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The leaders of North and South Korea will meet on April 27 for the first time since 2007, the two countries announced Thursday after high-level talks.The landmark meeting between President Moon Jae-in and Kim Jong Un will be held at Freedom House on the southern side of the Demilitarized Zone (DMZ), according to the joint statement issued after the talks.Officials from both sides will hold working-level talks on April 4 to prepare for the meeting and agree on security and media arrangements, it added.The summit will be seen as a victory for Moon, who has long been pushing hard for diplomatic relations with North Korea. He said at his swearing-in ceremony in 2017 "for peace on the Korean Peninsula, I will do everything that I can do."The last Inter-Korean summit was held in October 2007, when then President Roh Moo-hyun met Kim's father, Kim Jong Il.  875

The pilots of?Lion Air Flight 610 were engaged in a futile tug-of-war with the plane's automatic systems in the minutes before it plunged into the ocean, killing all 189 people on board.But investigators say they are at a loss to explain why the pilots didn't follow the same procedure performed by another flight crew the previous day when they encountered a similar issue.A preliminary report into the crash released Wednesday by Indonesia's National Transportation Safety Committee (NTSC) reveals more details about the final moments of Flight 610, but acknowledges many questions remain.Data retrieved from the flight recorder shows the pilots repeatedly fought to override an automatic safety system installed in the Boeing 737 MAX 8 plane, which pulled the plane's nose down more than two dozen times. 820

The principal of Marjory Stoneman Douglas High School, where 17 people were killed in a February 14 school shooting, said students who walk out today will be punished.Principal Ty Thompson told the students during yesterday's announcements that if they leave campus they will face disciplinary action. A teacher told CNN that the disciplinary action will be an unexcused absence.But that isn't stopping the students: Most of the teachers said they expect a good number of the students to walk out of the classrooms, but they aren't so sure how many will leave campus.However, the student body isn't exactly unified on this walkout. While many of the most vocal students are promoting the walkout, some other students feel conflicted since the walkout marks the Columbine shooting anniversary. Columbine leaders have pushed back against a walkout, asking students to treat the day as a day of service and not just a day to walk out.At Stoneman Douglas, some of the students are planning to do acts of service on campus instead of actually walking out.  1064

The jury in Bill Cosby's retrial found the TV icon guilty of all three counts of aggravated indecent assault on Thursday for drugging and sexually assaulting Andrea Constand at his home in a Philadelphia suburb in 2004.The 80-year-old comedian faces up to 10 years in prison on each count, but would likely serve them concurrently. A sentencing hearing has not yet been scheduled, and he remains out on bail.Cosby did not have an audible reaction to his conviction, but erupted shortly afterward. Minutes after the verdict, prosecutors asked the judge to revoke Cosby's bail because they say he is a flight risk and has a private plane.Cosby, who did not testify in the trial and has sat quietly throughout the proceedings, then stood up and yelled in a loud, booming voice: "He doesn't have a plane, you asshole."Judge Steven O'Neill ruled that Cosby should not leave his Pennsylvania home, and that he would need to be fitted with a GPS tracking device.What the case was aboutThe case against Cosby centered on testimony from Constand, a former employee with Temple University women's basketball team. She testified that Cosby, a powerful trustee at Temple, drugged her and sexually assaulted her when she visited his home to ask for career advice.Cosby's defense team argued that their interaction was consensual. Constand is a con artist, they argued, who wanted a piece of Cosby's fortune.After the trial concluded, Constand left through a side door in the courtroom, walking into a hallway with her arms around two women and a huge smile on her face.The case is the first celebrity sexual assault trial since the #MeToo movement began last fall, and as such, represents a test of how the cultural movement will translate into a courtroom arena.In closing arguments, defense attorney Kathleen Bliss positioned Cosby's legal team as standing up against "witch hunts, lynchings (and) McCarthyism."Attorney Gloria Allred, who represents many of the women who have accused Cosby of misconduct, said this was the happiest she had been with a verdict in 42 years."We are so happy that finally we can say, women are believed. And not only on #MeToo but in a court of law where they are under oath, where they testified truthfully, where they are attacked," Allred said. "After all is said and done, women were finally believed."Cosby's attorney, Tom Mesereau, said he plans to appeal "very strongly.""We are very disappointed by the verdict. We don't think Mr. Cosby's guilty of anything and the fight is not over," he said.The guilty verdict is a remarkable turn of events for the man once known as "America's Dad." Cosby was a groundbreaking actor and the first African-American performer to win an Emmy for his role on "I Spy." His portrayal of the sweater-loving Cliff Huxtable on "The Cosby Show" was one of the first mainstream TV shows to feature a black upper-middle class family.Previous trial ended in a hung juryAlthough dozens of women have accused Cosby of sexual misconduct, only Constand's allegations resulted in criminal charges."I feel like I'm dreaming," Lili Bernard, who has accused Cosby of assault, said afterward. "I feel like my faith in humanity is restored."The verdict came a year after Cosby's previous trial ended in a mistrial, as a different panel of jurors said they were deadlocked and could not unanimously agree on a verdict. This jury began deliberating Wednesday around 11 a.m., and worked for more than 14 hours over two days to reach the verdict.At the retrial, five other Cosby accusers testified as "prior bad acts" witnesses and said that Cosby had drugged and assaulted them decades ago. Prosecutors said these women's stories showed that Cosby had a pattern in his actions and did not make a one-time mistake in his interactions with Constand.The-CNN-Wire 3806

The interest rate on the 30-year fixed-rate mortgage remained near record lows in June and is likely to stay there in July.The 30-year fixed averaged 3.33% APR in the first four weeks of June, a smidgen lower than the 3.37% average APR in May and 3.36% in April. June’s rate average was the lowest in the four-year history of NerdWallet’s daily rate survey.A mission to reduce ratesMortgage rates were remarkably anchored from April through June after the Federal Reserve intervened to stabilize rates and push them down.But the Fed’s intervention hasn’t been entirely successful: Although mortgage rates have been remarkably stable, they’re stuck at a higher-than-expected level. To put it more bluntly, rates should be lower.Since March, the central bank has bought billions of dollars’ worth of Treasurys and mortgage bonds “to sustain smooth market functioning, thereby fostering effective transmission of monetary policy to broader financial conditions,” as the Fed explained in a June 10 statement.Dissecting that short passage:The Fed is saying that its goal is to push interest rates, including mortgage rates, lower. That’s what “transmission of monetary policy to broader financial conditions” means.It’s trying to accomplish that goal by buying Treasurys and mortgage bonds to calm and stabilize those markets. Stabilizing markets is a method, not the goal.? MORE: How mortgage rates are determinedFed failed to make a bigger splashThe Fed has succeeded in calming the waters. That’s why there were ripples, not waves, in fixed mortgage rates from April through June. But it has only partially succeeded in its goal to push interest rates lower. For the Fed to declare victory in “fostering effective transmission of monetary policy to broader financial conditions,” mortgage rates would have to fall another half a percentage point or so.With its intervention, the Fed decreased Treasury yields and mortgage rates. But the results are unequal: Since January, the 10-year Treasury yield has fallen a little over one percentage point, while the 30-year mortgage has fallen about half a percentage point. Normally, the two would fall roughly the same amount.Rates slow to sync with TreasurysWhy haven’t mortgage rates fallen further? You might guess that lenders are keeping rates elevated to offset the risk of mortgages going into default during the COVID-19 recession. But mortgage rates tend to fall during recessions.? MORE: What COVID-19 means for mortgage ratesMaybe mortgage servicers, the companies that collect monthly payments and work with past-due borrowers, want to be paid for the increased risk they bear, and it’s translating to higher rates. Maybe an undetected economic force keeps a floor on mortgage rates, preventing the 30-year fixed from falling below 3% and lingering there.A more plausible theory is that mortgage rates will follow historical patterns and shamble lower until they’ve fallen roughly the same as Treasury yields. That’s the conclusion that Bill Emmons, economist for the Federal Reserve Bank of St. Louis, makes in a paper titled “Why Haven’t Mortgage Rates Fallen Further?”Using history as a guide, Emmons writes, “we would expect a further decline in mortgage rates of perhaps 0.5 percentage points.” If he’s right, mortgage rates might drop in July.Don’t count on it, though. Not after these two months of stability; rates might continue to tread water.More From NerdWalletCompare current mortgage ratesHow much home can I afford?Buying or selling a home during the pandemicHolden Lewis is a writer at NerdWallet. Email: hlewis@nerdwallet.com. Twitter: @HoldenL. 3623