Facebook data row: Zuckerberg to appear for Senate testimony on April 10

Facebook Inc. Chief Executive Officer Mark Zuckerberg will appear before a joint hearing of the Senate Judiciary and Commerce Committees next Tuesday, the chairmen of those panels said on Wednesday night.

“Our joint hearing will be a public conversation with the CEO of this powerful and influential company about his vision for addressing problems that have generated significant concern about Facebook’s role in our democracy, bad actors using the platform, and user privacy,” the Commerce Committee chairman, Senator John Thune of South Dakota, said in a statement.

Zuckerberg had already agreed to appear before the House Energy and Commerce Committee on Wednesday, April 11, the chairman and top Democrat on that committee announced Wednesday.

What to make of US Fed chairman Jerome Powell's hawkish testimony

Jerome H Powell, the newly minted Chairman of the US Federal Reserve (US Fed) came out as a clear hawk in his first testimony before the Congress on Tuesday.
Powell said that his expectations for domestic economic growth have increased since the beginning of the year, citing the passage of the $1.5 trillion tax cut, lifting of the debt ceiling and stronger global growth.
Our take on his testimony:
1. Clearly hawkish
His talons became visible when he answered a Democrat’s question as to what would cause the US Fed to hike more than three times that the central bank’s guidance currently calls for?
Powell said that each of the Federal Open Market Committee (FOMC) member would take the developments since the December meeting into account and write down ‘new rate paths as we go into the March meeting, and I wouldn’t want to prejudge that.’
2. Personal views take front seat
When the Fed Chair testifies, he speaks for the Federal Reserve, not for himself. But, Powell gave his personal views many times. This is a big break from the past like Janet Yellen, Ben Bernanke or Alan Greenspan.

China reveals new leadership line-up as Xi Jingping cements power

China’s ruling Communist Party reveals its new leadership line-up on Wednesday when President Xi Jinping introduces his Politburo Standing Committee, culminating a week-long party congress.

A key measure of Xi’s rising influence leading the world’s second-largest economy will be how many of his allies are installed on the Standing Committee, the apex of power in China. It is currently made up of seven people, all men, and headed by Xi, who is also party and military chief.

Five members are expected to retire due to an unwritten rule limiting new five-year terms to those under 68.

One of the five, a close Xi ally, the anti-corruption chief Wang Qishan, 69, was left off the new Central Committee, which elects the Standing Committee, but he could get another job a few months down the line, sources have said.

The new line-up will be announced around midday (0400 GMT) at the first plenum of the congress. The congress itself formally ended on Tuesday, with Xi having his political theory written into the party’s constitution, putting him in the same company as the founder of modern China, Mao Zedong.

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IOC suspends Rio 2016 chief Nuzman following on corruption charges

The International Olympic Committee (IOC) has suspended 2016 Rio Games chief Carlos Nuzman following his arrest on corruption charges.

Nuzman, who has denied any wrongdoing, is accused by Brazil's federal police of bribing IOC members to support Rio de Janeiro's candidacy to host the Games, reports Xinhua news agency.
The 75-year-old, who represented Brazil in volleyball at the 1964 Tokyo Olympics, has also been removed from a commission to help organise the 2020 Tokyo Olympics.

In a statement, the IOC said the Brazilian Olympic Committee was also suspended due to its responsibility for Rio's bid. The decision means subsidies and payments to the body from the IOC have been blocked.

The IOC added that the bans would not extend to Brazilian athletes.

"The IOC will accept a Brazilian Olympic Team in the Olympic Winter Games Pyeongchang 2018 and in all other competitions under the umbrella of the Brazilian Olympic Committee with all rights and obligations," the statement read.
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Pakistan anti-graft court indicts ex-PM Ashraf, 8 others in hiring scam

An accountability court in Pakistan on Tuesday indicted former Prime Minister Raja Pervaiz Ashraf and eight others in a case related to illegal recruitment in the Gujranwala Electric Power Company (Gepco).

According to the National Accountability Bureau, Ashraf recruited as many as 437 people without taking merit into consideration.

The court has summoned witnesses to record their statements. Ashraf while speaking to the media rejected all charges filed by the NAB, Geo TV reported.

Along with the Gepco scam, Ashraf was already indicted by another accountability court in Islamabad in the rental power case. All accused, including the former federal mister for water and power, pleaded not guilty.

Ashraf is accused of misusing his authority during his tenure as minister to get approval from the Economic Coordination Committee for an increase in the down payment to the rental power companies from 7 per cent to 14 per cent, amounting to about Rs 22 billion.
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