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Uber files for IPO, lifting curtain on finances

FILE PHOTO: The Uber Hub is seen in Redondo Beach
FILE PHOTO: The Uber Hub is seen in Redondo Beach, California, U.S., March 25, 2019. REUTERS/Lucy Nicholson

April 11, 2019

NEW YORK (Reuters) – Uber Technologies Inc on Thursday filed publicly with the U.S. Securities and Exchange Commission for its initial public offering (IPO), taking it a step closer to one of the largest technology stock listings of all time.

The Uber filing gives the first comprehensive financial picture of the ride-hailing and transportation services company. Started in 2009 after its founders struggled to get a cab on a snowy night, Uber has changed the way millions of people travel and commute but continues to lose money.

The filing revealed Uber had 91 million users on its platforms at the end of 2018.

Reuters reported this week that Uber plans to sell around $10 billion worth of stock at a valuation of between $90 billion and $100 billion. Investment bankers had previously told Uber it could be worth as much as $120 billion.

(Reporting by Joshua Franklin in New York; Editing by Meredith Mazzilli)

Source: OANN

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UK government focused on passing Brexit law, talks with Labour Party continue: spokesman

Britain's Prime Minister Theresa May and her husband Philip leave church in Sonning
Britain's Prime Minister Theresa May and her husband Philip leave church in Sonning, Britain April 21, 2019. REUTERS/Hannah McKay

April 23, 2019

LONDON (Reuters) – Prime Minister Theresa May’s government is focused on passing the law it needs to ratify Britain’s exit from the European Union, May’s spokesman said on Tuesday.

The spokesman told reporters talks with the opposition Labour Party on finding a way forward on Brexit would require compromise on both sides, and that the legislation could be introduced to make progress with the Brexit process.

(Reporting by Kylie MacLellan, writing by William James)

Source: OANN

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Tesla begins sales of cheapest yet Model 3 car variant in China

People walk past a showroom outside Tesla China headquarters in Beijing
FILE PHOTO: People walk past a showroom outside Tesla China headquarters at China Central Mall in Beijing, China July 11, 2018. REUTERS/Jason Lee

April 12, 2019

SHANGHAI (Reuters) – U.S. electric vehicle (EV) maker Tesla Inc on Friday said it has started taking orders in China for a lower-priced version of its Model 3 car, as it seeks to expand its lineup and boost sales in the world’s biggest EV market.

The California-based firm said in a statement that Chinese customers can now order a standard range Model 3 variant whose starting price of 377,000 yuan ($56,167) will make it the cheapest version of the car in China.

The model will be equipped with Tesla’s Autopilot assisted driving function, the automaker said.

Tesla has been adjusting prices of its U.S.-made cars in China to remain affordable in the country, a move also aimed at fending off competition from a swathe of domestic EV startups such as Nio Inc, Byton and XPeng Motors.

Previously, the starting price for a Model 3 in China was 407,000 yuan for a rear-wheel-drive long range version with no Autopilot.

Tesla currently imports all the cars it sells in China. It is building a factory in Shanghai that will initially manufacture Model 3 cars.

(Reporting by Yilei Sun and Brenda Goh; Editing by Christopher Cushing)

Source: OANN

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Report: Man arrested on weapons charge faced similar in 2006

A newspaper reports a New Mexico man, who is a member of an armed civilian group that has detained migrants at the border, was arrested on a criminal complaint accusing him of being a felon in possession of firearms and faced similar charges 13 years ago in Oregon.

The Santa Fe New Mexican says 69-year-old Larry Mitchell Hopkins also was accused of impersonating a police officer in Oregon's Klamath County in 2006 and claimed to be a fugitive bounty hunter.

The FBI arrested Hopkins in Sunland Park, New Mexico, on a federal complaint Saturday.

Albuquerque FBI spokesman Frank Fisher says additional information about Hopkins won't be released until after his initial appearance Monday in a Las Cruces federal court.

___

Information from: The Santa Fe New Mexican, http://www.santafenewmexican.com

Source: Fox News National

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Walter Jones and the Vote to End US War on Yemen

In a fitting legacy for my friend Walter Jones, Jr. who passed away last week, the US House made history by voting in favor of H.J.Res. 37, a resolution “Directing the removal of United States Armed Forces from hostilities in the Republic of Yemen that have not been authorized by Congress.” As George O’Neill wrote in the American Conservative magazine this week, the historic 248-177 victory for a bill demanding the end of the US participation in the nearly five year Saudi war of aggression “reflects how many hearts and minds were influenced by the late Congressman’s tireless efforts.”

Walter Jones did not care who controlled Congress. He was happy to join forces with any Member to end the senseless US global military empire, which sends thousands of young men and women off to patrol foreign borders, overthrow foreign governments, and needlessly put themselves at risk in missions that have nothing to do with the safety and security of the United States.

US participation in the Saudi war on Yemen is a classic example of the abuse of the US military that made Walter Jones most angry. When the Saudis decided in 2015 that they wanted their puppet to be Yemen’s president, they launched a brutal and inhuman war that many call the worst humanitarian disaster of our time. Millions face starvation as Saudi bombs and US sanctions combine to create a hell on earth that is unrelated in any way to US national security.

Why this ongoing support for Saudi death and destruction in Yemen? Washington’s neocons have successfully promoted the lie that the Saudi attack on Yemen is all about preventing Iran from gaining more strength in the Middle East. Ironically it was the neocon-backed US attack on Iraq in 2003 that provided the biggest boost for Iranian influence in the region. Now, after Iraq’s “liberation,” Baghdad’s ties to Tehran are closer than ever.

Meanwhile, who exactly are we supporting in Yemen? Even CNN, normally a big backer of US military actions overseas, has noticed something funny about US participation in the Saudi war on Yemen. As a CNN investigation found this month, “Saudi Arabia and its coalition partners have transferred American-made weapons to al Qaeda-linked fighters, hardline Salafi militias, and other factions waging war in Yemen, in violation of their agreements with the United States.” Does that sound like we are on the side of the “good guys” in this battle? We are helping the Saudis arm al-Qaeda? Is this really a smart move?

So we should be encouraged that Walter Jones’ legacy is being honored in the House vote to end the US participation in the Yemen war. While US “humanitarian” aid is being used as a weapon for regime change in Venezuela, the warmongers in Washington have never lifted a finger to help those suffering from a real genocide in Yemen.

If the Yemen War Powers resolution passes the Senate, which is likely, Congress will have provoked the first veto from President Trump. Such a veto should not discourage us. Even the strongest army cannot stop an idea whose time has come. Ending senseless US wars is an idea whose time has come. We can thank Walter Jones for his role in making it so.

This article first appeared at RonPaulInstitute.org.


Source: InfoWars

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NYPD: Man with gas cans tried to enter St. Patrick’s church

A New Jersey man has been arrested outside St. Patrick's Cathedral in New York City with two jugs of gasoline.

Police say church personnel stopped the 37-year-old man from entering the landmark cathedral in Manhattan at about 9 p.m. Wednesday. Authorities were investigating whether the unidentified man is emotionally disturbed.

There is currently a heavy police presence outside the cathedral on Fifth Avenue. The incident comes just days after flames ravaged the Notre Dame cathedral in Paris.

St. Patrick's Cathedral, which was built in 1878, has installed a sprinkler-like system during recent renovations and its wooden roof is coated with fire retardant.

Source: Fox News National

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White House celebrates release of Mueller report summary: 'NO COLLUSION!'

Trump administration officials reacted with jubilation Sunday after Attorney General William Barr released the "principal conclusions" of Special Counsel Robert Mueller's investigation into allegations that members of Trump's 2016 campaign colluded with Russian officials.

According to Barr, the special counsel's investigation "did not find that the Trump campaign, or anyone associated with it, conspired or coordinated with the Russian government" or Russia-linked organizations in either "disinformation and social media operations" or "computer hacking operations designed to gather and disseminate information to influence the [2016] election."

White House Director of Social Media Dan Scavino was the first to react to the news, tweeting: "As we already knew, NO COLLUSION! Nothing different from what President @realDonaldTrump has been saying for the past TWO YEARS!!!"

Scavino was quickly followed by White House Press Secretary Sarah Sanders, who said in a statement: "The Special Counsel did not find any collusion and did not find any obstruction. Attorney General Barr and Deputy Attorney General [Rod] Rosenstein further determined there was no obstruction [of justice]. The findings of the Department of Justice are a total and complete exoneration of the President of the United States.”

President Trump had no immediate reaction to the news.

This is a developing story; check back for more updates. 

Source: Fox News Politics

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The headquarters of Wirecard AG is seen in Aschheim near Munich
FILE PHOTO: The headquarters of Wirecard AG, an independent provider of outsourcing and white label solutions for electronic payment transactions is seen in Aschheim near Munich, Germany April 25, 2019. REUTERS/Michael Dalder

April 26, 2019

BERLIN (Reuters) – Wulf Matthias will not stand for a second term as Wirecard’s chairman in 2020, German daily Handelsblatt said on Friday, citing sources in the financial industry.

For age reasons alone this would not be an option for Matthias, aged 75, Handelsblatt added.

Matthias will keep his mandate until it ends in 2020, the paper quoted a company spokeswoman as saying.

Wirecard was not immediately available for comment when contacted by Reuters.

(Reporting by Tassilo Hummel; Editing by Thomas Seythal)

Source: OANN

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FILE PHOTO: The Credit Suisse logo is pictured on a bank in Geneva
FILE PHOTO: The Credit Suisse logo is pictured on a bank in Geneva, Switzerland, October 17, 2017. REUTERS/Denis Balibouse/File Photo

April 26, 2019

ZURICH (Reuters) – Shareholders approved Credit Suisse’s 2018 compensation report with an 82 percent majority on Friday, overriding frustrations expressed at its annual general meeting over jumps in executive pay during a year its share price plummeted.

Three shareholder advisers had recommended investors vote against Switzerland’s second-biggest bank’s remuneration report, while a fourth backed the report but expressed reservations about whether management pay matched performance.

The approval marked a slight increase over the 80.8 percent support garnered for the bank’s 2017 compensation report.

(Reporting by Brenna Hughes Neghaiwi; Editing by Michael Shields)

Source: OANN

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FILE PHOTO: Traders work on the trading floor of Barclays Bank at Canary Wharf in London
FILE PHOTO: Traders work on the trading floor of Barclays Bank at Canary Wharf in London, Britain December 7, 2018. REUTERS/Simon Dawson/File Photo

April 26, 2019

By Simon Jessop and Sinead Cruise

LONDON (Reuters) – Activist investor Edward Bramson is likely to fail in his attempt to get a board seat at Barclays’ annual meeting next week, even though shareholders are dissatisfied with performance of the group’s investment bank.

New York-based Bramson’s Sherborne Investors and the board of the British bank have been sparring for months over Barclays’ strategy.

Bramson wants to scale back Barclays’ investment bank to reduce risk and boost shareholder returns. Barclays Chief Executive Jes Staley remains staunchly committed to growing the business out of trouble.

After failing to persuade Staley to change course since he began building a 5.5 percent stake in the bank in March last year, Bramson hopes a board seat will rachet up the pressure.

Both sides have written to shareholders pitching their case and Bramson has courted investors in one-on-one meetings, although none have publicly backed him yet.

Interviews by Reuters with five institutional investors in Barclays suggest Bramson has failed to persuade them.

Sherborne declined to comment.

Mirza Baig, head of investment stewardship at top-40 shareholder Aviva Investors, said Bramson was welcome on the bank’s register but the boardroom was a step too far.

“He has created a lot of value at other businesses, but, generally, when he has come in as executive chair and taken full control. This would be a different case where he would just be one lone voice on the board,” he said.

A second Barclays shareholder said he backed Bramson’s goal of improving returns but via an “evolutionary” approach.

“If you look at banks that have tried to restructure their operations in investment banking – you look at Natwest Markets, Deutsche Bank – I struggle to think of an example where a roughshod restructuring has been accretive to shareholder value.”

A third, top-30 investor said he had been impressed by incoming Chairman Nigel Higgins’ grasp of the challenge in hand, and felt investors would give him time.

“Management know they have to execute and deliver improved returns… [Higgins] will continue to re-shape the board but obviously he didn’t feel that having someone with a diametrically opposed view on it would be helpful.”

A fourth, top-30 investor agreed: “We voted for the chairman to come in and it would be crazy to allow an activist to join the board (at this time).”

Jupiter Fund Management, the 24th largest investor, said it also planned to vote against Bramson.

Barclays has nearly 500 institutional shareholders, Refinitiv data showed.

Since Staley joined Barclays in 2015, the investment bank returns relative to capital invested have increased but are still underperforming the overall business.

Barclays’ first-quarter figures showed the investment bank posted a 6 percent drop in income from its markets business and a 17 percent fall in banking advisory fees.

Returns in the investment bank fell to 9.5 percent from 13.2 percent a year ago.

Famed for successful campaigns against smaller British companies in sectors from chemicals to advertising, Bramson’s board seat pitch has been rebuffed by shareholder advisory firms.

Institutional Shareholder Services, the world’s biggest, said Bramson’s proposal “falls short of what can reasonably be expected from a shareholder trying to address issues at a 28 billion pounds, systemically important bank”.

Glass Lewis also flagged concern about Bramson’s lack of banking experience and “questionable” shareholding structure, referring to Sherborne’s use of derivative contracts to hedge losses should its strategy fail.

Critics said the arrangement meant his interests are not truly aligned with those of other long-term shareholders.

British advisory firm Pirc, however, said it recommended that investors abstain in the vote on Bramson’s proposal as a challenge to the board to do better in the year ahead – or face a similar contest in 2020.

(Editing by Jane Merriman)

Source: OANN

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https://a57.foxnews.com/static.foxnews.com/foxnews.com/content/uploads/2019/04/918/516/02_2.jpg?ve=1&tl=1

After an over 15-month pregnancy, “Akuti,” a 7-year-old Greater One Horned Indian Rhinoceros, gave birth as a result of induced ovulation and artificial insemination at Zoo Miami, April 23, 2019.

Ron Magill/Zoo Miami

https://a57.foxnews.com/static.foxnews.com/foxnews.com/content/uploads/2019/04/918/516/02_2.jpg?ve=1&tl=1

Source: Fox News World

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FILE PHOTO: File photo of a Chevron gas station sign in Del Mar, California
FILE PHOTO: A Chevron gas station sign is seen in Del Mar, California, in this April 25, 2013 file photo. REUTERS/Mike Blake/File Photo

April 26, 2019

(Reuters) – U.S. oil and natural gas producer Chevron Corp reported a 27 percent fall in quarterly earnings on Friday, hit by lower crude prices and weaker margins in its refining and chemicals businesses.

Net income attributable to the company fell to $2.65 billion, or $1.39 per share, for the first quarter ended March 31, from $3.64 billion, or $1.90 per share, a year earlier.

Earlier in the day, larger rival Exxon Mobil Corp reported earnings well below analysts’ estimates, as margins in its refining business were hurt by higher Canadian prices and heavy scheduled maintenance.

(Reporting by Arathy S Nair in Bengaluru; Editing by Saumyadeb Chakrabarty)

Source: OANN

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