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UK lawmakers want Big Four accounting firms broken up

FILE PHOTO: Logo of Ernst & Young is seen at a branch in Zurich
FILE PHOTO: The logo of Ernst & Young is seen at a branch in Zurich, Switzerland October 24, 2018. REUTERS/Arnd Wiegmann

April 1, 2019

By Huw Jones

LONDON (Reuters) – Britain’s “Big Four” accounting firms should be broken up to improve standards and transparency in book-keeping after audit failures at construction company Carillion and retailer BHS, British lawmakers said on Tuesday.

Parliament’s business committee urged Britain’s Competition and Markets Authority (CMA) to force EY, KPMG, Deloitte and PwC to legally separate audit and consultancy services.

The CMA published interim proposals last December to require a less draconian operational separation of auditing and more lucrative consultancy to avoid the former being cross-subsidized and prioritized by the latter.

The CMA has yet to publish final recommendations.

The report seeks to keep up reform momentum after past attempts to end the so-called Big Four’s dominance of book-keeping made little headway.

EY, KPMG, Deloitte and PwC have sought to head off being split up by voluntarily agreeing not to offer consultancy services to audit clients.

The cross-party report said that if the CMA opts for only operational separation, it should be reviewed after three years to see if it ends cross-subsidies and improved audit quality.

“If not, we recommend that the CMA then move to implement a full structural break-up of the Big Four into audit and non-audit businesses in the UK,” the report said.

Deloitte said a structural split would harm audit quality, and could materially damage Britain’s competitive position as a leading capital market. The “Big Four” are global but the reforms could only apply in Britain.

They check the books of nearly all large listed companies, employing thousands more partners than their nearest rivals like Grant Thornton and BDO.

MARKET CAP

The CMA proposed joint audits for all of Britain’s top 350 listed companies, meaning a smaller accounting firm would have to be hired alongside any appointment of a “Big Four” firm.

But the lawmaker report takes a more cautious approach by recommending a pilot of joint audits in the “upper reaches” of the top 100 companies, but supplemented with a “segmented” market cap on the Big Four for the rest of the top 350 companies.

The CMA kept market caps in reserve despite proposals last year from the top four accounting firms to help challengers get the experience to audit bigger customers.

The government should also examine if special safeguards are needed for auditing banks, the report said.

It also looks at “imprudent” dividends paid by companies like Carillion from profits that were either optimistically booked or unrealized.

The government and the Financial Reporting Council, which polices accountants, should urgently produce a prudent definition for realized profits and tighten the UK dividend regime, the report said.

Auditors should also play a key role in spotting fraud, it added. A separate, independent review recommended last December replacing the FRC with a more powerful body.

The government is expected to propose legislation to implement the audit shake up once the CMA has published its final recommendations in coming weeks.

(Reporting by Huw Jones; editing by Emelia Sithole-Matarise)

Source: OANN

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Exclusive: In rare move, French warship passes through Taiwan Strait

FILE PHOTO: A tugboat escorts French Navy frigate Vendemiaire on arrival for a goodwill visit at a port in Metro Manila
FILE PHOTO: Tugboat escorts French Navy frigate Vendemiaire on arrival for a 5-day goodwill visit at a port in Metro Manila, Philippines March 12, 2018. REUTERS/Romeo Ranoco/File Photo

April 24, 2019

By Idrees Ali and Phil Stewart

WASHINGTON (Reuters) – A French warship passed through the strategic Taiwan Strait this month, U.S. officials told Reuters, a rare voyage by a vessel of a European country that is likely to be welcomed by Washington but increase tensions with Beijing.

The passage is a sign that U.S. allies are increasingly asserting freedom of navigation in international waterways near China. It could open the door for other allies, such as Japan and Australia, to consider similar operations.

The French operation comes amid increasing tensions between the United States and China. Taiwan is one of a growing number of flashpoints in the U.S.-China relationship, which also include a trade war, U.S. sanctions and China’s increasingly muscular military posture in the South China Sea, where the United States also conducts freedom of navigation patrols.

Two officials, speaking on condition of anonymity, said a French military vessel carried out the transit in the narrow waterway between China and Taiwan on April 6.

One of the officials identified the warship as the French frigate Vendemiaire and said it was shadowed by the Chinese military. The official was not aware of any previous French military passage through the Taiwan Strait.

The officials said that as a result of the passage, China notified France it was no longer invited to a naval parade to mark the 70 years since the founding of China’s Navy. Warships from India, Australia and several other nations participated.

Colonel Patrik Steiger, the spokesman for France’s military chief of staff, declined to comment on an operational mission.

The U.S. officials did not speculate on the purpose of the passage or whether it was designed to assert freedom of navigation.

MOUNTING TENSIONS

The French strait passage comes against the backdrop of increasingly regular passages by U.S. warships through the strategic waterway. Last month the United States sent Navy and Coast Guard ships through the Taiwan Strait.

The passages upset China, which claims self-ruled Taiwan as part of its territory. Beijing has been ramping up pressure to assert its sovereignty over the island.

Chen Chung-chi, spokesman for Taiwan’s defense ministry, told Reuters by phone the strait is part of busy international waters and it is “a necessity” for vessels from all countries to transit through it. He said Taiwan’s defense ministry will continue to monitor movement of foreign vessels in the region.

There was no immediate comment from China’s foreign or defense ministries.

“This is an important development both because of the transit itself but also because it reflects a more geopolitical approach by France towards China and the broader Asia Pacific,” said Abraham Denmark, a former U.S. deputy assistant secretary of defense for East Asia.

The transit is a sign that countries like France are not only looking at China through the lens of trade but from a military standpoint as well, Denmark said.

Last month France and China signed deals worth billions of euros during a visit to Paris by Chinese President Xi Jinping. French President Emmanuel Macron wants to forge a united European front to confront Chinese advances in trade and technology.

“It is important to have other countries operating in Asia to demonstrate that this is just not a matter of competition between Washington and Beijing, that what China has been doing represents a broader challenge to a liberal international order,” Denmark, who is currently with the Woodrow Wilson Center think-tank in Washington, added.

Washington has no formal ties with Taiwan but is bound by law to help provide the democratically ruled island with the means to defend itself and is its main source of arms.

(Reporting by Idrees Ali and Phil Stewart in Washington; Additional reporting by Sophie Louet in Paris, Yimou Lee in Taipei and Ben Blanchard in Beijing; Editing by James Dalgleish)

Source: OANN

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Caracas, once a thriving metropolis, is struggling as country plunges further into chaos

Caracas at night was like many major cities around the world – crazy traffic, people going in and out of shops, eateries, and dance clubs -- but now, as night falls in the Venezuelan capital, it seems more and more like a ghost town.

Many street lights don’t work. Residents avoid stepping outside their homes due to crime — or for lack of anything to spend — as a creeping economic collapse has accelerated amid a political battle between socialist President Nicolas Maduro and his foes at home and abroad. A string of devastating nationwide blackouts last month dramatized the decay.

Even under the light of day, billboards often have nothing to promote, their skeletal framework bare long after the wind has ripped away old advertising.

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As dusk falls, many storefronts are just graffiti-scrawled security doors chained shut. Often just a single business along a city block is able to stay open, awaiting sparse customers. Others close earlier, like a beauty salon, the few remaining clients forced to decide between the simple luxury of haircut or buying food.

Caracas’ La Mercedes neighborhood, famous for its upscale shopping and nightlife, hasn’t been spared. Many of its pubs and fancy restaurants are devoid of waiters and customers. A shopping mall keeps its lights on, but the doors lock hours earlier than they did before, when they teemed with life.

The moon rises above an empty avenue in Caracas, Venezuela, late Thursday, March 21, 2019. Residents avoid stepping outside their homes due to crime, or for lack of anything to spend. (AP Photo/Natacha Pisarenko)

The moon rises above an empty avenue in Caracas, Venezuela, late Thursday, March 21, 2019. Residents avoid stepping outside their homes due to crime, or for lack of anything to spend. (AP Photo/Natacha Pisarenko)

High-rise buildings stand unfinished, the workers having long ago abandoned their jobs. Windows are covered over with cardboard rather than finished with glass.

Residents desperate for cash transform patches of sidewalk into their impromptu shops, laying out old shoes or second-hand shirts as merchandise.

The poor and hungry scour through household trash, scattering it across street corners before it’s collected, grabbing anything they can use or eat.

The despair and blight mark a precipitous fall for a country that has larger oil reserves than Saudi Arabia and that had one of Latin America’s highest living standards.

Maduro blames his domestic political opponents and the increasing grip of U.S. economic sanctions, which he says are part of a coup aimed at toppling his socialist government.

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The opposition, led by lawmaker Juan Guaidó, blames years of corrupt leadership, lack of investment and economic bungling that has left the country dependent on a collapsing oil sector and on remittances sent home by the millions who have fled the growing hardship.

Meanwhile, on Wednesday, 15 U.S. senators introduced bipartisan legislation to provide $400 million in new aid, internationalize sanctions and ease penalties on Venezuelan officials who recognize Guaidó as the country's president.

Maduro still retains the support of much of the Venezuelan's military, including its hierarchy, and still gets aid from countries such as Russia, Cuba and China.

David Smilde, a Venezuela expert at Tulane University, wrote in The Conversation: "Russia has become Maduro’s most important ally. The Russian military equipment and personnel sent in March will likely help maintain and operate Venezuela’s sophisticated Russian-made S-300 air defense system, which protects the capital and key military bases from air attack."

The Associated Press contributed to this report.

Source: Fox News World

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Prosecutors drop most remaining cases in fatal prison riot

Delaware prosecutors are dismissing all but three remaining cases against inmate defendants charged in a deadly prison riot.

Friday's decision comes after earlier trials of seven inmates resulted in only one convicted of murder in guard Steven Floyd's death.

With little physical evidence, prosecutors have relied heavily on testimony from other inmates who were in the building at Delaware's maximum-security prison during the 2017 riot but were not among the 18 charged.

Defense attorneys have argued that the prosecution witnesses have contradicted one another and that their testimony conflicts with statements they gave investigators.

Floyd was killed and two other guards beaten and later released before tactical teams stormed the building and rescued a female counselor.

Source: Fox News National

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Egypt’s Sisi meets Libyan commander Haftar in Cairo: presidency spokesman

Egypt President Abdel Fattah al-Sisi is seen during a news conference at the Presidential Palace in Abidjan
Egypt President Abdel Fattah al-Sisi is seen during a news conference at the Presidential Palace in Abidjan, Ivory Coast, April 11, 2019. REUTERS/Thierry Gouegnon

April 14, 2019

CAIRO (Reuters) – Egypt’s President Abdel Fattah al-Sisi met Libyan commander Khalifa Haftar in Cairo on Sunday to discuss developments in Libya, Sisi’s spokesman said.

No other details about the meeting were immediately available. Haftar’s forces have been conducting a military offensive to take control of the capital, Tripoli, since early April.

(Reporting by Mohamed Wali; Writing by Aidan Lewis; Editing by Jan Harvey)

Source: OANN

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Pelosi says Trump using 9/11 images for ‘political attack’

President Donald Trump has weighed in on the most recent controversy involving Rep. Ilhan Omar, retweeting video edited to suggest that the Minnesota Democrat was dismissive of the significance of the Sept. 11 attacks.

House Speaker Nancy Pelosi said the president "shouldn't use the painful images of 9/11 for a political attack."

The video pulls a snippet of Omar's speech last month to the Council on American-Islamic Relations in which she described the 2001 terrorist attacks on the World Trade Center as "some people did something," as well as news footage of the hijacked planes hitting the towers. Trump on Friday tweeted, "WE WILL NEVER FORGET!"

Omar's remark has drawn criticism largely from political opponents and conservatives. They say Omar, one of the first Muslim women to serve in Congress, offered a flippant description of the assailants and the attacks on American soil that killed nearly 3,000 people.

Neither Trump's tweet nor the video includes her full quote or the context of her comments.

Omar told CAIR in Los Angeles that many Muslims saw their civil liberties eroded after the attacks, and she advocated for activism.

"For far too long we have lived with the discomfort of being a second-class citizen and, frankly, I'm tired of it, and every single Muslim in this country should be tired of it," she said in the March 23 speech, according to video posted online. "CAIR was founded after 9/11 because they recognized that some people did something and that all of us were starting to lose access to our civil liberties."

CAIR was founded in 1994, according to its website, but its membership increased dramatically after the attacks.

Many Republicans and conservative outlets expressed outrage at Omar's remarks.

"First Member of Congress to ever describe terrorists who killed thousands of Americans on 9/11 as 'some people who did something,'" tweeted Rep. Dan Crenshaw, R-Texas. The retired Navy SEAL lost his right eye in 2012 in an explosion in Afghanistan.

"Here's your something," the New York Post blared on its cover beneath a photograph of the flaming towers.

Pelosi said in a statement released Saturday while she was in Germany visiting American troops that "the memory of 9/11 is sacred ground, and any discussion of it must be done with reverence." She said "it is wrong for the president, as commander-in-chief, to fan the flames to make anyone less safe."

Omar doesn't seem to be backing down.

She tweeted a quote from former President George W. Bush shortly after the attacks, when he said: "'The people — and the people who knocked these buildings down will hear all of us soon!"

"Was Bush downplaying the terrorist attack?" Omar tweeted. "What if he was a Muslim."

Several of the 2020 Democratic presidential candidates condemned Trump's tweet.

"Someone has already been charged with a serious threat on Congresswoman Omar's life. The video the president chose to send out today will only incite more hate," said Minnesota Sen. Amy Klobuchar. "You can disagree with her words — as I have done before — but this video is wrong. Enough.

Sen. Bernie Sanders of Vermont said Omar "won't back down to Trump's racism and hate, and neither will we."

And Sen. Elizabeth Warren of Massachusetts accused Trump "of inciting violence against a sitting congresswoman — and an entire group of Americans based on their religion."

Omar has repeatedly pushed fellow Democrats into uncomfortable territory over Israel and the power of the Jewish state's influence in Washington. She apologized for suggesting that lawmakers support Israel for pay and said she isn't criticizing Jews. But she refused to take back a tweet in which she suggested that American supporters of Israel "pledge allegiance" to a foreign country.

Her comments sparked an ugly episode among House Democrats when they responded with a resolution condemning anti-Semitism became a broader declaration against all forms of bigotry.

Source: Fox News National

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FILE PHOTO: The logo of the OPEC is seen at OPEC's headquarters in Vienna
FILE PHOTO: The logo of the Organisation of the Petroleum Exporting Countries at OPEC’s headquarters in Vienna, Austria December 5, 2018. REUTERS/Leonhard Foeger/File Photo

April 26, 2019

JOINT BASE ANDREWS, Md. (Reuters) – U.S. President Donald Trump said on Friday he called the Organization of the Petroleum Exporting Countries and told the cartel to lower oil prices.

“Gasoline prices are coming down. I called up OPEC, I said you’ve got to bring them down. You’ve got to bring them down,” Trump told reporters.

(Reporting by Roberta Rampton; Writing by Makini Brice; Editing by Chizu Nomiyama)

Source: OANN

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Sonia Bompastor, director of the Olympique Lyonnais womenÕs Youth Academy, leads a training at the OL Academy near Lyon
Sonia Bompastor, director of the Olympique Lyonnais womenÕs Youth Academy, leads a training at the OL Academy in Meyzieu near Lyon, France, April 16, 2019. REUTERS/Emmanuel Foudrot

April 26, 2019

By Julien Pretot

MEYZIEU, France (Reuters) – Olympique Lyonnais president Jean-Michel Aulas was wringing out his women’s team shirts in the locker room on a rainy London day eight years ago when he decided it was time to take gender equality more seriously.

It was halftime in their Champions League semi-final second leg against Arsenal at Meadow Park with 507 fans watching and Aulas realized that his players did not have a another kit for the second half.

“Next time, there will be a second set just like for the men, that’s how it’s going to work from now on,” he said.

Lyon have since won five Champions League titles to become the most successful women’s team in Europe and recently claimed a 13th consecutive domestic crown.

They visit Chelsea on Sunday in the second leg of their Champions League semi-final, with a fourth straight title in their sights.

At the heart of their achievements is a pervasive ethos that promotes gender equality throughout the club, starting in the youth academy.

In 2013, Aulas appointed former Lyon and France player Sonia Bompastor as head of the Women’s Academy — the female equivalent of one of France’s top youth set-ups that has produced players such as Karim Benzema, Alexandre Lacazette and Hatem Ben Arfa.

At the Youth Academy, girls and boys share the same facilities.

“Pitches, physiotherapy rooms are the same for all,” the 38-year-old Bompastor told Reuters.

As the girls train under the watch of former Lyon and France international Camille Abily, the screams of the boys practicing can be heard nearby.

The boys and girls also benefit from the same psychological support that includes hypnosis sessions and yoga.

“We have a ‘mental ability’ cell and the hypnotist acts on the girls’ subconscious, on their deeply held beliefs after observing them on and off the pitch,” Bompastor added.

SAME TREATMENT

One message the Academy staff are trying to convey is that girls are as good as boys.

“Women’s nature is such that we have low self-esteem. So self-esteem is a big topic for our girls,” said Bompastor.

This is not the case with the boys, she added.

“Some 14, 15-year-old boys still think they would beat our professional players, we tell them this would not be happening. We still need to work on those beliefs,” she said.

Female players also have to face questions that their male counterparts do not, Bompastor explained.

“In France there is a problem with the way women are considered, there are high aesthetic expectations. So we get heavy questions on femininity, intimate questions that men don’t get,” she said.

OL’s Academy has been held up as a shining example for others to follow, even in the U.S., where women’s soccer has a wider audience than in Europe.

“About one third of the (senior women’s) squad comes from the Academy, we have a good balance,” said Bompastor.

“I’m getting tons of requests from American universities and foreign clubs, who want to come and visit our facilities.”

‘ONE CLUB’

The salaries of the senior players is one area where there remains a large discrepancy between Lyon’s men’s and women’s teams.

While the three best-paid women players in the world are at Lyon with Ballon d’Or winner Ada Hegerberg earning 400,000 euros ($445,520) a year, this figure is dwarfed by the around 4 million euros earned annually by men’s player Memphis Depay.

There is, however, a level of interaction between the men’s and women’s players that is not present at many other clubs.

“When you talk about OL you talk about women and men, you talk about one club and you feel it when you are here or outside in the city,” Germany defender Carolin Simon told Reuters.

“We see it when we play in the big stadium. It’s not ‘normal’ for women’s football,” the 26-year-old, who joined the club last year, added.

Lyon’s female players also enjoy respect from their male counterparts, Simon said.

“It’s very cool, it’s a big honor to feel that it doesn’t matter if you are a professional man or woman. We talk with the men, there are handshakes, it’s a good atmosphere and it’s also why we are successful,” said Simon.

“The men respect us and it’s not just for the cameras.”

Her team mate, England’s Lucy Bronze, sees the men’s respect as key to improving women’s football.

“We might not be paid the same but they are just normal with us, they see us as footballers the same as they are,” Bronze told Reuters.

“Being at Lyon has really opened my eyes. To improve women’s football, it starts with having the respect of your male counterparts. It’s the biggest thing because they can influence so many people.”

(Reporting by Julien Pretot; Editing by Toby Davis)

Source: OANN

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FILE PHOTO: Ethiopian migrants, stranded in war-torn Yemen, sit on the ground of a detention site pending repatriation to their home country, in Aden, Yemen
FILE PHOTO: Ethiopian migrants, stranded in war-torn Yemen, sit on the ground of a detention site pending repatriation to their home country, in Aden, Yemen April 24, 2019. REUTERS/Fawaz Salman/File Photo

April 26, 2019

GENEVA (Reuters) – Yemeni authorities have rounded up about 3,000 irregular migrants, predominantly Ethiopians, in the south of the country, “creating an acute humanitarian situation,” the U.N. migration agency said on Friday.

“IOM is deeply concerned about the conditions in which the migrants are being held and is engaging with the authorities to ensure access to the detained migrants,” the International Organization for Migration said.

The migrants are held in open-air football stadiums and in a military camp, it said in a statement.

The detentions began on Sunday in the city of Aden and the neighboring province of Lahj, which are under the control of the internationally recognized government backed by Saudi Arabia and the United Arab Emirates. Iran-aligned Houthi rebels control Sanaa, the capital, and other major urban centers.

Both sides are under international diplomatic pressure to implement a United Nations-sponsored ceasefire deal agreed last year in Sweden and to prepare for a wider political dialogue that would end the four-year-old war.

Thousands of migrants arrive in Yemen every year, mostly from the Horn of Africa, driven by drought and unemployment at home and lured by the wages available in the Gulf.

(Writing by Maher Chmaytelli, Editing by William Maclean)

Source: OANN

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U.S. dollar notes are seen in this picture illustration
U.S. dollar notes are seen in this November 7, 2016 picture illustration. Picture taken November 7. REUTERS/Dado Ruvic/Illustration

April 26, 2019

(Reuters) – Following are five big themes likely to dominate thinking of investors and traders in the coming week and the Reuters stories related to them.

1/DOLLAR JUGGERNAUT

The dollar has zipped to near two-year highs, leaving many scratching their heads. To many, it’s down to signs the U.S. economy is chugging ahead while the rest of the world loses steam. After all, Wall Street is busily scaling new peaks day after day.

Never mind the cause, the effect is stark. The euro has tumbled to 22-month lows against the dollar and investors are preparing for more, buying options to shield against further downside. Emerging-market currencies are also in pain, with Turkish lira and Argentine peso both sharply weaker.

Now U.S. data need to keep surprising on the upside or even just meet expectations. The International Monetary Fund sees U.S. growth at 2.3 percent this year. For Germany, the forecast is 0.8 percent. The U.S. economy’s rude health has given rise to speculation the Fed might resume raising interest rates. Unlikely. But as other countries — Canada, Sweden and Australia are the latest — hint at more policy easing, there seems to be one way the dollar can go. Up.

(GRAPHIC: Dollar outperforms G10 FX – https://tmsnrt.rs/2Dz17S5)

2/FED: UP OR DOWN?

Wall Street is near record highs and recession worries are receding, so as we mentioned above, investors might wonder if the Federal Reserve will start raising rates again.

Such a pivot is unlikely after the Fed killed off rate-rise expectations at its March meeting. And the latest Reuters poll all but puts to bed any risk of rates will go up this economic cycle, given inflation remains below the Fed’s alarm threshold and unemployment is the lowest in generations.

Before the March rate-pause announcement, a preponderance of economists penciled in one or more increases this year. But that has flipped. A majority of those surveyed April 22-24 see no further tightening through December and more are leaning toward a cut by the end of next year.

Indeed, interest rate futures imply Fed Funds will be below the current 2.25-2.50 percent target range by this December.

Recent positive consumer spending and exports data have eased market concerns of a sharp economic slowdown. But inflation probably needs to run hot for a long period to panic policymakers off their wait-and-see course.     

(GRAPHIC: Federal funds and the economy – https://tmsnrt.rs/2DzjTZz)

3/HEISEI TO REIWA

Next week ends three decades of Japan’s Heisei era. Heisei, or Achieving Peace, began in 1989 near the peak of a massive stock market bubble and closes with the country trapped in low growth, no inflation, and negative interest rates.

The new era that dawns on May 1 is called Reiwa, meaning Beautiful Harmony. It begins when Crown Prince Naruhito ascends the Chrysanthemum Throne. But do investors really want harmony? What they want to see is a bit of economic growth and inflation to shake up the status quo.

The Bank of Japan’s stimulus toolkit to revive a long-suffering economy is anything but harmonious and yet it’s set to stay. The central bank confirmed recently rates will stay near zero for a long time. But the coming days may not be harmonious or peaceful for currency markets. A 10-day Golden Week holiday kicks off on April 29 and investors are fretting over the risk of a “flash crash” – a violent currency spasm that can occur in times of thin trading turnover.

The year has already seen two yen spikes and many, including Japan’s housewife-trader brigade – so-called Mrs Watanabes – appear to have bought yen as the holiday approaches. Their short dollar/long yen positions recently reached record highs, stock exchange data showed.

(GRAPHIC: Japan stocks: from Hensei to Reiwa – https://tmsnrt.rs/2W6a7Fe)

4/EARNING TURNING

Quarterly earnings were supposed to be the worst in Europe in almost three years, but with a third of results in, things are looking a little rosier.

Two-thirds of companies’ results have beat expectations, and they point to earnings growth of 4.5 percent year-on-year. Financials have delivered the biggest surprises, according to analysis by Barclays.

That might just show how low expectations were. In fact, analysts are still taking a red pen to their estimates.

The latest I/B/E/S data from Refinitiv shows analysts on average expect first-quarter earnings-per-share for STOXX 600-listed companies to fall 4.2 percent. That would be their worst quarter since 2016 and down sharply from an estimated 3.4 percent just a week earlier.

Those estimates may end up being a little too bearish as earnings season goes on, quelling worries that Europe is heading toward a corporate recession.

GSK and Reckitt Benckiser will give the market a glimpse of the health of the consumer products market and spending on everything from toothpaste, washing powder and paracetamol.

(GRAPHIC: Earnings forecasts – https://tmsnrt.rs/2DuO2ZF)

5/WAITING FOR THE OLD LADY

Sterling has gone into the doldrums amid the Brexit delay and unproductive talks between the UK government and the opposition Labour party on a EU withdrawal deal. The resurgent dollar, meanwhile, has taken 2 percent off the pound in April. It is unlikely the Bank of England will be able to rouse it at its May 2 meeting.

Despite robust retail and jobs data of late, the economic picture is gloomy – 2019 growth is likely to be around 1.2 percent, the weakest since 2009, investment is down and Governor Mark Carney says business uncertainty is “through the roof”.

Indeed, expectations for an interest rate increase have been whittled down; Reuters polls forecast rates will not move until early 2020, a calendar quarter later than was forecast a month ago. The hunt for a new governor to replace Carney in October adds more uncertainty to the mix.

The recent run of UK data has fueled hopes of economic rebound. That’s put net hedge fund positions in the pound into positive territory for the first time in nearly a year. The Old Lady of Threadneedle Street might temper some of that optimism.

(GRAPHIC: Sterling positions – https://tmsnrt.rs/2XJwUXX)

(Reporting by Alden Bentley in New York, Vidya Ranganathan in Singapore; Karin Strohecker, Josephine Mason and Saikat Chatterjee in London; compiled by Sujata Rao; edited by Larry King)

Source: OANN

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Democratic presidential candidate Elizabeth Warren suggested that doctors and nurses don’t treat African American women the same way they do white women.

Warren appeared on Wednesday together with a number of other 2020 Democratic candidates at the She The People Forum in Houston, discussing issues concerning women of color.

WARREN’S $1.25T EDUCATION PLAN ‘SWEEPING’ GIVEAWAY TO THE WEALTHY AT EXPENSE OF THE POOR, WAPO EDITORIAL BOARD SAYS

The Massachusetts senator announced on stage a plan to decrease the childbirth mortality rate among black women while identifying a systematic problem with how they are treated.

“And there is a specific problem, as you rightly identified, for women of color who are three, four times more likely to die in childbirth,” Warren said.

“And here’s the thing, even after we do the adjustments for income, for education, this is true across the board. This is true for well-educated African American women, for wealthy African American women, and the best studies that I’m seeing put it down to just one thing, prejudice,” she added.

“That doctors and nurses don’t hear African American women’s medical issues the same way that they hear the same things from white women.”

“That doctors and nurses don’t hear African American women’s medical issues the same way that they hear the same things from white women.”

— Elizabeth Warren

CHARLIE KIRK: WARREN AND OTHER DEMS OFFER FREE MONEY – BUT DON’T TELL YOU PRICE WILL BE YOUR FREEDOM

Warren went on to get into details of her plan, noting that hospitals will be given bonuses if they manage to reduce the childbirth mortality rate among black women in an effort to give financial incentives for those doctors and nurses to provide better care.

“And if they don’t, then they’re going to have money taken away from them,” Warren added.

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“I want to see the hospitals see it as their responsibility to address this problem head-on and make it a first priority. The best way to do that is to use the money to make it happen because we gotta have change, and we gotta have change now.”

Source: Fox News Politics

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