Turkey ready to undertake duty for observing potential ceasefire in Ukraine, source says

 Turkey is ready to undertake the duty to observe a possible ceasefire in Ukraine, its foreign minister said during a "coalition of the willing" call with Kyiv's partners on Saturday, a Turkish foreign ministry source said.

The leaders of Britain, France, Germany, Poland -the so-called "coalition of the willing"- and Ukraine have met in Kyiv on Saturday. They agreed to an unconditional 30-day ceasefire on May 12 with the backing of U.S. President Donald Trump, threatening President Vladimir Putin with new "massive" sanctions if he failed to comply.

Turkey's Foreign Minister Hakan Fidan joined the coalition of the willing call and emphasised Turkey's commitment to Ukraine's territorial integrity, the Turkish foreign ministry source, speaking on condition of anonymity, said.

Fidan voiced Ankara's support for the efforts for the unconditional ceasefire and added that Turkey was ready to undertake the duty for observing the ceasefire in Ukraine if it is established, the source also said.

NATO member Turkey has maintained cordial ties with both Kyiv and Moscow since Russia's full-scale invasion of Ukraine in 2022. It has voiced support for Ukraine's territorial integrity and provided it with military help, while opposing sanctions on Russia.

In March, Turkey's defence ministry said that it could contribute to a potential peacekeeping mission in Ukraine if a ceasefire between Ukraine and Russia is declared. Last month, Ukrainian, British, French and Turkish military representatives met in Turkey to discuss Black Sea security after a possible ceasefire is agreed between Ukraine and Russia.

https://www.globalbankingandfinance.com/UKRAINE-CRISIS-COALITION-TURKEY-1d3d6e2d-d169-472c-8c2d-64504f83e62d

US federal HR agency leading DOGE job cuts cancels sole-source Workday award

 The U.S. federal human resources agency at the heart of billionaire Trump adviser Elon Musk’s efforts to slash the federal workforce on Friday canceled a contract it had awarded to Workday (NASDAQ:WDAY) and which had excluded other bidders.

The contract for a new cloud-based HR platform, signed on May 2 and awarded without seeking bids from rivals, had raised eyebrows among current and former employees of the Office of Personnel Management.

They had described the sole-source contract as irregular, given the competition in an industry that includes ADP and SAP, and expressed surprise to see OPM’s largely successful in-house HR platform on track to be replaced.

On Friday, a federal contracting website page about the award was updated to state that the award opportunity was canceled, without elaborating.

OPM and Workday did not respond to requests for comment. OPM said earlier this month that the sole-source award was necessary due to "operational failures" and federal mandates that required immediate action.

The Workday project, while small at $342,200, had the potential to set the stage for a much larger award, since many federal agencies rely on the OPM HR platforms that the new project sought to replace.

The award drew criticism as running counter to the mission of the Department of Government Efficiency, which was set up by Musk to make the government more efficient by firing workers and cancelling contracts as well as by cracking down on waste and abuse.

"This procurement undermined the integrity of DOGE, who was supposed to root out fraud waste and abuse," said John Weiler, director of the Information Technology Acquisition Advisory Council, a government-chartered nonprofit group that makes recommendations to improve federal IT contracting.

"This was a blatant disregard of the rule of law," he added, citing federal contracting law and regulations.

https://www.investing.com/news/stock-market-news/us-federal-hr-agency-leading-doge-job-cuts-cancels-solesource-workday-award-4037618

Trump Says India And Pakistan Agreed To "Full & Immediate Ceasefire"

 India and Pakistan, both nuclear-armed nations, appeared to be spiraling toward broader conflict on Saturday, setting the stage for another day of scary headlines that could trigger World War III. But just moments ago, President Trump announced on Truth Social that India and Pakistan have "agreed to a FULL AND IMMEDIATE CEASEFIRE." 

"After a long night of talks mediated by the United States, I am pleased to announce that India and Pakistan have agreed to a FULL AND IMMEDIATE CEASEFIRE," Trump said. 

The president continued, "Congratulations to both Countries on using Common Sense and Great Intelligence. Thank you for your attention to this matter!"

Trump's announcement is a surprise, but it comes after US Secretary of State Marco Rubio began back-and-forth diplomacy to end the weeks-long confrontation between India and Pakistan. 

The Guardian provided more color on Rubio's diplomatic mission: 

Rubio has been engaged in back-and-forth diplomacy between the two countries in recent days, calling for de-escalation as India and Pakistan have been engaged in daily clashes since Wednesday.

The US's top diplomat "continued to urge both parties to find ways to de-escalate and offered US assistance in starting constructive talks to avoid future conflicts," state department spokesperson Tammy Bruce said in a statement on Saturday.

About 25 minutes after Trump's Truth Social post, Rubio wrote on X:

Over the past 48 hours, @VP Vance and I have engaged with senior Indian and Pakistani officials, including Prime Ministers Narendra Modi and Shehbaz Sharif, External Affairs Minister Subrahmanyam Jaishankar, Chief of Army Staff Asim Munir, and National Security Advisors Ajit Doval and Asim Malik.

I am pleased to announce the Governments of India and Pakistan have agreed to an immediate ceasefire and to start talks on a broad set of issues at a neutral site.

We commend Prime Ministers Modi and Sharif on their wisdom, prudence, and statesmanship in choosing the path of peace.

Earlier, G7 foreign ministers issued a joint statement calling for "immediate de-escalation" between the two countries. 

UK Foreign Secretary David Lammy and his counterparts in Canada, France, Germany, Italy, Japan, and the US urged "maximum restraint from both" countries. They cautioned that "further military escalation poses a serious threat to regional stability."

"We call for immediate de-escalation and encourage both countries to engage in direct dialogue towards a peaceful outcome," said the G7 foreign ministers.

X user Matt Van Swol wrote: "How many hats can Marco Rubio wear and still deliver incredible results???? This is absolutely amazing." 

https://www.zerohedge.com/geopolitical/trump-says-india-and-pakistan-agreed-full-immediate-ceasefire

Pakistan PM calls meeting of body that oversees nuclear arsenal, says Pakistan military

 Pakistan Prime Minister Shehbaz Sharif has called a meeting of the National Command Authority on Saturday, the military said, after Islamabad launched a military operation against India and targeted multiple bases.

The authority is the top body of civilian and military officials that takes security decisions including those related to the country’s nuclear arsenal.

Tensions between the nuclear-armed neighbours escalated this week as they both accused each other of violating airspaces by sending drones and other munitions, killing at least 48 people.

https://www.investing.com/news/world-news/pakistan-pm-calls-meeting-of-body-that-oversees-nuclear-arsenal-says-pakistanmilitary-4037673

Newly elected pope accused of not acting quickly enough to address past cases of abuse by priests

 While Chicago is celebrating the election of a new pope from the South Side, not everyone's cheering. Some are hoping this could be a moment when it comes to how the Catholic Church addresses child abuse by its priests.

The Chicago-based Survivors Network of those Abused by Priests (SNAP) told the ABC7 Chicago I-Team that the newly elected Pope Leo XIV, or Cardinal Robert Prevost, didn't act quickly enough or transparently in response to local cases of child sex abuse by priests.

Peter Isley of SNAP said he is sounding the alarm

"We cannot have another pope that's covered up sex crimes," Isley told the I-Team from Rome. "The last three have; we cannot have another one. We can't drag this into another papacy."

SNAP said when then-Robert Prevost was head of the Midwest Augustinian order, in a position of power and authority, he did not take action quickly enough after alleged abuse committed by Father Richard McGrath.

McGrath was principal of Providence Catholic High School in New Lenox.

In 2018, ABC7 spoke with Bob Krankvich, after he accused Father McGrath of sexually abusing him during his freshman and sophomore years at Providence Catholic High School.

"I realize I have to do this; I have to do this to give other people a voice, not just for myself but for other victims," Krankvich said.

Krankvich sued the Augustinian Order and Providence High School in 2018. The case settled in 2023 in Krankvich's favor for $2 million.

The Midwest Augustinian Order confirmed to the I-Team McGrath was dismissed from the order in December 2024, and his whereabouts are unknown to church authorities.

Abuse survivor Krankvich died last month, after heart and liver issues associated with long-term alcohol abuse, Krankvich's attorney Marc Pearlman told the I-Team.

Looking back at this litigation and other cases involving the Augustinian Order, Pearlman said the church, under Prevost's leadership, did not act "transparently or compassionately."

"Their words ring hollow, and their actions speak volumes," Pearlman said.

Pearlman said Prevost was referenced in multiple documents in this and other alleged abuse cases he has litigated with the Augustinian Order.

SNAP and the organization Ending Clergy Abuse (ECA) wrote a letter in 2023 to Cardinal Christophe Pierre, accusing Prevost and four other Illinois church leaders of "inaction" after the McGrath allegations became public.

Pearlman hopes that this new papacy will bring change.

"I've watched the coverage on the new pope, and no one even mentioned sex abuse, and we better keep talking about it," Pearlman said. "What the new pope can do is address this issue head-on, and act with transparency and compassionately."

Prevost has given several public statements about the Catholic sexual abuse scandal, telling the Portugal news publication "La Republica" in 2019, "If you are a victim of sexual abuse by a priest, report it."

"We reject cover-ups and secrecy; that causes a lot of harm because we have to help people who have suffered due to wrongdoing," Prevost said.

One representative from SNAP told the I-Team the first American pope is the spotlight their organization needs to root out sexual abuse in the Catholic Church. SNAP is urging the new pope to sign a zero-tolerance sexual abuse policy into Catholic law.

"He needs to tell the truth to the Catholic people, and he needs to sign that zero tolerance law," Isley said. "And we will work with him."

https://abc7chicago.com/post/newly-elected-chicago-pope-leo-xiv-accused-not-acting-quickly-enough-address-past-cases-abuse-priests/16370738/

China's factory-gate deflation deepens as trade war bites

 China's factory-gate prices posted the steepest drop in six months in April while consumer prices fell for a third month, underlining the need for more stimulus as policymakers grapple with the economic toll from a trade war with the United States.

A prolonged housing market downturn, high household debt and job insecurity have hampered investment and consumer spending, keeping deflationary pressures alive. Now, the economy is also facing increasing external risks from trade barriers.

However, there are hopes for a de-escalation of tensions as U.S.-China trade talks begin in Switzerland on Saturday.

The producer price index (PPI) dropped 2.7% in April year-on-year, worse than a 2.5% decline in March but was less than economists' forecast for a 2.8% fall, National Bureau of Statistics data showed on Saturday.

"China still faces persistent deflationary pressure," said Zhiwei Zhang, chief economist at Pinpoint Asset Management. "The pressure may rise in coming months as exports will likely weaken."

"Even if China and the U.S. can make progress and cut tariffs in trade negotiations, tariffs are unlikely to go back to the level before April," Zhang added. "More proactive fiscal policy is necessary to boost domestic demand and address the deflation problem."

Consumer prices eased 0.1% last month from a year earlier, matching a 0.1% drop in March and the forecast in a Reuters poll.

CPI was up 0.1% month-on-month versus a 0.4% fall in March and compared with economists' forecasts for no change in prices.

Core inflation, excluding volatile food and fuel prices, stood at 0.5% in April from a year earlier, in line with the increase recorded in March.

The Chinese government is implementing a wide range of measures to stimulate consumption across different sectors and last week announced a raft of stimulus measures, including interest rate cuts and a major injection of liquidity.

As the trade war between the world's two largest economies weighs on exports, China's retail giants, including JD.com and Alibaba-owned Freshippo, have initiated measures to help exporters pivot to the domestic market. That could further depress prices as business and consumer confidence remain subdued due to the uncertain outlook.

Global investment banks, including Goldman Sachs, have lowered their GDP forecasts for China this year to below the official target of around 5%, attributing the downgrade to the damaging trade war.

https://www.msn.com/en-us/money/markets/china-s-factory-gate-deflation-deepens-as-trade-war-bites/ar-AA1Ev8LS

US-Sanctioned Zombie Tanker Exposes Dark Trade Between Tehran And Beijing

 Just over a week after Bloomberg exposed the rise of "zombie" or "phantom" oil tankers—cargo ships that hijack the identities of scrapped ships to evade U.S. sanctions—another clandestine maritime supply chain has emerged, this time revealing how Iranian crude continues flowing into China despite mounting pressure from the Trump administration. 

Bloomberg reports that a U.S.-sanctioned "zombie" tanker—Gather View, disguised as a scrapped vessel named Global—delivered 2 million barrels of Iranian oil to a government-run port in Shandong despite a provincial ban on sanctioned ships. Ship tracking data showed the zombie tanker's port call occurred in late April. 

The clandestine maritime supply chain reveals an increasingly desperate Tehran and China's "teapot" refiners, defying U.S. sanctions and allowing the Iranian oil trade to remain alive. 

In a separate report, Reuters reported that U.S. sanctions on two small Chinese teapots have created difficult operating conditions for those refineries.

President Trump has been seeking "maximum pressure" on Iran by disrupting Tehran's crude export operations with sanctions over its nuclear program. 

In March, the U.S. sanctioned Shandong Shouguang Luqing Petrochemical and Shandong Shengxing Chemical in April.

Beijing has previously rejected unilateral sanctions and defends legitimate trade with Iran. China has become Iran's largest crude buyer.

"Iran needs to be creative because the pace for them to find new tankers cannot really match the pace of US sanctions," Muyu Xu, senior crude oil analyst at analytics firm Kpler in Singapore, told Bloomberg, adding, "So that's why we're seeing them come up with this tactic."

Last month, Bloomberg identified zombie tankers hauling Venezuelan crude as these new tactics to operate dark fleet operations become more prevalent with foreign adversaries of the U.S. 

https://www.zerohedge.com/commodities/us-sanctioned-zombie-tanker-exposes-dark-trade-between-tehran-and-beijing