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Hundreds of Thousands Gather at Brazil Gay Parade

Hundreds of thousands of people are gathering in the Brazilian city of Sao Paulo for one of the world’s largest gay pride parades.

 

The revelers have packed the city’s Paulista Avenue before Sunday’s parade. Some are helping hold up a gigantic rainbow-colored flag symbolizing LGBT rights.

 

Organizers say they expect 3 million people to participate in the city’s 21st annual gay pride parade.

The parade this year focuses on secularism and the idea that no religion is law regardless of people’s individual beliefs.

 

Claudia Regina is president of the gay rights group organizing the parade.

 

She says on the event’s official Facebook page that “our main enemies today are religious fundamentalists” and says some groups insist on condemning LGBT people and “removing rights that we have already obtained.”

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Economy & business
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With Whole Foods, Amazon on Collision Course With Wal-Mart

When Wal-Mart Stores Inc. bought online retailer Jet.com for $3 billion last year, it marked a crucial moment — the world’s largest brick-and-mortar retailer, after years of ceding e-commerce leadership to arch rival Amazon, intended to compete.

On Friday, Amazon.com Inc. countered. With its $14 billion purchase of grocery chain Whole Foods Market Inc., the largest e-commerce company announced its intention to take on Wal-Mart in the brick-and-mortar world.

The two deals make it clear that the lines that divided traditional retail from e-commerce are disappearing and sector dominance will no longer be bound by e-commerce or brick-and-mortar,  but by who is better at both.

Amazon’s purchase of Whole Foods also brings disruption to the $700 billion U.S. grocery sector, a traditional area of retailing that stands on the precipice of a ferocious price war.

German discounters Aldi and Lidl are battling Wal-Mart, which controls 22 percent of the U.S. grocery market, with each vowing to undercut whatever price the others offer.

The stakes are highest for Wal-Mart. Amazon’s move aims at the heart of the Bentonville, Arkansas-based retail giant’s business — groceries, which account for 56 percent of Wal-Mart’s $486 billion in revenue for the year ending Jan. 31. With the deal, Whole Foods’ more than 460 stores become a test bed with which Amazon can learn how to compete with Wal-Mart’s 4,700 stores with a large grocery offering that are also within 10 miles (16 km) of 90 percent of the U.S. population.

Amazon is expected to lower Whole Foods’ notoriously high prices, enabling it to pursue Wal-Mart’s customers. The push comes as Wal-Mart is headed in the opposite direction — going

after Amazon’s higher-income shoppers with a recent string of acquisitions of online brands such as Moosejaw and Modcloth and on Friday, menswear e-tailer Bonobos.

Wal-Mart may be ready. In preparation for the grocery price war, Wal-Mart in recent months has cut grocery prices, improved fresh food and meat offerings, modernized shelving and lighting

in its grocery aisles, and expanded its online grocery pickup service.

Marc Lore, the Jet.com founder who now runs Wal-Mart’s e-commerce business after selling a startup to Amazon, told Reuters in an interview that Amazon’s move does not change Wal-Mart’s game plan. “We’re playing offense,” he said.

Wal-Mart is offering curbside pickup of online grocery purchases at 700 locations, with 300 more planned by year end.

It also is testing same-day fresh and frozen home delivery from 10 of its stores. “We see an opportunity to do a lot more of that,” Lore said.

Roger Davidson, who oversaw Wal-Mart’s global food procurement and now is president of Oakton Advisory Group, said the deal will reduce Wal-Mart’s brick-and-mortar advantage.

“I think this acquisition is a concern,” he said.

Some industry observers say Amazon will find it difficult to use Whole Foods to pull away Wal-Mart shoppers because the two stores appeal to different customers. But Michelle Grant, head of retailing at market research firm Euromonitor, said Amazon could use an obscure part of the Whole Foods portfolio — Whole Foods 365 — to lure Wal-Mart shoppers.

Whole Foods 365 offers private-label goods and lower prices than typical Whole Foods stores, and is targeted at younger, value-conscious shoppers. Amazon could provide the financial

capital and tactical ability to build that into something big.

“That [Whole Foods 365] may become a big problem for Wal-Mart,” Grant said.

Amazon, which reported $12.5 billion in cash and equivalents and a free cash flow of $10.2 billion in the year ended March 31, has plenty to spend. Wal-Mart reported $6.9 billion in cash

and equivalents and $20.9 billion in free cash flow at its year ended Jan. 31.

Brittain Ladd, a former senior manager at Amazon who worked on its brick-and-mortar strategy, said Amazon will use Whole Foods to test concepts for the grocery store of the future.

Ladd, who left Amazon in March, said Amazon will seek to eliminate checkout lines by using technology that automatically scans goods as customers add them to their shopping carts. It

will select merchandise based on Amazon’s vaunted customer data, and potentially expects the use of technology to change prices during the course of a day.

Amazon declined comment on competition with Walmart but spokesman Drew Herdener said in a statement the company has no plans to cut jobs or use technology in development at its

Seattle Amazon Go store to automate jobs of cashiers.

Ladd, who helped with AmazonFresh’s global expansion and now is a supply chain consultant, said an Amazon-owned Whole Foods also likely will offer in-car pickup of online purchases, and

home delivery from Whole Foods stores, add pharmacies and showcase Amazon devices inside the stores.

“Amazon will reduce prices and change the assortment of products carried in Whole Foods stores to attract a larger customer base,” said Ladd. “Kroger and Wal-Mart will be impacted as their customers will defect to Amazon.”

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Reports: Beyonce Gives Birth to Twins in L.A.

U.S. singer Beyonce has given birth to twins in Los Angeles, several celebrity news websites reported Saturday, citing unidentified sources.

Beyonce, 35, and rapper and music producer Jay Z, also have a 5-year-old daughter, Blue Ivy.

E! News, citing multiple unidentified sources, reported the birth and that Jay Z and Blue Ivy were seen at a Los Angeles area hospital Thursday. Us Weekly, also citing multiple unidentified sources, reported that the couple welcomed twins earlier this week.

“Bey and Jay are thrilled and have started sharing the news with their family and closest friends,” one unidentified source told PEOPLE.

Reuters could not verify the reports. A representative for Beyonce did not respond immediately to a request for comment.

The celebrity news websites did not provide additional details, such as the date and time the twins were born or the sex of the infants.

Pregnancy announced on Instagram

The “Lemonade” singer, one of the most powerful women in the music business, announced the pregnancy on her Instagram account in February along with an image of her posed in lingerie and caressing a noticeable baby bump.

The announcement got more than 8 million “likes” in the first 24 hours to become the “most-liked” Instagram ever.

The R&B singer performed live at the Grammy awards in Los Angeles two weeks later, proudly displaying her swelling belly in a motherhood-themed show. She has since posted numerous pictures of her bare baby bump on her social media accounts.

The birth of Blue Ivy caused a paparazzi storm in 2012, with New York’s Lenox Hill hospital shutting down part of its maternity wing to accommodate music’s royal couple.

Rumor of marital trouble

News of the pregnancy came less than a year after the release of Beyonce’s 2016 album “Lemonade,” in which she appeared to address long-standing rumors of trouble in her eight-year marriage.

The lyrics of several songs spoke about being cheated on, and regretting being married. But Beyonce made clear in the final tracks of the album and in music videos featuring Jay-Z that she had decided to stay in the relationship.

The couple have never addressed the rumors publicly.

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Stephen Furst, of ‘Animal House’ and ‘St. Elsewhere,’ Dies at 63

Stephen Furst, who played naive fraternity pledge Flounder in the hit movie Animal House, has died of complications from diabetes, his family said Saturday. Furst was 63.

Furst died Friday at his home in Moorpark, California, north of Los Angeles, said his son, Nathan Furst.

Furst played Kent “Flounder” Dorfman in the 1978 film that also starred John Belushi. It was Belushi’s character, Blutarsky, who drew Flounder into a prank that went terribly wrong and ended up with the frantic Flounder shooting a gun loaded with blanks into a ceiling, frightening a horse so much that it died of a heart attack.

Furst’s long list of credits included the 1980s medical drama St. Elsewhere, on which he played Dr. Elliot Axelrod. He played Vir Coto and was an occasional director on the 1990s sci-fi series Babylon 5.

He also voiced characters on projects including TV’s Buzz Lightyear of Star Command and the video The Little Mermaid 2: Return to the Sea.

“He was proudest of his family, and he felt blessed and incredibly privileged to have the career that he had an enjoyed,” Nathan Furst said Saturday.

Stephen Furst also was a director and producer, working with his other son, Griff. Their Curmudgeon Film projects included the movies My Sister’s Keeper and Cold Moon, a suspense thriller set for release in October, Griff Furst said.

Stephen Furst’s survivors include his wife, Lorraine, and two grandchildren, his sons said.

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Economy & business
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Tax Overhaul in Trouble as Opposition to Import Tax Grows

A key part of House Republicans’ plan to overhaul the way corporations pay taxes is on life support, leaving lawmakers scrambling to save one of President Donald Trump’s biggest priorities and increasing the chances the GOP will simply pass a tax cut instead of overhauling the tax code.

A proposed tax on imports is central to the GOP plan to lower the overall corporate tax rate. It would generate about $1 trillion over the next decade to finance the lower rates without adding to the deficit. It would also provide strong incentives for U.S.-based companies to keep their operations in the United States and perhaps persuade companies to move overseas operations to the U.S.

But the tax faces strong opposition from retailers, automakers and the oil industry, and a growing number of congressional Republicans have come out against it. They worry that it will increase the cost of imports, raising consumer prices.

Import tax

Majority Leader Mitch McConnell, R-Ky., says there probably aren’t enough votes to pass the import tax in the Senate — not a single Republican senator has publicly endorsed it. And a powerful group of House conservatives says it’s time to dump the idea.

“The sooner we acknowledge that and get on with a plan that actually works and actually can build consensus, the better off we will be,” said Rep. Mark Meadows, R-N.C., chairman of the conservative Freedom Caucus.

Even one of the biggest backers of the new tax says he is open to other ideas.

Rep. Kevin Brady, R-Texas, has pushed the tax as chairman of the powerful House Ways and Means Committee. He still says it’s the best way to promote economic growth and domestic jobs, but he has softened his stance on alternatives.

“I’m still confident that we’re going to stay at the table until we solve that problem, which is how do we stop U.S. jobs from continuing to leave the United States,” Brady said. “We’re going to remain open to the best ideas on how we do that.”

On Tuesday, Brady proposed gradually phasing in the tax over five years to give corporations time to adjust.

It wasn’t received well by opponents.

“Forcing consumers to pay more so that some profitable companies can operate tax-free is no better of an idea in five years than it is today,” said Brian Dodge of the Retail Industry Leaders Association.

What next?

But if the import tax is dead, then what?

“I would never declare anything dead until there was a fully formed alternative,” said Rohit Kumar, a former tax counsel to McConnell who now heads PwC’s Washington tax office. “I think that’s one of the big challenges that Republicans are struggling with right now.”

Thirty-one years after the last tax overhaul, there is widespread agreement that the current system is too complicated and picks winners and losers, compelling companies to make decisions based on tax implications instead of sound business reasons.

The goal — for now — is to simplify the tax code and make it more efficient in a way that does not add to the federal government’s mounting debt. That means some would pay more and some would pay less, a heavy political lift among politicians who have deep political and practical disagreements.

Lawmakers also are trying to overhaul taxes on individuals, which raises another set of big challenges.

“It’s easier to get a coalition to cut taxes,” said Mark Mazur, a former Treasury official under President Barack Obama. “And if the conversation is, `how long do they last and how deep are the tax cuts,’ each party knows how to do that conversation. It’s not like you’re asking for a huge lift.”

The new import tax, which is called a border adjustment tax, would radically change the way corporations are taxed. Under current law, corporations pay a top tax rate of 35 percent on their profits. But the tax code is filled with so many exemptions, deductions and credits that most corporations pay a much lower rate.

Proposal

Under the proposed system, American companies that produce and sell their products in the U.S. would pay a new 20 percent tax on the profits from these sales. However, if a company exports a product, the profits from that sale would not be taxed by the U.S.

Foreign companies that import goods to the U.S. would also have to pay the tax, and they would not be able to deduct the cost of the imported good as a business expense.

Republicans in Congress and at the White House have been meeting behind closed doors for weeks to come up with viable alternatives. Democrats have been largely excluded from the talks, leaving Republicans with little room for error.

“I still think that Republicans, out of pure political necessity, if nothing else, are likely to find a way to get some sort of tax bill to the president’s desk for his signature,” Kumar said.

Whether it’s genuine tax reform or simply a tax cut “is still very much in question right now,” he added.

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