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India further delays retaliatory tariffs on U.S. products: official

FILE PHOTO - A worker sits on a ship carrying containers at Mundra Port in the western Indian state of Gujarat
FILE PHOTO: A worker sits on a ship carrying containers at Mundra Port in the western Indian state of Gujarat April 1, 2014. REUTERS/Amit Dave/File Photo

April 26, 2019

(Reuters) – India has once again delayed the implementation of higher tariffs on some goods imported from the United States to May 15, a government official said on Friday.

The new tariff structure was to come into force from May 2, the spokeswoman said without citing reasons for the delay.

Angered by Washington’s refusal to exempt it from new steel and aluminum tariffs, New Delhi decided in June last year to raise the import tax from Aug. 4 on some U.S. products including almonds, walnuts and apples.

But since then, New Delhi has repeatedly delayed the implementation of the new tariff.

Trade friction between India and the U.S. has escalated after U.S. President Donald Trump announced plans earlier this year to end preferential trade treatment for India that allows duty-free entry for up to $5.6 billion worth of its exports to the United States.

In a further blow, U.S. on Monday demanded buyers of Iranian oil stop purchases by May or face sanctions, ending six months of waivers which allowed Iran’s eight biggest buyers including India to continue importing limited volumes.

(Reporting by Manoj Kumar in New Delhi and Kanishka Singh in Bengaluru; Editing by Anil D’Silva and Raissa Kasolowsky)

Source: OANN

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Cathay Pacific CEO ‘relatively confident’ air cargo market will pick up in second half

FILE PHOTO: A Cathay Pacific Airways Airbus A350 airplane approaches to land at Changi International Airport in Singapore
FILE PHOTO: A Cathay Pacific Airways Airbus A350-900 airplane approaches to land at Changi International Airport in Singapore June 10, 2018. REUTERS/Tim Chong

April 17, 2019

BEIJING (Reuters) – Cathay Pacific Airways Ltd Chief Executive Rupert Hogg said he was “relatively confident” the air cargo market would pick up in the second half after a weak start to the year.

“We tend to do quite well in cargo but the volumes do go up and down due to general economic sentiment,” he told Reuters on the sidelines of a media event in Beijing on Wednesday.

“I’m relatively confident that cargo will get stronger in second half this year.”

The Hong Kong-based airline is one of the world’s largest cargo carriers and has previously said it was keeping a close eye on U.S.-China trade tensions.

Cathay Pacific has said that its cargo volumes fell by 5.5 percent in the three months ended March 31, but that the decline was smaller in March than in January and February.

The International Air Transport Association last month nearly halved its annual forecast for traffic growth in the air cargo market to 2 percent, citing trade frictions, Brexit and anti-globalization rhetoric.

(Reporting by Stella Qiu and Brenda Goh; writing by Jamie Freed; Editing by Himani Sarkar)

Source: OANN

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Police: Man buys $8 million island then steals from Kmart

A man who had just bought an $8 million island off of Key West was arrested Saturday for participating in what police described as a scheme to steal $300 in household items from Kmart.

Officials at Kmart called Key West police April 5 after they say Andrew Francis Lippi, 59, had purchased several items, including a Keurig coffeemaker and light bulbs, and returned the original boxes for a refund. But police say the boxes were stuffed with other items. For example, store officials said a basketball was inside the Keurig box.

The store's loss prevention officer provided detectives with video of Lippi buying and returning all of the items between March 30 and April 5, according to an arrest report.

The Miami Herald reports Lippi bought Thompson Island, which had been the home to the family of philanthropist Edward B. Knight. Lippi also owns the "Real World" house in Key West, where MTV shot its 17th season in 2006.

Lippi told detectives he did not change out any of the items before returning them. According to the arrest report, Lippi also told detectives the clerk should have known there was no coffee maker inside the box because of its weight. He also told officers he returned the light bulbs because they cost too much and he did not realize they'd been switched.

Lippi was charged with grand theft and booked into jail. He was also issued a trespass warning to stay away from Kmart. Jail records show he was released Sunday.

Lippi told the Herald the theft allegation is "complicated" and he'd rather not talk about it.

Source: Fox News National

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To survive trade battles, China manufacturers deploy every weapon they can

FILE PHOTO: Visitors attend the China Import and Export Fair, also known as Canton Fair, in the southern city of Guangzhou
FILE PHOTO: Visitors attend the China Import and Export Fair, also known as Canton Fair, in the southern city of Guangzhou, China April 16, 2018. REUTERS/Tyrone Siu

April 22, 2019

By John Ruwitch

GUANGZHOU, China (Reuters) – Manufacturers in China facing trade barriers are deploying an array of moves to try to keep foreign customers – giving discounts, tapping tax breaks, trimming workforces and, occasionally, shifting production overseas to skirt tariffs.

Tit-for-tat tariffs from the China-United States trade war have been costly for many. Adding to the strain on Chinese manufacturers have been European Union duties on Chinese products ranging from electric bikes to solar panels.

March brought some encouraging news for manufacturers. Industrial output rose at its fastest rate since mid-2014 and exports rebounded more than expected, while first-quarter growth was better than expected.

Still, some manufacturers who depend on U.S. sales are struggling. At the Canton Fair in southern China this past week, they put on a brave face, but feared they will need to take more measures to survive if Beijing and Washington fail to seal a trade deal.

Botou Golden Integrity Roll Forming Machine Co lost some U.S. customers when tariffs pushed up prices for its machines making light steel girders and bars for building frames, according to Hope Ha, a saleswoman.

It now offers an 8 percent discount as a sweetener.

“We have to give discounts because they pay high tariffs,” said Ha.

Ball bearing maker Cixi Fushi Machinery Co gave long-term customers a 3-5 percent discount, according to representative Jane Wang.

But that was not enough, so the company suspended a product line generating $30,000 monthly revenue, she said.

“We will wait for the agreement and then we will see again,” she said. Now, the focus is on its main market, the Middle East.

Some have been able to pass along increased costs.

UNAVOIDABLE PRICE HIKES

California-based ACOPower has increased prices about 10-15 percent on some of its made-in-China, solar-powered refrigerators, said founder Jeffrey Tang.

“We have no choice,” he said. “We must increase the price.”

Tang says his portable fridges cannot be made affordably in other countries. But if there’s no trade agreement, and tariffs rise, the equation could change.

“Maybe I’ll just ship all the components to Vietnam to do the assembly.”

Aufine Tyre rented and filled a warehouse last year in California in anticipation of anti-dumping duties, which were later imposed. In another move to circumvent tariffs, it will soon open a plant in Thailand to make tires.

Jane Liu, a sales manager, said Aufine plans to send 50 containers a month from Thailand, with 220-240 tires in each, and later expand.

Some companies at the fair cheered Beijing’s move to trim China’s value-added tax to 13 percent from 16 percent at the start of April, and its pledge of tax rebates for exports.

“Things like this give us some protection or else we would suffer losses,” said Wills Yuan, a salesman at Ningbo Yourlite Import & Export Co in Shenzhen, which produces LED lights.

Shenzhen Smarteye Digital Electronics Co, a maker of surveillance cameras, which are not on the U.S. tariff list, was able to drop prices because of the tax break, according to sales manager Simple Yu.

“We save a lot on costs, so we can sell at a low price,” he said.

EXCHANGE RATE CONCERN

But Smarteye has worries, including increasing rent and labor costs that led it to trim its workforce.

Yu said he’s also concerned about the trade war’s potential effect on the yuan-dollar exchange rate. “Before it was 6.9 per dollar, now it’s 6.7 per dollar. We worry that it will go to 6.5.”

Electric bike makers have reacted nimbly to European anti-dumping duties of between 18.8 and 79.3 percent imposed in January. Many have started assembling some bikes in Europe; Zhejiang Enze Vehicle Co does so in Poland and Finland.

“We take the battery, frame, and the other parts, package them up separately and send them over to be assembled by partners,” said sales rep Dylan Di.

Anhui Light Industries International Co, which makes products ranging from plastic protractors for math to movie theater popcorn cups, says it has lost more than 1 billion yuan $149.2 million) after U.S. President Donald Trump raised import taxes.

Still, company representative Han Geng is optimistic the trade war will get resolved.

“It’s not good for America, not good for China,” he said, expressing the view that Trump knows the trade war is hurting business and “he will end it”.

When that day comes, Han said, “we will sell to America again… We need to make money. Everybody loves money.”

($1 = 6.7024 Chinese yuan)

(Editing by Simon Webb and Richard Borsuk)

Source: OANN

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No upset alert for No. 1 seed Gonzaga in first-round rout

NCAA Basketball: NCAA Tournament-Farleigh Dickinson vs Gonzaga
Mar 21, 2019; Salt Lake City, UT, USA; Gonzaga Bulldogs forward Rui Hachimura (21) reacts after a three point basket against the Fairleigh Dickinson Knights during the first half in the first round of the 2019 NCAA Tournament at Vivint Smart Home Arena. Mandatory Credit: Kirby Lee-USA TODAY Sports

March 22, 2019

Rui Hachimura scored 21 points, Killian Tillie had a season-high 17 and top-seeded Gonzaga dominated from the start in an 87-49 beatdown of Fairleigh Dickinson in a first-round West Region game Thursday in Salt Lake City.

Gonzaga set a school record for margin of victory in an NCAA Tournament game.

Brandon Clarke had 14 points, nine rebounds and three blocks for the Bulldogs. He combined with fellow frontcourt players Hachimura and Tillie to make 21 of 32 shots against the 16th-seeded Knights.

Gonzaga, stewing for nine days after a loss in the West Coast Conference tournament championship game, was relentless from the opening tip, preventing the Knights from making a basket through the first six-and-a-half minutes.

The Bulldogs went up by 10 points with 15:49 to go in the first half, by 20 with 9:35 left and by 30 with 1:45 remaining.

Gonzaga (31-3) will play in Saturday’s second round against No. 9 Baylor, a 78-69 winner over No. 8 Syracuse later Thursday.

Fairleigh Dickinson, which defeated Prairie View 82-76 in a First Four game Tuesday, shot just 30 percent (15 of 50).

Mike Holloway Jr. and Elyjah Williams each scored 10 points to lead the Knights (21-14). Senior guard Darnell Edge, who scored 33 against Prairie View and was Northeast Conference tournament Most Valuable Player, mustered only seven against Gonzaga on 2-of-11 shooting.

The Bulldogs had a 47-30 rebounding advantage.

Gonzaga poured in the final 19 points of the first half to take a 53-17 lead into the locker room.

That marked the ninth time this season that Gonzaga reached 50 in a half, and the 53 points were six more than it scored in a 60-47 loss to Saint Mary’s in the WCC tournament title game.

Hachimura scored 14 points in the first half and had as many baskets (five) as FDU. Gonzaga had more fast-break points (18) than Fairleigh Dickinson had first-half points.

The Knights played better in the second half, needing just over seven minutes to match their first-half scoring total, but Gonzaga never faltered in winning a first-round game for the 11th consecutive year.

–Field Level Media

Source: OANN

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Russian-North Korean relations since the Korean War

North Korean leader Kim Jong Un's meeting with Russian President Vladimir Putin gives an intriguing twist to the global diplomatic push to resolve the nuclear standoff with North Korea, which appeared to hit a wall after a summit between Kim and President Donald Trump collapsed in February.

It also adds a chapter to the storied but often-strained friendship between Pyongyang and Moscow, which was forged in the blood of war and weathered by the Soviet collapse and tensions surrounding the North's pursuit of nuclear weapons.

A look at relations between the two sides since the 1950-53 Korean War:

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KOREAN CONFLICT

The old Soviet Union was directly involved in the founding of North Korea after the end of World War II, which ended Japan's colonial rule of the Korean Peninsula but resulted in a division between the Soviet-backed North and U.S.-controlled South.

Soviet officers installed ambitious young nationalist Kim Il Sung, the grandfather of North Korea's current ruler and an ex-guerrilla commander who fought Japanese forces from Manchuria in the 1930s, as the Korean leader of the emerging state on the northern half the peninsula. By early 1950, Kim Il Sung successfully persuaded an initially reluctant Joseph Stalin to allow him to unify the Koreas by force, guaranteeing a swift victory.

Kim Il Sung's forces launched a surprise attack on the South in June, triggering a devastating war that drew massive interventions by the United States and China and left millions killed or injured before stopping with an armistice in 1953.

The Soviets supported North Korea during the war with weapons, military advisers and pilots but stayed out of land warfare, a decision that shaped Kim Il Sung's postwar efforts to strengthen his personal power and autonomy. Moscow's support became less important for Kim's internal control when he could count on China to counter the influence of the Soviets, especially after the late 1950s when relations between the two major communist powers grew increasingly hostile.

While playing Moscow and Beijing against each other to win more political independence and aid, Kim Il Sung consolidated his domestic power by violently purging his pro-Soviet and pro-Chinese opponents.

___

SOVIET COLLAPSE

Despite the ups and downs in bilateral relations, Soviet military, energy and food aid were crucial in keeping North Korea's struggling economy afloat for decades. That all changed in 1991 with the collapse of the Soviet Union, which instantly deprived Pyongyang of its main economic and security benefactor.

The post-communist government in Moscow led by President Boris Yeltsin saw Russia as a partner of the U.S.-led West and had no enthusiasm to continue supporting North Korea with aid and subsidized trade. Moscow established formal diplomatic ties with Seoul in hopes of drawing massive South Korean investment and allowed its Soviet-era military alliance with North Korea to expire. There were widespread predictions that a collapse of the North Korean government was imminent.

Facing an existential crisis, North Korea reacted by accepting more help from China, which despite a level of mutual distrust remains Pyongyang's only major ally and considers preventing a North Korean collapse critical to its security interests. The North also became more vocal in its pursuit of a nuclear deterrent, which forced the United States to the negotiation table.

In 1994, shortly after the death of Kim Il Sung, North Korea reached a major agreement with the United States to halt plutonium production in exchange for energy and food aid and security assurances. The deal broke down in 2002 after U.S. officials confronted Pyongyang over a clandestine nuclear program using enriched uranium.

___

PUTIN IN PYONGYANG

Russia began to reconsider its Koreas policies in the late 1990s over what it saw as disappointing business activity with South Korea and concerns that Moscow's heavy tilt toward Seoul diminished its influence in international efforts to deal with Pyongyang. The divergence between Moscow and the West over key security issues was also becoming clear.

After his first election in 2000, Putin actively sought to restore Russia's ties with North Korea, visiting Pyongyang in July that year for a meeting with Kim Jong Il, the second-generation North Korean leader, where they issued criticism of U.S. missile defense plans. The trip was seen as Putin's message to the West that Russia would seek to restore its traditional domains of influence. Putin hosted two return visits by Kim Jong Il in 2001 and 2002.

Russia was also a participant in the so-called six-party talks with North Korea that were aimed at persuading the North to abandon its nuclear program in exchange for security and economic benefits. The talks, which also involved the United States, China, South Korea and Japan, have stalled since December 2008.

___

KIM'S NEW WAY

Kim Jong Un's meeting with Putin is the first summit between the countries since his father traveled to eastern Siberia for a meeting with then-Russian President Dimitry Medvedev in August 2011.

Kim Jong Il died in December that year. Under Kim Jong Un, North Korea accelerated its weapons tests to turn a crude nuclear program into a viable arsenal that includes purported thermonuclear weapons and long-range missiles potentially capable of reaching the U.S. mainland.

The Trump-Kim meeting in Vietnam in February broke down after the North demanded the removal of most of the U.S.-led sanctions against the country in exchange for a partial surrender of its nuclear program. Kim had said he would seek a "new way" if the United States continued to test his patience with sanctions.

Kim's outreach to Putin could be part of his plans to expand his options and secure allies who would apply pressure on Washington to ease its stance on sanctions. Russia currently seems better positioned to endorse Kim's stance than China, which is locked in high-stakes trade negotiations with the U.S.

The summit with Kim could also serve Putin's desire to increase Russia's regional clout. Although Moscow has never supported a nuclear-armed North Korea, it may share a view with Pyongyang that a weakened U.S. influence in the region would benefit both.

Following three-way talks in Moscow last October, the deputy foreign ministers of North Korea, Russia and China called on the U.N. Security Council to "adjust" its sanctions regime on Pyongyang to facilitate progress in the nuclear negotiations. While Moscow and Beijing can't lift the sanctions on their own, they can give Pyongyang more breathing room if Kim persuades them to loosen their enforcement of the measures.

Source: Fox News World

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Highwaymen Exposes How Media & Gov’t Corrupt And Distort Truth

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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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U.S. President Trump departs for travel to Indianapolis from the White House in Washington
U.S. President Donald Trump talks to reporters as he departs for travel to Indianapolis, Indiana from the White House in Washington, U.S., April 26, 2019. REUTERS/Jonathan Ernst

April 26, 2019

WASHINGTON (Reuters) – U.S. President Donald Trump on Friday said trade talks with China are going very well, as the world’s two largest economies seek to end talks with a trade agreement to defuse tensions.

Trump said on Thursday he would soon host China’s President Xi Jinping at the White House.

Earlier this week, the White House said that Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer would travel to Beijing for more talks on a trade dispute marked by tit-for-tat tariffs between the two countries.

(Reporting by Jeff Mason; Writing by Makini Brice; Editing by Chizu Nomiyama)

Source: OANN

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U.S. President Donald Trump hosts Take Our Daughters and Sons to Work Day at the White House in Washington
U.S. President Donald Trump gives a thumbs up to his audience as he hosts Take Our Daughters and Sons to Work Day at the White House in Washington, U.S., April 25, 2019. REUTERS/Kevin Lamarque

April 26, 2019

WASHINGTON (Reuters) – U.S. President Donald Trump on Friday praised Russian President Vladimir Putin’s comments on North Korea this week following the Russian leader’s summit with Pyongyang’s Kim Jong Un.

Speaking to reporters at the White House, Trump also said China was helping with efforts aimed at the denuclearization of North Korea.

(Reporting by Jeff Mason and Makini Brice; Writing by Susan Heavey; Editing by Chizu Nomiyama)

Source: OANN

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