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Too many travelers, too few planes is U.S. airlines’ 737 MAX summer dilemma

FILE PHOTO: Employees walk by the end of a 737 Max aircraft at the Boeing factory in Renton
FILE PHOTO: Employees walk by the end of a 737 Max aircraft at the Boeing factory in Renton, Washington, U.S., March 27, 2019. REUTERS/Lindsey Wasson/File Photo

April 14, 2019

By Tracy Rucinski

CHICAGO (Reuters) – Normally U.S. airlines compete to sell tickets and fill seats during the peak summer travel season. But operators of the grounded Boeing 737 MAX are facing a different problem: scarce planes and booming demand.

The grounding of Boeing Co’s fuel-efficient, single-aisle workhorse after two fatal crashes is biting into U.S. airlines’ Northern Hemisphere spring and summer schedules, threatening to disarm them in their seasonal war for profits.

“The revenue is right in front of them. They can see it, but they can’t meet it,” said Mike Trevino, spokesman for Southwest Airlines Pilots Association and an aviation industry veteran.

Southwest Airlines Co, the world’s largest MAX operator, and American Airlines Group Inc with 34 and 24 MAX jetliners respectively, have removed the aircraft from their flying schedules into August.

Southwest’s decision will lead to 160 cancellations of some 4,200 daily flights between June 8 and Aug. 5, while American’s removal through Aug. 19 means about 115 daily cancellations, or 1.5 percent of its summer flying schedule each day.

Low-cost carrier Southwest, which unlike its rivals only flies Boeing 737s, had estimated $150 million in lost revenue between Feb. 20 and March 31 alone due to MAX cancellations and other factors.

So far airlines have said it is too soon to estimate the impact of the MAX grounding beyond the first quarter, but the extended cancellations signal that they do not expect a quick return of Boeing’s fast-selling jetliner. The 737 MAX was grounded worldwide in March following a fatal Ethiopian Airlines crash just five months after a Lion Air crash in Indonesia. All on board both planes were killed.

Boeing is under pressure to deliver an upgrade on software that is under scrutiny in both crashes and convince global regulators that the plane is safe to fly again, a process expected to take at least 90 days.

The timing of a prolonged grounding could not be worse for Northern Hemisphere carriers. Planes run fullest during June, July and August, when airlines earn the most revenue per available seat mile, according to U.S. Bureau of Transportation Statistics.

In a letter to employees and customers on Sunday, American Airlines’ top executives said they believed the MAX would be recertified “soon” but wanted to provide their customers reliability and confidence during “the busiest travel period of the year.”

American was cancelling about 90 flights per day through early June, but runs more flights and has less fleet flexibility in the peak summer travel months.

“We’re not denying that it’s going to be a challenge for us,” American spokesman Ross Feinstein said. “That is why if we have to extend cancellations based on aircraft availability we will do so as far in advance as possible.”

A decline in seat capacity could mean higher last-minute summer fares, particularly for business class travelers, aviation consultants and analysts said.

United Airlines, with 14 MAX jets, has largely avoided cancellations by servicing MAX routes with larger 777 or 787 aircraft, but the airline president, Scott Kirby, warned last week that the strategy was costing it money and could not go on forever.

Overall the MAX represents just 5 percent of Southwest’s total fleet and even less for American and United, but the strain on fleets increases as additional MAX deliveries remain frozen.

Southwest has 41 MAX jets pending delivery for 2019, while American has 16 and United 14.

To compensate, global MAX operators have added a flight or two to other aircrafts’ daily schedules and deferred some non-essential maintenance work. Some airlines are also weighing extending aircraft leases and bringing back idled planes, but with unclear MAX timing, no option is clear-cut or cheap, consultants said.

United is due to publish first-quarter results on April 16, followed by Southwest on April 25 and American on April 26.

(Reporting by Tracy Rucinski; Editing by Chris Sanders and Susan Thomas)

Source: OANN

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Ex-mayor’s son, 18, arrested in violent attack on autistic man: reports

The 18-year-old son of a former Southern California mayor was arrested Thursday in connection with a violent attack on an autistic man that was captured on video last month, authorities said.

Declan Bell-Wilson, of Rolling Hills, the son of former Rolling Hills Mayor Patrick Wilson, was taken into custody on suspicion of, assault, robbery and conspiracy, KABC-TV of Los Angeles reported.

An alleged accomplice, identified as Korey Streeter, 18, of Palos Verdes Estates, also was arrested, the report said.

ATTORNEYS: DODGER STADIUM ATTACK SIMILAR TO 2011 ASSAULT

A video of the attack was shot March 22 inside a parking garage at the Promenade on the Peninsula shopping mall in Rolling Hills Estates. The footage shows two assailants beating a man as he lay on the ground before stealing items from his pockets.

One suspect is seen smiling at the camera after pummeling the victim. A voice on the video is heard repeatedly saying "Oh my God" as the victim is punched and kicked.

A second video later obtained by detectives shows the victim shirtless, being ordered to strip to his underwear, KCAL-TV of Los Angeles reported.

Several onlookers were present and were heard mocking the victim, the Los Angeles County Sheriff’s Department said.

"Despite the presence of witnesses around them, the suspects did not stop their attack; they mocked the victim and made light of the shocking incident," a department spokesperson told Patch. "A second recording of the incident depicted the victim standing shirtless, being ordered to strip down to his underwear in front of others."

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The man suffered several bruises and scrapes and had two cellphones stolen from him, the department said. Authorities became aware of the alleged attack days later after video of the beating was posted to social media.

The victim told investigators the beating was over a girl, the news station reported. He never reported the alleged attack or told his parents, sheriff's officials said.

Wilson and Streeter were being held on $80,000 bail. Several juveniles present at the time of the alleged assault were identified and detained. Mayor Wilson did not immediately respond Friday night to a Fox News request for comment.

Rolling Hills is a city of about 1,800 residents, about 27 miles south of Los Angeles.

Source: Fox News National

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READ: Trump’s answers to Mueller’s written questions

Below are President Trump's answers to Special Counsel Robert Mueller's written questions, detailed in the redacted version of Mueller's report released Thursday.

___

I. JUNE 9, 2016 MEETING AT TRUMP TOWER

SPECIAL COUNSEL'S OFFICE:

a. When did you first learn that Donald Trump Jr., Paul Manafort, or Jared Kushner was considering participating in a meeting in June 2016 concerning potentially negative information about Hillary Clinton? Describe who you learned the information from and the substance of the discussion.

b. Attached to this document as Exhibit A is a series of emails from June 2016 between, among others, Donald Trump Jr. and Rob Goldstone. In addition to the emails reflected in Exhibit A, Donald Trump Jr. had other communications with Rob Goldstone and Emin Agalarov between June 3, 2016, and June 9, 2016.

i. Did Mr. Trump Jr. or anyone else tell you about or show you any of these communications? If yes, describe who discussed the communications with you, when, and the substance of the discussion(s).

ii. When did you first see or learn about all or any part of the emails reflected in Exhibit A?

iii. When did you first learn that the proposed meeting involved or was described as being part of Russia and its government's support for your candidacy?

iv. Did you suggest to or direct anyone not to discuss or release publicly all or any portion of the emails reflected in Exhibit A? If yes, describe who you communicated with, when, the substance of the communication(s), and why you took that action.

c. On June 9, 2016, Donald Trump Jr., Paul Manafort, and Jared Kushner attended a meeting at Trump Tower with several individuals, including a Russian lawyer, Natalia Veselnitskaya (the "June 9 meeting").

Special Counsel Robert Mueller's redacted report that includes written answers from President Donald Trump as released on Thursday, April 18, 2019, is photographed in Washington. (AP Photo/Jon Elswick)

Special Counsel Robert Mueller's redacted report that includes written answers from President Donald Trump as released on Thursday, April 18, 2019, is photographed in Washington. (AP Photo/Jon Elswick)

i. Other than as set forth in your answers to I.a and I.b, what, if anything, were you told about the possibility of this meeting taking place, or the scheduling of such a meeting? Describe who you discussed this with, when, and what you were informed about the meeting.

ii. When did you learn that some of the individuals attending the June 9 meeting were Russian or had any affiliation with any part of the Russian government? Describe who you learned this information from and the substance of the discussion(s).

iii. What were you told about what was discussed at the June 9 meeting? Describe each conversation in which you were told about what was discussed at the meeting, who the conversation was with, when it occurred, and the substance of the statements they made about the meeting.

iv. Were you told that the June 9 meeting was about, in whole or in part, adoption and/or the Magnitsky Act? If yes, describe who you had that discussion with, when, and the substance of the discussion.

PRESIDENT DONALD TRUMP:

Response to Question l, Parts (a) through (c): I have no recollection of learning at the time that Donald Trump Jr., Paul Manafort, or Jared Kushner was considering participating in a meeting in June 2016 concerning potentially negative information about Hillary Clinton. Nor do I recall learning during the campaign that the June 9, 2016 meeting had taken place, that the referenced emails existed, or that Donald J. Trump Jr., had other communications with Emin Agalarov or Robert Goldstone between June 3, 2016 and June 9, 2016.

SPECIAL COUNSEL'S OFFICE:

d. For the period June 6, 2016 through June 9, 2016, for what portion of each day were you in Trump Tower?

i. Did you speak or meet with Donald Trump Jr., Paul Manafort, or Jared Kushner on June 9, 2016? If yes, did any portion of any of those conversations or meetings include any reference to any aspect of the June 9 meeting? If yes, describe who you spoke with and the substance of the conversation.

Attorney General William Barr leaves his home in McLean, Va., on Wednesday morning, April 17, 2019. Special counsel Robert Mueller's redacted report on Russian interference in the 2016 election is expected to be released publicly on Thursday and has said he is redacting four types of information from the report. Congressional Democrats are demanding to see the whole document and its evidence. (AP Photo/Sait Serkan Gurbuz)

Attorney General William Barr leaves his home in McLean, Va., on Wednesday morning, April 17, 2019. Special counsel Robert Mueller's redacted report on Russian interference in the 2016 election is expected to be released publicly on Thursday and has said he is redacting four types of information from the report. Congressional Democrats are demanding to see the whole document and its evidence. (AP Photo/Sait Serkan Gurbuz)

TRUMP:

Response to Question I, Part (d): I have no independent recollection of what portion of these four days in June of 2016 I spent in Trump Tower. This was one of many busy months during a fast-paced campaign, as the primary season was ending and we were preparing for the general election campaign.

I am now aware that my Campaign's calendar indicates that I was in New York City from June 6-9, 2016. Calendars kept in my Trump Tower office reflect that I had various calls and meetings scheduled for each of these days. While those calls and meetings may or may not actually have taken place, they do indicate that I was in Trump Tower during a portion of each of these working days, and I have no reason to doubt that I was. When I was in New York City, I stayed at my Trump Tower apartment.

My Trump Organization desk calendar also reflects that I was outside Trump Tower during portions of these days. The June 7, 2016 calendar indicates I was scheduled to leave Trump Tower in the early evening for Westchester where I gave remarks after winning the California, New Jersey, New Mexico, Montana, and South Dakota Republican primaries held that day. The June 8, 2016 calendar indicates a scheduled departure in late afternoon to attend a ceremony at my son's school. The June 9, 2016 calendar indicates I was scheduled to attend midday meetings and a fundraising luncheon at the Four Seasons Hotel. At this point, I do not remember on what dales these events occurred, but I do not currently have a reason to doubt that they took place as scheduled on my calendar.

Widely available media reports, including television footage, also shed light on my activities during these days. For example, I am aware that my June 7, 2016 victory remarks at the Trump National Golf Club in Briarcliff Manor, New York, were recorded and published by the media. I remember winning those primaries and generally recall delivering remarks that evening.

At this point in time, I do not remember whether I spoke or met with Donald Trump Jr., Paul Manafort, or Jared Kushner on June 9, 2016. My desk calendar indicates I was scheduled to meet with Paul Manafort on the morning of June 9, but I do not recall if that meeting took place. It was more than two years ago, at a time when I had many calls and interactions daily.

SPECIAL COUNSEL'S OFFICE:

e. Did you communicate directly or indirectly with any member or representative of the Agalarov family after June 3, 2016? If yes, describe who you spoke with, when, and the substance of the communication.

TRUMP:

Response to Question I, Part (e): I have no independent recollection of any communications I had with the Agalarov family or anyone I understood to be a representative of the Agalarov family after June 3, 2016 and before the end of the campaign. While preparing to respond to these questions, I have become aware of written communications with the Agalarovs during the campaign that were sent, received, and largely authored by my staff and which I understand have already been produced to you.

In general, the documents include congratulatory letters on my campaign victories, emails about a painting Emin and Aras Agalarov arranged to have delivered to Trump Tower as a birthday present, and emails regarding delivery of a book written by Aras Agalarov. The documents reflect that the deliveries were screened by the Secret Service.

Special Counsel Robert Mueller exits St. John's Episcopal Church after attending services, across from the White House, in Washington, Sunday, March 24, 2019. Mueller closed his long and contentious Russia investigation with no new charges, ending the probe that has cast a dark shadow over Donald Trump's presidency. (AP Photo/Cliff Owen)

Special Counsel Robert Mueller exits St. John's Episcopal Church after attending services, across from the White House, in Washington, Sunday, March 24, 2019. Mueller closed his long and contentious Russia investigation with no new charges, ending the probe that has cast a dark shadow over Donald Trump's presidency. (AP Photo/Cliff Owen)

SPECIAL COUNSEL'S OFFICE:

f. Did you learn of any communications between Donald Trump Jr., Paul Manafort, or Jared Kushner and any member or representative of the Agalarov family, Natalia Veselnitskaya, Rob Goldstone, or any Russian official or contact that took place after June 9, 2016 and concerned the June 9 meeting or efforts by Russia to assist the campaign? If yes, describe who you learned this information from, when, and the substance of what you learned.

TRUMP:

Response to Question I, Part (f): I do not recall being aware during the campaign of communications between Donald Trump Jr., Paul Manafort, or Jared Kushner and any member or representative of the Agalarov family, Robert Goldstone, Natalia Veselnitskaya (whose name I was not familiar with), or anyone I understood to be a Russian official.

SPECIAL COUNSEL'S OFFICE:

g. On June 7, 2016, you gave a speech in which you said, in part, "I am going to give a major speech on probably Monday of next week and we're going to be discussing all of the things that have taken place with the Clintons."

i. Why did you make that statement?

ii. What information did you plan to share with respect to the Clintons?

iii. What did you believe the source(s) of that information would be?

iv. Did you expect any of the information to have come from the June 9 meeting?

v. Did anyone help draft the speech that you were referring to? If so, who?

vi. Why did you ultimately not give the speech you referenced on June 7, 2016?

TRUMP:

Response to Question I, Part (g): In remarks I delivered the night I won the California, New Jersey, New Mexico, Montana, and South Dakota Republican primaries, I said, "I am going to give a major speech on probably Monday of next week and we're going to be discussing all of the things that have taken place with the Clintons." In general, l expected to give a speech referencing the publicly available, negative information about the Clintons, including, for example, Mrs. Clinton's failed policies, the Clintons' use of the State Department to further their interests and the interests of the Clinton Foundation, Mrs. Clinton's improper use of a private server for State Department business, the destruction of 33,000 emails on that server, and Mrs. Clinton's temperamental unsuitability for the office of President.

In the course of preparing to respond to your questions, I have become aware that the Campaign documents already produced to you reflect the drafting, evolution, and sources of information for the speech I expected to give "probably" on the Monday following my June 7, 2016 comments. These documents generally show that the text of the speech was initially drafted by Campaign staff with input from various outside advisors and was based on publicly available material, including, in particular, information from the book Clinton Cash by Peter Schweizer.

The Pulse Nightclub terrorist attack took place in the early morning hours of Sunday, June 12, 2016. In light of that tragedy, I gave a speech directed more specifically to national security and terrorism than to the Clintons. That speech was delivered at the Saint Anselm College Institute of Politics in Manchester, New Hampshire, and, as reported, opened with the following:

"This was going to be a speech on Hillary Clinton and how bad a President, especially in these times of Radical Islamic Terrorism, she would be. Even her former Secret Service Agent, who has seen her under pressure and in times of stress, has stated that she lacks the temperament and integrity to be president. There will be plenty of opportunity to discuss these important issues at a later time, and I will deliver that speech soon. But today there is only one thing to discuss: the growing threat of terrorism inside of our borders."

I continued to speak about Mrs. Clinton's failings throughout the campaign, using the information prepared for inclusion in the speech to which I referred on June 7, 2016.

SPECIAL COUNSEL'S OFFICE:

h. Did any person or entity inform you during the campaign that Vladimir Putin or the Russian government supported your candidacy or opposed the candidacy of Hillary Clinton? If yes, describe the source(s) of the information, when you were informed, and the content of such discussion(s).

TRUMP:

Response to Question I, Part (h): I have no recollection of being told during the campaign that Vladimir Putin or the Russian government "supported" my candidacy or "opposed" the candidacy of Hillary Clinton. However, I was aware of some reports indicating that President Putin had made complimentary statements about me.

SPECIAL COUNSEL'S OFFICE:

i. Did any person or entity inform you during the campaign that any foreign government or foreign leader, other than Russia or Vladimir Putin, had provided, wished to provide, or offered to provide tangible support to your campaign, including by way of offering to provide negative information on Hillary Clinton? If yes, describe the source(s) of the information, when you were informed, and the content of such discussion(s).

TRUMP:

Response to Question I, Part (i): I have no recollection of being told during the campaign that any foreign government or foreign leader had provided, wished to provide, or offered to provide tangible support to my campaign.

FILE - In this May 23, 2018, file photo, Paul Manafort, President Donald Trump's former campaign chairman, leaves the Federal District Court after a hearing in Washington. Manafort faces his second sentencing hearing in his many weeks, with a judge expected to tack on additional prison time beyond the roughly four-year punishment he has already received. (AP Photo/Jose Luis Magana, File)

FILE - In this May 23, 2018, file photo, Paul Manafort, President Donald Trump's former campaign chairman, leaves the Federal District Court after a hearing in Washington. Manafort faces his second sentencing hearing in his many weeks, with a judge expected to tack on additional prison time beyond the roughly four-year punishment he has already received. (AP Photo/Jose Luis Magana, File)

___

II. RUSSIAN HACKING/RUSSIAN EFFORTS USING SOCIAL MEDIA/WIKILEAKS

SPECIAL COUNSEL'S OFFICE:

a. On June 14, 2016, it was publicly reported that computer hackers had penetrated the computer network of the Democratic National Committee (DNC) and that Russian intelligence was behind the unauthorized access, or hack. Prior to June 14, 2016, were you provided any information about any potential or actual hacking of the computer systems or email accounts of the DNC, the Democratic Congressional Campaign Committee (DCCC), the Clinton Campaign, Hillary Clinton, or individuals associated with the Clinton campaign? If yes, describe who provided this information, when, and the substance of the information.

TRUMP:

Response to Question II, Part (a): I do not remember the date on which it was publicly reported that the DNC had been hacked, but my best recollection is that I learned of the hacking at or shortly after the time it became the subject of media reporting. I do not recall being provided any information during the campaign about the hacking of any of the named entities or individuals before it became the subject of media reporting.

SPECIAL COUNSEL'S OFFICE:

b. On July 22, 2016, WikiLeaks released nearly 20,000 emails sent or received by Democratic party officials.

i. Prior to the July 22, 2016 release, were you aware from any source that WikiLeaks, Guccifer 2.0, DCLeaks, or Russians had or potentially had possession of or planned to release emails or information that could help your campaign or hurt the Clinton campaign? If yes, describe who you discussed this issue with, when, and the substance of the discussion(s).

ii. After the release of emails by WikiLeaks on July 22, 2016, were you told that WikiLeaks possessed or might possess additional information that could be released during the campaign? If yes, describe who provided this information, when, and what you were told.

TRUMP:

Response to Question II, Part (b): I recall that in the months leading up to the election there was considerable media reporting about the possible hacking and release of campaign-related information and there was a lot of talk about this matter. At the time, I was generally aware of these media reports and may have discussed these issues with my campaign staff or others, but at this point in time — more than two years later — I have no recollection of any particular conversation, when it occurred, or who the participants were.

SPECIAL COUNSEL'S OFFICE:

c. Are you aware of any communications during the campaign, directly or indirectly, between Roger Stone, Donald Trump Jr., Paul Manafort, or Rick Gates and (a) WikiLeaks, (b) Julian Assange, (c) other representatives of WikiLeaks, (d) Guccifer 2.0, (e) representatives of Guccifer 2.0, or (f) representatives of DCLeaks? If yes, describe who provided you with this information, when you learned of the communications, and what you know about those communications.

TRUMP:

Response to Question II, Part (c): I do not recall being aware during the campaign of any communications between the individuals named in Question II (c) and anyone I understood to be a representative of WikiLeaks or any of the other individuals or entities referred to in the question.

SPECIAL COUNSEL'S OFFICE:

d. On July 27, 2016, you stated at a press conference: "Russia, if you're listening, I hope you're able to find the 30,000 emails that are missing. I think you will probably be rewarded mightily by our press."

i. Why did you make that request of Russia, as opposed to any other country, entity, or individual?

ii. In advance of making that statement, what discussions, if any, did you have with anyone else about the substance of the statement?

iii. Were you told at any time before or after you made that statement that Russia was attempting to infiltrate or hack computer systems or email accounts of Hillary Clinton or her campaign? If yes, describe who provided this information, when, and what you were told.

TRUMP:

Response to Question II, Part (d): I made the statement quoted in Question II (d) in jest and sarcastically, as was apparent to any objective observer. The context of the statement is evident in the full reading or viewing of the July 27, 2016 press conference, and I refer you to the publicly available transcript and video of that press conference. I do not recall having any discussion about the substance of the statement in advance of the press conference. I do not recall being told during the campaign of any efforts by Russia to infiltrate or hack the computer systems or email accounts of Hillary Clinton or her campaign prior to them becoming the subject of media reporting and I have no recollection of any particular conversation in that regard.

SPECIAL COUNSEL'S OFFICE:

e. On October 7, 2016, emails hacked from the account of John Podesta were released by WikiLeaks.

i. Where were you on October 7, 2016?

ii. Were you told at any time in advance of, or on the day of, the October 7 release that WikiLeaks possessed or might possess emails related to John Podesta? If yes, describe who told you this, when, and what you were told.

iii. Are you aware of anyone associated with you or your campaign, including Roger Stone, reaching out to WikiLeaks, either directly or through an intermediary, on or about October 7, 2016? If yes, identify the person and describe the substance of the conversations or contacts.

TRUMP:

Response to Question II, Part (e): I was in Trump Tower in New York City on October 7, 2016. I have no recollection of being told that WikiLeaks possessed or might possess emails related to John Podesta before the release of Mr. Podesta's emails was reported by the media. Likewise, I have no recollection of being told that Roger Stone, anyone acting as an intermediary for Roger Stone, or anyone associated with my campaign had communicated with WikiLeaks on October 7, 2016.

SPECIAL COUNSEL'S OFFICE:

f. Were you told of anyone associated with you or your campaign, including Roger Stone, having any discussions, directly or indirectly, with WikiLeaks, Guccifer 2.0, or DCLeaks regarding the content or timing of release of hacked emails? If yes, describe who had such contacts, how you became aware of the contacts, when you became aware of the contacts, and the substance of the contacts.

Special counsel Robert Mueller drives away from his Washington home on Wednesday, April 17, 2019. Outstanding questions about the special counsel's Russia investigation have not stopped President Donald Trump and his allies from declaring victory. (AP Photo/Kevin Wolf)

Special counsel Robert Mueller drives away from his Washington home on Wednesday, April 17, 2019. Outstanding questions about the special counsel's Russia investigation have not stopped President Donald Trump and his allies from declaring victory. (AP Photo/Kevin Wolf)

TRUMP:

Response to Question II, Part (f): I do not recall being told during the campaign that Roger Stone or anyone associated with my campaign had discussions with any of the entities named in the question regarding the content or timing of release of hacked emails.

SPECIAL COUNSEL'S OFFICE:

g. From June 1, 2016 through the end of the campaign, how frequently did you communicate with Roger Stone? Describe the nature of your communication(s) with Mr. Stone.

i. During that time period, what efforts did Mr. Stone tell you he was making to assist your campaign, and what requests, if any, did you make of Mr. Stone?

ii. Did Mr. Stone ever discuss WikiLeaks with you or, as far as you were aware, with anyone else associated with the campaign? If yes, describe what you were told, from whom, and when.

iii. Did Mr. Stone at any time inform you about contacts he had with WikiLeaks or any intermediary of WikiLeaks, or about forthcoming releases of information? If yes, describe what Stone told you and when.

TRUMP:

Response to Question ll, Part (g): I spoke by telephone with Roger Stone from time to time during the campaign. I have no recollection of the specifics of any conversations I had with Mr. Stone between June 1.2016 and November 8, 2016. I do not recall discussing WikiLeaks with him, nor do I recall being aware of Mr. Stone having discussed WikiLeaks with individuals associated with my campaign, although I was aware that WikiLeaks was the subject of media reporting and campaign-related discussion at the time.

SPECIAL COUNSEL'S OFFICE:

h. Did you have any discussions prior to January 20, 2017, regarding a potential pardon or other action to benefit Julian Assange? If yes, describe who you had the discussion(s) with, when, and the content of the discussion(s).

TRUMP:

Response to Question II, Part (h): I do not recall having had any discussion during the campaign regarding a pardon or action to benefit Julian Assange.

SPECIAL COUNSEL'S OFFICE:

i. Were you aware of any efforts by foreign individuals or companies, including those in Russia, to assist your campaign through the use of social media postings or the organization of rallies? If yes, identify who you discussed such assistance with, when, and the content of the discussion(s).

TRUMP:

Response to Question II, Part (i): I do not recall being aware during the campaign of specific efforts by foreign individuals or companies to assist my campaign through the use of social media postings or the organization of rallies.

___

III. THE TRUMP ORGANIZATION MOSCOW PROJECT

SPECIAL COUNSEL'S OFFICE:

a. In October 2015, a "Letter of Intent," a copy of which is attached as Exhibit B, was signed for a proposed Trump Organization project in Moscow (the "Trump Moscow project").

i. When were you first informed of discussions about the Trump Moscow project? By whom? What were you told about the project?

ii. Did you sign the letter of intent?

b. In a statement provided to Congress, attached as Exhibit C, Michael Cohen stated: "To the best of my knowledge, Mr. Trump was never in contact with anyone about this proposal other than me on three occasions, including signing a non-binding letter of intent in 2015." Describe all discussions you had with Mr. Cohen, or anyone else associated with the Trump Organization, about the Trump Moscow project, including who you spoke with, when, and the substance of the discussion(s).

c. Did you learn of any communications between Michael Cohen or Felix Sater and any Russian government officials, including officials in the office of Dmitry Peskov, regarding the Trump Moscow project? If so, identify who provided this information to you, when, and the substance of what you learned.

d. Did you have any discussions between June 2015 and June 2016 regarding a potential trip to Russia by you and/or Michael Cohen for reasons related to the Trump Moscow project? If yes, describe who you spoke with, when, and the substance of the discussion(s).

e. Did you at any time direct or suggest that discussions about the Trump Moscow project should cease, or were you informed at any time that the project had been abandoned? If yes, describe who you spoke with, when, the substance of the discussion(s), and why that decision was made.

f. Did you have any discussions regarding what information would be provided publicly or in response to investigative inquiries about potential or actual investments or business deals the Trump Organization had in Russia, including the Trump Moscow project? If yes, describe who you spoke with, when, and the substance of the discussion(s).

g. Aside from the Trump Moscow project, did you or the Trump Organization have any other prospective or actual business interests, investments, or arrangements with Russia or any Russian interest or Russian individual during the campaign? If yes, describe the business interests, investments, or arrangements.

TRUMP:

Response to Question III, Parts (a) through (g): Sometime in 2015, Michael Cohen suggested to me the possibility of a Trump Organization project in Moscow. As I recall, Mr. Cohen described this as a proposed project of a general type we have done in the past in a variety of locations. I signed the non-binding Letter of Intent attached to your questions as Exhibit B which required no equity or expenditure on our end and was consistent with our ongoing efforts to expand into significant markets around the world.

I had few conversations with Mr. Cohen on this subject. As I recall, they were brief, and they were not memorable. I was not enthused about the proposal, and I do not recall any discussion of travel to Russia in connection with it. I do not remember discussing it with anyone else at the Trump Organization, although it is possible. I do not recall being aware at the time of any communications between Mr. Cohen or Felix Sater and any Russian government official regarding the Letter of Intent. In the course of preparing to respond to your questions, I have become aware that Mr. Cohen sent an email regarding the Letter of Intent to "Mr. Peskov" at a general, public email account, which should show there was no meaningful relationship with people in power in Russia. I understand those documents already have been provided to you.

I vaguely remember press inquiries and media reporting during the campaign about whether the Trump Organization had business dealings in Russia. I may have spoken with campaign staff or Trump Organization employees regarding responses to requests for information, but I have no current recollection of any particular conversation, with whom I may have spoken, when, or the substance of any conversation. As I recall, neither I nor the Trump Organization had any projects or proposed projects in Russia during the campaign other than the Letter of Intent.

___

IV. CONTACTS WITH RUSSIA AND RUSSIA-RELATED ISSUES DURING THE CAMPAIGN

SPECIAL COUNSEL'S OFFICE:

a. Prior to mid-August 2016, did you become aware that Paul Manafort had ties to the Ukrainian government? If yes, describe who you learned this information from, when, and the substance of what you were told. Did Mr. Manafort's connections to the Ukrainian or Russian governments play any role in your decision to have him join your campaign? If yes, describe that role.

b. Were you aware that Paul Manafort offered briefings on the progress of your campaign to Oleg Deripaska? If yes, describe who you learned this information from, when, the substance of what you were told, what you understood the purpose was of sharing such information with Mr. Deripaska, and how you responded to learning this information.

c. Were you aware of whether Paul Manafort or anyone else associated with your campaign sent or directed others to send internal Trump campaign information to any person located in Ukraine or Russia or associated with the Ukrainian or Russian governments? If yes, identify who provided you with this information, when, the substance of the discussion(s), what you understood the purpose was of sharing the internal campaign information, and how you responded to learning this information.

d. Did Paul Manafort communicate to you, directly or indirectly, any posit ions Ukraine or Russia would want the U.S. to support? If yes, describe when he communicated those positions to you and the substance of those communications.

TRUMP:

Response to Question IV, Parts (a) through (d): Mr. Manafort was hired primarily because of his delegate work for prior presidential candidates, including Gerald Ford, Ronald Reagan, George H.W. Bush, and Bob Dole. I knew that Mr. Manafort had done international consulting work and, at some time before Mr. Manafort left the campaign, I learned that he was somehow involved with individuals concerning Ukraine, but I do not remember the specifics of what I knew at the time.

l had no knowledge of Mr. Manafort offering briefings on the progress of my campaign to an individual named Oleg Deripaska, nor do I remember being aware of Mr. Manafort or anyone else associated with my campaign sending or directing others to send internal Trump Campaign information to anyone I knew to be in Ukraine or Russia at the time or to anyone I understood to be a Ukrainian or Russian government employee or official. I do not remember Mr. Manafort communicating to me any particular positions Ukraine or Russia would want the United States to support.

SPECIAL COUNSEL'S OFFICE:

e. During the campaign, were you told about efforts by Russian officials to meet with you or senior members of your campaign? If yes, describe who you had conversations with on this topic, when, and what you were told.

TRUMP:

Response to Question IV, Part (e): I do not recall being told during the campaign of efforts by Russian officials to meet with me or with senior members of my campaign. In the process of preparing to respond to these questions, I became aware that on March 17, 2016, my assistant at the Trump Organization, Rhona Graff, received an email from a Sergei Prikhodko, who identified himself as Deputy Prime Minister of the Russian Federation, Foundation Roscongress, inviting me to participate in the St. Petersburg International Economic Forum to be held in June 2016. The documents show that Ms. Graff prepared for my signature a brief response declining the invitation. I understand these documents already have been produced to you.

SPECIAL COUNSEL'S OFFICE:

f. What role, if any, did you have in changing the Republican Party platform regarding arming Ukraine during the Republican National Convention? Prior to the convention, what information did you have about this platform provision? After the platform provision was changed, who told you about the change, when did they tell you, what were you told about why it was changed, and who was involved?

TRUMP:

Response to Question IV, Part (f): I have no recollection of the details of what, when, or from what source I first learned about the change to the platform amendment regarding arming Ukraine, but I generally recall learning of the issue as part of media reporting. I do not recall being involved in changing the language to the amendment.

SPECIAL COUNSEL'S OFFICE:

g. On July 27, 2016, in response to a question about whether you would recognize Crimea as Russian territory and lift sanctions on Russia, you said: "We'll be looking at that. Yeah, we'll be looking." Did you intend to communicate by that statement or at any other time during the campaign a willingness to lift sanctions and/or recognize Russia's annexation of Crimea if you were elected?

i. What consideration did you give to lifting sanctions and/or recognizing Russia's annexation of Crimea if you were elected? Describe who you spoke with about this topic, when, the substance of the discussion(s).

TRUMP:

Response to Question IV, Part (g): My statement did not communicate any position.

___

V. CONTACTS WITH RUSSIA AND RUSSIA-RELATED ISSUES DURING THE TRANSITION

SPECIAL COUNSEL'S OFFICE:

a. Were you asked to attend the World Chess Championship gala on November 10, 2016? If yes, who asked you to attend, when were you asked, and what were you told about why your presence was requested?

i. Did you attend any part of the event? If yes, describe any interactions you had with any Russians or representatives of the Russian government at the event.

TRUMP:

Response to Question V, Part (a): I do not remember having been asked to attend the World Chess Championship gala, and I did not attend the event. During the course of preparing to respond to these questions, I have become aware of documents indicating that in March of 2016, the president of the World Chess Federation invited the Trump Organization to host, at Trump Tower, the 2016 World Chess Championship Match to be held in New York in November 2016. I have also become aware that in November 2016 , there were press inquiries to my staff regarding whether I had plans to attend the tournament , which was not being held at Trump Tower. I understand these documents have already been provided to you.

SPECIAL COUNSEL'S OFFICE:

b. Following the Obama Administration's imposition of sanctions on Russia in December 2016 ("Russia sanctions"), did you discuss with Lieutenant General (LTG) Michael Flynn, K.T. McFarland, Steve Bannon, Reince Priebus, Jared Kushner, Erik Prince, or anyone else associated with the transition what should be communicated to the Russian government regarding the sanctions? If yes, describe who you spoke with about this issue, when, and the substance of the discussion(s).

c. On December 29 and December 31, 2016, LTG Flynn had conversations with Russian Ambassador Sergey Kislyak about the Russia sanctions and Russia's response to the Russia sanctions.

i. Did you direct or suggest that LTG Flynn have discussions with anyone from the Russian government about the Russia sanctions?

ii. Were you told in advance of LTG Flynn's December 29, 2016 conversation that he was going to be speaking with Ambassador Kislyak? If yes, describe who told you this information, when, and what you were told. If no, when and from whom did you learn of LTG Flynn's December 29, 2016 conversation with Ambassador Kislyak?

iii. When did you learn of LTG Flynn and Ambassador Kislyak's call on December 31, 2016? Who told you and what were you told?

iv. When did you learn that sanctions were discussed in the December 29 and December 31, 2016 calls between LTG Flynn and Ambassador Kislyak? Who told you and what were you told?

d. At any time between December 31, 2016, and January 20, 2017, did anyone tell you or suggest to you that Russia's decision not to impose reciprocal sanctions was attributable in any way to LTG Flynn's communications with Ambassador Kislyak? If yes, identify who provided you with this information, when, and the substance of what you were told.

e. On January 12, 2017, the Washington Post published a column that stated that LTG Flynn phoned Ambassador Kislyak several times on December 29, 2016. After learning of the column, did you direct or suggest to anyone that LTG Flynn should deny that he discussed sanctions with Ambassador Kislyak? If yes, who did you make this suggestion or direction to, when, what did you say, and why did you take this step?

i. After learning of the column, did you have any conversations with LTG Flynn about his conversations with Ambassador Kislyak in December 2016? If yes, describe when those discussions occurred and the content of the discussions.

f. Were you told about a meeting between Jared Kushner and Sergei Gorkov that took place in December 2016?

i. If yes, describe who you spoke with, when, the substance of the discussion(s), and what you understood was the purpose of the meeting.

g. Were you told about a meeting or meetings between Erik Prince and Kirill Dmitriev or any other representative from the Russian government that took place in January 2017?

i. If yes, describe who you spoke with, when, the substance of the discussion(s), and what you understood was the purpose of the meeting(s).

h. Prior to January 20, 2017, did you talk to Steve Bannon, Jared Kushner, or any other individual associated with the transition regarding establishing an unofficial line of communication with Russia? If yes, describe who you spoke with, when, the substance of the discussion(s), and what you understood was the purpose of such an unofficial line of communication.

TRUMP:

(No answer provided.)

Source: Fox News Politics

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Theresa May to ask Merkel and Macron for Brexit delay

FILE PHOTO - British Prime Minister Theresa May is seen outside Downing Street in London
FILE PHOTO - British Prime Minister Theresa May is seen outside Downing Street in London, Britain, April 3, 2019. REUTERS/Peter Nicholls

April 8, 2019

By Kylie MacLellan and William James

LONDON (Reuters) – British Prime Minister Theresa May will meet German Chancellor Angela Merkel and French President Emmanuel Macron on Tuesday to argue for a Brexit delay while her ministers hold crisis talks with Labour to try to break the deadlock in London.

Britain’s departure from the EU has already been delayed once but May is asking for yet more time as she courts veteran socialist Jeremy Corbyn, whose opposition Labour Party wants to keep Britain more closely tied to the bloc after Brexit.

“The Prime Minister has not yet moved off her red lines so we can reach a compromise,” Corbyn said ahead of further talks between his team and government ministers on Tuesday.

While May travels to Berlin and Paris ahead of an emergency EU summit in Brussels on Wednesday, British lawmakers will hold a 90-minute debate on her proposal to delay Britain’s EU departure date to June 30 from April 12.

The debate has been forced on the government by parliament passing a law on Monday which will give lawmakers the power to scrutinize and even make legally binding changes to May’s request to extend the Article 50 negotiating period again.

Labour’s demands include keeping Britain in a customs union with the EU, something which is hard to reconcile with May’s desire for Britain to have an independent trade policy.

The Telegraph reported Labour and the government were still discussing both a customs union and the idea of holding a confirmatory referendum on any deal they agree.

Both ideas are anathema to many in May’s party, whose rebels have helped trigger three parliamentary defeats of the withdrawal deal she negotiated with the EU last year.

“I’ve said many times before, we can be more, much more ambitious in our future relationship with the UK,” EU chief negotiator Michel Barnier told a news conference with Irish Prime Minister Leo Varadkar in Dublin on Monday.

BREXIT DELAY?

The 2016 referendum revealed a United Kingdom divided over much more than EU membership, and has sparked impassioned debate about everything from secession and immigration to capitalism, empire and what it means to be British.

Yet, more than a week after Britain was originally supposed to have left the EU, nothing is resolved as May, the weakest British leader in a generation, battles to get a divorce deal ratified by a profoundly divided parliament.

If Britain’s exit is delayed beyond May 22, the EU has said it will have to take part in European Parliament elections. The British government on Monday took the legal steps necessary to take part in that vote.

“It does not make these elections inevitable, as leaving the EU before the date of election automatically removes our obligation to take part,” a government spokesman said.

EU leaders, fatigued by the serpentine Brexit crisis, must decide on Wednesday whether to grant May a further delay. The decision can be vetoed by any of the other 27 member states.

Dutch Prime Minister Mark Rutte said it was “crucial to know when and on what basis (the) UK will ratify the Withdrawal Agreement” as the EU considers May’s request to delay.

Without an extension, Britain is due to leave the EU at 2200 GMT on Friday, without a deal to cushion the economic shock.

While the EU is not expected to trigger such a potentially disorderly no-deal exit, diplomats said all options were on the table – from refusing a delay to granting May’s request or pushing for a longer postponement.

But May is boxed in at home.

Brexiteers in her cabinet insisted on at most a short delay, while Mark Francois, deputy chief of the Conservatives’ hardline eurosceptic faction in parliament, demanded she resign and called on the party to vote on forcing her out – even though there is no formal provision to do so before December.

(Editing by Guy Faulconbridge)

Source: OANN

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Flowers bloom in war-torn Syria’s battered cities

People visit a cemetery in al-Shaar neighborhood of Aleppo
People visit a cemetery in al-Shaar neighborhood of Aleppo, Syria April 12, 2019. REUTERS/Omar Sanadiki

April 16, 2019

By Angus McDowall

ALEPPO, Syria (Reuters) – A mantle of gold smothers Aleppo’s ruins, hiding the rubble and filling the craters with wild flowers that for a moment seem to transform a landscape scarred by war, destruction and death.

After an unusually wet winter, the warm days of spring have suddenly brought an abundance of color and life to a weary Syria, blooming in city and desert.

But they blanket a scene of war. The hummocks and dells are piles of debris, barricades, craters and trenches. The flowers grow where people once lived, fought, died.

Eight years of conflict have killed perhaps half a million people, destroyed whole towns and city districts and made half of all Syrians homeless.

In most parts of the country, the fighting is now over – at least for now. President Bashar al-Assad holds most of Syria, including the city of Aleppo, taken after months of bitter fighting in 2016.

However, Kurdish-led groups hold northeast Syria, and, in the northwest near Aleppo is the frontline with the last big rebel stronghold, where there has been bombardment in recent weeks. 

The war destroyed much of Aleppo’s beautiful Old City and many poor eastern districts, leaving neighborhoods of rubble and fallen stone.

In the remains of the Attariyeh section of the souk, where the stone roof collapsed, a young couple sat on a pile of stones courting in the warm evening air, the sun illuminating the yellow flowers and picking out the woman’s red headscarf.

The steep sides of the ancient citadel’s round hill in the center of the city are thick with blooms and families gather at sunset to stroll or sit.

“It’s God’s message to make everything beautiful after mankind destroyed everything,” said Majd Kanaa, 35, standing at the end of a souk alleyway where he was repairing his late father’s shop, ready to reopen.

BUTTERFLIES, SWALLOWS, FROGS, STORKS

Clouds of butterflies, russet, black and white, flutter from the undergrowth and bees hum round the flowers. Flocks of swallows flit from the sky to roost in the ruins.

At night, in the fields and olive groves just outside the city, a cacophonous croaking of frogs drowns out the noise of cars from a road lined with cypress and pine trees.

Along the road from the south, precariously held for years by the army with rebels on one side and Islamic State on the other, the fighting left a chain of fortifications.

The war has moved far from here and these are now mostly deserted. Grass and flowers grow thick between the oil drums, sandbags and stacked tires guarding the old gun emplacements and concrete boxes.

Yellow broom, purple thistles and fat red poppies spring from the desert floor and paint it a psychedelic swirl of color. In one place, a huge patch of ground seems to bleed with thousands of poppies springing from the softly undulating earth.

“In Syria we believe that poppies are the blood of the martyrs,” said Aleppo lawyer and historian Alaa al-Sayed, explaining that their Arabic name comes from a dead king. “There are so many martyrs,” he added.

In the hills beyond the poppies are the pretty pointed mud domes of traditional “beehive” villages and young shepherds watching flocks of sheep and goats.

When the strong west wind ruffles the ground in the late afternoon, it makes the grass shimmer. Flocks of small birds suddenly rise from the ground and bob in the air. Migrating storks beat their wings in the distance.

Little electricity means little light, and at night the heavens are lit by a sharp crescent moon and brilliant constellations of stars. A fox slinks across the desert road in the light of car headlights.

But from time to time they also illuminate the burnt-out wrecks by the roadside, the remains of battles past, while two heavy trucks bear tanks onwards to today’s front line.

(Editing by Alexandra Hudson)

Source: OANN

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Exclusive: China’s Bytedance says India TikTok ban causing $500,000 daily loss, risks jobs

FILE PHOTO: The logo of TikTok application is seen in this picture illustration
FILE PHOTO: The logo of TikTok application is seen on a screen in this picture illustration taken February 21, 2019. REUTERS/Danish Siddiqui/Illustration

April 23, 2019

By Aditya Kalra and Munsif Vengattil

NEW DELHI (Reuters) – India’s ban on popular Chinese video app TikTok is resulting in “financial losses” of up to $500,000 a day for its developer, Beijing Bytedance Technology Co, and has put more than 250 jobs at risk, the company said in a court filing seen by Reuters.

TikTok allows users to create and share short videos with special effects and is one of the world’s most popular apps. It has been downloaded by nearly 300 million users so far in India, out of more than 1 billion downloads globally, according to analytics firm Sensor Tower.

Earlier this month, an Indian state court ordered the federal government to prohibit its downloads, saying the app was encouraging pornography. Acting upon instructions from the federal IT ministry, Apple Inc and Alphabet Inc’s Google last week removed TikTok from their India app stores.

The developments have dealt a blow to the India growth plans of Bytedance, which is backed by Japan’s SoftBank Group Corp and by private equity. Bytedance, one of the world’s most valuable startups potentially worth around $75 billion, was considering a public listing in Hong Kong this year, sources told Reuters in August.

The ban has also worried the social media industry in India as it sees legal worries mounting if courts increasingly regulate content on their platforms.

In the filing made to India’s Supreme Court on Saturday, Bytedance urged the court to quash the ban and direct the federal IT ministry to tell companies such as Google and Apple to make the app available again on their platforms.

The court filing is not publicly available and its contents have not been previously reported.

Bytedance pegged financial losses at $500,000 each day, which it said includes destruction in the value of its investments and loss of commercial revenue. It added the ban would result in its reputation and goodwill taking a hit with both advertisers and investors.

“Banning has had adverse impact on the user base of this app, losing close to 1 million new users per day … It is estimated that approximately six million requests for downloads could not be effected since the ban came into effect,” the company said in the filing.

A spokesman for TikTok and the federal IT ministry did not respond to requests for comment.

COURT BATTLE, CONTENT WOES

The Supreme Court has so far not provided any interim relief on repeated pleas by Bytedance and referred the case back to the court in southern Tamil Nadu state, where the case will next be heard on Wednesday.

Memes and music videos thrive on TikTok, although some clips show youngsters, some scantily clad, lip-syncing and dancing to popular tunes.

Its growing popularity has drawn criticism from some Indian politicians and parents who say its content is inappropriate. The Tamil Nadu court, which ruled against TikTok after an individual filed a public interest litigation, has said the app could also expose children to sexual predators.

The Supreme Court filing included a table in which Bytedance compared TikTok to Facebook, Instagram and Twitter by listing 13 of its implemented safety features, including parental controls.

A “very minuscule” proportion of TikTok’s videos were considered inappropriate or obscene, the company has said.

“The constitutionally guaranteed fundamental rights of free speech and expression … of numerous Indian citizens have been severely impacted,” the company said in its latest filing.

(Reporting by Aditya Kalra; Editing by Martin Howell and Muralikumar Anantharaman)

Source: OANN

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A worker holds a nozzle to pump petrol into a vehicle at a fuel station in Mumbai
FILE PHOTO: A worker holds a nozzle to pump petrol into a vehicle at a fuel station in Mumbai, India, May 21, 2018. REUTERS/Francis Mascarenhas

April 26, 2019

By Manoj Kumar and Nidhi Verma

NEW DELHI (Reuters) – Surging global oil prices will pose a first big challenge to India’s new government, whoever wins an election now under way, especially as domestic prices have been allowed to lag, meaning consumers are in for a painful surge as they catch up.

For oil-import dependent India, higher global prices could lead to a weaker rupee, higher inflation, the ruling out of interest rate cuts and could further weigh on twin current account and budget deficits, economists warned.

But compounding the future pain, state-run fuel suppliers and retailers have held off passing on to consumers the higher prices during a staggered general election, which began on April 11 and ends on May 23, according to sources familiar with the situation.

That delay is expected to be unwound once the election is over. And there could be additional price increases to make up for losses or profits missed during the period of delayed increases, the sources said.

In some major Asian countries, such as Japan and South Korea, pump prices are adjusted periodically so they move largely in tandem with international crude prices.

That was what was supposed to happen in India but the election means there have been many days when pump prices have been unchanged.

In New Delhi, for example, while crude oil prices have gone up by nearly $9 a barrel, or about 12 percent, in the past six weeks, gasoline prices have only risen by 0.47 rupees a liter, or 0.6 percent.

State-controlled fuel suppliers and retailers declined to say why they had delayed price increases, or discuss whether there has been any pressure from the government of Prime Minister Narendra Modi.

A government spokesman declined to comment.

The opposition Congress party said Modi’s government was violating its own policy of daily price revision by advising the state oil companies to hold prices steady.

“The government should cut fuel taxes otherwise consumers will have to pay much higher oil prices once the elections are over,” said Akhilesh Pratap Singh, a senior leader of the Congress party.

(GRAPHIC: India Polls: Fuel price hike lags crude surge – https://tmsnrt.rs/2XLlxik)

Nitin Goyal, treasurer at the All India Petroleum Dealers Association, representing fuel stations in 25 states, said prices were similarly held down for 19 days in the southern state of Karnataka last year, when it held state assembly elections.

Only for them to surge after the vote.

“Consumers should be ready for a rude shock of a massive jump in retail prices, similar to the level we have seen in the Karnataka state election,” Goyal said.

‘CREDIT NEGATIVE’

Sri Paravaikkarasu, director for Asia oil at Singapore-based consultancy FGE, said retail prices of gasoline and gasoil prices would have been up to 6 percent, or about 4 rupee, higher if they had been allowed to rise in line with global prices.

“Indian pump prices have failed to keep up with the recent uptrend in crude prices,” Paravaikkarasu said.

“With the country’s general elections underway, the incumbent government has been keeping pump prices relatively unchanged.”

India had switched to a daily price revision in June 2017 from a revision every two weeks, as the government allowed retailers to set prices.

But the government faced protests last October when retailers raised prices by up to 10 rupees a liter after the crude oil price went above $80 a barrel, forcing it to cut fuel taxes.

Global prices rose to their highest level in 2019 on Thursday, days after the United States announced all Iran sanction waivers would end by May, pressuring importers including India to stop buying Tehran’s oil. [O/R]

Higher oil prices will mean Asia’s third largest economy is likely to see growth of less than 7 percent rate this fiscal year, economists said. Growth slowed to 6.6 percent in the October-December quarter, the slowest in five quarters.

Rating agency CARE has warned that a 10 percent rise in global oil prices could increase demand for dollars, putting pressure on the rupee and widening the current account deficit.

India’s oil import bill rose by nearly one-third in the fiscal year ending March 31 to $140.5 billion, against $108 billion the previous year.

“The increase in international oil prices is a credit negative for the Indian economy,” ICRA, the Indian arm of the Fitch rating agency, said in a note.

“Every $10/ bbl increase in crude oil prices increases the fiscal deficit by about 0.1 percent of GDP.”

Any big price rise would also build a case for the central bank to keep rates steady, or even raise them.

The Reserve Bank of India’s Monetary Policy Committee, which cut the benchmark policy repo rate by 25 basis points this month, warned that rising oil and food prices could push up inflation.

Policymakers are worried that a sustained increase in the oil price in the range of $70-75/barrel or higher can move the rupee down by 3-4 percent on an annual basis.

The rupee has depreciated by 1.24 percent against the dollar since a year high in mid-March.

($1 = 70.1800 Indian rupees)

(Reporting by Manoj Kumar and Nidhi Verma; Editing by Martin Howell and Rob Birsel)

Source: OANN

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FILE PHOTO: Uber's logo is displayed on a mobile phone in London, Britain
FILE PHOTO: Uber’s logo is displayed on a mobile phone in London, Britain, September 14, 2018. REUTERS/Hannah Mckay/File Photo

April 26, 2019

(Reuters) – Ride-hailing company Uber Technologies Inc unveiled terms for its initial public offering on Friday, telling investors it would seek to sell as much as $10.35 billion in stock at a valuation of up to $91.5 billion.

In a regulatory filing, Uber set a target price range of $44-$50 per share for its IPO. The company will sell 180 million shares in the offering, with a further 27 million sold by insiders.

In the filing, Uber also reported a net loss attributable to the company for the first quarter of 2019 of around $1 billion and revenues of roughly $3 billion.

(Reporting by Joshua Franklin; editing by Patrick Graham)

Source: OANN

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FILE PHOTO: Jet Airways aircraft are seen parked at the Chhatrapati Shivaji Maharaj International Airport in Mumbai
FILE PHOTO: Jet Airways aircraft are seen parked at the Chhatrapati Shivaji Maharaj International Airport in Mumbai, India, April 18, 2019. REUTERS/Francis Mascarenhas/File Photo

April 26, 2019

By Aditi Shah and Abhirup Roy

NEW DELHI/MUMBAI (Reuters) – The grounding of India’s Jet Airways is turning into a quick windfall and long-term opportunity for international airlines keen to scoop up nearly a million outbound passengers from what was once the nation’s biggest airline.

Jet, which previously had a fleet of around 120 largely Boeing Co planes, was forced to indefinitely halt all flight operations on April 17 after its banks rejected the carrier’s plea for emergency funds.

The carrier’s descent into crisis has benefited international airlines in the form of rising fares and demand, data showed.

Fares from India to cities such as Dubai, London, New York, Singapore and Bali in the first quarter of 2019 rose between 4 percent and 32 percent from a year ago, according to Indian travel portal MakeMyTrip Ltd.

In the peak travel months of May and June, fares to London have spiked as much as 36 percent and tickets to San Francisco are up nearly 20 percent from a year ago, according to data from travel portal Yatra.com.

“For the next three months it’s actually bonanza time for international players,” said Ashish Nainan, a research analyst at CARE Ratings. “At least until the middle of June, the fares are not going to come down.”

Due to rising demand, even before Jet’s lessors grounded planes, carriers such as British Airways, Cathay Pacific Airways Ltd, Singapore Airlines Ltd and United Airlines saw an up to a 27 percent increase in passenger numbers from India in the last quarter of 2018, data from India’s aviation regulator showed. That is the latest period for which the data is available.

India is one of the world’s fastest-growing aviation markets, clocking 15-20 percent domestic growth in recent years. It has long had only two full-service long-haul carriers, state-run Air India and Jet.

Jet is now hoping to be bailed out by a new investor, with final bids due on May 10.

INCREASING CAPACITY

Before its grounding, Jet had the biggest share of India’s outbound international air traffic, carrying 12 percent of the 7.8 million passengers headed overseas in the Oct-Dec quarter, down from 14 percent a year earlier, data from the Directorate General of Civil Aviation showed.

For an interactive graphic on Jet’s market share, click https://tmsnrt.rs/2WvDQYi

For an interactive graphic on average daily flights by the airline, click https://tmsnrt.rs/2FeFDel

The total number of passengers traveling overseas with Jet fell 10 percent during the last quarter of 2018 even as the outbound travel market grew about 5 percent.

Meanwhile, Singapore Airlines posted a 27 percent increase in passengers from India, Cathay registered 17 percent growth and British Airways saw a 10 percent rise in the same period.

Cathay said the events at Jet combined with increasing demand for travel had led it to deploy larger aircraft with more seats on some Indian routes.

“In the long term we would certainly like to be able to offer more capacity into India, not just on our existing routes but by establishing new services to secondary cities,” Cathay said in a statement.

Singapore Airlines, in an email to Reuters, said the Indian market is “very promising” but declined to give details of airfare levels or demand patterns in the wake of Jet’s exit, citing a quiet period before the release of its annual results.

DOMESTIC GAINS

Jet’s grounding has also had a big impact on the domestic market, with inter-city air fares to major cities such as New Delhi, Mumbai, Bengaluru and Kolkata soaring more than 20 percent in May and June, according to Yatra.com.

The spike in fares is expected to underpin strong earnings for IndiGo and SpiceJet Ltd, which are set to report results for the quarter ended March 31 in the coming weeks.

“Domestic Indian carriers are the main benefactors, but I suspect if Jet fails to be revived by May 10 then Vistara and other airlines that ply international routes, particularly the lucrative Gulf market, are the main winners,” said Shukor Yusof, the head of aviation consultancy Endau Analytics. Vistara is a joint venture of India’s Tata Sons and Singapore Airlines.

Inadequate bilateral traffic rights between India and other countries, however, could be an impediment to foreign carriers’ hopes of winning business lost by Jet, some analysts said.

“Even before Jet’s operational shutdown, international capacity was significantly constrained,” said Kapil Kaul, CEO for South Asia of consultancy CAPA. “We have now more serious capacity challenge … this is unlikely to be stabilized in the near term.”

A new national government likely to be in place sometime after elections end in May is expected to address the international capacity constraints, and once bilateral agreements are eased airlines including Emirates, Turkish and Qatar would immediately benefit, said Kaul.

“We would love to add more flights but we are at the limit of the allocation granted to us for traffic rights,” Emirates Chief Commercial Officer Thierry Antinori told reporters in Dubai on Wednesday.

(Additional reporting by Alexander Cornwell in Dubai, Jamie Freed in Singapore and Tanvi Mehta in Mumbai; Editing by Muralikumar Anantharaman)

Source: OANN

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FILE PHOTO: The company logo for pharmaceutical company AstraZeneca is displayed on a screen on the floor at the NYSE in New York
FILE PHOTO: The company logo for pharmaceutical company AstraZeneca is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 8, 2019. REUTERS/Brendan McDermid

April 26, 2019

By Pushkala Aripaka and Ankur Banerjee

(Reuters) – AstraZeneca Plc beat first-quarter sales and earnings expectations on Friday as the British drugmaker benefited from a push into cancer drugs and emerging markets including China.

Newer treatments such as lung cancer drug Tagrisso, now the company’s top selling medicine, have helped the drugmaker’s return to growth after years of crumbling sales due to patent losses on older drugs.

Sales in China have shown explosive growth, more than doubling since 2012, but AstraZeneca executives on Friday said that may not be sustained.

“The enormous growth you currently see in China, 28 percent, probably is not sustainable, but we feel very bullish that the growth will continue to be at a pace of between 15 percent and 20 percent,” Ruud Dobber, executive vice president, BioPharma, told Reuters.

Shares of the company were down 0.2 percent at 5,878 pence at 1031 GMT.

The turnaround in AstraZeneca’s fortunes has been powered by a push into cancer treatments led by Chief Executive Pascal Soriot, who saw off a 2014 takeover bid from Pfizer in part by promising annual sales of $45 billion by 2023.

In the first quarter, sales from its oncology unit rose 59 percent to $1.89 billion, accounting for 35 percent of total product sales.

The company has moved deeper into cancer therapy market through wide-ranging deals, including those for immunotherapy and targeted therapy. Last month, it agreed a multi-billion dollar oncology deal with Japan’s Daiichi Sankyo Co Ltd.

Interactive graphic on AZN’s top 10 drugs by sales – https://tmsnrt.rs/2W5XIRX

“We’re reaching that point where after years of having to keep faith, we have actually got something tangible to believe in,” Hargreaves Lansdown analyst Nicholas Hyett said.

AstraZeneca also backed its annual sales and earnings forecast and said it has extensively prepared for UK’s anticipated exit from the European Union, even in the event of a no-deal exit.

The company has already spent more than 40 million pounds ($52 million) on Brexit preparations, including stockpiling six weeks’ worth of drugs in the UK and four weeks in continental Europe to guard against shortages.

AstraZeneca said product sales rose 14 percent at constant currency to $5.47 billion in the quarter, led by its lung cancer drug Tagrisso and respiratory treatment Pulmicort.

Interactive graphic on AZN’s quarterly oncology sales – https://tmsnrt.rs/2W9tbCD

China sales increased by 28 percent to $1.24 billion in the quarter, accounting for nearly a quarter of overall product sales.

Core earnings came in at 89 cents per share in the quarter. Analysts on average were expecting core earnings of 85 cents per share and product sales of $5.29 billion, according to a company provided consensus of 19 analysts.

(Reporting by Pushkala Aripaka and Ankur Banerjee in Bengaluru; Editing by Bernard Orr/Keith Weir)

Source: OANN

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