Reus to miss Euro 16 due to injury

Today, Joachim Löw, manager of the German national football team, dropped Borussia Dortmund midfielder Marco Reus from the Euro 2016 squad. Marco Reus, who turned 27 years old today, is suffering from groin injury. He had also missed the 2014 FIFA World Cup final.

File photo of Marco Reus.
Image: Michael Kranewitter.

Löw said their medical staff wasn't sure Reus could meet the demands of the forthcoming games. He added, "Marco has serious fitness problems; he can only run in a straight line at the moment."^((de))

Löw also did not include other Bundesliga players Karim Bellarabi, Julian Brandt, and Sebastian Rudy from the provisional squad in the final selection. Thanking the four German internationals for their performance in training, he said, "It's not a decision against those four players, but rather one in favour of the other 23."^((de))

Germany is to play Ukraine on June 12 in the Euro 2016 and Hungary in a friendly this weekend.

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Australian Opposition Leader pledges to save Great Barrier Reef

Australian opposition leader Bill Shorten, speaking in Cairns yesterday, pledged an A$500 million fund towards research and programs to help protect Australia's environmental icon The Great Barrier Reef.

File photo of The Great Barrier Reef.
Image: Jorge Láscar.

Recent surveys indicated coral bleaching has killed more than a third of coral in the Great Barrier Reef's north and central regions. "All of this", said Mr Shorten, "is at risk if serious action is not taken to protect it. The Great Barrier Reef is an environmental treasure Australia holds on trust for the world".

The Australian Research Council (ARC) Centre of Excellence for Coral Reef Studies performed the surveys. Bleaching is associated with higher-than-average water temperatures resulting from El Niño events, affected by climate change.

ARC said bleaching had affected all but seven percent of the reef. This bleaching event is the third of its kind with notable occurrences in 1998 and 2002. This event in particular has had the biggest impact on the reef so far.

Two weeks ago, James Cook University scientists said the government would have to commit A$10 billion over the next decade or the reef would be incurable in half that time.

Mr Shorten's $500 million investment in research and protection of the reef would be spread over four years.

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¡La Undécima!: Real Madrid wins 2015-16 UEFA Champions League 5-3 on penalties

On Saturday, Spanish football club Real Madrid defeated their city rivals Atlético Madrid 5𔃁 in a penalty shootout decider in the UEFA Champions League final played at the San Siro stadium in Milan, as the match ended in a 1𔂿 draw after 120 minutes. This was Real's eleventh European title — La Undécima. Ronaldo scored the winning penalty kick after Juanfran failed to find the net.

File photo of Real Madrid winning the Champions League final in 2014 against Atlético Madrid
Image: El Coleccionista de Instantes Fotografía & Video.

Just before the quarter-hour mark Juanfran brought down Gareth Bale and Real won a free kick. Sergio Ramos scored from Toni Kroos's free kick in the 15th minute which gave Los Blancos an early lead. The first half ended 1𔂾.

In the beginning of the second half, Pepe brought down Fernando Torres in the penalty area and Atlético won a penalty kick. Goalkeeper Keylor Navas was booked after the decision, for delaying the penalty kick. Frenchman Antoine Griezmann was unable to score as he hit the crossbar with his penalty attempt. But Rojablancos equalised in the 79th minute as Carrasco scored from Juanfran's cross, converting his shot into the top left corner. Just before the full-time whistle, Gabi and Sergio Ramos were booked. The match went to additional time after 1𔂿 draw at the end of full-time.

Danilo was shown a yellow card just three minutes after starting the additional time. And Pepe was the last player to be booked after committing a foul against Gabi.

In the penalty shootout, Lucas Vázquez, Marcelo, Bale and Ramos scored for Real Madrid. Grizemann, Gabi and Saúl scored for Rojablancos. Juanfran missed the spot kick, and Ronaldo scored the winning penalty which earned Real Madrid the title.

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Nadal withdraws from French Open 2016, suffers from wrist injury

Yesterday, nine-time French Open winner Rafael Nadal withdrew from this years' tournament suffering from a wrist injury.

File photo of Rafael Nadal
Image: MarioGalli01.

	I feel myself with the right motivation and the right energy to be back at Roland Garros the next couple of years
—Rafael Nadal

On Thursday, Nadal defeated Facundo Bagnis with his wrist anesthetized. With that victory, he became eighth man in history to achieve 200 wins in Grand Slams. Nadal had won ninth Monte Carlo Masters title in April.

In the press conference, Nadal said, "It's not broken but if I continue to play, my wrist will break in a few days"^((fr)). Nadal said he felt wrist pain two weeks before he arrived at the French capital Paris. He also said, "This is one of the toughest press conferences of my career".

The seeded number 4 Spainard also admitted he could not play with his forehand. He was scheduled to play against Marcel Granollers. Nadal has an 87% win record in Grand Slams winning 200 matches out of 230.

He concluded the press conference by saying, "I feel myself with the right motivation and the right energy to be back at Roland Garros [the French Open] the next couple of years[...] It's a tournament that I love so much."

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Manchester United appoints José Mourinho as new manager

Today, Manchester United F.C. announced they appointed Portuguese José Mourinho as their new manager for the next three seasons with an option to stay at the club until 2020. Mourinho's predecessor Louis van Gaal was fired on Monday after two-years of service at Old Trafford.

File photo of Mourinho
Image: Aleksandr Osipov.

	Jose is quite simply the best manager in the game today. He has won trophies and inspired players in countries across Europe
—Ed Woodward, Manchester United Vice-Chairman

Manchester United finished in fifth position in the Premier League this season under Dutchman Louis van Gaal and missed out on UEFA Champions League qualification, but won the FA Cup 2𔂿 against Crystal Palace.

Mourinho previously served London-based club Chelsea in two spells and won the Premier League with them three times, lastly in the 2014󈝻 season. He also worked with Spain's capital club Real Madrid winning one La Liga title with Los Blancos, Champions League and domestic league titles with Portuguese club FC Porto and Italian club Internazionale.

Mourinho has a 66% win record and 2.19 points-per-match ratio in the Premier League, the best in the league. In his first season (2004-05) at Chelsea, The Blues won the title with a record high 95 points.

Ed Woodward, Manchester United's executive vice-chairman, praised Mourinho saying "Jose is quite simply the best manager in the game today. He has won trophies and inspired players in countries across Europe and, of course, he knows the Premier League very well, having won three titles here". Mourinho said, "It is a club known and admired throughout the world. There is a mystique and a romance about it which no other club can match".

Mourinho has won trophies in four different countries. His team is to face German side Borussia Dortmund and local rivals Manchester City in club friendlies during July.

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India set to install panic buttons on buses to combat sexual assault

The Indian Government announced on Wednesday they will issue a notification to ensure all buses are fitted with panic buttons to prevent sex-related violence occurring on buses in India. The motion was introduced by Road Transport and Highways Minister Nitin Gadkari. Installation of the buttons is set to become mandatory on June 2.

Tests are under way on 20 buses running from Rajasthan to New Delhi. Buses are to have panic buttons, a GPS-enabled vehicle tracking device, and CCTV cameras. The new buttons are located at the front doors and when pressed, a police control room has the ability to view live footage recorded inside the bus.

Last month, the government announced that as of 2017, mobile phones can't be sold in India without a panic button. With the press of a single key, the panic button alerts emergency services that assistance is required.

Since a fatal sexual assault three and a half years ago on a bus in New Delhi, accompanied by increased rates of sexual assault, the government has been pressured to help women avoid the dangers of sexual assault. The bus sexual assault three and a half years ago resulted in India-wide protests, and laws regarding sexual assault were overhauled.

According to India's National Crime Records Bureau (NCRB), in 2014 New Delhi reported 1,813 rapes, more than any other Indian city. In more than 80% of rapes across India, the victim knew the rapist. In data from 2013, the rapists in 539 cases were parents, in 2,315 cases other relatives.

In 2012 the NCRB said the country had 24,923 reported rapes. However, this number grew over the following year, with 2013 seeing 33,707 reported.

In 2013, NCRB said New Delhi saw 1,636 rapes reported, with an Indian average of 92 women per day. The New Delhi cases alone account for more than four per day.

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Manchester United sacks van Gaal after winning FA Cup

On Monday, English football club Manchester United sacked their manager Louis van Gaal just two days after his team won the 2015󈝼 FA Cup — the twelfth FA Cup victory for The Red Devils.

File photo of Louis van Gaal
Image: kaʁstn.

	I am very disappointed to be unable to complete our intended three-year plan.
—Louis van Gaal

Appointed as the manager of the club in July 2014, Dutchman van Gaal said "I am very disappointed to be unable to complete our intended three-year plan." This year's FA Cup was Manchester United's first trophy under van Gaal.

Under his managerial, Manchester United landed fourth and fifth in the Premier League table, and this season they missed UEFA Champions League qualification. They had 58.47% possession, the best average in the league, and eighteen cleansheets, but The Red Devils scored only 49 goals in the league, the worst they have done in more than last two decades.

Louis van Gaal was informed by Ed Woodward, Vice-Chariman of Manchester United, that the club would sack him from the managerial position. van Gaal is reportedly to receive about £6million, his annual salary, before leaving for Portugal.

In the FA Cup final versus Crystal Palace, the first half ended in a 0𔂾 draw. In the 78^th minute Jason Puncheon scored for Crystal Palace but minutes later, Juan Mata equalised. The 90-minute mark ended with 1𔂿 on the score board. Chris Smalling received his second yellow card and was sent off minutes before Jesse Lingard scored the winner from a volley in the 110^th minute.

With the FA Cup title, according to Woodward, Louis van Gaal has won a title in four different nations.

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Mats Hummels completes Bayern signing

On Monday, German football club FC Bayern Munich completed the signing of Mats Hummels, the captain of Bayern's rivals Borussia Dortmund. 27-year-old defender Hummels, who was an academy player at Bayern before moving to play for Borussia Dortmund, agreed to a five-year deal.

	I'm looking forward to everything that awaits me at FC Bayern. I'm very excited.
—Mats Hummels

File photo of Mats Hummels.
Image: Michael Kranewitter.

Hummels underwent medical tests on Monday before signing the contract. Bayern's chairman Karl-Heinz Rummenigge said "We're delighted to welcome Mats back to FC Bayern, [...] Not only are we strengthening our squad with a world-class centre-back, but also with a player who accepts responsibility and who is our own youth product. First of all we wish him a successful Euro 2016."^((de))

Hummels joined the Bavarians in 1995 when he was six years old. He played only one Bundesliga match for the Reds before he was loaned to Dortmund and later signed for them. He played his last game for Borussia Dortmund on Saturday in the DFB-Pokal Cup final, which Bayern won 4𔃁 on penalties.

After the signing was completed, he said "Saying goodbye to Dortmund was difficult for me of course. It was similar to 2008, when it was the other way around [...] Now I'm looking forward to everything that awaits me at FC Bayern. I'm very excited."^((de))

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Arsenal signs Mönchengladbach captain Granit Xhaka

Today, London-based football club Arsenal announced signing 23-year-old Swiss midfielder Granit Xhaka from German club Borussia Mönchengladbach. The Swiss international has made 41 appearances for Switzerland and joined the German side from FC Basel, his childhood club, in 2012.

File photo of Granit Xhaka
Image: Fanny Schertzer.

	I cannot wait to move to London, represent this special club and play in the Premier League.
—Granit Xhaka

Xhaka said, "I cannot wait to move to London, represent this special club and play in the Premier League." Xhaka made about 140 appearances for Borussia. He captained Mönchengladbach last season when their side came fourth in the league table and qualified for the UEFA Champions League. He won two Swiss Super League titles with Basel.

Xhaka has passed his medical tests and is to join The Gunners after the Euro 2016 tournament with his contract in force from July 1. "Granit Xhaka is an exciting young player," said Arsenal manager Arsène Wenger, "already with good Champions League and Bundesliga experience." Borussia's sporting director Max Eberl said, "We’re losing a very, very good player, but the agreed transfer fee provides us with the opportunity to make sensible additions to our squad"^((de)).

Xhaka's transfer fee was not disclosed.

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Tax evasion investigators raid Google's Paris headquarters

Dozens of tax investigators raided Google's offices in French capital Paris yesterday as part of a probe into the company's alleged tax evasion.

The raid was conducted by investigators from the state financial prosecutor's office assisted by 25 information technology (IT) experts, according to officials. "The investigation aims to verify whether Google Ireland Ltd has a permanent base in France" the prosecutor's office said, "and if, by not declaring parts of its activities carried out in France, it failed its fiscal obligations[...]".

Google, a subsidiary of Alphabet Inc., reports most of its sales in Ireland. Google claims most sales contracts are closed in its Dublin offices. If investigation finds sales are being concluded in other countries, Google may need to pay additional taxes in these countries.

In 2014 Google reported a total yearly revenue in France of �.4 million with a profit of just 󌌼.2 million, paying only 𔚽 million in corporate tax according to the Financial Times. A Google spokesperson said the company is co-operating with French authorities and fully complies with French law.

According to Reuters, a source from the French finance ministry said French tax authorities are also separately pursuing Google for 𔚹.6 billion in back taxes.

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Victorian premier apologises for history of criminalisation of homosexuality

Victoria, Australia premier Daniel Andrews, speaking in parliament yesterday, apologised for the state's history of 'abominable' laws under which homosexuality could be punished with jail time.

"For decades, we were obsessed with the private mysteries of men. And so we jailed them, we harmed them, and in turn, they harmed themselves", said Andrews.

He noted that while those laws haven't been in force since the 1980s, many still have criminal records because of them. Many are trying to clear their records; so far, six have completed the process.

According to the Australian Human Rights Commission, eleven in 100 Australians identify as being a part of the Lesbian, Gay, Bisexual, Transgender and Intersex community. They have triple the general population's rate of depression, and six in ten admit they have been verbally abused.

Victorian Opposition leader Matthew Guy said earlier, "Australia post-war was a very, very intolerant place towards gay people, particularly gay men, and today we're going to apologise for that."

His apology follows one earlier this year by the New South Wales parliament to the first Sydney Gay and Lesbian Mardi Gras marchers in 1978, that apology led by the member for Coogee, Bruce Notley-Smith.

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DFB-Pokal Final: Bayern wins 4-3 in Der Klassiker final

In the German DFB-Pokal final, on Saturday, Munich-based football club FC Bayern Munich defeated rivals Borussia Dortmund 4𔃁 in a penalty shoot-out decider as the match ended 0𔂾 after 120 minutes at Olympiastadion in Berlin. This marked the third consecutive loss for Dortmund in the German Cup final. This was the eighteenth German Cup win for Bayern and eleventh domestic double.

File photo of Manuel Neuer who saved Bender penalty kick.
Image: Steindy.

	Once you've reached five finals over the course of five years, simply reaching the final is no longer enough!
—Thomas Tuchel, Borussia Dortmund Manager

Bundesliga winners Bayern Munich had 70% ball possession in the game and had seventeen shots while Dortmund hit just nine. With a total of seven yellow cards shown in 120 minutes, 35 fouls were committed.

Dominating Bayern faced a shot from Pierre-Emerick Aubameyang which was saved in the 85th minute. Erik Durm's sliding tackle saved a goal for Robert Lewandowski's shot in the fourth minute of the extra time.

As normal time ended goal-less, the match progressed to additional time. Roman Bürki delayed the Bavarian victory by disallowing Douglas Costa's 113th minute shot as well as David Alaba's shot in the next minute.

In the penalty shootout, Manuel Neuer saved Sven Bender's spot kick, and Sokratis Papastathopoulos missed while Joshua Kimmich failed to score for Munich.

In the end, Munich won the Cup defeating the rivals 4𔃁 in penalties. This match featured Dortmund captain Mats Hummels for the very last time in the yellow jersey as he would be moving to Munich next week.

In a pre-match conference, Thomas Tuchel, Borussia Manager, said, "Once you've reached five finals over the course of five years, simply reaching the final is no longer enough!"^((de))

Dortmund has won the DFB-Pokal three times. Including the 2012, 2014 and 2015 DFB-Pokal finals they have featured in five finals in the last five seasons in various competitions including the 2013 UEFA Champions League Der Klassiker final. This was Pep Guardiola's seventh trophy with Bayern Munich in his three years as the club manager. He won the Bundesliga title each season and he would join Manchester City next season.

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Lord Howard and Alistair Darling address Confederation of British Industry on EU referendum

Lord Howard, the former United Kingdom (UK) Conservative Party leader, and Alistair Darling, the former UK Chancellor of the Exchequer, set out their opposing views regarding the UK's continuing membership of the European Union at the Confederation of British Industry's (CBI) annual dinner on Wednesday.

Logo of the CBI.

The dinner was held as the UK is expected to vote on the matter in next month's EU referendum. Lord Howard encouraged those in attendance to vote for the UK to leave the EU, while Mr Darling was speaking in favour of a vote to remain.

Responding to the CBI calling for the UK to remain in the EU, Lord Howard referred to the organisation's previous calls to become a full member of the European Monetary System and the Euro, saying these calls had been wrong, and suggesting this reduces the credibility of the CBI's current stance. Lord Howard also said if the UK left the EU and didn't replace it with some trade deal, which he described as "inconceivable", then the UK's exports would face EU import tariffs of 2.4% on average. He compared this to the UK's net contribution to the EU's budget, which he said was "equivalent to a seven per cent tariff."

Mr Darling reminded the audience of warnings from Mark Carney, Governor of the Bank of England, and Christine Lagarde, head of the International Monetary Fund, that leaving the EU could lead to a recession in the UK. Mr Darling said this "would be disastrous for working people's life chances and living standards".

The referendum is expected to take place on June 23.

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Sevilla wins third consecutive Europa League title, beating Liverpool 3-1

Yesterday, Spanish football club Sevilla FC defeated English football club Liverpool F.C. in the 2016 UEFA Europa League Final at St. Jakob-Park in Basel, Switzerland. In doing so, Sevilla defended their title and claimed their third consecutive title under manager Unai Emery.

Logo of UEFA Europa League.
Image: UEFA Europa League.

	It was obvious the first goal of Sevilla had a big influence on our own game. In this moment we lost faith in our style of play.
—Jürgen Klopp, Liverpool F.C. Manager

Liverpool started the brighter of the two teams in the opening half. For the match overall they had 72% ball possession and had six shots on target. But, The Reds committed nineteen fouls in the match while the Spanish side committed just nine. Sevilla's goalkeeper David Soria kept Liverpool at bay as he saved shots from Liverpool's Emre Can shortly before the ten-minute mark. Sevilla defender Daniel Carriço cleared a goal-bound effort off the line from Liverpool striker Daniel Sturridge. Sturridge tested Soria a while later, but the goalkeeper blocked successfully. In the 35th minute Sturridge collected a pass from Brazillian Philippe Coutinho and curled the ball with the outside of his left foot to give Liverpool the lead. Liverpool had a chance to extend their lead before the half-time break through Adam Lallana, but Sevilla defender Daniel Carriço blocked his attempt. Liverpool ended the first-half with a 1𔂾 lead.

Sevilla's Kevin Gameiro levelled the score in the 46th minute from Mariano Ferreira's cross. Sevilla took the lead in the 64th minute through their captain, Coke, who shot beyond Liverpool's goalkeeper Simon Mignolet to score. Six minutes later Sevilla extended their lead when Coke pounced on a loose ball in the box to ensure Sevilla claimed their third consecutive UEFA Europa League title.

After the match, Liverpool manager Jürgen Klopp in a press conference said "It was obvious the first goal of Sevilla had a big influence on our own game. In this moment we lost faith in our style of play. We changed from passing simply and quickly to complicated. We lost our formation, so it was not compact anymore".

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Besieged Syrian city of Deir Ezzour suffers multi-day attack

The city of Deir Ezzour in eastern Syria has suffered a multi-day attack with Islamic State (IS) militants launching an offensive on Saturday.

The hotly contested city, located near the border of Iraq, lies on a crucial supply route for Raqqa, an IS stronghold, and is also oil rich and possesses a valuable airbase. Conflict has surrounded the city for two years, with IS fighters besieging about 200,000 Syrians. In recent weeks, conditions have deteriorated further. As it stands, IS forces reportedly control the majority of the city and are seeking to capture it all.

On Tuesday morning a Syrian Arab Army (SAA) spokesperson said the IS lost 200 fighters over three days of assault. The Syrian Arab Army is a branch of Syrian Government military forces.

During the offensive, IS fighters took a hospital west of Deir Ezzour on Saturday. Rami Abdel Rahman, head of the Syrian Observatory for Human Rights (SOHR), said, "IS attacked Al-Assad hospital at the city's western entrance, killing at least 20 soldiers and allied fighters."

File photo of square in Deir Ezzour, 2005.
Image: Heretiq.

The hospital was under IS control for several hours before Syrian Government forces reclaimed it, according to SOHR. Reports through the BBC said more than 20 IS fighters were killed, while activists said medical staff were seized as hostages and IS fighters also killed 35 pro-government fighters.

The UN has been providing food and medicine to the besieged by airdrop, The Washington Post reports. The Russian Defence Ministry said they airdropped 38.5 tonnes of aid to the besieged city.

Local reports claim civilians in outlying towns in the Deir Ezzour Governate suffered casualties on Monday as a result of US Coalition air-raids in Bukumal while IS shells killed a child and injured fourteen others in al-Qusour and al-Joura.

This year is the fifth year of the Syrian conflict which has seen over three million refugees flee Syria and 6.5 million displaced within the Middle-Eastern country as a result of violent clashes from several different Government, rebel and militant groups.

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Telegraph publishes letter from 300 business leaders who back UK leaving EU

A letter from more than 300 business leaders was published on Sunday in The Telegraph in support of the United Kingdom (UK) voting to leave the European Union (EU) in the EU referendum next month.

The signators, writing in a personal capacity, are connected with businesses of small to medium size. This is in contrast to multiple, high-profile, supporters of Britain Stronger in Europe, the official campaign to stay in Europe. This support has included financial donations from companies such as JPMorgan Chase and Citigroup. Those supporting a vote to leave the EU have previously claimed the campaign to remain is only supported by big business.

The Telegraph suggested the letter would be interpreted as a response to last week's warnings from the {{w}International Monetary Fund}} and Bank of England that voting to leave the EU would have negative consequences for Britain's economy. These institutions warned that the UK leaving the EU would increase uncertainty as new trade agreements were negotiated, and cause a fall in the value of the pound sterling. One of the signatories, Lord Farmer, has also stated the EU will still want to trade with the UK, and has "no reason to put up barriers."

The letter's publishing coincides with that of research from Vote Leave stating UK exports to the EU have performed worse over the last fifteen years than any other EU country. Vote Leave argue this shows "the 'single market' has failed British exporters".

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Wikinews interviews Augustus Sol Invictus, Libertarian Party candidate for U.S. Senate

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Islamic State claims attack which killed 25 police recruits in Yemen

Yemeni officials said a suicide bombing today killed at least 25 police recruits in the city of Mukalla, Yemen. Islamic State claimed responsibility.

The attack took place where the recruits were queuing outside a police base. Security forces stated Mubarak al-Awthaban, the city's security director, was nearby in an office but survived the attack.

The Islamic State claimed responsibility for the attack through Amaq, their online news agency. They stated the attacker was a "martyrdom-seeker" who used an explosive belt. They also claimed at least 40 people had been killed.

This is the second recent attack in Mukalla, following the expulsion of their rivals al-Qaeda in the Arabian Peninsula (AQAP) in a campaign by forces from Yemen and a Saudi led coalition. AQAP had taken the city during Yemen's recent civil war, during which time they were able to take control over much of the country's south coast.

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Borussia Dortmund complete signing of 18-year-old Frenchman Ousmane Dembélé

On Thursday, German football club Borussia Dortmund (BVB) confirmed the signing of 18-year-old Frenchman Ousmane Dembélé from French football club Stade Rennais. Dortmund have signed Dembélé on a five-year deal for an undisclosed fee until June 30, 2021.

File photo of Ousmane Dembélé.
Image: S. Plaine.

Dembélé joined the French side in 2010, aged thirteen, and made his professional debut in Ligue 1 last November. He made 25 appearences; scored twelve goals and created five assists. His performances earned him a call-up to the France national U-17 team.

BVB CEO Hans-Joachim Watzke said "He has always given us the impression that he does not wish for anything else other than to play our intensive football for our special club in our unique stadium."^((de))

Dortmund’s Sporting Director Michael Zorc praised Dembélé's skills saying "Ousmane can play nearly every position in attack. He is strong one-on-one, he can play with both feet, he is good at nutmegging and dribbling, and he is fast and dangerous in front of goal."^((de))

The Frenchman would feature in the UEFA Champions League next season. He said "I can hardly wait to play in the Bundesliga in front of more than 80,000 spectators in the Signal Iduna Park and to walk onto the pitch in the Champions League with my new team mates."^((de))

This season, Dembélé won the UNFP trophy for Ligue 1 Young Player of the Year.

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IMF says UK leaving the EU will lead to negative economic consequences

Christine Lagarde, head of the International Monetary Fund (IMF), today said the United Kingdom (UK) voting to leave the European Union (EU) would have negative consequences for the country's economy and the wider financial system.

File photo of Christine Lagarde, 2010.
Image: Marie-Lan Nguyen .

An IMF report released by Lagarde said voting to leave the EU would cause "a protracted period of heightened uncertainty", created by the UK needing to negotiate a withdrawal from the EU. Agreements with 60 other countries who currently have trade agreements with the EU would also need to be reached if the UK was to continue trading with them on the same terms. The IMF has also identified the UK's large current account deficit, the difference imports and exports, as a factor increasing the risks of a vote to leave.

These comments follow similar ones made be Mark Carney, the Governor of the Bank of England, who also warned that leaving the EU could lead to a fall in the value of the pound sterling. The Bank also estimated half of the currency's recent fall in value was caused by the uncertainty created by the referendum.

Vote Leave and Leave.EU, campaigning to leave the EU, responded by pointing out shortcomings in the IMF's previous predictions, such as the effect of the Greek financial crisis. Former UK Chancellor Lord Lamont commented, "There are plenty of respected individual economists, plenty of respected professional investors, and plenty of entrepreneurs who take a very different view from Christine Lagarde".

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