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Industrials’ gains put to test as earnings ramp up

FILE PHOTO: Traders work on the floor at the NYSE in New York
FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 9, 2019. REUTERS/Brendan McDermid

April 12, 2019

By Caroline Valetkevitch

NEW YORK (Reuters) – Investors betting on industrial stocks this year have been rewarded, with the group among the best-performing sectors so far, but that strength will be tested in the coming weeks as companies report results.

Industrials have outperformed the broader market this year, thanks in part to optimism that the United States may soon have a trade deal with China, as well as expectations the Federal Reserve will not raise interest rates again any time soon.

As first-quarter earnings for S&P 500 companies ramp up, investors will hear from Honeywell International, Union Pacific Corp. and Kansas City Southern next week.

The S&P 500 industrials index is up more than 19% for the year so far, compared with a roughly 15% gain in the S&P 500.

While industrial stocks and the rest of the market have risen on hopes that a China trade deal is near, executives have warned about the conflict’s impact, with the industrials space seen as one of the most sensitive.

Costs for certain raw materials have increased as the United States imposed tariffs on imports from China and other countries.

Investors will likely hear more this earnings period about the effects of the tariffs, and weakness in China and the rest of the global economy, on U.S. companies.

“Industrials and tech have been two of the sectors that have called out the risks from trade frequently on earnings calls,” said Jill Carey Hall, equity and quant strategist at Bank of America-Merrill Lynch.

“Some of them have seen valuations or estimates come down substantially on those risks.” Because of that, industrial companies could have further to gain if there is a trade deal or any reversal to existing tariffs, she said. The bank has an overweight rating on industrials this year.

The sector has continued to outperform even with problems for one of its leaders. Boeing shares were pummeled last month after its popular 737 MAX jet was involved in a second fatal crash and the aircraft was grounded worldwide.

Results and comments from Boeing, airlines and aerospace suppliers also are likely to generate investor attention.

Wall Street analysts have been trying to gauge the financial hit to Boeing since the March deadly plane crash in Ethiopia.

At the same time, Southwest Airlines Co has cut its financial outlook for the year after being forced to pull its new fleet of 34 Boeing 737 MAX planes out of service, and United Airlines has said it would see an adverse effect on its operations if the jets remained grounded heading into the peak summer travel season.

“There’s certainly risk at companies that sell into Boeing planes, although what we’re hearing is Boeing hasn’t so far cut back on any supplier orders. That could be in second-quarter forecasts,” said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York.

Boeing’s results are due April 24. Lockheed Martin and other aerospace and defense names are due the same week.

Those bullish on the industrials sector also argue that its valuation remains attractive despite this year’s strong gains.

The S&P 500 industrial index is trading at 15.9 times forward 12-month earnings, still among the lowest of the 11 S&P sector and below the benchmark S&P 500’s 16.8 price-to-earnings ratio, according to IBES data from Refinitiv.

First-quarter earnings for the sector are expected to have increased just 1.6% from a year earlier, though that’s better than the expected 2.3% decline in overall S&P 500 earnings, based on Refinitiv’s data.

Analysts see General Electric Co. as the largest drag on the industrials sector’s first-quarter earnings, based on Refinitiv’s data. If GE’s results are removed, the sector’s earnings are expected to have increased 4.0%. GE is due to report April 30.

Year-over-year quarterly revenue for industrials is forecast to have gained 2.9% versus a 4.9% increase expected for the S&P 500.

(Reporting by Caroline Valetkevitch; Editing by Alistair Bell)

Source: OANN

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‘Fight and talk’: Afghan war escalates alongside peace push

FILE PHOTO: Afghan National Army (ANA) officers take part in a training exercise at the Kabul Military Training Centre (KMTC) in Kabul, Afghanistan
FILE PHOTO: Afghan National Army (ANA) officers take part in a training exercise at the Kabul Military Training Centre (KMTC) in Kabul, Afghanistan October 17, 2017. REUTERS/Omar Sobhani/File Photo

April 1, 2019

By Rod Nickel and Hamid Shalizi

KABUL (Reuters) – Fighting in Afghanistan has escalated ahead of the usual spring season, as both sides seek to increase leverage in talks on a peace settlement – a gamble that analysts warn could also risk hardening positions.

In March, hundreds of Afghan forces were killed or wounded in heavy clashes in southern, western and northern Afghanistan, according to unofficial reports. Two U.S. special forces were killed near Kunduz, and attacks by both sides caused civilian casualties. U.S. air strikes also accidentally killed Afghan soldiers, in a case of friendly fire.

“Government forces are on the offensive this year. We expect a lot of fighting and obviously casualties,” said a senior Afghan security source.

Seasonal trends to fighting have become less defined over the years, as most Taliban now fight near their homes and so do not need to wait for snow to melt in the mountain passes to travel to battlefields, said Graeme Smith, a consultant for the International Crisis Group (ICG).

Even so, the Taliban annually announces the start of a spring offensive with fanfare and a name evoking epic importance, such as last year’s “Al Khandaq” campaign – named after the Battle of the Trench, fought by the Prophet Mohammad to defend the city of Medina in Islam’s early days.

This year, Afghan forces beat the Taliban to naming their offensive, launching a spring operation dubbed “Khaled”, an Arabic word for “endless”, said the Afghan security source.

“The objective of the operations this year will be to improve intelligence gathering and targeted strikes against the enemy,” he said.

The “fight and talk” strategy has been used to describe the Afghan war as far back as the Obama U.S. presidency. One diplomat said Afghanistan’s escalation follows a similar path of greater fighting in South Sudan and Colombia ahead of peace settlements for those conflicts.

But for a country 17 years into its latest war, the escalation only adds to a sense of discouragement.

Rising violence also comes with the risk that positions will harden, deferring a settlement, rather than creating urgency that could bring the sides together, said the ICG’s Smith.

Afghanistan Chief Executive Abdullah Abdullah, asked about the more aggressive strategy, said it simply reflected a need to be ready for every possibility.

“If the government and the Taliban agreed on a ceasefire, then the security defense forces will act accordingly,” he told reporters in Kabul.

Pentagon spokesman Lieutenant-Colonel Kone Faulkner said in an email that there has been “no change” in U.S. policies and in its partnered fighting with Afghan forces.

TALIBAN GEARING UP

The latest round of recurring peace talks ended in early March with both U.S. and Taliban officials citing progress. The start of the next round has not been announced, but is expected this month.

The negotiations came amid fierce fighting in several corners of Afghanistan, from Kunduz province in the north to Helmand in the south and Badghis in the northwest.

Some 100 members of Afghan forces were killed in two attacks in Badghis and Helmand. Thirteen civilians, including 10 children, died in a U.S. air strike in Kunduz and more civilians died in a Helmand stadium attack by the Taliban.

Ninety-four members of the Taliban died in a single battle near Kunduz city, according to NATO’s Resolute Support Mission, which is supported by troops from 39 countries to train, advise and assist Afghan forces. Fighting in the province killed two U.S. soldiers a day earlier.

The Taliban, meanwhile, met recently to discuss the timing and name of its spring campaign, said a Taliban leader, speaking on condition of anonymity.

“Our focus would be more specifically on targeted operations,” the leader said. “Our top priority would be minimizing civilian losses.”

Some Taliban leaders had suggested simply continuing ongoing operations and awaiting the outcome of peace talks, he said. But the group decided against further delay once Afghan forces launched its Khaled offensive, he said.

Taliban spokesman Zabihullah Mujahid said the group would launch its spring offensive in about a month when the weather warms.

One diplomat, whose country supplies soldiers to the Resolute Support mission, said he doubted the Taliban wanted to stop fighting, because it would be difficult to quickly regain the insurgency’s fighting capability if its forces dispersed.

“The Taliban’s leverage is their military activities,” a second diplomat said.

Both spoke on condition of anonymity because of the sensitivity of talks.

Increased fighting also heightens concerns about civilian casualties, after a record 3,804 civilians were killed last year, said Anthony Neal, advocacy manager for the Norwegian Refugee Council in Afghanistan.

More conflict has also forced nearly 4,000 people from their homes in the last three months alone, he said.

(Reporting by Rod Nickel and Hamid Shalizi in Kabul; Additional reporting by Jibran Ahmad in Peshawar, Pakistan; Editing by Alex Richardson)

Source: OANN

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NHL selects William Hill as an official sports betting partner

NHL: Vegas Golden Knights at Colorado Avalanche
Mar 27, 2019; Denver, CO, USA; Vegas Golden Knights center Paul Stastny (26) controls the puck ahead of Colorado Avalanche center Nathan MacKinnon (29) in the third period at the Pepsi Center. Mandatory Credit: Isaiah J. Downing-USA TODAY Sports

March 28, 2019

By Hilary Russ

(Reuters) – The National Hockey League said on Thursday that the U.S. division of UK bookmaker William Hill Plc will become an official sports betting partner of the NHL.

The league will get marketing revenue from the sports book, which can use NHL brands in advertising. Terms of the multiyear deal were not disclosed.

Such commercial deals between sports leagues and bookmakers have been coming quickly since the U.S. Supreme Court ruled last May to allow states to legalize, regulate and tax sports wagering.

Eight states now offer legal sports betting, including Nevada, which was never subject to the prior federal ban and has sanctioned sports wagering for years.

William Hill already has partnership deals with two NHL teams, the Vegas Golden Knights and New Jersey Devils.

The NHL in November announced a sports wagering partnership with FanDuel Group, a unit of Paddy Power Betfair Plc, coming on the heels of an agreement with MGM Resorts International.

“We continue to work directly with stakeholders to cultivate relationships across the sports betting landscape,” NHL Commissioner Gary Bettman said in a statement. “Partnering with William Hill US, a leader in both the sports book and mobile betting marketplace, provides a tremendous opportunity to further fan engagement.”

(Reporting by Hilary Russ; Editing by Jeffrey Benkoe)

Source: OANN

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Smollett damage control seen in internal email from Foxx's office as she defends 'alternative prosecution model'

An internal email from the office of Cook County State’s Attorney Kim Foxx, obtained by Fox News on Wednesday, asked assistant state's attorneys to dig for any examples to bolster Foxx’s claim that the dropped charges in the Jussie Smollett case weren’t as uncommon or shocking as they seemed.

The email read in part, “We are looking for examples of cases, felony preferable, where we, in (exercising) our discretion, have entered into verbal agreements with defense attorneys to dismiss charges against an offender if certain conditions were met...”

The email added, “Nobody is in trouble, we are just looking for further examples of how we, as prosecutors, use our discretion in a way that restores the victim…”

It was not clear who sent it, and exactly when it was sent. Foxx recused herself from the case last February but defended her office offering Smollett “an alternative prosecution model” in a series of interviews Wednesday.

An internal email from Kim Foxx’s office obtained by Fox News asked workers to dig for examples bolstering Foxx’s claim that the dropped charges in the Jussie Smollett case weren’t as uncommon or shocking as they seemed. (Getty, File)

An internal email from Kim Foxx’s office obtained by Fox News asked workers to dig for examples bolstering Foxx’s claim that the dropped charges in the Jussie Smollett case weren’t as uncommon or shocking as they seemed. (Getty, File)

Illinois Attorney Rod Drobinski told Fox News that because a special prosecutor was not appointed in the Smollett case, there were appearances of impropriety on behalf of Foxx's office. “Even the prosecutor said it was a strong case. That makes it even more unusual that they didn’t demand that he admit to what he did as part of this dismissal.”

CHICAGO FRATERNAL ORDER OF POLICE: 'BAFFLED' SMOLLETT CHARGES DROPPED, 'INTERESTED IN HAVING FEDERAL AUTHORITIES' LOOK INTO CASE

Foxx has been defending the decision by her staff to drop charges against the “Empire” actor after investigators revealed he allegedly staged a racist, anti-gay attack.

Foxx told Fox 32 on Wednesday she believed the matter was handled properly for a case of its kind. She pointed to Smollett forfeiting his $10,000 bond and doing community service.

“When we look at similarly situated people charged with this offense, without a background, I think in this case, justice was, um, appropriate,” Foxx told Fox 32 Chicago. “He was availed to an alternative prosecution model that anyone without these riches, without this fame, would also be availed to.”

Cook County prosecutors dismissed all charges but still maintained Smollett lied about being attacked in downtown Chicago on Jan. 29. And Mayor Rahm Emanuel has called the dropping of charges “a whitewash.”

Smollett’s attorney, Patricia Brown Holmes, said in a statement: “We are disappointed the local authorities have continued their campaign against Jussie Smollett after the charges against him have been dropped. The facts are clear.  The Assistant State’s Attorney appeared in court and dismissed the charges. Mr. Smollett forfeited his bond. The case is closed. No public official has the right to violate Mr. Smollett’s due process rights. Mr. Smollett, like every citizen, is innocent until proven guilty in a court of law. Mr. Smollett is entitled to the same Constitutional protections as any citizen charged by the government with a crime— including the right to speak freely about his innocence, the right to be viewed as innocent until proven guilty in a court of law, and the right to hold the State to its burden of proving him guilty beyond a reasonable doubt.  None of that has occurred in this case.”

The National District Attorneys Association, which claims to represent roughly 2,700 prosecutors’ offices around the country, heavily criticized Foxx in a statement to Fox News.

“First, when a chief prosecutor recuses him or herself, the recusal must apply to the entire office, not just the elected or appointed prosecutor. This is consistent with best practices for prosecutors’ offices around the country,” the statement began.

CLICK HERE FOR THE FOX NEWS APP

It added, “Second, prosecutors should not take advice from politically connected friends of the accused. Each case should be approached with the goal of justice for victims while protecting the rights of the defendant. Third, when a prosecutor seeks to resolve a case through diversion or some other alternative to prosecution, it should be done so with an acknowledgement of culpability on the part of the defendant. A case with the consequential effects of Mr. Smollett’s should not be resolved without a finding of guilt or innocence.”

The statement concluded: “Fourth, expunging Mr. Smollett’s record at this immediate stage is counter to transparency. Law enforcement will now not be able to acknowledge that Mr. Smollett was indicted and charged with these horrible crimes and the full record of what occurred will be forever hidden from public view. Finally, we believe strongly that hate crimes should be prosecuted vigorously but the burden of proof should not be artificially increased due to the misguided decisions of others.”

The Associated Press contributed to this report.

Source: Fox News National

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U.S. senators introduce bill to sanction Turkish officials over detentions

FILE PHOTO: U.S. President Trump welcomes Pastor Brunson home from Turkish detention
FILE PHOTO: U.S. President Donald Trump closes his eyes in prayer along with Pastor Andrew Brunson, after his release from two years of Turkish detention, in the Oval Office of the White House, Washington, U.S., October 13, 2018. REUTERS/Mike Theiler/File Photo

April 9, 2019

By Humeyra Pamuk

WASHINGTON (Reuters) – Two U.S. senators on Tuesday introduced a bipartisan bill requiring the imposition of sanctions on Turkish officials responsible for the detentions of U.S. citizens and local consulate staff in Turkey, a statement on the legislation said.

The bill, introduced by Republican Senator Roger Wicker and Democrat Ben Cardin, also calls on President Donald Trump to urge Turkey to respect for the fundamental freedoms, saying thousands were victims of politically-motivated prosecution.

“The Turkish government’s false imprisonment of Americans and Turkish citizens employed by the United States in Turkey is a gross violation of their human rights,” Senator Cardin said in the statement. “Our bill makes clear that the United States will not tolerate years of Turkish recalcitrance on these cases.”

The detention of U.S. consulate workers and American citizens is one of many issues dividing NATO allies Ankara and Washington, also at loggerheads over Syria policy and Turkey’s planned purchase of Russian missile defenses.

Their detentions prompted Washington in October 2017 to suspend all non-immigrant visa applications from the country, triggering a reciprocal move from Ankara that contributed to a deep crisis in bilateral ties.

The bill introduced Tuesday would require the U.S. administration to impose sanctions on all senior Turkish officials responsible for the “wrongful” detentions of U.S. citizens and staff, including barring the officials from travel to the United States and freezing any U.S. assets.

Turkey has detained tens of thousands of people following a failed coup in July 2016, saying they were linked with the network of Fethullah Gulen, a U.S.-based Islamic cleric blamed by Ankara for orchestrating the putsch.

U.S. pastor Andrew Brunson was among those jailed in the aftermath of the coup. He was released last October.

“While the Turkish government made a step in the right direction with the release of Pastor Andrew Brunson last October, more needs to be done for Turkey to show good faith and act like a NATO ally,” said Republican Senator Thom Tillis, one of six original sponsors of Tuesday’s bill.

Serkan Golge, a dual Turkish-U.S. citizen, was found guilty of being a member of an armed terrorist organization earlier this year and sentenced to seven years, six months in prison.

Three other Turkish citizens who were working at the U.S. consulates in Turkey have been under investigation or jailed over similar charges.

A Turkish court last month ruled that one of the consular workers, Metin Topuz, a translator and fixer in Istanbul, should remain in jail until his trial resumes in June.

(Reporting by Humeyra Pamuk; Editing by Tom Brown)

Source: OANN

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Church sorry for Easter lesson encouraging attacks on pastor

An Ohio church has apologized for an Easter lesson in which a pastor encouraged students to slap, cut and spit on him — incidents that were captured in videos and posted online.

Justin Ross is lead pastor at Impact City Church in Pataskala (puh-TAS'-kuh-luh) near Columbus. He says the incident happened Monday at an organized hangout session for middle and high school students.

Ross says an associate pastor encouraged the attacks on himself as a way to help students learn about Easter and the crucifixion of Jesus.

The Columbus Dispatch reports that several students took the associate pastor up on the offer, and one cut him on the neck. Ross says cellphone recordings sparked backlash.

Ross said the topic was important, but the lesson went too far and was inappropriate.

___

Information from: The Columbus Dispatch, http://www.dispatch.com

Source: Fox News National

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2nd Amendment Foundation: Gun Control Efforts Misguided After New Zealand Attack

Proponents of gun control are misguided in their attempt to renew efforts on firearms restrictions in the United States in the wake of last week’s terror attack in Christchurch, New Zealand, where a gunman killed 50 worshipers in two mosques, says Alan Gottlieb, founder of the Second Amendment Foundation, USA reports.

In an opinion piece on Tuesday, Gottleib argues that gun control proponents hope American citizens “gripped by emotion, will overlook the obvious and agree that law-abiding gun owners should face additional restrictions on their rights.” He writes stricter gun laws would have no effect with people bent on doing harm, and said citizens needed to be able to protect themselves.

“The real lesson to be learned from the Christchurch massacre is that madmen aren’t deterred by gun control laws, or laws against murder. Morality doesn’t enter into their thinking, so honest people must be prepared for the unthinkable and be able to respond.

“The gun prohibition lobby hopes to capitalize on a terror attack half a world away in an effort to advance its agenda. Forget, for a moment, that the Second Amendment stands in their way. Focus on the irrational notion that somehow a defenseless victim is morally superior to an armed private citizen who can fight back and save lives,” he writes, adding, “Millions of law-abiding American gun owners should not be penalized because of murderers’ misdeeds.”

Instead, Gottlieb posits that the New Zealand attack “provides ample justification of our right to carry now exercised by millions of citizens who choose not to be victims.” He said Americans’ Second Amendment rights were “not negotiable.”

Gottlieb also notes that the New Zealand shooter acquired his firearms legally, as have most mass shooters in the U.S.

“We must not allow hysteria to overcome common sense. We must protect our right to defend ourselves, our families, and our communities from those to whom laws mean nothing,” Gottlieb concluded.

Source: NewsMax America

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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)

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