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Russia: U.S. investor Calvey released after being jailed for fraud.

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Source: Reuters

A Russian court released U.S. investor Michael Calvey on Thursday after two months in jail and placed him under house arrest, softening his treatment in a fraud case that has rattled the business community.

U.S. investor and founder of the Baring Vostok private equity group Michael Calvey, who was detained on suspicion of fraud, leaves the court after his hearing in Moscow, Russia April 11, 2019.

Calvey, founder of the Baring Vostok private equity group, was detained in February pending a trial on embezzlement charges that he denies and that he says are being used to pressure him in a corporate dispute over control of a Russian bank.

“Despite this corporate conflict that has led to criminal prosecution, I would like to underline what I have always said: I continue to believe in Russia’s investment potential,” Calvey said from a glass cage.

Dressed casually in jeans, the Wisconsin-born 51-year-old spoke to a packed courtroom in fluent, slightly accented Russian. He insisted that he posed no flight risk as it was a question of “honour” for him to restore a business reputation he made over almost 30 years working in Russia.

The court ruled to place him under house arrest until Saturday and investigators have called for the court at a hearing on Friday to extend the house arrest order until July 14.

Several prominent officials and businessmen had lobbied for the release of Calvey and other Baring Vostok executives detained with him, and had called their pre-trial incarceration unduly harsh.

Senior pro-business figures in Russia’s establishment say the case has had a chilling effect on the business climate that is already under pressure from Western sanctions, sluggish economic growth and rouble volatility.

In a gesture of support for the embattled equity group, Kirill Dmitriev, head of Russia’s RDIF sovereign wealth fund, told Reuters his organization plans to jointly invest with Baring Vostok in the next couple of months.

Dmitriev said he could not give further details, other than that the deal was in the technology sector and that the overall value of the joint investment would be under $100 million.

Prosecutors told the court they were happy for Calvey to be released from custody as he had three children, as well as property in Russia, and that several prominent businessmen had publicly vouched for him.

Baring Vostok, one of Russia’s oldest private equity groups, said it hoped that similar steps would also be made to release the fund’s other detained executives.

Baring Vostok partners Vagan Abgaryan and Philippe Delpal as well as investment director Ivan Zyuzin remain in detention.

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Northern Ireland: Police arrest two in connection with the murder of a journalist

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Source: Reuters

Two men have been arrested in connection with the killing of Northern Irish journalist Lyra McKee during a riot in Londonderry on Thursday, police said, as politicians in the divided British region united to condemn the attack.

McKee, an award-winning 29-year-old journalist who was writing a book on the disappearance of young people during decades of violence in Northern Ireland, was shot dead as she watched Irish nationalist youths attack police following a raid.

“Major Investigation Team detectives have arrested two men, aged 18 and 19 under the Terrorism Act, in connection with the murder,” the Police Service of Northern Ireland said in a statement.

Northern Ireland’s political parties, which are broadly split between Irish nationalists aspiring to unite the British region with Ireland and unionists who want it to remain British, united to condemn the attack.

In a joint statement, six parties said they were “united in rejecting those responsible for this heinous crime.”

Hundreds gathered in cities across Northern Ireland on Friday to hold vigils for McKee, who was also known as an activist for lesbian and gay rights.

Politicians around the world condemned the attack, with former U.S. President Bill Clinton saying he was “heartbroken.”

“We cannot let go of the last 21 years of hard-won peace and progress,” Clinton, a key player in the 1998 Good Friday Agreement peace accord, said on Twitter.

The 1998 deal largely ended three decades of violence in the region, in which over 3,600 died, but several smaller militant groups remain active and launch occasional attacks.

Police said they believed the shooting was likely carried out by the small New IRA group of “dissident” Irish nationalist militants opposed to the Good Friday deal. The group was blamed by police for planting a car bomb outside a courthouse in Londonderry in January.

Politicians in Northern Ireland have also warned that Britain’s plans to leave the European Union could also undermine the peace deal and that any return of restrictive infrastructure along the Irish-Northern Irish border would become targets for militants.

Michel Barnier, the European Union’s chief Brexit negotiator, said the peace accord had to be preserved.

“The tragic murder of Lyra McKee is a reminder of how fragile peace still is in Northern Ireland,” he said.“SENSELESS”

Police said Thursday’s rioting began after a raid aimed at preventing attacks during Easter weekend.

Saoradh, a political party with links to dissident militants, said in a statement on Friday that it understood McKee was killed accidentally by a “Republican volunteer.

McKee was watching with a crowd of bystanders as local youths attacked police with petrol bombs and set cars on fire, video footage showed. Police said McKee was hit when a gunman opened fire in the direction of police.

British Prime Minister Theresa May on Friday described the attack as “shocking and truly senseless.”

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Samsung gets reports of Galaxy Fold screen problems, raising specter of Note 7 fiasco

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Samsung Electronics Co Ltd said it has received “a few” reports of damage to the displays of samples of its upcoming foldable smartphone, raising the prospect of a less-then-smooth entry for the splashy $1,980 handset.

Source – Reuters

The Galaxy Fold, on sale from April 26 in the United States, resembles a conventional smartphone but opens like a book to reveal a second display the size of a small tablet at 7.3 inches (18.5 cm). The design, matched by Huawei Technologies Co Ltd’s Mate X, was hailed as the future in a field that has seen few surprises since Apple Inc’s iPhone in 2007.

Yet ahead of the launch, journalists supplied with review samples reported malfunctions after only a day or two of use.

“We will thoroughly inspect these units … to determine the cause of the matter,” Samsung said in a statement.

The malfunctions raised the specter of Samsung’s doomed Galaxy Note 7 phone three years ago. Battery and design flaws in the Note 7 resulted in some units catching fire or exploding, forcing Samsung to recall and cancel sales of the model.

The recall wiped out nearly all profit of Samsung’s mobile division in the third quarter of 2016.

Reporting by Angela Moon in NEW YORK and Ju-min Park in SEOUL; Additional reporting by Heekyong Yang in SEOUL, Editing by Leslie Adler and Christopher Cushing

With the Fold, analysts said malfunctions from the first batch of a test model were of little surprise. Moreover, the handset’s in-folding design is likely to be less durable than Huawei’s out-folding approach, they said.

“In-folding is more difficult to make than out-folding, as it adds higher pressure to screens, which people have worried about,” said analyst Park Sung-soon at BNK Securities.

DO NOT REMOVE

Technology journalists took to Twitter on Wednesday to report instances of the screen either cracking or flickering.

Bloomberg reporter Mark Gurman tweeted: “The screen on my Galaxy Fold review unit is completely broken and unusable just two days in. Hard to know if this is widespread or not.”

Gurman removed a plastic layer on the screen that was not meant to be removed and the phone malfunctioned afterwards, according to his tweets.

A wrapper around the device featured “ATTENTION” in uppercase and warned not remove the layer, showed a tweet from another sample recipient.

Samsung on Thursday said removing the protective layer might result in damage, and that it would clearly inform customers of the issue.

Dieter Bohn, executive editor of The Verge, said a “small bulge” appeared on the crease of the phone screen, which appeared to be something pressing from underneath the screen. Bohn said Samsung replaced his test phone but did not offer an explanation for the problem.

“It is very troubling,” Bohn told Reuters, adding that he did not remove the protective layer.

CNBC.com tech editor Steve Kovach tweeted a video of half of his phone’s screen flickering after using it for just a day.

HIGH DEMAND

Samsung has said it plans to make at least 1 million Fold handsets, versus the total 300 million phones it produces annually. It has closed Fold pre-orders due to “high demand”.

On Thursday, the firm told Reuters there was no change to its release schedule following the malfunction reports.

“I think as time goes on its yield rate will improve, and foldables that customers have in hand will be much better,” said analyst Lee Kyu-ha at NH Investment & Securities. “But I don’t know if Samsung can completely fix the problem about screens.”

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