Olympics could be big failure amid crisis: Rio Governor

Olympics could be big failure amid crisis: Rio Governor

Rio de Janeiro's interim Governor Francisco Dornelles has admitted the upcoming Olympic Games could be a "big failure" if there were no appropriate measures taken in regards to security and transport.

Dornelles declared an unprecedented "state of public calamity in financial administration" earlier this month with less than 50 days until the opening ceremony, which could threaten "the fulfilment of the obligations as a result of the Olympic and Paralympic Games Rio 2016", Xinhua news agency reported.

Brazil's federal government has already reportedly agreed to disburse federal funds to cover Rio's shortfall, prioritising any projects considered necessary for the Games.

However according to Dornelles, the funds have not yet reached the state.

Dornelles also warned that due to lack of money, the police patrols may came to a halt by the end of the week.

"I am optimistic about the Games, but we have to show the reality," he said in an interview on Monday with state-media media Globo. "We can make a great Rio Olympics, but if some steps are not taken, it can be a big failure."

"We have to give proof that we are equipping security and the mobility for people to come to the country."

Dornelles' remarks are in sharp contrast with other higher-level Brazilian officials who always repeat that the games would be unaffected by the various political and economic problems ravaging the host nation.

The games are slated to start on August 5.

Trump targets to raise $10 million

Trump targets to raise $10 million

The campaign of Donald Trump, presumptive presidential nominee of the Republican party, has set a target of raising another $10 million by the month end, according to an email sent on Monday.

Over the last few days, the Trump campaign raised $11 million, it said adding it is working to "shatter records" by raising another $10 million in the remaining four days of June.

The mass email seeking funds was sent by his son Eric Trump, who described it as the most ambitious fund raising campaign yet.

"Hillary Clinton's campaign machine and her liberal media allies are desperate. First, they claimed we raised too little. Then, when donors like you helped us to raise $11 million in just a few days, they claimed we were lying," the junior Trump wrote in his first fund raising email.

A real estate tycoon from New York, Donald Trump had self-funded his campaign during the primary elections. He started raising money for the general election in May.

In May, Clinton out-raised him. However, Trump argues that he started fund raising only in the last few days of May.

The Trump campaign says its fund raising activities have gained pace this month.

"The truth is we did better than $11 million and no amount of spin from Crooked Hillary's machine can change that fact. We cannot let them get away with this," Eric Trump said.

"That's why we set another Trump-sized goal. We are working to shatter records again this week — by raising another $10 million before the Federal Election Commission's 2nd quarter fund raising deadline this Thursday at midnight. Afterwards, our results will be covered heavily by the media," he wrote. Read More

Chile manager Pizzi labels Messi as 'the best player of all time'

Chile manager Pizzi labels Messi as 'the best player of all time'

Soon after guiding Chile to their second straight Copa America Centenario title, manager Juan Antonio Pizzi has lavished praise on Argentina star striker Lionel Messi and described him as the 'best player of all time'.

Pizzi's announcement came right around the same time when Messi was announcing his retirement from international football following his country's 2-4 defeat at the hands of Chile in Copa America.

Although Messi missed his crucial penalty kick in the final match, Pizzi's opinion about his fellow countryman remains the same.

Admitting that he admires Messi, Pizzi believes it is very difficult to match the numbers that the Barcelona striker achieved during his career.

"Because I know what it means to value certain numbers and Messi's numbers are unmatched, and I don't think they will ever be matched because it's impossible for a player to find the things that Messi finds," Pizzi was quoted as saying by Goal.com.

The Chile coach also praised his side's successful defense of the Copa America title and said that his players helped them to become a strong national team, which can compete even with the best.

After both sides failed to score goal in regulation time and extra time, Chile and Argentina were taken to penalties to decide the winner.

Messi, who was making his 112th appearance for the national side, missed his spot-kick in the dramatic penalty shootout as Argentina lost their fourth major final in nine years.

Before two successive Copa America final defeats by Chile, Argentina were beaten 1-0 in the 2014 World Cup final by Germany. Messi's side had also suffered defeat against Brazil in the 2007 Copa America final. Read More

Brexit impact: 10 things to know about the political storm in UK

Brexit impact: 10 things to know about the political storm in UK

Even as Britain is coming to terms with its electorate’s vote to exit the European Union(EU), political turmoil in the UK has escalated too.

While the European Union has asked UK to initiate the exit process swiftly, Scotland could throw a spanner in the works as it had voted to ‘remain’ in the EU. Meanwhile, the Labour Party is facing a revolt from its senior leaders, even as uncertainty prevails over Prime Minister David Cameron’s successor. Cameron quit the day the results of the Brexit referendumcame in, leaving it to his successor to deal with what will likely be a messy exit.

Here are 10 things to know about the political crisis that has hit the UK.

Scotland's threat

Scotland is said to be considering a referendum to be independent from UK if Britain actually manages to exit the EU. The move is said to be under consideration after the nation voted to ‘remain’ in the EU. Scottish First Minister, Nicola Sturgeon has also threatened to block Brexit, stating that the decision will need the consent of Scotland’s semi-autonomous Parliament.

Filling the void

British Prime Minister David Cameron announced on Friday that he will step down from the office in three months and that a new leader will take over by October. The Conservative Party has been in a huddle, scouting for a replacement to the PM soon, amid uncertainty over next plan of action for the country. Some reports indicate ex-mayor Boris Johnson, who favoured the ‘Leave’ campaign, could be his successor. Read More

VW emissions scandal: South Korea issues arrest warrant against company executive

VW emissions scandal: South Korea issues arrest warrant against company executive

A South Korean court on Friday issued the first warrant for the arrest of a Volkswagen AG executive in connection with its cheating of vehicle emissions tests, in another blow to the German automaker's efforts to move on from the scandal.

The warrant is the first to be levelled against a Volkswagen executive anywhere in the world after the firm in September admitted to using software to falsify pollution tests on some diesel cars, spurring legal action in the United States, Germany, South Korea and elsewhere.

"This is just the beginning of the investigation," an official at the prosecution office said, declining to be named because the investigation was ongoing.

The Volkswagen Korea executive, identified by his last name Yun, faced five accusations including fabrication of documents and violation of the Air Quality Preservation Law, Seoul Central District Court spokesman Shin Jae-hwan said.

"The court acknowledges the reason and the necessity of the arrest," he told Reuters, declining to give further details or name the executive.

A Volkswagen Korea spokeswoman declined to comment.

South Korea has taken a particularly hard line against the automaker, filing a criminal complaint against two other executives, fining it 14.1 billion won ($11.97 million) and ordering it to recall 125,522 vehicles.

About 4,400 Korean consumers also have filed a class action lawsuit against Volkswagen and sister marque Audi demanding compensation over the false emissions claims.

Sources in the United States on Thursday said Volkswagen would pay more than $10 billion to settle claims by nearly 500,000 owners and fund efforts to offset pollution.

The South Korean arrest warrant comes after German prosecutors on Monday said they were investigating former Volkswagen CEO Martin Winterkorn and another executive over whether they effectively manipulated markets by delaying the release of information about the test cheating.

South Korean prosecutors would cooperate with their counterparts in Germany and the United States, the official said in Seoul.

The scandal has triggered a slide in Volkswagen's share of Asia's No.2 diesel car market, where it competes with dominant domestic players Hyundai Motor and Kia Motors.

Volkswagen said in April it would set aside 16.2 billion euros ($18.2 billion) and slash its dividend to cover the costs from the scandal. Read More

Twitter selling ad spots linked to NFL for over $50 million

Twitter selling ad spots linked to NFL for over $50 million

Micro-blogging website Twitter is planning to sell the ad packages linked to US National Football League (NFL) games streaming — which it purchased for $10 million back in April — for nearly $50 million, a media report said on Thursday.

Twitter paid for the right to stream 10 of the NFL Thursday night games and Twitter CEO Jack Dorsey had hinted that this deal would help the company earn better traffic, tehnology website Re/Code reported.

Dorsey and COO Adam Bain were in France at the annual Cannes Lions ad festival this week, working to drum up business.

“These ads packages, which combine the ad inventory Twitter has around NFL, highlights that it also sold last year, plus the NFL game footage it bought this year, are selling between $2 million and $8 million per advertiser,” the report quoted a source as saying.

That range depends on the number of ads and whether or not they are shown during a game versus alongside other NFL content, the report said.

“Twitter wants to sell 10 to 15 of these packages. Twitter has already sold about 60% of this ad inventory,” Matt Derella, who runs North American sales for Twitter and is in charge of selling the NFL packages, was quoted as saying.

Twitter would get the same NBC or CBS game feed that people can watch on TV but it is still not clear how it will add a social component to the broadcast.

“We are going to marry the best of Twitter (with the NFL stream). So that would be that live experience as it is happening and that live conversation around Twitter. One flavor would be all the most authoritative analysts and players actually tweeting about the game… so that could be manually or algorithmically curated,” Derella added.

“Other users might just want the pure roar of the crowd and the unfiltered timeline. We are going to experiment with what is best,” he added. Click Here

Trump has no answers on substance of facts against him, says Hillary Clinton

Trump has no answers on substance of facts against him, says Hillary Clinton

Presumptive presidential Democratic nominee Hillary Clinton has alleged that her Republican rival Donald Trump launched a personal attack against her because he has no answers on the substance of the facts against him.

"Look, I know Donald Trump hates it when anyone points out how hollow his sales pitch really is," Clinton told her supporters at an election rally in this key city of North Carolina, hours after Trump called her a "world class liar".

"I guess my speech yesterday must have gotten under his skin because right away he lashed out on Twitter with outlandish lies and conspiracy theories, and he did the same in his speech today," she said.

"Now think about it. He's going after me personally because he has no answers on the substance. In fact, he doubled down on being the 'King of Debt'. So all he can do is try to distract us. That's even why he's attacking my faith," she said as a day earlier, Trump had questioned her religion.

"Of course attacking a philanthropic foundation that saves and improves lives around the world," she said referring to Trump's allegations against the Clinton Foundation.

"It's no surprise he doesn't understand these things. The Clinton Foundation helps poor people around the world get access to life-saving AIDS medicine. Donald Trump uses poor people around the world to produce his line of suits and ties," she alleged.

"We can't let Donald Trump bankrupt America the way he bankrupted his casinos. We need to write a new chapter in the American Dream - and it can't be Chapter 11," she said.

"Economists left, right, and center all agree Donald Trump will drive America back into recession. Just this week, one of Senator John McCain's former economic advisors said Trump's policies would wipe out, wipe out three-and-a-half million jobs. His tax cuts tilted toward the wealthy would add more than $30 trillion to our national debt over the next 20 years," she said.

"That is just astonishing and it's no wonder that the Economist Intelligence Unit, one of the leading firms that analyses the top threats to the global economy, now ranks a Trump Presidency at 3, right behind problems in China and volatility in the commodities markets," said the former Secretary of State.

Clinton alleged Trump has no real ideas for making college more affordable or addressing the student debt crisis.

"He has no credible plan for rebuilding our infrastructure, apart from his wall. He has no real strategy for creating jobs, just a string of empty promises," she said.

"Maybe we shouldn't expect better from someone whose most famous words are, 'You're fired'. Well, here's what I want you to know: I do have a jobs program. And as president, I'm going to make sure you hear, 'You're hired'," Clinton said. Read More

Brexit: EU referendum voting gets undeway in UK

Brexit: EU referendum voting gets undeway in UK

Polling stations across the United Kingdom opened on Thursday morning to decide the historic referendum on whether the country should remain a member of theEuropean Union or leave the politico-economic union of 28 member states.

The voting will take place between 7 a.m. and 10 p.m. local time.

The national referendum is the third in UK history and comes four months after battle for votes between the 'Leave' and 'Remain' campaigns.

Prime Minister David Cameron criss-crossed the country in a final effort to warn Britain's voters against rejecting the EU in the historic poll yesterday.

This decision will also read as a referendum on his premiership.

Last night, he was joined by former prime ministers Gordon Brown and Sir John Major, the Liberal Democrat leader, Tim Farron, and the Green MP Caroline Lucas, at events in Bristol and Birmingham, reports the Guardian.

The prime minister has been pressing the message that today's decision will be irreversible and there will no coming back if the UK votes to leave the EU. Read More

Hedge fund and PE firm to buy Dell's software unit

Hedge fund and PE firm to buy Dell's software unit

For more than a decade, the hedge fund Elliott Management has focused on shaking up technology businesses with activist shareholder campaigns, urging companies to sell themselves.

Now the hedge fund has taken a big step into the business of buying companies outright.

Elliott and the private equity firm Francisco Partners said on Monday that they would buy Dell's software businesses. A price was not disclosed, though it is estimated to be more than $2 billion. The two are getting a mix of software makers that Dellacquired over the years, including the security provider SonicWall and the information technology manager Quest Software. Dell had looked to sell the businesses in part to help raise cash to support its debt-heavy takeover of EMC Software, which faces a vote by EMC shareholders next month.

Elliott has dabbled in private equity before, but in small ways. The hedge fund has offered to buy companies like Novell during activist campaigns, though largely as a tactic to try to prod those businesses into putting themselves up for sale. (The activist investor Carl C Icahn is a fan of the move.) And it has rolled over its stakes in other companies, including BMC and Blue Coat, when other financiers have bought control.

But Elliott's head of United States equity activism, Jesse Cohn, has quietly built a team to focus on being more active in buying companies or lending them money. In short, it is functioning like a true private equity business.

That has included hiring Isaac Kim, an executive at the private equity firm Golden Gate Capital, to lead that team, named Evergreen Coast Capital because it has a friendlier name without Elliott's baggage of shareholder activism. Read More

US opens up skies for commercial drone operators

US opens up skies for commercial drone operators

The Federal Aviation Administration has unveiled long-awaited new rules that clear the way for small, commercial drones to operate across US airspace – but don't expect an aerial delivery from Amazon just yet.

Under the FAA's rules, drone operators will be allowed to fly commercial craft weighing less than 25 kilograms during daylight hours, provided they can maintain a clear view of the drone at all times.

While that effectively precludes the sort of robo-delivery services being developed by Amazon and other major vendors, the new rules will nonetheless ensure drones become increasingly commonplace in the skies.

Drone operators no longer need a full pilot's license. Now, they must only be 16 years old, vetted by the Transportation Security Administration and able to pass an FAA test for a two-year certification.

Previously, commercial drone users had to apply for waivers to operate their craft, and authorities had approved thousands of these on a case-by-case basis.

The White House cites industry estimates suggesting drones could generate more than $82 billion for the US economy over the coming decade, creating some 100,000 new jobs.

White House spokesman Josh Earnest said the Obama administration would work closely with private businesses to continue streamlining regulations.

"The president has made clear that the future success of our economy will depend on our ability to continue to innovate," Earnest told reporters. Read More

Donald Trump questions Hillary Clinton's commitment to her Christian faith

Donald Trump questions Hillary Clinton's commitment to her Christian faith

Presumptive Republican presidential nominee Donald Trump has questioned his Democratic rival Hillary Clinton's commitment to her Christian faith, saying that little is known about her spiritual life even though she has been in the public eye for decades.

"We don't know anything about Hillary in terms of religion," Trump told a group of evangelical leaders.

A video of the meeting was posted on social media.

"Now, she's been in the public eye for years and years, and yet there's no - there's nothing out there," he said.

"There's like nothing out there. It's going to be an extension of Obama but it's going to be worse, because with Obama you had your guard up. With Hillary you don't, and it's going to be worse," 70-year-old Trump said.

In response to Trump's remarks, the Clinton campaign released a statement by evangelical leader Deborah Fikes, who has served as an Executive Advisor to the World Evangelical Association.

"Hillary Clinton is the leader who people of faith are looking for," Fikes said.

"There is a troubling trend underway in America today. Donald Trump - a major party's presumptive presidential nominee - has used even more disturbing language to mock women, Latinos, and people with disabilities," said Fikes.

"He has repeatedly called for a ban on Muslims entering our country. And he has promised to surveil Muslim neighbourhoods in cities and suburbs across the United States.

As an evangelical Christian Faith, it troubles me deeply to see abuse of the vulnerable and intolerance toward religious minorities on the rise," he said. Read More

Walmart rips up China online strategy, starts again with stake in Alibaba rival

Walmart rips up China online strategy, starts again with stake in Alibaba rival

Walmart Stores Inc has sold its Chinese online grocery store in return for a stake in the country's no. 2 e-commerce firm, ripping up its previous strategy in efforts to cure ailing sales in one of the world's toughest retail markets.

The deal will see the US grocery giant swap its Yihaodian platform for a 5% stake in Inc, worth about $1.5 billion by the firm's latest market value. The move also gives Walmart a ringside seat in bitter rivalry with Chinese e-commerce leader Alibaba Group Holding Ltd.

The sell-off, announced on Monday, is a significant shift for Walmart in China, where it operates more than 400 bricks-and-mortar stores. The firm has been shuttering underperforming outlets and grappling with soft online sales in the world's second-biggest economy since it bought full control of Yihaodian in July last year, saying the site would play a leading role in its China strategy.

"The reality is that e-commerce is hyper-competitive in China and it is tough for any platform to make money," said Ben Cavender, Shanghai-based principal of China Market Research Group. "Selling up in return for a 5% stake in is a good way of staying in the space while reducing the risk."

The deal echoes a strategy adopted by other international retailers and consumer goods makers - selling a local unit for a stake in a Chinese partner in order to prosper in a cut-throat marketplace. France's Danone SA sold its Dumex brand last year to raise its stake in local dairy giant China Mengniu Dairy Co Ltd.

Walmart 's tie-up gives it access to nationwide logistics and warehousing networks, as well as its over 150 million users - helping expand the US firm's reach with China's increasingly tech-savvy middle class.

For the deal could provide a boost in its intensifying competition in the fast-growing online grocery business with Alibaba - a market set to boom to nearly $180 billion by 2020 from $41 billion last year, according to data from food research body IGD. Read More

Facebook investors OK new share class to keep Mark Zuckerberg at helm

Facebook investors OK new share class to keep Mark Zuckerberg at helm

Facebook Inc shareholders approved a proposal to create a new class of non-voting shares, a move aimed at letting Chief Executive Officer Mark Zuckerberg give away his wealth without relinquishing control of the social media company he founded.

The company's plan to issue two "Class C" shares for each Class A and Class B share held by shareholders, in what is effectively a 3-for-1 stock split, was approved by Facebookshareholders at the company's annual general meeting on Monday.

The Class C shares will be publicly traded under a new symbol.

Zuckerberg said in December that he intended to put 99% of his Facebook shares into a new philanthropy project focussing on human potential and equality.

The creation of the Class C shares would allow Zuckerberg to sell the non-voting stock, but keep the voting Class A and Class B shares that would let him retain control of Facebook.

Zuckerberg plans on running Facebook "for a very long time", the 32 year-old CEO told shareholders at a Q&A session at the AGM.

Shareholders also approved the continued tenure of all the eight board members, including billionaire investor Peter Thiel, who were up for re-election.

Facebook announced the plan to create the new class of non-voting shares on April 27. The approval of the plan was virtually certain since Zuckerberg controls the company. Read More

19-year-old British man Michael Sandford charged for attempting to kill Donald Trump

19-year-old British man Michael Sandford charged for attempting to kill Donald Trump

A 19-year-old Britsh man has been charged for trying to grab a police officer's gun at aDonald Trump rally in Las Vegas in a bid to kill the presumptive Republican presidential nominee.

According to a complaint filed in federal court in Nevada,Michael Sandford tried to disarm the officer at Saturday's rally at the Mystere Theatre in the Treasure Island Casino before being overpowered.

It said the young man told a Secret Service agent after hisarrest that he had driven from California to Las Vegas "to kill Trump," and had been to a range a day earlier to learn to shoot as he had never fired a gun before.

"Sandford acknowledged that he would likely only be able to fire one to two rounds and stated he was convinced he would be killed by law enforcement during his attempt on Trump's life," the complaint said.

It added that Sandford told investigators he had purchased tickets for a rally in Phoenix, where he "would try again to kill Trump" in the event his plan in Las Vegas failed.

Video of his arrest carried by US media show a skinny man with short brown hair and a grey T-shirt being escorted out of the rally by police officers with his hands behind his back.

The prosecutor's office said Sandford was ordered held without bond, as he was considered dangerous and represented a flight risk.

Britain's Foreign Office is "providing assistance" in the case, a spokesman said. Read More

Australian PM Turnbull promises gay marriage referendum if re-elected

Australian PM Turnbull promises gay marriage referendum if re-elected

Australian Prime Minister Malcolm Turnbull on Monday promised a referendum on legalisation of same-sex marriages before the year ends, if he is re-elected.

"Of course, if we are successful on July 2, then I have every expectation that the parliament will swiftly legislate for a plebiscite and a plebiscite will be held shortly after parliament resumes, which I would assume to be in August," Turnbull said during an event in Sydney.

"So I would hope that the plebiscite could be held before the end of the year," said Turnbull.

Opposition Labour Party leader Bill Shorten asked Turnbull to legalise same-sex marriage immediately instead of calling a referendum, which he said, will become a "platform for homophobia".

"I intend to win the election. I intend to put forward legislation in the first 100 days," Shorten said.

Australia, which accepts civil marriage in several of its states, has been criticised for failing to legalise same-sex marriages.

In December 2013, the High Court overturned a law allowing gay marriages in the Australian Capital Territory on grounds that it contravened the Federal Marriage Law of 1961.

Similar legislative proposals have also failed in the states of Tasmania and New South Wales.Read More

America is the only superpower, says Russian President Vladimir Putin

America is the only superpower, says Russian President Vladimir Putin

Accepting the United States is probably the world's sole superpower, Russian President Vladimir Putin has said that Moscow was ready to work with Washington.

Speaking at the St Petersburg International Economic Forum on Friday, Putin said: "America is a great power. Today, probably, the only superpower. We accept that."

"We want to and are ready to work with the United States," Putin added.

Hinting to the US-EU sanctions on Russia in response to its military actions in Ukraine, Putin said: "The world needs such strong nations, like the US. And we need them. But we don't need them constantly getting mixed up in our affairs, instructing us how to live, preventing Europe from building a relationship with us."

When asked about presumptive Republican nominee Donald Trump, Putin called him as a "flamboyant" or "colorful" man.

Putin also spoke about the presumptive Democratic nominee, Hillary Clinton, saying he did not work much with her directly when she was the Secretary of State.

"She probably has her own view of US-Russian relations," he said.

The Russian President, however, praised her husband and former US president Bill Clinton.

"We had a very nice relationship," the Guardian quoted Putin as saying.

Fires rage across western United States

Fires rage across western United States

Firefighters have struggled to contain infernos across the western United Statesas experts warned that drought-striken California should prepare for an unusually intense wildfire season.

Forest fires are a fact of life in much of California but have become far worse because of bone-dry conditions, with the Golden State gripped in its fifth year of drought.

A fire in the Los Padres National Forest had expanded to two square miles (five square kilometers) yesterday, making it the "largest since 2009" in the area, a spokesman for the Santa Barbara County Information Center told AFP.

Strong winds were hampering efforts to contain the blaze, and the operation was expected to be hindered further by near-record temperatures over the weekend in the southern half of California.

Los Padres, which begins about two hours drive northwest of downtown Los Angeles, is popular with hikers and campers, and evacuation orders were issued in at-risk parts of the forest.

Sections of Highway 101, which links northern and southern California, were temporarily closed while oil giant ExxonMobil evacuated its refinery in Las Flores Canyon.

Another fire further north burned about four square miles and caused road closures, also threatening buildings, although there were no reports of injuries.

Lynne Tolmachoff, a spokeswoman for public information organisation Calfire, said America's most populous state could see its worst fire season on record this year.

Meanwhile, a blaze in Warren Creek, in the northwestern state of Alaska, was raging across eight square miles of a Native American reserve, while four fires were burning up more than 40 square miles in Arizona and New Mexico. Read More