Reebok slams CrossFit in outrage over CEO's tweet

Yahoo – AFP, June 8, 2020

Reebok said it would end its partnership with CrossFit Inc. once it fulfils its current
contract obligation as the title sponsor for the 2020 CrossFit Games (AFP Photo/
TIMOTHY A. CLARY)

Los Angeles (AFP) - Sports footwear giant Reebok has decided to end its partnership with CrossFit Inc. later this year following an insensitive comment by the fitness organization's chief executive concerning protests against racial injustice roiling the US.

Reebok said Sunday it would make the move once it fulfils its current contract obligation as the title sponsor for the 2020 CrossFit Games.

"Recently, we have been in discussions regarding a new agreement, however, in light of recent events, we have made the decision to end our partnership with CrossFit HQ," Reebok said in a statement Sunday.

CrossFit chief executive Greg Glassman tweeted, "It's FLOYD-19" on Saturday after the Institute for Health Metrics and Evaluation classified racism and discrimination as a public health issue.

Human rights groups expressed outrage at the tweet, calling it insensitive to the current events and the death of George Floyd, a black man who died in police custody on May 25 in Minneapolis, Minnesota.

Floyd was killed when officer Derek Chauvin, who is white, kneeled on his neck for nearly nine minutes.

Chauvin has been charged with second-degree murder and manslaughter, while three other officers have been charged with abetting murder and manslaughter.

Reebok and CrossFit previously signed a deal that named the athletic footwear company as the title sponsor for the CrossFit Games.

Other affiliates like CrossFit Magnus also decided to cut ties with the Washington, DC-based global fitness organization.

"After eight years as a CrossFit affiliate we are ending our affiliation," CrossFit Magnus spokesman Nick Hurndon wrote in a social media post.

"We will no longer continue to 'carry your water,' as it is antithetical to anything we stand for and only serves the continuation of systemic racism."

CrossFit has over 13,000 gyms in more than 120 countries and generates some US$4 billion in annual revenues.

The Netherlands is a tax haven alongside Ireland, Malta and Cyprus, say MEPs

DutchNews, March 27, 2019

Photo: Joep Poulssen

Members of the European parliament have voted to include the Netherlands, Ireland, Luxembourg, Malta and Cyprus on the official EU tax haven black list. 

However the motion, proposed by Dutch Labour MEP Paul Tang, will not have any affect on the listing because members states have to unanimously approve every inclusion, the Financieele Dagblad said on Wednesday. 

The official EU blacklist of places considered to facilitate tax evasion now comprises 15 countries, after 10, including Aruba, were added earlier this month. However, Tang said this did not go far enough, and referred to research last year by the European Commission which said the Netherlands cooperated with ‘aggressive tax planning’. 

Tang’s motion was passed by 408 to 205. 

Dutch junior finance minister Menno Snel said in a reaction that he was astonished by the vote. ‘The Netherlands has a leading position in the battle against international tax evasion,’ he told the FD.

Do Kraft Heinz's travails signal a reckoning in US food?

Yahoo – AFP, John BIERS, March 10, 2019

As Campbell Soup turns 150, the company is having to rethink the business of soup
due in part to competition from private label companies. (AFP Photo/Jerod Harris)

New York (AFP) - Buffeted by rising consumer taste for fresh ingredients, competition from upstarts and a tricky retail environment, 150-year-old Campbell Soup now finds itself having to rethink the business of soup.

It is a similar tale at Kraft, whose once-popular yellow and white cheese singles are no longer ubiquitous. And at Kellogg, which has seen demand for cereal go soft.

As the travails of these and other companies show, iconic brands that dominated 20th century American supermarkets are having a much tougher time in the Amazon-Whole Foods era.

Kraft Heinz last month announced a steep annual loss following a $15.4 billion asset impairment, partly from writing down the value of the Oscar Mayer and Kraft trademarks.

Some experts see a broader reckoning in the American food industry akin to the shakeout in other sectors, though technology is not really the main culprit in this case.

Many of Kraft Heinz's products are "geriatric brands" that were "created in the early or mid-20th century, at a time when consumers aspired to eat 'American food' and advertising reached almost everyone through television," said Anastacia Marx de Salcedo, author of "Combat-Ready Kitchen," a history of processed foods.

By contrast, today's consumers are more ethnically diverse, health-conscious and food-adventurous, she said, adding that many of the older brands will see market share fall further or disappear entirely.

A huge write-down by Kraft Heinz has sparked questions about a reckoning in

the broader US food business. (AFP Photo/JUSTIN SULLIVAN)

Saved by treats, snacks

The industry's response thus far has included healthier options that are low-fat, low-sodium or gluten-free items. There are also more flavors of flagship products, with Special K breakfast cereal now available in vanilla and almond as well as blueberry with lemon clusters, among other options.

But these efforts have not reversed the trend.

Major food companies also have popular cookie and snack products that can make up for weakness in other products, although the industry's overall record with consolidation is mixed.

Campbell Soup, which has faced pressure from activist investor Daniel Loeb, has offset weakness in soup with solid Pepperidge Farm sales.

The company acquired Pepperidge Farm, known for Milano cookies and Goldfish crackers, in 1961.

But Campbell Soup last year wrote down $748 million mostly on a 2011 acquisition of Bolthouse Farms' refrigerated salad dressings, carrots and other fresh foods it now plans to divest.

Soups, meanwhile, remain challenged, suffering lower US sales in 2018.

Campbell's blamed the decline on the change in promotion strategy by a major retail customer and said retail sector consolidation and the rise of private label competitors could further affect sales, according to a securities filing.

General Mills, maker of Haagen-Dazs, paid $8 billion for a pet food company, 

raising eyebrows (AFP Photo/Denis Charlet)

Campbell's new Chief Executive Mark Clouse said last month he was still developing a strategy for turning around soups but that a "much more holistic and comprehensive" approach was needed.

Targeting Rover

At General Mills, which announced a $193 million write down last year on Progresso soups and two other brands, part of the strategy is to diversify.

Last year, General Mills, which makes Cheerios cereal, Yoplait yogurt and Haagen-Dazs ice cream, bought natural pet food company Blue Buffalo for $8 billion, a sum that raised eyebrows with some analysts.

Chief Executive Jeffrey Harmening gave a bullish outlook on the brand during a recent conference call, highlighting wet pet food and treats as two growth areas that have high profit margins.

Treats "are just pet food speak for snacking and we see snacking can trend in human food and we see it in Pet the same way," Harmening said, calling the dynamic the "humanization of pet food."

Times change: In an earlier era, now disgraced actor Bill Cosby marketed Jell-O 

gelatin, a product of Kraft Heinz, which recently announced a big 2018 loss (AFP Photo/

Michael Buckner)

Whither Miracle Whip?

But the dangers of acquisitions were underscored with Kraft Heinz, which shareholder Warren Buffett has said was a case of spending too much.

Baruch Lev, an accounting professor at New York University, said big mergers like Kraft Heinz usually underperformed, undermining the logic of further deal-making by the company.

Daniel Binns, chief executive of Interbrand NY, said some of Kraft Heinz's brands, such as pasta sauce Classico or Philadelphia cream cheese can be successfully updated, while others, such as Jell-O or Miracle Whip sauce, could fade further.

"It's so rooted in another era," he said. "You're not going to create a Miracle Whip for the 21st Century that's going to appeal to the farm-to-table consumer."

But Moody's analyst Brian Weddington predicts leading food companies will adapt to changing consumer needs over time, adding that established brands still have credibility.

"Brands like these still resonate with the core consumer," he said.

"There's no question that more consumers are looking for premium or fresher products, but there will always be a very large market for products that give you consistency and value as well. Everyone can't afford organic products."

Indian court declares tycoon Mallya a 'fugitive economic offender'

Yahoo – AFP, 5 January 2019

A British court in December ruled Indian tycoon Vijay Mallya can be extradited to his
homeland to face fraud charges, although Mallya has challenged the London court order

Billionaire tycoon Vijay Mallya was declared a "fugitive economic offender" by an Indian court Saturday, the first businessman to be indicted under the country's new anti-money laundering law.

The Fugitive Economic Offenders Act approved in August targets suspects who flee abroad or ignore warrants, and allows the government to confiscate assets of those accused of financial frauds and crimes.

The new law enables authorities to charge suspects if the case involves at least one billion rupees ($14 million).

The special court in Mumbai declared Mallya an economic fugitive following a request by India's financial fraud police that is investigating money laundering charges against him.

The court is also due to hear another prosecution plea to seize Mallya's properties.

The 62-year-old liquor baron fled the country in 2016 after failing to repay state-owned banks more than $1 billion in loans that prosecutors say was diverted to other businesses.

The owner of Kingfisher beer and head of the Force India Formula One team is currently in the United Kingdom.

A British court in December ruled he can be extradited to his homeland to face fraud charges, although Mallya has challenged the London court order.

Mallya was once known as the "King of Good Times" but dropped off India's most wealthy list in 2014, engulfed by Kingfisher Airlines' massive debts.

Known for his lavish lifestyle, Mallya made Kingfisher beer a global brand.

He has been living in a sprawling $15 million mansion in southeast England but has denied absconding and any wrongdoings, instead saying the charges are politically motivated.

Remington bankruptcy shows depth of US gun slump

Yahoo – AFP, John BIERS, March 26, 2018

Gun reform advocates line Pennsylvania Avenue while attending the March for
Our Lives rally March 24, 2018 in Washington, DC (AFP Photo/WIN MCNAMEE)

New York (AFP) - The US gunmaker Remington filed for bankruptcy protection on Sunday, a day after marchers swarmed US cities nationwide to call for greater regulation of firearms.

But the hard times now facing gun companies began in November 2016.

That was when Donald Trump's surprise election victory in the US led to a sudden drop in US firearms demand, which had been robust until then as gun owners stockpiled in anticipation of a Hillary Clinton presidency.

With Trump an avowed gun rights supporter with boasts of warm ties to the National Rifle Association, in office, gun enthusiasts slowed purchases, causing a glut. Massive discounting and deep layoffs at firearms companies soon followed.

Gunmakers now face intensifying public scrutiny following the February 14 Florida school shooting that left 17 dead, sparking Saturday's "March for our Lives."

Retailers such as Dick's Sporting Goods and Walmart have moved to to distance themselves from the extreme end of the political spectrum on gun rights -- with aversion spreading to the financial sector as well.

But the immediate problem facing Remington and other firearms companies is the expectation for "new, lower levels of consumer firearm demand," American Outdoor Brands chief executive James Debney said earlier this month.

He said "flattish" firearms sales could persist for another 12-18 months.

Headquartered in North Carolina, Remington dates to 1816, making it one of the nation's oldest gunmakers.

Besides guns, it makes bullets and barrel equipment, employing 2,700 people at seven facilities in the US and exporting to 52 countries, chief financial officer Stephen Jackson said in a filing in US Bankruptcy Court in Delaware.

Remington experienced a "significant decline in sales" over the last year when demand "ultimately did not materialize" after the company boosted output in 2016, Jackson said.

Operating profits in 2017 dwindled to just $33.6 million, less than one third the level just two years earlier, Jackson said.

Some financers say no

On February 12, two days before the Parkland shooting, Remington signaled plans to file for bankruptcy protection, saying it reached a preliminary agreement with its creditors to allow the company to operate while it reorganizes.

Protestors chant during the March for Our Lives rally on March 24, 2018 in 

Chicago, Illinois (AFP Photo/JIM YOUNG)

Remington however encountered difficulty with efforts to expand its pool of financers for the period after the bankruptcy filing, according to Ari Lefkovits, managing partner of Lazard Freres, which was hired by Remington.

"Lazard approached over 30 potential funding sources to provide such financing," Lefkovitz said. "The vast majority of lenders contacted, however, indicated that they were reluctant to provide financing to firearms manufacturers."

Remington instead turned to its existing lenders, including JPMorgan Chase and Franklin Advisers, Lefkovits said. Several others with long relationships with Remington, including Bank of America and Wells Fargo, are also providing financing during the propcess.

The reorganization, considered a "prepackaged" bankruptcy because the major parties have already reached agreement, would eliminate $775 million in debt and shift to creditors control of new equity.

Besides the financial incentive to stay in the transaction, banks involved in the bankruptcy might face legal liabilities if they walked away now.

Bank of America and JPMorgan declined to comment. Wells Fargo did not immediately respond to request for comment.

The bankruptcy comes amid intensifying pressure on major companies to take a stand on guns.

Last week, Citigroup became the first major US bank to unveil significant new policies on guns, announcing it would require retail clients to bar sales to those under 21 or to people who have not passed a background check.

Citigroup said it would also start "due diligence" among its gun manufacturing clients to understand their operations and whether they are in line with "common sense" gun policy.

Asset manager BlackRock, the largest shareholder in several leading gun stocks, has also signaled plans to intensify scrutiny.

It said in a March 2 notice that it was taking steps to reach out to clients who do not want to hold gun stocks and stepping up engagement with firearms executives on their products.

Heineken pledges to act on new claims of sexual abuse in Africa

DutchNews, March 26, 2018

Brewing giant Heineken has pledged to do more to protect its sales agents in Africa after NRC published allegations of widespread sexual abuse in 10 countries where it operates. 

Around 2,000 women work for the Amsterdam-based multinational firm as ‘promotional girls’ on the continent as part of a global sales force numbering 15,000 women, according to internal research carried out in 2007. 

Their work involves going round bars, cafes and restaurants with promotional crates to persuade owners to stock Heineken brands. NRC said many of the recruiters were sexually assaulted or propositioned by cafe staff in the course of their work. In some cases prostitutes combined beer promotion with their regular work to win new clients for both themselves and the brewery. 

One Nigerian-based promoter, named as Sylvia by the newspaper, said the sales teams were warned not to make a fuss about unwanted sexual advances. ‘They warned us that we would come across men with bad intentions. You have to tolerate it because you want to make more sales and strengthen the brand.’ 

Her colleague, named as Peace, said she encountered unwanted sexual attention on a nightly basis. ‘It’s a public place so it doesn’t get as far as rape. That only happens if the girls go with the clients, but that’s their choice. Our employer says: if you can’t stand being touched, go and find another job.’ 

Outsourced 

Heineken said it was difficult to monitor the work because most of it was outsourced, but pledged to step up its efforts to cut out abuse of its agents. ‘The practices described are totally at odds with what we stand for as a company and we condemn these abuses in the strongest terms,’ the company said in a statement.

‘This subject deserves more attention in Africa than it has received in recent years from us and other interested parties. Together with our local workers’ councils, promotional agencies and other relevant parties we will take further steps to tackle these abuses and prevent them happening in future.’ 

Sylvia and Peace were not directly employed by Nigerian Breweries, Heineken’s subsidiary in Lagos, but via an agency that was hired through another subcontractor, making the chain of command unclear. On average they were paid the equivalent of €7 for a night’s work. 

They estimated that around half their colleagues earned extra money through sexual services. ‘Those girls couldn’t live on their wages and were desperate. Sex earned more,’ said Peace.

‘High risk’ 

Emeka Dumbili, of the Alcohol and Drugs Research Institute in Benin City, told NRC Heineken was still recruiting young women in Nigerian provincial cities in order to use their bodies to sell the company’s products. ‘It’s a marketing strategy to sell beer: it reinforces drinking beer as a masculine, heterosexual activity.’ 

Heineken carried out an internal study in 2007 which led to 70 markets being labelled ‘high risk’ for women working to sell their brands, but the findings prompted too few active measures, former personnel staff member Katinka van Cranenburgh told NRC. 

She said: ‘A few improvements were probably made in some countries, but head office has taken a hands-off approach and isn’t on top of the situation. I noticed that the guidelines are no longer online with other company policies, as if it’s no longer an issue.’ 

CEO of Japan's Kobe Steel says to quit after fake data scandal

Yahoo – AFP, 6 March 2018

Kobe Steel President Hiroya Kawasaki's resignation is a new blow to the
reputation of Japan Inc after similar quality-control scandals hit industrial titans

The head of scandal-hit Japanese steelmaker Kobe Steel announced his resignation on Tuesday after the firm submitted false strength and quality data for products shipped to hundreds of clients worldwide.

Hiroya Kawasaki's resignation was a new blow to the reputation of Japan Inc after similar quality-control scandals hit industrial titans ranging from carmaker Nissan to Mitsubishi Materials.

Kawasaki has been in the job since 2013 and is due to step down next month. The firm has not yet named a successor.

In a long-awaited report into the scandal, the firm found that staff -- including executives -- changed inspection data, or made up data, before shipping their products.

"It must be said that our company has deep-rooted problems in terms of the corporate culture ... on top of an (insufficient) compliance regime," the report said.

"During the 112 years since our foundation, Kobe Steel has conducted its business by valuing the trust of customers, clients, shareholders and other stakeholders.

"It is to our extreme regret that we have lost that trust," added the report.

Lactalis feels heat as families rebuff CEO's pledges on salmonella

Yahoo – AFP, January 15, 2018

Quentin Guillemain, president of the Lactalis victim's association, said the
explanations given by the Lactalis boss fell far short of expectations (AFP
Photo/Eric FEFERBERG)

Paris (AFP) - Pressure rose on French dairy giant Lactalis on Monday as the parents of babies who became sick after drinking salmonella-laced milk demanded answers over a scare affecting dozens of countries.

Lactalis CEO Emmanuel Besnier said at the weekend that more than 12 million packages of Picot, Milumel, Celia and other brands of powdered baby milk had been recalled in 83 countries and offered to compensate all the affected families.

An association of victim's families, which met with the government on Monday, has rejected the offer, accusing Lactalis of trying to buy their silence.

The association's president Quentin Guillemain said Monday the explanations given by Besnier in an interview Sunday -- his first since the outbreak in December -- fell far short of expectations.

"We still don't know where they are, we don't know if they have been destroyed or if they've been drunk," he said.

He said it also remained unclear when the salmonella outbreak at Lactalis's Craon plant in western France first occurred, suggesting it could have been before 2017, the period initially covered by the recall announced in December.

"It's a question we asked once again, and as of now we have not had any response," said Guillemain, who has demanded an apology from Lactalis.

His group has disputed health authorities' tally of 37 children sickened by the salmonella outbreak in France, saying that without systematic testing of babies brought to doctors, the true figure remains unknown.

Hundreds of families have filed lawsuits against the company.

Anger has been growing since it emerged that Lactalis's own tests had discovered salmonella at the Craon site in August and November, but did not report the findings because it had no legal obligation to do so.

Besnier denied claims that Lactalis had lied about the dates and number of stocks affected by the salmonella outbreak.

"At no point was there any intention of hiding things," he said.

Government spokesman Benjamin Griveaux said Sunday the company's explanations were insufficient.

"When you have a case of milk on the market which has clearly caused complicated health problems for children, it means at some point there was negligence," Griveaux said.

Parents of babies who became sick after drinking salmonella-laced milk demand answers from Lactalis https://t.co/Cq9KKs2XDV pic.twitter.com/2mui1LaAYz

— AFP news agency (@AFP) January 15, 2018

Lafarge ex-CEO denies knowing of Syria payments until late

Yahoo - AFP, 16 December 2017

Former Lafarge CEO Bruno Lafont has been charged with "financing a
terrorist organisation and "endangering the lives of others"

A former CEO of French-Swiss cement maker LafargeHolcim said he was made aware of payments to the Islamic State group in August 2014, contradicting an account by another top executive, a source close to the case said Saturday.

Lafarge is accused of paying the terrorist group and other militants $12.9 million between 2011 and 2015 so that the company's factory in Jalabiya, northern Syria, could continue to operate despite the war.

According to a report commissioned by LafargeHolcim and seen by AFP, Lafarge's Syrian subsidiary Lafarge Cement Syria (LCS) paid out some $5.6 million (4.7 million euros) between July 2012 and September 2014.

Of this, more than half a million dollars went to IS, according to an April report by US consultants Baker McKenzie.

Last week, Bruno Lafont -- chief executive from 2007 to 2015 when the company merged with the Swiss building supplies company Holcim, before serving as co-chairman of LafargeHolcim until April this year -- was charged with "financing a terrorist organisation and "endangering the lives of others".

The group's former Syria chief Christian Herrault and Eric Olsen, who took over from Lafont as CEO after the company merged with Switzerland's Holcim, were also charged with the same crimes.

Investigators contend that Lafont was aware of the millions of dollars being paid to various armed groups including IS.

The three men have been in detention since December 6.

According to the source, Lafont told judges in a hearing that Herrault announced "an agreement with Daesh (IS)" during a board meeting in August 2014.

"I did not comment at the time, except to say that the deal was not a good idea," Lafont said, adding that he then decided to close the plant.

It would eventually fall into the hands of the Abu Bakr al-Baghdadi group a few weeks later, on September 19, 2014.

'Regularly informed'

Herrault acknowledged earlier this year that Lafarge was involved in a "racket", but that he kept Lafont "regularly informed", according to the commissioned report.

Herrault apparently told Lafont about what was going on in Syria beginning in summer 2012 and of the jihadist payments in September-October 2013.

Herrault told judges he paid IS "the sum of 5 million Syrian pounds ($20,000) monthly from November 2013," because "all the stakeholders have to make sure that this investment lasts and works".

"There are many things I did not know and that may have been hidden from me," Lafont told the judges.

The former CEO denied having wanted to stay in Syria at all costs only for a "commercial" reason, seeing as the group had spent $680 million on its Jalabiya factory a few years earlier.

"Obviously an asset of that amount is taken into account but it is not the only thing taken into account," Lafont said. "A cement factory is very difficult to dismantle (and) our custom is to not let people down".

Lafont told judges he realised in July 2013 that the situation in Syria had worsened and that the company needed an exit strategy.

"Mr. Lafont never expressed doubts or any intention of closing the factory to Mr. Herrault from that date and until August 2014," Herrault's lawyer Solange Doumic said.

Lafont's lawyer was unavailable for comment.

Lafarge hung on for another 14 months, after most French companies had left as IS made major territorial gains.

Three former officials at the Jalabiya factory were also charged in the case last week.

Japan's Kobe Steel scandal spreads, 500 firms affected

Yahoo – AFP, October 13, 2017

The embarrassing scandal at Kobe Steel, a venerable firm that once employed
Prime Minister Shinzo Abe, has already hit wide sections of Japanese industry
(AFP Photo/STR)

Tokyo (AFP) - Japan's Kobe Steel admitted Friday that a snowballing falsified data scandal had affected around 500 customers, more than twice as many as initially thought.

More than 30 foreign customers were affected, including Boeing, Airbus, General Motors, Tesla, German automaker Daimler and PSA of France, according to Japan's leading Nikkei business daily.

The new estimate comes as Kobe Steel's battered stock fell almost nine percent to finish at 805 yen ($7.20), down more than 40 percent since the start of the week after it admitted falsifying strength and quality data for a string of products -- a practice it said may have started a decade ago.

The embarrassing scandal for a venerable firm that once employed Prime Minister Shinzo Abe has already hit wide sections of Japanese industry, including automakers Toyota, Nissan and Honda which used the materials in their vehicles.

The company had previously admitted to falsifying quality data for products sold to some 200 clients.

"Combined with previously announced clients, it will total about 500 firms," Yoshihiko Katsukawa, a senior Kobe Steel executive, told a press conference.

"Please let us refrain from naming specific clients that have been affected. We have communicated with our customers and have discussed ways to confirm the safety" of our products, he added.

In the United States, General Motors said that it did use aluminum from Kobe Steel "in certain models and we are working with Kobe to understand the potential impact".

The CEO of Japan's number-three steelmaker insisted Friday that the affected products did not appear to pose a safety risk.

The company and its clients agreed on certain quality specifications, which it did not meet in many cases.

"So far, our review and investigation has shown there has not been any problem that raises concrete doubts about the safety of our products that did not meet specifications," Hiroya Kawasaki told a press briefing.

"We are resolved to take swift and appropriate actions when and if we see cases that raise safety doubts in our products."

On Thursday, Kawasaki acknowledged that trust in his firm has "fallen to zero".

"The crisis is ongoing so it's tough to know at this point how big the impact on the company will be and which industries it will affect," Hideyuki Suzuki, head of the investment information section at SBI Securities, told AFP.

"Kobe Steel's share price will hit bottom once the financial impact on the company becomes clear," he added.

About 66 percent of the company's sales are in Japan with the rest going to China and other overseas markets.

The crisis marks the latest in a string of quality control and governance scandals to hit major Japanese businesses in recent years, undermining the country's reputation for quality.

The affected products include steel wires used in car engines and tyres -- a key company product -- as well as aluminium found in Japan's bullet trains and materials in high-speed trains in Britain.

"If it was found that there are safety problems (with steel wires) it could shake the foundation of Kobe Steel," Takayuki Atake, manager of credit research at SMBC Nikko Securities, said in a report. 

Dutch prosecutors reach $274m deal with Telia in Uzbek corruption case

DutchNews, September 22, 2017

Photo: Despositphotos.com 

Three Rotterdam based subsidiaries of Swedish telecom giant Telia have agreed to pay $274m in an out of court settlement for bribing government officials and keeping inaccurate books and records. 

The fine relates to the company’s efforts to gain access to the Uzbek telecom market, during which officials paid bribes to the eldest daughter of the former president of Uzbekistan via its Dutch subsidiaries, the public prosecution department said. The deal covers the period 2007 to 2010. 

Telia has also reached settlements with the US department of justice and the US securities and exchange commission. In total, the company has agreed to pay $965m to settle the charges. 

The Netherlands considers the fine as ‘appropriate’, the Dutch prosecutor said in a statement. ‘It is a punishment that hurts, and it does justice to the significance of the acts committed as well as to the disruption these acts caused to the legal order.  The parallel [US] government action against corruption demonstrates that corruption is tackled internationally.’ 

Wall Street's 'Fearless Girl' statue to stay until 2018

Yahoo – AFP, March 28, 2017

The " Fearless Girl " statue on Wall Street is seen by many as a defiant symbol of
women's rights under the new administration of President Donald Trump (AFP Photo/
TIMOTHY A. CLARY)

New York (AFP) - The popular bronze statue of a young girl staring down a bull on Wall Street will stay in place until March 2018, New York Mayor Bill de Blasio announced Monday.

Initially installed on March 7 for one week, the "Fearless Girl" sculpture appeared in media around the world, seen by many as a defiant symbol of women's rights under the new administration of President Donald Trump, who has bragged about sexually assaulting women.

The exhibit of artist Kristen Visbal's work was first extended until April 2 and is now set to run until next year's International Women's Day on March 8.

De Blasio, an outspoken Trump critic, said the statue "means so much to the people of New York," especially the city's women and girls.

"She spoke to the moment," he told reporters in front of the defiant girl.

The relevant municipal agencies voted in favor of keeping the statue, he said.

New York City Mayor Bill De Blasio poses for a photo with the "Fearless Girl" 

statue in New York City (AFP Photo/Drew Angerer)

The artwork was installed by asset managers State Street Global Advisors, with City Hall's agreement.

It marked the start of the firm's campaign to encourage companies in which it invests to increase the number of women on their boards of directors.

The young girl faces down the "Charging Bull" sculpture, installed in December 1989 -- also temporarily at first -- by Italian-American artist Arturo Di Modica to symbolize "the strength and power of the American people."

It has since become a symbol of Wall Street.

Visbal chose to depict a young girl to show others that it is possible for them to forge a career on Wall Street, Manhattan Borough President Gale Brewer said.

She was referring to a recent report showing that fewer than 20 percent of board seats of S&P 500 companies are occupied by women.

"We can issue all the reports we want," Brewer said, "they will have not have the symbol a sculpture does."

Related Article:

"Recalibration of Free Choice"–  Mar 3, 2012 (Kryon Channelling by Lee Carroll) - (Subjects: (Old) Souls, Midpoint on 21-12-2012, Shift of Human Consciousness, Black & White vs. Color, 1 - Spirituality (Religions) shifting, Loose a Pope “soon”, 2 - Humans will change react to drama, 3 - Civilizations/Population on Earth,  4 - Alternate energy sources (Geothermal, Tidal (Paddle wheels), Wind), 5 – Financials Institutes/concepts will change (Integrity – Ethical) , 6 - News/Media/TV to change, 7 – Big Pharmaceutical company will collapse “soon”, (Keep people sick), (Integrity – Ethical)  8 – Wars will be over on Earth, Global Unity, … etc.) - (Text version)

"... Integrity That May Surprise…

Number five: There will be those who think it impossible to have a search for integrity and fairness in all things. In other words, Human Beings will not simply go with what they are told is the status quo. They will look at it and they will say, "Well, I think it could be better. I'm going to look around for something that has more integrity and fairness." Yes, there will be those who tell you, "Look, the institutions hold all the cards and you have to do it their way. If you want health insurance or you want loans from the banks for your home, you better do it their way." I have news for you. Even this is going to change.

"What are you going to do?" the Human asks. "They hold all the power!" In the past, there was nothing you could do. Now I'll tell you what the potentials are. You're going to pull out the puzzle and look past the walls of the maze. You're going to say, "Well, then I'll start my own institution." And some will. The new institutions, based on integrity, will sweep right past an old energy. In other words, there will be those who are young today who are going to start a new way of banking, a new way of health care, and a new way of insurance. And when you see these plans, you'll say, "Why didn't we think of that?"

Have you seen innovation and invention in the past decade that required thinking out of the box of an old reality? Indeed, you have. I can't tell you what's coming, because you haven't thought of it yet! But the potentials of it are looming large. Let me give you an example, Let us say that 20 years ago, you predicted that there would be something called the Internet on a device you don't really have yet using technology that you can't imagine. You will have full libraries, buildings filled with books, in your hand - a worldwide encyclopedia of everything knowable, with the ability to look it up instantly! Not only that, but that look-up service isn't going to cost a penny! You can call friends and see them on a video screen, and it won't cost a penny! No matter how long you use this service and to what depth you use it, the service itself will be free.

Now, anyone listening to you back then would perhaps have said, "Even if we can believe the technological part, which we think is impossible, everything costs something. There has to be a charge for it! Otherwise, how would they stay in business?" The answer is this: With new invention comes new paradigms of business. You don't know what you don't know, so don't decide in advance what you think is coming based on an old energy world.

The Unthinkable… Politics, A Review

Humans will begin to search for integrity and fairness and it's going to happen in the places you never expect. I said this last week, so this is a review. There'll come a time when you will demand this of your politics - fairness and integrity. So when the candidates start calling each other names, you will turn your back on them and they won't get any votes. They're going to get the point real fast, don't you think? How about that?

Let me give you another potential. This country that I sit in right now [USA] will set the mold for that particular attribute. I have no clock. Watch for the youngsters to set this in motion, and they will, for they are the voters of tomorrow and they do not want the energy of today. To some of them, it's so abominable they won't even register to vote in this energy. You're going to see this soon. That was number five.

The News

Number six. I'll be brief. Watch for your news to change. It has to. When the media realizes that Human Beings are changing their watching habits, they're going to start changing what they produce for you to watch. Eventually, there's going to be something called "The Good News Channel," and it will be very attractive indeed. For it will be real and offset the drama of what is today's attraction. This is what families at night, sitting around the table, will wish to watch. They'll have something where the whole picture of a situation is shown and not just the dramatic parts. You will hear about what's happening on the planet that no one is telling you now, and when that occurs [we have no clock, dear one], it's going to compete strongly with the drama. I keep telling you this. Human nature itself is starting to be in color instead of black and white. Watch for it. And that was number six.

Predictions

There are two more. Very recently we gave you a prophecy of prediction. We reiterate it now. Right now on the planet there's something in the works that is going to bring big pharma to its knees. Much like what happened to the tobacco industry, where there was a realization of a lack of integrity, there was alarm and outrage. You saw an industry that knowingly addicted the young and caused death, and this was revealed. And it didn't take that long, did it? And we said this not too long ago, and I repeat: When you see an entire industry that, for monetary reasons, is willing to keep people sick for profit, it's going to fall over. Sooner than later. You're going to see the rumblings of it very soon.

You're going to start to see Human Beings look at their health in a different way. Do you know what the real answer to long-term health care is? Not only in this country, but the earth? I will give you a hint. Don't get sick! And that, dear Human Being, is what I'm going to tell you is at hand. Coming is an understanding of the body in a way you have not understood it before. Your DNA is built to regenerate and last for hundreds of years. Right now, you're here for a moment and you die. The research is there. The beginning of extended life is there. Human Beings are going to search for things that are natural and processes that have always existed, and that will have an avenue of opening because of the demise of big pharma. And you'll wonder why you didn't know it before and you will look back and cringe, like you do today with the ads of the '50s with the doctor smiling, recommending a certain kind of tobacco.

I don't have a clock, dear one. I cannot tell you when. I can only guarantee you it is going to happen. It has to. You cannot have systems that are that large that have no integrity existing in the new energy. Do you understand? Then there are those who will say, "I hope it happens while I'm here." Oh, it will. Maybe you won't be who you are today, but you'll be here to see it, old soul. [Kryon smile] And that was number seven.

The End of War

The last one is the best. For thousands of years on this planet, Human Beings have warred with each other. If you take a look at the reasons they warred with each other, you will quickly see there aren't any good ones - land, resources, greed. Those are not reasons. That is a description of old energy. Those are not reasons. Reasons would be perhaps defense against an aggressor. But what if there is no longer the consciousness of the aggressor?

When I appeared in my partner's life more than 20 years ago, I said to him privately that the first messages we're going to give will be unbelievable. There would be laughter. We told him that Human nature and consciousness itself would change, and that the seeds of peace would be planted and there would come a time where there is no more war. Indeed, the laughter was great because humans look at history and they see patterns based on an absolute energy called Human Nature. "Impossible! There always has to be war. There always has been. Therefore, there always will be." This is you, in a box, in a black and white potential, where you can only see the black and white of what is and the black and white of what has been. You have no idea the shades of color that are there in your consciousness and the beauty of the love of God.

North Korea is on the edge of change, as we told you it might be. What did this require? The death of the old energy, and I want you to watch this take place. The advisors of the young leader are going to do their best to pull him back into an old energy. This free choice of his will be far different than his father, for he sees some color. Watch for these things. They'll take longer than you want, but it is the beginning of the beginning.

You'll see a fresh unification of South America sooner than not, for what is going to take place potentially this year in Venezuela. You'll see Iran changing. We have no clock. These are the potentials. These can change with free choice. These are not prophecies. This is a reality shift, dear ones, so number eight becomes the propensity not to war again. This is what Humans are going to want. This is what governments are going to want. There is a wisdom factor that will begin to happen on the planet that is grander than what you think is possible. For when you look at government, what do you think about? You see dysfunction, and there is an axiom that says the more people that try to do something together, the worse it gets. It all settles to the lowest common denominator. I'm telling you even those things are going to become old energy concepts. Instead, you're going to watch wisdom become the top potential.

I have no clock. I cannot tell you when. I can just tell you it is in the works, and there will be the seeds of it for you to observe soon - right now, in every single of the eight categories I showed you.

There are those who will say, "Well, Kryon, you're doing a lot more predictions than you used to." I want to tell you what's going on, dear one. I am not predicting anything. I am just telling you what's already there in the potential soup of your reality. That's what Humans are doing on this planet, and for those who believe this communication, you should breathe a sigh of relief and say, "It's about time."

I'm about to leave yet again, but not before this admonition. Seed planters, you have 18 years to plant these new seeds. They will grow faster if you do it now rather than later. Your part to play is to have a higher consciousness in these areas at home and at work, and to show those around you what you know through your wisdom. Show them the love of God in your life by treating them as you would yourself - to be slow to anger and quick to forgive. Create solace around you, a bubble of peace around you that is so desirable that people will want to be with you. Be non-judgmental.

These are the seeds that will change the Crystalline Grid of this planet, and your children and their children are the ones who will inherit what you do today. This shift is about consciousness change; it's why you're here.

This is the truth of this day, and again, I say it: All things may pull backwards a bit before they move forward, but this is the way of things and always has been. If you look at the last 50 years, you will see a tremendous change in Human nature. However, it's nothing compared to what you're going to see.

I am Kryon. Twenty-two years ago, my partner let me into his life. I knew it would take four more years for him to get going, and it did. Eighteen years ago was when the alignment started, and that's when the work began. I am here because of what humanity did. Kryon has always been on the planet, but only in the last 18 years were the messages profound about the shift. The grid alignment group arrived in 1989 and left in 2002 and the magnetics were set. Then Human consciousness began to shift as we said it would.

This is our message for today. Leave differently than you came.

And so it is.

KRYON