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China game-streaming firm Huya launches $343 million follow-on offering

FILE PHOTO: The Huya logo is shown on the NYSE boards ahead of the company's IPO at the New York Stock Exchange (NYSE) in New York
FILE PHOTO: The Huya logo is shown on the NYSE boards ahead of the company's IPO at the New York Stock Exchange (NYSE) in New York, U.S., May 11, 2018. REUTERS/Brendan McDermid/File Photo

April 9, 2019

By Julia Fioretti

HONG KONG (Reuters) – Chinese game-streaming company Huya Inc, backed by Tencent Holdings Ltd, has launched a follow-on share offering of about $343 million to raise funds for investment in its content and e-sports partners.

Huya, which went public last year in New York, is part of a growing trend of Chinese tech companies returning to capital markets for cash soon after their initial public offering (IPO).

Huya is selling 13.6 million primary shares, the game-streaming firm company said in a stock exchange filing. At the same time, social media platform YY Inc is selling 4.8 million of Huya shares, the filing showed.

Based on its closing price of $25.23 on Monday, the combined sale could raise as much as $464 million.

There is an over-allotment – or greenshoe option – of up to 15 percent for Huya’s share sale, meaning the firm could raise as much as $394 million if exercised. There is likewise a 15 percent over-allotment for YY’s stake sale.

Huya is China’s biggest live-streaming game platform, according to the offering prospectus, competing with Douyu which plans to go public in New York this year.

China boasts the world’s largest gamer base in e-sports with about 266 million gamers in 2018, the prospectus showed.

Huya’s shares have risen about 65 percent since the firm’s IPO in May, in which it raised $180 million.

Other companies from the 2018 IPO cohort returning for more funds include electric vehicle maker NIO Inc, video streaming company iQIYI Inc, e-commerce firm Pinduoduo Inc and video platform Bilibili Inc.

Bankers are pinning their hopes for 2019 on additional capital raising through follow-on offerings or convertible bonds as the crop of Chinese companies looking to go public thins out after a blockbuster 2018 in terms of IPOs.

Many of the companies that went public in 2018 raised less money than they had hoped for – partly due to global market jitters and partly because investors pushed back against lofty valuations – which will drive follow-on capital raising.

Huya will price its follow-on offering after New York markets close on Tuesday.

Citigroup, Credit Suisse, Goldman Sachs and Jefferies are joint bookrunners for the deal.

(Reporting by Julia Fioretti; Editing by Christopher Cushing)

Source: OANN

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India’s trade ministry proposes delaying retaliatory tariffs on U.S. goods

FILE PHOTO - A worker loads goods into a container at Thar Dry Port in Sanand
FILE PHOTO - A worker loads goods into a container at Thar Dry Port in Sanand in the western state of Gujarat, India, February 10, 2016. REUTERS/Amit Dave/File Photo

March 29, 2019

NEW DELHI (Reuters) – India’s trade ministry has proposed that the government delays by a month the imposition of retaliatory tariffs on some U.S. goods that were due to go into effect from April 1, a trade ministry spokeswoman told Reuters on Friday.

Trade friction between India and the United States escalated after President Donald Trump announced plans earlier this month 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.

Indian officials believe India could lose its preferential treatment in early May. The Indian government has asked the U.S. administration to review its decision, two government officials with close knowledge of the matter said.

In June last year, India had announced it would increase import duties varying from 20 percent to 120 percent on a slew of U.S. farm, steel and iron products, angered by Washington’s refusal to exempt it from new steel and aluminum tariffs.

But since then, New Delhi has repeatedly delayed the implementation of those enhanced duties.

The trade ministry spokeswoman said the government planned to send a delegation to Washington to address bilateral trade issues, and that the ministry was seeking to hold off imposing retaliatory tariffs until May.

“The Ministry of Commerce has requested the Department of Revenue to extend the deadline for imposition of tariffs on U.S. goods by another 30 days,” the spokeswoman said.

The revenue department falls within the finance ministry, and the two ministries need to consult over any decision to delay the tariffs.

India is the world’s largest beneficiary of the Generalized System of Preferences (GSP), which dates from the 1970s, and ending its participation would be the strongest punitive action the United States has taken against the country since Trump took office.

The timing of the U.S. decision to revoke the trade privileges is awkward for India as Prime Minister Narendra Modi’s government is heading into a general election. Voting will take place between April 11 and May 19, and the results will be announced on May 23.

(Reporting by Neha Dasgupta; Editing by Sanjeev Miglani & Simon Cameron-Moore)

Source: OANN

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Students at Baylor University try to shut down Matt Walsh’s talk about Christian values

Conservative commentator Matt Walsh is getting pushback from students at Baylor University, a Christian university in Texas, for a speech he is scheduled to give Tuesday night defending the Christian values of protecting life, marriage, and gender.

Some Baylor students, however, are demanding Walsh's speech be shut down because of his "anti-LGBTQ" views, according to a Change.org petition that has garnered over 2,200 signatures as of Tuesday morning.

DC SCHOOL WON'T PLAY SPORTS AT CHRISTIAN SCHOOL WHERE KAREN PENCE TEACHES: 'THEY FEEL UNSAFE'

"This cannot be allowed to take place," the petition reads. "Please remove this from campus events. For the benefit of all LGBTQ+ students, alumni, and future students, this harmful hate speech must be kept off of our beloved campus."

But Walsh said this shutting down of free speech, let alone at a Christian university in Texas of all places, is nothing new.

"You think that people would at least be open to hearing the message," Walsh told "Fox & Friends" Tuesday morning. "We know the situation on college campuses, where often times opposing viewpoints are not welcome and students don't know how to deal with someone presenting a point of view that's foreign to them."

COLUMBIA STUDENT GROUP ACCUSED OF ANTI-SEMITIC IMAGERY TO PROMOTE ISRAEL APARTHEID WEEK

Although Baylor is a Christian institution, Walsh points out, there are many "Christian-in-name-only" schools, especially when it comes to the culture on campus. He said many are "openly hostile to Christianity."

The Daily Wire contributor was invited to Baylor by the Young Americans for Freedom chapter on campus, and, despite the petition, Baylor officials support Walsh coming to campus.

"While Baylor is a university that supports and encourages free speech, we have an additional...responsibility as a Christian university..to appreciate differing opinions and backgrounds in a respectful and compassionate manner that extends grace as Christ did. We may not always agree, but we are still the Baylor Family," Linda Livingstone, Baylor University president, wrote in a statement. "And we all need to do better."

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Walsh notes that if students are hurt by his presence or words on campus, they don't have to attend the speech.

"I hope that people who disagree come to the speech and, at least, hear me out," Walsh said. "I hope they'll walk away realizing that it's possible to be pro-life, it's possible to be pro-traditional marriage and not hate anyone."

BEN SHAPIRO TO SPEAK AT CHRISTIAN COLLEGE AFTER IT INITIALLY SPURNED HIM, YOUNG AMERICA'S FOUNDATION SAYS

In February, another Christian school, Grand Canyon University, disinvited YAF speaker Ben Shapiro before reversing its decision.

Source: Fox News National

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London’s Westminster station reopens after reported emergency: witnesses

People stand outside Westminster underground station during an emergency closure, in London
People stand outside Westminster underground station during an emergency closure, in London, Britain, March 25, 2019. REUTERS/Henry Nicholls

March 25, 2019

Source: OANN

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Pennsylvania police investigating viral video showing an officer striking a woman

A Pennsylvania police department says an internal investigation is underway after a viral video emerged showing one of its sergeants striking a woman.

The Chester Police Department, in a statement, said it was responding to a call of “what was described to them as a riot” on Saturday afternoon and “located a large group of people fighting in the street.

“While police were gaining control of the situation a female identified as Dominique Difiore, 20, struck a police sergeant,” they said. “She was taken into custody by officers on the scene.”

WARNING: GRAPHIC LANGUAGE

The brawl, police said, was linked to a group of people who kicked down the door of a home where a party was happening, after being denied entry. Police added there were “numerous assaults and a college age St. Patrick's celebration going on in the neighborhood at the time of this incident.”

Video footage shows a woman appearing to take a swing at an officer before he hits her back in response, causing her to fall to the ground.

“I think it was excessive force,” Matt Pfaff, a neighbor, told CBS Philly. “I think it was ridiculous to do something like that, no matter how frustrated you get. They’re trained to do better.”

CLICK HERE TO GET THE FOX NEWS APP

Police are warning though that the “partial video of the event [that] is circulating on various social media platforms” doesn’t tell the whole story.

“The incident, the video, and level of force used in connection with the event are all currently under investigation, the Chester Police Department said.

Source: Fox News National

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Lara Trump: Democrats ‘willing to do anything’ to beat Trump in 2020

President Donald Trump’s 2020 senior campaign advisor and daughter-in-law  Lara Trump spoke to Fox News’ Sean Hannity Monday about the Democratic Party’s chances in the 2020 presidential election.

“If they want to go that far left, I think it will paint a very clear picture for people come 2020. Are you voting for someone who is running on socialism, who wants full government control of our country, who wants to take over every single aspect of your life? Or are you happy with the record high stock markets, with the jobs pouring back into this country, the record low unemployment?” Trump said on “Hannity.”

ROMNEY CALLS HOUSE DEMOCRATS MANEUVER TO GET TRUMP'S TAXES 'MORONIC'

Trump also talked how the American public is "done" with the Russia collusion accusations and accused Democrats of using the topic to deflect from the president's positive results.

“They have to try to distract people because otherwise they’re afraid that the American people would really see the incredible job that this president has done.  The good news is that I think people feel it every day. They’re not being distracted by the nonsense out there.”

CLICK HERE TO GET THE FOX NEWS APP

Trump noted that the tax request by House Democrats is an example of how the opposition will do anything to distract and hinder the president because they fear facing him in 2020.

“They’re willing to do anything that they can, Sean,” Trump said. “The reality is the fight against Donald Trump for becoming president in 2020, I think they know, is an impossible battle.”

Source: Fox News Politics

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Stop Comparing Political Rivals to Nazis

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In fits of hyperbolic condemnation for President Trump and the America First movement, political and media leftists continue to escalate their rhetoric and now reach almost casually for comparisons to Hitler and his evil Nazi regime.  Such obscene references poison our public dialogue, demean the horror suffered by Holocaust victims, and betray the heroism of our American military veterans. 

On Thursday, former Congressman Beto O’Rourke appeared at a campaign event in Carroll, Iowa and castigated President Trump’s tough talk on illegal border crossings as reminiscent of the “Third Reich.”  O’Rourke told the story of a visit to an elementary school where a “third grade girl, who was handing us the hand-drawn Valentines, who happens to be Mexican American, says: ‘Why does the president not like me?’” Quite frankly, I find O’Rourke’s setup difficult to accept, as it conveniently fits the popular but dubious narrative of the “woke 8 year old.” Even more suspiciously, it almost precisely replicates the story Playboy’s White House correspondent, Brian Karem, tweeted: that a “young Hispanic boy” on the Washington subway “saw my press pass and asked me ‘why does the president hate me?’”

But regardless of the veracity of these accounts, O’Rourke leapt at the opportunity to compare Trump to Nazis.  He told the audience that the president “went on to call asylum seekers animals. … Now, we would not be surprised if in the Third Reich other human beings were described as an infestation, as a cockroach, or a pest you would want to kill.”

First, President Trump did not, at all, call asylum seekers “animals,” but rather very clearly directed that descriptor toward violent MS-13 gang assailants. Trump opponents have lied about these “animal” comments almost as often as they have propagated the totally discredited Charlottesville hoax, the myth that he called neo-Nazi supremacists “fine people.”  

The extremist O’Rourke clearly disagrees vehemently with Trump on U.S. border sovereignty, even arguing to tear down already existing barricades. While his open-borders fantasies represent awful policy, he at least displays honesty in publicly staking out his highly unpopular view.  But he also delves into demonization, comparing Trump and border enforcement to the most evil regime of modern history, one that systemically slaughtered millions of people.

Sadly, O’Rourke finds much company in this ugly pattern of Nazi analogizing among Trump critics.  For example, former CIA Director Michael Hayden tweeted out a picture of the infamous Auschwitz-Birkenau concentration camp with the text “other governments have separated mothers and children.”  MSNBC’s Donny Deutsch expanded the condemnation, not only impugning Trump and our Homeland Security agents, but also the 63 million Americans who voted for the president.  Deutsch admonished “Morning Joe” viewers that “if you vote for Trump, then you the voter -- you, not Trump -- are standing at the border like Nazis.” 

It is really beneath decency to debate these accusations on their substance, though I will point out that Trump, ironically, is the closest America has ever come to a Jewish president.  No national political leader in our country deserves such ignorant insults, and certainly not a man who shares Shabbat with his own grandchildren and was told by Israeli Prime Minister Netanyahu that “Israel has never had a better friend than you.”

Even more importantly, cavalier comparisons like O’Rourke’s denigrate the ghastly sufferings of the millions massacred by Hitler and his henchmen.  Throwing around Nazi references to disparage rivals over policy prescriptions cheapens the sacredness of the true horrors of the Shoah.  Edna Friedberg, a historian at the U.S. Holocaust Memorial Museum, decried that politicians and media figures “casually use Holocaust terminology to bash anyone or any policy with which they disagree.”  

Moreover, such vile analogies disrespect the honor of America’s veterans who led the alliance that toppled the wicked Nazi menace.  Hundreds of thousands of young Americans perished across an ocean to dismantle fascism.  American military cemeteries dot that continent today, and remind us of the price our country paid to smash oppression.  There’s truth in the aphorism that “politics ain’t bean-bag,” and we should all welcome a vigorous debate on controversial ideas such as illegal immigration.  But we should also all agree to refrain from comparing political rivals to the worst murderous monsters in history.

Steve Cortes is a contributor to RealClearPolitics and a CNN  political commentator. His Twitter handle is @CortesSteve.

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A worker walks on the roof of a new home under construction in Carlsbad
FILE PHOTO: A worker walks on the roof of a new home under construction in Carlsbad, California September 22, 2014. REUTERS/Mike Blake

April 26, 2019

NEW YORK (Reuters) – The U.S. economy is growing at a 2.08% annualized pace in the second quarter based on upbeat data on durable goods orders and new home sales in March, the New York Federal Reserve’s Nowcast model showed on Friday.

This was faster than the 1.92% growth rate calculated by the N.Y. Fed model the week before.

(Reporting by Richard Leong; Editing by Chizu Nomiyama)

Source: OANN

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Extraordinary European Union leaders summit in Brussels
FILE PHOTO: Italian Prime Minister Giuseppe Conte arrives at an extraordinary European Union leaders summit to discuss Brexit, in Brussels, Belgium April 10, 2019. REUTERS/Yves Herman

April 26, 2019

(Reuters) – Italian Prime Minister Giuseppe Conte said on Friday he had assured China’s Huawei Technologies that it would not face discrimination in the rollout of Italy’s 5G telecoms network.

Conte was speaking on a visit to China where he said he met Huawei’s chief executive, Ren Zhengfei. The prime minister’s comments were carried in Italy by TV broadcaster Sky Italia.

“I told him that we have adopted some precautions, some measures to protect our interests that demand very high levels of security … not only from Huawei but any company entering into the 5G arena,” he said.

Huawei, the world’s biggest producer of telecoms equipment, is under intense scrutiny after the United States told allies not to use its technology because of fears it could be a vehicle for Chinese spying. Huawei has categorically denied this.

(Writing by by Mark Bendeich; Editing by Angelo Amante)

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) – President Donald Trump on Friday was expected to announce his intention to revoke the United States’ status as a signatory of the Arms Trade Treaty, which was signed in 2013 by then-President Barack Obama but never ratified by Congress, two U.S. officials said.

Trump was expected to announce the decision in a speech in Indianapolis, to the National Rifle Association, the officials said. The NRA, a powerful gun lobby group, has long been opposed to the treaty, which was negotiated at the United Nations.

(Reporting By Steve Holland; Editing by Bill Trott)

Source: OANN

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A remote controlled robot for the 'Isotopium: Chernobyl' game is seen at the game's location in Brovary
A remote controlled robot for the ‘Isotopium: Chernobyl’ game is seen at the game’s location in Brovary, Ukraine April 25, 2019. REUTERS/Valentyn Ogirenko

April 26, 2019

By Margaryta Chornokondratenko

KIEV (Reuters) – A Ukrainian computer game that brings to life a town abandoned after the Chernobyl nuclear disaster may not sound like everyone’s idea of fun but has attracted 60,000 people globally since its launch in October.

Players of “Isotopium: Chernobyl” drive tanks around the ghost town of Prypyat near Chernobyl, knocking out competitors as they search for an energy source called isotopium and collecting points every time they find some.

While the game takes its theme from the nuclear disaster at Chernobyl in northern Ukraine, which marked its 33rd anniversary on Friday, it was also inspired by the 2009 science fiction film “Avatar”.

Newcomers to the game think they have entered a virtual world when in fact they are controlling a real robot, equipped with a camera and computer, which makes its way around a model of the town rendered down to the tiniest detail.

“When playing our game, for the first 5-10 minutes many players don’t understand that it is not fictional,” said the game’s co-founder Sergey Beskrestnov. “They message us saying: ‘You have cool texture, you have good graphics, your designer is good, well done. You have a cool operating system.’

“People then reply: ‘It is not an operating system, it is real,’ and the player can’t believe it is real,” said Beskrestnov, speaking mid-game from Prypyat city square as he towers over surrounding five-storey buildings.

Kiev-born Beskrestnov was just 12 years old when on April 26, 1986 a botched test at the nuclear plant in the then Soviet Union sent clouds of smoldering nuclear material across large swathes of Europe, forced over 50,000 people, including Beskrestnov’s family, to evacuate and poisoned unknown numbers of workers involved in its clean-up.

Beskrestnov and his partner Alexey Fateyev used Google maps and hundreds of pictures from the Chernobyl area to recreate Prypyat landmarks, including residential buildings, a hotel, concert hall, amusement park and a stadium.

The game’s real-scale model occupies a 180 square meter (1,938 sq. ft) basement of a residential building in the Ukraine city of Brovary, just 150 km (93 miles) from the Chernobyl Exclusion Zone and 30 km east of Kiev.

Miniature radioactivity warning signs, graffiti on the walls of abandoned buildings and tables and chairs left scattered inside a small cafe all add to the creepy atmosphere of a once lively town.

“It’s a really neat concept …,” Shaun Prescott wrote in a review of the game published by PC Gamer magazine in January. “Controlling the tanks is kinda cumbersome, but they are tanks, after all.”

An attentive player will notice at least one inaccuracy – the real Chernobyl nuclear power plant is not located in town as it is in the game.

It costs $9 to immerse in the atmosphere of a post-apocalyptic town for an hour but only 20 people at a time can play simultaneously. Beskrestnov’s company, Remote Games, said 62,615 people around the world have registered to play the game, including around 15,000 in France and 10,000 in the United States.

A camera fixed on top of a moving tank broadcasts high quality signal in real time, allowing players from as far apart as Australia and Canada enjoy the game without facing any time delay in delivering video signals.

Its creators next ambition is to devise a game featuring the colonization of Mars in which 1,000 people will be able to simultaneously control robots on different missions involved in the operation.

“Many people advise us to contact Elon Musk directly because it resonates his dreams and ideas,” Beskrestnov jokes.    

(Editing by Susan Fenton)

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FILE PHOTO: A Starbucks sign is show on one of the companies stores in Los Angeles, California
FILE PHOTO: A Starbucks sign is show on one of the companies stores in Los Angeles, California, U.S. October 19,2018. REUTERS/Mike Blake/File Photo

April 26, 2019

(Reuters) – Initial optimism over first-quarter results from Starbucks Corp was waning fast on Wall Street on Friday, as analysts questioned the longer-term prospects of its new sales push given subdued overall customer traffic numbers especially in China.

The company on Thursday beat brokerage estimates for quarterly same-store sales on the back of demand for its new Cloud Macchiato, Matcha tea and cold brews in the United States.

However, BTIG’s Peter Saleh was one of a number of sector analysts who said while customers forking out for higher-priced new drinks had helped drive growth in same-store sales, “anemic” traffic at cafes remained a concern.

He and others pointed to a 1 percent decline in footfall at cafes in the Chinese market, viewed as crucial to the chain’s growth for the foreseeable future.

More broadly, transaction numbers, the substitute analysts use for customer traffic, were unchanged in all three of the company’s global regions.

Shares in the company, which hit a record high after the results on Thursday, fell 1 percent in morning trade.

“We remain cautious given near-term headwinds surrounding China, including cannibalization, increasing competition (and) a slowing economy,” Wedbush analyst Nick Setyan said.

Starbucks has also poured money into beefing up its delivery network in China as it battles with local startup Luckin Coffee, whose speedy growth led it to file for an IPO in the United States earlier this week.

New menu items and partnerships with delivery services, the heart of the company’s strategy to win back customers lost to artisanal coffee shops and cheaper fast-food rivals, did help Starbucks’ sales in its home market.

However, analysts said growth in China may continue to be subdued.

Wells Fargo analyst Bonnie Herzog said she expects store expansion in China to take priority over comparable sales growth.

She downgraded her rating on Starbucks’ to “market perform” from “outperform”, arguing that the company facing tough sales comparisons later on in 2019 from last year and the current rich valuation of shares meant the stock had limited room to rise.

“Investors will be hesitant to invest new money in a stock with a topline that, while still strong, is unlikely to meaningfully accelerate,” Herzog said.

Still, the company’s solid same-store growth in the United States, improving profit margins and a lower tax rate for the rest of the year led at least 6 Wall Street brokerages to raise their price targets on the stock to as high as $81.

11 of 29 brokerages rate Starbucks “buy” or higher, 17 “hold” and 1 “sell” or lower. Their median price target is $75.

(Reporting by Uday Sampath in Bengaluru)

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