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Ocasio-Cortez, at SXSW, blasts FDR, Reagan and capitalism, says political moderates are 'meh'

U.S. Rep. Alexandria Ocasio-Cortez slammed political moderates at the South by Southwest Conference & Festivals in Austin, Texas, calling their views “misplaced” as she defended her progressive politics in a room full of supporters.

“Moderate is not a stance. It's just an attitude towards life of, like, ‘meh,’” the New York Democrat said Saturday during an interview with Briahna Gray, senior politics editor for the Intercept. “We’ve become so cynical, that we view ‘meh,’ or ‘eh’ — we view cynicism as an intellectually superior attitude, and we view ambition as youthful naivete when ... the greatest things we have ever accomplished as a society have been ambitious acts of visions, and the ‘meh’ is just worshipped now, for what?”

The self-declared Democratic socialist also criticized the treatment of minorities throughout American history, from Franklin Delano Roosevelt's New Deal, which she claimed was racist, to Ronald Reagan's policies, which she said "pitted" white working class people against minorities in order "to screw over all working-class Americans,” particularly African-Americans and Hispanics.

REP. ALEXANDRIA OCASIO-CORTEZ SLAMS FELLOW DEMOCRATS AGAIN OVER 'RACIST AND FALSE' IMMIGRATION TROPES

Rep. Alexandria Ocasio-Cortez, right, D-N.Y., speaks with Briahna Gray, a senior politics editor at the Intercept, during South by Southwest on Saturday, March 9, 2019, in Austin, Texas. (Nick Wagner/Austin American-Statesman via AP)

Rep. Alexandria Ocasio-Cortez, right, D-N.Y., speaks with Briahna Gray, a senior politics editor at the Intercept, during South by Southwest on Saturday, March 9, 2019, in Austin, Texas. (Nick Wagner/Austin American-Statesman via AP)

"So you think about this image of welfare queens and what he was really trying to talk about was ... this like really resentful vision of essentially black women who were doing nothing, that were 'sucks' on our country," she said.

"So you think about this image of welfare queens and what [Reagan] was really trying to talk about was ... this like really resentful vision of essentially black women who were doing nothing, that were 'sucks' on our country."

— U.S. Rep. Alexandria Ocasio-Cortez, D-N.Y.

"And it's this whole tragedy of the commons type of thinking where it's like because ... this one specific group of people, that you are already kind of subconsciously primed to resent, you give them a different reason that's not explicit racism but still rooted in a racist caricature," Ocasio-Cortez continued. "It gives people a logical reason, a 'logical' reason to say, 'Oh yeah, no, toss out the whole social safety net.'"

CAPITOL GRAPPLES WITH COMPLICATED HISTORY ON RACE

Other topics Ocasio-Cortez discussed included the Green New Deal and capitalism, which she said could not be redeemed because it puts profit “above everything else.”

“The most important thing is the concentration of capital, and it means that we prioritize profit and the accumulation of money above all else, and we seek it at any human and environmental cost… But when we talk about ideas like democratic socialism, it means putting democracy and society first, instead of capital first; it doesn’t mean that the actual concept of capitalistic society should be abolished,” she said.

"When we talk about ideas like democratic socialism, it means putting democracy and society first, instead of capital first; it doesn’t mean that the actual concept of capitalistic society should be abolished."

— U.S. Rep. Alexandria Ocasio-Cortez, D-N.Y.

During a Q&A session with the audience, television host and author Bill Nye the Science Guy stepped up to the microphone.

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“I’m a white guy,” Nye said. “I think the problem on both sides is fear. People of my ancestry are afraid to pay for everything as immigrants come into this country. People who work at the diner in Alabama are afraid to ask for what is reasonable. So do you have a plan to work with people in Congress that are afraid? That’s what’s going on with many conservatives especially when it comes to climate change. People are afraid of what happens when we try to make these big changes.”

“One of the keys to dismantling fear is dismantling a zero-sum mentality,” Ocasio-Cortez replied. “It means the rejection outright of the logic that says someone else’s gain necessitates my loss and that my gain must necessitate someone’s loss. We can give without a take. We’re viewing progress as a loss instead of as an investment. When we choose to invest in our system, we are choosing to create wealth. When we all invest in them, then the wealth is for all of us too.”

"When we choose to invest in our system, we are choosing to create wealth. When we all invest ... then the wealth is for all of us."

— U.S. Rep. Alexandria Ocasio-Cortez, D-N.Y.

The nine-day music and media festival has attracted many political figures this year. Several 2020 presidential candidates made appearances Saturday, including Democratic Sens. Amy Klobuchar, of Minnesota and Elizabeth Warren of Massachusetts. Former Starbucks CEO Howard Schultz, who is also considering a presidential bid, also made the pilgrimage.

Ohio's former Republican Gov. John Kasich -- a potential GOP challenger to President Trump -- also spoke at the festival Saturday.

Source: Fox News Politics

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A little love on the campaign trail – Rosario Dawson dating Cory Booker

Democratic 2020 U.S. presidential candidate and U.S. Senator Cory Booker (D-NJ) gives the keynote speech at Brown Chapel AME Church in Selma
Democratic 2020 U.S. presidential candidate and U.S. Senator Cory Booker (D-NJ) gives the keynote speech at Brown Chapel AME Church in Selma, Alabama, U.S. March 3, 2019. REUTERS/Chris Aluka Berry

March 14, 2019

By Steve Gorman

LOS ANGELES (Reuters) – Actress Rosario Dawson, whose film credits include “Rent” and “Men in Black II,” has confirmed reports she is dating U.S. Senator and presidential candidate Cory Booker, calling him “a wonderful human being” who she loves and admires.

Dawson, 39, went public about her relationship with the New Jersey Democrat in an on-camera interview with the celebrity news website TMZ.com as she was strolling through Reagan National Airport near Washington. The video was posted on Thursday.

Asked if there was any truth to recent media reports that she was involved with the 49-year-old bachelor politician, Dawson gamely replied, “Yes, very much so.”

“He’s a wonderful human being. It’s great to spend time together when we can,” she said.

Asked whether an engagement might be on the horizon, she said, “I have no idea. I’m just grateful to be to be with someone that I respect and love and admire so much who is so brilliant and kind and caring and loving.”

The New York Post reported in January that the actress and former Newark, New Jersey, mayor had been seeing each other since at least December 2018.

Neither Booker nor his representatives were immediately available for comment. Asked during a radio interview last month about how his bachelor status might play in the presidential race, Booker said he was “dating somebody now who’s very special.” Questioned whether she would make a “nice first lady,” he replied, “Yes, she would.”

The senator, who gained national prominence in the fight over Supreme Court Justice Brett Kavanaugh’s confirmation, formally launched his presidential campaign on Feb. 1, joining a crowded field of Democrats seeking their party’s nomination for the White House in 2020.

Booker initially won his Senate seat in a 2013 special election, and then was re-elected to a full six-year term in 2014. He became the second African-American to enter the 2020 presidential race, after fellow Democratic Senator Kamala Harris of California.

Dawson, a native New Yorker of Puerto Rican and Cuban ancestry, made her film debut in the 1995 indie drama “Kids.” Her movie credits include two Spike Lee dramas – “He Got Game” and “25th Hour” – “Sin City,” “Josie and the Pussycats” along with “Rent” and “Men in Black II.”

(Reporting by Steve Gorman in Los Angeles; Additional reporting by Lisa Richwine in Los Angeles; Editing by Tom Brown)

Source: OANN

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NHL roundup: Vasilevskiy sets saves mark in OT win over Caps

NHL: Tampa Bay Lightning at Washington Capitals
Mar 20, 2019; Washington, DC, USA; Tampa Bay Lightning defenseman Victor Hedman (77) scores the game winning goal against the Washington Capitals during the overtime period at Capital One Arena. Mandatory Credit: Brad Mills-USA TODAY Sports

March 21, 2019

Victor Hedman scored 3:01 into overtime, and Andrei Vasilevskiy made a franchise-record and career-high 54 saves as the visiting Tampa Bay Lightning beat the Washington Capitals for the second time in five days, 5-4 on Wednesday night.

The old Lightning record for saves was 48, set by Ben Bishop in Jan. 19, 2014, and matched by Vasilevskiy on Dec. 13, 2018. Vasilevskiy was stellar at times, but he allowed Washington’s Evgeny Kuznetsov to tie the game with 52.6 seconds left in regulation.

The Lightning, though, prevailed for their sixth straight win — one game after clinching the Presidents’ Trophy with a victory over the Arizona Coyotes on Monday. Nikita Kucherov, the NHL leader with 119 points, scored twice during Tampa Bay’s four-goal second period.

Despite recording a franchise-high 58 shots, to Tampa Bay’s 28, Washington had its five-game home winning snapped and could not avenge a 6-3 road loss to the Lightning on Saturday.

Maple Leafs 4, Sabres 2

Auston Matthews and John Tavares each scored a goal and added an assist, and visiting Toronto held on to defeat Buffalo.

Mitch Marner and Zach Hyman also scored for the Maple Leafs, who won for only the second time in six games. Garret Sparks made 22 saves for the Maple Leafs, who swept the four-game season series between the teams.

Casey Mittelstadt and Alexander Nylander scored for the Sabres, who have lost eight of their past nine games (1-7-1). Carter Hutton was much busier than his counterpart, stopping 42 of 45 shots in Buffalo’s goal.

Canucks 7, Senators 4

Tanner Pearson and Bo Horvat both scored twice in three-point games while Loui Eriksson collected one goal and three assists as host Vancouver earned its third consecutive win in beating Ottawa.

Goalie Jacob Markstrom needed to make only 21 saves for Vancouver, which is on a 4-0-1 run and four points out of a playoff spot with eight games remaining in the regular season.

Max Veronneau, the prized product of Princeton University who signed with the Senators on March 12, put Ottawa on the board with his first career goal at 8:54 of the final frame. He was playing in his third NHL game. Anders Nilsson stopped 33 shots for Ottawa.

Jets 3, Ducks 0

Mark Scheifele scored an early goal, and goaltender Connor Hellebuyck made 29 saves as visiting Winnipeg earned a victory over Anaheim to get some breathing room atop the Central Division.

Kyle Connor and Nikolaj Ehlers added third-period goals for the Jets (44-25-4, 92 points), who are now three points ahead of the Nashville Predators in the division thanks to their four-game winning streak. The Jets’ magic number for clinching a playoff spot was reduced to five points.

The Jets held off the Ducks despite playing without defensemen Nathan Beaulieu, Dustin Byfuglien and Josh Morrissey. Winnipeg defenseman Joe Morrow did return Wednesday for his first game since Feb. 14 after recovering from a lower-body injury.

–Field Level Media

Source: OANN

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Kazakh capital changes name to honor longtime leader

Kazakhstan has renamed its capital to Nur-Sultan, in honor of the country's longtime leader who resigned this week.

The order to change the city's name from Astana was issued Saturday by interim President Kassym-Jomart Tokayev, who took power after Nursultan Nazarbayev resigned on Tuesday.

Nazarbayev led Kazakhstan for nearly 30 years, first as Communist boss in the last years of the Soviet Union then as president of the independent country.

In 1997, Nazarbayev moved the capital from Almaty, turning a provincial town noted for severe winters into a showcase of modernist architecture, including an observation tower where visitors are invited to touch a handprint of the leader.

Small protests took place in Almaty and other cities after the name change was proposed.

Source: Fox News World

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How Mueller’s decision on obstruction helped save Trump

U.S. President Donald Trump gestures alongside First Lady Melania Trump before departing the White House
U.S. President Donald Trump gestures alongside First Lady Melania Trump before departing the White House on Marine One, after the release of Special Counsel Robert Mueller's report on Russian interference in the 2016 U.S. presidential election, in Washington, U.S., April 18, 2019. REUTERS/Lucas Jackson

April 19, 2019

By Jan Wolfe and Noeleen Walder

WASHINGTON (Reuters) – The U.S. Attorney General decided that President Donald Trump did not obstruct a probe into whether his campaign colluded with Russia, but some legal experts said prosecutors laid out a wealth of evidence to the contrary and that they intended to leave that determination to Congress.

Special Counsel Robert Mueller’s report revealed new details about Trump’s attempts to impede his investigation on Thursday. They included how the president tried to fire Mueller and limit his investigation, kept details of a June 2016 meeting between senior campaign officials and a Russian under wraps, and possibly dangled a pardon to a former adviser.

Democrats said on Thursday the report contained disturbing evidence of wrongdoing by Trump that could fuel congressional investigations.

Some legal experts echoed that view. They said the evidence should have given prosecutors a strong basis for bringing an obstruction case against Trump, but Mueller demurred because a longstanding Department of Justice policy against indicting a sitting president.

Jens Ohlin, a law professor at Cornell University, said the evidence laid out by the Mueller report was “really exhaustive in terms of the number of incidents and how severe they are.”

In his report, Mueller focused on a series of actions, including Trump’s conduct toward law enforcement officials and witnesses. At one point, Mueller says the Congress has powers to check a president. At least half a dozen legal experts said the special counsel intended Congress to take up the matter.

“There is a wink, and a nod, and another wink to Congress that I have a lot of evidence and now the ball is in your court,” said Jessica Levinson, a professor at Loyola Law School in Los Angeles.

House Democrats took that view as well. In a joint statement, the House chairs said “the Special Counsel undoubtedly anticipated” the Congress must assess the evidence.

But Republican Congressman Doug Collins disputed that Mueller intended for Congress to decide on the view.

“The report doesn’t say Congress should investigate obstruction now. It says Congress can make laws about obstruction,” Collins tweeted.

A spokesman for Mueller declined to comment.

Trump’s legal team called the report “a total victory” for the president.

“If they thought they had an obstruction case they would have made it. They did not,” said Jay Sekulow, a lawyer for Trump, in an interview.

It is unclear whether the Democrats will push on Congressional censure. And even if the House votes to impeach, it is highly unlikely the Republican controlled Senate would convict Trump.

Attorney General William Barr, a Trump appointee, defended the president in a press conference Thursday by saying there was insufficient evidence to bring an obstruction case against Trump.

In an earlier letter to lawmakers, Barr said the case was also undermined by Mueller’s finding that the Trump campaign did not conspire with Russians to interfere in the election.

WATERGATE-ERA OPINION

Under U.S. law, it is a crime to attempt “to influence, obstruct or impede the due administration of justice.”

To prove obstruction, prosecutors must show an individual acted with a “corrupt” or improper motive – a specific intent to impede an investigation.

Obstruction of justice is often coupled with some underlying wrongful act that is being covered up, legal experts said.

With a sitting president, the issue takes on additional complications. A Justice department policy dating back to the Watergate scandal in the early 1970s advises against indicting a sitting president.

The U.S. Constitution is silent on the question.

In his report, Mueller said he “accepted” the department’s legal opinion and was unable to come to a conclusion about whether there was enough evidence to charge Trump with obstruction.

QUESTION OF MOTIVE

The president’s actions and intent “presents difficult issues that prevent us from conclusively determining that no criminal conduct occurred,” Mueller wrote.

But Mueller added that his report “also does not exonerate” Trump of the crime.

In reaching his decision not to charge Trump, Barr said the president had been “frustrated and angered” by a belief that the probe was undermining his presidency.

Despite this, Trump did not deprive Mueller of documents and witnesses needed to complete the investigation, Barr said.

“Apart from whether the acts were obstructive, this evidence of non-corrupt motives weights heavily against any allegation that the president had a corrupt intent to obstruct the investigation,” he said.

(Additional reporting by Sarah N. Lynch, Richard Cowan and Karen Freifeld; Editing by Paritosh Bansal and Edward Tobin)

Source: OANN

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Elizabeth Warren described as ‘diehard conservative’ in school

2020 presidential hopeful Sen. Elizabeth Warren, D-Mass., is known for her left-wing views on issues from health care-for-all to taxing the super-wealthy. But a new deep dive into the left-wing firebrand’s past finds that she was known as a “diehard conservative” in school.

Politico reports that, while Warren has acknowledged but downplayed her Republican past in public, a review of her scholarship and interviews with friends reveals that she has a hitherto unexplored “conservative track record” -- mainly on economic policy.

WARREN NOT WORRIED ABOUT POLLS: 'IT'S EARLY...I'M RUNNING THE CAMPAIGN THAT I WANT TO RUN'

“Liz was a diehard conservative in those days. … Now we’ve swapped — a 180-degree turn and an about-face,” Katrina Harry, one of Warren’s high school friends, told the outlet.

“Liz was sometimes surprisingly anti-consumer in her attitude,” law professor Calvin Johnson, a colleague of Warren’s at the University of Texas at Austin in the early 1980s, said of the future senator, who, decades later, would be credited as architect of the Consumer Financial Protection Bureau (CFPB.)

“She’s definitely changed. It’s absolutely clear that something happened,” said Rutgers law professor Gary Francione, another Warren colleague from the 1980s.

Politico reports that Warren first had a political conversion in the '80s when she traveled to bankruptcy courts and saw that Americans filing, far from being irresponsible as she'd imagined, actually resembled her own family.

But she reportedly moved to the left when she was recruited on a federal commission to reform the bankruptcy code in the mid-1990s, before losing that battle in 2005.

WARREN'S $6 MILLION FUNDRAISING HAUL FAR BEHIND SANDERS

“She really did have a ‘Road to Damascus’ conversion when she saw the bankrupt consumers really were suffering -- forced into bankruptcy by illness, firing or divorce—and not predators,” Johnson said.

“I realize nonpartisan just isn’t working,” Warren told Politico. “By then it’s clear: The only allies I have are in the Democratic Party, and it’s not even the majority of Democrats.”

Despite Warren’s conservative past, her left-wing credentials are not in doubt. In addition to supporting radical policies such as the Green New Deal and Medicare-for-all, Warren has distanced herself from the 2020 field by pushing a “wealth tax” for those with more than $50 million in assets.

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"The rich & powerful run Washington. Here’s one benefit they wrote for themselves: After making a killing from the economy they’ve rigged, they don't pay taxes on that accumulated wealth. It’s a system that’s rigged for the top if I ever saw one," she tweeted.

But should Warren secure the 2020 Democratic nomination, she wouldn’t be the only one on the ballot to have switched parties. President Trump donated to Democratic candidates in the past, and was registered as a Democrat between 2001 and 2009.

Source: Fox News Politics

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Britain’s Asda supermarkets to stop selling single kitchen knives

FILE PHOTO: A man walks past branches of ASDA and Sainsbury's in Stockport.
FILE PHOTO: A man walks past branches of ASDA and Sainsbury's in Stockport, Britain April 30, 2018. REUTERS/Phil Noble/File Photo

March 9, 2019

LONDON (Reuters) – Walmart-owned British supermarket chain Asda said it will remove single kitchen knives from sale in all its stores by the end of April.

Britain’s knife-crime rate is soaring and, following a wave of fatal stabbings in recent weeks, many involving teenagers, Prime Minister Theresa May has convened a meeting of ministers and community leaders to discuss ways of tackling the problem.

“We know single knives are the most common knife products to be stolen and that is why we have chosen to remove these items from our stores,” Asda Senior Vice President Nick Jones said in a statement.

It is illegal to sell knives to under-18s in Britain.

(Reporting by John Stonestreet; Editing by Ros Russell)

Source: OANN

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The headquarters of Wirecard AG is seen in Aschheim near Munich
FILE PHOTO: The headquarters of Wirecard AG, an independent provider of outsourcing and white label solutions for electronic payment transactions is seen in Aschheim near Munich, Germany April 25, 2019. REUTERS/Michael Dalder

April 26, 2019

BERLIN (Reuters) – Wulf Matthias will not stand for a second term as Wirecard’s chairman in 2020, German daily Handelsblatt said on Friday, citing sources in the financial industry.

For age reasons alone this would not be an option for Matthias, aged 75, Handelsblatt added.

Matthias will keep his mandate until it ends in 2020, the paper quoted a company spokeswoman as saying.

Wirecard was not immediately available for comment when contacted by Reuters.

(Reporting by Tassilo Hummel; Editing by Thomas Seythal)

Source: OANN

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FILE PHOTO: The Credit Suisse logo is pictured on a bank in Geneva
FILE PHOTO: The Credit Suisse logo is pictured on a bank in Geneva, Switzerland, October 17, 2017. REUTERS/Denis Balibouse/File Photo

April 26, 2019

ZURICH (Reuters) – Shareholders approved Credit Suisse’s 2018 compensation report with an 82 percent majority on Friday, overriding frustrations expressed at its annual general meeting over jumps in executive pay during a year its share price plummeted.

Three shareholder advisers had recommended investors vote against Switzerland’s second-biggest bank’s remuneration report, while a fourth backed the report but expressed reservations about whether management pay matched performance.

The approval marked a slight increase over the 80.8 percent support garnered for the bank’s 2017 compensation report.

(Reporting by Brenna Hughes Neghaiwi; Editing by Michael Shields)

Source: OANN

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FILE PHOTO: Traders work on the trading floor of Barclays Bank at Canary Wharf in London
FILE PHOTO: Traders work on the trading floor of Barclays Bank at Canary Wharf in London, Britain December 7, 2018. REUTERS/Simon Dawson/File Photo

April 26, 2019

By Simon Jessop and Sinead Cruise

LONDON (Reuters) – Activist investor Edward Bramson is likely to fail in his attempt to get a board seat at Barclays’ annual meeting next week, even though shareholders are dissatisfied with performance of the group’s investment bank.

New York-based Bramson’s Sherborne Investors and the board of the British bank have been sparring for months over Barclays’ strategy.

Bramson wants to scale back Barclays’ investment bank to reduce risk and boost shareholder returns. Barclays Chief Executive Jes Staley remains staunchly committed to growing the business out of trouble.

After failing to persuade Staley to change course since he began building a 5.5 percent stake in the bank in March last year, Bramson hopes a board seat will rachet up the pressure.

Both sides have written to shareholders pitching their case and Bramson has courted investors in one-on-one meetings, although none have publicly backed him yet.

Interviews by Reuters with five institutional investors in Barclays suggest Bramson has failed to persuade them.

Sherborne declined to comment.

Mirza Baig, head of investment stewardship at top-40 shareholder Aviva Investors, said Bramson was welcome on the bank’s register but the boardroom was a step too far.

“He has created a lot of value at other businesses, but, generally, when he has come in as executive chair and taken full control. This would be a different case where he would just be one lone voice on the board,” he said.

A second Barclays shareholder said he backed Bramson’s goal of improving returns but via an “evolutionary” approach.

“If you look at banks that have tried to restructure their operations in investment banking – you look at Natwest Markets, Deutsche Bank – I struggle to think of an example where a roughshod restructuring has been accretive to shareholder value.”

A third, top-30 investor said he had been impressed by incoming Chairman Nigel Higgins’ grasp of the challenge in hand, and felt investors would give him time.

“Management know they have to execute and deliver improved returns… [Higgins] will continue to re-shape the board but obviously he didn’t feel that having someone with a diametrically opposed view on it would be helpful.”

A fourth, top-30 investor agreed: “We voted for the chairman to come in and it would be crazy to allow an activist to join the board (at this time).”

Jupiter Fund Management, the 24th largest investor, said it also planned to vote against Bramson.

Barclays has nearly 500 institutional shareholders, Refinitiv data showed.

Since Staley joined Barclays in 2015, the investment bank returns relative to capital invested have increased but are still underperforming the overall business.

Barclays’ first-quarter figures showed the investment bank posted a 6 percent drop in income from its markets business and a 17 percent fall in banking advisory fees.

Returns in the investment bank fell to 9.5 percent from 13.2 percent a year ago.

Famed for successful campaigns against smaller British companies in sectors from chemicals to advertising, Bramson’s board seat pitch has been rebuffed by shareholder advisory firms.

Institutional Shareholder Services, the world’s biggest, said Bramson’s proposal “falls short of what can reasonably be expected from a shareholder trying to address issues at a 28 billion pounds, systemically important bank”.

Glass Lewis also flagged concern about Bramson’s lack of banking experience and “questionable” shareholding structure, referring to Sherborne’s use of derivative contracts to hedge losses should its strategy fail.

Critics said the arrangement meant his interests are not truly aligned with those of other long-term shareholders.

British advisory firm Pirc, however, said it recommended that investors abstain in the vote on Bramson’s proposal as a challenge to the board to do better in the year ahead – or face a similar contest in 2020.

(Editing by Jane Merriman)

Source: OANN

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https://a57.foxnews.com/static.foxnews.com/foxnews.com/content/uploads/2019/04/918/516/02_2.jpg?ve=1&tl=1

After an over 15-month pregnancy, “Akuti,” a 7-year-old Greater One Horned Indian Rhinoceros, gave birth as a result of induced ovulation and artificial insemination at Zoo Miami, April 23, 2019.

Ron Magill/Zoo Miami

https://a57.foxnews.com/static.foxnews.com/foxnews.com/content/uploads/2019/04/918/516/02_2.jpg?ve=1&tl=1

Source: Fox News World

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FILE PHOTO: File photo of a Chevron gas station sign in Del Mar, California
FILE PHOTO: A Chevron gas station sign is seen in Del Mar, California, in this April 25, 2013 file photo. REUTERS/Mike Blake/File Photo

April 26, 2019

(Reuters) – U.S. oil and natural gas producer Chevron Corp reported a 27 percent fall in quarterly earnings on Friday, hit by lower crude prices and weaker margins in its refining and chemicals businesses.

Net income attributable to the company fell to $2.65 billion, or $1.39 per share, for the first quarter ended March 31, from $3.64 billion, or $1.90 per share, a year earlier.

Earlier in the day, larger rival Exxon Mobil Corp reported earnings well below analysts’ estimates, as margins in its refining business were hurt by higher Canadian prices and heavy scheduled maintenance.

(Reporting by Arathy S Nair in Bengaluru; Editing by Saumyadeb Chakrabarty)

Source: OANN

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