Stubborn Trump to impose sanction on India for buying Iran oil

Washington, Jun 6: Washington mayor Muriel Bowser on Friday renamed an area near the White House that has become the epicenter of anti-racism protests over the past week "Black Lives Matter Plaza" -- unveiling a giant street mural.

But in so doing, the African-American mayor piqued the ire of the very movement she was supporting, as well as of President Donald Trump.

The protests are focused on the May 25 death in Minneapolis of 46-year-old black man George Floyd while in police custody. A white officer kneeled on his neck until he lost consciousness.

That officer and three others are now in custody and facing charges -- second-degree murder for the kneeling officer, and aiding and abetting that crime for his colleagues.

Just north of the White House, the words BLACK LIVES MATTER were painted in huge yellow letters along the street leading to the presidential mansion, along with the symbol from the DC flag.

"The section of 16th street in front of the White House is now officially 'Black Lives Matter Plaza'," Bowser tweeted.

A city worker put up a new street sign with the name.

"Determination to make America the land it ought to be," she said on Twitter.

The corner of 16th and H is significant -- in a controversial incident on Monday, peaceful protesters gathered there were dispersed with tear gas.

Shortly afterwards, Trump walked from the White House to a nearby church for a photo op, during which he held the Bible in his hand.

"There was a dispute this week about whose street this is. Mayor Bowser wanted to make it abundantly clear that this is DC's street and to honor demonstrators" who protested on Monday, her chief of staff John Falcicchio tweeted.

Rose Jaffe, one of the artists in the collective that painted the BLACK LIVES MATTER sign, told AFP it was "about reclaiming the streets of DC."

But she added that Bowser "has to do more than just a photo-op -- she must carry on when this is washed away" on issues like police accountability.

Stars Like LeBron James praised her move on Twitter, but the local chapter of the Black Lives Movement balked, calling the mural a "performative distraction from real policy changes."

"This is to appease white liberals while ignoring our demands," it said on Twitter, saying Bowser had "consistently been on the wrong side" of the movement.

'We are well equipped'

The US government deployed a significant contingent of federal officers and National Guard troops from other states -- many of them not wearing any identifying garb or badges -- to handle protests in Washington.

Bowser had called up the local Guardsmen but the Justice Department moved to take partial control of peacekeeping, with Guard troops from as far away as Utah brought in.

In a letter to Trump dated Thursday and tweeted early Friday, Bowser called for "all extraordinary federal law enforcement and military presence" to be removed.

She said their deployment was "inflaming demonstrators and adding to the grievances of those who, by and large, are peacefully protesting for change and for reforms to the racist and broken systems that are killing black Americans."

"These additional, unidentified units are operating outside of established chains of command," she added.

"We are well equipped to handle large demonstrations and First Amendment activities," including the right to assemble, Bowser said.

Trump reiterated on Friday that authorities need to "dominate the streets," and has been unapologetic about the deployment of forces.

And on Twitter, he lashed out at Bowser, calling her "incompetent" and saying the National Guard had saved her from "great embarrassment."

Senator Mike Lee of Utah accused Bowser of evicting Utah National Guard members from area hotels.

She replied: "DC residents cannot pay their hotel bills. The Army can clear that up with the hotel today, and we are willing to help."

Kathmandu, Jul 14: After staking claim to Indian territories of Lipulekh-Kalapani in  a new controversial map,  Nepal Prime Minister KP Sharma Oli on Monday claimed that Ayodhya, the birthplace of Lord Rama, is in Nepal and Lord Rama was Nepali.

“Although real Ayodhya lies at Thori, city in the west of Birgunj, India has claimed that Lord Rama was born there. Due to these continuous claims, even we have believed that deity Sita got married to Prince Rama of India. However, in reality, Ayodhya is a village lying west of Birgunj,” Oli claimed at an event organised at Prime Minister's residence in Kathmandu.

The Prime Minister also blamed India of cultural encroachment by “creating a fake Ayodhya.”

“Balmiki Ashram is in Nepal and the holy place where King Dashrath had executed the rites to get the son is in Ridi. Dashrath’s son Ram was not an Indian and Ayodhya is also in Nepal,” he claimed.

In an attempt to save self from criticism, Oli questioned how Lord Rama could come to Janakpur to marry Sita when there were "no means" of communication. He further said that it to be impossible for Lord Rama to come to Janakpur from present Ayodhya that lies in India.

“Janakpur lies here and Ayodhya there and there is talk of marriage. There was neither telephone nor mobile then how could he know about Janakpur,” Oli said.

Washington, May 6: At a time when the coronavirus pandemic has squeezed them, multi-national companies in America are laying off workers while paying cash dividends to their shareholders. Thus making the workers bear the brunt of the sacrifices while the shareholders continue to collect.

The Washington Post said in one of its reports that five big American companies have paid a combined USD 700 million to shareholders while cutting jobs, closing plants and leaving thousands of their workers filing for unemployment benefits.

Since the pandemic was declared an emergency, Caterpillar has suspended operations at two plants and a foundry, Levi Strauss has closed stores, and toolmaker Stanley Black & Decker has been planning layoffs and furloughs.

Steelcase, an office furniture manufacturer, and World Wrestling Entertainment have also shed employees.

Executives of those companies told the Post that the layoffs support the long-term health of their companies, and often the executives are giving up a piece of their salaries. Furloughed workers can apply for unemployment benefits.

But distributing millions of dollars to shareholders while leaving many workers without a paycheck is unfair, critics argue, and belies the repeated statements from executives about their concern for employees' welfare during the coronavirus crisis.

Caterpillar, for example, announced a USD 500 million distribution to shareholders April 8, about two weeks after indicating that operations at some plants would stop. The company however declined to divulge how many workers are affected.

"We are taking a variety of actions globally, but we aren't going to discuss the number of impacted people," spokeswoman of the company, Kate Kenny, said in a reply to an email by the Post.

This spate of dividends is also likely to revive long-standing debates about economic rewards.

"There are no hard-and-fast rules about this," said Amy Borrus, deputy director of the Council of Institutional Investors, a group that argues for shareholder rights and represents pension funds and other long-term investors.

Many large US companies choose to issue a regular, quarterly dividend to shareholders, often increasing it, and they boast about these payments because they help keep the share price higher than it might otherwise be. Those companies might be reluctant to announce that they are cutting or suspending their dividend during a crisis, Borrus was further quoted as saying.

But "companies have to be mindful of the optics of paying dividends if they're laying off thousands of workers," she added.

On March 26, Caterpillar had announced that because of the pandemic, it was "temporarily suspending operations at certain facilities." Two plants, in East Peoria, Ill., and Lafayette, Ind., were coming to a halt, as well as a foundry in Mapleton, Ill., according to news reports.

"We are taking a variety of actions at our global facilities to reduce production due to weaker customer demand, potential supply constraints and the spread of the covid-19 pandemic and related government actions," Kenny said via email.

"These actions include temporary facility shutdowns, indefinite or temporary layoffs," she added.

Similarly, Levi Strauss announced April 7 that the company would stop paying store workers, and about 4,000 are now on furlough. On the same day, the company announced that it was returning USD 32 million to shareholders.

"As this human and economic tragedy unfolds globally over the coming months, we are taking swift and decisive action that will ensure we remain a winner in our industry," Chip Bergh, president and chief executive of the company, also told the Post.

Stanley Black & Decker announced on April 2 that it was planning furloughs and layoffs because of the pandemic. Two weeks later, it issued a dividend to shareholders of about USD 106 million.

The notion that a company's primary purpose is to serve shareholders gained prominence in the 1980s but has come under attack in recent years, even from business executives, the newspaper reported.

Corporate decisions to suspend dividends and buybacks are complex, however, and it is difficult to know whether these suspensions of dividend and buyback programs were motivated by a desire to conserve cash in anticipation of bad times, and how much they are prompted by a sense of obligation to employees.

Over recent decades, the mandate to "maximize shareholder value" has become orthodoxy, for many, and it is often unclear what motivates companies to pare dividends or buybacks for shareholders, said William Lazonick, an emeritus economics professor at the University of Massachusetts at Lowell, who has been one of the leading critics of companies that distribute cash to shareholders through stock buybacks and dividends rather than reinvesting the profits into employees, innovation and production.