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Breaking NewsMassachusetts NewsPolice Blotter

Man Arrested for Robbery and Home Invasion in Dorchester

by Leo Canega June 20, 2023
By Leo Canega

DORCHESTER, MA – At around 1:20 PM on Friday, officers from the District B-3 Anti-Crime Unit arrested 32-year-old Tyrone Shorter.

Shorter was apprehended based on a warrant for charges including armed and masked robbery, unlawful possession of a firearm, assault with a dangerous weapon, and home invasion.

The incident occurred on Wednesday, when Shorter allegedly forced his way into a residence at 9 Esmond Street, brandishing a firearm and leaving with a safe containing about $600.

June 20, 2023 0 comments
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Breaking NewsMassachusetts NewsPolice Blotter

Man Arrested in Roxbury Drug Operation

by Leo Canega June 20, 2023
By Leo Canega

ROXBURY, MA – At around 2:56 PM on Friday, Districts D-4 (South End) and A-7 (East Boston) Drug Control Units arrested Michael Lockley, a 65-year-old Roxbury resident.

The arrest occurred during a search operation at 131 Eustis Street, where officers found plastic bags believed to contain Fentanyl and Crack Cocaine.

Man Arrested in Roxbury Drug Operation

Lockley is now facing several charges including possession with intent to distribute Class A and B drugs, along with four drug-related warrants. Roxbury District Court will oversee the arraignment.

June 20, 2023 0 comments
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Breaking NewsMassachusetts NewsPolice Blotter

Boston Police Arrest Man Following Firearm Incident

by Leo Canega June 20, 2023
By Leo Canega

BOSTON, MA – At around 12:14 AM on Monday, District B-2 (Roxbury) officers arrested 44-year-old Elias Perea on firearm-related charges. Perea was apprehended after police were informed about a man displaying a firearm following a fight at 252 Magnolia Street.

Perea is also suspected of possession of about 10 grams of Cocaine and Crack Cocaine.

His charges include unlawful possession of a firearm and ammunition, assault with a dangerous weapon, and drug possession. The arraignment is set to occur in Dorchester District Court.

June 20, 2023 0 comments
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Handcuffs used during police arrest.
Breaking NewsPennsylvania NewsPolice Blotter

Drug Raid Leads to Two Arrests in Chester Township

by Leo Canega June 20, 2023
By Leo Canega

CHESTER TOWNSHIP, PA – After a two-month-long investigation, a joint operation on Wednesday, June 14, 2023, led by the Upland Borough Anti-Crime officers, Pennsylvania State Police, and the Delaware County Drug Task Force resulted in the seizure of narcotics and the arrest of two men.

The operation centered on a residence at 3906 Worrilow Road, where officers recovered around 468 grams of marijuana, a .380 caliber handgun, and narcotics paraphernalia.

Drug Raid Leads to Two Arrests in Chester Township

Both arrested men were held at George W. Hill Correctional Facility after failing to post bail.

June 20, 2023 0 comments
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Breaking NewsPennsylvania NewsPolice Blotter

Meth-Induced Domestic Violence Standoff Resolved in Clay Township

by Leo Canega June 20, 2023
By Leo Canega

CLAY TOWNSHIP, PA – Northern Lancaster County Regional Police Department responded to an unknown problem call in the 1200 block of Sun Valley Road in Clay Township on Friday.

A 56-year-old male, under the influence of methamphetamine, had barricaded himself in a storage shed after a domestic violence incident, threatening to ignite gasoline inside the building.

After several hours of negotiations, police deployed OC (Oleo Caspian pepper) into the building and forcibly entered, taking the man into custody. The subject was decontaminated and evaluated at Ephrata Hospital before being returned to police custody for booking and Livescan at NLCRPD Headquarters.

June 20, 2023 0 comments
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Breaking NewsNew York NewsPolice Blotter

Shooting In The Bronx Leaves One Dead

by Leo Canega June 20, 2023
By Leo Canega

BRONX, NY – On Monday, at about 2:18 p.m., a 27-year-old male was shot in front of 1417 Longfellow Ave. Police from the 42nd Precinct responded to a 911 call and found the victim with a gunshot wound to the head.

The victim was transported to St. Barnabas Hospital, where he was later pronounced dead. The investigation continues, and as of now, there have been no arrests.

The victim’s identity is pending family notification.

June 20, 2023 0 comments
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Breaking NewsMaryland News

Silver Spring Teen Reported Missing

by Erica Schmidt June 20, 2023
By Erica Schmidt

GAITHERSBURG, MD- Detectives from the Montgomery County Department of Police’s Special Victims Investigations Division are seeking the public’s assistance in locating Darwin Rivera, a 17-year-old who has been reported missing from Silver Spring.

Rivera was last seen on Tuesday, June 13, 2023, at around 2:00 PM in the 900 block of Browning Avenue. He is described as approximately 5 feet 3 inches tall and weighing 130 pounds. He has medium-length black hair, brown eyes, a mustache, pierced ears, and tattoos on his left forearm and hands. Unfortunately, it is unknown what clothing he was wearing at the time of his disappearance.

It is important to note that Rivera was last seen driving a black 2013 Toyota Corolla with Maryland license plate 6EW9000.

Anyone with any information regarding Darwin Rivera’s whereabouts is urged to contact the police non-emergency number at (301) 279-8000, which is accessible 24 hours a day.

June 20, 2023 0 comments
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Breaking NewsNew Jersey NewsPolice Blotter

Fatal Motorcycle Crash in West Long Branch

by Leo Canega June 20, 2023
By Leo Canega

WEST LONG BRANCH, NJ – On Tuesday, June 13, 2023, officers responded to a reported motor vehicle crash involving a motorcyclist on Monmouth Road, near Brookside Avenue, at around 8:45 AM.

The motorcyclist, identified as 27-year-old Dennis Vaccaro from West Long Branch, was transported to a local hospital, where he later succumbed to his injuries. Patrolman Ryan Krug of the Traffic Safety Bureau is conducting the crash investigation.

June 20, 2023 0 comments
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Breaking NewsNew Jersey NewsPolice Blotter

Two Teens Shot And Killed in Bridgeton

by Leo Canega June 20, 2023
By Leo Canega

BRIDGETON, NJ – Late Saturday night, Bridgeton Police Department and detectives from the Cumberland County Prosecutor’s Office started investigations into a double homicide that occurred in the 100 block of Oxford St. A 16-year-old female of Fayette St. and a 17-year-old male from Chestnut St. were the victims of the fatal shooting, believed to be a targeted assault.

Another 17-year-old male from Marion St. sustained gunshot injuries and is currently receiving treatment at Cooper University Hospital in Camden. He remains in stable condition. Officers were alerted to the vicinity of Oxford St. and Belmont Ave. around 11:40 PM following reports of gunshots.

According to Chief of Police Michael Gaimari Sr., the victims were at the front porch of an Oxford St. residence when the shooting occurred. A still unidentified individual fired several shots before fleeing the scene. No arrests have been made as of this writing. The police request anyone with additional information to contact 856-451-0033 or submit information anonymously at BPD.TIPS.

June 20, 2023 0 comments
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Breaking NewsDelaware NewsPolice Blotter

Shooting Incident in Dagsboro Under Investigation by Delaware State Police

by Leo Canega June 20, 2023
By Leo Canega

DAGSBORO, DE – Early this Sunday, Delaware State Police responded to a shooting incident on the 30,000 block of Thorogoods Road. A 39-year-old man from Virginia was found with a gunshot wound to his leg and was transported to a nearby hospital for non-life-threatening injuries.

The unidentified suspect remains at large, with no additional information currently available.

June 20, 2023 0 comments
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Breaking NewsDelaware NewsPolice Blotter

Delaware State Police in Search of Suspect Following Domestic-Related Shooting

by Leo Canega June 20, 2023
By Leo Canega

BRIDGEVILLE, DE – Delaware State Police are seeking public assistance in locating Edward Stewart, 33, following a domestic-related shooting. Stewart, from Bridgeville, Delaware, is believed to have shot an adult and discharged a firearm near two children during an altercation in the Greenwood area.

He is currently wanted for possession of a firearm during the commission of a felony, assault second degree, reckless endangering first degree, aggravated menacing, and endangering the welfare of a child. Stewart is described as a black male, standing 5 feet 8 inches tall, weighing approximately 220 pounds, with black hair and brown eyes.

June 20, 2023 0 comments
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Breaking NewsPennsylvania NewsPolice Blotter

Bethlehem Man Dies Following Altercation in Allentown Hookah Lounge

by Leo Canega June 20, 2023
By Leo Canega

ALLENTOWN, PA – Early this Sunday, a fatal incident occurred at Synergy Hookah Lounge, where 29-year-old Kevin Tarafa of Bethlehem was found with multiple stab wounds. Patrol officers had been dispatched to the location following reports of an injured man leaving the establishment.

Tarafa was pronounced dead by the Lehigh County Coroner’s office after unsuccessful attempts to revive him on the scene.

Investigations have led to the arrest of 23-year-old Isiah Yeager of Allentown, who is charged with one count of Criminal Homicide. Information concerning the case is still being collected and anyone with pertinent details is encouraged to contact the Allentown Police Department Criminal Investigations Division at 610-437-7721.

June 20, 2023 0 comments
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US and World News

Blinken says China spy balloon incident ‘should be closed’

by Reuters June 20, 2023
By Reuters

BEIJING (Reuters) – U.S. Secretary of State Antony Blinken said the spy balloon incident with China “should be closed” in an interview with MSNBC posted online on Tuesday.

“We did what we needed to do to protect our interests, we said what we needed to say and made clear what needed to make clear in terms of this not happening again. So as long as it doesn’t, that chapter should be closed,” Antony Blinken said in the video interview with MSNBC.

(Reporting by Beijing newsroom; Editing by Andrew Heavens)

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June 20, 2023 0 comments
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Business News

Medtech firm Surgalign files for Chapter 11 bankruptcy

by Reuters June 20, 2023
By Reuters

(Reuters) – Beleagured U.S. medical technology company Surgalign Holdings filed for a voluntary Chapter 11 bankruptcy on Monday.

Surgalign filed for the bankruptcy with estimated assets and liabilities in the range of $50 million to $100 million in the Bankruptcy Court for the Southern District of Texas.

The Deerfield, Illinois-based company said in March that it had reduced its workforce by about 20% and cut non-essential spending, and realigned resources.

In November last year, the company approved a corporate restructuring plan, which included discontinuing some of its lower-performing units as well as intending to continue its brand and product rationalization programs.

(Reporting by Rishabh Jaiswal in Bengaluru; Editing by Rashmi Aich)

June 20, 2023 0 comments
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US and World News

US judge orders Trump lawyers not to release evidence in documents probe

by Reuters June 20, 2023
By Reuters

By Douglas Gillison and Kanishka Singh

(Reuters) -A U.S. judge in Florida on Monday ordered defense lawyers for former President Donald Trump not to release evidence in the classified documents case to the media or the public, according to a court filing.

The order from U.S. Magistrate Judge Bruce Reinhart also put strict conditions on Trump’s access to the materials.

“The Discovery materials, along with any information derived therefrom, shall not be disclosed to the public or the news media, or disseminated on any news or social media platform, without prior notice to and consent of the United States or approval of the Court,” the order filed on Monday said.

It also specified that Trump “shall not retain copies” and that he may only review case materials “under the direct supervision of Defense Counsel or a member of Defense Counsel’s staff.”

The order granted a motion filed last week by prosecutors who had asked the court to put conditions on how the defense stores and uses the documents.

Trump, who is the front-runner for the 2024 Republican presidential nomination, was indicted on federal charges earlier this month. He was accused of illegally retaining classified government documents after leaving the White House and then conspiring to obstruct a federal probe of the matter.

Trump has pleaded not guilty in court to all 37 counts.

He defended his handling of the boxes in an interview with Fox News on Monday, saying that he needed to go through the boxes to remove personal items including golf shirts, pants and shoes.

“Before I send boxes over, I have to take all of my things out. These boxes were interspersed with all sorts of things,” Trump said. “I was very busy, as you’ve sort of seen.”

Trump repeated his claim that the boxes contained magazine articles, personal items and art. The Justice Department told a court that the boxes contained highly classified documents, including a plan to attack Iran.

The former president faces other legal hurdles, having been indicted by New York City prosecutors in connection with an alleged hush-money payment to a [censored] star.

Special Counsel Jack Smith, who was appointed by Attorney General Merrick Garland, is also probing Trump’s alleged role in actions surrounding his loss in the 2020 presidential election that culminated in Trump supporters’ deadly attack on the U.S. Capitol on Jan. 6, 2021.

Trump is also being investigated in connection with efforts to change the outcome of the U.S. presidential election in Georgia.

(Reporting by Douglas Gillison, Kanishka Singh and Moira Warburton; Editing by Chizu Nomiyama and Jonathan Oatis)

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US and World News

How U.C. Berkeley tried to buoy enrollment of Black students without affirmative action

by Reuters June 20, 2023
By Reuters

By Sharon Bernstein

BERKELEY, California (Reuters) – In the 25 years since California voters banned all consideration of race in college admissions, the state has spent more than $500 million to help create diverse student bodies across the University of California system – with some success.

Yet in classes at the University of California at Berkeley, philosophy major James Bennett, who is Black and Filipino, sees almost no one who looks like him.

“I’ve only met two other Black students within all of my classes that I’ve been in,” said Bennett, who enrolled at the system’s flagship school in 2021.

The U.S. Supreme Court is expected to rule this month in a pair of cases that could end affirmative action in college admissions nationwide. If that happens, universities that have used race-conscious admissions to boost enrollment of minority students will look to California, one of nine states that already prohibits such considerations at its public colleges.

California has pioneered race-blind efforts in college admissions by using factors such as socio-economic status and location to identify disadvantaged students, many of whom are from immigrant or diverse ethnic backgrounds.

Those efforts helped the state’s top public colleges make up much of the ground lost in diversity in the years right after California voters passed the ban on affirmative action in 1996.

Black and Hispanic student enrollment at many U.C. campuses still lags the state’s general population, however.

Berkeley, the system’s most elite school based on high school GPA, offers the starkest example of the struggle to boost their numbers, particularly for Black students. In the fall 2022 freshman class, just 228 out of nearly 7,000 students – about 3% – identified as Black.

Femi Ogundele, Berkeley’s associate vice chancellor of enrollment and dean of undergraduate admissions, who joined Berkeley from Stanford in 2019, said the U.C. system needed to better reflect the broader demographic breakdown of the state, one of the most diverse in the nation.

According to the latest census data, the state’s population is 6.5% Black, 40% Hispanic, 35% white, 16% Asian and 1.7% Native American.

“I’m really proud of the gains we’ve had so far,” said Ogundele. “But I would also say we have a lot of work to do.”

The dearth of Black students has itself complicated recruitment efforts to expand their ranks, despite its distinction as the top public university in U.S. News and World Report’s list of Best Global Universities, and the campus’ reputation for progressive politics. Many Black families worry their students will feel isolated and opt to send them elsewhere, administrators and college counselors said.

Ogundele, who has made improving diversity a centerpiece of his work, came to Berkeley to bolster recruitment and diversity.

Senior Tyler Mahomes, a Black, Puerto Rican and white student from suburban Los Angeles, said he didn’t realize before he arrived at Berkeley how few Black students would be there.

“When you come to campus, you see Black athletes on the walls and stuff like that, and it kind of almost creates this illusion of how diverse the campus is,” he said. “But then when you get on the campus and you’re one Black student in a class of 80 people, it’s like, okay, what’s going on? Where are more people that kind of look like me?”

RECRUITMENT EFFORTS

In the fall of 1998, after the Proposition 209 ballot initiative banning affirmative action went into effect, the number of Black and Hispanic students immediately dropped across U.C. campuses.

The impact was greatest for the system’s two most selective schools, UCLA and Berkeley, where enrollment of Black and Hispanic freshmen was cut in half, the university system said in an amicus brief filed on behalf of the universities in the Supreme Court case in 2022.

Despite some improvement in the years since affirmative action was banned in California, the sparse presence of students from underrepresented backgrounds impacts the experiences of everyone on campus, the brief said.

“Many students from underrepresented minority groups, particularly those at UC’s most selective campuses, will often find themselves the sole student of their race and/or ethnicity in a class,” the brief said.

With diversity still allowed as a goal, the universities focused on expanding the pool of applicants and on recruitment efforts aimed at enrolling minority students once they were admitted. Top students often have many choices of where to attend.

Outreach programs were set up to help prepare public school students for college and guide them toward applying, with particular focus on schools with high numbers of pupils of color.

At Berkeley, the state-funded bridges Multicultural Resource Center has worked to increase applicants from under-represented backgrounds and then offer food, counseling and other support once they arrive.

Allexys Cornejo, born to a teenage mom in a Salvadoran refugee family and a C-student in high school, said outreach from the bridges program while she was attending community college helped her get into Berkeley – and offered the support she needed to graduate this spring with a sociology degree.

Freshman enrollment of Hispanic students across the nine U.C. campuses stood at 27% in 2022, up dramatically from 15% in 1995 before affirmative action ended, but still well below population figures. Berkeley’s figures last year were among the lowest in the system.

Black student enrollment across the system – which hovered at 3 or 4% for decades after the affirmative action ban – last year rose to 5%.

While other campuses in the system have struggled to enroll Black students, the issue has been particularly painful at Berkeley, which under affirmative action had exceeded the system overall in enrollment of Black students. Even with its efforts in recruitment and retention, Black students represented only 3% of the incoming 2022 freshman class, or about half of what they represented in 1995.

Asian students made up 43% of Berkeley’s freshmen in the fall of 2022, up from 37% in 1995. White students accounted for 20%, down from 30% under affirmative action.

TOUGH ODDS

Exactly why Black and Hispanic enrollment has lagged at Berkeley is complex and not entirely known, administrators said.

For one, factors such as economics and a school’s location are no longer as useful for recruiting Black students, Ogundele said.

While more than 500 California public schools are 40% Hispanic, fewer than 30 are 40% Black, he said. Social mobility, gentrification and immigration waves have changed the demographics of neighborhoods that once had larger Black populations, he added.

Financial aid is also an issue. Berkeley is competing with top private schools like Stanford or Harvard, which have large endowments and can offer more in scholarships, while also using affirmative action to admit students of varied ethnic backgrounds.

Sacramento-based college counselor Judith Painter said she recently worked with a high-achieving student from a disadvantaged Cambodian immigrant background who passed up both UCLA and Berkeley for Yale.

“But that’s more the power of the brand than anything to do with UCLA or Berkeley,” Painter said. “Yale is Yale.”

UCLA, which has surpassed Berkeley in Black admissions in recent years, has tapped its broader pool of wealthy alumni who can help the public university offer more scholarships, said john a. powell, a law professor and director of Berkeley’s Othering and Belonging Institute.

Last fall, Black students made up 7% of UCLA’s freshman class, the same as before affirmative action was banned.

Berkeley does not have the same pool of wealthy and famous sports, entertainment and business figures among its alumni as Los Angeles – and some Black Berkeley graduates are hesitant to recommend the campus to young people who will find themselves in a small minority, he said.

His own daughter chose Emory University in Atlanta over Berkeley for graduate school because of her desire for a larger Black community.

Shereem Herndon-Brown, a college counselor and co-author of the book “The Black Family’s Guide to College Admissions,” said Berkeley’s experience should serve as a warning to other schools of how they will struggle without affirmative action.

“They’re trying their hand at equity, but it’s failing,” he said.

(Reporting by Sharon Bernstein; Editing by Colleen Jenkins and Diane Craft)

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US and World News

Family sues Akron and 8 officers who shot Jayland Walker

by Reuters June 20, 2023
By Reuters

By Rich McKay

(Reuters) – Months after a grand jury declined to indict eight police officers in Akron, Ohio, who shot dead Jayland Walker, a 25-year-old Black man, his family is seeking at least $45 million in a federal lawsuit – $1 million for each bullet that hit him, the lawsuit says.

The case, filed Friday in the U.S. District Court for the Northern District of Ohio, says that excessive force was used, and sues eight officers, the City of Akron, Mayor Daniel Horrigan and Police Chief Stephen Mylett, alleging systemic misconduct and failures in the department.

Neither the police chief nor the mayor could be immediately reached by Reuters. A spokeswoman for the city told the Akron Beacon Journal that there would be no comment on the litigation from the city.

In a press conference on Friday, Bobby DiCello, the family’s attorney, said that the lawsuit will begin to tell the “true story” of what happened to Walker that night.

“Jayland Walker’s death has been mischaracterized as his fault,” DiCello said.

The officers pursued Walker on foot after an attempted traffic stop in June 2022 and shot him dozens of times, including five times in the back, police officials said.

Police opened fire after mistakenly thinking Walker reached into his waistband for a gun, Ohio Attorney General Dave Yost said during an April briefing to announce the grand jury’s decision.

“Only then did the officers fire believing Mr. Walker was firing again at them,” said Yost, whose office was asked by local prosecutors to investigate the shooting.

Earlier, while driving his car with officers in pursuit, Walker had fired at least one shot at them, but he left the gun in the car when he fled on foot, Yost said.

State law allows officers to use deadly force against a deadly threat to themselves or others, he added.

Walker’s death garnered national attention and roiled the city amid heightened tensions with police over the killing of another Black man, after a spate of such deaths across the United States.

This week, police in Minneapolis came under federal oversight after a Department of Justice (DOJ) review found routine use of excessive force against Black and Native American people, ending a two-year investigation prompted by the police killing of George Floyd.

In March, the DOJ found similar problems in the Louisville, Kentucky, police department, following the 2020 shooting death of Breonna Taylor.

Walker’s mother, Pamela Walker, attended the press conference, breaking down in tears as she hugged her attorneys. She declined comment to Reuters when reached later by telephone.

The city has not released the names of the officers involved in Walker’s shooting. A media lawsuit seeking the names of the officers is pending before the Ohio Supreme Court.

(Reporting by Rich McKay in Atlanta; Editing by Aurora Ellis)

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June 20, 2023 0 comments
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Business News

US judge orders Enbridge to shut down portions of Wisconsin pipeline within 3 years

by Reuters June 20, 2023
By Reuters

By Clark Mindock

(Reuters) – A U.S. judge has ordered Canadian energy company Enbridge to shutter portions of an oil pipeline that runs through tribal land in Wisconsin within three years and to pay the tribe nearly $5.2 million for trespassing plus a portion of its profits until the shutdown is completed.

U.S. District Judge William Conley issued the order on Friday in Madison. The judge’s action came just over a month after the Bad River Band told him an immediate shutdown was needed following heavy spring rains that eroded a riverbank protecting the pipe. The pipeline carries 540,000 barrels of oil per day from Canada through the Great Lakes region.

An Enbridge spokesperson said on Saturday the company plans to appeal the judge’s order.

In the ruling, Conley said a sudden shutdown could lead to oil shortages and price hikes in the United States, adding that “given the environmental risks, the court will order Enbridge to adopt a more conservative shutdown and purge plan.”

Enbridge said in court filings ahead of the judge’s action that a hasty shutdown of the pipeline was unnecessary and would cause “extreme market turmoil.” The company has proposed re-routing the pipeline around the tribal reservation, but has not received federal approvals to do so.

Representatives for the tribe did not immediately respond to a request for comment.

The tribe has said a breach in the pipeline along the 12-mile (19 km) segment that runs through the reservation could pollute important fishing waters, wild rice habitat and potentially underground aquifers.

The tribe sued Enbridge in 2019, arguing that riverbank erosion threatened a “looming disaster” that warranted removal of the pipeline and saying that the company no longer had a legal right to operate on the property after pipeline easements allowing it to use the land expired in 2013.

Conley ruled last year that the pipeline was trespassing on the land but stopped short of ordering a shutdown due to public and foreign policy concerns. The judge in November said significant erosion that could cause a rupture was unlikely, but told the parties to develop a shutdown plan anyway.

(Reporting by Clark Mindock in New York; Editing by Will Dunham)

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Business News

Exclusive – Canadian pensions manager invests $400 million in Swedish battery maker Northvolt

by Reuters June 20, 2023
By Reuters

(Refiles to make clear in headline IMCO is a pensions manager)

By Tommy Wilkes, Simon Jessop and Supantha Mukherjee

LONDON (Reuters) – Canada’s Investment Management Corporation of Ontario (IMCO) has invested $400 million in battery producer Northvolt, which will help the Swedish company expand production of lithium-ion batteries ahead of a possible initial public offering.

Northvolt, which counts BMW and Volkswagen among its investors, last year delivered its first battery cells from its gigafactory in Skelleftea in Sweden.

The group has raised more than $8 billion in debt and equity since 2017 in its bid to become Europe’s biggest battery manufacturer, including $1.1 billion in convertible notes last year from multiple investors.

In its largest deal in Europe yet, IMCO has invested $400 million in Northvolt through convertible notes, it told Reuters.

“Northvolt really fits with a lot of the trends we are trying to invest in,” Rossitsa Stoyanova, IMCO’s Chief Investment Officer, said in an interview, referring to themes including the transition to a lower-carbon economy and the restructuring of global supply chains.

“Whether it (Northvolt) goes public or stays private, we’ve done our homework and we are happy with the investment.”

A Northvolt spokesperson said the company hoped to reveal “the next steps in our financing plan in the near future”.

Convertible notes are debt that can convert to equity on pre-agreed terms and have proved popular among private companies recently as other funding markets dry up. They also allow businesses to avoid being explicit about their equity value.

Investors worry valuations in private markets have fallen sharply in tandem with public markets since central banks began hiking interest rates 18 months ago.

For IMCO, the convertible note provides regular interest payments and downside protection should Northvolt struggle to grow as expected.

Northvolt, valued at $12 billion in 2021, has been in talks with banks about an initial public offering that could value it at more than $20 billion, sources told Reuters earlier this year.

The company said last month it would invest several billion euros to build an electric vehicle battery plant in Germany, and sources have said Northvolt has been in discussions to raise cash through debt funding to expand its factories.

IMCO is embarking on a drive to invest more in continental Europe and Britain to diversify its assets away from North America.

Stoyanova said strong policy support in Europe for the shift to electric vehicles and the onshoring of manufacturing made Northvolt particularly attractive.

IMCO manages more than $73 billion in assets across assets classes including stocks, bonds, real estate, infrastructure and private equity.

It was formed seven years ago after Ontario decided to pool the province’s public sector pension schemes – creating a heft IMCO can leverage to buy assets directly or alongside key investment partners including Blackstone, Brookfield and Carlyle.

Matthew Mendes, IMCO’s head of infrastructure, said the Northvolt investment was examined jointly by his team and IMCO’s public equities managers.

“We think there is a really strong story that will resonate with public investors (if Northvolt lists),” he said, citing the company’s competitive advantage, long-term contracts and lower-carbon supply chain.

Mendes was previously CEO of UK-based battery storage business Pulse Energy, which IMCO bought in 2021.

IMCO has an investment team of 110 staff, which it plans to grow as it looks for more investments overseas.

(This story has been refiled to make clear in the headline that IMCO is a pensions manager)

(Reporting by Simon Jessop and Tommy Reggiori Wilkes; Editing by Marguerita Choy)

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June 20, 2023 0 comments
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Breaking NewsPennsylvania NewsPolice Blotter

Lancaster City Bureau of Police Investigates Triple Shooting Incident

by Leo Canega June 20, 2023
By Leo Canega

LANCASTER CITY, PA – A shooting in the early hours of Friday left one woman dead and two others injured. Lancaster City Bureau of Police identified the deceased as a 27-year-old female who was found on the 600 block of N Plum Street, the victim of an apparent gunshot wound.

Two additional victims were later identified at a local hospital, each suffering non-fatal gunshot injuries. Detective Austin Krause identified the suspected shooter as Timothy Allen, a 20-year-old Lancaster resident.

Lancaster City Bureau of Police Investigates Triple Shooting Incident

Allen faces numerous charges including criminal homicide, aggravated assault, and carrying a firearm without a license, among others. A warrant has been issued for his arrest.

June 20, 2023 0 comments
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New Google lawsuit aims to curb fake business reviews

by Reuters June 20, 2023
By Reuters

By Blake Brittain

(Reuters) – Alphabet’s Google on Friday sued a Los Angeles man and his companies in San Jose, California federal court, claiming he created hundreds of fake business listings on its platforms and sold them to real businesses to lure in unsuspecting customers.

Fake reviews have been a recurring problem on internet commerce sites. Google said in a statement that it filed the lawsuit against Ethan QiQi Hu to “help put an end to these types of malicious schemes.”

Hu did not immediately respond to a request for comment.

Google’s lawsuit said Hu creates sham businesses that appear in its search engine and Google Maps, using an “elaborate set of props” to verify them on video calls with the tech giant’s agents.

The lawsuit said Hu keeps a tool bench as a prop to verify fraudulent listings for garage repair, tree cutting and plumbing, and essential oils for verifying fake aromatherapy and reiki therapy businesses.

Google said Hu buys thousands of fake positive reviews to make the businesses appear legitimate. He then allegedly sells the profiles as “leads” to real businesses in the same fields, which receive contacts from potential customers who reach out to the fake businesses.

Google said Hu created more than 350 false profiles bolstered by over 14,000 illegitimate reviews.

The lawsuit accused Hu of false advertising, unlawful business practices and violating Google’s terms of service. Google asked the court for an unspecified amount of money damages and an order to block Hu’s alleged misconduct.

The case is Google LLC v. Hu, U.S. District Court of the Northern District of California, No. 5:23-cv-02964.

For Google: Whitty Somvichian of Cooley

For Hu: attorney information not available

(Reporting by Blake Brittain in Washington)

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Hyundai to consider joining Tesla’s North American charging standard alliance

by Reuters June 20, 2023
By Reuters

SEOUL (Reuters) – Hyundai Motor will consider making its vehicles more readily compatible with the charging standard Tesla is pushing for in North America, the South Korean automaker’s CEO said on Tuesday.

Tesla’s Superchargers make up about 60% of available U.S. fast chargers and Ford and General Motors have in recent weeks struck deals with Tesla to use its charging technology, now dubbed the North American Charging Standard (NACS).

Jaehoon Chang, who is also Hyundai’s president, said the company would consider joining the alliance of automakers shifting to Tesla’s standard, but that it would have to determine that was in the interest of its customers.

One issue, he said, is that Tesla’s current network of Superchargers does not allow for the faster charging Hyundai’s electric vehicles can achieve on other chargers.

“That’s what we will look into from the customer’s perspective,” Chang told analysts at the automaker’s investor day.

Hyundai’s new electric cars, including the Ioniq 5, use an 800-volt electrical architecture to allow for faster charging, while Tesla’s Superchargers operate at a lower voltage.

Chang said Hyundai would consult with Tesla to see whether it could make adjustments to its charging system for Hyundai customers so they could charge faster.

Tesla opening its charging network to electric vehicles from other brands is a condition for the company to qualify for some of the $7.5 billion in subsidies the Biden administration has provided to speed the deployment of chargers in the U.S.

The U.S carmaker also stands to profit from selling power to a bigger group of electric vehicle drivers. Tesla shares are up more than 40% since late May when it announced its deal with Ford.

(Reporting by Hyunsu Yim in Seoul; Writing by Kevin Krolicki; Editing by Jan Harvey)

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Google seeks suppliers to move some Pixel production to India – Bloomberg News

by Reuters June 20, 2023
By Reuters

NEW DELHI (Reuters) -Alphabet Inc’s Google has begun early conversations with domestic suppliers to move some production of its Pixel smartphone to India, Bloomberg News reported on Tuesday, citing people familiar with the matter.

Global tech giants are eyeing India as a manufacturing hub, shifting away from China after strict COVID-related restrictions hindered production in the country.

Apple supplier Foxconn was given a project earlier this month to start manufacturing iPhones in India.

Google has spoken to Lava International Ltd, Dixon Technologies India and Foxconn Technology Group’s Indian unit Bharat FIH, Bloomberg said.

Lava, Dixon, Bharat FIH and Alphabet did not immediately respond to a request for comment from Reuters.

(Reporting by Tanvi Mehta, Editing by Louise Heavens, Kirsten Donovan)

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Quotes: Here’s what people are saying about Alibaba’s management reshuffle

by Reuters June 20, 2023
By Reuters

(Reuters) – Alibaba Group said on Tuesday its CEO and chairman Daniel Zhang will step down from those roles to focus on its cloud division as the Chinese e-commerce giant moves ahead with a plan to split into six business units.

The CEO role will be handed over to Eddie Yongming Wu, chairman of Alibaba’s Taobao and Tmall Group, while Executive Vice Chairman Joseph Tsai will take over from Zhang as chairman.

Here’s what people are saying about the reshuffle:

JACOB COOKE, CO-FOUNDER AND CEO OF WPIC MARKETING + TECHNOLOGIES, AN E-COMMERCE CONSULTING FIRM BASED IN BEIJING:

“These leadership changes do not necessarily signal a major strategic shift within Alibaba, given that the individuals are co-founders, close associates of Jack Ma, and being promoted internally. If anything, it emphasises the increasing importance of AI in the company’s focus, while also underscoring that e-commerce is the core business unit.

“For governance reasons and also to maximize value from the re-organization, they needed separate boards and management groups between Alibaba and the cloud spin-off.”

BRIAN WONG, A FORMER ALIBABA EMPLOYEE AND AUTHOR OF “THE TAO OF ALIBABA”:

“The appointment of Daniel to focus on running cloud is really a show of confidence and trust in him to take the most precious business and run with it to develop it in the right way given this age of generative AI. The idea or expectation that one person could manage the businesses crown jewel Cloud and at the same time manage the entire Alibaba Group is an unreasonable expectation.

“This is really a vote of trust and confidence in his ability as an operator … but at the same time helping him to free up his time and resources by separating the two CEO roles.”

OSHADHI KUMARASIRI, LIGHTSTREAM RESEARCH, WHO PUBLISHES ON SMARTKARMA:

“It surprised me that he (Zhang) decided to relinquish the positions of CEO and chairman. We think in terms of information security, Cloud holds greater significance compared to the rest of Alibaba therefore it kind of makes sense to put someone like him in the Cloud business.”

XIAOYAN WANG, ANALYST AT 86RESEARCH:

“Heading such a big company is not easy for anyone. So I think it’s a ‘wait and see’. No big impact on share price in the near term. The company is still exploring new changes, including management and business operation. There may be more follow-up moves.”

JIALONG SHI, HEAD OF CHINA INTERNET EQUITY RESEARCH, NOMURA

“This will not have any meaningful impact on Alibaba’s businesses. While this change is unexpected by the market, we think effectively, the out-going CEO Daniel Zhang has decided to step down as CEO of the group and we expect he will be solely focused on AliCloud.

“Alibaba management has made it clear that it’s the CEOs of the newly established subsidiaries that will take charge of running the businesses of these six subsidiaries.

“It’s not surprising that Daniel Zhang has decided to dedicate himself to running AliCloud. My guess is that he feels running AliCloud on the front line is more exciting than continuing to stay on as CEO of the Group.”

“Eddie Wu is one of the founders and he should know the business and the management team very well.

“He doesn’t seem to have been in the driver’s seat of the Alibaba Group for the past few years … but the Group CEO role now does not seem to require the successor to have such a strong mandate to run the business, because it’s now the CEOs of the subsidiaries that are being trusted to do that job.”

(Reporting by Casey Hall in Shanghai, Josh Ye in Hong Kong, Scott Murdoch in Sydney; Compiled by Anne Marie Roantree)

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Singapore tops list of costliest cities for goods, services aimed at the wealthy

by Reuters June 20, 2023
By Reuters

SINGAPORE (Reuters) – Singapore for the first time became the most expensive city for goods and services for wealthy people, overtaking Hong Kong, London and New York, according to a report on Tuesday.

Cars and essential health insurance in Singapore are 133% and 109% more expensive than the global average, among 12 consumer goods and eight services that reflect the spending patterns of high-net-worth individuals, according to Julius Baer’s Global Wealth and Lifestyle report this year.

The politically stable and tax-friendly city-state was one of the first Asian cities to significantly ease pandemic restrictions, and has started to see an influx of wealth.

Demand for accommodation is high, school places are at a premium, and the general cost of living for everyone is high in Singapore, the report added.

Shanghai, in first place last year, fell to second. Possible factors include longer pandemic restrictions than in other cities, the report said. Hong Kong was ranked third.

Johannesburg was at the bottom of the list, which covered 25 cities across the world.

(Reporting by Chen Lin in Singapore. Editing by Gerry Doyle)

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