Indian Muslim girl gang-raped, murdered in UK

Washington, Jan 25: US President Donald Trump's legal team was preparing his defence on Saturday after the Democratic prosecutors ended their marathon 24-hour argument to oust him from office during the Senate trial.

In the arguments spread over three days ending on Friday, the Democrat prosecutors from the House of Representatives that had impeached Trump last month, mostly rehashed the testimonies from the hearings before their committees during the investigation and statements in their chamber.

Like the Democrats' arguments, the Trump defence's counter-arguments, also with 24 hours allotted for it, will be mind-numbing monologues for the most part and the real drama will be on a tussle between the two parties on calling witnesses.

The Democrats failed in their repeated attempts on the first day of the trial on January 28 to include calling testimonies from witnesses in the rules of procedure, but they will get another chance to press their case when the defence rests.

There is a tense wait speckled with speculations to see if the Democrats can get four Republicans to defect and vote to call witnesses after failing to sway a mass defection to get the two-thirds majority to convict Trump.

Trump is charged with abuse of power and obstruction of Congress in the trial presided over by Supreme Court Chief Justice John Roberts with the Senators acting as jurors.

As the time allotted for the prosecution wound down on Friday, the leading prosecutor, Adam Schiff, demanded that the Republican-controlled Senate convict and remove Trump from office, because he was an "imminent threat" to the US and the nation could not wait for the election to throw him out.

Schiff, who heads the House Intelligence Committee that investigated Trump, gave them a personal warning: "No matter how close you are to this president, do you think for a moment that if he felt it was in his interest, he wouldn't ask you to be investigated?

Jerry Nadler, the head of the Judicial Committee that framed the charges in the impeachment, called Trump a "dictator".

Instead of a full sitting of eight hours, the defence will present its case for only two to three hours on Saturday in what Trump's lawyer Jay Sekulow called a "trailer (for) coming attractions" in the defence counterarguments.

They will get to use their remaining time next week.

The shorter session starting with fuller presentations next week is partly a concession to media savvy Trump who tweeted that daytime Saturday when his defence was slated is a "death valley" on TV as few viewers would watch a political event at that time.

With Trump certain to be acquitted because the Democrats do not have the two-thirds vote, the impeachment process and the Senate trial are only meant to be an extended media show in their campaign for the November election.

The Democrats want to spiff up the TV spectacle by calling former National Security Adviser John Bolton and Trump's acting Chief of Staff Mick Mulvaney as witnesses.

Trump could exercise his executive privilege to stop them from testifying, in which case they could go to court to compel their appearance at the Senate trial extending its duration by months if not weeks.

The House charged him with obstruction of Congress because he refused to allow some of this staff to testify and release documents requested by the House investigators.

The Republicans, who want a quick end to the trial, can also counter the Democrats' request for witnesses by calling former Vice President Joe Biden and his son, Hunter, to testify in order to embarrass them and their party.

The Bidens are at the root of the abuse of power charges against Trump.

Trump had asked newly-elected Ukrainian President Volodymyr Zelentsky in a July phone call to investigate the Bidens' dealings in his country as a "favour".

Democrats say that this was inviting foreign intervention in US elections because Joe Biden is the leading Democratic party candidate for the nomination to oppose him.

Moreover, they say that he froze about $400 million in Congressionally-approved military aid for pressure Zelentsky to order the probe and this endangered US national security as Ukraine is at war with Russia.

chiff and the other prosecutors said delaying the aid was an attempt at a quid pro quo.

Zelentsky has said that he did not feel pressured by Trump.

Hunter Biden, who was removed from the Navy allegedly due to drug use and had no energy business experience landed a directorship in a Ukrainian gas company with monthly payments reportedly between $50,000 and $83,000 while his father was overseeing Washington's dealings with Kiev.

The former Vice President has publicly admitted that he got the Ukrainian leaders to fire the prosecutor investigating his son's company.

The Republicans have said that the son's appointment was unethical and the father had the prosecutor removed to protect his son's company.

In their arguments, the Democratic prosecutors said there was nothing wrong in Hunter Biden getting the job and his father had the prosecutor dismissed because he was corrupt.

The defence team is expected to assert that Trump withheld the aid because he wanted to be sure that the new government was not corrupt and the aid was released without a probe.

Anticipating the argument, Schiff said that Trump had allowed the aid to go forward only because it became known and his intent still made him guilty.

In another development impinging on the Trump case, a secret recording said to be of the president ordering the firing of Marie Yovanovitch as US ambassador to Ukraine in 2018 has surfaced.

She was one of the witnesses at the House investigations of the charges against Trump.

New York, Apr 21: Oil prices plunged below zero on Monday as demand for energy collapses amid the coronavirus pandemic and traders don't want to get stuck owning crude with nowhere to store it.

Stocks were also slipping on Wall Street in afternoon trading, with the S&P 500 down 0.9%, but the market's most dramatic action was by far in oil, where benchmark U.S. crude for May delivery plummeted to negative $3.70 per barrel, as of 2:15 pm. Eastern time.

Much of the drop into negative territory was chalked up to technical reasons — the May delivery contract is close to expiring so it was seeing less trading volume, which can exacerbate swings. But prices for deliveries even further into the future, which were seeing larger trading volumes, also plunged.

Demand for oil has collapsed so much due to the coronavirus pandemic that facilities for storing crude are nearly full.

Tanks could hit their limits within three weeks, according to Chris Midgley, head of analytics at S&P Global Platts.

Benchmark U.S. crude oil for June delivery, which shows a more ”normal” price, fell 14.8% to $21.32 per barrel, as factories and automobiles around the world remain idled. Big oil producers have announced cutbacks in production in hopes of better balancing supplies with demand, but many analysts say it's not enough.

“Basically, bears are out for blood,” analyst Naeem Aslam of Avatrade said in a report. “The steep fall in the price is because of the lack of sufficient demand and lack of storage place given the fact that the production cut has failed to address the supply glut.”

Halliburton swung between gains and sharp losses, even though it reported stronger results for the first three months of 2020 than analysts expected. The oilfield engineering company said that the pandemic has created so much turmoil in the industry that it “cannot reasonably estimate” how long the hit will last. It expects a further decline in revenue and profitability for the rest of 2020, particularly in North America.

Brent crude, the international standard, was down $1.78 to $26.30 per barrel. .

In the stock market, the mild drops ate into some of the big gains made since late March, driven lately by investors looking ahead to parts of the economy possibly reopening as infections level off in hard-hit areas.

Pessimists have called the rally overdone, pointing to the severe economic pain sweeping the world and continued uncertainty about how long it will last.

The Dow Jones Industrial Average was down 364 points, or 1.5%, to 23,887. The Nasdaq was down 0.1%..

More gains from companies that are winners in the new stay-at-home economy helped limit the market's losses Amazon rose 1.4%, and Netflix jumped 3.8% as people shut in at home buy staples and look to fill their time. Clorox likewise rose toward a new record and was up 1% as households and businesses that remain open look to stay clean.

In Tokyo the Nikkei 225 fell 1.1% after Japan reported that its exports fell nearly 12% in March from a year earlier as the pandemic hammered demand in its two biggest markets, the U.S. and China.

The Hang Seng index in Hong Kong lost 0.2%, and South Korea's Kospi fell 0.8%.

European markets were modestly higher The German DAX was up 0.5%, the French CAC 40 was up 0.7% and the FTSE 100 in London gained 0.7%.

In a sign of continued caution in the market, Treasury yields remained extremely low. The yield on the 10-year Treasury slipped to 0.64% from 0.65% late Friday. It started the year near 1.90%. Bond yields drop when their prices rise, and investors tend to buy Treasurys when they're worried about the economy.

Stocks have been on a generally upward swing recently, and the S&P 500 just closed out its first back-to-back weekly gain since the market began selling off in February. Promises of massive aid for the economy and markets by the Federal Reserve and U.S. government ignited the rally, which sent the S&P 500 up as much as 28.5% since a low on March 23.

More recently, countries around the world have tentatively eased up on business-shutdown restrictions put in place to slow the spread of the virus.

But health experts warn the pandemic is far from over and new flareups could ignite if governments rush to allow ”normal” life to return prematurely.

The S&P 500 remains about 15% below its record high in February as millions more U.S. workers file for unemployment every week amid the shutdowns.

Many analysts also warn that a significant part of the recent recovery in stocks is due to the expectation among some investors that the economy will rebound sharply once economic quarantines are lifted. They're essentially predicting that a line chart of the economy will ultimately resemble the letter “V,” with a wild ride down but then a quick pivot to a vigorous recovery.

That may be to optimistic. “We caution that a U-shaped recovery is also quite likely,” where the economy bottoms out and stays at that low level for a while before recovering, strategists at Barclays warned in a recent report.

Without strong testing programs for COVID-19, businesses likely won't feel comfortable bringing back their full workforces for a while.

”With risk assets now overbought, the chance for a correction has increased,” Morgan Stanley strategists wrote in a report.

Beijing, Feb 6: The number of confirmed fatalities from China's coronavirus outbreak rose to at least 560, after authorities in hardest-hit Hubei province reported 70 new deaths on February 6.

In its daily update, the health commission in Hubei also confirmed the number of confirmed infections in the outbreak has reached 28,018 nationwide with 3,694 new cases reported.

The epidemic, which has spiralled into a global health emergency, is believed to have emerged in December from a market that sold wild game in Hubei's capital Wuhan.

Hu Lishan, an official in Wuhan, warned Wednesday that despite building a hospital from scratch and converting public buildings to accommodate thousands of extra patients, there was still a "severe" lack of beds in the region.

There was also a shortage of "equipment and materials," he told reporters, adding that officials were looking to convert other hotels and schools in the city into treatment centres.

Authorities in several other cities in China have placed restrictions on the number of people allowed to leave their homes.

Global concerns have also risen about the virus, with cases confirmed in more than 20 countries.