr. Trump's former national security adviser, Michael Flynn, and his deputy campaign chairman, Rick Gates, have pleaded guilty and are now cooperating with the probe. A number of other former White House and campaign staffers, including Reince Priebus and Steve Bannon, as well as Inauguration Day committee chairman Tom Barrack, have been interviewed.
Mr. Trump's longtime personal attorney, Michael Cohen, had his office and home raided by federal agents and, this week, was revealed to have been selling his insight into Trump to corporations. Giuliani said the arrangement "looks bad" but insisted there was no crime.
Giuliani demurred when asked if Mr. Trump would consider it a "red line" for his children to be interviewed. Ivanka Trump and her husband, Jared, Kushner, both worked on the campaign and are senior advisers at the White House, while Trump's adult sons, Don Jr. and Eric, were also leading figures on the campaign. Giuliani said he did not expect those interviews with Mueller to take place.
"Our understanding is that he's pretty much finished," Giuliani said. "As far we know, we're basically the last witness."
The special counsel's office has not outlined the duration of the probe.
Some of Mr. Trump's recent tweets revealed the president's anxiety about how the investigation could sway voters as they decide whether to keep congressional Republicans in power or force him to face an aggressive Democratic majority. Giuliani repeated his call for the probe to end soon but suggested that if it lasted until November's midterms, "it would be helping Republicans."
"It makes the campaign feel it it's about impeachment," the former mayor said. "I think the Democrats would be making the same mistake we did back during Clinton."
In 1998, months after Clinton was impeached, voter backlash cost the Republicans' chance to pick up seats in both Houses of Congress.
___
Associated Press writers Chad Day and Eric Tucker contributed reporting from Washington.
Saturday, May 12, 2018
North Korea announces it will hold a 'ceremony' for dismantling of its nuclear test site - Daily Mail
North Korea announces it will hold a 'ceremony' for dismantling of its nuclear test site
By Darren Boyle for MailOnline
PUBLISHED: 23:46 AEST, 12 May 2018 | UPDATED: 23:48 AEST, 12 May 2018
North Korea says it will hold a 'ceremony' for the dismantling of its nuclear test site on May 23-25 in what would be a dramatic but symbolic event to set up leader Kim Jong Un's summit with President Donald Trump next month.
North Korea's Foreign Ministry said Saturday that all of the tunnels at the country's northeastern testing ground will be destroyed by explosion, and that observation and research facilities and ground-based guard units will also be removed.
The North said it plans to invite journalists from the United States, South Korea, China, Russia and Britain to inspect the process.
Kim had revealed plans to shut down the nuclear test site during his summit with South Korean President Moon Jae-in last month.
More to follow.
Read more: http://www.dailymail.co.uk/news/article-5721253/North-Korea-announces-hold-ceremony-dismantling-nuclear-test-site.html#ixzz5FIN3FmW3
Follow us: @MailOnline on Twitter | DailyMail on Facebook
By Darren Boyle for MailOnline
PUBLISHED: 23:46 AEST, 12 May 2018 | UPDATED: 23:48 AEST, 12 May 2018
North Korea says it will hold a 'ceremony' for the dismantling of its nuclear test site on May 23-25 in what would be a dramatic but symbolic event to set up leader Kim Jong Un's summit with President Donald Trump next month.
North Korea's Foreign Ministry said Saturday that all of the tunnels at the country's northeastern testing ground will be destroyed by explosion, and that observation and research facilities and ground-based guard units will also be removed.
The North said it plans to invite journalists from the United States, South Korea, China, Russia and Britain to inspect the process.
Kim had revealed plans to shut down the nuclear test site during his summit with South Korean President Moon Jae-in last month.
More to follow.
Read more: http://www.dailymail.co.uk/news/article-5721253/North-Korea-announces-hold-ceremony-dismantling-nuclear-test-site.html#ixzz5FIN3FmW3
Follow us: @MailOnline on Twitter | DailyMail on Facebook
Bill Gates to Harvard students: 'This is a fascinating time to be alive' - CNBC News
Bill Gates to Harvard students: 'This is a fascinating time to be alive'
Kathleen Elkins | @kathleen_elk 3:01 PM ET Wed, 9 May 2018
Bill Gates, an American businessman and co-founder of the Microsoft Corporation.
Sanchit Khanna | Hindustan Times | Getty Images
Bill Gates, an American businessman and co-founder of the Microsoft Corporation.
Bill Gates says he's envious of the complex problems that today's young people will get to solve.
During a Q&A at Harvard last month, the Microsoft co-founder told students that it's a "more interesting time to be lucky enough to be a student at Harvard" than it was when he entered the Ivy in 1973.
Gates continued: "The ability to take innovation and solve problems including: How do you help low income students do as well as high income students? How do you go to Africa and help the health and education and take the incredible population growth that will be there and make that a positive asset for that continent?"
Bill Gates: These skills will create the most opportunity for you in the future job market Bill Gates: These skills will be most in-demand in the job market of the future
Today's hot topics, which also include climate change and artificial intelligence, are complex and wide-reaching, but that's what makes it "a fascinating time to be alive," he told students. "I don't know what it'll be like 50 or 60 years from now, what the problems will be. But in your generation, cancer, infectious disease, so many things will be solved."
If Gates had to pick one specific topic to zero in on if he were a Harvard student today, it would be artificial intelligence, since there are plenty of complex problems left to solve in the space, he said: "Computers still can't read. They cannot take a book of information and, say, pass an AP test on that book. And that's a solvable problem."
"I'm jealous that maybe one of you gets to work on that," he added. "It's the juiciest problem ever."
Kathleen Elkins | @kathleen_elk 3:01 PM ET Wed, 9 May 2018
Bill Gates, an American businessman and co-founder of the Microsoft Corporation.
Sanchit Khanna | Hindustan Times | Getty Images
Bill Gates, an American businessman and co-founder of the Microsoft Corporation.
Bill Gates says he's envious of the complex problems that today's young people will get to solve.
During a Q&A at Harvard last month, the Microsoft co-founder told students that it's a "more interesting time to be lucky enough to be a student at Harvard" than it was when he entered the Ivy in 1973.
Gates continued: "The ability to take innovation and solve problems including: How do you help low income students do as well as high income students? How do you go to Africa and help the health and education and take the incredible population growth that will be there and make that a positive asset for that continent?"
Bill Gates: These skills will create the most opportunity for you in the future job market Bill Gates: These skills will be most in-demand in the job market of the future
Today's hot topics, which also include climate change and artificial intelligence, are complex and wide-reaching, but that's what makes it "a fascinating time to be alive," he told students. "I don't know what it'll be like 50 or 60 years from now, what the problems will be. But in your generation, cancer, infectious disease, so many things will be solved."
If Gates had to pick one specific topic to zero in on if he were a Harvard student today, it would be artificial intelligence, since there are plenty of complex problems left to solve in the space, he said: "Computers still can't read. They cannot take a book of information and, say, pass an AP test on that book. And that's a solvable problem."
"I'm jealous that maybe one of you gets to work on that," he added. "It's the juiciest problem ever."
Peter Mandelson Labour veteran tells The Independent a political crisis is coming, and that ultimately only the public will be able to settle it - Independent
May 12, 2018
Brexit 'will have to go back to the people' for a second vote, says Peter Mandelson
Labour veteran tells The Independent a political crisis is coming, and that ultimately only the public will be able to settle it
Tom Peck @tompeck
The former EU Trade Commissioner says the economic arguments on Brexit are starting to defeat the political ones
By 11am on Thursday, Baron Mandelson of Hartlepool and Foy is not yet aware of his new status as a “traitor in ermine”.
That this new sobriquet had been spread across the masthead of the latest Daily Mail, in reference to the more than 300 members of the House of Lords that had defeated the government over Brexit for the fourteenth time, was news he had not yet been told.
“Most readers of the Mail pretty quickly skip over the front page and turn to the other parts of the paper that interest them more,” he says, at the central London offices of Global Counsel, the strategic advisory firm of which he is chairman.
“A cabal of newspaper owners and editors have driven anti-European feeling in Britain over a period of 25 years. They have coordinated their actions throughout, with a very well off, pretty privileged, cosseted elite, who broadly speaking, hate liberal politics, dislike government and oppose regulation in the public interest.
“These are the people whose whole crusade has been about taking Britain out of the European Union and what is striking about it is their own economic interests and political views are at odds with so many people who voted for it.”
Falkland Islands government sounds alarm on leaving single market
On Tuesday night, large numbers of both Labour and Conservative peers disobeyed instructions from their whips and voted for an amendment which returned the EU Withdrawal Bill to the Commons with instructions to consider keeping the UK in the EU’s single market.
It was a thunderclap in what Lord Mandelson describes as a “gathering storm” on Brexit, which he says is building to a political crisis that will come in the autumn.
But the Labour veteran, a former EU trade commissioner, is by no means a mere observer of this gathering storm. Though he is not quite the Prospero of the Brexit Tempest – that would be overstating things – he is certainly not seeking to allay the wild waters.
The more ferocious the political weather, the more cabinet, government, parliament and all parties within it are cast asunder, and the more likely it becomes that the decision on how the UK leaves the EU will have to, as he describes it, “go back to the people.”
As he outlines the intractable problems facing Theresa May as she tries to lead a cabinet and a party with irreconcilable conflict on the manner of the UK’s exit from the EU, going “back to the people” is the outcome he and others are clearly strategising for.
“Since the referendum Brexit has been driven by politics not economics, and now economics is fighting back and winning the argument. That’s why the Brexiteers are so desperate,” he says.
“But the prime minister has made promises about the future of cross border trade to international investors in Britain, whether it’s Japanese car makers, or Airbus or countless other manufacturers, which can only be kept by means of a customs union with Europe.
“And she doesn’t know how to keep these promises. Or rather she does know how to keep them and doesn’t know how she’ll get her cabinet and her party to support what she knows needs to happen. This is the quandary that she faces.
“We’ve had a snapshot of this debate in the Lords but the debate is going to grow. People are going to become more aware of what is at stake, and the fault line that runs through the cabinet between the soft leavers and the clean breakers is going to become more stark.”
It is the further development of this fault line which will have major consequences.
“What do you do in this situation, when the foreign secretary feels able to go out and rubbish the prime minister and her views? It is a fundamental fault line that runs through the cabinet, which at the moment the prime minister is unable to bridge. There is going to be a major political crisis over this. And you can see it in the gathering storm that is already growing in the Commons,” he says.
“Conservative MPs, including ministers, are going to make it clear to their whips, as they have already started to do, that come the autumn they will not be voting either for a no-deal Brexit or a hard-deal Brexit.
Privately, sources close to Theresa May indicate that the best way around it might be to use the soft Brexit majority in the commons, almost to circumnavigate the divisions of her cabinet. She personally cannot make Boris Johnson, Liam Fox and David Davis, swallow political reality – but perhaps the House of Commons can.
But Lord Mandelson is doubtful whether even that option is open to her.
“There is no settled view in the Commons and there won’t be in the autumn either,” he says. “That is why I believe that ultimately parliament is going to have to pass this whole question of how we exit the European Union back to the people.”
He stops well short of describing the mechanics of how the people will go about making that decision, only that there will need to be a “people’s vote”, a phrase that coincidentally shares the name of a recently launched campaign for a second referendum.
“I am not sitting here in May, writing the terms of the people’s vote,” he says, and all attempts to coax him even an inch down that particular avenue are futile.
“What I am arguing to you is if parliament can’t resolve this matter, and I think there is very little prospect of it being able to do that, with the disagreements and divisions that exist within and between the parties, there is only one other body of people who can and that is the public.”
May has found another way to stall making a decision on Brexit
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Whether the public really are gathering behind his view is impossible to say. According to recent opinion polls, there does appear to be large amounts of dismay at the way Brexit is being handled, and mounting concern about the economic consequences. But how these concerns would express themselves through a question in a second referendum is by no means clear.
“I don’t see the point in the country arguing over the result of the referendum. We know what the result of the referendum was. We know why we got into this position. But how we resolve this is very unclear and very difficult,” he says.
“The public has been given every opportunity, both in opinion polls, but more importantly in an election last year, to express their support for a hard Brexit and they have declined to do so.”
In the meantime, it is certainly not just the Conservatives who must get their act together, he believes.
“Jeremy Corbyn seems to think that the argument going on in the Labour Party about Brexit is a row about him, and whether or not you’re in favour of his leadership,” he says. “It’s not about that. It’s about Brexit. It’s about pro-Brexit views and the tacit support he is giving to a hard Brexit. In my view this is a betrayal of his supporters in the party because it is the least protected and the most vulnerable in society in the most vulnerable regions in the country who will pay the biggest price.
“He has to face up to that. It is called political leadership. It’s facing up to these realities, these difficult choices, that he and the Labour Party has a responsibility to do, and at the moment the Labour Party is ducking issues, pretending the difficult choices don’t exist, hoping the Conservatives will collapse and that we will be the political beneficiaries.”
But what makes the problem particularly hard for Mr Corbyn is that he has, to this point, shown political leadership. He is widely adored by his supporters because they see him as “honest” and “principled.” He has also been an on the record campaigner against the EU for 30 years. So it is not at all clear if suddenly coming out in favour of it would be seen as “political leadership” by his army of supporters. But to this point, Lord Mandelson has a sharp answer.
“I don’t know whether Jeremy has been a hard Brexiter for 30 years. But I think his view of the European Union is based on a fundamental misconception, which is that EU membership is incompatible with high levels of spending, investment in public services, government regulation of the economy, industrial strategy, and more active labour market regulation.
“If this were the case, why do you see such policies being operated by governments right across the European Union? Either he is misinformed, or he is using these arguments as a convenience, as a pretext, for a more fundamental opposition to the European Union. I don’t know which it is. But I know enough about the European Union and the policies pursued by its members states. The idea that active, interventionist, social democracy is somehow incompatible with EU membership? It isn’t. That is a misnomer.”
May should ‘bite the bullet and pay EU’s £52bn bill, says Mandelson
Quite how the storm will gather over the coming months, what will be its magnitude and who will be standing where when it eventually breaks cannot yet be known, but Jeremy Corbyn is wrong to imagine himself sheltered from its forces. “If Brexit ends in disaster for the country, it’s not just those who perpetrated that disaster, but also its handmaidens who will be blamed,” says Lord Mandelson. But it is Theresa May that is playing the most dangerous game of all.
“I think she is playing for time. Kicking the can down the road. Hoping that something turns up. Hoping that a magical solution will jump out of a top hat and rescue her.
“If she thinks that the solution lies in some completely hybrid, contrived tailor made solution all I’d say about that is that the single market, and the EU’ s trade policies are not going to be vaguely compatible with it. She can dream on. If she thinks some hybrid agreement is going to magic away her party’s contradictions, well that is an attempt to dance on the head of a pin that doesn’t exist.”
As the dance continues, don’t be surprised to hear more from one particular ermine-clad traitor in particular, as he conspires to call the tune.
Brexit 'will have to go back to the people' for a second vote, says Peter Mandelson
Labour veteran tells The Independent a political crisis is coming, and that ultimately only the public will be able to settle it
Tom Peck @tompeck
The former EU Trade Commissioner says the economic arguments on Brexit are starting to defeat the political ones
By 11am on Thursday, Baron Mandelson of Hartlepool and Foy is not yet aware of his new status as a “traitor in ermine”.
That this new sobriquet had been spread across the masthead of the latest Daily Mail, in reference to the more than 300 members of the House of Lords that had defeated the government over Brexit for the fourteenth time, was news he had not yet been told.
“Most readers of the Mail pretty quickly skip over the front page and turn to the other parts of the paper that interest them more,” he says, at the central London offices of Global Counsel, the strategic advisory firm of which he is chairman.
“A cabal of newspaper owners and editors have driven anti-European feeling in Britain over a period of 25 years. They have coordinated their actions throughout, with a very well off, pretty privileged, cosseted elite, who broadly speaking, hate liberal politics, dislike government and oppose regulation in the public interest.
“These are the people whose whole crusade has been about taking Britain out of the European Union and what is striking about it is their own economic interests and political views are at odds with so many people who voted for it.”
Falkland Islands government sounds alarm on leaving single market
On Tuesday night, large numbers of both Labour and Conservative peers disobeyed instructions from their whips and voted for an amendment which returned the EU Withdrawal Bill to the Commons with instructions to consider keeping the UK in the EU’s single market.
It was a thunderclap in what Lord Mandelson describes as a “gathering storm” on Brexit, which he says is building to a political crisis that will come in the autumn.
But the Labour veteran, a former EU trade commissioner, is by no means a mere observer of this gathering storm. Though he is not quite the Prospero of the Brexit Tempest – that would be overstating things – he is certainly not seeking to allay the wild waters.
The more ferocious the political weather, the more cabinet, government, parliament and all parties within it are cast asunder, and the more likely it becomes that the decision on how the UK leaves the EU will have to, as he describes it, “go back to the people.”
As he outlines the intractable problems facing Theresa May as she tries to lead a cabinet and a party with irreconcilable conflict on the manner of the UK’s exit from the EU, going “back to the people” is the outcome he and others are clearly strategising for.
“Since the referendum Brexit has been driven by politics not economics, and now economics is fighting back and winning the argument. That’s why the Brexiteers are so desperate,” he says.
“But the prime minister has made promises about the future of cross border trade to international investors in Britain, whether it’s Japanese car makers, or Airbus or countless other manufacturers, which can only be kept by means of a customs union with Europe.
“And she doesn’t know how to keep these promises. Or rather she does know how to keep them and doesn’t know how she’ll get her cabinet and her party to support what she knows needs to happen. This is the quandary that she faces.
“We’ve had a snapshot of this debate in the Lords but the debate is going to grow. People are going to become more aware of what is at stake, and the fault line that runs through the cabinet between the soft leavers and the clean breakers is going to become more stark.”
It is the further development of this fault line which will have major consequences.
“What do you do in this situation, when the foreign secretary feels able to go out and rubbish the prime minister and her views? It is a fundamental fault line that runs through the cabinet, which at the moment the prime minister is unable to bridge. There is going to be a major political crisis over this. And you can see it in the gathering storm that is already growing in the Commons,” he says.
“Conservative MPs, including ministers, are going to make it clear to their whips, as they have already started to do, that come the autumn they will not be voting either for a no-deal Brexit or a hard-deal Brexit.
Privately, sources close to Theresa May indicate that the best way around it might be to use the soft Brexit majority in the commons, almost to circumnavigate the divisions of her cabinet. She personally cannot make Boris Johnson, Liam Fox and David Davis, swallow political reality – but perhaps the House of Commons can.
But Lord Mandelson is doubtful whether even that option is open to her.
“There is no settled view in the Commons and there won’t be in the autumn either,” he says. “That is why I believe that ultimately parliament is going to have to pass this whole question of how we exit the European Union back to the people.”
He stops well short of describing the mechanics of how the people will go about making that decision, only that there will need to be a “people’s vote”, a phrase that coincidentally shares the name of a recently launched campaign for a second referendum.
“I am not sitting here in May, writing the terms of the people’s vote,” he says, and all attempts to coax him even an inch down that particular avenue are futile.
“What I am arguing to you is if parliament can’t resolve this matter, and I think there is very little prospect of it being able to do that, with the disagreements and divisions that exist within and between the parties, there is only one other body of people who can and that is the public.”
May has found another way to stall making a decision on Brexit
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Government’s post-Brexit environment laws ‘hugely disappointing’
Northeast Labour MPs were right to rebel over Brexit
Whether the public really are gathering behind his view is impossible to say. According to recent opinion polls, there does appear to be large amounts of dismay at the way Brexit is being handled, and mounting concern about the economic consequences. But how these concerns would express themselves through a question in a second referendum is by no means clear.
“I don’t see the point in the country arguing over the result of the referendum. We know what the result of the referendum was. We know why we got into this position. But how we resolve this is very unclear and very difficult,” he says.
“The public has been given every opportunity, both in opinion polls, but more importantly in an election last year, to express their support for a hard Brexit and they have declined to do so.”
In the meantime, it is certainly not just the Conservatives who must get their act together, he believes.
“Jeremy Corbyn seems to think that the argument going on in the Labour Party about Brexit is a row about him, and whether or not you’re in favour of his leadership,” he says. “It’s not about that. It’s about Brexit. It’s about pro-Brexit views and the tacit support he is giving to a hard Brexit. In my view this is a betrayal of his supporters in the party because it is the least protected and the most vulnerable in society in the most vulnerable regions in the country who will pay the biggest price.
“He has to face up to that. It is called political leadership. It’s facing up to these realities, these difficult choices, that he and the Labour Party has a responsibility to do, and at the moment the Labour Party is ducking issues, pretending the difficult choices don’t exist, hoping the Conservatives will collapse and that we will be the political beneficiaries.”
But what makes the problem particularly hard for Mr Corbyn is that he has, to this point, shown political leadership. He is widely adored by his supporters because they see him as “honest” and “principled.” He has also been an on the record campaigner against the EU for 30 years. So it is not at all clear if suddenly coming out in favour of it would be seen as “political leadership” by his army of supporters. But to this point, Lord Mandelson has a sharp answer.
“I don’t know whether Jeremy has been a hard Brexiter for 30 years. But I think his view of the European Union is based on a fundamental misconception, which is that EU membership is incompatible with high levels of spending, investment in public services, government regulation of the economy, industrial strategy, and more active labour market regulation.
“If this were the case, why do you see such policies being operated by governments right across the European Union? Either he is misinformed, or he is using these arguments as a convenience, as a pretext, for a more fundamental opposition to the European Union. I don’t know which it is. But I know enough about the European Union and the policies pursued by its members states. The idea that active, interventionist, social democracy is somehow incompatible with EU membership? It isn’t. That is a misnomer.”
May should ‘bite the bullet and pay EU’s £52bn bill, says Mandelson
Quite how the storm will gather over the coming months, what will be its magnitude and who will be standing where when it eventually breaks cannot yet be known, but Jeremy Corbyn is wrong to imagine himself sheltered from its forces. “If Brexit ends in disaster for the country, it’s not just those who perpetrated that disaster, but also its handmaidens who will be blamed,” says Lord Mandelson. But it is Theresa May that is playing the most dangerous game of all.
“I think she is playing for time. Kicking the can down the road. Hoping that something turns up. Hoping that a magical solution will jump out of a top hat and rescue her.
“If she thinks that the solution lies in some completely hybrid, contrived tailor made solution all I’d say about that is that the single market, and the EU’ s trade policies are not going to be vaguely compatible with it. She can dream on. If she thinks some hybrid agreement is going to magic away her party’s contradictions, well that is an attempt to dance on the head of a pin that doesn’t exist.”
As the dance continues, don’t be surprised to hear more from one particular ermine-clad traitor in particular, as he conspires to call the tune.
North Korea will receive US economic assistance if it gives up nuclear weapons, Pompeo says - Fox News
May 11, 2018
North Korea will receive US economic assistance if it gives up nuclear weapons, Pompeo says
By Elizabeth Zwirz | Fox News
Pompeo sets standard for North Korean denuclearization
Secretary of state says U.S. expects the permanent, complete, verifiable dismantling of Kim Jong Un's nuclear program; Rich Edson reports from the State Department.
Secretary of State Mike Pompeo on Friday extended America’s potential economic assistance to North Korea, under the assumption that they get rid of their nuclear weapons.
“If Chairman Kim chooses the right path, there is a future brimming with peace and prosperity” for North Korea and its people, Pompeo said. "If North Korea takes bold action to quickly denuclearize, the United States is prepared to work with North Korea to achieve prosperity on the par with our South Korean friends."
Secretary of State Mike Pompeo, right, spoke during a news conference with South Korean Foreign Minister Kang Kyung-wha at the State Department on Friday. (AP Photo/Alex Brandon)
His remarks came during a joint news conference held with South Korean Foreign Minister Kang Kyung-wha. It was Pompeo’s first since becoming the head of the State Department.
Pompeo returned from the North Korean capital of Pyongyang on Thursday after securing the successful release of three Americans who had been detained in the country. During the trip, Pompeo met with dictator Kim Jong Un, whom he told the press on Friday that he had a “good” and “substantive” conversation with.
In terms of denuclearization, Pompeo said “it’s pretty clear what that means,” saying “it would be an activity that” made sure “we didn’t end up in the same place that we’d ended up before.”
Secretary of State Mike Pompeo says he had good conversations with Kim Jong Un and that U.S., North Korea have understanding of shared goals of summit.Video
Pompeo: Robust verification needed for deal with North Korea
To accomplish that goal, he said it would involve a “robust verification program” that the U.S. will undertake with partners around the world.
After their conversation, Pompeo said that he thinks he and Kim “have a pretty good understanding between our two countries about what the shared objectives are.”
TRUMP’S SUMMIT WITH KIM JONG UN SET FOR JUNE 12 IN SINGAPORE, PRESIDENT SAYS
President Trump announced Pompeo's trip to the hermit kingdom on Tuesday, saying he was going there to prepare for the upcoming meeting between the president and Kim. That meeting has since been set for June 12 in Singapore.
In regards to sanctions on North Korea, Kang said that they would “remain in place until, and unless, we see visible, meaningful action taken by North Korea on the denuclearization track.”
KoreaTrump
She also underlined that U.S. forces in the Republic of Korea have “played a crucial role for deterrence and peace and stability” and said the presence of troops in the area is a matter for the alliance between the U.S. and South Korea “first and foremost.”
"The next few weeks will be critical, requiring air-tight coordination between our two countries," Kang said.
Fox News’ Nicholas Kalman, Judson Berger, Adam Shaw and The Associated Press contributed to this report.
North Korea will receive US economic assistance if it gives up nuclear weapons, Pompeo says
By Elizabeth Zwirz | Fox News
Pompeo sets standard for North Korean denuclearization
Secretary of state says U.S. expects the permanent, complete, verifiable dismantling of Kim Jong Un's nuclear program; Rich Edson reports from the State Department.
Secretary of State Mike Pompeo on Friday extended America’s potential economic assistance to North Korea, under the assumption that they get rid of their nuclear weapons.
“If Chairman Kim chooses the right path, there is a future brimming with peace and prosperity” for North Korea and its people, Pompeo said. "If North Korea takes bold action to quickly denuclearize, the United States is prepared to work with North Korea to achieve prosperity on the par with our South Korean friends."
Secretary of State Mike Pompeo, right, spoke during a news conference with South Korean Foreign Minister Kang Kyung-wha at the State Department on Friday. (AP Photo/Alex Brandon)
His remarks came during a joint news conference held with South Korean Foreign Minister Kang Kyung-wha. It was Pompeo’s first since becoming the head of the State Department.
Pompeo returned from the North Korean capital of Pyongyang on Thursday after securing the successful release of three Americans who had been detained in the country. During the trip, Pompeo met with dictator Kim Jong Un, whom he told the press on Friday that he had a “good” and “substantive” conversation with.
In terms of denuclearization, Pompeo said “it’s pretty clear what that means,” saying “it would be an activity that” made sure “we didn’t end up in the same place that we’d ended up before.”
Secretary of State Mike Pompeo says he had good conversations with Kim Jong Un and that U.S., North Korea have understanding of shared goals of summit.Video
Pompeo: Robust verification needed for deal with North Korea
To accomplish that goal, he said it would involve a “robust verification program” that the U.S. will undertake with partners around the world.
After their conversation, Pompeo said that he thinks he and Kim “have a pretty good understanding between our two countries about what the shared objectives are.”
TRUMP’S SUMMIT WITH KIM JONG UN SET FOR JUNE 12 IN SINGAPORE, PRESIDENT SAYS
President Trump announced Pompeo's trip to the hermit kingdom on Tuesday, saying he was going there to prepare for the upcoming meeting between the president and Kim. That meeting has since been set for June 12 in Singapore.
In regards to sanctions on North Korea, Kang said that they would “remain in place until, and unless, we see visible, meaningful action taken by North Korea on the denuclearization track.”
KoreaTrump
She also underlined that U.S. forces in the Republic of Korea have “played a crucial role for deterrence and peace and stability” and said the presence of troops in the area is a matter for the alliance between the U.S. and South Korea “first and foremost.”
"The next few weeks will be critical, requiring air-tight coordination between our two countries," Kang said.
Fox News’ Nicholas Kalman, Judson Berger, Adam Shaw and The Associated Press contributed to this report.
Warren Buffett Speaks to CEOs Going Political - TIME Business
Warren Buffett Speaks to CEOs Going Political
Posted: May 12, 2018
When Warren Buffett held his annual investorfest at the beginning of this month, he weighed in on CEOs taking stands on social issues. While he certainly airs his own political views from time to time, his stance is that he doesn’t want to speak for shareholders.
Buffett’s view on this subject was once standard CEO fare. But that’s changed: think Salesforce CEO Marc Benioff’s campaign against Indiana’s religious-freedom law, Merck CEO Ken Frazier’s resignation from President Trump’s advisory council after the Charlottesville riots or Delta CEO Ed Bastian’s decision to cut discounts for NRA members after the Parkland shootings–to name a few.
None of those would have happened a decade ago. So why are they happening now? In many cases, employees and customers are demanding that CEOs speak out.
But Buffett is right to note that this gets tricky quickly. When Frazier made his stand, he was not giving his personal views but signaling “what kind of company we are.” Benioff and Bastian were doing the same. At some point, taking such stands risks alienating customers and adding to polarization. The old line separating business from politics has clearly moved. But many CEOs are still struggling to understand where the new line should be drawn.
Murray is the president of Fortune
This appears in the May 21, 2018 issue of TIME.
Posted: May 12, 2018
When Warren Buffett held his annual investorfest at the beginning of this month, he weighed in on CEOs taking stands on social issues. While he certainly airs his own political views from time to time, his stance is that he doesn’t want to speak for shareholders.
Buffett’s view on this subject was once standard CEO fare. But that’s changed: think Salesforce CEO Marc Benioff’s campaign against Indiana’s religious-freedom law, Merck CEO Ken Frazier’s resignation from President Trump’s advisory council after the Charlottesville riots or Delta CEO Ed Bastian’s decision to cut discounts for NRA members after the Parkland shootings–to name a few.
None of those would have happened a decade ago. So why are they happening now? In many cases, employees and customers are demanding that CEOs speak out.
But Buffett is right to note that this gets tricky quickly. When Frazier made his stand, he was not giving his personal views but signaling “what kind of company we are.” Benioff and Bastian were doing the same. At some point, taking such stands risks alienating customers and adding to polarization. The old line separating business from politics has clearly moved. But many CEOs are still struggling to understand where the new line should be drawn.
Murray is the president of Fortune
This appears in the May 21, 2018 issue of TIME.
Why Argentina’s Talks With the IMF Are Enraging the Country - TIME
Why Argentina’s Talks With the IMF Are Enraging the Country
Posted: 11 May 2018 03:28 AM PDT
In a somber televised address to the country on Tuesday, Argentine President Mauricio Macri announced his government would open talks with the International Monetary Fund, reportedly to seek $30 billion of support for his country’s ailing economy.
Macri said the move was necessary to “avoid crises like the ones we have had in our history”. The news came as a shock in Argentina, where many blame the IMF for exacerbating the catastrophic economic collapse of 2001.
Hours after the news broke, protesters had gathered outside the Congress Building in downtown Buenos Aires with posters saying “No to the IMF” and “IMF=Austerity”. Here’s what to know:
Why does Argentina need help from the IMF?
The Argentine peso has lost a quarter of its value in the last year as investors have lost confidence in the currency. Earlier this week, it hit an all time low of 23.5 pesos to the dollar — compared to around 15.5 pesos/dollar this time last year.
Inflation has hit 25%, the highest rate in Latin America outside economically-stricken Venezuela. Macri’s government has been unable to stabilise the currency and bring inflation under control, despite hiking interest rates three times so far this year. So he has made the risky move of turning to the IMF for aid.
Why is the IMF hated in Argentina?
Over the 1990s, the IMF poured money into Argentina’s struggling economy, backing a risky government policy that pegged the peso to the dollar. The country was unable to keep up with repayments and fell into a deep recession, with the currency peg making it hard to respond.
The IMF forced the country to implement punishing austerity policies in exchange for support, then it abruptly cut off the taps. Argentina quickly defaulted on a record $135 billion of debts, the peso plummeted and millions of middle-class Argentines lost their jobs.
Argentina eventually paid off its debts to the IMF after five years of economic pain. But leftist President Nestor Kirchner vowed the country would never borrow from them again.
Who is in charge of Argentina now?
Macri, who was elected in 2015 on a promise to make Argentina a “normal country” again. He scrapped protectionist policies and began to gradually reopen the economy to foreign investment.
For a while, it worked. In 2016 analysts hailed the country’s “triumphant return” to capital markets and last year it successfully floated $2.75 billion worth of long-term ‘century bonds,’ which indicated investor confidence in the state. For the last year and a half the economy has been growing at an annual rate of 3%.
So what went wrong?
The reforms started by Macri are taking longer than expected and investors are becoming impatient. Meanwhile, interest rate hikes in the U.S. have prompted American investors to dump riskier assets overseas.
How is the public responding?
Hundreds of Argentines marched through the streets of Buenos Aires on Wednesday night, banging drums and raising hastily-made banners. Others took to social media to express concern, saying “here we go again” and sharing memes of IMF director Christine Lagarde attacking Argentina’s lax public spending.
Posted: 11 May 2018 03:28 AM PDT
In a somber televised address to the country on Tuesday, Argentine President Mauricio Macri announced his government would open talks with the International Monetary Fund, reportedly to seek $30 billion of support for his country’s ailing economy.
Macri said the move was necessary to “avoid crises like the ones we have had in our history”. The news came as a shock in Argentina, where many blame the IMF for exacerbating the catastrophic economic collapse of 2001.
Hours after the news broke, protesters had gathered outside the Congress Building in downtown Buenos Aires with posters saying “No to the IMF” and “IMF=Austerity”. Here’s what to know:
Why does Argentina need help from the IMF?
The Argentine peso has lost a quarter of its value in the last year as investors have lost confidence in the currency. Earlier this week, it hit an all time low of 23.5 pesos to the dollar — compared to around 15.5 pesos/dollar this time last year.
Inflation has hit 25%, the highest rate in Latin America outside economically-stricken Venezuela. Macri’s government has been unable to stabilise the currency and bring inflation under control, despite hiking interest rates three times so far this year. So he has made the risky move of turning to the IMF for aid.
Why is the IMF hated in Argentina?
Over the 1990s, the IMF poured money into Argentina’s struggling economy, backing a risky government policy that pegged the peso to the dollar. The country was unable to keep up with repayments and fell into a deep recession, with the currency peg making it hard to respond.
The IMF forced the country to implement punishing austerity policies in exchange for support, then it abruptly cut off the taps. Argentina quickly defaulted on a record $135 billion of debts, the peso plummeted and millions of middle-class Argentines lost their jobs.
Argentina eventually paid off its debts to the IMF after five years of economic pain. But leftist President Nestor Kirchner vowed the country would never borrow from them again.
Who is in charge of Argentina now?
Macri, who was elected in 2015 on a promise to make Argentina a “normal country” again. He scrapped protectionist policies and began to gradually reopen the economy to foreign investment.
For a while, it worked. In 2016 analysts hailed the country’s “triumphant return” to capital markets and last year it successfully floated $2.75 billion worth of long-term ‘century bonds,’ which indicated investor confidence in the state. For the last year and a half the economy has been growing at an annual rate of 3%.
So what went wrong?
The reforms started by Macri are taking longer than expected and investors are becoming impatient. Meanwhile, interest rate hikes in the U.S. have prompted American investors to dump riskier assets overseas.
How is the public responding?
Hundreds of Argentines marched through the streets of Buenos Aires on Wednesday night, banging drums and raising hastily-made banners. Others took to social media to express concern, saying “here we go again” and sharing memes of IMF director Christine Lagarde attacking Argentina’s lax public spending.
Why Warren Buffett Loves Apple Stock - Fortune
Why Warren Buffett Loves Apple Stock
Berkshire Hathaway’s 2018 Annual Meeting: 5 Takeaways
Warren Buffett had a few things to say.
By JEN WIECZNER May 7, 2018
Although Warren Buffett regrets not buying Google and Amazon stock, he isn’t making the same mistake with Apple.
After first investing in Apple in 2016, the iPhone maker is now the largest holding of Buffett’s Berkshire Hathaway, which owns a staggering 250 million Apple shares, Buffett said Saturday. That makes his Apple position worth about $46.3 billion at current prices.
But at the annual Berkshire Hathaway meeting in Omaha Saturday, Buffett faced questions about how he became so bullish on Apple (AAPL, -0.39%)—after famously avoiding tech stocks for most of his investing lifetime.
“I didn’t go into Apple because it was a tech stock in the least,” Buffett explained at the Berkshire meeting. “I went into Apple because I came to certain conclusions about both the intelligence with the capital they deploy, but more important the value of their ecosystem and how permanent that ecosystem could be.”
Apple, whose stock hit a new record high Monday, has been a major winner for Berkshire Hathaway: Apple’s stock price has roughly doubled in the two years since Berkshire initially disclosed its stake.
Buffett is a big fan of so-called economic moats, or advantages that allow companies to retain their customers despite the competition—which for Apple is the iPhone, he said. “We’re betting on the success of Apple products like the iPhone, and I see characteristics in that that make me think it’s extraordinary,” Buffett said.
But there’s another reason Buffett loves Apple besides its tech gadgets: Apple’s massive cash hoard, which allows it to buy back a lot of its own stock.
After offering its first stock buyback in August 2012, Apple has bought back $200 billion worth of stock, and just announced last week that it would repurchase an additional $100 billion in its shares.
While stock buybacks are a controversial way for companies to spend cash that they could otherwise invest in growth or acquisitions, Buffett said that in Apple’s case it makes sense.
“I think it’s extremely hard to find acquisitions that would be accretive to Apple that would be in the $50 billion, or $100 billion or $200 billion range,” Buffett said. “I’m delighted to see them repurchasing shares.”
Apple’s buybacks also mean that Berkshire Hathaway, which owns roughly 5% of Apple’s outstanding shares, could end up owning a larger percentage chunk of the tech company in the future—simply because there will be fewer shares left after Apple buys them up.
“I love the idea of having our 5% grow to 6 or 7% without us laying out a dime,” Buffett said. “It’s worked for us in many other situations.”
Although investors enjoy speculating on which companies Apple should acquire, Buffett, ironically, is quite pessimistic about its M&A potential.
“As I look around the horizon, I don’t see anything that would make a lot of sense for them [to buy] in terms of what they’d have to pay and what they would get,” said Buffett, who is known for investing in low-priced stocks. “Whereas I do see a business that they know everything about, and where they may or may not be able to buy at an attractive price when they repurchase their shares.”
In other words, the business that looks most attractive for Apple to buy is Apple itself. “Like I say, [Apple CEO] Tim Cook can do simple math and he can probably do very complicated math too,” Buffett added. “So we very much approve of them repurchasing shares.”
Berkshire Hathaway’s 2018 Annual Meeting: 5 Takeaways
Warren Buffett had a few things to say.
By JEN WIECZNER May 7, 2018
Although Warren Buffett regrets not buying Google and Amazon stock, he isn’t making the same mistake with Apple.
After first investing in Apple in 2016, the iPhone maker is now the largest holding of Buffett’s Berkshire Hathaway, which owns a staggering 250 million Apple shares, Buffett said Saturday. That makes his Apple position worth about $46.3 billion at current prices.
But at the annual Berkshire Hathaway meeting in Omaha Saturday, Buffett faced questions about how he became so bullish on Apple (AAPL, -0.39%)—after famously avoiding tech stocks for most of his investing lifetime.
“I didn’t go into Apple because it was a tech stock in the least,” Buffett explained at the Berkshire meeting. “I went into Apple because I came to certain conclusions about both the intelligence with the capital they deploy, but more important the value of their ecosystem and how permanent that ecosystem could be.”
Apple, whose stock hit a new record high Monday, has been a major winner for Berkshire Hathaway: Apple’s stock price has roughly doubled in the two years since Berkshire initially disclosed its stake.
Buffett is a big fan of so-called economic moats, or advantages that allow companies to retain their customers despite the competition—which for Apple is the iPhone, he said. “We’re betting on the success of Apple products like the iPhone, and I see characteristics in that that make me think it’s extraordinary,” Buffett said.
But there’s another reason Buffett loves Apple besides its tech gadgets: Apple’s massive cash hoard, which allows it to buy back a lot of its own stock.
After offering its first stock buyback in August 2012, Apple has bought back $200 billion worth of stock, and just announced last week that it would repurchase an additional $100 billion in its shares.
While stock buybacks are a controversial way for companies to spend cash that they could otherwise invest in growth or acquisitions, Buffett said that in Apple’s case it makes sense.
“I think it’s extremely hard to find acquisitions that would be accretive to Apple that would be in the $50 billion, or $100 billion or $200 billion range,” Buffett said. “I’m delighted to see them repurchasing shares.”
Apple’s buybacks also mean that Berkshire Hathaway, which owns roughly 5% of Apple’s outstanding shares, could end up owning a larger percentage chunk of the tech company in the future—simply because there will be fewer shares left after Apple buys them up.
“I love the idea of having our 5% grow to 6 or 7% without us laying out a dime,” Buffett said. “It’s worked for us in many other situations.”
Although investors enjoy speculating on which companies Apple should acquire, Buffett, ironically, is quite pessimistic about its M&A potential.
“As I look around the horizon, I don’t see anything that would make a lot of sense for them [to buy] in terms of what they’d have to pay and what they would get,” said Buffett, who is known for investing in low-priced stocks. “Whereas I do see a business that they know everything about, and where they may or may not be able to buy at an attractive price when they repurchase their shares.”
In other words, the business that looks most attractive for Apple to buy is Apple itself. “Like I say, [Apple CEO] Tim Cook can do simple math and he can probably do very complicated math too,” Buffett added. “So we very much approve of them repurchasing shares.”
Iran foreign minister sets off on tour to save nuclear deal - Reuters
MAY 12, 2018 / 10:42 PM / UPDATED 22 MINUTES AGO
Iran foreign minister sets off on tour to save nuclear deal
Reuters Staff
DUBAI (Reuters) - Iran’s foreign minister embarks on a tour of world powers on Saturday, state media reported, in what is seen as a last-ditch effort to save Tehran’s nuclear deal after Washington’s withdrawal from the accord.
President Donald Trump pulled the United States out of the deal on Tuesday, raising the risk of conflict in the Middle East, upsetting European allies and casting uncertainty over global oil supplies.
Iran said it would remain committed to the deal without Washington if Tehran achieved its goals - namely being protected from sanctions against key sectors of its economy such as oil - in cooperation with other countries that have signed up to the agreement.
President Hassan Rouhani said he had asked Foreign Minister Mohammad Javad Zarif to negotiate with European countries, China and Russia in the coming weeks. “If at the end of this short period we conclude that we can fully benefit from the (nuclear accord ..., the deal would remain,” he said.
Zarif is due to leave for Beijing on Saturday and will later travel to Russia. He will then go to Brussels to meet counterparts from Germany, Britain and France “about the fate of the nuclear deal”, Iranian state television said.
“Iran has asked the European Union and particularly Germany, France and Britain to announce as soon as possible their stand on how Iran’s interests can be fulfilled and guaranteed under the nuclear agreement after America’s withdrawal,” the TV report said.
Europe’s largest economies lobbied to protect their companies’ investments in Iran on Friday, seeking to keep the nuclear deal with Tehran alive after Washington pulled out and threatened to impose sanctions on European companies.
Europe pushes back against U.S. withdrawal from Iran nuclear deal
Germany and France have significant trade links with Iran and remain committed to the nuclear agreement, as does Britain, and the three countries’ foreign ministers plan to meet on Tuesday to discuss it.
That is part of a flurry of diplomatic activity following Trump’s unilateral withdrawal from what he called “a horrible, one-sided deal”, a move accompanied by the threat of penalties against any foreign firms doing business in Iran.
Reporting by Dubai newsroom; Editing by Clelia Oziel
Iran foreign minister sets off on tour to save nuclear deal
Reuters Staff
DUBAI (Reuters) - Iran’s foreign minister embarks on a tour of world powers on Saturday, state media reported, in what is seen as a last-ditch effort to save Tehran’s nuclear deal after Washington’s withdrawal from the accord.
President Donald Trump pulled the United States out of the deal on Tuesday, raising the risk of conflict in the Middle East, upsetting European allies and casting uncertainty over global oil supplies.
Iran said it would remain committed to the deal without Washington if Tehran achieved its goals - namely being protected from sanctions against key sectors of its economy such as oil - in cooperation with other countries that have signed up to the agreement.
President Hassan Rouhani said he had asked Foreign Minister Mohammad Javad Zarif to negotiate with European countries, China and Russia in the coming weeks. “If at the end of this short period we conclude that we can fully benefit from the (nuclear accord ..., the deal would remain,” he said.
Zarif is due to leave for Beijing on Saturday and will later travel to Russia. He will then go to Brussels to meet counterparts from Germany, Britain and France “about the fate of the nuclear deal”, Iranian state television said.
“Iran has asked the European Union and particularly Germany, France and Britain to announce as soon as possible their stand on how Iran’s interests can be fulfilled and guaranteed under the nuclear agreement after America’s withdrawal,” the TV report said.
Europe’s largest economies lobbied to protect their companies’ investments in Iran on Friday, seeking to keep the nuclear deal with Tehran alive after Washington pulled out and threatened to impose sanctions on European companies.
Europe pushes back against U.S. withdrawal from Iran nuclear deal
Germany and France have significant trade links with Iran and remain committed to the nuclear agreement, as does Britain, and the three countries’ foreign ministers plan to meet on Tuesday to discuss it.
That is part of a flurry of diplomatic activity following Trump’s unilateral withdrawal from what he called “a horrible, one-sided deal”, a move accompanied by the threat of penalties against any foreign firms doing business in Iran.
Reporting by Dubai newsroom; Editing by Clelia Oziel
Europe has never been as disenchanted with the US as it is now, and the latest crusade against 'free-riding' patients in the EU so Americans pay less is going to have serious consequences - Independent
May 11, 2018
Trump's new crusade against the NHS has the potential to destroy his reputation in Europe once and for all
Europe has never been as disenchanted with the US as it is now, and the latest crusade against 'free-riding' patients in the EU so Americans pay less is going to have serious consequences
David Usborne @dusborne
Secretary of Health and Human Services Alex Azar looks on as President Donald Trump speaks during an event about prescription drug prices in the Rose Garden of the White House, Friday
Top US nuclear expert quits after Trump pulls out of Iran deal
There’s lots of chatter in the travel blogs about low fares from the US to Europe this summer and how Americans should rush to take advantage. Many will and I wish them a lovely time. But maybe they should steer clear of politics lest their hosts give them a roasting they won’t forget.
Some more seasoned American travellers will recall there have been other moments in time when a trip across the pond carried the risk of being lectured upon arrival about the errors of their country’s ways, notably during the Bush-Cheney era and the war in Iraq.
With you-know-who in the White House now, we almost forget how divisive a time that was, some of us even catching ourselves reflecting that old George W was a decent sort really. You know, by comparison. But then last week’s confirmation hearings on Capitol Hill for Gina Haspel to become the next director of the CIA jolted us out of that little daydream.
We were reminded all at once about the last time the United States showed itself willing to forsake all the norms of diplomacy and ties of friendship with so many allies to pursue its own obsessions. There was the illegal invasion of Iraq, of course. But it was the setting up of black site prisons and the torture of terror suspects that really saw it part with its better angels.
Haspel oversaw one of those torture resorts. It was located in Thailand. We also know she was involved in the deliberate destruction of videotapes that would have shown the extent of the brutality visited upon two prisoners, Abu Zubaydah and Abd al-Rahim al-Nashiri. It is why John McCain, ailing and confined to his home in Arizona, made it clear that he would could not support her confirmation. McCain, of course, personally experienced torture in Vietnam.
That she said she would never let the CIA resume torture under her watch hardly impressed the senator. He needed more. “Her refusal to acknowledge torture’s immorality is disqualifying,” McCain wrote in a statement after watching her testimony in her hearing. “I believe the Senate should exercise its duty of advice and consent and reject this nomination.”
Nigel Farage to start petition to secure Donald Trump the Nobel Peace
Trump-Pence seems bent on outdoing even Bush-Cheney in fomenting disdain of America in Europe. Again, we only have to look at last week to see the evidence, starting with the decision not just to ditch the 2015 nuclear deal with Iran that several European nations, including Britain, helped to negotiate and fervently wanted it to protect but also making clear that they intend to punish European companies doing business in Iran whatever the position of their governments.
It says a lot about the renewed rot in trans-Atlantic ties when Germany’s Angela Merkel feels compelled to say it’s time to unhitch as she did on Thursday. “It is no longer such that the United States simply protects us, but Europe must take its destiny in its own hands. That’s the task of the future,“ she said in a speech honouring French president Emanuel Macron, who responded saying much the same thing. European nations, he said, cannot allow “other major powers, including allies“ to “put themselves in a situation to decide our diplomacy [and] security for us”.
Guillaume Xavier-Bender, a nonresident fellow of American think-tank German Marshall Fund, observed: “To anyone who has ever played the game Jenga, President Trump’s announcement … felt as if he just withdrew that block that seemed a little loose but still under enough pressure not to be removed in full confidence. At Jenga, you pull the wrong block, and the entire tower crumbles.”
These are the professional classes grousing. What about everyone else? Will ordinary Britons be disgusted enough with Trump to fill the streets when he visits in July, like they did over the Iraq War or Ronald Reagan’s deployment of Pershing II and cruise missiles in Europe in 1983?
Trump is doing his best to ensure dislike of him filters to all levels. Take the current Irn-Bru brouhaha in Scotland. A beverage of dubious nutritional value, Irn-Bru is nonetheless close to many Scots’ hearts. It can, however, leave a deep orange stain when spilled. Hence Trump’s golf resort and hotel in Turnberry deciding to ban it from its premises. To protect the tartan integrity of their carpets. Some north of the border consider it an egregious incitement, however.
So, alright, that’s not really a thing. But how about Trump’s newest crusade, this time to force patients in “socialised” health systems in Europe to pay more for their prescription drugs so Americans can start paying less. He reasons that the Europeans have long been “free-riding” by underpaying for drugs, thanks to price-setting by their governments. Americans pay more, even though it’s their pharmaceutical companies that developed them. He’ll use trade deals to try to stop it happening, like the one Britain must soon start negotiating. It’s not just Europe’s diplomacy he’s messing with. Now it’s its healthcare too.
We should revoke Trump’s Scottish golf course licence
Trump says America ‘is being respected again’
Israel has no real desire for armed conflict with Iran
It’s that America First thing. “When foreign governments extort unreasonably low prices from US drug makers, Americans have to pay more to subsidise the enormous cost of research and development,” Trump declared Friday on the White House lawn. He didn’t mention the NHS directly, but it’s clear that healthcare systems in Britain, the rest of Europe and in Canada too were on his mind. America’s trading partners “need to pay more because they’re using socialist price controls, market access controls, to get unfair pricing,” added Alex Azar, the US health secretary, who was standing alongside him.
Is Trump the most hated US president in Europe ever? You tell me (but try not to be too beastly to any American visitors you encounter this summer). Or maybe he has a ways to go yet. Because Reagan and George W Bush didn’t exactly endear themselves either, if you recall.
Trump's new crusade against the NHS has the potential to destroy his reputation in Europe once and for all
Europe has never been as disenchanted with the US as it is now, and the latest crusade against 'free-riding' patients in the EU so Americans pay less is going to have serious consequences
David Usborne @dusborne
Secretary of Health and Human Services Alex Azar looks on as President Donald Trump speaks during an event about prescription drug prices in the Rose Garden of the White House, Friday
Top US nuclear expert quits after Trump pulls out of Iran deal
There’s lots of chatter in the travel blogs about low fares from the US to Europe this summer and how Americans should rush to take advantage. Many will and I wish them a lovely time. But maybe they should steer clear of politics lest their hosts give them a roasting they won’t forget.
Some more seasoned American travellers will recall there have been other moments in time when a trip across the pond carried the risk of being lectured upon arrival about the errors of their country’s ways, notably during the Bush-Cheney era and the war in Iraq.
With you-know-who in the White House now, we almost forget how divisive a time that was, some of us even catching ourselves reflecting that old George W was a decent sort really. You know, by comparison. But then last week’s confirmation hearings on Capitol Hill for Gina Haspel to become the next director of the CIA jolted us out of that little daydream.
We were reminded all at once about the last time the United States showed itself willing to forsake all the norms of diplomacy and ties of friendship with so many allies to pursue its own obsessions. There was the illegal invasion of Iraq, of course. But it was the setting up of black site prisons and the torture of terror suspects that really saw it part with its better angels.
Haspel oversaw one of those torture resorts. It was located in Thailand. We also know she was involved in the deliberate destruction of videotapes that would have shown the extent of the brutality visited upon two prisoners, Abu Zubaydah and Abd al-Rahim al-Nashiri. It is why John McCain, ailing and confined to his home in Arizona, made it clear that he would could not support her confirmation. McCain, of course, personally experienced torture in Vietnam.
That she said she would never let the CIA resume torture under her watch hardly impressed the senator. He needed more. “Her refusal to acknowledge torture’s immorality is disqualifying,” McCain wrote in a statement after watching her testimony in her hearing. “I believe the Senate should exercise its duty of advice and consent and reject this nomination.”
Nigel Farage to start petition to secure Donald Trump the Nobel Peace
Trump-Pence seems bent on outdoing even Bush-Cheney in fomenting disdain of America in Europe. Again, we only have to look at last week to see the evidence, starting with the decision not just to ditch the 2015 nuclear deal with Iran that several European nations, including Britain, helped to negotiate and fervently wanted it to protect but also making clear that they intend to punish European companies doing business in Iran whatever the position of their governments.
It says a lot about the renewed rot in trans-Atlantic ties when Germany’s Angela Merkel feels compelled to say it’s time to unhitch as she did on Thursday. “It is no longer such that the United States simply protects us, but Europe must take its destiny in its own hands. That’s the task of the future,“ she said in a speech honouring French president Emanuel Macron, who responded saying much the same thing. European nations, he said, cannot allow “other major powers, including allies“ to “put themselves in a situation to decide our diplomacy [and] security for us”.
Guillaume Xavier-Bender, a nonresident fellow of American think-tank German Marshall Fund, observed: “To anyone who has ever played the game Jenga, President Trump’s announcement … felt as if he just withdrew that block that seemed a little loose but still under enough pressure not to be removed in full confidence. At Jenga, you pull the wrong block, and the entire tower crumbles.”
These are the professional classes grousing. What about everyone else? Will ordinary Britons be disgusted enough with Trump to fill the streets when he visits in July, like they did over the Iraq War or Ronald Reagan’s deployment of Pershing II and cruise missiles in Europe in 1983?
Trump is doing his best to ensure dislike of him filters to all levels. Take the current Irn-Bru brouhaha in Scotland. A beverage of dubious nutritional value, Irn-Bru is nonetheless close to many Scots’ hearts. It can, however, leave a deep orange stain when spilled. Hence Trump’s golf resort and hotel in Turnberry deciding to ban it from its premises. To protect the tartan integrity of their carpets. Some north of the border consider it an egregious incitement, however.
So, alright, that’s not really a thing. But how about Trump’s newest crusade, this time to force patients in “socialised” health systems in Europe to pay more for their prescription drugs so Americans can start paying less. He reasons that the Europeans have long been “free-riding” by underpaying for drugs, thanks to price-setting by their governments. Americans pay more, even though it’s their pharmaceutical companies that developed them. He’ll use trade deals to try to stop it happening, like the one Britain must soon start negotiating. It’s not just Europe’s diplomacy he’s messing with. Now it’s its healthcare too.
We should revoke Trump’s Scottish golf course licence
Trump says America ‘is being respected again’
Israel has no real desire for armed conflict with Iran
It’s that America First thing. “When foreign governments extort unreasonably low prices from US drug makers, Americans have to pay more to subsidise the enormous cost of research and development,” Trump declared Friday on the White House lawn. He didn’t mention the NHS directly, but it’s clear that healthcare systems in Britain, the rest of Europe and in Canada too were on his mind. America’s trading partners “need to pay more because they’re using socialist price controls, market access controls, to get unfair pricing,” added Alex Azar, the US health secretary, who was standing alongside him.
Is Trump the most hated US president in Europe ever? You tell me (but try not to be too beastly to any American visitors you encounter this summer). Or maybe he has a ways to go yet. Because Reagan and George W Bush didn’t exactly endear themselves either, if you recall.
1MDB: The case that has riveted Malaysia - BBC News
1MDB: The case that has riveted Malaysia
22 July 2016
Mr Najib has denied all wrongdoing after reports that almost $700m (£450m) were transfered into his personal account
The scandal surrounding Malaysia's state development fund 1MDB has gripped the country for years.
Now the US has said it is moving to seize more than $1bn (£761m) in assets, ranging from plush properties to a private jet, from people connected to the country's Prime Minister Najib Razak.
The asset seizure by the US would be the largest ever by the Justice Department's anti-corruption unit.
This is how the story has played out so far.
What is the controversy about?
1Malaysia Development Bhd, set up by Mr Najib in 2009, was meant to turn Kuala Lumpur into a financial hub and boost the economy through strategic investments.
But it started to attract negative attention in early 2015 after it missed payments for some of the $11bn it owed to banks and bondholders.
Then the Wall Street Journal (WSJ) reported it had seen a paper trail that allegedly traced close to $700m from the fund to Mr Najib's personal bank accounts.
Why is the US intervening now?
The Department of Justice alleges $3.5bn (£2.6bn) was misappropriated from 1MDB.
"The Malaysian people were defrauded on an enormous scale," Deputy FBI Director Andrew McCabe said at a news conference.
Mr Najib is not named in the suit. But it refers to "Malaysian Official 1", described as "a high-ranking official in the Malaysian government who also held a position of authority with 1MDB".
The move reflects an intention by the US to open new fronts in its fight against illicit finance.
It also sets up a rare confrontations between the US and Malaysia, which is considered an important partner in the fight against terrorism.
What do people involved say?
1MDB responded to the US papers by saying it had not benefited from the various transactions described in the suit.
The fund has repeatedly asserted that it has never given money to the prime minister and called the claims "unsubstantiated".
Mr Najib has also consistently denied taking money from 1MDB or any public funds.
His office said Malaysia had "led the way in investigations into 1MDB" and would "fully co-operate with any lawful investigation".
Is anyone else involved?
Mr Najib has accused his fiercest critic, former Prime Minister Mahathir Mohamad, of using the scandal as a means of "political sabotage".
He claims Mr Mahathir worked "hand in glove" with foreigners as part of a campaign "to topple a democratically elected prime minister."
The BBC put Mr Najib's allegations to Mr Mahathir, who dismissed the claims. Instead, he called on the prime minister to show proof that he didn't pocket state funds.
Over the last year, Mr Najib has also sacked his deputy Muhyiddin Yassin and replaced the former attorney-general over critical comments they made about the scandal.
Authorities seized computers when they raided 1MDB offices
There have been multiple domestic official investigations into the 1MDB fund, including a special task force headed by the attorney general. The team raided the office of 1MDB in 2015 and took away some documents.
But the replacement attorney general cleared Mr Najib of wrongdoing in January.
Multiple foreign authorities have also been investigating the company.
In May, Singapore ordered Swiss bank BSI to shut down in the city-state for breaking its money-laundering laws in its dealings with 1MDB.
Swiss authorities have opened criminal proceedings related to 1MDB on "suspected corruption of public foreign officials, dishonest management of public interests and money laundering".
What do Malaysians think about it?
Former Prime Minister Mahathir Mohamad said Malaysians should push for a referendum on the prime minister's leadership.
Opposition leader in parliament, Wan Azizah Wan Ismail, called upon Mr Najib to give a full explanation in parliament and go on leave so a full probe could take place.
Civil society group Bersih said Mr Najib and the attorney-general who in January had cleared the prime minister should both resign immediately to make way for independent investigations.
The 1MDB controversy has frustrated many Malaysians who are struggling with the rising cost of living and what is perceived to be ingrained corruption in its political system.
Last year tens of thousands of protesters took to the streets calling for the resignation of the PM.
However, thousands have also rallied in support of the government.
The reaction on Thursday to the US move was muted in both Malaysia's mainstream newspapers and social media.
Malaysia's government has cracked down on reporting of the 1MDB scandal, blocking access to certain online news portals and targeting media groups and journalists.
22 July 2016
Mr Najib has denied all wrongdoing after reports that almost $700m (£450m) were transfered into his personal account
The scandal surrounding Malaysia's state development fund 1MDB has gripped the country for years.
Now the US has said it is moving to seize more than $1bn (£761m) in assets, ranging from plush properties to a private jet, from people connected to the country's Prime Minister Najib Razak.
The asset seizure by the US would be the largest ever by the Justice Department's anti-corruption unit.
This is how the story has played out so far.
What is the controversy about?
1Malaysia Development Bhd, set up by Mr Najib in 2009, was meant to turn Kuala Lumpur into a financial hub and boost the economy through strategic investments.
But it started to attract negative attention in early 2015 after it missed payments for some of the $11bn it owed to banks and bondholders.
Then the Wall Street Journal (WSJ) reported it had seen a paper trail that allegedly traced close to $700m from the fund to Mr Najib's personal bank accounts.
Why is the US intervening now?
The Department of Justice alleges $3.5bn (£2.6bn) was misappropriated from 1MDB.
"The Malaysian people were defrauded on an enormous scale," Deputy FBI Director Andrew McCabe said at a news conference.
Mr Najib is not named in the suit. But it refers to "Malaysian Official 1", described as "a high-ranking official in the Malaysian government who also held a position of authority with 1MDB".
The move reflects an intention by the US to open new fronts in its fight against illicit finance.
It also sets up a rare confrontations between the US and Malaysia, which is considered an important partner in the fight against terrorism.
What do people involved say?
1MDB responded to the US papers by saying it had not benefited from the various transactions described in the suit.
The fund has repeatedly asserted that it has never given money to the prime minister and called the claims "unsubstantiated".
Mr Najib has also consistently denied taking money from 1MDB or any public funds.
His office said Malaysia had "led the way in investigations into 1MDB" and would "fully co-operate with any lawful investigation".
Is anyone else involved?
Mr Najib has accused his fiercest critic, former Prime Minister Mahathir Mohamad, of using the scandal as a means of "political sabotage".
He claims Mr Mahathir worked "hand in glove" with foreigners as part of a campaign "to topple a democratically elected prime minister."
The BBC put Mr Najib's allegations to Mr Mahathir, who dismissed the claims. Instead, he called on the prime minister to show proof that he didn't pocket state funds.
Over the last year, Mr Najib has also sacked his deputy Muhyiddin Yassin and replaced the former attorney-general over critical comments they made about the scandal.
Authorities seized computers when they raided 1MDB offices
There have been multiple domestic official investigations into the 1MDB fund, including a special task force headed by the attorney general. The team raided the office of 1MDB in 2015 and took away some documents.
But the replacement attorney general cleared Mr Najib of wrongdoing in January.
Multiple foreign authorities have also been investigating the company.
In May, Singapore ordered Swiss bank BSI to shut down in the city-state for breaking its money-laundering laws in its dealings with 1MDB.
Swiss authorities have opened criminal proceedings related to 1MDB on "suspected corruption of public foreign officials, dishonest management of public interests and money laundering".
What do Malaysians think about it?
Former Prime Minister Mahathir Mohamad said Malaysians should push for a referendum on the prime minister's leadership.
Opposition leader in parliament, Wan Azizah Wan Ismail, called upon Mr Najib to give a full explanation in parliament and go on leave so a full probe could take place.
Civil society group Bersih said Mr Najib and the attorney-general who in January had cleared the prime minister should both resign immediately to make way for independent investigations.
The 1MDB controversy has frustrated many Malaysians who are struggling with the rising cost of living and what is perceived to be ingrained corruption in its political system.
Last year tens of thousands of protesters took to the streets calling for the resignation of the PM.
However, thousands have also rallied in support of the government.
The reaction on Thursday to the US move was muted in both Malaysia's mainstream newspapers and social media.
Malaysia's government has cracked down on reporting of the 1MDB scandal, blocking access to certain online news portals and targeting media groups and journalists.
US looks to seize $540m in 'stolen' assets from Malaysia fund 1MDB - BBC News
US looks to seize $540m in 'stolen' assets from Malaysia fund 1MDB
16 June 2017
Picasso's painting titled 'Nature Morte au Crane de Taureau' was allegedly bought with stolen money
US authorities are moving to seize a Picasso painting, a luxury apartment in Manhattan, and the movie rights to 'Dumb and Dumber To' as part of a global money laundering investigation.
The Department of Justice alleges more than $4.5bn (£3.5bn) was stolen from Malaysian sovereign wealth fund 1MDB by public officials and their associates.
Their latest lawsuit is looking to recover an additional $540m in assets linked to the scandal-ridden fund.
1MDB routinely denies any misconduct.
The case continues to place pressure on Malaysian Prime Minister Najib Razak, who was identified as 'Official 1' in the DoJ filings.
There have been large street protests in the capital Kuala Lumpur in recent years calling for Mr Najib, who used to chair 1MDB's advisory board, to step down.
The scandal has also spawned investigations in at least five countries including Singapore, Hong Kong and Switzerland.
Mr Najib has consistently denied corruption allegations and an investigation by the country's attorney-general also cleared him of any wrongdoing.
The investigation of 1MDB has brought pressure on Malaysian Prime Minister Najib Razak.
"These cases involve billions of dollars that should have been used to help the people of Malaysia, but instead was used by a small number of individuals to fuel their astonishing greed," said Sandra Brown, an acting US attorney.
"We simply will not allow the United States to be a place where corrupt individuals can expect to hide assets and lavishly spend money that should be used for the benefit of citizens of other nations."
A press secretary for Mr Najib said in a statement that the government would co-operate with any "lawful" investigation, but stressed that the US claims remain unproven.
The secretary, Datuk Seri Tengku Sariffuddin, also said there was "unnecessary and gratuitous naming" in the case.
"Malaysia stands firm in its support of transparency and good governance," he said. "That includes ensuring that accusations have a basis in fact, rather than smears briefed by political opponents."
Where did the money go?
Overall, the DoJ has filed complaints to recover more than $1.7bn worth of funds allegedly pilfered from 2009 through 2015.
In court papers submitted on Thursday, prosecutors said some of the stolen money was used to buy a pink diamond necklace for Mr Najib's wife and a 300-foot luxury yacht called The Equanimity that comes with a helicopter launching pad and movie theatre.
Stolen funds were also used to buy the Picasso painting 'Nature Morte au Crane de Taureau', which was later given to actor Leonardo DiCaprio as a birthday gift.
The money was also used to fund Hollywood films including 'The Wolf of Wall Street' and the Jim Carrey movie 'Dumb and Dumber To'.
Red Granite Pictures, which financed both of those films and was founded by Mr Najib's stepson, is currently in settlement talks.
Attorney Jim Bates, who represents the firm, said it is "fully co-operating" and remains an active production company.
Mr DiCaprio, who starred in the Wolf of Wall Street, said last year he was co-operating with the investigation and would return any gifts tied to the fund.
Those named in earlier complaints, including the family of Malaysian financier Jho Low, who authorities say was a key player in the affair, have fought the seizures.
16 June 2017
Picasso's painting titled 'Nature Morte au Crane de Taureau' was allegedly bought with stolen money
US authorities are moving to seize a Picasso painting, a luxury apartment in Manhattan, and the movie rights to 'Dumb and Dumber To' as part of a global money laundering investigation.
The Department of Justice alleges more than $4.5bn (£3.5bn) was stolen from Malaysian sovereign wealth fund 1MDB by public officials and their associates.
Their latest lawsuit is looking to recover an additional $540m in assets linked to the scandal-ridden fund.
1MDB routinely denies any misconduct.
The case continues to place pressure on Malaysian Prime Minister Najib Razak, who was identified as 'Official 1' in the DoJ filings.
There have been large street protests in the capital Kuala Lumpur in recent years calling for Mr Najib, who used to chair 1MDB's advisory board, to step down.
The scandal has also spawned investigations in at least five countries including Singapore, Hong Kong and Switzerland.
Mr Najib has consistently denied corruption allegations and an investigation by the country's attorney-general also cleared him of any wrongdoing.
The investigation of 1MDB has brought pressure on Malaysian Prime Minister Najib Razak.
"These cases involve billions of dollars that should have been used to help the people of Malaysia, but instead was used by a small number of individuals to fuel their astonishing greed," said Sandra Brown, an acting US attorney.
"We simply will not allow the United States to be a place where corrupt individuals can expect to hide assets and lavishly spend money that should be used for the benefit of citizens of other nations."
A press secretary for Mr Najib said in a statement that the government would co-operate with any "lawful" investigation, but stressed that the US claims remain unproven.
The secretary, Datuk Seri Tengku Sariffuddin, also said there was "unnecessary and gratuitous naming" in the case.
"Malaysia stands firm in its support of transparency and good governance," he said. "That includes ensuring that accusations have a basis in fact, rather than smears briefed by political opponents."
Where did the money go?
Overall, the DoJ has filed complaints to recover more than $1.7bn worth of funds allegedly pilfered from 2009 through 2015.
In court papers submitted on Thursday, prosecutors said some of the stolen money was used to buy a pink diamond necklace for Mr Najib's wife and a 300-foot luxury yacht called The Equanimity that comes with a helicopter launching pad and movie theatre.
Stolen funds were also used to buy the Picasso painting 'Nature Morte au Crane de Taureau', which was later given to actor Leonardo DiCaprio as a birthday gift.
The money was also used to fund Hollywood films including 'The Wolf of Wall Street' and the Jim Carrey movie 'Dumb and Dumber To'.
Red Granite Pictures, which financed both of those films and was founded by Mr Najib's stepson, is currently in settlement talks.
Attorney Jim Bates, who represents the firm, said it is "fully co-operating" and remains an active production company.
Mr DiCaprio, who starred in the Wolf of Wall Street, said last year he was co-operating with the investigation and would return any gifts tied to the fund.
Those named in earlier complaints, including the family of Malaysian financier Jho Low, who authorities say was a key player in the affair, have fought the seizures.
Former Malaysia PM Najib Razak banned from leaving country - BBC News
May 12, 2018
Former Malaysia PM Najib Razak banned from leaving country
Najib Razak and his wife Rosmah Mansor had planned to go on an overseas holiday
Ex-Malaysian Prime Minister Najib Razak has been banned from leaving the country, immigration officials say.
It comes after Mr Najib said that he and his wife were planning to go on an overseas holiday on Saturday.
Earlier this week, Mr Najib's long-ruling Barisan Nasional coalition suffered a shock electoral defeat.
Mr Najib has been accused of diverting $700m (£517m) from a state investment fund in 2015, but has since been cleared by the authorities.
However Malaysia's new Prime Minister Mahathir Mohamad, who at 92 became the world's oldest elected leader when he was sworn in on Thursday, has said that Mr Najib could face a fresh investigation if sufficient evidence supports it.
Mr Mahathir has said that investigations will take place into alleged corruption in the country, including the case involving the state investment fund.
What just happened?
'The biggest mistake in my life'
Mahathir: 'There are two types of age'
Mahathir Mohamad said he believed Malaysia "can get most of the 1MDB money back"
Mr Mahathir stood down as prime minister 15 years ago, but came out of retirement and defected to the opposition to take on and beat former protégé Najib Razak.
He appears to be making good on a promise, made during his election, to release imprisoned former political leader Anwar Ibrahim.
Who is Anwar Ibrahim?
Mr Anwar's daughter, Nurul Izzah, on Saturday confirmed reports that her father will "receive a full royal pardon" and is due to be released on Tuesday.
Mr Anwar was once Mr Mahathir's deputy, but was jailed on widely-criticised charges of sodomy and corruption amid bitter tensions between the two men.
How has Mr Najib reacted to his travel ban?
In a tweet (in Malay), he said he had been informed by the immigration authorities that he and his family would not be allowed to travel abroad.
He gave no reasons for the authorities' decision, but said he would abide by it.
He has also announced he is quitting as chairman of the Barisan Nasional coalition and as president of his United Malay National Organisation party.
Mr Najib, 64, had said earlier that he and his wife Rosmah Mansor would go on a holiday on Saturday.
It is believed they intended to fly to Jakarta, the capital of Indonesia.
What about the corruption scandal?
Mr Najib had faced accusations of corruption and mismanagement over the state investment fund 1Malaysia Development Berhad (1MDB).
The scandal has gripped the country for years.
1MDB, set up by Mr Najib in 2009, was meant to turn Kuala Lumpur into a financial hub and boost the economy through strategic investments.
But it started to attract negative attention in early 2015 after it missed payments for some of the $11bn it owed to banks and bondholders.
Then the Wall Street Journal (WSJ) reported it had seen a paper trail that allegedly traced close to $700m from the fund to Mr Najib's personal bank accounts.
Mr Najib has consistently denied taking money from 1MDB or any public funds.
After being sworn in as new prime minister, Mr Mahathir said he would seek the return of millions of dollars lost in the scandal.
1MDB: The case that's riveting Malaysia
1MDB: The United States v The Wolf of Wall Street
US looks to seize $540m in 'stolen' assets from Malaysia fund 1MDB
Former Malaysia PM Najib Razak banned from leaving country
Najib Razak and his wife Rosmah Mansor had planned to go on an overseas holiday
Ex-Malaysian Prime Minister Najib Razak has been banned from leaving the country, immigration officials say.
It comes after Mr Najib said that he and his wife were planning to go on an overseas holiday on Saturday.
Earlier this week, Mr Najib's long-ruling Barisan Nasional coalition suffered a shock electoral defeat.
Mr Najib has been accused of diverting $700m (£517m) from a state investment fund in 2015, but has since been cleared by the authorities.
However Malaysia's new Prime Minister Mahathir Mohamad, who at 92 became the world's oldest elected leader when he was sworn in on Thursday, has said that Mr Najib could face a fresh investigation if sufficient evidence supports it.
Mr Mahathir has said that investigations will take place into alleged corruption in the country, including the case involving the state investment fund.
What just happened?
'The biggest mistake in my life'
Mahathir: 'There are two types of age'
Mahathir Mohamad said he believed Malaysia "can get most of the 1MDB money back"
Mr Mahathir stood down as prime minister 15 years ago, but came out of retirement and defected to the opposition to take on and beat former protégé Najib Razak.
He appears to be making good on a promise, made during his election, to release imprisoned former political leader Anwar Ibrahim.
Who is Anwar Ibrahim?
Mr Anwar's daughter, Nurul Izzah, on Saturday confirmed reports that her father will "receive a full royal pardon" and is due to be released on Tuesday.
Mr Anwar was once Mr Mahathir's deputy, but was jailed on widely-criticised charges of sodomy and corruption amid bitter tensions between the two men.
How has Mr Najib reacted to his travel ban?
In a tweet (in Malay), he said he had been informed by the immigration authorities that he and his family would not be allowed to travel abroad.
He gave no reasons for the authorities' decision, but said he would abide by it.
He has also announced he is quitting as chairman of the Barisan Nasional coalition and as president of his United Malay National Organisation party.
Mr Najib, 64, had said earlier that he and his wife Rosmah Mansor would go on a holiday on Saturday.
It is believed they intended to fly to Jakarta, the capital of Indonesia.
What about the corruption scandal?
Mr Najib had faced accusations of corruption and mismanagement over the state investment fund 1Malaysia Development Berhad (1MDB).
The scandal has gripped the country for years.
1MDB, set up by Mr Najib in 2009, was meant to turn Kuala Lumpur into a financial hub and boost the economy through strategic investments.
But it started to attract negative attention in early 2015 after it missed payments for some of the $11bn it owed to banks and bondholders.
Then the Wall Street Journal (WSJ) reported it had seen a paper trail that allegedly traced close to $700m from the fund to Mr Najib's personal bank accounts.
Mr Najib has consistently denied taking money from 1MDB or any public funds.
After being sworn in as new prime minister, Mr Mahathir said he would seek the return of millions of dollars lost in the scandal.
1MDB: The case that's riveting Malaysia
1MDB: The United States v The Wolf of Wall Street
US looks to seize $540m in 'stolen' assets from Malaysia fund 1MDB
North Korea: UN gains 'unprecedented access' during visit - BBC News
May 12, 2018
North Korea: UN gains 'unprecedented access' during visit
People are going hungry in North Korea, the head of the WFP said, but are not starving
The head of the UN's World Food Programme (WFP) believes there is a "sense of optimism" among North Korea's leaders after enjoying what he said was unprecedented access to the country.
David Beasley spent two days in the capital, Pyongyang, and two outside it, accompanied by government minders.
He said the country was working hard to meet nutritional standards, and hunger was not as high as in the 1990s.
"There is a sense of turning a new page in history," he told the BBC.
Relations between North Korea and the rest of the world have seen a dramatic shift.
Last year the North Korean government carried out a string of nuclear and missile tests.
But next month, its leader Kim Jong-un will meet US President Donald Trump, in what would be the first time a sitting US president has ever met a North Korean leader.
Confirmation of the meeting came after landmark talks between North and South Korea. Mr Trump announced the details of the meeting - in Singapore on 12 June - earlier this week, hours after he welcomed home three US detainees released from North Korea.
Will historic summit lead to peace?
The Koreas - the basics explained
What did the UN see in North Korea?
David Beasley visited North Korea from 8-11 May. The visit included trips to WFP-funded projects - a children's nursery in South Hwanghae province and a fortified biscuit factory in North Pyongyan province.
He told the BBC's Radio 4 programme Today that the farming he saw in the countryside reflected the fact that only about a fifth of the land is arable.
"One of the most powerful things that I saw was out in the countryside - it's spring, they're planting - there's not mechanisation, you've got oxen pulling ploughs, men and women in the fields," he said.
Image copyrightWFP/SILKE BUHR
Image caption
David Beasley visited WFP programmes in the North Korean countryside
"It's very structured, very organised, every foot and inch of dirt is being toiled with rakes and hoes and shovels and they're literally planting crops up to the edge of the road, down embankments, using every available space, because it is a land that's mostly mountainous.
"I didn't see starvation like you had in the famine back in the 1990s, that's the good news. But is there a hunger issue, is there under-nutrition? There's no question about it."
Between 1994 and 1998, hundreds of thousands of people are believed to have died in North Korea in a widespread famine.
After drought last year, the UN said seven in 10 North Koreans were relying on food aid, while four in 10 were malnourished.
Two in five N Koreans 'undernourished'
UN sounds alarm over N Korea drought
Last month the UN requested $111m in aid funding to help people in North Korea. The US has offered to help rebuild the country, on condition of denuclearisation.
How do North and South Korean economies compare?
Daily life in the two countries couldn't be more different.
Media captionFour defectors talk about what life is like in North Korea
After the end of the Korean war in 1953 the South, an ally of the US, embraced a capitalist philosophy. It has developed into one of Asia's most affluent nations.
A government-sponsored industrial push in the 1960s led to huge corporations like Samsung and Hyundai being created.
Key figures:
Population: 51.2m in South Korea; 25.4m in North Korea
GDP: $1.4tn - South Korea; less than $20bn - North Korea
Life expectancy: 82 years - South Korea; 70 years - North Korea
South Korea is one of the world's top 20 economies, with GDP of $1.4tn (£1tn).
By contrast, North Korea's GDP is less than $20bn, placing it well outside the top 100 economies.
It has a communist system, but capitalism is creeping into the country.
There are things to buy - but only for some people, those who have money. The majority of people in North Korea live in poverty.
Kim Jong-un has made clear that development is a priority.
North Korea: UN gains 'unprecedented access' during visit
People are going hungry in North Korea, the head of the WFP said, but are not starving
The head of the UN's World Food Programme (WFP) believes there is a "sense of optimism" among North Korea's leaders after enjoying what he said was unprecedented access to the country.
David Beasley spent two days in the capital, Pyongyang, and two outside it, accompanied by government minders.
He said the country was working hard to meet nutritional standards, and hunger was not as high as in the 1990s.
"There is a sense of turning a new page in history," he told the BBC.
Relations between North Korea and the rest of the world have seen a dramatic shift.
Last year the North Korean government carried out a string of nuclear and missile tests.
But next month, its leader Kim Jong-un will meet US President Donald Trump, in what would be the first time a sitting US president has ever met a North Korean leader.
Confirmation of the meeting came after landmark talks between North and South Korea. Mr Trump announced the details of the meeting - in Singapore on 12 June - earlier this week, hours after he welcomed home three US detainees released from North Korea.
Will historic summit lead to peace?
The Koreas - the basics explained
What did the UN see in North Korea?
David Beasley visited North Korea from 8-11 May. The visit included trips to WFP-funded projects - a children's nursery in South Hwanghae province and a fortified biscuit factory in North Pyongyan province.
He told the BBC's Radio 4 programme Today that the farming he saw in the countryside reflected the fact that only about a fifth of the land is arable.
"One of the most powerful things that I saw was out in the countryside - it's spring, they're planting - there's not mechanisation, you've got oxen pulling ploughs, men and women in the fields," he said.
Image copyrightWFP/SILKE BUHR
Image caption
David Beasley visited WFP programmes in the North Korean countryside
"It's very structured, very organised, every foot and inch of dirt is being toiled with rakes and hoes and shovels and they're literally planting crops up to the edge of the road, down embankments, using every available space, because it is a land that's mostly mountainous.
"I didn't see starvation like you had in the famine back in the 1990s, that's the good news. But is there a hunger issue, is there under-nutrition? There's no question about it."
Between 1994 and 1998, hundreds of thousands of people are believed to have died in North Korea in a widespread famine.
After drought last year, the UN said seven in 10 North Koreans were relying on food aid, while four in 10 were malnourished.
Two in five N Koreans 'undernourished'
UN sounds alarm over N Korea drought
Last month the UN requested $111m in aid funding to help people in North Korea. The US has offered to help rebuild the country, on condition of denuclearisation.
How do North and South Korean economies compare?
Daily life in the two countries couldn't be more different.
Media captionFour defectors talk about what life is like in North Korea
After the end of the Korean war in 1953 the South, an ally of the US, embraced a capitalist philosophy. It has developed into one of Asia's most affluent nations.
A government-sponsored industrial push in the 1960s led to huge corporations like Samsung and Hyundai being created.
Key figures:
Population: 51.2m in South Korea; 25.4m in North Korea
GDP: $1.4tn - South Korea; less than $20bn - North Korea
Life expectancy: 82 years - South Korea; 70 years - North Korea
South Korea is one of the world's top 20 economies, with GDP of $1.4tn (£1tn).
By contrast, North Korea's GDP is less than $20bn, placing it well outside the top 100 economies.
It has a communist system, but capitalism is creeping into the country.
There are things to buy - but only for some people, those who have money. The majority of people in North Korea live in poverty.
Kim Jong-un has made clear that development is a priority.
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