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Honda’s China sales likely to catch U.S. sales in two-three years: CEO

A Honda Li Nian EV concept car is displayed during a media preview of the Auto China 2018 motor show in Beijing
A Honda Li Nian EV concept car is displayed during a media preview of the Auto China 2018 motor show in Beijing, China April 25, 2018. REUTERS/Jason Lee

April 12, 2019

WUHAN, China (Reuters) – Honda’s sales in China are likely to catch up with its sales in the United States within two to three years and the firm would like them to eventually overtake U.S. sales, the company’s chief executive said on Friday.

Takahiro Hachigo made the comments to a small group of reporters after the official opening of a new plant in Wuhan.

Hachigo said that the catch-up could happen “soon”, later clarifying to Reuters that he was referring to a two-to-three-year time period.

“We would like China sales to overtake the U.S.,” he said, adding that the company did not expect U.S. sales to increase significantly.

Honda’s manufacturing capacity in China could be expanded if necessary, he added.

Honda last year sold roughly 1.7 million vehicles in the United States and 1.4 million in China.

(Reporting by Norihiko Shirouzu in Wuhan; writing by Yilei Sun in Shanghai; editing by Richard Pullin)

Source: OANN

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Palestinians injured in protests at Gaza border ahead of anniversary rally

Palestinian protester moves a burning tire during clashes with Israeli troops in Hebron, in the occupied West Bank
A Palestinian protester moves a burning tire during clashes with Israeli troops in Hebron, in the occupied West Bank March 29, 2019. REUTERS/Mussa Qawasma

March 29, 2019

GAZA (Reuters) – Israeli troops shot and wounded seven Palestinians on the Gaza border on Friday, Gaza medical officials said, the day before a mass rally called to mark the first anniversary of weekly protests in which around 200 Palestinians have been killed.

Despite a decision by Gaza protest organisers not to hold a big demonstration on Friday some Palestinians turned out, although in smaller numbers than usual. Humanitarian officials urged restraint for Saturday’s anniversary to avoid any further bloodshed.

The Israeli military said its troops faced around 800 demonstrators along the fortified frontier on Friday and that they had used riot dispersal measures to defend the border.

There were also sporadic clashes in the Israeli-occupied West Bank, where Palestinian youths threw petrol bombs in Hebron, and 150 demonstrators hurled stones at Israeli troops, who fired back with rubber bullets and tear gas.

(Reporting by Nidal al-Mughrabi; Editing by Gareth Jones)

Source: OANN

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Nestle to face lawsuit saying Poland Spring water not from a spring: U.S. judge

FILE PHOTO: The Nestle logo is pictured on the company headquarters entrance building in Vevey
FILE PHOTO: The Nestle logo is pictured on the company headquarters entrance building in Vevey, Switzerland, February 18, 2016. REUTERS/Pierre Albouy/File Photo

March 28, 2019

By Jonathan Stempel

(Reuters) – A federal judge on Thursday rejected Nestle SA’s bid to dismiss a revised lawsuit claiming that it defrauded consumers by filling bottles of its Poland Spring water with ordinary groundwater.

U.S. District Judge Jeffrey Alker Meyer said consumers from eight northeastern states may pursue claims that Nestle Waters North America deceived them into overpaying by labeling Poland Spring as “100% Natural Spring Water.”

The New Haven, Connecticut-based judge allowed claims on behalf of consumers from Connecticut, Maine, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania and Rhode Island. He said federal law preempted claims from Vermont consumers.

Nestle Waters had argued there was “no fraud” because its water met the various state requirements. Meyer had dismissed an earlier version of the lawsuit last May.

“We remain highly confident in our legal position and will continue to defend our Poland Spring brand vigorously against this meritless lawsuit,” a Nestle Waters spokeswoman said in a statement on Thursday. “Poland Spring brand natural spring water is just what it says it is — 100 percent natural spring water.”

Lawyers for the plaintiffs did not immediately respond to requests for comment.

According to the amended complaint, Nestle Waters sells 1 billion gallons of Poland Spring a year in the United States, and “not one drop” of its water “emanates from a water source that qualifies as a genuine legal ‘natural spring.'”

The actual Poland Spring in Maine, which the defendant’s labels said is a source of Poland Spring water, “commercially ran dry” nearly 50 years ago, the complaint said.

In his earlier dismissal, Meyer said the plaintiffs were trying merely to enforce guidelines for spring water under the federal Food, Drug, and Cosmetic Act, and that this preempted their state law claims.

But in Thursday’s decision, he said he was “convinced” the plaintiffs would try to show only that Poland Spring water did not meet the states’ individual spring water standards, though they appeared to “mirror” the federal standard.

The case is Patane v. Nestle Waters North America Inc, U.S. District Court, District of Connecticut, No. 17-01381.

(Reporting by Jonathan Stempel in New York; Editing by Tom Brown)

Source: OANN

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German lawmakers reject far-right deputy speaker candidate

German lawmakers have rejected the far-right Alternative for Germany party's proposed candidate for deputy speaker of parliament for the third time.

It is customary for each party in the Bundestag to have a deputy alongside speaker Wolfgang Schaeuble, a veteran conservative lawmaker.

Alternative for Germany's candidate, Mariana Harder-Kuehnel, received 199 votes in favor and 423 votes against Thursday. She received more than twice the number of votes as the number of lawmakers her party has in parliament.

Harder-Kuehnel has a relatively moderate reputation within the party. Her colleague Albrecht Glaser, who was first nominated by Alternative for Germany in 2017, was rejected after suggesting that freedom of religion shouldn't apply to Islam.

Source: Fox News World

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Deputy killer was half-brother of man who shot Oregon chief

A gunman who authorities say shot and killed a sheriff's deputy in rural Washington state was the half-brother of a man who killed an Oregon police chief eight years ago.

Brian Butts, 33, was shot to death Sunday by law enforcement officers as he emerged wet and dirty from woods following a manhunt. Investigators say Butts killed Cowlitz County Deputy Justin DeRosier on Saturday night.

Butts was the half-brother of Daniel Butts, 29, who pleaded guilty last month to killing Police Chief Ralph Painter in 2011 in Rainier, Oregon, just across the Columbia River from Cowlitz County, The Oregonian/OregonLive reported .

Daniel Butts is serving a life sentence with parole possible after 49 years. He grabbed Painter's sidearm and shot him in the head during a struggle at a car stereo shop.

Daniel Butts' father, Mikel Butts, confirmed the relationship, the news outlet said. He said Daniel and Brian had the same mother. Mikel Butts said he hadn't seen Brian Butts in years.

DeRosier, 29, had been a Cowlitz County deputy since 2009 and was the married father of a 5-month-old daughter. He responded alone Saturday night to a motorhome blocking a road near the tiny southwestern Washington city of Kalama and reported over police radio that someone was shooting at him.

Matthew Veatch, 25, an acquaintance of Brian Butts, was arrested after the shooting for investigation of helping Butts escape. He told investigators he heard a gunshot from his home and that Butts showed up there minutes later, The Daily News of Longview reported , citing a police statement filed in court in support of Veatch's arrest.

Butts "appeared dirty and stated he needed to get out of there," and he gave Veatch a handgun to "get rid of," the statement said. Veatch put the gun in a locked gun cabinet in his room, he told officers, and he led Butts on foot through the dark woods for several hours until they reached an abandoned barn, where they separated.

Along the way, Butts told Veatch he shot an officer, the document said.

The deputy died during surgery at a hospital in Vancouver, across the Columbia River from Portland, Oregon. Veatch is being held on $50,000 bail and is scheduled to be arraigned April 30.

Brian Butts served five years in prison beginning in September 2012 for drug-related convictions, the Washington State Department of Corrections said. He was then on a year of post-prison supervision, ending in October.

Butts also had convictions for assault, burglary and marijuana possession, the Oregonian/OregonLive reported.

An autopsy for was set for Butts Tuesday night. Investigators said he was armed as he emerged from the woods, but they didn't know yet if he shot at officers during the manhunt.

Source: Fox News National

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Powerful Israeli religious parties may prevent needed budget restraint after election

FILE PHOTO: An ultra-Orthodox Jewish man helps kids cast his ballot at a polling station as Israelis vote in a parliamentary election, in Jerusalem
FILE PHOTO: An ultra-Orthodox Jewish man helps kids cast his ballot at a polling station as Israelis vote in a parliamentary election, in Jerusalem April 9, 2019. REUTERS/Ronen Zvulun/File Photo

April 10, 2019

By Steven Scheer and Ari Rabinovitch

JERUSALEM (Reuters) – Ultra-Orthodox Jewish parties did well in Israel’s national election and will likely bring hefty demands for more government payouts to coalition talks, making it harder for Prime Minister Benjamin Netanyahu to rein in a growing budget deficit.

Two religious parties, often political kingmakers in the past, were projected to win a combined 16 of 120 seats in parliament, three more than they have now. Their support is essential for Netanyahu should he opt to form a right-wing coalition, rather than seek a broader unity government with centrist rivals.

Ultra-Orthodox Jews, known as Haredim, make up about 10 percent of Israel’s population and, with their typically large families, that percentage is expected to swell.

They receive state benefits, stipends and military exemptions that allow many to devote time to religious studies rather than joining the workforce.

Just around half of Haredi men are employed, an issue long identified by economists as a drag on Israeli growth. At the same time, more than 70 percent of Haredi women work but their salaries are well below the average of non-Haredi women.

The two parties, United Torah Judaism (UTJ) and Shas, pledge to try to keep or even build on the status quo, disregarding warnings from Israel’s central bank and groups like the International Monetary Fund of a future crisis without change.

“Having stronger power would mean that they would have stronger leverage for obtaining higher stipends for (seminary) students,” said Eitan Regev, an economist at the Israel Democracy Institute.

CUTS PUT MORE HAREDI IN WORK

He noted that when stipends were cut in a short-lived government without Haredi parties after the 2013 election, more men joined the workforce. Allowances were raised again two years later in a new government, halting the rise in numbers of employed Haredi, Regev said.

UTJ co-head Moshe Gafni said Netanyahu had called him since polls closed late on Tuesday to discuss a partnership.

Israel’s budget deficit is rising, forecast to reach nearly 4 percent of gross domestic product this year – well above the 2.9 percent target. Although ratings agencies Fitch and S&P said Israel was not at risk of a downgrade in the near term, austerity measures seem unavoidable.

The Bank of Israel has called for a combination of spending cuts and tax increases to keep the budget from spiraling out of control. After the new government is in place, discussions on the 2020 and possibly a dual 2020-2021 budget will begin.

“It will be very difficult to consolidate the budget,” said Leader Capital Markets chief economist Jonathan Katz, noting much depended on how much pressure Netanyahu will be able to withstand. “The big question is, ‘Will it be a macro story of billions of shekels, or hundreds of millions?'”

In the longer term, the parties could delay the integration of a chunk of the population into the workforce, something the Bank of Israel has singled out as a top economic priority.

A recent study by the central bank found that economic growth would slow if the issue is not addressed.

“Comprehensive and persistent policy in these areas will contribute to increasing the standard of living for all population segments and to reducing inequality in the economy,” it said in its 2018 review.

(Editing by Mark Heinrich)

Source: OANN

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Stock futures tread water after Fed turns more accommodative

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., March 20, 2019. REUTERS/Brendan McDermid

March 21, 2019

By Amy Caren Daniel

(Reuters) – U.S. stock index futures were subdued on Thursday, a day after the Federal Reserve abandoned projections for any interest rate hikes this year amid signs of an economic slowdown.

At the conclusion of its two-day monetary policy meeting on Wednesday, the central bank brought its three-year drive to tighten monetary policy to an abrupt end, and released details of a plan to end the monthly reduction of its balance sheet.

Shares of U.S. lenders, which are sensitive to interest rates, took a hit after the statement.

Citigroup Inc, Bank of America Corp and JPMorgan Chase & Co fell between 0.10 and 0.47 percent in light premarket trading on Thursday.

“The decision by the Fed to go all in on the dovish pivot caught markets off guard, with investors expecting a more cautious and gradual approach from a central bank that typically errs on the more hawkish side,” Craig Erlam, senior market analyst at Oanda in London, wrote in a note.

“Whether this is a sign that policy makers are genuinely concerned about the economy in 2019 or that they’ve finally bowed to external pressure, it’s certainly a bold move.”

A dovish Fed and hopes of a resolution to the ongoing trade war between United States and China have spurred a rally in stocks this year, with the S&P 500 now about 4 percent away from its record closing high in September.

Investors will now keep a close watch on trade talks between the United States and China as U.S. trade delegates travel to Beijing to resume negotiations.

President Donald Trump warned on Wednesday that Washington may leave tariffs on Chinese goods for a “substantial period” to ensure that Beijing complies with any trade agreement.

At 6:37 a.m. ET, Dow e-minis were down 18 points, or 0.07 percent. S&P 500 e-minis were down 0.5 points, or 0.02 percent and Nasdaq 100 e-minis were up 10.5 points, or 0.14 percent.

Among stocks, Micron Technology Inc rose 3.6 percent after the chipmaker said it sees a recovery in the memory chip market coming and reported a quarterly profit that beat estimates.

Boeing Co slipped 0.4 percent after pressure mounted on the world’s largest planemaker in Washington as U.S. lawmakers called for executives to testify about two crashed 737 MAX jets.

Economic data on tap includes initial claims for state unemployment benefits, which are expected to have fallen to 225,000 in the week ended March 16 from 229,000 in the previous week. The data is due at 8:30 a.m. ET.

(Reporting by Amy Caren Daniel and Medha Singh in Bengaluru; Editing by Anil D’Silva)

Source: OANN

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Britain's Chancellor of the Exchequer Philip Hammond looks on during an interview with Reuters at the British Ambassador's residence in Beijing
Britain’s Chancellor of the Exchequer Philip Hammond looks on during an interview with Reuters at the British Ambassador’s residence in Beijing, China April 26, 2019. REUTERS/Florence Lo/Pool

April 26, 2019

BEIJING (Reuters) – British finance minister Philip Hammond said on Friday that he had a “very constructive meeting” with his counterpart in the opposition Labour Party before leaving for Beijing and that he was optimistic about finding common ground.

Hammond, speaking on the sidelines of a summit on China’s Belt and Road initiative in Beijing, said talks with Labour aimed at finding a way forward on Brexit had not stalled.

“I’m optimistic that we will find common ground,” he said. “Both sides have got clear positions and both sides will have to compromise in order to reach an agreement.”

Hammond added that he absolutely did not favor a no deal exit from the European Union.

(Reporting by Ben Blanchard; editing by Darren Schuettler)

Source: OANN

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Police secure the area where the body of a woman was discovered near the village of Orounta
Police secure the area where the body of a woman was discovered near the village of Orounta, Cyprus, April 25, 2019. REUTERS/Stefanos Kouratzis

April 26, 2019

NICOSIA (Reuters) – Cypriot police searched on Friday for more victims of a suspected serial killer, in a case which has shocked the Mediterranean island and exposed the authorities to charges of “criminal indifference” because the dead women were foreigners.

The main opposition party, the left-wing AKEL, called for the resignation of Cyprus’s justice minister and police chief.

Police were combing three different locations west of the capital Nicosia for victims of the suspected killer, a 35-year-old army officer who has been in detention for a week.

The bodies of three women, including two thought to be from the Philippines, have been recovered. Police sources said the suspect had indicated the location of the third body, found on Thursday, and had said the person was “either Indian or Nepali”.

Police said they were searching for a further four people, including two children, based on the suspect’s testimony.

“These women came here to earn a living, to help their families. They lived away from their families. And the earth swallowed them, nobody was interested,” AKEL lawmaker Irene Charalambides told Reuters.

“This killer will be judged by the court but the other big question is the criminal indifference shown by the others when the reports first surfaced. I believe, as does my party, that the justice minister and the police chief should resign. They are irrevocably exposed.”

Police have said they will investigate any perceived shortcomings in their handling of the case.

One person who did attempt to alert the authorities over the disappearances, a 70-year-old Cypriot citizen, said his motives were questioned by police.

The bodies of the two Filipino women reported missing in May and August 2018 were found in an abandoned mine shaft this month. Police discovered the body of the third woman at an army firing range about 14 km (9 miles) from the mine shaft.

Police are now searching for the six-year-old daughter of the first victim found, a Romanian mother who disappeared with her eight-year-old child in 2016, and a woman from the Phillipines who vanished in Dec. 2017.

The suspect has not been publicly named, in line with Cypriot legal practice.

A public vigil for the missing was planned later on Friday.

(Reporting By Michele Kambas; Editing by Gareth Jones)

Source: OANN

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An employee looks up at goods at the Miniclipper Logistics warehouse in Leighton Buzzard
FILE PHOTO: An employee looks up at goods at the Miniclipper Logistics warehouse in Leighton Buzzard, Britain December 3, 2018. REUTERS/Simon Dawson

April 26, 2019

LONDON, April 26 – British factories stockpiled raw materials and goods ahead of Brexit at the fastest pace since records began in the 1950s, and they were increasingly downbeat about their prospects, a survey showed on Friday.

The Confederation of British Industry’s (CBI) quarterly survey of the manufacturing industry showed expectations for export orders in the next three months fell to their lowest level since mid-2009, when Britain was reeling from the global financial crisis.

The record pace of stockpiling recorded by the CBI was mirrored by the closely-watched IHS Markit/CIPS purchasing managers’ index published earlier this month.

(Reporting by Andy Bruce, editing by David Milliken)

Source: OANN

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Malaysian Prime Minister Mahathir Mohamad speaks at the opening ceremony for the second Belt and Road Forum in Beijing
Malaysian Prime Minister Mahathir Mohamad speaks at the opening ceremony for the second Belt and Road Forum in Beijing, China April 26, 2019. REUTERS/Florence Lo

April 26, 2019

KUALA LUMPUR (Reuters) – Fewer than half of Malaysians approve of Prime Minister Mahathir Mohamad, an opinion poll showed on Friday, as concerns over rising costs and racial matters plague his administration nearly a year after taking office.

The survey, conducted in March by independent pollster Merdeka Center, showed that only 46 percent of voters surveyed were satisfied with Mahathir, a sharp drop from the 71 percent approval rating he received in August 2018.

Mahathir’s Pakatan Harapan coalition won a stunning election victory in May 2018, ending the previous government’s more than 60-year rule.

But his administration has since been criticized for failing to deliver on promised reforms and protecting the rights of majority ethnic Malay Muslims.

Of 1,204 survey respondents, 46 percent felt that the “country was headed in the wrong direction”, up from 24 percent in August 2018, the Merdeka Center said in a statement. Just 39 percent said they approved of the ruling government.

High living costs remained the top most concern among Malaysians, with just 40 percent satisfied with the government’s management of the economy, the survey showed.

It also showed mixed responses to Pakatan Harapan’s proposed reforms.

Some 69 percent opposed plans to abolish the death penalty, while respondents were sharply divided over proposals to lower the minimum voting age to 18, or to implement a sugar tax.

“In our opinion, the results appear to indicate a public that favors the status quo, and thus requires a robust and coordinated advocacy efforts in order to garner their acceptance of new measures,” Merdeka Center said.

The survey also found 23 percent of Malaysians were concerned over ethnic and religious matters.

Some groups representing Malays have expressed fear that affirmative-action policies favoring them in business, education and housing could be taken away and criticized the appointments of non-Muslims to key government posts.

Last November, the government reversed its pledge to ratify a UN convention against racial discrimination, after a backlash from Malay groups.

Earlier this month, Pakatan Harapan suffered its third successive loss in local elections since taking power, which has been seen as a further sign of waning public support.

Despite the decline, most Malaysians – 67 percent – agreed that Mahathir’s government should be given more time to fulfill its election promises, Merdeka Center said.

This included a majority of Malay voters who were largely more critical of the new administration, it added.

(Reporting by Rozanna Latiff; Editing by Nick Macfie)

Source: OANN

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The German share price index DAX graph at the stock exchange in Frankfurt
The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, April 25, 2019. REUTERS/Staff

April 26, 2019

By Medha Singh and Agamoni Ghosh

(Reuters) – European shares slipped on Friday after losses in heavyweight banks and Glencore outweighed gains in healthcare and auto stocks, while investors remained on the sidelines ahead of U.S. economic data for the first quarter.

The pan-European STOXX 600 index was down 0.1 percent by 0935 GMT, eyeing a modest loss at the end of a holiday-shortened week. Banks-heavy Italian and Spanish indices were laggards.

The banking index fell for a fourth day, at the end of a heavy earnings week for lenders.

Britain’s Royal Bank of Scotland tumbled after posting lower first quarter profit, hurt by intensifying competition and Brexit uncertainty, while its investment bank also registered poor returns.

Weakness in investment banking also dented Deutsche Bank’s quarterly trading revenue and sent its shares lower a day after the German bank abandoned merger talks with smaller rival Commerzbank.

“The current interest rate environment makes it challenging for banks to make proper earnings because of their intermediary function,” said Teeuwe Mevissen, senior market economist eurozone, at Rabobank.

Since the start of April, all country indexes were on pace to rise between 1.8 percent and 3.4 percent, their fourth month of gains, while Germany was strongly outperforming with 6 percent growth.

“For now the current sentiment is very cautious as markets wait for the first estimates of the U.S. GDP growth which could see a surprise,” Mevissen said.

U.S. economic data for the first-quarter is due at 1230 GMT. Growth worries outside the United States resurfaced this week after South Korea’s economy unexpectedly contracted at the start of the year and weak German business sentiment data for April also disappointed.

Among the biggest drags on the benchmark index in Europe were the basic resources sector and the oil and gas sector, weighed down by Britain’s Glencore and France’s Total, respectively.

Glencore dropped after reports that U.S authorities were investigating whether the company and its subsidiaries violated certain provisions of the commodity exchange act.

Energy major Total said its net profit for the first three months of the year fell compared with a year ago due to volatile oil prices and debt costs.

Chip stocks in the region including Siltronic, Ams and STMicroelectronics lost more than 1 percent after Intel Corp reduced its full-year revenue forecast, adding to concerns that an industry-wide slowdown could persist until the end of 2019.

Meanwhile, healthcare, which is also seen as a defensive sector, was a bright spot. It was helped by French drugmaker Sanofi after it returned to growth with higher profits and revenues for the first-quarter.

Luxembourg-based satellite operator SES led media stocks higher after it maintained its full-year outlook on the back of the company’s Networks division.

Automakers in the region rose 0.4 percent, led by Valeo’s 6 percent jump as the French parts maker said its performance would improve in the second half of the year.

Continental AG advanced after it backed its outlook for the year despite reporting a fall in first-quarter earnings.

Renault rose more than 3 percent as it clung to full-year targets and pursues merger talks with its Japanese partner Nissan.

(Reporting by Medha Singh and Agamoni Ghosh in Bengaluru; Editing by Gareth Jones and Elaine Hardcastle)

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