Assange Faces Extradition
You might know ADP as the biggest name payroll, but that's just the beginning. Because ADP is transforming the way great work gets done with HR talent time benefits and payroll informed by data and designed for people. That's ADP always designing for people. It's Julian Assange is I XE tradition hearing, but don't expect a quick resolution. Still figure it could take a couple of years for all this to play and attorney general William barb refuses to submit to a second day of questioning sparking outrage from Democrats is terrified of having to face a spilled attorney. Hold interest rates steady. Our outlook outlook is for as a positive one is a healthy one. This is what's news from the Wall Street Journal. I am Kim Gittleson. Let's get started. Now before we get into our main story this morning and update on just where things stand with the WikiLeaks, founder, Julian Assange. Here's what you missed after a pretty contentious Senate hearing attorney general William Barr refused to appear for a second day of questioning in front of a house panel. Mr. bar disagreed with Democrats over the format of the appearance that refusal prompted quite a bit of anger from the House Judiciary chair, Jerry Nadler of New York. General has a nerve to try to dictate the administration is a nerve to dictate our procedures as simply part of the administration's complete stonewalling of congress period. And with the ranking member saying is that by determining how we will proceed we are stonewalling. As if it's our choice that he should not come separately. The Justice department declined to turn over an unredacted version of the Miller report that had been subpoenaed by the house committee, Mr. Nadler threatened to hold Mr. bar in contempt of congress for the refusal and as expected the Federal Reserve kept its target federal funds rate steady at the conclusion of its two day policy meeting yesterday during a press conference charity Powell said the committee felt that many of the issues that had concerned investors and to communist earlier this year had muted at the start of the year. A number of cross-currents presented risks to the outlook including week global growth, particularly in China and Europe. The possibility of a disruptive, Brexit and uncertainty around unresolved trade negotiations. Well, concerns remain in all of these areas. It appears that risks have moderated somewhat plus four point five billion dollars isn't bad, especially if you're Qualcomm in an interview with us chief executive Steve Mollenkopf said that the chipmaker could receive anywhere from four point five to four point seven billion dollars from apple this is part of a settlement over the infringement of intellectual property rights. That was agreed to last month after hours yesterday shares in the company dipped after the company reported a revenue decline in its second quarter results. Qualcomm blamed economic weakness in China, and the delay of the rollout of the next generation wireless technology. Now, our main story this morning, we're going to catch you up with just what exactly is happening with the WikiLeaks founder Julian Assange in London to bring you up to date in two thousand twelve Mr Assange took refuge in the Ecuadorian embassy in London after claiming asylum, but earlier in April Ecuador abruptly withdrew its asylum that paved the way for Mr Assange to then be arrested yesterday. He was sentenced to fifty weeks in prison in the UK for violating bail the current editor of WikiLeaks wasn't pleased with the judge's decision. Today. Is an outrage. And it's vindictive in nature. And it doesn't give us a lot of faith in the UK Justice system for the fights ahead today. The focus moved to extradition. Protesters gathered outside the Westminster court where the hearing was held. Now, it was a largely procedural hearing with Mr Assange declining to surrender himself for extradition to the US. So what next Jason Douglas has been following the twists and turns from London. So first things first Jason Mr Assange will be spending some time in jail in the UK at least. That's right. So he was sentenced on Wednesday to fifty weeks in jail for jumping bail in relation to these charges. Brought against him in Sweden Danny back to twenty twelve where he was accused of rape. I think other sexual offenses as well. But the much bigger thing hanging over Julian Assange head is of course, this extradition request from the United States who have charged him in federal court with computer hacking relation to the big WikiLeaks, dump of diplomatic cables and lots of other classified documents back in twenty ten. This can't be lengthy process in the UK. The authorities have made a bit of an effort to streamline extradition process after chop gold. Gary McKinnon the extradition hearing for him to well over ten years. Ten years. Sorry here and take back here with this man was held in limbo for ten years, not knowing if he could stare go, essentially, Mr. McKinnon's case was a little bit unusual hit broke. He was also a computer hacker onto broken into the Pentagon. But he also suffered from aspartame syndrome wasn't a very well guy on. So this sort of went back and forth between the courts and appeals on ministers and the UK government on the US authorities, of course, for almost ten years eventually the extradition request was refused because of Mr. McKinnon's health, Mr Assange, isn't quite in the same position as mentioned the UK. Authorities have tried to streamline extradition request after that McKinnon debacle as it were a lot of Lawrence that still think it could take a couple of years for all this deployed there'll be an extradition hearing, Mr. Sanchez likely to appeal. This is. Like to go back and forth of the bit. So it could be a while before the US finds out his fate. So he'll do jail time for fifty weeks here in the UK. And if it hasn't been sorted by. Then where does he go, right? So he'll do it. He was sentenced to fifty weeks in jail. The judge said he will serve twenty five and then probably be released under supervision under licenses. They say in the UK. So during that time, we might get the first sort of extradition hearing. Then there will be appeals the other thing and this is Sweden. So they have decided that they might the the Swedish prosecutors recently said after Assange was arrested last month in April that they were going to look again at the sexual allegations against him from back in two thousand twelve so that is yet another thing hanging over his head. You know, we might find it more from the Swedish authorities in the coming weeks. But the question of the UK courts might end up being should we extradite him to Sweden or to be extradited to the us? I. Sweden is part of the European Union. The subject to the European arrest warrant, which is a much quicker process than the lengthier extradition to in the Yukon and US. So who knows what will happen fans, incredibly complicated, and like we're knocking an answer for many, many months to come. No, I think that's right. I think Mr Assange fate won't be decided anytime soon for all of our coverage of the Julian Assange case, you can head to WS J dot com. You might know ADP as the biggest name in payroll, but that's just the beginning. Because ADP is transforming the way great work gets done with HR talent time benefits and payroll informed by data and designed for people. That's ADP always designing for people. Onto markets all three main indices closed lower yesterday following that fed decision. Even with those upbeat comments from Mr Powell about the health of the US economy. But despite this the twenty nineteen market rally looks set to continue our global markets. Reporter Steven russillo breaks down the Fed's decision and explains why investors aren't too concerned the fed took mortgage a little bit by surprise on Wednesday after a fed chairman Jerome Powell, basically said that he was comfortable leaving interest rates unchanged for the time being. And there was a little bit of an expectation building in the market that perhaps the fed would cut interest rates in the coming months, which would add sort of another stimulus to this big rally that we've seen in US stocks and risky assets of cross the board. So the fact that the fed said that it was going to take a step back in keep things. Unchanged was a little bit surprising now, I don't believe this is going to be a huge hindrance to the rally that we've seen this year. In two thousand eighteen for instance, the fed raised rates four times, and that was really detrimental to the markets and market performance last year. But this year, it's been quite the opposite. The fed has really taken things slow there. Watching the economic data to see what they do next and really thinks have been looking quite positive on the data front. Things have looked quite strong earnings have been pretty solid. And so looking ahead. It seems like even though the fed is going to take things slower and the market kinda sold off a little bit on Wednesday. Don't believe it's going to be a huge hindrance to the round. And now the scan here's what to look forward to later today. The British Bank. Barclays will hold its investor meeting. Barclays is one of the last full service banks in Europe that competes with the likes of Goldman Sachs and Morgan Stanley, but not everyone agrees with si yo just Staley's vision for the Bank that isn't helped by his relative status as an outsider. He's American expect a showdown today between Mr. Staley and Edward Bramson. He's a British-born activist investor who wants Parkway is to scale back its ambitions. Mr. Bramson also wants a seat on the board. Plus the house of representatives will vote today on a largely symbolic Bill. This is to block the Trump administration from pulling out of the Paris climate accord, the measure looks unlikely to pass the Senate, and it's mostly seen as a move that will give Democrats who are divided on a series of other climate issues something that they can rally around. Finally, we reported that the family of a Chinese student paid six point five million dollars to secure a spot at Stanford. This was the largest amount paid to William Rick singer. He's the college consultant at the heart of the college admission scandal, the family was connected to singer by Morgan Stanley financial advisor. Who's now been fired? Have you been following the case, what do you think should happen to the students or parents who paid money tweet us at W shape, podcasts or Email us at what's news all one word at wsJcom? That's what's news from the Wall Street Journal. Thanks for listening.