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Ukraine summit sees hard road to peace as way forward uncertain

Published

3 months ago

June 17, 2024

By Dave Graham and Sabine Siebold

BUERGENSTOCK, Switzerland (Reuters) -Western powers and their allies at a summit in Switzerland denounced Russia’s invasion of Ukraine on Sunday, but they failed to persuade major non-aligned states to join their final statement, and no country came forward to host a sequel.

Over 90 countries attended the two-day talks at a Swiss Alpine resort at the behest of Ukrainian President Volodymyr Zelenskiy, billed as a “peace summit” even though Moscow was not invited.

Russia ridiculed the event from afar. A decision by China to stay away all but assured that the summit would fail to achieve Ukraine’s goal of persuading major countries from the “global South” to join in isolating Russia.

Brazil attended only as an “observer”. And in the end, India, Indonesia, Mexico, Saudi Arabia and South Africa all withheld their signatures from the summit communique, even though some contentious issues were omitted in the hope of drawing wider support.

Still, the conference provided Kyiv with a chance to showcase the support from Western allies that it says it needs to keep fighting against a far bigger enemy.

“We are responding to Russia’s full-scale invasion of Ukraine not only with a full-scale defense of human life, but also with full-scale diplomacy,” Zelenskiy said.

Leaders including U.S. Vice President Kamala Harris, German Chancellor Olaf Scholz and French President Emmanuel Macron gathered at the mountaintop resort of Buergenstock. U.S. President Joe Biden, in Europe for other events last week, did not attend despite public invitations from Zelenskiy.

The frontlines in Ukraine have barely moved since the end of 2022, despite tens of thousands of dead on both sides in relentless trench warfare, the bloodiest fighting in Europe since World War Two.

In her closing remarks, Swiss President Viola Amherd warned that the “road ahead is long and challenging”.

Russia, as it has for weeks, mocked the gathering.

“None of the participants in the ‘peace forum’ knows what he is doing there and what his role is,” said Dmitry Medvedev, Russia’s former president and now deputy chairman of the country’s Security Council.

‘THINGS CAN’T GO ON LIKE THIS’

After initial Ukrainian successes that saw Kyiv repel an assault on the capital and recapture territory in the war’s first year, a major Ukrainian counter-offensive using donated Western tanks fizzled last year. Russian forces still hold a fifth of Ukraine and are again advancing, albeit slowly. No peace talks have been held for more than two years.

“We know that peace in Ukraine will not be achieved in one step, it will be a journey,” European Commission Chief Ursula von der Leyen said, calling for “patience and determination”.

“It was not a peace negotiation because (Russia’s President Vladimir) Putin is not serious about ending the war, he’s insisting on capitulation, he’s insisting on ceding Ukrainian territory – even territory that today is not occupied.”

In the absence of a clear path to ending the war, Zelenskiy emphasised practical issues, such as nuclear safety and securing food supplies from Ukraine, one of the world’s biggest grain exporters.

The summit’s final declaration called for Ukraine’s control over the Zaporizhzhia nuclear plant and its Azov Sea ports to be restored. But in line with the conference’s more modest stated aims, it omitted tougher issues of what a post-war settlement for Ukraine might look like, whether Ukraine could join the NATO alliance or how troop withdrawals from both sides might work.

“The more allies that can be found to say ‘Things can’t go on like this’, ‘This is too much’, ‘That’s overstepping the mark’, that also increases the moral pressure on the Russian Federation,” said Austrian Chancellor Karl Nehammer.

As Sunday’s talks turned towards issues of food security and nuclear power, some leaders left early.

No country came forward to host another such meeting, with notable silence from Saudi Arabia, mooted as a possible future venue. Foreign Minister Prince Faisal bin Farhan Al Saud said the kingdom was ready to assist the peace process but a viable settlement would hinge on “difficult compromise.”

Since initial peace talks in the first months after the Feb. 2022 invasion, Ukraine has consistently demanded Russia withdraw from all its land, while Moscow has demanded recognition of its rule over territory its forces captured.

Last week, in remarks clearly aimed at the conference, Putin said Russia would not halt the war until Kyiv withdraws its forces fully from four provinces that Moscow only partially controls and claims to have annexed. Kyiv swiftly denounced that as a demand for surrender.

“Of course we…understand perfectly that a time will come when it will be necessary to talk to Russia,” Ukrainian Foreign Minister Dmytro Kuleba said. “But our position is very clear: We will not allow Russia to speak in the language of ultimatums like it is speaking now.”

Western leaders at the summit endorsed Kyiv’s refusal to negotiate under such terms.

“Confusing peace with subjugation would set a dangerous precedent for everyone,” said Italian Prime Minister Giorgia Meloni.

Stock Markets

Sean ‘Diddy’ Combs charged with sex trafficking, racketeering

Published

23 hours ago

September 18, 2024

By Luc Cohen and Jonathan Stempel

NEW YORK (Reuters) -Sean “Diddy” Combs used his fame as one of the biggest names in hip-hop to coerce women into engaging in demeaning sex acts as part of a long-running scheme of sex trafficking and racketeering, according to a three-count federal indictment unsealed on Tuesday.

Combs, 54, used the business empire he controlled, including his record label Bad Boy Entertainment, to transport women, as well as male sex workers, across state lines to take part in recorded sexual performances called “Freak Offs” in which the music mogul would watch and masturbate, prosecutors said.

The rapper and producer, arrested in Manhattan on Monday night, is expected to appear in court before U.S. Magistrate Judge Robyn Tarnofsky at 2:30 p.m. EDT (1830 GMT) on Tuesday.

Combs faces a mandatory minimum 15-year prison sentence and up to life behind bars if convicted of the three felony counts: racketeering conspiracy, sex trafficking and transportation to engage in prostitution.

The office of Manhattan U.S. Attorney Damian Williams, which brought the charges, said in a court filing that the stiff potential sentence could give Combs incentive to flee.

Prosecutors have asked Tarnofsky to order Combs to remain detained pending trial. Defense lawyers are asking to have him released on $50 million bond secured by his Miami home.

Prosecutors accused Combs of running a criminal enterprise to facilitate his exploitation of women, dating back at least 16 years.

According to the indictment, Combs enticed women by giving them drugs such as ketamine and ecstasy, financial support, or promises of career support or a romantic relationship. Combs then used surreptitious recordings of the sex acts as “collateral” to ensure that the women would remain silent, and sometimes displayed weapons to intimidate abuse victims and witnesses, prosecutors said.

“The victims did not believe they could refuse Combs without risking their security or facing more abuse,” Williams told a press conference. “This office is determined to investigate and prosecute anyone who engages in sex trafficking, no matter how powerful or wealthy or famous you may be.”

The indictment did not specify how many women were alleged victims. It contained no allegation that Combs himself directly engaged in unwanted sexual contact with women, though he was accused of assaulting them by punching, kicking, dragging and throwing objects.

Also known during his career as P. Diddy and Puff Daddy, Combs founded Bad Boy records and is credited with helping turn rappers and R&B singers such as Mary J. Blige, Faith Evans, Notorious B.I.G. and Usher into stars in the 1990s and 2000s.

‘NOT A CRIMINAL’

Marc Agnifilo, a lawyer for Combs, did not immediately respond to a request for comment on Tuesday. Agnifilo on Monday expressed disappointment with the “unjust” prosecution of his client, calling Combs “an imperfect person” but “not a criminal.”

Combs is the highest-profile music industry figure charged with sexual misconduct since R&B singer R. Kelly was sentenced to a combined 31 years in prison after being convicted in New York in 2021 and Chicago in 2022 sex trafficking, racketeering, child sex crimes and other counts.

His career and reputation have been marred over the past year. Last November, his former girlfriend Casandra Ventura, an R&B singer known as Cassie, accused him in a lawsuit of serial physical abuse, sexual slavery and rape. She agreed to an undisclosed settlement one day after suing. Combs denied her allegations.

New York Mayor Eric Adams asked Combs to return a commemorative “key to the city” after a video showing him attacking Cassie surfaced in May.

BABY OIL, AR-15 RIFLES

Prosecutors said Combs and his associates used bribery and violence such as arson and kidnapping to try to keep his conduct secret.

In a March 2016 incident that resembles Cassie’s description of his alleged attack, prosecutors said Combs was captured on a hotel security video striking and dragging a woman trying to leave a “Freak Off.” Combs then offered a stack of cash to a hotel security officer who intervened, prosecutors said.

In 2011, Combs and a co-conspirator kidnapped a person at gun point to facilitate a break in, prosecutors said. Two weeks later, Combs’ co-conspirators set a car on fire, and he later bragged about his role in the arson, prosecutors said.

Prosecutors said Combs’ employees helped arrange the “Freak Offs” by booking hotel rooms and buying controlled substances and other items used during sex, according to the indictment.

During raids of his homes in Los Angeles and Miami Beach, Florida six months ago, authorities found drugs and 1,000 bottles of baby oil and lubricant, along with AR-15 rifles with defaced serial numbers, the indictment said.

Stock Markets

Wysh Collaborates with Jack Henry to Enhance Financial Protection for Credit Union Members

Published

23 hours ago

September 18, 2024

Community and regional financial institutions can offer account holders embedded life insurance, increased financial security, and innovative deposit products

New York, New York–(Newsfile Corp. – September 17, 2024) – Wysh Life and Health Insurance Company, an AM Best A- rated insurance carrier offering innovative financial protection solutions, today announced that its embedded Life Benefit product is now accessible through the Jack Henry™ digital banking platform.

Wysh leveraged the Banno Digital Toolkit™, the same set of APIs the Banno Digital Platform™ is built on, to embed its technology into the digital experiences offered by community and regional financial institutions. Access to Jack Henry’s API, design, and authenticated frameworks has enabled Wysh to directly integrate Life Benefit into the digital banking platform, providing a seamless banking experience. This integration contributes to Jack Henry’s growing ecosystem of over 1,000 fintechs, providing approximately 7,500 financial institutions with relevant financial products and services for their account holders.

Life Benefit is a groundbreaking solution that embeds micro life insurance coverage equal to 10% of an account holder’s deposits, up to $10,000, providing protection directly to their account upon the holder’s death. With no opt-in, sign-up, or underwriting required, Life Benefit extends life insurance protection to demographics that have been historically overlooked due to pre-existing conditions or adverse financial histories. This innovative product helps banks and credit unions attract diverse, younger members, address net interest margin compression, and create new revenue streams through embedded affiliate programs.

“We’re thrilled to join Jack Henry’s fintech ecosystem and bring Life Benefit to more banks, credit unions and their members,” said Alex Matjanec, CEO of Wysh. “Our experience with the Banno Digital Toolkit has been excellent, allowing us to seamlessly integrate our solution into the digital banking platform. This collaboration will enable community and regional financial institutions to offer a truly innovative and inclusive financial protection product that aligns with their values while improving deposit economics.”

About Jack Henry™

Jack Henry™ (NASDAQ: JKHY) is a well-rounded financial technology company that strengthens connections between financial institutions and the people and businesses they serve. We are an company that prioritizes openness, collaboration, and user centricity – offering banks and credit unions a vibrant ecosystem of internally developed modern capabilities as well as the ability to integrate with leading fintechs. For more than 48 years, Jack Henry has provided technology solutions to enable clients to innovate faster, strategically differentiate, and successfully compete while serving the evolving needs of their account holders. We empower approximately 7,500 clients with people-inspired innovation, personal service, and insight-driven solutions that help reduce the barriers to financial health. Additional information is available at www.jackhenry.com.

About Wysh Life and Health Insurance Company

Wysh Life and Health Insurance Company is a wholly-owned subsidiary of Northwestern (NASDAQ:) Mutual. Wysh offers innovative embedded protection solutions, including Life Benefit, which helps financial institutions attract, retain, and differentiate deposits while providing valuable coverage to members. By integrating seamlessly with financial platforms, Wysh is revolutionizing the way financial institutions approach member protection and deposit growth. To learn more about Wysh, visit wysh.com or contact press@wysh.com.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/223633

Stock Markets

Fifth Third Community Development Corp. President Susan E. Thomas Named Co-Chair of National Housing Crisis Task Force

Published

23 hours ago

September 18, 2024

CINCINNATI–(BUSINESS WIRE)–A new bipartisan task force is tackling one of America’s most pressing problems “ the national housing crisis “ and is seeking to elevate the most innovative solutions from across the country to produce and preserve housing across all income levels in every part of the country.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240917284773/en/

Fifth Third Community Development Corporation President Susan E. Thomas (Photo: Business Wire)

This work will be led in part by Fifth Third Community Development Corporation President Susan E. Thomas, a national leader in community development banking and development. Of the four bipartisan National Housing Crisis Task Force co-chairs, Thomas is the only co-chair from the private sector.

The other co-chairs are Utah Governor Spencer Cox, Atlanta Mayor Andre Dickens, and Cleveland Mayor Justin M. Bibb.

The solutions are out there, but they are being deployed piecemeal, in individual communities, Thomas said. The task force will identify the best examples of innovative financing and land disposition tools, policies to streamline market-rate and subsidized-affordable housing development and help replicate them in communities across the country.

Thomas has seen firsthand the impact of innovation in housing through her work with Fifth Third’s Empowering Black Futures Neighborhood Program, which creates and implements innovative place-based strategies to effect positive change in nine historically disinvested neighborhoods across the Bank’s 11-state footprint.

Affordable housing is a cornerstone of Fifth Third’s Neighborhood Program, which is pioneering a new way to do community development by partnering with local organizations to build ecosystems that drive real change through both financial and social investments. This collective ecosystem approach is focused on identifying solutions to key challenges in partnership with the community, with the goal of creating lasting, transformative change.

At Fifth Third, we view safe, affordable housing as a basic human right, and helping to solve this crisis is one of our top priorities, said Kala Gibson, chief corporate responsibility officer for Fifth Third. As a regional bank, we are deeply embedded within the communities we serve, and we see firsthand every day how housing security is connected to economic mobility, financial stability, improved health outcomes and economic mobility.

Fifth Third’s Community Development Banking Group is actively helping to create housing inventory and remove barriers to affordability across the Bank’s footprint. This includes investing in low-income housing tax credits, new markets tax credits, community development financial institutions, and investment funds, as well as community-based lending for projects that create housing and provide other supportive services.

In 2023, Fifth Third provided $722 million in loans and investments to support 3,684 units of housing “ and we’re just getting started, Thomas said.

The National Housing Crisis Task Force is an ambitious, two-year project to bring the most promising innovations in housing production, preservation, and finance to communities across the country. Supported by the Nowak Metro Finance Lab at Drexel University and Accelerator for America (AFA), the bipartisan task force includes 28 government, non-profit, and business leaders who will create a platform to share and replicate what’s working locally, nationally and internationally. The task force’s work was launched Tuesday, July 23 at an in-person meeting in Washington, D.C. Its first report is expected this fall.

About Fifth Third

Fifth Third is a bank that’s as long on innovation as it is on history. Since 1858, we’ve been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it’s one that continues to expand as we explore the intersection of tech-driven innovation, dedicated people and focused community impact. Fifth Third is one of the few U.S.-based banks to have been named among Ethisphere’s World’s Most Ethical Companies ® for several years. With a commitment to taking care of our customers, employees, communities and shareholders, our goal is not only to be the nation’s highest performing regional bank, but to be the bank people most value and trust.

Fifth Third Bank, National Association is a federally chartered institution. Fifth Third Bancorp (NASDAQ:) is the indirect parent company of Fifth Third Bank and its common stock is traded on the NASDAQ ® Global Select Market under the symbol “FITB.” Investor information and press releases can be viewed at www.53.com. Deposit and credit products provided by Fifth Third Bank, National Association. Member FDIC.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240917284773/en/

Amanda Nageleisen (Media Relations)
amanda.nageleisen@53.com

Matt Curoe (Investor Relations)
matt.curoe@53.com | 513-534-2345

Source: Fifth Third