President Trump went ahead and raised the steel and aluminum tariffs on Canada and Mexico and European countries despite the fact that they are our allies. He alleges that they are acting as conduits for underpriced Chinese metals.
Meanwhile he granted a pardon to right-wing blogger Dinesh D’Souza who illegally funded a political campaign and was prosecuted by Prett Bharara, the NY US Attorney who Trump fired last year.Â
Earlier this year Trump pardoned Lewis Libby who had been an aide to VP Dick Cheney and Sheriff Joe Arpaio, who called Obama’s Hawaii birth certificate a fake. He also pardoned boxer Jack Johnson who was convicted for transporting a white woman across state lines, who died in jail in 1946.
The White House is also considering a pardon for Martha Stewart, the household-cookery writer, who was prosecuted by Trump’s nemesis for insider trading, James B. Comey. And he is also considering one for Democrat Rod Blagojevich,the former Illinois governor, for campaign funding violations. Both Ms Stewart and Mr Blagojevich are celebrities with links to The Apprentice, Mr Trump’s former TV vehicle. And Blagojevich makes it bipartisan.
Meanwhile complicated talks are going on with the North Korean dictator Kim Jong-un via his deputy. Does the president know how to tell friends from foes, whom to penalize and whom to pardon?
More today from Israel, Ireland, Sweden, India, Spain, Brazil, Finland, Britain, Switzerland, Equatorial Guinea, Sri Lanka, the Netherlands Antilles, India, and Canada. We have a stock sale and a withdrawn stock sale with a sell price target for our paid subscribers and also news about our funds. We cover two Investor Day’s for two companies.Â
Reports from Israel, Ireland
Delek Group reported on its Q1 Thursday and the Israeli conglomerate showed that it is a moving target, with assets and revenue streams acquired and divested vs prior Q1. Operating profits came in lower than in prior year, at NIS 328 million vs 346 million, but its net profit hit NIS 243 million in Q1 2018 vs NIS 220 in the prior first quarter. But the companies were not the same. Its sales were up 16% to NIS 1.8 billion from prior Q1’s 1.5 bbillion, boosted by its now owning and consolidating the entire Ithaca North Sea production company. It divested non-core oil and gas assets for NIS 1.8 billion.
Meanwhile it hived off Delek Energy royalties into a new potential spinoff in Tel Aviv called Delek Royalties, which raised NIS 426 million subject to approval by the authorities and the TASE. It also sold leased for offshore fields Tanin and Karish to Energean of Britain for initial royalties of $109 million. It also sold 9.25% of the Israeli offshore Tamar field under anti-trust rules. It also in April sold out its 15% stake in Faroe Energy to an unnamed “third party†for NIS 350 million (£70 million).
Delek also invested in a project in US Gulf waters with Texas Southern Energy and Gulfslope Energy which are developing 12 sites, 9 exploratory, and 7 of those deep-water. Delek is financing 90% of the exploration budget for this up to $50 million and will be paid off with 75% of the stock of the operator companies.
