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Ryanair triggers Brexit plans on restricted shareholder rights

FILE PHOTO: A Ryanair aircraft lands at the airport in Modlin near Warsaw, Poland
FILE PHOTO: A Ryanair aircraft lands at the airport in Modlin near Warsaw, Poland November 15, 2018. REUTERS/Kacper Pempel

March 11, 2019

DUBLIN (Reuters) – Ryanair has triggered contingency plans to restrict the voting rights of British shareholders if it leaves the European Union without a deal on future relations or quits both the EU customs union and single market in a “hard” Brexit scenario.

Ryanair announced last year it would have to restrict the rights if UK shareholders ceased to qualify as European Union nationals to ensure it remained majority EU-owned to comply with its licensing and flight rights.

Its board passed a number of resolutions on Friday which will become effective on the date British nationals become non-EU nationals, Europe’s biggest low cost airline said in a statement.

At that point, shareholders will be issued with restricted share notices, specifying that they will not be entitled to attend, speak or vote at any general meeting of the company for as long as those shares are treated as restricted shares.

“These resolutions will remain in place until the board determines that the ownership and control of the company is no longer such that there is any risk to the airline licenses held by the company’s subsidiaries pursuant to EU Regulation 1008/2008,” Ryanair said.

Ryanair Chief Financial Officer Neil Sorohan said last month that while the airline was 55 percent EU-owned, Britain-based shareholders controlled 20 percent of its stock. He told Reuters he expected half of those to redomicile to the EU in a no-deal or “hard” Brexit.

Chief Executive Michael O’Leary also said last month that the carrier might look to buy back shares in the event of a no-deal Brexit to use it as an opportunity for British shareholders to dispose stock due to the planned restrictions.

(Reporting by Padraic Halpin; Editing by Edmund Blair)

Source: OANN

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Today in History

Today in History

Today is Wednesday, March 13, the 72nd day of 2019. There are 293 days left in the year.

Today's Highlight in History:

On March 13, 1954, the Battle of Dien Bien Phu began during the First Indochina War as Viet Minh forces attacked French troops, who were defeated nearly two months later.

On this date:

In 1764, Charles Grey, 2nd Earl Grey, who served as British Prime Minister from 1830 to 1834 (and for whom Earl Grey tea is named), was born in Falloden, Northumberland.

In 1865, Confederate President Jefferson Davis signed a measure allowing black slaves to enlist in the Confederate States Army with the promise they would be set free.

In 1901, the 23rd President of the United States, Benjamin Harrison, died in Indianapolis at age 67.

In 1925, the Tennessee General Assembly approved a bill prohibiting the teaching of the theory of evolution. (Gov. Austin Peay (pee) signed the measure on March 21.)

In 1928, at least 400 people died when the San Francisquito Canyon in Southern California was inundated with water after the nearly two-year-old St. Francis Dam collapsed just before midnight the evening of March 12.

In 1933, banks in the U.S. began to reopen after a "holiday" declared by President Franklin D. Roosevelt.

In 1934, a gang that included John Dillinger and "Baby Face" Nelson robbed the First National Bank in Mason City, Iowa, making off with $52,344.

In 1964, bar manager Catherine "Kitty" Genovese, 28, was stabbed to death near her Queens, New York, home; the case gained notoriety over the supposed reluctance of Genovese's neighbors to respond to her cries for help.

In 1975, the first Chili's restaurant was opened in Dallas by entrepreneur Larry Lavine.

In 1980, Ford Motor Co. Chairman Henry Ford II announced he was stepping down, the same day a jury in Winamac, Indiana, found the company not guilty of reckless homicide in the fiery deaths of three young women in a Ford Pinto.

In 1996, a gunman burst into an elementary school in Dunblane, Scotland, and opened fire, killing 16 children and one teacher before killing himself.

In 2013, Jorge Bergoglio (HOHR'-hay behr-GOHG'-lee-oh) of Argentina was elected pope, choosing the name Francis; he was the first pontiff from the Americas and the first from outside Europe in more than a millennium.

Ten years ago: President Barack Obama met with former Federal Reserve Chairman Paul Volcker, chairman of his Economic Recovery Advisory Board; the president then went before reporters to say his administration was working to create a "post-bubble" model for solid economic growth once the recession ended. Death claimed soprano Anne Wiggins Brown, the original Bess in George Gershwin's "Porgy and Bess," at age 96; actress Betsy Blair at age 85; and Detroit Pistons' Hall of Fame owner Bill Davidson at age 86. The Philadelphia 76ers played a final game at the Spectrum, their old home, beating Chicago 104-101.

Five years ago: Seeking to pacify frustrated immigration advocates, President Barack Obama directed the government to find more humane ways to handle deportation for immigrants in the U.S. illegally. Former Florida Gov. Reubin Askew, who'd guided the state through a period of school busing to achieve integration in the 1970s, died in Tallahassee at age 85.

One year ago: President Donald Trump abruptly dumped Secretary of State Rex Tillerson - via Twitter - and moved CIA Director Mike Pompeo from the role of America's spy chief to its top diplomat. On his first trip to California as president, Trump accused the state of putting "the entire nation at risk" by refusing to take tough action against illegal immigration. Joy Behar of "The View" apologized for suggesting that mental illness was behind claims by people that Jesus Christ talks to them; her comment had come during a discussion about Vice President Mike Pence. A third powerful nor'easter in two weeks slammed the Northeast, bringing blizzard conditions and two feet of snow to some communities. Prosecutors announced plans to seek the death penalty against the former student charged with killing 17 people at a Florida high school.

Today's Birthdays: Jazz musician Roy Haynes is 94. Country singer Jan Howard is 89. Songwriter Mike Stoller (STOH'-ler) is 86. Singer-songwriter Neil Sedaka is 80. R&B/gospel singer Candi Staton is 79. Opera singer Julia Migenes is 70. Actor William H. Macy is 69. Comedian Robin Duke is 65. Actress Dana Delany is 63. Sen. John Hoeven, R-N.D., is 62. Rock musician Adam Clayton (U2) is 59. Jazz musician Terence Blanchard is 57. Actor Christopher Collet is 51. Rock musician Matt McDonough (Mudvayne) is 50. Actress Annabeth Gish is 48. Actress Tracy Wells is 48. Rapper-actor Common is 47. Rapper Khujo (Goodie Mob, The Lumberjacks) is 47. Singer Glenn Lewis is 44. Actor Danny Masterson is 43. Bluegrass musician Clayton Campbell (The Gibson Brothers) is 38. Actor Noel Fisher is 35. Singers Natalie and Nicole Albino (Nina Sky) are 35. Actor Emile Hirsch is 34. Olympic gold medal skier Mikaela Shiffrin is 24.

Thought for Today: "Dare to err and to dream. Deep meaning often lies in childish plays." — Friedrich von Schiller, German author (1759-1805).

Source: Fox News National

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Trump doubles down on plan to ship migrants to sanctuary cities, says ‘Radical Left’ should be happy

President Trump responded to reports Friday that his administration proposed releasing immigrant detainees in sanctuary cities by not only confirming the plan but saying it remains under “strong” consideration.

Further, the president tweeted that relocating illegal immigrants to these districts should make the "Radical Left" happy.

The comments came after The Washington Post first reported that the White House proposed sending the detainees to sanctuary cities twice in the last six months. The proposal was first floated in November amid reports of a large migrant caravan from Central American making its way to the southern border. The idea was again considered in February, amid the standoff with Congress over a border wall.

PELOSI FUMES OVER WHITE HOUSE PLAN TO RELEASE IMMIGRANT DETAINEES IN SANCTUARY CITIES

The Post said the plan was shot down both times. But on Friday, Trump signaled the proposal isn't dead.

“Due to the fact that Democrats are unwilling to change our very dangerous immigration laws, we are indeed, as reported, giving strong considerations to placing Illegal Immigrants in Sanctuary Cities only,” Trump tweeted.

“The Radical Left always seems to have an Open Borders, Open Arms policy—so this should make them very happy!” he continued.

The president doubled down as Democrats fumed over the relocation idea.

“The extent of this Administration’s cynicism and cruelty cannot be overstated,” House Speaker Nancy Pelosi’s spokeswoman Ashley Etienne said in a statement Friday. “Using human beings—including little children—as pawns in their warped game to perpetuate fear and demonize immigrants is despicable, and in some cases, criminal.”

She added: “The American people have resoundingly rejected this Administration’s toxic anti-immigrant policies, and Democrats will continue to advance immigration policies that keep us safe and honor our values.”

Pelosi’s district—San Francisco—was among the sanctuary cities the administration considered sending detainees to.

WHITE HOUSE PROPOSED RELEASING IMMIGRANT DETAINEES INTO 'SANCTUARY CITIES' TO TARGET POLITICAL FOES: REPORT

White House officials, though, stressed earlier Friday that the plan never went anywhere. A source familiar with discussions told Fox News that Democrats who advocate leniency toward illegal immigrants should work with the administration to find ways to transport those set for release, including in their states and districts.

The proposal was apparently rejected both times it came up by administration immigration agencies.

A Nov. 16 email from the White House to officials at several agencies reportedly asked whether migrants could be arrested and bused to “small-and mid-sized sanctuary cities” and other Democratic strongholds. Pelosi’s district in San Francisco was considered one of the areas targeted, according to The Post.

The proposal was intended to alleviate crowded detention centers, the White House told Immigration and Customs Enforcement (ICE).

The same report said "the attempt at political retribution raised alarm within ICE." An ICE official responded, noting that there were budgetary and liability issues, but also said “there are PR risks as well.”

The source familiar with the discussions argued, however, that the White House did not view this as political retribution.

“This was just a suggestion that was floated and rejected, which ended any further discussion,” the White House told The Post.

In a statement, Deputy ICE Director Matt Albence also pushed back and said he was not pressured by the White House – though indicated such a proposal was put forward.

“As the Acting Deputy I was not pressured by anyone at the White House on this issue. I was asked my opinion and provided it and my advice was heeded. The email exchange is clear and suggesting that it indicates inappropriate pressure is inaccurate,” he said.

It is unclear, at this point, whether immigration agencies would now support the proposal.

Trump has repeatedly blasted sanctuary cities, which are areas where local authorities refuse to cooperate with federal immigration agencies. The cities are typically run by Democrats.

The president was also hit this week with questions over the administration’s past family separation policy at the border. Trump said they have no plans to revive the policy, amid renewed speculation about whether the practice could return amid a shake-up in staffing at the Department of Homeland Security including the resignation of Secretary Kirstjen Nielsen.

Kevin McAleenan, who was serving as CBP commissioner, is replacing her as acting secretary.

Nielsen’s resignation comes amid an influx of migrants at the U.S.-Mexico border. Nielsen was reportedly frustrated with the difficulty of getting other departments to help deal with the growing number of families crossing the border. But administration officials told Fox News that McAleenan best fits Trump’s requirement of being the “toughest cop” on the frontier, and that Nielsen had been viewed as resistant to some of the immigration measures pushed by the president and his aides.

By Tuesday, DHS Acting Deputy Secretary Claire Grady also resigned.

And on Wednesday, Nielsen announced that ICE Acting Director Ron Vitiello would be stepping down by the end of the week.

Fox News' Kristin Brown, Matt Leach, and The Associated Press contributed to this report. 

Source: Fox News Politics

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Stolen $28M Picasso painting found by 'Indiana Jones of the art world' after 20 years

A painting by Pablo Picasso worth millions that was stolen from a yacht in France 20 years ago has been tracked down thanks to a renowned Dutch art detective.

Arthur Brand said Tuesday he recovered the 1938 painting "Buste de Femme" 2 weeks ago after trailing it for years in Amsterdam. The artwork had been stolen from a wealthy Saudi sheikh's yacht in 1999.

Brand estimates the portrait to be worth $28 million and said he knew it was the real deal as soon as he saw it, according to Sky News.

"You know it's a Picasso because there is some magic coming off it," he said Tuesday.

CRIMINAL GANGS USING STUFFED, DEAD RODENTS TO SMUGGLE DRUGS INTO PRISON

Dutch newspaper De Volkskrant reported the painting was confirmed by a former art investigator from Scotland Yard, who is now acting on behalf of the insurance company, and an expert from the US who flew over to the Netherlands to verify the portrait's authenticity.

This image released on Tuesday March 26, 2019 by Arthur Brand, shows Dutch art detective Arthur Brand with "Buste de Femme", a recovered Picasso painting.

This image released on Tuesday March 26, 2019 by Arthur Brand, shows Dutch art detective Arthur Brand with "Buste de Femme", a recovered Picasso painting. (Arthur Brand via AP)

"This is the stolen Picasso," Dick Ellis told the news outlet. "It is still in good condition, with slight damage."

MEXICO ASKS VATICAN, SPAIN TO APOLOGIZE FOR CENTURIES-OLD CONQUEST, SAYS IT WAS CARRIED OUT WITH 'SWORD AND CROSS'

Brand, a renowned sleuth whose previous finds include a pair of bronze horses sculpted for Adolf Hitler, had teased the find last week on Twitter, saying he was working on "one of the biggest cases of my career."

CLICK HERE FOR THE FOX NEWS APP

He made headlines last year after tracking down a Byzantine mosaic of Saint Mark that was stolen from Cyprus, the BBC previously reported.

Tracking down stolen artwork has earned him the moniker "the Indiana Jones of the art world." Brand has previously told the AFP News agency that recovering the mosaic was "one of the greatest moments of my life."

The Associated Press contributed to this report.

Source: Fox News World

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Microsoft workers demand it drop $450 million U.S. Army contract

A Microsoft store is pictured in New York City
A Microsoft store is pictured in New York City, New York, U.S., August 21, 2018. REUTERS/Carlo Allegri/File Photo

February 22, 2019

By Paresh Dave

SAN FRANCISCO (Reuters) – Several Microsoft Corp employees on Friday demanded that the company cancel a $480 million hardware contract with the U.S. Army and stop developing “any and all weapons technologies.”

The organizing effort, described to Reuters by three Microsoft workers, offers the latest example in the last year of tech employees protesting cooperation with governments on emerging technologies.

Microsoft won a contract in November to supply the Army with at least 2,500 prototypes of augmented reality headsets, which digitally displays contextual information in front of a user’s eyes. The government has said the devices would be used on the battlefield and in training to improve soldiers “lethality, mobility and situational awareness.”

In a petition to Microsoft executives, posted on Twitter, workers said they “did not sign up to develop weapons, and we demand a say in how our work is used.” They called on the company to develop “a public-facing acceptable use policy” for its technology and an external review board to publicly enforce it.

Microsoft and the U.S. Army did not immediately respond to requests to comment. Company President Brad Smith said in an October blog post it remained committed to assisting the military.

“We’ll engage not only actively but proactively across the U.S. government to advocate for policies and laws that will ensure that AI and other new technologies are used responsibly and ethically,” Smith wrote.

Though many governments want to better draw upon the expertise of the biggest U.S. tech companies, fresh employee resistance has added a new challenge to already complicated relationships.

Worker pushback led Alphabet Inc last year to announce it would not renew a Pentagon contract in which its artificial intelligence technology is used to analyze drone imagery.

In other cases, employee criticism has invited greater public scrutiny to deals, such as $10 billion cloud computing contract yet to be awarded and various contracts with U.S. Immigration and Customs Enforcement.

One Microsoft worker, speaking on condition of anonymity, said it was unclear whether any of the lead petitioners’ work touches the Army contract because the company’s services are intertwined. Another said several organizers work in the company’s cloud computing division, which is competing with rivals Google Cloud and Amazon Web Services to gain more government work.

(Reporting by Paresh Dave; Editing by Richard Chang)

Source: OANN

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Who Decides What News Is Fake News?

"Full Measure" host Sharyl Attkisson reports on efforts to improve "media literacy," and asks whether groups whose goal is to expose media bias have their own biases.

President Trump: I think that the BuzzFeed piece was a disgrace to our country.

Jeffrey Toobin: The press screwed up and they should apologize and you know the media isn’t as great as it thinks it is. This is a bad day for the news media. I mean, let’s not kid ourselves.

SHARYL ATTKISSON: BuzzFeed stands by its report.

Whatever the case, it underscores how it’s getting harder to separate fact from fiction in the news. Now, there are unprecedented efforts by third parties— to curate information for you.

Some even want to give lessons to first graders on how to sort through fake news— between math and reading.

Person on street: I think children or young adults need to be informed about how to decipher what is real news and not.

Person on street: I think everyone, not just high school students, everyone should get educated about what to believe and not believe with the media.

Person on street: We really have to understand who you're hearing it from, why they may be telling you what they're telling you and generate your own viewpoints from there.

SHARYL ATTKISSON: Do you think there is a way for the government or third parties to get involved in curating our information for us so that we can really read factual information? Or is that just a no win proposition?

KATY GRIMES: I think the answer is absolutely no. It's a no-win proposition.

SHARYL ATTKISSON: Katy Grimes is an investigative journalist in California — one of the states where lawmakers have been pushing for new laws to root out “fake news” and teach media literacy in public schools. The question is — who decides what’s real when it’s a matter in dispute.

KATY GRIMES: I think we, we've seen a lot of history in the past when you've got governments that try to control media. We've got governments around the world still trying to control media and it's limiting what the populations who live there get.

SHARYL ATTKISSON: Is it sort of a new trend in your experience to see government stepping in and saying that it has a role to play in helping sort through or curate information for us?

KATY GRIMES: Yes. This seems to be a very new role and it's extremely disturbing. They're trying to pass a bill that would require schools to teach children some idea of what fake news is. And I think that's just a giant red flag.

SHARYL ATTKISSON: President Obama first drew national attention to the notion that somebody needed to start curating information. It was less than a month before the 2016 election. Liberal interests had already introduced the phrase “fake news” to criticize campaign-driven conspiracy theories.

President Obama: We are going to have to rebuild within this wild-wild-west-of-information flow some sort of curating function that people agree to.

SHARYL ATTKISSON: With the President’s announcement, an organized effort grew. According to the advocacy group "Media Literacy Now," which is pushing for new laws, 10 states considered media literacy legislation last year alone. Sponsors of 3 California bills, Senators Richard Pan, Hannah-Beth Jackson and Bill Dodd, wouldn’t sit down for interviews to discuss their proposals with us. Ultimately, only one of the bills was signed into law: one requiring the state to provide media literacy resources for public school teachers. We did get the chance to talk to California Senator John Moorlach, who told us the legislative efforts are politically-driven.

There are proposals to teach media literacy in public schools. What is your feeling about that?

JOHN MOORLACH: Well, two things. One is: the state legislature has not reacted well to the election of Donald Trump to the Presidency of the United States. So, there are a lot of barbs that keep being thrown that way. But two, our educational system isn't something to brag about necessarily. I'd be happy if we could teach our kids to read, you know, do math and, and understand, you know, basic science concepts, than to worry about fake news.

MICKEY HUFF: I like to give at least some benefit of the doubt that there are some people involved in these efforts that have integrity and are well-intentioned.

SHARYL ATTKISSON: California-based “Project Censored,” a media watchdog group, has been teaching college-focused media literacy since 1976. Director Mickey Huff is wary of some of the newer efforts.

MICKEY HUFF: I can't, however, help but be suspicious because the way in which that, that these things have been rolled out and “media literacy” is now a buzz phrase, right? The whole fighting of fake news has become a Trojan horse to propel other agendas. And in the name of telling us what is fake news, we're also seeing more censorship, whether, again, it's algorithmically through bots, through filter bubbles, whether it's outsourcing fact checkers, right? Like Snopes or Politifact.

SHARYL ATTKISSON: But do you suspect there are special interest behind some of these efforts that are actually trying to shape opinion and do the opposite of what they say they're trying to do?

MICKEY HUFF: Absolutely. And the name of fighting fake news is purposely suppressing certain views, certain narratives, certain sources. And so at Project Censored, we believe that that is a very problematic effort. It, unfortunately, does get to masquerade in sort of a “do good” capacity. In other words, who's going to be against media literacy if we're trying to fight fake news?

SHARYL ATTKISSON: It sounds good.

MICKEY HUFF: Sounds fantastic. Until you realize how certain groups are doing it.

SHARYL ATTKISSON: On the front lines are college students like Edward Jacobs. He took an independent pilot course in media literacy last year while he was in high school. What did he learn? To be skeptical of the curators.

EDWARD JACOBS: The very idea that there should be some middlemen curating what ideas we're exposed to is very dangerous. Even if it were someone who agreed with what our personal opinions were, that would in effect restrict us from being exposed to many different viewpoints and that’s really something that our country doesn't need, especially among the youth demographic today.

SHARYL ATTKISSON: It’s Phil Dunn who taught the high school course that Eddie took. As a student of media manipulation and author of “Media Collusion,” Dunn says the key is critical thinking, not pushing curated views.

PHIL DUNN: When you talk about media literacy that the people that want to teach that are oftentimes invested in certain kind of legacy media outfits, the New York Times, The Washington Post, the big three networks, CNN, Fox, all of them would love to tell you what to listen to and, and how to listen to it. And I think you can throw in Google and Facebook as well because it's on the right side and it's chosen and may be censored and maybe curated, you know, we put quotes around curated.

SHARYL ATTKISSON: To be clear, in your class, you don't teach the kids, “rely on this source, go to the New York Times, trust the Washington Post or Fox News?”

PHIL DUNN: Nope.

SHARYL ATTKISSON: What do you teach them instead?

PHIL DUNN: How to look, where to look. What to discover about who's telling you what's fake and what's not. I mean, there's a chapter on Snopes in there and Snopes has its own people that have their own bias.

SHARYL ATTKISSON: Perhaps best put we may need media literacy instruction to determine which media literacy efforts are genuine. And which may be just attempts to shape and manipulate.

What would your advice be to people who hear what sound like well-meaning efforts to curate their information, to sort out fake news, to make kids understand media literacy by teaching them in elementary school or middle school or high school?

MICKEY HUFF: I would say, well, one of the basic things is who benefits from that education? Who's forming the curriculum, who's funding it? If it's coming through government, who's funding the particular sponsors of the bills? Who has a seat at the table? And I think the only thing that we really have at the end of the day is our own capacity to think critically and independently.

SHARYL ATTKISSON: One new media literacy effort is called MediaWise, which aims to educate teens with social media and a teacher curriculum developed by Stanford. They've started a teen fact-checking network and are working with YouTube to produce videos. MediaWise is funded by Google.

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NHL notebook: Knights acquire Stone at deadline

NHL: Ottawa Senators at Winnipeg Jets
FILE PHOTO - Feb 16, 2019; Winnipeg, Manitoba, CAN; Ottawa Senators forward Mark Stone (61) reacts after a goal against the Winnipeg Jets during the first period at Bell MTS Place. Mandatory Credit: Terrence Lee-USA TODAY Sports

February 26, 2019

The Vegas Golden Knights agreed to a contract extension with Mark Stone on Monday, shortly after they acquired the right winger from the Ottawa Senators.

The contract will be for eight years and worth an average of $9.5 million per season, Bob McKenzie of TSN reported. Stone confirmed with the network that he and the team have agreed to a deal but declined to confirm the terms.

The Senators received highly regarded defensive prospect Erik Brannstrom (the No. 15 overall pick in the 2017 NHL Draft), forward Oscar Lindberg and a 2020 second-round draft pick that originally belonged to the Dallas Stars.

Stone, 26, has 28 goals and 34 assists (62 points) in 59 games this season. He was set to become an unrestricted free agent following the season.

–The Pittsburgh Penguins made two deals for defensemen, acquiring Erik Gudbranson from the Vancouver Canucks for forward Tanner Pearson, and netting Chris Wideman from the Florida Panthers for forward Jean-Sebastien Dea.

–The Winnipeg Jets acquired forward Kevin Hayes from the New York Rangers for forward Brendan Lemieux and a 2019 first-round draft pick.

The Jets then closed out trade-deadline day with five more moves, bringing back forward Matt Hendricks from the Minnesota Wild for a seventh-round pick in 2020, landing forward Par Lindholm from the Toronto Maple Leafs for forward Nic Petan, getting defenseman Nathan Beaulieu from the Buffalo Sabres for a sixth-round selection in 2019 and acquiring defenseman Bogdan Kiselevich from the Panthers for a seventh-round selection in 2019.

In the Jets’ final move of the day, they acquired forward Alex Broadhurst from the Columbus Blue Jackets for future considerations.

–The Philadelphia Flyers traded veteran forward Wayne Simmonds to the Nashville Predators for forward Ryan Hartman and a conditional fourth-round draft pick in 2020. Simmonds, 30, had 16 goals and 11 assists in 62 games for Philadelphia this season.

–The Predators also traded forward Kevin Fiala to the Wild for veteran winger Mikael Granlund in a swap of former first-round draft picks.

–The Blue Jackets acquired veteran defenseman Adam McQuaid from the Rangers for AHL defenseman Julius Bergman and two 2019 draft picks. New York received fourth- and seventh-round selections.

Columbus also acquired goaltender Keith Kinkaid from the New Jersey Devils in exchange for a fifth-round pick in the 2022 NHL Draft.

–The St. Louis Blues added defenseman Michael Del Zotto from the Anaheim Ducks in exchange for a sixth-round draft pick.

–Prior to Colorado’s Monday night contest against Florida, the Avalanche acquired forward Derick Brassard and a reported conditional 2020 sixth-round draft pick from the visiting Panthers in exchange for a third-round pick in 2020.

–The Montreal Canadiens acquired center Jordan Weal from the Arizona Coyotes on for center Michael Chaput. Both players turn 27 in April, and both were selected in the third round of the 2010 NHL Draft.

–The Carolina Hurricanes acquired forward Tomas Jurco from Florida and dealt forward Cliff Pu to the Panthers in separate trades Monday. In both transactions, the teams are receiving future considerations in return.

–The Boston Bruins acquired forward Marcus Johansson from the Devils in exchange for a second-round pick in 2019 and a fourth-rounder in 2020.

–The Calgary Flames acquired defenseman Oscar Fantenberg from the Los Angeles Kings for a conditional 2020 fourth-round draft pick.

–The Canucks acquired 19-year-old forward Linus Karlsson from the San Jose Sharks in exchange for 21-year-old forward Jonathan Dahlen.

–The Wild and center Eric Staal agreed to a two-year, $6.5 million deal shortly after the trade deadline. Staal, 34, had been slated to become an unrestricted free agent after the season.

–The Rangers signed forwards Boo Nieves and Steven Fogarty to one-year extensions. Terms were not released, but TSN reported the value of Nieves’ deal at $700,000. Nieves was set to become an unrestricted free agent in July.

–Buffalo right winger Kyle Okposo cleared concussion protocol and played in the Sabres’ Monday road game against the Maple Leafs. Okposo had been sidelined since being punched in the chin by Rangers defenseman Tony DeAngelo on Feb. 15. It was his third diagnosed concussion in three years.

–Chicago Blackhawks goaltender Corey Crawford, who has recovered from a concussion, was activated by the team. Crawford, 34, was sidelined more than two months after his second concussion in less than a year. Chicago removed Crawford from injured reserve and assigned goaltender Collin Delia to Rockford of the AHL.

–Field Level Media

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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Source: InfoWars

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