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(RNS) — For years, Southern Baptist leaders told members of the nation’s largest Protestant denomination that setting up a database to track abusive pastors was impossible.

Now that impossible task is one step closer to being a reality.

Charleston pastor Marshall Blalock, chair of a Southern Baptist task force charged with implementing abuse reforms, announced Monday (Feb. 20) that the task force had recommended hiring Guidepost Solutions, an international consulting firm, to set up the database. The Southern Baptist Convention’s credentials committee, which works in partnership with the task force, concurred with the recommendation.

The announcement was made during a regular meeting of the SBC’s Nashville-based Executive Committee. Once a contract with Guidepost is finalized, the president of the Executive Committee will be tasked with signing it.

Known as the Ministry Check website, the database will include the names of pastors, denominational workers, ministry employees and volunteers who have been credibly accused of abuse.

According to the task force, being credibly accused means those who confessed, those who have been convicted of abuse or those who have had a civil judgment against them for abuse. It would also include those who have been investigated by a “qualified, independent, third-party investigative firm.”

Blalock said the committee looked at 18 different firms before choosing Guidepost, which previously worked on a major abuse investigation for the SBC. The report from that investigation led the SBC’s 2022 annual meeting to approve a series of reforms — including the Ministry Check website.

Before announcing the selection of Guidepost, Blalock made an impassioned plea about the necessity of abuse reform, saying action and not words were needed. He also condemned those who covered up abuse in order to avoid public controversy.

“Handling things quietly has often been the practice, but it only perpetuates the abuse, leaving victim after victim silently suffering,” he said. “Churches are often well-intentioned. Even some of the worst mistakes our churches have made have been well-meaning actions that did more harm than good.” RELATED: Southern Baptists passed abuse reforms last year. Now they have to make them stick.

Making reforms like the Ministry Check database a reality will be costly and complicated, said Blalock. But it is necessary.

“We can’t let threats of lawsuits stop needed reforms,” he said. “We can’t let the potential costs stop needed reforms. We can’t let uninformed opinions, even well-meaning but uninformed opinions, stop reforms. We can’t let speculation and misinformation stop reform.”

Hiring Guidepost to run the Ministry Check website could reignite a smoldering conflict over the denomination’s future. In recent years, leaders of a group known as the Conservative Baptist Network, along with some of their allies, have claimed the SBC has become too liberal and strayed from its biblical roots. 

Among those allies is Florida pastor and failed SBC presidential candidate Tom Ascol, who has been critical of Guidepost in the past because the consulting firm supports LGBTQ rights. Last year, several state Baptist conventions cut ties with the consulting firm after a Guidepost staffer posted a pro-LGBTQ message during Pride Month. Ascol also believes local churches, not the denomination, should deal with issues of abuse.

Ascol called Blalock’s announcement “madness” on social media and asked pastors to call the  Executive Committee to protest.

“Otherwise,” he said on Twitter, “prepare to explain to the members of your church that their offerings will be going to a ‘proud ally’ of those committed to the sexual perversion of our society.

Mike Stone, a Georgia pastor and former CBN-backed candidate who narrowly lost the 2021 SBC presidential election, also was critical of the announcement.  The chair of the task force seems to think the problem is that Guidepost tweeted their ungodly corporate values, therefore the solution is, theyve stopped tweeting about their support for a radical LGBTQ agenda.

No sir, Mr. Chairman. Youve missed it by a country mile. pic.twitter.com/8JtXgYliO7

— Mike Stone (@PastorMikeStone) February 21, 2023

Blalock said Guidepost’s pro-LGBTQ tweet from 2022 was “disappointing.” But he said Guidepost was still the best-qualified firm to run the Ministry Check website. He also said the database will be overseen by a new division of Guidepost that works specifically with faith-based groups.

He said the head of the faith-based division, senior managing director Samantha Kilpatrick, has a master’s degree from an SBC seminary and is a member of an SBC church.

“She is godly, capable and trustworthy,” he said. “I could not be more grateful that she is willing and available to come alongside us in this process.”

Kilpatrick was named head of the Guidepost faith-based division in November. 

“With Samantha’s extensive legal background and involvement in her own community faith-based organizations, she is well-positioned to lead our Faith-Based Organizations practice,” Julie Myers Wood, CEO of Guidepost Solutions, said in a statement at the time. “Guidepost Solutions is committed to working with faith-based communities and frameworks to conduct independent investigations and enhance compliance.”

After Blalock’s report, the Executive Committee heard from SBC President Bart Barber as well as Executive Committee interim President Willie McLaurin. A search committee looking for a new Executive Committee president had hoped to bring a recommendation to the meeting but announced it was not able to do that. 

The meeting concluded with prayers for the victims of recent earthquakes in Turkey and Syria as well as for former United States President Jimmy Carter. A longtime Baptist Sunday school teacher, Carter went into hospice care recently.

“We want to pray for President Carter and his family as he has been placed on hospice and as he is taking his last breath,” said Executive Committee Chairman Jared Wellman in his closing prayer. “Lord, we pray for him not to be in any pain. We pray for his family as they stand beside him.” RELATED: Todd Benkert leaves SBC abuse task force after conflict over pastor’s restoration Share Tweet Share

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Entertainment

New Universal theme park set to open in UK – with promise of ‘billions’ of pounds for the economy

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New Universal theme park set to open in UK  - with promise of 'billions' of pounds for the economy

A deal for a new Universal theme park in Bedfordshire has been confirmed, which Rachel Reeves says will bring “billions” to the economy and create thousands of jobs.

It will be the first Universal-branded theme park and resort in Europe and is set to open in 2031, when it is expected to become the UK’s most popular visitor attraction.

The government said it will bring an estimated £50bn into the British economy and will create about 28,000 jobs – nearly 20,000 during the construction phase, and 8,000 more in hospitality and the creative industries when it opens.

A 500-room hotel and a retail and entertainment complex is planned alongside the theme park, which will be built on a former brickworks.

Universal, which is owned by Sky News’ US parent company Comcast, expects the 476-acre site just south of Bedford to generate nearly £50bn for the economy by 2055, with 8.5m visitors in its first year.

The plan remains subject to a formal planning decision process from the Ministry of Housing, Communities and Local Government.

Universal has committed to working with local colleges and universities to train students for hospitality jobs.

There are Universal theme parks in Florida (pictured), California, Japan, Beijing and Singapore. Pic: AP
Image:
There are Universal theme parks in Florida (pictured), California, Japan, Beijing and Singapore. Pic: AP

Among some of the famous Universal films are Wicked, Minions, Oppenheimer, Bridget Jones, Fast and the Furious, and Jurassic World.

There are five Universal theme parks already: Orlando in Florida, Hollywood, Japan, Beijing, and Singapore.

The new Universal theme park will be just south of Bedford
Image:
The new Universal theme park will be just south of Bedford

Speaking to Wilfred Frost on Sky News Breakfast, Culture Secretary Lisa Nandy said the deal was “huge”.

“This is not just about numbers on the spreadsheet,” she said.

“This is about good jobs. It’s about growth. It’s about raising people’s living standards and putting money in people’s pockets. And it’s a massive vote of confidence in the United Kingdom.”

Welcoming the timing of the announcement, Ms Nandy added: “This deal comes off the back of one of the most tumultuous few weeks in global markets that I think anyone can remember within living memory.”

She said the fact that the government had been able to show it kept a “cool head” and “we don’t take knee-jerk decisions in response to global events” was one of the reasons it was able to announce the deal.

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A deal for a new Universal theme park in Bedfordshire has been confirmed
Image:
The proposals to transform the site, a former brickworks, remain subject to a formal planning decision process

The government has said about 80% of employees at the theme park are expected to come from local areas, and it will support the “Oxford-Cambridge corridor” revived by the chancellor in January after the Conservatives scrapped plans for an Abingdon-Milton Keynes train link in 2021.

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Chancellor responds to tariffs: ‘We’ve got your backs’

It will also commit to a “major investment” in infrastructure around the Universal site to ensure it is well-connected and easily accessible.

The announcement comes days after the government approved an expansion of nearby Luton Airport.

Mike Cavanagh, President of Comcast Corporation, said: “We could not be more excited to take this very important step in our plan to create and deliver an incredible Universal theme park and resort in the heart of the United Kingdom, which complements our growing US-based parks business by expanding our global footprint to Europe.

“We appreciate the leadership and support of Prime Minister Keir Starmer, Chancellor Rachel Reeves, Minister for Investment Poppy Gustafsson, Culture Secretary Lisa Nandy and their teams, as we work together to create and deliver a fantastic new landmark destination.”

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Politics

Bitcoin ETFs lose $326M amid ‘evolving’ dynamic with TradFi markets

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Bitcoin ETFs lose 6M amid ‘evolving’ dynamic with TradFi markets

Bitcoin ETFs lose 6M amid ‘evolving’ dynamic with TradFi markets

The evolving relationship between Bitcoin and traditional financial markets is under renewed pressure as global investors flee risk assets amid intensifying US trade tensions.

US-listed spot Bitcoin (BTC) exchange-traded funds (ETFs) recorded their fourth consecutive day of outflows on April 8, with more than $326 million in net redemptions across products, according to data from Farside Investors.

BlackRock’s iShares Bitcoin Trust ETF (IBIT) saw the largest sell-off of over $252 million, its biggest daily outflow since Feb. 26.

Bitcoin ETFs lose $326M amid ‘evolving’ dynamic with TradFi markets

Bitcoin ETF flows, US dollars, millions. Source: Farside Investors

The selling pressure follows US President Donald Trump’s April 2 announcement of sweeping reciprocal import tariffs, which triggered a historic $5 trillion wipeout in the S&P 500 over two days.

Related: Bitcoin may rival gold as inflation hedge over next decade — Adam Back

The delayed crypto market turbulence after the tariff-related sell-off in traditional markets highlights Bitcoin’s “evolving relationship with traditional markets,” according to Lennix Lai, global chief commercial officer at OKX exchange.

Lai told Cointelegraph:

“While falling 26% since January’s inauguration, Bitcoin’s relative resilience in the first two days following the tariff announcement — dropping 6% compared to Nasdaq’s 11% decline — suggests a nuanced dynamic emerging between crypto and conventional assets.”

Bitcoin initially remained firmly above the $82,000 support level but plummeted below $75,000 on Sunday, April 6.

Bitcoin ETFs lose $326M amid ‘evolving’ dynamic with TradFi markets

BTC/USD, 1-year chart. Source: Cointelegraph Markets Pro

Some industry leaders attributed Sunday’s sell-off to Bitcoin’s 24/7 liquidity mechanics, which made BTC the only large liquid asset available for de-risking over the weekend.

Related: Bitcoin price can hit $250K in 2025 if Fed shifts to QE: Arthur Hayes

Bitcoin remains tied to global liquidity conditions

While there is an “encouraging sign” of a weakening correlation between Bitcoin and equities, Bitcoin’s price trajectory remains tied to global liquidity conditions, Lai said, adding:

“Though I see early signs of divergence, I believe Bitcoin remains fundamentally tied to global liquidity conditions, warranting caution amid potential market stresses — whilst gold remains as a hedge against geopolitical instability.”

“What’s most significant here isn’t just price action but Bitcoin’s growing conceptual influence — people increasingly view it as a valid strategic reserve asset for diversification in chaotic traditional markets,” Lai added.

Other analysts also see the growing money supply as Bitcoin’s main catalyst.

“Bitcoin trades solely based on the market expectation for the future supply of fiat,” according to Arthur Hayes, co-founder of BitMEX and chief investment officer of Maelstrom.

Magazine: Bitcoin ATH sooner than expected? XRP may drop 40%, and more: Hodler’s Digest, March 23 – 29

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Environment

The oil-rich Gulf states are better-positioned to weather the tariff storm — but crashing crude prices could spell trouble

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The oil-rich Gulf states are better-positioned to weather the tariff storm — but crashing crude prices could spell trouble

U.S. President Donald Trump with Mohammed bin Salman, crown prince of Saudi Arabia, at the start of the Group of 20 summit on 28 June 2019.

Bernd von Jutrczenka | picture alliance | Getty Images

DUBAI, United Arab Emirates — The wealthy Arab Gulf states are in a better position than many other regions of the world to manage the economic impact of U.S. President Donald Trump’s tariffs, economists and regional investors say. But a shaky outlook for the price of oil could put some countries’ budgets and spending projects at risk.

Saudi Arabia, the United Arab Emirates, Bahrain, Kuwait, Oman, and Qatar make up the Gulf Cooperation Council. Together, they comprise around $3.2 trillion in sovereign financial assets, accounting for 33% of the total sovereign assets worldwide, according to GCC Secretary-General Jasem Mohamed Albudaiwi. 

The GCC also holds approximately 32.6% of the world’s proven crude oil reserves, according to the Statistical Center of the Cooperation Council for the Arab States of the Gulf.

That makes it both an asset for the Trump administration as well as vulnerable to its policies, as Trump has long pushed for OPEC, the oil producer alliance led by Saudi Arabia, to pump more oil to help lower oil prices and offset inflation in the U.S. 

A lower oil price, however, can significantly impact the budget deficits and spending plans for those countries, whose economies — despite diversification efforts — still rely heavily on hydrocarbon revenues.  

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“I think we’re all going to be swept into the maelstrom over the next short period of time. That’s inevitable. But the Middle East, with the balance sheet strength that they have, with the energy support that they still have, providing funding on a near ongoing basis … for me, the Middle East — maybe not today, but over time — should be a relative winner within that mix” when it comes to emerging markets, Powell said.

In considering what the firsthand impact of tariffs might be, Monica Malik, chief economist at Abu Dhabi Commercial Bank, noted that the U.S. is not a major export market for the Gulf.

“The GCC should be in a relatively favourable position to withstand headwinds, especially the UAE,” she wrote in a report for the bank on Friday. 

While the region faces the blanket 10% universal tariff as well as previously imposed tariffs on all foreign steel and aluminum — products that the UAE and Bahrain both export — “we expect the direct impact to be relatively contained, as the US is not a key destination for Gulf exports, averaging just c.3.7% of the GCC’s total exports in 2024,” she said.

Threat to spending plans

Crude and copper have a lot of room to move lower, says Citi's Max Layton

Saudi Arabia needs oil at more than $90 a barrel to balance its budget, the International Monetary Fund estimates. Goldman Sachs this week lowered its oil price forecast for 2026 to $58 for Brent and $55 for U.S. benchmark WTI crude. That’s a significant move lower from its forecast just last Friday of $62 for Brent and $59 for WTI in 2026.

“A weaker global demand and greater supply adds downside risk to our Brent forecast for 2025, though we wait for more market clarity before making any changes,” ADCB’s Malik told CNBC on Monday. OPEC+ is meant to increase oil production levels again in May, and she predicts the group will pause that plan if crude prices stay where they are or fall further. 

“Our greatest concern would be a sharp and sustained oil price fall, which would require a reassessment of spending plans – government and off budget – including capex, while also potentially affecting banking sector liquidity and wider confidence,” Malik warned.

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