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North Korean leader Kim Jong Un will shut down his nuclear test site in May and invite experts and journalists from South Korea and the United States into the country to ensure "transparency" around its closure, South Korea's presidential office said Sunday.It is the latest breakthrough on the peninsula ahead of a meeting between Kim and US President Donald Trump, who said Saturday that talks could take place within "three to four weeks."A senior spokesman for South Korean President Moon Jae-in said Kim made the comments during a landmark summit Friday at the demilitarized zone between the two countries, when Kim became the first North Korean leader to step into South Korean territory since fighting ended in the Korean War in 1953.Kim told Moon during the summit that he had no intention of targeting the US or the South with nuclear weapons, the South Korean President's office said Sunday."The United States, though inherently hostile to North Korea, will get to know once our talk begins that I am not the kind of person who will use nuclear weapons against the South or the United States across the Pacific," Kim was quoted as saying by Moon's spokesman Yoon Young-chan on Sunday."There is no reason for us to possess nuclear weapons ... if mutual trust with the United States is built through frequent meetings from now on, and an end to the war and non-aggression are promised."Friday's pageantry and face-to-face talks -- the first between leaders of the two Koreas since 2007 -- culminated in Kim and Moon issuing a joint statement committing to the "complete denuclearization" of the peninsula, calling for the end of the Korean War, and heralding a "new era of peace."Kim had previously announced the conclusion of North Korea's nuclear testing program and the shuttering of the Punggye-ri complex, saying on April 20 that it had already "completed its mission."In the comments released by Moon's office on Sunday, Kim also refuted claims by Chinese scientists earlier in the week that parts of the site had been so badly damaged by previous explosions that it may now be unusable."Some claim we are closing down an unusable test site, but if they come and see, they will understand that there are two bigger tunnels than the existing test facilities and that they are in a very good condition," Kim said, according to Yoon.President Moon "immediately welcomed" Kim's decision to make the process around the closure public, and the two leaders agreed to consult each other about the timeline for inviting South Korean and US experts and journalists "as soon as the North is ready," Yoon said Sunday.Kim also announced during the summit that Pyongyang would change its time zone by half an hour to align it with Seoul time, reversing a decision made just three years ago in 2015, Moon's office said Sunday."There were two different clocks in the reception hall at Peace House. One was for Seoul time and the other for Pyongyang time, which made my heart heavy," Moon's office quoted Kim as saying. "Let's first unify the two different times of the two Koreas." 3087
NEW YORK — New York’s attorney general has sent a subpoena to the Trump Organization for records related to consulting fees paid to Ivanka Trump as part of an investigation into the president’s business dealings. That's according to a law enforcement official who spoke to The Associated Press Thursday on condition of anonymity. The New York Times reported that a similar subpoena was sent to President Donald Trump’s company by the Manhattan district attorney, who is conducting a parallel probe. The records requests followed recent reporting in The Times, based partly on two decades’ worth of Trump’s tax filings, that the president had reduced his company’s income tax liability over several years by deducting million in consulting fees as a business expense.Records strongly suggested, The Times reported, that 7,622 of those fees had been paid to Ivanka Trump, the president’s daughter, through a company she owned at a time when she was also a Trump Organization executive.If true, that wouldn’t necessarily pose a problem for Ivanka Trump herself, as long as she paid income tax on the consulting payments, which she reported publicly.It could, however, raise questions about whether the Trump Organization’s related tax deductions were allowable. The Internal Revenue Service has, in the past, pursued civil penalties over large consulting fee write-offs it found were made to dodge tax liability.Ivanka Trump tweeted that the subpoenas were “harassment pure and simple.” 1498
NEW YORK (AP) — Uber shares sunk even further after its disappointing stock market debut as doubts lingered over the company's ability to turn a profit and trade tensions dragged down the overall market.The ride-hailing giant's stock fell 10% and hovered around Monday afternoon on Uber's first full day of trading.The mounting losses followed Uber's disappointing initial public offering. On Friday, it took a 7 million hit — the largest loss on the first day of trading by a U.S.-based company in recent history, according to Renaissance Capital.Uber's earliest investors are still making money off the IPO, but "for late-round investors, it's possible by the time they exit they will end up with a loss," said Jay Ritter, finance professor at the University of South Florida.Among the recent big investors — and perhaps losers — is PayPal, which had disclosed plans to buy 0 million in Uber stock at the IPO price of .Uber has had no trouble convincing venture capitalists to pour money into its earlier funding rounds, but with its unclear path to profitability, it's having a more difficult time with Wall Street investors."It's clearly a high-risk, high-reward scenario. You're betting on something that may happen 10 years down the road," said Matt Kennedy, senior IPO market strategist at Renaissance Capital, a manager of IPO exchange traded funds. "Public investors are looking at profits and not seeing any, and the company's growth in the last quarter was relatively strong, but I don't think it blew anyone away."Uber's main U.S. rival, Lyft, is in a similar spiral. Its stock was trading below on Friday, down 33% from its IPO price of .It's rare to see shares in a tech company hit so hard upon going public. Over the past five years, just 10% of similar companies finished their first day of trading below their IPO price, Kennedy said.Uber's revenue last year surged 42% to .3 billion, but the company admits it could be years before it turns a profit. 2000
NEW ORLEANS (AP) — A New Orleans trumpeter is offering kids trumpets in exchange for guns. Shamarr Allen tells news agencies that he has a 9-year-old son and started the project last week, the day after a 9-year-old boy was shot and killed. He says the trumpet changed his life when he was 12 or 13 and started playing for tips in the French Quarter — and he wants to give other kids a chance. An online fundraiser, that had a goal of raising ,500, raised more than ,000 in just four days.According to the fundraiser, The Trumpet is My Weapon Gun Exchange Program is raising money to purchase trumpets, which go for about 0 each.Allen says several musicians have agreed to offer free virtual lessons to kids who get the trumpets. 744
NEW YORK (AP) — The American Museum of Natural History is removing a statue of Theodore Roosevelt on horseback with a Native American man and an African man on his sides after objections that it symbolizes colonial expansion and racial discrimination.Mayor Bill de Blasio said Sunday the city supports removal of the statue because it depicts Black and Indigenous people as subjugated and racially inferior.The statue at the museum's Central Park West entrance depicts Roosevelt on the horse with the Native American man and the African man standing on either side.The museum’s president, Ellen Futter, tells the New York Times the decision to remove the bronze statue comes amid the movement for racial justice following the killing of George Floyd.“As we strive to advance our institution’s, our City’s, and our country’s passionate quest for racial justice, we believe that removing the Statue will be a symbol of progress and of our commitment to build and sustain an inclusive and equitable Museum community and broader society,” said Flutter in a statement. 1072