Liberals' sweeping budget bill includes $15 minimum wage and election-law changes

Mon., May 3, 2021



OTTAWA — The federal Liberals' bill to enact parts of their budget includes changes to emergency aid, taxes and a $15 national minimum wage alongside other items such as an election-law amendment.

The change to the Canada Elections Act would specify that it is illegal to "knowingly" make false statements about a candidate or party leader.

There are also provisions in the bill to give the National Research Council a mandate to produce "drugs and devices" to protect or improve Canadians' health.

Other measures in the bill were supposed to have been in an implementation bill last year, but weren't when the Liberals eschewed tabling a budget due to the COVID-19 pandemic.

Among those measures are changes to the Social Security Tribunal that adjudicates Canadians' appeals of rulings on their requests for employment insurance and Canada Pension Plan benefits.

Another such change is easing access to a benefit for parents of murdered or missing children, and doubling to 104 weeks the leave available to them under the Canada Labour Code.

A spokeswoman for Finance Minister Chrystia Freeland said all the measures in the legislation were detailed in the April 19 budget. Katherine Cuplinskas said in a written statement that the government hoped other parties would back the bill.

The fate of the minority Liberal government rests on getting support from one major party in the House of Commons, without which the government would fall and trigger a process that would likely lead to an election campaign.

NDP Leader Jagmeet Singh said there were several measures in the bill that were positive, pointing to the $15 minimum wage that his party had pushed for during the 2015 federal election before Singh became leader.

At the time, the Liberals under Justin Trudeau panned the New Democrat proposal because it left out the majority of workers whose hourly wage floor is set by provinces.

The bill would set the minimum wage at $15 per hour, or the corresponding provincial minimum if it is higher, with annual increases to keep up with inflation.

But Singh noted it wouldn't come into effect for six months until after the bill becomes law, which he called an unnecessary delay.

He also said he was concerned that the bill didn't address issues around paid sick leave that experts have cited as a key measure to slowing the spread of COVID-19 through workplaces.

"In general, this is what we've seen with the Liberal government: They signal some right, good things and then say some good announcements, but when it comes down to the actual work being done, they're not doing the work necessary," Singh told reporters on Parliament Hill.

Conservative Leader Erin O'Toole called the budget a "major letdown" that didn't deal with the issues of the pandemic, including work on funding for provincial health-care systems.

He also said the budgetary plan "spends in a way that is threatening the future prosperity of Canadians."

Budget forecasts estimate the national debt will rise to $1.4 trillion on the back of consecutive deficits over the next five years.

"We will continue to examine the budget and the implementation act, hold the government to account on it and propose alternatives to secure a future for Canadians," O'Toole said during a news conference.

This report by The Canadian Press was first published May 3, 2021.

Jordan Press, The Canadian Press

MORE CRAZY CHRISTIANS

Manitoba churches in court to fight against COVID-19 restrictions

WINNIPEG — A religious leader has told court he cannot force worshippers attending his Manitoba church to follow public-health orders aimed at curbing the spread of COVID-19 because it is "God's jurisdiction."

Jesus said unto them, Render unto Caesar the things that are Caesar's, and unto God the things that are God's. And they marveled greatly at him. 

https://biblehub.com/mark/12-17.htm

 Provided by The Canadian Press

"We have no authority scripturally based and based on Christian convictions to limit anyone from coming to hear the word of God," said Tobias Tissen, a minister at the Church of God Restoration.

Seven Manitoba churches are in Court of Queens 's Bench in Winnipeg this week to fight the province's COVID-19 restrictions.

Chief Justice Glenn Joyal said it's an important case because of intense public interest and the issues involved.

RIGHT WING LOBBY 
The Justice Centre for Constitutional Freedoms, a Calgary-based group representing the churches, has said the restrictions are unjustified violations of charter-protected freedoms.

The churches are arguing their right to worship and assemble has been breached, which has caused "a crisis of conscience, loneliness, and harm to their spiritual well-being."

Under current health orders, in-person worship services in Manitoba are restricted to 10 people or 25 per cent capacity — whichever is less — and everyone is required to wear a mask.

Tissen, who is a minister at the church just south of Steinbach in rural Manitoba, was the first person to be questioned at the hearing, which is to take place over two weeks.

Tissen and his church have been fined numerous times for violating the restrictions.

Videos of services at the Church of God in January were entered in court and show people singing, hugging and going without face masks despite restrictions in place at the time that required churches to remain closed.

Denis Guenette, a lawyer for the province, also questioned Tissen's presence as a speaker at multiple protests against restrictions in Manitoba and other provinces.

Images shown in court of the rallies depict hundreds of people standing close together without wearing masks.

Video: Several Manitoba churches launch challenge to COVID-19 restrictions (cbc.ca)  

 Video: Saskatoon church in apparent violation of public health guidelines again (Global News)

   
Following his testimony Monday, Tissen joined at least 100 protestors in support of the legal challenge outside the courthouse. Health orders restrict public outdoor gatherings to a maximum of 10 people.

In a previous hearing, provincial lawyers told court it's within the bounds of the legislature to grant the chief provincial public health officer authority to impose reasonable restrictions.

Court also heard from Jay Bhattacharya, a professor at Stanford University Medical School who has become known for speaking against lockdown measures in the United States. He has also criticized chief medical adviser Dr. Anthony Fauci's support of restrictions.

He provided an affidavit to court for the churches saying governments could have less intrusive restrictions.

Bhattacharya, who testified by video from California, was questioned about his expertise and whether it should be applied to the case.

Heather Leonoff, a lawyer for the province, pointed out that while Bhattacharya has a PhD in economics and a medical degree, he is not licensed to practice medicine.

The often-confrontational cross-examination went through Bhattacharya's published research and Leonoff questioned whether he had any specific understanding of the situation in Manitoba, specifically with COVID-19 outcomes among Indigenous people.

Bhattacharya was also questioned about his argument that asymptomatic spread is rare and that that's a reason for why restrictions should be loosened.

The hearing will continue Tuesday.

The constitutional challenge is the latest in a string of attempts by churches across the country to quash COVID-19 restrictions on religious gatherings. The Justice Centre has filed similar challenges in British Columbia and Alberta.

In December, Joyal rejected a case brought by Springs Church in Manitoba to hold drive-in services while there were restrictions on public gatherings and in-person religious events.

That church faced more than $32,000 in fines for services at the time of the hearing.

Drive-in church services are now allowed under the province's health orders.

In Alberta, a pastor is currently on trial for violating public health orders in that province.

Pastor James Coates, of GraceLife Church, spent a month in remand for violating a bail condition not to hold church services. He was released in March.

This report by The Canadian Press was first published May 3, 2021.

Kelly Geraldine Malone, The Canadian Press

CRAZY CHRISTIANS ENDANGER US

'Compliance with AHS is noncompliance with God:' Alberta pastor testifies at trial

Jesus said unto them, Render unto Caesar the things that are Caesar's, and unto God the things that are God's. And they marveled greatly at him. 

https://biblehub.com/mark/12-17.htm

EDMONTON — An Alberta pastor accused of leading church services in violation of public-health orders says the COVID-19 pandemic has been blown out of proportion by the government and the media.

© Provided by The Canadian Press

Pastor James Coates of GraceLife Church testified on the first day of his trial Monday and complained multiple times about how difficult it was to speak with a mask on.

The 41-year-old, who was born and raised in Scarborough, Ont., spent a month in the Edmonton Remand Centre after he violated a bail condition not to hold church services that officials have said ignored measures on capacity limits, physical distancing and masking.

He was released March 22 after pleading guilty, and was fined $1,500.

Coates challenged the one charge he still faces of violating the Public Health Act during his cross-examination.

He says provincial regulations meant to curb the spread of COVID-19 not only infringe on his and his congregants' constitutional right to freedom of religion and peaceful assembly, but he's convinced they are an overreaction.

"It's the government that's practicing civil disobedience and, at this point in time, there seems to be no accountability," he said.

"The government has been able to essentially do whatever it wants and you've got the media that just fearmonger the people into believing the COVID narrative, and the supreme law of the land, the Charter, is being ignored. The long-term ramifications of that toward this promising country are deeply concerning to me."

Coates testified that he believes masking is a violation of his charter right to worship and gather because it has hindered his speaking and made it difficult for him to be a pastor. He said having services online or capping the congregation at 15 per cent also altered the true meaning of worship.

"We determined that complying with AHS meant noncompliance with God so we decided, 'OK, well, who would you rather be (in) noncompliance with? God, or AHS?' And I think the choice is pretty simple."

A Crown prosecutor, whose identity is under a publication ban due to security concerns, called only one witness.

Janine Hanrahan with Alberta Health Services testified earlier Monday that she observed multiple "risky" behaviours at the Edmonton-area church in Spruce Grove, Alta., from November 2020 to December 2020.

On Nov. 22, she said she arrived at the church before the service had begun and said there were a few people inside. Only some had masks on, she said.

Hanrahan said she made several recommendations to the church's pastor about what they could do to reduce the spread of COVID-19 -- such as signage on the door to remind people about physical distancing, wearing masks and using hand sanitizer.

She also recommended the church have separate entrance and exit lanes for congregants passing through its double doors.

On Dec. 13, Hanrahan said more complaints about the church prompted Alberta Health Services to return, but that time she arrived with two RCMP officers because she was concerned for her safety.

She said she saw 200 congregants of GraceLife Church singing, cheering and clapping next to each other and dozens of people standing shoulder-to-shoulder in the lobby of the building, which has capacity for 600 people. The 15 per cent limit that was in effect by the government allowed a total of 92 people to be inside the building.

Hanrahan testified that was also the day she heard the pastor tell an RCMP officer that Alberta's chief medical officer, Dr. Deena Hinshaw, was a dictator and Premier Jason Kenney was hiding behind her.

On Dec. 20, Hanrahan said a ticket was issued to Coates for breaching the 15 per cent capacity limit.

Coates, who is represented by lawyers with the Justice Centre for Constitutional Freedoms, testified the church followed regulations in the beginning of the pandemic after two members of the congregation tested positive. He said others got tested to make sure the virus hadn't spread.

"They all came back negative," he said.

The church also held services online last June, but Coates said he heard Premier Jason Kenney call the pandemic an over-reaction and compare the virus to influenza as the pandemic progressed.

Coates said he then became convinced the public health measures were excessive.

He said the church had 37 Sunday services without any positive cases before it was shut down and fenced off in April.

The pastor said the church has continued holding services since then and they have seen an increase in congregants.

Coates will continue his testimony Tuesday.

This report by The Canadian Press was first published May 3, 2021.

---

This story was produced with the financial assistance of the Facebook and Canadian Press News Fellowship.

Fakiha Baig, The Canadian Press

Note to readers: This is a corrected story. An earlier version said GraceLife Church was in Stony Plain, Alta.

Brazilian indigenous leaders subpoenaed for criticizing government


BRASILIA (Reuters) - Brazil's indigenous affairs agency Funai has called on a top indigenous leader to explain her criticism of the right-wing government of President Jair Bolsonaro and the impact its handling of the COVID-19 crisis has had on native people.

© Reuters/UESLEI MARCELINO FILE PHOTO: Indigenous people call for the demarcation of their lands and the resignation of the Minister of Environment, Ricardo Salles

Federal police have subpoenaed Sonia Guajajara, head of Brazil's largest indigenous umbrella organization APIB, to testify on her statements at the request of Funai, which was set up in 1967 to defend the interests of indigenous people.

Guajajara said she was summoned to explain her documentary series published on Internet called "Maracá - Indigenous Emergency" which denounces the lethal impact of the COVID-19 pandemic on Brazil's 850,000 indigenous people and accuses the government of genocide for not protecting them.

© Reuters/UESLEI MARCELINO FILE PHOTO:

 WTF Munduruku ethnic group protest in favor of mining and against the entry of NGOs in indigenous lands

"The persecution by this government is unacceptable and absurd! They will not shut us up," Guajajara said in a Twitter message on Friday.


Another indigenous leader from the state of Rondonia, Almir Suruí, head of the Metareilá Association, was also summoned to testify.

Funai's role is to coordinate and implement the Brazilian government's policies to protect the indigenous population, especially their isolated and recently contacted people.

That function has been curtailed under Bolsonaro who has criticized indigenous people for having too much reservation land and advocates commercial mining on their lands. Bolsonaro named a policeman, Marcelo Xavier, to run the agency.

Funai declined to comment on the subpoenas and said it does not comment on matters under police investigation.

APIB rejected the move to silence the indigenous leaders.

"In yet another act of political persecution and authoritarianism, President Bolsonaro's government is trying to criminalize the indigenous movement and its leaders," it said in a statement.

APIB said the attacks come from a federal agency that should be defending the rights and promote the autonomy and freedom of expression of indigenous people.

(Reporting by Ricardo Brito; writing by Anthony Boadle; Editing by Lincoln Feast.)

IMPOTENT
Alberta premier promises more COVID-19 rules, expands vaccinations to teachers

Kenney said he is successfully navigating the pragmatic middle path between those who want no restrictions and those who want a total lockdown.

EDMONTON — Alberta Premier Jason Kenney says he will be announcing Tuesday a new round of tougher health restrictions to arrest COVID-19 case rates that are the highest in Canada.

© Provided by The Canadian Press

Kenney said the impetus was a “No More Lockdowns” rodeo in central Alberta over the weekend that saw hundreds congregate without masks in open defiance of public health rules.

“I was very disturbed. Actually I was angered (by the rodeo),” Kenney said Monday

SO HE STOMPED HIS LITTLE FOOT IN ANGER

“Given the issues we saw this weekend, and the record high cases recorded, we are developing a package of stronger public health measures which I expect to announce tomorrow.

“The next few weeks are critical.”

Alberta Health Services said in a statement that inspectors spoke with organizers before the rodeo at Bowden to notify them about public health orders. They also sent a letter indicating the event would be illegal if it were to proceed, adding, "AHS is considering our legal options in regards to the organizers of this event."

The RCMP did not respond Monday to requests for comment.

Kenney has faced demands to crack down on COVID-19 lawbreakers, but has stressed that politicians should not direct police on charges.

Opposition NDP Leader Rachel Notley agreed a legal firewall should be respected, but said there is more Kenney’s United Conservative government can do to set a tone that the rule of law must be followed and enforced.

She urged Solicitor General Kaycee Madu to issue a guideline to police services to consistently and vigorously enforce public health rules.

“It is within the scope of authority of the solicitor general to issue this kind of guideline,” said Notley.

Dr. Shazma Mithani, an emergency room doctor in Edmonton, noted the rodeo had been advertised in advance but authorities still did nothing to stop it.

“It felt like a gut punch. There were thousands of people shoulder to shoulder, with no masks on, pretending like everything’s OK,” said Mithani.

The issue of rules versus enforcement has bedeviled Alberta since the pandemic began 14 months ago.

In Calgary, Mayor Naheed said he was frustrated to hear tickets given to people for breaching COVID-19 orders are being thrown out in the courts.

"I'm calling on the court system to take this as seriously as the police do,” said Nenshi.

Large groups without masks have regularly been gathering in Calgary public spaces and in violation of group limits in protest of health measures.

Nenshi said people must understand the rules aren't just guidelines, but acknowledged Kenney has in recent days given conflicting messages on restrictions.

Kenney said last week that new laws weren’t necessary but, days later, calling them critical to bending the curve, instituted new regulations in so-called COVID-19 hot spots.

"Even though the premier sometimes doesn't sound firm on this, this is actually the law," Nenshi said.

Kenney pushed back on suggestions he and his government have been inconsistent with their message, undercutting support for health restrictions.

About half of Kenney’s United Conservative backbench is openly against the restrictions, and critics say Kenney has been reluctant to introduce and enforce the rules to avoid angering his political base, especially in rural areas.
ROFLMAO
Kenney said he is successfully navigating the pragmatic middle path between those who want no restrictions and those who want a total lockdown.

Alberta had 23,608 active COVID-19 cases Monday — the highest rate of infection in Canada. There were 658 people in hospital, including 154 in intensive care.

About 1.64 million Albertans have received at least one dose of vaccine.

Also Monday, Kenney announced teachers, childcare workers and support staff will be able to book vaccine appointments.

Three weeks ago, Kenney resisted calls from the Alberta Teachers’ Association to give front-line staffers vaccine priority, saying the government will follow priorities tied to scientific evidence rather than "arbitrary pressure."

But on Monday, Kenney praised teachers as the "glue" holding the system together.

Jason Schilling, the head of the teachers association, issued a two-word statement in response: “About time.”

This report by The Canadian Press was first published May 3, 2021.

— With files from Lauren Krugel in Calgary

Dean Bennett, The Canadian Press

THE FURTHEST NORTH FOR COVID

COVID-19 cases rise in N.W.T. and Nunavut; Iqaluit declares state of emergency

IQALUIT — Nunavut's capital declared a state of emergency Monday and Yellowknife in the neighbouring N.W.T. closed its schools as news cases of COVID-19 sprang up in both territories.

 

Provided by The Canadian Press

Iqaluit, a city of about 8,000 people, had 81 of Nunavut's 85 active cases.


Council voted unanimously to declare the local emergency starting at midnight to give the city authority under its Emergency Measures Act to enforce public health order.

"Given the seriousness with the state of affairs with community transmission of COVID-19 in Iqaluit, I will make a motion to declare a state of local emergency," Iqaluit city Coun. Kyle Sheppard said.

It also allows the city to "take additional measures to support the vulnerable population," a news release stated.

Over the weekend, Iqaluit's "low-barrier" shelter, usually open from 8 p.m. to 8 a.m. each day, closed after all four employees went into isolation for COVID-19 and one tested positive. The shelter is the only dedicated place in the city where intoxicated people can stay.

Iqaluit reported its first infection on April 14, but the territory’s chief public health officer has said the virus is likely to already have been in the city a week before that.

Last week, health officials confirmed COVID-19 cases in Iqaluit’s jails and medical boarding home.

The city has been under a strict lockdown that includes school closures and travel restrictions since April 15.

The Northwest Territories also tightened up its public health measures Monday after an outbreak at N.J. Macpherson School. As a result, all schools in Yellowknife were closed indefinitely.

Officials reported 14 cases of confirmed COVID-19 and six probable cases late Monday.

The N.W.T.'s chief public health officer, Dr. Kami Kandola, said earlier in the day that most of the cases were children. Health officials were investigating how the virus entered the school and were working to determine whether the cases are related to an earlier cluster in the city in April.

Kandola said while the N.W.T. is "on the brink of community spread," all cases have so far been linked to the outbreak at the school.

The N.W.T. also said it's working to finalize a deal with British Columbia to get doses of the Pfizer-BioNTech vaccine in exchange for doses of Moderna so teens can be vaccinated.

Only the Moderna vaccine is available in the N. W. T and Nunavut, and it is not yet approved for anyone under 18.

Given the COVID-19 situation in the N.W.T., Nunavut's chief public health officer, Dr. Michael Patterson, suspended the common travel area between the two territories.

Until now, N.W.T. residents could enter Nunavut without isolating. Effective immediately, anyone travelling to Nunavut from the N.W.T. must isolate for 14 days in a designated hotel before entering Nunavut.

There are some exceptions to the new order, including essential workers and medical travelers.

This report by The Canadian Press was first published May 3, 2021.

"PERSIST "

Elizabeth Warren book: Massachusetts senator reflects on 2020 loss and gender in new memoir

By Daniella Diaz, Aaron Pellish and Rashard Rose, CNN


Weeks before Elizabeth Warren launched her first senatorial campaign, she made a call to a woman she said was a longtime Democratic activist in Massachusetts. She recalls telling the woman she was going to run for Senate.

Drew Angerer/Getty Images WASHINGTON, DC - JULY 22: (L-R) Sen. Elizabeth Warren (D-MA) speaks during a news conference concerning the extension of eviction protections in the next coronavirus bill, at the U.S. Capitol on July 22, 2020 in Washington, DC. Amid economic hardships during the pandemic, the federal moratorium on evictions is set to expire on Friday. (Photo by Drew Angerer/Getty Images)

"Martha lost," Warren says the woman responded, according to her new memoir. The woman was referencing Martha Coakley, who was the first female Senate nominee of a major party in Massachusetts, but lost two statewide campaigns.

"Oof," Warren responded.

That's just one of many anecdotes the Massachusetts senator recalls in her new memoir out this week where she reflects on gender and loss in the 2020 presidential campaign. She also details her countless plans that she says would help middle class Americans, something she became known for during the campaign.

In the memoir, "Persist," a copy of which was obtained by CNN, Warren acknowledged publicly -- now months later -- that maybe she "wasn't good enough" for American voters to win the 2020 presidential primary.

"I didn't want to run for president to make a point," Warren wrote. "I wasn't carefully measuring how hard to hit a glass ceiling. I didn't need to be heralded as the First Something. I just wanted a chance to fight for the things I cared about -- economic opportunity, racial justice, halting climate change, combating Washington corruption, improving our education system. I had been talking about these issues for a long time."

She goes on to write: "But there's always another possibility, a much more painful one: in this moment, against this president, in this field of candidates, maybe I just wasn't good enough to reassure the voters, to bring along the doubters, to embolden the hopeful."

Throughout her memoir -- the third book Warren has written as a politician -- she reflects on the role her gender played in her presidential campaign. While she never directly blamed sexism for losing the nomination, it's a theme that comes up again and again in anecdotes of her life that are intertwined with decisions she's made or views she has on issues.

In one, she recounts thinking as she lay in bed after her first day fundraising for her presidential bid, "I wondered whether anyone said to Bernie Sanders when he asked for their support, 'Gore lost, so how can you win?' I wondered whether anyone said to Joe Biden, 'Kerry lost, so clearly America just isn't ready for a man to be president.'"

She added: "I tried to laugh, but the joke didn't seem very funny."

Warren sprinkles commentary about her then-2020 rivals throughout the memoir. She calls Sanders "fearless and determined" and Biden "a good leader and fundamentally decent man."

With Sanders specifically, she referenced him telling her a woman couldn't win the election. (Sanders denied the characterization of that conversation in a statement to CNN at the time.)

"The news caused a stir. But the question of whether a woman could win the presidency was clearly on voters' minds, and it would come up in debates and town halls," she said. "When asked, I always told an upbeat story about why I believed success was within our grasp, but I was under no illusion -- I knew that winning would be an uphill battle."

There is one presidential rival Warren does not compliment in her memoir -- Michael Bloomberg. Warren recalls her first debate performance against the former New York City mayor and billionaire where she felt he was not listening to her attacks against him.

"Like so many women in so many settings, I found myself wondering if he had even heard me," she wrote.

Many attributed Warren's debate performance that night in Las Vegas as to why Bloomberg dropped out of the race. But Warren reflects on what critics said about what she told Bloomberg that night -- about how she came off, according to one analyst, as "mean and angry."

"And there it was, the same damn remark made about every woman who ever stood up for herself and threw a punch. Repeat after me: fighting hard is 'not a good look,'" she wrote.

Warren also goes into detail about several parts of her past, including a story she often told on the campaign trail about being fired from her teaching job when she was pregnant.

A portion of her memoir is devoted to memorializing her brother Don Reed Herring, who died of coronavirus last year and whose death, she wrote, "didn't need to happen," blaming the Trump administration's handling of the pandemic.

Warren also acknowledges her claims to Native American heritage as a "bad mistake."

"I should never have identified as Native American. I've never been a citizen of a tribal nation. Tribal nations -- and only tribal nations -- determine who their citizens are," she wrote.

Still, Warren's memoir is not just about her past, but about what she wants to continue to do in the future, she wrote.

"This book is not a campaign memoir. It is not a rehash of big public events. It's a book about the fight that lies ahead," she wrote.

"It's about the plans we need -- no surprise there! -- but it's about much more than plans. It's about the passion and commitment that underlie those plans, and the human connection that will keep us in this fight until we see real change

Intel investing $3.5B in New Mexico fab upgrade, boosting US chipmaking


Intel on Monday announced a $3.5 billion upgrade to a chip manufacturing plant in Rio Rancho, New Mexico, that will boost a processor stacking technology called Foveros. That spending, combined with $20 billion to build two new facilities in Arizona, is part of a major effort by Intel to rejuvenate its manufacturing.

© Provided by CNET Intel plans to spend $3.5 billion upgrading its chipmaking plant in Rio Rancho, New Mexico. Intel

The chipmaker on Sunday confirmed the upgrade plan, first reported on CBS' 60 Minutes, and said Monday it'll mean 700 new jobs at the site over the next three years. Intel manufacturing chief Keyvan Esfarjani detailed the plan at a press conference with New Mexico Gov. Michelle Lujan Grisham, New Mexico's two senators, Martin Heinrich and Ben Ray Luján, and Rep. Teresa Leger Fernandez, Intel said. The spending also means 1,000 new construction jobs, with work starting this year.© Stephen Shankland/CNET

Intel has struggled to shrink circuitry, key to making processors competitive and profitable.

Intel led chipmaking progress for decades but fell behind Taiwan Semiconductor Manufacturing Co. in recent years. Investing in its new chipmaking plants, called fabs, is part of a major Intel effort to restore its competitiveness under new CEO Pat Gelsinger. The company is also planning to build chips for others, a business called a foundry, and to rely on other chip foundries to build some of its own chips.

At the New Mexico fab, Intel will increase use of a processor packaging technology called Foveros that Intel debuted in 2018 and first used in an efficient but uncommon chip code-named Lakefield. Stacking separate chip elements atop one another and connecting them with power distribution and communication links is technologically difficult, but Intel expects it'll increase manufacturing flexibility. It also could be used to accommodate chip elements made at other chip foundries.
More chipmaking investment, less stock buybacks

Intel is happy with current political efforts to drum up federal funding to help the US chip industry. Gelsinger said Intel will invest more of its own money, too, instead of spending it on buying its own stock, which keeps shareholders happy but doesn't help research or operations.

"We will not be anywhere near as focused on buybacks going forward as we have in the past," Gelsinger told 60 Minutes. "That's been reviewed as part of my coming into the company, agreed upon with the board of directors."

Appeasing shareholders was important as Intel struggled, Moor Insights and Strategy analyst Patrick Moorhead tweeted Monday. "If they didn't do buybacks I think the company would have been broken up," Moorhead said. One widely suggested remedy for Intel's woes has been to split its chip design business, which comes up with processors like its Core and Xeon models, from its chip manufacturing business.

Intel's stiff competition

The Silicon Valley company remains profitable, but it faces stiff competition on several fronts besides TSMC and the third major chipmaker, Samsung . All smartphone processors are members of the Arm family, including Apple 's A series. Apple also has split from Intel for its new M series of Mac processors. Amazon, meanwhile, has an Arm server processor for its Amazon Web Services, the cloud computing foundation that powers huge swaths of the internet.

Intel also faces a smaller Arm rival called RISC-V that's won interest from some notable chip startups. One, Tenstorrent, hired Jim Keller, formerly a high-profile Intel chip designer, as chief executive. Another, Esperanto Technologies, has revealed an AI chip design with more than 1,000 processing cores.

In a sign of how serious Intel is about its foundry business, though, it'll be able to build both Arm and RISC-V processors.

TSMC is spending billions of dollars on its new fabs, too, mostly in Taiwan but also in Arizona. Gelsinger is bullish, though: "We believe it's going to take us a couple of years and we will be caught up," he told 60 Minutes.

Treasury Secretary Janet Yellen says Americans can expect a 'big return' from Biden's $4.1 trillion spending proposal

bwinck@businessinsider.com (Ben Winck) 

© Andrew Harnik/AP Treasury secretary Janet Yellen pushed for stimulus checks 

President Biden's spending plans can offer a "big return," Tres. Sec. Janet Yellen said Sunday.

The measures should be paid for while interest rates sit at historic lows, she added.

If inflation rises more than expected, the government "has the tools to address it," Yellen said.

Treasury Secretary Janet Yellen reiterated her support for President Joe Biden's spending plans on Sunday, pitching the measures as strong investments in the country's future.

The president on Wednesday rolled out a $1.8 trillion spending proposal that includes funding for paid family and medical leave, universal pre-K, and childcare. The measure follows the March passage of Biden's $1.9 trillion stimulus package and joins the president's $2.3 trillion infrastructure plan as his latest step in big-government economic policy.

Republicans and some moderate Democrats have balked at the follow-up plans cost, saying the measures would dangerously inflate the government's debt pile. Yellen countered on NBC's "Meet The Press," saying it's a better time than ever to spend on such projects.

"We're in a good fiscal position. Interest rates are historically low... and it's likely they'll stay that way into the future," the Treasury Secretary said. "I believe that we should pay for these historic investments. There will be a big return."

Video: Full Yellen Interview: 'Over the long run, deficits need to be contained' 

(NBC News)

That's not to say the government shouldn't offset the multitrillion-dollar price tag. The Biden administration rolled out a handful of tax hikes and stronger enforcement to cover the spending, but those proposals were swiftly rejected by Republicans. The GOP has criticized Biden's public-works plan and a proposed corporate tax increase, calling it a "slush-fund" and a "Trojan horse" for Democratic priorities.

The economy is poised to rebound from the coronavirus pandemic throughout 2021 and, in turn, bring in greater tax revenues. That stronger growth justifies some spending, but the safest and most sustainable way to spend on infrastructure and care involves equitable tax increases, Yellen said.

Stricter tax compliance would also play a critical role. The country is currently estimated to lose $7 trillion through tax underpayment over the next decade. Stepping up compliance efforts and adequately funding the IRS can also boost tax collection, Yellen added.

The Treasury Secretary also rebuffed concerns of the massive spending fueling a sharp rise in inflation.

Administration officials and the Federal Reserve already anticipates the latest stimulus and economic reopening to drive a sharp but temporary bout of stronger inflation. While Biden's latest proposals are far larger than the March stimulus, plans to spend them over eight to 10 years cuts down on the risk of rampant inflation, Yellen said.

"I don't believe that inflation will be an issue, but if it becomes an issue, we have tools to address it," she added. "These are historic investments that we need to make our economy productive and fair."

A majority of investors and business owners have faith in Biden's economic boom, new UBS survey finds

© Sarah L. Voisin/The Washington Post via Getty Jorge Sactic is the owner of Chapina Bakery in Langley Park, Maryland. Sarah L. Voisin/The Washington Post via Getty

About 64% of investors and business owners see Biden's policies aiding the global recovery.

A majority also said Biden's measures will support global markets, according to a UBS survey.

The optimism comes as Biden preps another $4.1 trillion in spending to boost the economic recovery

The Biden boom is in full swing and people like what they see.

Investors and business owners around the world are largely optimistic that the Biden administration's economic policies will fuel a robust recovery and leave them on better footing, according to a recent UBS survey. Some 64% of respondents view the administration as having a positive impact on the global economy. Six in 10 believe the White House's policies will support global markets.

Roughly 57% of investors and business owners said the Biden administration has benefitted their personal finances, and 54% of business owners said the policies benefitted their companies.

In just the first 100 days of his time in office, President Joe Biden has embarked on one of the most ambitious policy strategies in modern history. The president passed a $1.9 trillion stimulus measure - the second-largest in history - on March 11 and has since unveiled follow-up packages that include roughly $4.1 trillion in additional spending. Economists have largely linked soaring retail sales and stronger economic growth to the stimulus measure.

To be sure, President Joe Biden's policies aren't the only cause for optimism. New COVID-19 cases in the US sit at their lowest seven-day average since October, and state and local governments have been slowly rolling back lockdown measures for weeks. And while the vaccination rate has slowed, it still sits at an average 2.5 million doses per day. At the current rate, the US will reach herd immunity over the next three months, according to Bloomberg data.

In the US specifically, seven in 10 investors expressed hope about the path of the economy. That compares to just 52% three months ago and makes US investors the most positive globally, UBS said.

The share of US investors growing positive toward stocks rose to 71% from 59%. The shift underscores a broader move toward riskier assets as investors ditch the safe havens they held at the start of the pandemic and position for a swift recovery.

The responses join other sentiment gauges that have turned stronger in recent months. The University of Michigan's consumer sentiment index rose to a fresh pandemic-era high in April, according to a Friday release. That level is the highest since March 2020. Separately, the Conference Board's consumer confidence measure rose to its highest level since February 2020 as the healing labor market and latest round of stimulus checks boosted outlooks.

UBS interviewed 2,850 investors and 1,150 business owners around the world from March 30 to April 18. Responses were sourced from 14 markets including the US, the UK, Mexico, mainland China, Japan, Italy, Brazil, and Mexico.

Hong Kong plan to force Covid vaccines on foreign domestic workers sparks alarm

Hong Kong’s government has sparked discrimination concerns over plans to force hundreds of thousands of foreign domestic workers to be vaccinated against Covid-19 or face losing their job.

Authorities have embarked on mass mandatory testing of the city’s 370,000 domestic workers after a more infectious strain was detected in the community, and flagged plans for compulsory vaccinations.

Under the measures, workers would need to be vaccinated before their contracts could be renewed, and any incoming worker would be required to have the vaccination to enter Hong Kong.

Related: Hong Kong passes law that can stop people leaving

The vast majority of Hong Kong’s domestic workers are migrant workers, primarily from the Philippines and Thailand, and no other foreign workforce has been singled out for mandatory vaccines, drawing criticism from Philippines officials. The country’s foreign affairs secretary, Teddy Locsin Jr, praised Hong Kong’s provision of free vaccines to domestic workers, but said singling them out to make it mandatory “smacks of discrimination”

.

Photograph: Peter Parks/AFP/Getty Images Migrant workers queue up for Covid-19 testing in the Central district of Hong Kong on Saturday.

“If it is a special favour, it is unfair to other nationalities. Hong Kong can do better than that,” he said.

Eman Villanueva, spokesperson for the Asian Migrants Coordinating Body, said the enforced testing and proposed vaccinations were “discrimination and social exclusion of domestic workers at its worst”, and accused the government of “blackmailing” workers by tying vaccines to contracts.

“They did not respond like this when there were outbreaks in several fitness gyms and dance studios, restaurants, banks, etc,” he said in an opinion piece for Stand News. “It’s because to them we are easy targets and scapegoats. It’s because they know we don’t have much choice but to follow their discriminatory, illogical, and unreasonable impositions or end up jobless.”

The comments by Locsin echoed those by the Philippines consul general, Raly Tejada, who said his office had been very supportive of Hong Kong’s free vaccine programme, but if it was to become mandatory for work contracts then it should be non-discriminatory and include “other non-resident workers who are similarly situated so that there is no feeling of being singled out”.

In explaining the new rules, Hong Kong’s minister for labour, Dr Law Chi-kwong, said the “high risk group” mainly spent their holidays with friends, which could lead to cross-family infections. The migrant workers, who usually travel alone to Hong Kong, have one day off a week and frequently gather in public places to socialise away from the home where they work.

“In the long run, we need to think about how to get more domestic workers vaccinated,” said Law.

On Sunday the Hong Kong government said the labour department was “working out the relevant details” on mandatory vaccines. It said its mandatory testing programme did not discriminate based on race or status, but did not address accusations that its plans for mandatory vaccines were.

It appealed to all workers to get their vaccines voluntarily “to protect their own health and that of their employers’ family and others, and to avoid being subject to any regular testing in the future”.

It also urged employers to encourage their workers and to give them sufficient rest after getting vaccinated. Those who could not be vaccinated for health reasons could get an exemption, it added.

On Sunday health authorities reported the second consecutive day of no community transmission cases detected. There had been about 20 in the past two weeks.

Diego Maradona was in agony for the 12 hours leading up to his death, his treatment was "reckless and indifferent," Argentine medical board says


By Iván Pérez Sarmenti and Jack Guy, CNN 

Marcos Brindicci/Getty Images Diego Armando Maradona, at the time head coach of Gimnasia y Esgrima La Plata, greets fans prior to a match against Boca Juniors at the Alberto J. Armando Stadium on March 7, 2020 in Buenos Aires.

Diego Maradona was in agony for 12 hours and the medical team treating him was "deficient, reckless and indifferent" when faced with his possible death, according to a report from the medical board appointed to investigate his demise.

The Argentine football great "did not have full use of his mental faculties" and could have had "a better chance of survival" if he had been admitted to a healthcare facility, the medical board concluded in its report, which will become of the part of the judicial investigation into this death, the prosecutor handling the case confirmed to CNN.

© Jorge Duran/AFP/Getty Images Argentine soccer star Diego Maradona, wearing a diamond earring, balances a soccer ball on his head as he walks off the practice field following the national selection's May 22, 1986 practice session in Mexico City.

Investigators are looking into why the former footballer was treated at a house during his final days and whether his psychological state allowed him to make decisions of his own accord, as well as looking into a lack of treatment for his heart condition, among other things

© David Cannon/Allsport/Getty Images Diego Maradona in action during a 1986 World Cup qualifying match against Peru at the National Stadium on June 23, 1985 in Lima, Peru.

Each of these elements is mentioned in the medical board report, which CNN obtained from a source working on the case.


No one has been formally charged, but seven people have been told they are under investigation, although they deny any responsibility.

READ: Tormented genius who became one of football's greatest players


'He would have had a better chance of survival'

"Although it is counterfactual to assert that DAM (Diego Armando Maradona) wouldn't have died if he had been treated adequately, taking into account what was known about the days leading up to his death we agree that he would have had a better chance of survival if he had been treated in a healthcare facility according to medical best practice," reads the report.

The work of Maradona's medical team, led by neurosurgeon Leopoldo Luque and psychiatrist Agustina Cosachov, was heavily criticized by the investigators.

In addition to calling their actions "inadequate, deficient and reckless," the board said it is possible to infer "that the medical team viewed fully and completely the possible death of the patient, were completely indifferent to the possibility and didn't change their behavior or treatment plan, sustaining the damaging omissions laid out previously, leaving the health of the patient 'to chance.'"

In November, Luque told prosecutors about his professional relationship with Maradona. "There is nothing to suggest I was negligent," he said.

In December, Cosachov's lawyer told CNN that his client "had used her best judgment from a medical point of view."

READ: Diego Maradona did 'everything better and bigger, but fell more dangerously and darker'


'He started to die at least 12 hours prior'

The experts also confirmed the results of an autopsy which determined that the cause of death was "acute pulmonary edema secondary to the exacerbation of chronic cardiac insufficiency" and tests did not find drugs or alcohol in his system.

But they underlined that Maradona, who was aged 60 at the time of his death, suffered prolonged agony.

"DAM started to die at least 12 hours before 12.30 p.m. on 25/11/2020, which is to say there were unmistakable signs of a period of prolonged agony, and as a result we conclude that the patient was not adequately monitored from 00:30 a.m." that day.

"The warning signs that the patient exhibited were ignored," continue the experts, who also mention an audio message sent to Maradona's loved ones by physical therapist Nicolás Taffarel.

"Last week I told them we had to get him up because he could develop a pulmonary edema," he said.



READ: Naples mourns Diego Maradona as his former club bids to rename the stadium in his honor


'He did not have full use of his mental faculties'

The former footballer "did not have full use of his mental faculties, nor was he in a fit state to make decisions about his health, from at least the time he was admitted to (the medical clinic in the city of La Plata)," according to the report.

It goes on to discuss the supposed "home hospitalization" Maradona received at a house in Tigre, in the northern part of Buenos Aires, after he was checked out of the Olivos Clinic on November 11, and where he died two weeks later.

The board said the home hospitalization "was not so, as the basic conditions to hospitalize a patient with multiple complex pathologies like those DAM had did not exist."

The medical experts also asserted that the nursing team at the house was "plagued by irregularities and deficiencies," that the "correct checks and care" were not performed by "practicing physicians" and "therapeutic assistants."

Finally, the board discussed the psychiatric medication prescribed to Maradona.

Despite being "suitable in both dosage and posology for his nervous disorder," it can't be ruled out "that this medication didn't play a role in the fatal outcome" as "cardiological and laboratory tests were not carried out in the 14 days before death."

Although all of those being investigated say they committed no wrongdoing, they have not yet commented on the medical board report, which will be analyzed by prosecutors working on the case to decide how the judicial investigation will move forward.

Covid: political chaos and poverty leave South America at virus’s mercy

Tom Phillips in Rio 


South America produced some of the most horrific episodes of the pandemic last year, with mass graves dug in the Brazilian Amazon and bodies dumped on pavements in the Ecuadorian city of Guayaquil. But at the end of 2020 there was some hope that with the onset of vaccination the worst might have passed. Brazil’s president, Jair Bolsonaro, even claimed the crisis had reached its “tail-end” in December.

© Photograph: Amanda Perobelli/Reuters 

A protest in Sao Paulo against President Bolsonaro’s handling of the pandemic, 30 April 2021.

Such predictions have proved grotesquely misguided. Brazil’s death toll has since more than doubled to more than 400,000, after an explosion of infections caused a catastrophic healthcare collapse. At least 100,000 Brazilians have died in the last 36 days and 100,000 more are expected to lose their lives before July.

Many of Brazil’s neighbours are also in dire straits, including Uruguay, which was once heralded as a regional success story but in April suffered its deadliest month. On Thursday Argentina, Paraguay and Colombia all registered their highest daily death tolls with 561, 505 and 106 fatalities respectively. The mayor of Colombia’s capital, Bogotá, urged residents to stay at home, warning they faced “the most difficult two weeks – not of the pandemic, but of our lives”. The situation in authoritarian Venezuela is harder to gauge, but also appears to be deteriorating.

© Provided by The Guardian A man cycles past shuttered businesses during the strict lockdown in Bogotá, Colombia. Photograph: Fernando Vergara/AP

Last week South America, home to 5.5% of the world’s population, suffered nearly 32% of all reported Covid deaths. “What’s happening is a catastrophe,” Argentina’s health minister, Carla Vizzotti, admitted as her country’s Covid restrictions were extended until late May.

Public health experts say South America’s agony is partly the result of longstanding structural problems, including underfunded health systems and poverty. Effective quarantine policies have proved impossible to enforce in a region where between 30% and 60% of workers are employed in the informal sector.

“People need to eat,” said Michel Castro, a 31-year-old resident of Rio’s Chatuba favela, who nearly died from Covid but understood why neighbours were still going out to work. Castro scoffed at the emergency payments that hard-up families were being offered by the government. “It’s nothing. It’s like trying to quench somebody’s thirst with a pipette,” he said.

Political chaos has also been crucial to the virus’s spread. Bolsonaro’s sabotage of social distancing has earned him international notoriety and made him the focus of a domestic parliamentary inquiry that began last week. Upheaval in Peru – which has had three presidents since the pandemic started and is about to elect a fourth – has also hampered efforts to tame an outbreak which has killed at least 61,000 people.

But many specialists suspect South America’s current collapse is largely the work of the more contagious P1 variant that emerged late last year in the Brazilian city of Manaus and has spent 2021 rampaging across the continent, from Lima to Buenos Aires.

“Manaus should have been shut down: airports, ports, roads. This wasn’t done,” said Jesem Orrelana, a local epidemiologist who believes Brazil’s failure to contain the variant is to blame for South America’s current woes.

Orrelana said P1 was being aided and abetted by public exhaustion with South America’s seemingly endless epidemic, with many resuming their normal lives despite soaring infections and deaths.

The vaccination of older age groups offered some hope that future waves would be less deadly – but even that was not assured if new variants appeared. “You cannot underestimate coronavirus,” Orrelana warned. “If it was capable of doing this in 2021, it could easily do it again in 2022.”

Cuban government ends leading dissident's hunger strike
By Marc Frank

 1 day ago

© Reuters/ALEXANDRE MENEGHINI FILE PHOTO: 

Dissident artist Luis Manuel Otero Alcantara speaks during an interview in Havana, Cuba

HAVANA (Reuters) - Cuba's government put an end on Sunday to a week-long hunger strike staged by a leading dissident - the head of a group that has protested state censorship of artistic works - and was reported by authorities to be in stable condition.


A note published by the Havana Department of Public Health said Luis Manuel Otero Alcantara was "referred" to a local hospital early on Sunday for "self-imposed food deprivation" and arrived by ambulance "and walking without difficulty." He had spent seven days without food or fluids.

The San Isidro Movement led by Otero Alcantara, a performance artist, is a dissident group that includes a few dozen artists, writers and activists.

The health department said the hospital had found no sign of malnutrition or other chemical imbalances but said Otero Alcantara had been admitted, was in stable condition and was being attended to by physicians.

Members of the San Isidro movement said state security had forced Otero Alcantara from his home and that he was in custody, presumably at the hospital. They questioned the report and demanded more information.

"How is it possible he has no signs of malnutrition or dehydration after being on a hunger and thirst strike for more than 7 days?" the group asked in a Twitter post.

Otero Alcantara's home had been surrounded by police for days with no one allowed in or out during his hunger strike.

The U.S. State Department in a Twitter post on Saturday had expressed concern over Otero Alcantara's health and urged "the Cuban government to take immediate steps to protect his life and health."

People can survive more than a month without food, but rarely more than 10 days without food or fluids.

Members of the San Isidro Movement in November had staged a hunger strike against censorship and harassment of independent creators and activists by the Communist government. Police ended the hunger strike, prompting a rare protest by around 300 people in front of the Culture Ministry in Havana.

Authorities since then have vilified members of the group as outside agitators working with the United States. Its members repeatedly have been temporarily detained and often told they cannot leave their homes, with communications cut.

Otero Alcantara was arrested a few weeks ago as he protested a Communist Party congress by sitting in a garrote. Authorities seized or destroyed some of his art.

In his hunger strike, Otero Alcantara was demanding a return of his art, compensation, freedom of expression and an end to police harassment. The dissident group has been appealing for support since his hunger strike began, gaining little traction in Cuba but notice some abroad including from human rights organizations and the U.S. government.

(Reporting by Marc Frank; Editing by Will Dunham)

Italian rapper accuses state TV of attempted censorship

© Provided by The Canadian Press

MILAN — Italian rapper Fedez received a wave of public support Sunday after going public with attempts by RAI state television to censor his planned remarks on homophobia during an annual Worker's Day concert.

Fedez prevailed and made the statement as planned during the Saturday evening concert, saying it was the first time he had ever been asked to submit his remarks ahead of time.

He went on to read homophobic statements by members of Italy's right-wing League party. The rapper's remarks were made in support of legislation that seeks to punish discrimination and hate crimes against gays and transgender people, but which is stalled in parliament by right-wing opposition.

After RAI denied putting pressure on the rapper, Fedez released a recording of a phone call with a RAI executive and co-workers during which he was told that his remarks would be “inappropriate" and discouraging him from using the first and last names of the politicians he was citing.

The head of state-run RAI has promised to investigate.

Among those supporting Fedez were two former premiers, Enrico Letta, now head of the Democratic Party, and Giuseppe Conte, who has been tapped as head of the 5-Star Movement. Letta called on RAI to apologized to the rapper.

Gay rights groups mostly welcomed Fedez' words. The president of Arcigay, Gabriele Piazzoni, said he “gave voice to millions of us,” while the spokesman of Partito Gay (Gay Party), Fabrizio Marrazzo, said the phone call with the RAI management was “disconcerting” and called on RAI's oversight board to intervene.

The president of Equality Italia, Aurelio Mancuso, was more cautious, warning that polarization could further stall the proposed law, “which must be approved in the Senate, not on Fedez' Instagram page.”

League leader Matteo Salvini, meanwhile, went on an offensive, reiterating his reasons for opposing the legislation in television appearances and social media posts and offering to debate the issue on TV with Fedez.

Still, Salvini distanced himself from the remarks by the League members, calling them “disgusting.”

The so-called Zan Law, named for a Democratic Party lawmaker and gay rights activist Alessandro Zan, would add women along with people who are gay, transgender or have disabilities to the classes of those already protected under a law banning discrimination and punishing hate crimes.

Right-wing politicians object to language they claim would make it a crime to publicly oppose gay marriage or adoptions by gay people.

Colleen Barry, The Associated Press

Montreal 'ghost bike' honoring dead cyclist to be displayed in museum

MONTREAL — The dangerous stretch of Montreal underpass where Mathilde Blais died while cycling to work now has a bike path, with a concrete median to separate the riders from traffic passing by.

© Provided by The Canadian Press

And on Sunday, the white commemorative "ghost" bike installed to honour the 33-year-old woman's death was taken down to be sent to a museum, where it will highlight both the dangers of cycling and the progress made to make cities safer.


Groups in several Canadian cities have installed the white-painted bicycles at intersections where cyclists are killed, both as a memorial and a call to action for better infrastructure.

A ceremony was held to remove the bicycle honouring 33-year-old Blais, who died after being struck in the underpass seven years ago.

A coroner's report found her death was avoidable, and urged governments at all three levels to work to improve road safety for cyclists.

Blais' mother was on hand as the white bicycle, which was decorated with flowers, was taken down and handed to the president of Quebec City's Museum of Civilization.

Advocates said the ceremony was held to highlight the ongoing risk cyclists face, but also to recognize the progress that has been made.

They said Blais' death spurred efforts to build the protected bicycle path that now runs past the site of her death.

"Had this been in place seven years ago, Mathilde would not have died," said Séverine Le Page of Vélo Fantôme, the group that organizes the ghost bicycles in the city.

Le Page said the creation of the bicycle path, called the Réseau express vélo or REV, means the Blais' commemorative bicycle can finally be taken down and replaced with a plaque, with the permission of her family.

But she says other ghost bikes will remain in place throughout Montreal because the infrastructure is not yet in place to protect cyclists.

Quebec's automobile association says between 8 and 11 cyclists die on the province's roads each year.

Genevieve Laborde, Blais' mother, described her daughter as someone who always wanted to help others, whether it was through her work as a speech pathologist or by helping the homeless.

"I'm happy to know you can ride safely, because seven years ago it was a very dangerous place," she said of city cyclists.

Museum President Stéphan La Roche said the bicycle would be put on display as a "tangible witness to our social evolution."

He said it was a symbol of grief but also of increasing awareness of the need for safe urban infrastructure to protect cyclists and pedestrians from cars.

This report by The Canadian Press was first published May 2, 2021

Morgan Lowrie, The Canadian Press

CRIMINAL CAPITALI$M

OSC alleges Toronto-based Bridging Finance 'mismanaged' funds, breached 'numerous' laws

Barbara Shecter 

POSTMEDIA

2/5/2021

A Toronto-based investment management firm with $2 billion in assets under management has been put into court-approved receivership while the Ontario Securities Commission conducts an investigation into questionable related-party transactions and movement of funds to personal bank accounts.

© Provided by Financial Post A Toronto Police Services officer at the Ontario Securities Commission.

In an unusual twist, David Sharpe, the chief executive and one of the main operators of Bridging Finance Inc., which raises capital from investors to make loans to corporate borrowers in exchange for limited partnership units, is himself a former mutual fund regulator.

According to documents filed in court, enforcement staff of the Ontario Securities Commission “has uncovered evidence that BFI and certain members of its senior management team … appropriated amounts from the BFI Funds for personal gain … mismanaged the BFI Funds, including by failing to disclose material conflicts of interest … (and) breached numerous securities laws and regulations, including by misleading Enforcement Staff.”

As a result, Canada’s largest capital markets regulator asked an Ontario court judge Friday to appoint receiver PriceWaterhouseCoopers Inc. “to safeguard the best interests of stakeholders, the reputation of Ontario’s capital markets, and the integrity of the ongoing investigation.”

Ontario Says Lender Misappropriated Funds, CEO Took Payments

Opinion: Reform capital markets for growth and prosperity

The OSC says husband and wife Natasha and David Sharpe, who was director of investigations at the Mutual Fund Dealers Association between 2005 and 2009, are “the two most senior officers and decision-makers at the firm.”

She founded Bridging Finance, serves as executive chairman and is a minority shareholder. She was previously CEO and chief investment officer, according to the OSC.

The regulator’s investigation has focused on a series of transactions between 2017 and 2020, and potential conflicts of interest arising from the relationship between the firm, certain directors, officers and shareholders and the principals of some of the loan counterparties.

Among other things, the OSC alleges that, under Sharpe’s direction, “BFI misappropriated approximately $35 million from the BFI Funds to complete an acquisition for its own benefit.”

In addition, the documents filed in court allege David Sharpe received approximately $19.5 million in undisclosed payments in his personal chequing account from a company that was controlled by a person whose other firms BFI had loaned more than $100 million.

The regulator termed the evidence uncovered so far as “significant and credible” in the document.

Daniel Tourangeau, lead investigator and a senior forensic accountant with the OSC, said in an affidavit filed in the Ontario Superior Court of Justice that the enforcement team found evidence that contradicted explanations given to them by Bridging Finance about the reasons for a buyout transaction, the source of various funds and use of funds to repay certain loans.

Tourangeau said he reviewed transactions involving David Sharpe’s chequing account and was “unable to ascertain a legitimate business purpose” for the undisclosed payments deposited there.

“Instead, it appears that D(avid) Sharpe used the undisclosed payments for his personal benefit or enjoyment” including transferring $11.7 million to investment accounts at BMO Nesbitt Burns and Richardson GMP, of which “at least $1.4 million appears to have been later transferred offshore,” Tourangeau said in the affidavit.

A further $228,000 went to vehicle expenses at Tesla Motors and Holand Leasing, “which I believe relates to the lease payments made in connection with the lease of a 2013 Bentley GTC Mulliner and a 2018 Bentley Bentayaga,” the forensic accountant said in the document.

Other funds were transferred to personal bank accounts and may have been used for construction or renovations and donations to educational institutions including Queen’s University, Tourangeau said in the affidavit.

On the business, side, Tourangeau said OSC investigators were told by Sharpe and others at Bridging Finance that a company called Ninepoint sought to be bought out of a fund co-management arrangement with Bridging because Ninepoint was under financial pressure.

However, in an interview with investigators, John Wilson, co-CEO and chief investment officer at Ninepoint, “instead explained that BFI and Ninepoint entered into discussions to sever the co-management arrangement after Ninepoint threatened BFI with litigation over concerns it had with transactions” in the fund accounts.

According to Wilson, Tourangeau said in his affidavit, an operational review revealed that Bridging Finance had transferred $20 million from the Income Fund to fund a loan and then reversed the transaction. However, the $20 million that came back into the Income Fund came from accounts related to other BFI Funds rather than the law firm trust account that initially received the money.

“This concerned Ninepoint” and Wilson and others at Ninepoint questioned Sharpe and others about it.

“After a back and forth, Ninepoint threatened BFI with litigation and BFI offered to purchase the Management Interest” from Ninepoint, Tourangeau said in the affidavit, adding that no one at Bridging Finance interviewed during the investigation mentioned the dispute with Ninepoint.

INDONESIA

Video: INTERNATIONAL WORKERS DAY/ MAYDAY

Labour Day rally to protest job creation law (Associated Press)

Colombia's president withdraws tax reform after protests

By Julia Symmes Cobb 

MAY 2,2021

© Reuters/LUISA GONZALEZ FILE PHOTO: Protest against the tax reform, in Bogota

BOGOTA (Reuters) -Colombian President Ivan Duque said on Sunday he would withdraw a proposed tax reform after sometimes violent protests and widespread lawmaker opposition, though he insisted a reform is still necessary to ensure fiscal stability.

© Reuters/LUISA GONZALEZ FILE PHOTO: Protest against the tax reform, in Bogota

Duque said on Friday the law would be revised to remove some of its most controversial points - including the leveling of sales tax on utilities and some food - but the government had previously insisted it could not be withdrawn.

© Reuters/LUISA GONZALEZ FILE PHOTO: Protest against the tax reform, in Bogota

Protests against the reform have led to multiple deaths around the country since they began on Wednesday.

"I am asking Congress to withdraw the law proposed by the finance ministry and urgently process a new law that is the fruit of consensus, in order to avoid financial uncertainty," Duque said in a video.

The reform, which the government has insisted is vital to stabilizing Colombia's finances, maintaining its credit rating and funding social programs, remains necessary, Duque said.

Political parties, local officials, business leaders and civil society have contributed valuable ideas over the last several days, he said.

There is consensus on the need for temporary taxes on businesses and dividends, an increase in income tax for the wealthiest and deepened state austerity measures, Duque said.

"It is a moment for all of us to work together without malice," he said.

The central bank warned on Friday failure to approve the reform could have a negative impact on the economy, while a loss of the country's investment-grade credit rating has already been priced in by many investors.

Lawmakers, unions and other groups hailed the announcement as a victory. Celebratory cacerolazos, a traditional protest where people beat pots and pans, could be heard in some neighborhoods.

"It is the youth, social organizations and mobilized citizens who have seen deaths and defeated the government," leftist Senator Ivan Cepeda said on Twitter. "May the government not present the same reform with make-up. The citizens won't accept tricks."

There is not yet a definite national count of deaths connected to protests, amid incidents of looting, destruction of public transport and road blockades in several cities.

Local officials in Cali, the country's third-largest city and where demonstrations have been the most violent, have confirmed three. Another death occurred in Neiva and a police officer was killed in Soacha.

Human rights groups have alleged police abuses - especially in Cali - and said deaths number more than 20.

Duque said late on Saturday cities at high risk for disturbances would get military assistance, an offer rejected by Bogota Mayor Claudia Lopez.

(Reporting by Julia Symmes Cobb; Editing by Lisa Shumaker)