Amazon CEO Jeff Bezos and wife MacKenzie to divorce

Agencies
January 10, 2019

Jan 10: Amazon.com Inc founder and Chief Executive Jeff Bezos, the world's richest person, and his wife MacKenzie Bezos are divorcing after 25 years of marriage, the couple said on Twitter on Wednesday.

Jeff Bezos, 54, has a fortune that has soared as high as $160 billion thanks to his stake in Amazon, which again became Wall Street's most valuable company this week, surpassing Microsoft Corp.

Bezos has credited MacKenzie, 48, for her support when he uprooted the young couple to Seattle from New York to launch Amazon, an online bookseller that grew into the world's largest internet retailer.

MacKenzie Bezos, a Princeton graduate who is now a novelist, did accounting for Amazon for its first year after it was founded in 1994.

The couple decided to divorce after a long period of "loving exploration" and trial separation, and expect to remain partners in ventures and projects, according to the joint statement.

Amazon shares ended up 0.2 percent on Wednesday. The divorce should have no material impact on the company and its shares, said Tom Forte, an analyst at DA Davidson & Co.

According to Refinitiv Eikon data, MacKenzie does not hold any Amazon shares directly, while Bezos has a 16.1 percent stake worth about $130 billion. Forbes magazine now estimates his overall net worth at $137.1 billion.

Liat Sadler, a San Francisco matrimonial lawyer, noted that spouses owe a fiduciary duty to one another.

“They have duties not to waste or devalue marital resources, and to keep the value of marital property as high as possible,” she said. “I don't think there is an issue of concern for shareholders as to what will happen to Amazon because of the divorce."

Sadler said the main options facing the couple regarding Amazon stock were for Jeff Bezos to buy out his wife, or for MacKenzie Bezos to retain shares.

"If she trusts that he would manage Amazon well, either he should pay her for her share of the stock, or they could enter a more complicated agreement where she keeps stock and he keeps voting rights,” she said.

It is unlikely that many details of the divorce will become public, according to New York lawyer Bernard Clair, who represents Judith Giuliani in her divorce from Rudolph Giuliani, the former New York City mayor and current lawyer for U.S. President Donald Trump.

"These two have been separated for a not insignificant time, and I would assume ... they would have used the time to reach a private, confidential agreement,” Clair said, referring to Jeff and MacKenzie Bezos.

Reuters was unable to determine any further financial details of the planned divorce.

"Jeff remains focused on and engaged in all aspects of Amazon," said Drew Herdener, vice president of communications for the company. He declined to comment on how the divorce might affect the ownership stake.

MacKenzie Bezos met her husband when interviewing for a job at a New York hedge fund, according to a 2013 profile in Vogue.

The two were engaged after three months of dating and married three months after that, according to the magazine. They have four children.

Speaking at an event in Berlin last April, Jeff Bezos said his wife's support was instrumental when he founded Amazon.

"When you have loving and supportive people in your life, like MacKenzie, my parents, my grandfather, my grandmother, you end up being able to take risks," he said.

Jeff Bezos in September committed $2 billion through the Bezos Day One Fund to helping homeless families and starting pre-schools for low-income communities. He had solicited ideas on Twitter in 2017 for ways to donate some of his wealth.

Last January, the couple donated $33 million to fund college scholarships for U.S. high schoolers with Deferred Action for Childhood Arrivals (DACA) status, an Obama-era program protecting young immigrants brought to the United States illegally by their parents.

In 2012, they donated $2.5 million to a Washington state campaign to legalize same-sex nuptials there.

From modest beginnings, Amazon branched out into almost every product category, taking on established retailers such as Walmart Inc.

In November, Amazon picked America's financial and political capitals for massive new offices, branching out from its home base in Seattle with plans to create more than 25,000 jobs in New York City and a Virginia suburb of Washington, D.C.

Jeff Bezos also founded space company Blue Origin in 2000, and is funneling more than $1 billion a year of his own fortune into pulling it out of start-up mode and into production.

He also owns the Washington Post, which has been a frequent target of criticism from Trump.

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News Network
January 6,2020

Aboard Air Force One, Jan 6: US President Donald Trump threatened sanctions against Baghdad on Sunday after Iraq's parliament called on US troops to leave the country, and the president said if troops did leave, Baghdad would have to pay Washington for the cost of the air base there.

"We have a very extraordinarily expensive air base that's there. It cost billions of dollars to build, long before my time. We're not leaving unless they pay us back for it," Trump told reporters on Air Force One.

Trump said that if Iraq asked US forces to leave and it was not done on a friendly basis, "we will charge them sanctions like they've never seen before ever. It'll make Iranian sanctions look somewhat tame."

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Agencies
May 22,2020

Riyadh, May 22: The family of murdered Saudi journalist Jamal Khashoggi on Friday said that they forgave his killers. Washington Post journalist Jamal Khashoggi, who had written columns critical of Saudi Arabia, was brutally killed in October 2018, allegedly at the behest of Crown Prince Mohammad bin Salman.

“In this blessed night of the blessed month [of Ramadan] we remember God’s saying: If a person forgives and makes reconciliation, his reward is due from Allah,” Jamal Khashoggi’s son Salah Khashoggi said in a tweet. “Therefore, we the sons of the Martyr Jamal Khashoggi announce that we pardon those who killed our father, seeking reward [from] God almighty.”

The legal outcome of this announcement is not yet clear. Earlier, Salah Khashoggi said he had “full confidence” in the judicial system, and that the accused were trying to exploit the case.

Jamal Khashoggi’s body was said to have been dismembered inside the Saudi consulate in Istanbul and disposed of elsewhere, but his remains were never found.

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Agencies
May 31,2020

Minneapolis, May 31: The full Minnesota National Guard was activated for the first time since World War Two after four nights of civil unrest that has spread to other U.S. cities following the death of George Floyd, a black man shown on video gasping for breath as a white Minneapolis policeman knelt on his neck.

Minnesota Governor Tim Walz said the deployment was necessary because outside agitators were using protests over Monday’s death of George Floyd to sow chaos and that he expected Saturday night’s demonstrations to be the fiercest so far.

From Minneapolis to several other major cities including New York, Atlanta and Washington, protesters clashed with police late on Friday in a rising tide of anger over the treatment of minorities by law enforcement.

“We are under assault,” Walz, a first-term governor elected from Minnesota’s Democratic-Farmer-Labor Party, told a briefing on Saturday. “Order needs to be restored. ... We will use our full strength of goodness and righteousness to make sure this ends.”

He said he believed a “tightly controlled” group of outsiders, including white supremacists and drug cartel members, were instigating some of the violence in Minnesota’s largest city, but he did not give specific evidence of this when asked by reporters.

As many as 80% of those arrested were from outside the state, Walz said. But detention records show just eight non-Minnesota residents have been booked into the Hennepin County Jail since Tuesday, and it was unclear whether all of them were arrested in connection with the Minneapolis unrest.

The Republican Trump administration suggested civil disturbances were being orchestrated from the political left.

“In many places, it appears the violence is planned, organized and driven by anarchic and left extremist groups - far-left extremist groups ... many of whom travel from outside the state to promote violence,” U.S. Attorney William Barr said in a statement.

In an extraordinary move, the Pentagon said it put military units on a four-hour alert to be ready if requested by Walz to help keep the peace.

Activists staged another round of protests on Saturday in at least a dozen major U.S. cities coast to coast, including Seattle, Los Angeles, Chicago, Cleveland, Dallas, Atlanta, New York and Atlanta.

In the nation’s capital, hundreds of demonstrators assembled near the Justice Department headquarters, then marched toward the U.S. Capitol, chanting, “Black lives matter,” and “I can’t breathe,” a rallying cry echoing Floyd’s dying words.

Many later ended up near the White House, where they faced off with shield-carrying police, some mounted on horseback.

The streets of Minneapolis were largely quiet during daylight on Saturday, though several National Guard armoured personnel carriers were seen rolling through town.

On Friday, in defiance of a newly imposed curfew, Minneapolis protesters took to the streets for a fourth night - albeit in smaller numbers than before - despite the announcement hours earlier of murder charges filed against Derek Chauvin, the policeman seen in video footage kneeling on Floyd’s neck.

Three other officers fired from the police department with Chauvin on Tuesday are also under criminal investigation in the case, prosecutors said.

The video of Floyd’s arrest - captured by an onlooker’s cellphone as he repeatedly groaned, “please, I can’t breathe” before becoming motionless - triggered an outpouring of rage that civil rights activists said has long simmered in Minneapolis and cities across the country over persistent racial bias in the U.S. criminal justice system.

‘PAINS ME SO MUCH’

The mood was sombre on Saturday in the Minneapolis neighbourhood of Lyndale, where dozens of people surveyed the damage while sweeping up broken glass and debris.

“It pains me so much,” said Luke Kallstrom, 27, a financial analyst, standing in the threshold of a fire-gutted post office. “This does not honour the man who was wrongfully taken away from us.”

Some of Friday’s most chaotic scenes were in the New York City borough of Brooklyn, where police armed with batons and pepper spray made more than 200 arrests in sometimes violent clashes. Several officers were injured, police said.

In Washington, President Donald Trump said on Saturday that if protesters who gathered the night before in Lafayette Square, across from the White House, had breached the fence, “they would have been greeted with the most vicious dogs, and most ominous weapons, I have ever seen.”

CHAOS IN ATLANTA

In Atlanta, Bernice King, the youngest daughter of slain civil rights icon Martin Luther King Jr., urged people to go home on Friday night after more than 1,000 protesters marched to the state capitol and blocked traffic on an interstate highway.

The demonstration turned violent at points. Fires burned near the CNN Center, the network’s headquarters, and windows were smashed at its lobby. Several vehicles were torched, including at least one police car.

Rapper Killer Mike, in an impassioned speech flanked by the city’s mayor and police chief, also implored angry residents to stay indoors and to mobilize to win at the ballot box.

“But it is not time to burn down your own home.”

Floyd, a Houston native who had worked security for nightclubs, was arrested on suspicion of trying to pass counterfeit money at a store to buy cigarettes on Monday evening. Police said he was unarmed. An employee who called for help had told a police dispatcher that the suspect appeared to be intoxicated.

In a striking coincidence, Floyd and Chauvin had both worked security at the same Latin nightclub in Minneapolis, though it was unlikely they ever interacted, former owner Maya Santamaria, who sold the El Nuevo Rodeo club in January, told Reuters.

Santamaria said Floyd worked inside the club on certain nights, supporting other staff with security. She said Chauvin, who worked outside the club as an off-duty cop for 16 years, had a reputation for roughing up customers, but she considered him responsible and a friend.

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