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Elizabeth Warren proposes canceling billions in student loan debt

FILE PHOTO: Democratic 2020 U.S. presidential candidate and U.S. Senator Elizabeth Warren (D-MA) speaks to supporters in Memphis
FILE PHOTO: Democratic 2020 U.S. presidential candidate and U.S. Senator Elizabeth Warren (D-MA) speaks to supporters in Memphis, Tennessee, U.S. March 17, 2019. REUTERS/Karen Pulfer Focht/File Photo

April 22, 2019

WASHINGTON (Reuters) – U.S. Senator Elizabeth Warren, who is seeking the Democratic nomination for the 2020 presidential election, wants to cancel billions of dollars in student loan debt and make college cheaper for students going forward.

Warren, in a post on the website Medium, proposed canceling $50,000 in student loan debt for anyone with annual household income under $100,000, which her campaign said would amount to 42 million Americans. It would also cancel some debt for those with household incomes between $100,000 and $250,000.

Warren, who has long advocated in Congress for providing debt relief to students, called student loan debt a “crisis.” She said canceling debt for millions of people would help close the nation’s racial and wealth gap, and also proposed making all two-year and four-year public colleges free.

“The first step in addressing this crisis is to deal head-on with the outstanding debt that is weighing down millions of families and should never have been required in the first place,” Warren wrote.

Warren is competing in a crowded field of more than 20 Democrats vying for their party’s 2020 nomination and has sought to distinguish herself by offering numerous, expansive policy proposals.

Anticipating Republican criticism that her proposal would be too expensive, Warren said her debt cancellation plan and universal free college could be paid for through an “Ultra-Millionaire Tax,” which would impose a 2 percent annual tax on families with $50 million or more in wealth.

Education has been a topic on the campaign trail for some of Warren’s rivals as well.

U.S. Senator Kamala Harris, another contender for the Democratic presidential nomination, released a plan last month that would use $315 billion in federal money over 10 years to give the average teacher a $13,500 raise, or about a 23 percent salary increase.

(Reporting By Yasmeen Abutaleb; Editing by Bill Berkrot)

Source: OANN

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Pence offers olive branch to California lawmakers, state assembly speaker responds with sarcastic rebuke

Vice President Mike Pence recently sent a letter to the leader of the California State Assembly in an attempt to ease the tensions between the White House and the Democrat-controlled statehouse in Sacramento.

The sarcastic reply from Assembly Speaker Anthony Rendon was probably not what he expected in return.

In late February, Pence penned a letter to Rendon offering an olive branch to the state that has been at the center of President Trump’s policies on everything from immigration to the environment, telling Rendon that the current White House administration values “the opportunity to work with you to build on our successes in the year ahead.”

CALIFORNIA GOV. NEWSOM CALLS TRUMP INCOMPETENT IN INAUGURAL SPEECH; VOWS TO FIGHT WH POLICIES

“We recognize that when California succeeds, America succeeds,” the vice president said in his letter.

Rendon’s reply to Pence – which was dated almost three weeks later – was not as diplomatic.

While Rendon does thank Pence for reaching out, he also says the Trump administration and its policies “have already done quite a bit to help” the state’s Democrat-controlled Assembly.

“Thanks to your policies, voters in California added five Democrats to the Assembly in the last election,” Rendon wrote. “In addition, one Republican has decided to jump to the Democratic Party, citing the President’s extreme positions. We now have a three-quarters majority — plus one.”

Assemblyman Brian Maienschein, who represents parts of the San Diego metropolitan area, jumped from the GOP to the Democrats in January and gave the party 61 out of 80 seats in the Assembly.

In his letter, Rendon goes on to question how Pence thinks the Trump administration is respecting California’s rights by waging “constant legal battles” and leveling threats against the state. Rendon also cites a laundry list of moves by the White House that buck initiatives in California – including revoking the state’s ability to set stricter car emission standards, moving to repeal the Affordable Care Act and threatening to hold back federal grant funding for the state’s proposed high-speed rail project.

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“Although you probably know this, I would add that your Administration has been largely unsuccessful in its court attempts to take away our rights as a state,” Rendon wrote. He specifically noted the Trump administration’s courtroom losses when trying to overturn California’s sanctuary city laws.

The state itself has sued the Trump administration 47 times in the past two years, according to the San Francisco Chronicle.

Source: Fox News Politics

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Uganda ruling party’s executive committee backs Museveni re-election bid

2019 World Economic Forum (WEF) annual meeting in Davos
FILE PHOTO - Uganda's President Yoweri Museveni attends the World Economic Forum (WEF) annual meeting in Davos, Switzerland, January 24, 2019. REUTERS/Arnd Wiegmann

February 20, 2019

Source: OANN

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Erdogan says Turkey will not go back on purchase of Russian S-400s

Turkish President Tayyip Erdogan addresses supporters during a rally for the upcoming local elections, in Istanbul
Turkish President Tayyip Erdogan gestures as he addresses AK Party and Nationalist Movement Party (MHP) supporters during a rally for the upcoming local elections, in Istanbul, Turkey March 24, 2019. REUTERS/Umit Bektas

March 24, 2019

ISTANBUL (Reuters) – Turkey will not go back on the purchase of S-400 missile systems from Russia no matter what the United States says, President Tayyip Erdogan said on Sunday.

He made the comment in an interview with broadcaster TGRT Haber.

The United States could soon freeze preparations for delivering F-35 fighter jets to Turkey, officials told Reuters, in what would be the strongest signal yet by Washington that Ankara cannot have both the advanced aircraft and Russia’s S-400 air defense system.

(Reporting by Ali Kucukgocmen)

Source: OANN

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Dollar weaker on dovish Fed bets, sterling seesaws

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

March 19, 2019

By Daniel Leussink

TOKYO (Reuters) – The dollar was under pressure on Tuesday, weighed by growing expectations the Federal Reserve would shift to a more accommodative policy stance this week and concerns about slower U.S. economic growth.

The dollar index, which measures the greenback against a basket of six major currencies, was a shade lower at 96.495, hovering close to a two-week low. The index has lost 1.2 percent after hitting a three-month high of 97.710 on March 7.

The dollar has weakened in recent sessions on growing expectations the Fed will strike a dovish tone at its two-day policy meeting due to start later on Tuesday.

Many investors expect the Fed, which has raised rates four times last year, to keep its benchmark overnight interest rate unchanged and stick to its pledge of a “patient” approach to monetary policy.

Masafumi Yamamoto, chief currency strategist at Mizuho Securities, said while the market is expecting more accommodative sentiments from the meeting, equity markets were unlikely to react positively to such a development.

“If the Fed really shows a gloomy outlook for growth and rates, then it’s also a negative for U.S. equities. Then that will be a negative for the dollar,” Yamamoto said.

“There is a high risk that whichever the outcome is, it will push down dollar/yen.”

As the dollar took a breather, other major currencies advanced by default. The yen rose 0.1 percent to 111.27 yen per dollar, extending its gains to a third session.

Sterling also gained, rising 0.1 percent to $1.3268. It had seesawed overnight after the speaker of Britain’s parliament said Prime Minister Theresa May’s Brexit deal could not be voted on again unless a different proposal was submitted.

The Bank of England is expected to leave its interest rate outlook unchanged at a policy meeting on Thursday due to the deep uncertainty over Britain’s decision to leave the European Union.

The euro was down a tad at $1.1335.

Investors’ focus on Tuesday was also on Germany’s ZEW economic index for March, due for release around 1000 GMT.

The German economy, Europe’s largest, barely avoided recession in the final quarter of last year, as the negative impact from global trade disputes and Brexit weighed on a decade of expansion.

“The ZEW expectation index has been improving for four consecutive months,” said Mizuho’s Yamamoto.

“If another month’s improvement is shown, then I think that will be quite positive for the euro.”

(Editing by Sam Holmes)

Source: OANN

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U.S. Navy ships pass through strategic Taiwan Strait, riling China

FILE PHOTO: US Navy destroyer USS Stethem transits waters east of the Korean peninsula
FILE PHOTO: The Arleigh Burke-class guided-missile destroyer USS Stethem transits waters east of the Korean peninsula during a photo exercise including the United States Navy and the Republic of Korea Navy during Operation Foal Eagle March 22, 2017. U.S. Navy/Mass Communication Specialist 3rd Class Kurtis A. Hatcher/Handout via REUTERS

February 26, 2019

By Idrees Ali

WASHINGTON (Reuters) – The United States sent two Navy ships through the Taiwan Strait on Monday as the U.S. military increased the frequency of movement through the strategic waterway despite opposition from China.

The voyage risks further raising tensions with China but will likely be viewed by self-ruled Taiwan as a sign of support from the Trump administration amid growing friction between Taipei and Beijing.

The movement comes as U.S. President Donald Trump said the United States and China were “very, very close” to a deal to end a months-long trade war that has slowed global growth and disrupted markets.

The U.S. Navy’s passage through the Taiwan Strait also came just days before a summit between Trump and North Korea’s Kim Jong Un.

“The ships’ transit through the Taiwan Strait demonstrates the U.S. commitment to a free and open Indo-Pacific,” the U.S. Pacific Fleet said in a statement.

The two ships were identified as the destroyer Stethem and Navy cargo and ammunition ship Cesar Chavez, the statement said. The 180 km-wide (112 miles) Taiwan Strait separates Taiwan from China.

There was no immediate reaction from China, which has previously expressed its opposition to such exercises.

Taiwan’s Defence Ministry said on Tuesday the U.S. ships had already left the strait, following a northerly route.

Taiwan’s armed forces had kept watch on the sailing and noticed nothing out of the ordinary, so there was no cause for alarm, it said.

Washington has no formal ties with Taiwan but is bound by law to help defend the island nation and is its main source of arms. The Pentagon says Washington has sold Taiwan more than $15 billion in weaponry since 2010.

China has been ramping up pressure to assert its sovereignty over the island, which it considers a wayward province of “one China” and sacred Chinese territory.

Beijing’s concerns about Taiwan are likely to factor strongly into this year’s Chinese defense budget, following a stern new year’s speech from President Xi Jinping, threatening to attack Taiwan should it not accept Chinese rule.

China has repeatedly sent military aircraft and ships to circle the island on drills in the past few years and worked to isolate the island internationally, whittling down its few remaining diplomatic allies.

The U.S. Defense Intelligence Agency released a report earlier this year describing Taiwan as the “primary driver” for China’s military modernization, which it said had made major advances in recent years.

Democratic Taiwan has shown no interest in being run by autocratic 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.

(Reporting by Idrees Ali; Additional reporting by Ben Blanchard in BEIJING and Yimou Lee in TAIPEI; Editing by Jeffrey Benkoe and Paul Tait)

Source: OANN

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Turkey: 9 detained in opposition leader’s assault at funeral

Turkey's interior minister says nine people have been detained in the assault of an opposition party leader, who was hit during a soldier's funeral.

Several protesters threw punches at Republican People's Party leader Kemal Kilicdaroglu at the funeral outside Ankara on Sunday. Kilicdaroglu was not injured.

Interior Minister Suleyman Soylu said Monday nine people were detained for questioning.

The soldier was killed Saturday in clashes with Kurdish rebels. Soylu appeared to justify Kilicdaroglu's assault by referring to the support a pro-Kurdish gave the opposition during Turkey's March 31 municipal elections.

Soylu said: "Everyone must take sides against the (rebels)."

The Republican People's Party won the mayoral elections in Ankara and Istanbul, supplanting President Recep Tayyip Erdogan's party.

Erdogan led a divisive campaign, equating opposition parties with terrorists.

Source: Fox News World

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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)

Source: OANN

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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)

Source: OANN

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