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Volkswagen boss says U.S. tariffs could cost up to 2.5 billion euros: Financial Times

Diess, Volkswagen's new CEO, poses during the Volkswagen Group's annual general meeting in Berlin
FILE PHOTO: Herbert Diess, Volkswagen's new CEO, poses during the Volkswagen Group's annual general meeting in Berlin, Germany, May 3, 2018. REUTERS/Axel Schmidt

February 21, 2019

FRANKFURT (Reuters) – The biggest threat to Volkswagen’s 2019 profit is potential tariffs from the United States, Chief Executive Herbert Diess told the Financial Times.

“It’s becoming tense once again,” Diess told the FT. “You know it’s a pity because we can’t solve it from the car industry [alone]. It’s more of a tariffs negotiation between Europe and the United States.”

Analysts at London-based Evercore ISI said tariffs could cost Volkswagen 2.5 billion euros ($2.8 billion) a year, about 13 percent of expected earnings.

“In the worst-case situation, that would probably be close to the real figure,” Diess said of the Evercore projection.

(Reporting by Edward Taylor; Editing by David Goodman)

Source: OANN

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Kentucky woman arrested after allegedly faking cancer diagnosis, raising $10G in donations: report

A woman in Northern Kentucky is facing felony charges after she allegedly faked a cancer diagnosis and ultimately swindled thousands of dollars from coworkers and other sympathizers in donations.

Jessica Marie Krecskay, 25, was arrested on Feb. 14 on felony theft charges, the Cincinnati Enquirer reported. If convicted, she could face up to 10 years in jail.

OHIO NURSE WHO LIED ABOUT TERMINAL CANCER DIAGNOSIS GETS PRISON TIME

Between 2013 and 2017, Krecskay reportedly amassed roughly $10,000 in donations from coworkers and others after telling them she had ovarian cancer that had spread throughout her body, Fox 19 reported.

A former coworker told the news station that some of Krecskay’s colleagues would clean her house or give their vacation time to her when they believed she was ill.

“The other girls at work would clean her house for her, take her out to eat all the time," Jessica Lunsford said, adding the 25-year-old also shaved her head as a way to sell her story. "Gave their own sick time and vacation time hours to go towards her.”

Rob Sanders, the attorney for the 16th Judicial Circuit in Kenton County, told the Cincinnati Enquirer that police began investigating Krecskay after people called expressing concerns her cancer story was not true.

"Publicity from another fake cancer case prompted those same people to report their suspicions about this defendant to police," Sanders said, referring to when a Northern Kentucky University student in 2017 also allegedly faked a cancer diagnosis for money.

MASSACHUSETTS GIRL'S FLU-RELATED DEATH DEVASTATES DAD 

"Anytime someone uses a false claim of such a dreaded disease for fraudulent purposes, it evokes understandably angry and emotional responses from the many people who actually battle cancer or love someone battling cancer," Sanders added.

Krecskay was released from jail on $2,500 bond. Her arraignment in Kenton County Circuit Court is slated for March 4.

Source: Fox News National

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Unrealistic Promises to Rust Belt May Haunt Trump

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WASHINGTON -- When General Motors idled its auto plant in Lordstown, Ohio, this month, President Trump adopted a familiar strategy: He issued a nasty string of tweets blaming other people and promised, in effect, that he would restore the past.

Trump's angry, backward-looking approach may still appeal to some Rust Belt voters. But in the Ohio and Pennsylvania towns that helped win the presidency for Trump in 2016, his vow to turn back the clock hasn't worked out very well, and there are signs the Rust Belt may be corroding for him politically.

Lordstown's struggles, like those of other nearby mill towns, illustrate the harsh fact that manufacturing is a dynamic process. Old jobs are disappearing because of changes in technology or consumer preferences; trying to resist change is usually a fool's game. Rust Belt communities that are succeeding are the ones that have adapted by embracing new technologies and innovation.

Presidential leadership in this period of technological transition should focus on the future, rather than the past. But Trump seems almost a technophobe. Axios reported this week that he thinks driverless cars are "crazy." He tweeted March 12, after the crash of a high-tech Boeing jetliner: "Airplanes are becoming far too complex to fly ... I see it all the time in many products. Always seeking to go one unnecessary step further, when often old and simpler is far better."

Trump's response to Lordstown was to attack David Green, the UAW local president, implying that he was at fault along with GM, and demanding that he "get his act together and produce." Green had sent letters to Trump in July 2018 and February 2019 warning about threats to the plant. Trump didn't respond.

After Trump's Twitter tirade, Rep. Tim Ryan, the Ohio Democrat who represents the Lordstown area, fired back: "The President's tweet ... is offensive and does nothing to help bring back the manufacturing jobs he promised to my district."

Ryan argued that "the best thing is to help" GM renovate Lordstown and perhaps build electric vehicles there. Local residents said much the same thing to the Youngstown Vindicator this month: GM or a new owner should focus on new technology and making products people want to buy, rather than restore production of the low-selling Chevrolet Cruze.

Trump is vulnerable in the Rust Belt because he made such extravagant promises when he successfully wooed voters in 2016. "He won this area -- a largely Democratic area -- and he has not said a word yet, and that's just pathetic," warned Jim Graham a former UAW leader at Lordstown, in an interview with the Vindicator back in November, when GM said it planned to halt Cruze production there.

Local residents remember Trump's proclamation at a July 2017 rally in nearby Youngstown: "Those jobs [that] have left Ohio, they're all coming back ... Don't sell your house." Tommy Wolikow, a Lordstown worker, told the Vindicator: "I kind of turned into a Trump supporter at that time. I believed what he said. ... Almost two years later, I'm seeing nothing but job losses."

Homeowners in Youngstown certainly haven't seen a boom. According to Zillow, the online realty broker, the median price for a house in Youngstown is $39,900. The national median price of homes currently listed is $279,000. Browse the real estate ads for mill towns across Ohio and Pennsylvania and you'll see just how tough it is to be a Rust Belt resident, trapped in a downward cycle.

What's the right answer for Rust Belt towns where the old manufacturing base has disappeared? An interesting example is Erie, Pennsylvania. Most big factories there have closed in recent years, but the city is rebuilding itself around its local universities and a big insurance company. Profits from a big gambling casino in Erie County are funneled partly to "innovation spaces" at four local campuses.

Erie may have lost manufacturing jobs, but it's above the state average in advanced industries, says Ben Speggen, a local journalist who helps run a think tank in Erie called the Jefferson Educational Society. "There has been a real shift in understanding that our Rust Belt economy is not solely tied to manufacturing," he says.

Another key to success is welcoming foreigners. About 10 percent of Erie's population is refugees, according to James and Deborah Fallows in their recent book, "Our Towns." One of the 10 characteristics they found in successful local communities adapting to change is that "they make themselves open."

One more lesson from Erie County, in the heart of the Rust Belt: Trump won there in the 2016 presidential election, but in the 2018 midterm congressional election, the county voted Democratic.

(c) 2019, Washington Post Writers Group

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U.S. names experts to Boeing certification review panel

FILE PHOTO: An aerial photo shows Boeing 737 MAX airplanes parked on the tarmac at the Boeing Factory in Renton
FILE PHOTO: An aerial photo shows Boeing 737 MAX airplanes parked on the tarmac at the Boeing Factory in Renton, Washington, U.S. March 21, 2019. REUTERS/Lindsey Wasson/File Photo

April 22, 2019

By David Shepardson

WASHINGTON (Reuters) – U.S. Transportation Secretary Elaine Chao said on Monday she named four experts to a blue-ribbon committee to review the Federal Aviation Administration’s (FAA) aircraft certification process after two deadly Boeing 737 MAX crashes killed nearly 350 people.

Chao said she was naming NASA’s former aviation safety program director Amy Pritchett and Gretchen Haskins, chief executive of HeliOffshore Ltd, an international expert in aviation safety and a former U.S. Air Force officer.

She also named Kenneth Hylander, chief safety officer at Amtrak and a former senior safety executive at Delta and Northwest airlines, and J. David Grizzle, chairman of the board of Republic Airways and a former FAA chief counsel.

The committee is “specifically tasked to review the 737 MAX 800 certification process from 2012 to 2017, and recommend improvements to the certification process.”

U.S. lawmakers have criticized the FAA’s program that allows Boeing Co <BA.N> and other manufacturers to oversee the process that ensures air worthiness and other vital safety aspects of new aircraft.

Chao said last month the panel would be co-chaired by retired Air Force General Darren McDew, the former head of the U.S. Transportation Command, and Lee Moak, a former president of the Air Line Pilots Association.

Federal prosecutors, the Transportation Department’s inspector general and lawmakers are investigating the FAA’s certification of the 737 MAX 8 aircraft. A joint review by 10 governmental air regulators is also set to start April 29.

(Reporting by David Shepardson; Editing by Tom Brown)

Source: OANN

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CEO sees Bayer ‘massively’ affected by herbicide litigation

Werner Baumann, CEO of Bayer AG speaks during the annual results news conference of the German drugmaker in Leverkusen
Werner Baumann, CEO of Bayer AG speaks during the annual results news conference of the German drugmaker in Leverkusen, Germany February 27, 2019. REUTERS/Wolfgang Rattay

April 11, 2019

COLOGNE, Germany (Reuters) – Bayer’s chief executive on Thursday acknowledged the German maker of pharmaceuticals and crop chemicals was facing massive challenges from a wave of lawsuits over an alleged carcinogenic effect of its Roundup weedkiller.

“We have lost two cases in lower courts. That is why the company is massively affected. You see it in our share price,” CEO Werner Baumann said in a panel discussion at an academic business event in Cologne.

“You see it selectively, mainly here in Germany and in France – less so in the USA – in our reputational scores,” he added.

Bayer has seen about 30 billion euros ($34 billion) wiped off its market value since August, when a U.S. jury found Bayer liable because Monsanto, acquired by Bayer for $63 billion last year, had not warned of weedkiller Roundup’s alleged cancer risks.

It suffered a similar courtroom defeat last month and more than 10,000 cases are pending.

“There’s lots of politicking, campaigning and propaganda that goes entirely against the current regulatory status of our products. That has prompted U.S. lawyers to sue for damages – a big industry in the USA – following an outlier assessment of the potential risk by a subordinate organization,” Baumann added.

The U.S. Environmental Protection Agency, the European Chemicals Agency and other regulators across the globe have found that glyphosate, the active ingredient in Roundup, is not likely carcinogenic to humans.

However, the World Health Organization’s cancer arm in 2015 reached a different conclusion, classifying glyphosate as “probably carcinogenic to humans”.

Bayer is legally challenging the verdicts and has stressed that regulators across the globe have found the product to be safe.

(Reporting by Ludwig Burger; Editing by Michelle Martin)

Source: OANN

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U.S. judge suspends Blackstone’s lawsuit against Italian media group: sources

The ticker and trading information for Blackstone Group is displayed at the post where it is traded on the floor of the New York Stock Exchange
FILE PHOTO: The ticker and trading information for Blackstone Group is displayed at the post where it is traded on the floor of the New York Stock Exchange (NYSE) April 4, 2016. REUTERS/Brendan McDermid

April 24, 2019

MILAN (Reuters) – A New York judge has suspended a lawsuit brought by U.S. private equity fund Blackstone against Italian publisher RCS Mediagroup over the disputed sale of real estate assets, two sources close to the matter said on Wednesday.

The case centres on the acquisition by Blackstone of RCS’s historic headquarters in central Milan for 120 million euros ($134 million) in 2013.

RCS says that Blackstone took control of the headquarters at a price that was too low while RCS was in financial difficulties. The U.S. group in turn has accused RCS of falsely claiming that it still owns the building.

The New York judge said the U.S. case would be stayed pending the outcome of related arbitration proceedings in Italy between the two sides, the sources said.

RCS declined to comment. A lawyer representing Blackstone, Aaron Marks of law firm Kirkland & Ellis, said Blackstone would pursue its claims to the end, whether in New York or Italy.

“We are entirely confident in our legal case and have no intention of settling the case,” Marks said in an emailed statement.

Last year RCS, the owner of influential daily Corriere della Sera, launched arbitration proceedings in Milan to have the sale of the properties to Blackstone nullified under Italian law.

The next hearing in that case has been scheduled for Sept. 16, according to two sources close to the matter.

RCS Chairman Urbano Cairo, who became the group’s controlling shareholder after the 2013 deal, has argued that Blackstone paid too little for the properties because the media group was in financial difficulties at the time of the sale.

Blackstone in turn launched a separate legal case against RCS in New York, alleging that a planned sale of the same properties to Allianz was held up by claims from RCS that the transaction was “null and void”, according to a copy of the court documents seen by Reuters.

The dispute has alarmed some real estate investors, who say foreign investment in Italy could suffer as a result.

($1 = 0.8963 euros)

(Reporting by Claudia Cristoferi and Silvia Aloisi; Editing by Hugh Lawson)

Source: OANN

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Japan finance minister says mergers are ‘one option’ for ailing regional banks

Japan's Finance Minister Taro Aso attends the G20 Finance and Central Bank Deputies Meeting in Tokyo
Japan's Finance Minister Taro Aso attends the G20 Finance and Central Bank Deputies Meeting in Tokyo, Japan January 17, 2019. REUTERS/Issei Kato

April 5, 2019

TOKYO (Reuters) – Japanese Finance Minister Taro Aso said on Friday mergers could be one option for the country’s regional banks – struggling with squeezed profits amid prolonged low interest rates – to improve financial services.

Aso, who also serves as minister overseeing the financial services watchdog, made the comment days after an advisory panel to Prime Minister Shinzo Abe discussed a plan to ease antitrust rules that would enable some regional banks to merge.

“We will review oversight guidelines to urge improvement in management at an early stage. Regional financial institutions are fit right now, but we need to consider the way to respond,” Aso told reporters after a cabinet meeting.

“To maintain financial services mergers could be an option.”

The current legislation focuses on what the market share of the combined entity would be to determine whether it would hurt competition.

To address this concern, the government is likely to ease merger rules on a temporary basis and strengthen the monitoring of newly merged banks to ensure they do not abuse their larger share of local lending.

Profitability at regional banks has taken a hit as the Bank of Japan’s super-loose monetary policy has triggered a collapse in spreads between lending rates and financing rates, which depresses bank margins.

BOJ’s ultra-easy monetary policy is making it tough for commercial banks to earn profits out of lending, a problem that cannot be fixed through bank mergers, the chairman of a major regional bank in southern Japan told Reuters last month.

In light of growing concern over the plight of regional banks, the Financial Services Agency on Wednesday proposed rules to expand its oversight of regional banks, including broad stress tests, with more focus on lenders’ future profitability.

(Reporting by Tetsushi Kajimoto; Editing by Sam Holmes)

Source: OANN

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FILE PHOTO: Shoppers walk past the Debenhams department store on Oxford Street in London
FILE PHOTO: Shoppers walk past the Debenhams department store on Oxford Street in London, Britain December 15, 2018. REUTERS/Simon Dawson

April 26, 2019

(Reuters) – Ailing British retailer Debenhams said two proposed company voluntary arrangements (CVA) could see all its stores remaining open during 2019, with 22 closures planned for next year, putting about 1,200 jobs at risk.

Debenhams’ lenders took control of the retailer earlier this month in a process designed to keep its shops open at the expense of shareholders.

(Reporting by Noor Zainab Hussain in Bengaluru; editing by Gopakumar Warrier)

Source: OANN

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FILE PHOTO: Xiaomi branding is seen on a carrier bag at a UK launch event in London
FILE PHOTO: Xiaomi branding is seen on a carrier bag at a UK launch event in London, Britain, November 8, 2018. REUTERS/Toby Melville

April 26, 2019

BENGALURU (Reuters) – Chinese brands controlled a record 66 percent of Indian smartphone market in the first quarter, led by Xiaomi Corp, a report showed, with volumes rising 20 percent on the back of popularity for brands like Vivo, RealMe and Oppo.

Xiaomi’s India shipments fell by 2 percent over last year, but the Beijing-based company was still the biggest smartphone brand in the country, followed by Samsung Electronics Co Ltd, according to Hong-Kong based Counterpoint Research.

Shipment volumes for Vivo jumped 119 percent, while those of Oppo rose 28 percent.

“Vivo’s expanding portfolio in the mid-tier range ($100 to $180) drove its growth along with aggressive Indian Premier League cricket campaign,” Counterpoint analysts said.

India is the world’s fastest growing market for smartphones, where affordable pricing coupled with features like “selfie” cameras and big screens have popularized Chinese brands.

Video streaming services like Netflix Inc and Hotstar, as well as heavy usage of messaging apps like Facebook Inc’s WhatsApp have further spurred demand.

“Data consumption is on the rise and users are upgrading their phones faster as compared to other regions,” Counterpoint’s Tarun Pathak said.

“As a result of this, the premium specs are now diffusing faster into the mid-tier price brands. We estimate this trend to continue leading to a competitive mid-tier segment in coming quarters.”

(Reporting By Arnab Paul in Bengaluru; Editing by Subhranshu Sahu)

Source: OANN

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Good morning and welcome to Fox News First. Here’s a look at what you need to know today …

EXCLUSIVE: Trump says ‘Sleepy Joe’ Biden doesn’t have what it takes

President Trump, in a wide-ranging, exclusive phone interview with Fox News’ Sean Hannity, dismissed the launch of former Vice President Joe Biden’s presidential campaign, nicknaming him “Sleepy Joe” and saying he’s “not the brightest bulb.” Biden, the president said, has name recognition but he won’t “be able to do the job.” When asked about Sen. Bernie Sanders, I-Vt., Trump criticized his record, saying Sanders had “misguided energy” and asserted that Sanders “talks a lot” but hasn’t accomplished anything. The president referred to former U.S. Rep. Beto O’Rourke of Texas as “a fluke” who had lost much momentum and outright dismissed Sen. Kamala Harris, D-Calif., and South Bend, Ind., Mayor Pete Buttigieg — although he said he was “rooting” for Buttigieg. (Trump could address Biden and the other Democratic presidential candidates when he speaks today before the National Rifle Association.)

The Democratic Party’s youth movement: Biden’s biggest challenge?
Former Democratic National Committee (DNC) chair Howard Dean warned Joe Biden about the troubles he may face in his presidential campaign, especially from the “35-year-olds” who Dean says have been running the party — a clear nod to Rep. Alexandria Ocasio-Cortez, D-N.Y., and fellow freshmen Democrats. “This is a very different party than even the party Joe Biden ran in in 2012. Very different,” Dean continued. “A lot of people could win this race. There’s 20 people in there. I think it’s going to take $20 million to get to the starting line. If you can’t raise $20 million, you’re gone, and I think that’s going to take care of about six or eight of these folks. … But it is not the same party that it was five years ago.” A progressive political group that boosted Ocasio-Cortez’s bid for Congress last year vowed to oppose Biden and blasted him as part of the “old guard.”

More tales from the FBI texts
Text messages between former FBI officials Peter Strzok and Lisa Page indicate they discussed using briefings to the Trump team after the 2016 election to identify people they could “develop for potential relationships,” track lines of questioning and “assess” changes in “demeanor” – language one GOP lawmaker called “more evidence” of irregular conduct in the original Russia probe. Fox News has learned the texts, initially released in 2018 by a Senate committee, are under renewed scrutiny, with GOP Sen. Chuck Grassley and Homeland Security Committee chair Ron Johnson sending a letter Thursday night to Attorney General Bill Barr pushing for more information on the matter. President Trump, speaking on Fox News’ “Hannity” Thursday night, responded to this report by accusing Strzok and Page of an attempted “coup.” “They were trying to infiltrate the administration,” he said.

Kim accuses US of acting in ‘bad faith’
North Korean leader Kim Jong Un, fresh off his summit with  Russian President Vladimir Putin, said the U.S. has been acting in “bad faith” since his Hanoi meeting with President Trump over the stalemated issue of North Korean denuclearization. The North Korean leader told the Korean Central News Agency that, “the situation on the Korean Peninsula and the region is now at a standstill and has reached a critical point,” the Straits Times of Singapore reported. Kim warned that the situation “may return to its original state as the U.S. took a unilateral attitude in bad faith at the recent second DPRK-US summit talks,” the Korean Central News Agency added.

NFL Draft 2019: It’s all about defense
The first round of the 2019 NFL Draft saw a run on defensive players, with eight of the top 12 picks in Nashville coming from that side of the ball. After Oklahoma quarterback Kyler Murray was taken first overall by the Arizona Cardinals, the San Francisco 49ers started a run of four straight front-seven players by taking Ohio State defensive end Nick Bosa with the second overall pick — the highest draft slot for any Buckeye since left tackle Orlando Pace went No. 1 overall to the St. Louis Rams in 1997.

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TODAY’S MUST-READS
Fox News’ Ed Henry recalls spending time with Celtics great John Havlicek.
Massachusetts judge accused of helping illegal immigrant evade ICE pleads not guilty.
Rosenstein slams Obama administration for choosing ‘not to publicize full story’ of Russia hacking.
F.H. Buckley: What Democrats have forgotten about citizenship.

MINDING YOUR BUSINESS
Amazon crushes earnings expectations, but revenue growth slows.
Low-tax states among best places to make a living in 2019.
Construction job market booming: These states are hiring.

#TheFlashback
2018: Bill Cosby is convicted of drugging and molesting Temple University employee Andrea Constand at his suburban Philadelphia mansion in 2004; it is the first big celebrity trial of the #MeToo era.
1986: An explosion and fire at the Chernobyl nuclear power plant in Ukraine causes radioactive fallout to spew into the atmosphere. (Dozens of people are killed in the immediate aftermath of the disaster while the long-term death toll from radiation poisoning is believed to number in the thousands.)
1977: Notorious nightclub Studio 54 opens in New York.

SOME PARTING WORDS

Watch the “Special Report” panel take a look at former Vice President Joe Biden’s decision to run for president a third time and the battle for the “soul” of America.

Not signed up yet for Fox News First? Click here to find out what you’re missing.

CLICK HERE to find out what’s on Fox News programming today and over the weekend!

Fox News First is compiled by Fox News’ Bryan Robinson. Thank you for joining us! Have a good day and weekend! We’ll see you in your inbox first thing Monday morning.

Source: Fox News National

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Joe Biden’s brain surgeon said his former patient is “totally in the clear” as speculation over the candidate’s health — with Biden possibly becoming the oldest president in U.S. history — is likely to become a campaign issue.

The former vice president, who had been perceived by many as the strongest potential contender for the Democratic Party’s 2020 presidential nomination, formally announced his candidacy Thursday.

But Biden’s age – 76 – is expected to become a source of attacks from a younger generation of Democrats not because of obvious generational differences, but possibly for actual health concerns if Biden gets into office.

WHY THE MEDIA ARE CONVINCED JOE BIDEN WILL IMPLODE

Biden himself agreed last year that “it’s totally legitimate” for people to ask questions about his health if he decides to run for president, given his medical history — which has included brain surgery in 1988.

“I think they’re gonna judge me on my vitality,” Biden told “CBS This Morning.” “Can I still run up the steps of Air Force Two? Am I still in good shape? Am I – do I have all my faculties? Am I energetic? I think it’s totally legitimate people ask those questions.”

“I think they’re gonna judge me on my vitality. …  I think it’s totally legitimate [that] people ask those questions.”

— Joe Biden

But Dr. Neal Kassell, the neurosurgeon who operated on Biden for an aneurysm three decades ago, told the Washington Examiner that Biden appears to be “totally in the clear” — and even joked that the operation made Biden “better than how he was.”

“Joe Biden of all of the politicians in Washington is the only one that I’m certain has a brain, because I have seen it,” Kassell said. “That’s more than I can say about all the other candidates or the incumbents.”

“Joe Biden of all of the politicians in Washington is the only one that I’m certain has a brain, because I have seen it.”

— Dr. Neal Kassell

BIDEN’S CLAIM HE DIDN’T WANT OBAMA TO ENDORSE TRIGGERS MOCKERY

At the same time, however, Biden hasn’t been forthcoming about his health at least since 2008 when he released his medical records as a vice presidential candidate. The disclosure that time revealed some fairly minor issues such as an irregular heartbeat in addition to detailing previous operations, including removing a benign polyp during a colonoscopy in 1996, the outlet reported.

It remains unclear if Biden had more aneurysms. Some medical experts say that people who have had an aneurysm can have another one.

An aneurysm, or a weakening of an artery wall, can lead to a rupture and internal bleeding, potentially placing a patient’s life in jeopardy.

Biden won’t be the only Democrat grappling with old age. Sen. Bernie Sanders, another 2020 frontrunner, is currently 77 years old and agreed with Biden last year that their ages will be an issue in the race.

“It’s part of a discussion, but it has to be part of an overall view of what somebody is and what somebody has accomplished,” Sanders told Politico.

“Look, you’ve got people who are 50 years of age who are not well, right? You’ve got people who are 90 years of age who are going to work every day, doing excellent work. And obviously, age is a factor. But it depends on the overall health and wellbeing of the individual.”

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Sanders released his medical records in 2016, with a Senate physician saying in a letter that the senator was “in overall very good health.”

Source: Fox News Politics

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German carmaker Daimler endured a weak start to the year, echoing troubles at other major manufacturers, as sales in the big Chinese market stuttered.

The company said Friday that its net income fell to 2.1 billion euros ($2.3 billion) in the first quarter from 2.3 billion euros during the same period a year earlier, while revenue dipped to 39.7 billion euros from 39.8 billion euros.

Vehicle sales fell 4% to 773,800 units, with a double-digit percentage drop in China offsetting gains in other markets like the U.S. and Europe.

The company said there were also problems with high inventories and bottlenecks in the supply chain.

Chairman Dieter Zetsche said that “we cannot and will not be satisfied with this — as expected — moderate start to the year.”

Source: Fox News World

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