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Howard Schultz, at Fox News Town Hall: Trump will win re-election if Bernie Sanders gets Democrat nomination

Potential independent 2020 White House contender Howard Schultz took the stage in Kansas City, Missouri for a special “America’s Election HQ” Town Hall Thursday night, and predicted outright that President Trump will win re-election if Democrats nominate a self-described socialist like Bernie Sanders.

The Town Hall, co-hosted by Fox News' Bret Baier and Martha MacCallum, began as Schultz called former Vice President Joe Biden's behavior around women "concerning," but also charged that it was similarly "concerning" that the allegations had suddenly surfaced as he prepares to announce a presidential bid.

Earlier this week, members of Biden's inner circle signaled they were becoming increasingly convinced the Bernie Sanders' campaign was behind at least one of the explosive accusations of physical misconduct recently leveled against the former vice president -- and, in the words of one prominent backer, Biden is now "ready to kill Bernie."

"There's no reason for anyone to believe that these women are not telling the truth, but it's really up to the voters to decide whether Vice President Biden is qualified to run," Schultz said.

WHO IS BILLIONAIRE STARBUCKS MAN HOWARD SCHULTZ?

Asked by Baier if Schultz would ever vote for Biden, Schultz said simply that he would "vote for myself."

Schultz separately denied that he would play a "spoiler" in the race -- and suggested instead that someone like Sanders could unwittingly play that role.

FILE - In this Feb. 7, 2019, file photo, former Starbucks CEO Howard Schultz speaks at Purdue University in West Lafayette, Ind. A Florida woman is suing Schultz after she says she and others on the national do not call list got automated text messages promoting his book tour. Schultz is considering an independent bid for president and launched a tour in January for his latest book, "From the Ground Up." (AP Photo/Michael Conroy, File)

FILE - In this Feb. 7, 2019, file photo, former Starbucks CEO Howard Schultz speaks at Purdue University in West Lafayette, Ind. A Florida woman is suing Schultz after she says she and others on the national do not call list got automated text messages promoting his book tour. Schultz is considering an independent bid for president and launched a tour in January for his latest book, "From the Ground Up." (AP Photo/Michael Conroy, File)

On abortion, Schultz said to applause, "In my view, there should be no abortion that is in the last trimester. Abortion should be safe, legal, and rare."

On immigration, Schultz decried partisanship on the issue, calling the situation a "crisis that can be solved."

"Given what's happening in our southern border ... it's a question of humanity and legal immigration," Schultz said. "I don't know how many people are aware in this audience, but President Bush 43 and Obama, both, while they were president, submitted to Congress an immigration bill. In both cases, the opposition took that bill, rejected it, and would not pass it."

Schultz said those bills, today, would be indistinguishable as Republican or Democrat-sponsored bills, and said they failed simply because of political obstruction.

"That is the problem that existed then, and that is the problem that exists now. I can promise you that Nancy Pelosi will not, under any circumstances, give President Trump a victory on immigration."

"What I saw, in my mind, is a fracturing of American values, and a fracturing of humanity."

Schultz's appearance on Fox News comes weeks after the Democratic National Committee (DNC) excluded the network from hosting a Democrat primary debate. The DNC has since said it has no problems with Sanders appearing on Fox News.

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Schultz similarly bucked Democrats with his decision to attend the annual American Israel Public Affairs Committee (AIPAC) conference in Washington on Monday, which came as Democrats have been grappling with the left's criticism of Israel and as most presidential candidates are sitting this year's conference out.

Prominent Democrats, including Minnesota Rep. Ilhan Omar and Michigan Rep. Rashida Tlaib, have come under fire from several commentators for making purportedly anti-Semitic remarks -- with Omar suffering repeated rebukes from her own party.

On Friday, Schultz responded to a tweet from the liberal advocacy group MoveOn, which has been urging Democratic presidential candidates not to attend. He said that the "unwillingness of the far left to even speak with people they may disagree with is one of the worst symbols of the dysfunction in Washington today."

Source: Fox News Politics

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Clashes among government-aligned forces in Yemen's kill 6

Yemeni officials say heavy street battles among armed Islamist factions aligned with the exiled government have left at least six people dead and families displaced.

They said on Saturday that the clashes, which erupted in Taiz a day earlier, saw a faction financed and armed by the United Arab Emirates and led by Salafi commander Aboul Abbas, confront other factions affiliated with the Muslim Brotherhood group in Yemen — the Islah party — which is loyal to Yemeni president Abed Rabbo Mansour Hadi.

They spoke on condition of anonymity because they were not authorized to brief media.

The violence in Taiz underscores the deep divisions marring allies in Yemen's war which pits the internationally recognized government backed by a Saudi-led coalition against Iran-backed Shiite rebels.

Source: Fox News World

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Kershaw to start Oklahoma City’s opener on rehab stint

FILE PHOTO: MLB: Spring Training-Kansas City Royals at Los Angeles Dodgers
FILE PHOTO: Mar 8, 2019; Phoenix, AZ, USA; Los Angeles Dodgers starting pitcher Clayton Kershaw (22) signs autographs for fans before the game against the Kansas City Royals at Camelback Ranch. Mandatory Credit: Orlando Ramirez-USA TODAY Sports

April 2, 2019

Clayton Kershaw’s run of eight straight Opening Day starts ended due to left shoulder inflammation.

However, the Los Angeles Dodgers ace will have a different type of Opening Day assignment when he makes a rehab start at Oklahoma City on Thursday night.

Kershaw was cleared to make the start after throwing a bullpen session on Monday, and the rehab appearance just happens to be the Triple-A club’s season opener against San Antonio.

Dodgers manager Dave Roberts joked about the irony and told reporters that Kershaw’s streak of Opening Day starts should remain intact.

On a serious note, Los Angeles will see how Kershaw performs on Thursday before deciding the next move. Considering normal rest, the three-time Cy Young winner possibly could make his first major league start of the year on April 9 against the Cardinals in St. Louis.

Kershaw, a 31-year-old left-hander, threw a three-inning simulated game on Saturday without issues.

Roberts also said that left-hander Rich Hill (knee) played catch Monday and will throw off the mound either Tuesday or Wednesday.

–Field Level Media

Source: OANN

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Bolton: Trump would be 'pretty disappointed' at Kim test

The top national security adviser says President Donald Trump would be "pretty disappointed" if North Korea were to launch a new rocket or missile test, as some experts believe he could be preparing to do.

Speaking on ABC's "This Week," John Bolton would not confirm reports based on commercial satellite imagery that North Korea is making moves, saying he'd rather not go into specifics.

But he says the U.S. government is watching North Korea "constantly," and that, "Nothing in the proliferation game surprises me anymore."

He also says Trump would "be pretty disappointed if Kim Jong Un went ahead and did something like that" after he vowed not to at a summit in Vietnam.

The new activity was detected at a North Korean missile research center and long-range rocket site.

Source: Fox News National

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Johnson & Johnson receives federal subpoenas related to baby powder litigation

Bottles of Johnson's baby powder are displayed in a store in New York
Bottles of Johnson's baby powder are displayed in a store in New York City, U.S., January 22, 2019. REUTERS/Brendan McDermid

February 21, 2019

By Chris Kirkham

(Reuters) – Johnson & Johnson said Wednesday it has received subpoenas from the U.S. Justice Department and the Securities and Exchange Commission (SEC) related to litigation involving alleged asbestos contamination in its signature Baby Powder product line.

The company said it intends to “cooperate fully with these inquiries and will continue to defend the Company in the talc-related litigation.”

The disclosure in Johnson & Johnson’s annual report on Wednesday is the first time that the company disclosed it had received subpoenas from federal agencies regarding its talc powder products.

The Justice Department and the SEC did not immediately respond to requests for comment.

A Reuters report on Dec. 14 revealed that Johnson & Johnson knew for decades that small amounts of asbestos, a known carcinogen, had been occasionally found in its talc and powder products, according to tests from the 1970s to the early 2000s – information it did not disclose to regulators or the public. https://www.reuters.com/article/us-johnson-johnson-cancer-special-report/special-report-jj-knew-for-decades-that-asbestos-lurked-in-its-baby-powder-idUSKBN1OD1RQ

The Reuters article prompted a selloff in Johnson & Johnson shares, erasing about $40 billion from the company’s market value in one day, and a public relations crisis as the healthcare conglomerate faced widespread questions about the possible health effects of one of its most iconic products. https://www.reuters.com/article/us-johnson-johnson-cancer-crisis/after-damaging-reuters-report-jj-doubles-down-on-talc-safety-message-idUSKCN1OU16D

Johnson & Johnson said that the federal inquiries “are related to news reports that included inaccurate statements and also withheld crucial information” that had already been made public.

The company added that “decades of independent tests by regulators and the world’s leading labs prove Johnson & Johnson’s baby powder is safe and asbestos-free, and does not cause cancer.”

Johnson & Johnson faces lawsuits involving 13,000 plaintiffs who allege use of its talc products, including Baby Powder, caused cancer.

Last month, U.S. Democratic Senator Patty Murray sent a letter to J&J Chief Executive Alex Gorsky seeking documents and information related to testing of its talc products for the presence of carcinogens and “how it presented that information to regulators and consumers.”

(Reporting by Chris Kirkham; Editing by Neil Fullick)

Source: OANN

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This 2020 Candidate Puts His Money on Universal Income

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America needs a new vision of what it means for humans to work. That is the unique message of entrepreneur Andrew Yang, a man who hopes – against all odds – to ride his vision to the White House. Even in a large presidential primary field – and the 2020 roster of legitimate or semi-legitimate contenders is shaping up as the largest in party history – there are Americans who fill out the qualifying forms every four years, only to be completely ignored and then forgotten.

On paper, Andrew Yang is one of those Democratic presidential candidates. But he’s more entertaining than most -- “The opposite of Donald Trump is an Asian man who likes math,” he quips – and he has interesting things to say about the future. Besides, a political neophyte just so happened to win the last presidential election, so it’s possible Yang’s ideas will take him beyond a mere 15 minutes of fame.

A 44-year-old graduate of Brown and Columbia Law, an entrepreneur and former CEO of Venture for America, Yang shares with many of his better-known Democratic opponents support for universal Medicare, addressing climate change, and a reduction in incarceration. But he has primarily differentiated himself with a more radical proposal: Universal Basic Income (UBI).

“Every member of a society gets a certain amount of money, no questions asked, to meet his or her basic needs,” Yang told RealClearPolitics when asked to define it. His proposal, which he calls the “Freedom Dividend,” would give every American $1,000 a month for life once they turn 18.

In one form or another, basic income has been supported by those across the political spectrum, including Martin Luther King Jr. and libertarian Charles Murray, a scholar at the American Enterprise Institute. Wealthy tech leaders such as Mark Zuckerberg and Stewart Butterfield have also expressed support for some kind of basic income. “It’s not left or right, it’s forward,” said Yang.

He has high expectations for his UBI proposal, to which he ascribes near-miraculous powers. Among other benefits, he predicts that it would create millions of jobs, empower women, reduce domestic violence, improve mental health, and reduce hospital visits. Most significantly, he cites it as the answer to a potentially destabilizing crisis looming on the horizon: the coming automation of an unprecedented number of jobs – a fear that the New York Times dubbed the “robot apocalypse.”

“We’re in the third inning of the greatest economic and technological transformation in the history of our country,” said Yang, who adds that after the deregulation of financial services, and the decimation of manufacturing workers, the third inning is the “phasing out of brick-and-mortar retail.”

Next, he says, comes automated cars and trucks. What will people do when “the trucks start driving themselves in the next five to 10 years”? After that, Yang predicts, artificial intelligence risks putting call center workers, bookkeepers, accountants, and attorneys, among others, out of work.

Not everyone is impressed by Yang’s forecast. According to the Bureau of Labor Statistics, unemployment is at 4 percent, a large decrease since 2009, and the labor participation rate is at 63.2 percent, the highest it has been since 2014. As for future job losses due to technology, “I think it’s overstated,” said Mike Tanner, a senior fellow at the Cato Institute. The idea that “we’re simply not going to have enough jobs in the future – I don’t believe that.”

While Yang estimates on his website that in the next 12 years one in three American workers is at risk of losing his or her job to new technologies, many economists have significantly less worrisome predictions. Researchers at the Organization for Economic Cooperation and Development estimate the risk of job loss at less than 10 percent in the United States. In many cases, according to MIT economist David H. Autor, new technologies do not simply replace jobs, but instead complement work. Technology can also indirectly create new jobs. “The truck driver goes away,” said Tanner, “but somebody is out there programming the automated cars.” 

UBI has advantages over the current welfare system that make it attractive to libertarians and conservatives. The current system involves “huge amounts of complex bureaucracy,” said Tanner. “You could get rid of all that.” Plus, Universal Basic Income is far less paternalistic, he added. Under the current welfare system, people receive support that they can only use for particular kinds of goods. With UBI, recipients would make their own decisions.

But it is unclear whether Yang can muster support from Republicans given that his proposal doesn’t “make any real attempt to get rid of current programs,” said Vijay Menon, a research assistant at the Heritage Foundation. Yang’s version of Universal Basic Income would be layered on top of the current welfare system.

By Yang’s own estimate, his proposal would cost $1.8 trillion annually. Others at the Center on Budget and Policy Priorities estimate that UBI would cost much more — up to $30 trillion to $40 trillion over 10 years. That is more than three-fourths of the entire yearly federal budget. 

The Freedom Dividend would be opt-in, according to Yang, and his cost estimate assumes that a large portion of Americans currently receiving government services simply won’t take basic income – for, under Yang’s proposal, anyone who receives UBI has to give up some other supports, such as food stamps. It will not require an increase in incomes taxes, Yang asserts. Rather, it will be paid for through a new value-added tax on goods and services that businesses produce, new revenues, and cost-savings from other social services.

Another concern is that Universal Basic Income could disincentivize work. Unlike simply getting a check from the government, work gives people dignity, said Menon. “Our policies should be promoting work whenever we can,” he said.

Recent data from Finland, which began a two-year experiment with Universal Basic Income in 2017, seems to support this fear. Findings show that UBI does not have a significant beneficial impact on employment.

But Yang, who believes that soon the vast majority of Americans will be simply unable to work in anything like the current economy, envisions a new mode of working life.   “We have to create an economy that actually does give people paths to structure purpose and fulfillment that may not look like the job of today where they go to an office from 9 to 5.”

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Members of The Cranberries, bassist Mike Hogan, drummer Fergal Lawler and guitarist Noel Hogan speak to Reuters during an interview in London
Members of The Cranberries, bassist Mike Hogan, drummer Fergal Lawler and guitarist Noel Hogan speak to Reuters during an interview in London, Britain, April 24, 2019. REUTERS/Gerhard Mey

April 26, 2019

By Hanna Rantala

LONDON (Reuters) – Irish rockers The Cranberries are saying goodbye with their final album released on Friday, a poignant tribute to lead singer Dolores O’Riordan who died last year.

“In the End” is the eighth studio album from the band that rose to fame in the early 1990s with hits likes “Zombie” and “Linger”, and includes the final recordings by O’Riordan, who drowned in a London hotel bath in January 2018 due to alcohol intoxication.

Work on the album began during a 2017 tour and by that winter, O’Riordan and guitarist Neil Hogan had penned and demoed 11 tracks.

With O’Riordan’s vocals recorded, Hogan, bassist Mike Hogan and drummer Fergal Lawler completed the album in tribute to her.

“When we realized how strong the songs were, that was the deciding factor really… There was no point… trying to ruin the legacy of the band,” Noel Hogan said in an interview.

“It was obvious that Dolores wanted this album done because when you hear the album, you hear the songs and how strong they are, and she was very, very excited to get in and record this.”

The Cranberries formed in Limerick in 1989 with another singer. O’Riordan replaced him a year later and the group went on to become Ireland’s best-selling rock band after U2, selling more than 40 million records.

O’Riordan, known for her strong distinctive voice singing about relationships or political violence, was 46 when she died.

“She was actually in quite a good place mentally. She was feeling quite content and strong and looking forward to a new phase of her life,” Lawler said.

“A lot of the lyrics in this album are about things ending… people might read into it differently but it was a phase of her personal life that she was talking about.”

The group previously announced their intention to split after the release of “In The End”.

“We are absolutely gutted we can’t play (the songs) live because that’s something that’s been a massive part of this band from day one,” Noel Hogan said.

“A few people have said to us about maybe even doing a one off where you have different vocalists… as kind of guests of ours. A year ago that’s definitely something we weren’t going to entertain but I don’t know, I think it’s something we need to go away and take time off for the summer and have a think about.”

Critics have generally given positive reviews of the album; NME described it as “(seeing) the band’s career go full-circle” while the Irish Times called it “an unexpected late career high and a remarkable swan song for O’Riordan”.

Their early songs still play on the radio. This week, “Dreams” was performed at the funeral of journalist Lyra McKee, who was shot dead in Londonderry last week as she watched Irish nationalist youths attack police following a raid.

“We wrote them as kids, as a hobby and 30 years later they are on radio and on TV, like all the time… That’s far more than any of us ever thought we would have,” Noel Hogan said.

“That would make Dolores really happy because she was very precious about those songs. Her babies, she called them and to have that hopefully long after we’re gone… that’s all any band can wish for.”

(Reporting by Hanna Rantala; additoinal reporting by Marie-Louise Gumuchian; Writing by Marie-Louise Gumuchian; Editing by Susan Fenton)

Source: OANN

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2020 Democratic presidential candidate Elizabeth Warren participates in the She the People Presidential Forum in Houston
2020 Democratic presidential candidate Elizabeth Warren participates in the She the People Presidential Forum in Houston, Texas, U.S. April 24, 2019. REUTERS/Loren Elliott

April 26, 2019

By Joshua Schneyer and M.B. Pell

NEW YORK (Reuters) – Senator Elizabeth Warren will introduce a bill Friday that offers new protections for U.S. military families facing unsafe housing, following a series of Reuters reports revealing squalid conditions in privately managed base homes.

The Reuters reports and later Congressional hearings detailed widespread hazards including lead paint exposure, vermin infestations, collapsing ceilings, mold and maintenance lapses in privatized base housing communities that serve some 700,000 U.S. military family members.

(View Warren’s military housing bill here. https://tmsnrt.rs/2Dy5aht)

(Read Reuters’ Ambushed at Home series on military housing here. https://www.reuters.com/investigates/section/usa-military)

The Massachusetts Democrat’s bill would mandate both regular and unannounced spot inspections of base homes by certified, independent inspectors, holding landlords accountable for quickly fixing hazards. The military’s privatization program for years allowed real estate firms to operate base housing with scant oversight, Reuters found, leaving some tenants in unsafe homes with little recourse against landlords.

The bill would also require the Department of Defense and its private housing operators to publish reports annually detailing housing conditions, tenant complaints, maintenance response times and the financial incentives companies receive at each base. The provisions aim to enhance transparency of housing deals whose finances and operations the military had allowed to remain largely confidential under a privatization program since the late 1990s.

The measure would also require private landlords to cover moving costs for at-risk families, and healthcare costs for people with medical conditions resulting from unsafe base housing, ensuring they receive continuing coverage even after they leave the homes or the military.

“This bill will eliminate the kind of corner-cutting and neglect the Defense Department should never have let these private housing partners get away with in the first place,” Warren said in a statement Friday.

The proposed legislation comes after February Senate hearings where Warren, a member of the Senate Armed Services Committee who is seeking the Democratic nomination for the 2020 U.S. presidential election, slammed private real estate firms for endangering service families, and sought answers about why military branches weren’t providing more oversight.

Her legislation would direct the Defense Department to allow local housing code enforcers onto federal bases, following concerns they were sometimes denied access. Warren’s office said a companion bill in the House of Representatives would be introduced by Rep. Deb Haaland, Democrat of New Mexico.

In response to the housing crisis, military branches are developing a tenant bill of rights and hiring hundreds of new housing staff. The branches recently dispatched commanders to survey base housing worldwide for safety hazards, resulting in thousands of work orders and hundreds of tenants being moved. The Defense Department has pledged to renegotiate its 50-year contracts with private real estate firms.

Congress has been quick to take its own measures. Earlier legislation proposed by senators Dianne Feinstein and Kamala Harris of California, along with Mark Warner and Tim Kaine of Virginia, would compel base commanders to withhold rent payments and incentive fees from the private ventures if they allow home hazards to persist.

(Editing by Ronnie Greene)

Source: OANN

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FILE PHOTO: Offices of Deloitte are seen in London
FILE PHOTO: Offices of Deloitte are seen in London, Britain, September 25, 2017. REUTERS/Hannah McKay/File Photo

April 26, 2019

By Noor Zainab Hussain and Tanishaa Nadkar

(Reuters) – Deloitte quit as Ferrexpo’s auditor on Friday, knocking its shares by more than 20 percent, days after saying it was unable to conclude whether the iron ore miner’s CEO controlled a charity being investigated over its use of company donations.

Blooming Land, which coordinates Ferrexpo’s Corporate Social Responsibility (CSR) program, came under scrutiny after auditors found holes in the charity’s statements.

Ferrexpo on Tuesday said findings of an ongoing independent investigation launched in February indicated some Blooming Land funds could have been “misappropriated”. It did not provide any details or publish its findings.

Shares in Ferrexpo, the third largest exporter of pellets to the global steel industry, were 23.4 percent lower at 206.1 pence at 1022 GMT following news of Deloitte’s resignation.

“Ferrexpo’s shares are deeply discounted vs peers … following the resignation of Deloitte, we expect downside risks to dominate Ferrexpo’s shares near term.” JP Morgan analyst Dominic O’Kane said in a note on Friday.

Swiss-headquartered Ferrexpo did not provide a reason for the resignation of Deloitte, which declined to comment, while Blooming Land did not respond to a request for comment.

Funding for Blooming Land’s CSR activities is provided by one of Ferrexpo’s units in Ukraine and Khimreaktiv LLC, an entity ultimately controlled by Ferrexpo’s CEO and majority owner Kostyantin Zhevago, Ferrexpo said on Tuesday.

Ferrexpo’s board has found that Zhevago did not have significant influence or control over the charity, but Deloitte said it was unable reach a conclusion on this.

Reuters was not immediately able to contact Zhevago.

In a qualified opinion, a statement addressing an incomplete audit, Deloitte said it had been unable to conclude whether $33.5 million of CSR donations to Blooming Land between 2017 and 2018 was used for “legitimate business payments for charitable purposes”.

Deloitte said on Tuesday that total CSR payments made to Blooming Land by Ferrexpo since 2013 total about $110 million.

Ferrexpo, whose major mines are in Ukraine, has said that the investigation was ongoing and new evidence pointed to potential discrepancies.

Zhevago, 45, who ranked 1,511 on Forbes magazine’s list of billionaires for 2019 with a net worth of $1.4 billion, owns the FC Vorskla soccer club and has been a member of Ukraine’s parliament since 1998.

(Reporting by Noor Zainab Hussain and Tanishaa Nadkar in Bengaluru and additional reporting by Pavel Polityuk in Kiev; editing by Gopakumar Warrier, Bernard Orr)

Source: OANN

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Children walk past a damaged building in the aftermath of the Cyclone Kenneth in Pemba
Children walk past a damaged building in the aftermath of the Cyclone Kenneth in Pemba, Mozambique April 26, 2019 in this still image obtained from social media. SolidarMed via REUTERS ATTENTION EDITORS – THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY. MANDATORY CREDIT. NO RESALES. NO ARCHIVES

April 26, 2019

By Emma Rumney and Stephen Eisenhammer

JOHANNESBURG/LUANDA (Reuters) – Cyclone Kenneth killed at least one person and left a trail of destruction in northern Mozambique, destroying houses, ripping up trees and knocking out power, authorities said on Friday.

The cyclone brought storm surges and wind gusts of up to 280 km per hour (174 mph) when it made landfall on Thursday evening, after killing three people in the island nation of Comoros.

It was the most powerful storm on record to hit Mozambique’s northern coast and came just six weeks after Cyclone Idai battered the impoverished nation, causing devastating floods and killing more than 1,000 people across a swathe of southern Africa.

The World Food Programme warned that Kenneth could dump as much as 600 millimeters of rain on the region over the next 10 days – twice that brought by Cyclone Idai.

One woman in the port town of Pemba died after being hit by a falling tree, the Emergency Operations Committee for Cabo Delgado (COE) said in a statement, while another person was injured.

In rural areas outside Pemba, many homes are made of mud. In the main town on the island of Ibo, 90 percent of the houses were destroyed, officials said. Around 15,000 people were out in the open or in “overcrowded” shelters and there was a need for tents, food and water, they said.

There were also reports of a large number of homes and some infrastructure destroyed in Macomia district, a mainland district adjacent to Ibo.

A local group, the Friends of Pemba Association, had earlier reported that they could not reach people in Muidumbe, a district further inland.

Mark Lowcock, United Nations under-secretary-general for humanitarian affairs, warned the storm could require another major humanitarian operation in Mozambique.

“Cyclone Kenneth marks the first time two cyclones have made landfall in Mozambique during the same season, further stressing the government’s limited resources,” he said in a statement.

FLOOD WARNINGS

Shaquila Alberto, owner of the beach-front Messano Flower Lodge in Macomia, said there were many fallen trees there, and in rural areas people’s homes had been damaged. Some areas of nearby Pemba had no power.

“Even my workers, they said the roof and all the things fell down,” she said by phone.

Further south, in Pemba, Elton Ernesto, a receptionist at Raphael’s Hotel, said there were fallen trees but not too much damage. The hotel had power and water, he said, while phones rang in the background. “The rain has stopped,” he added.

However Michael Charles, an official for the International Federation of the Red Cross and Red Crescent Societies (IFRC), said heavy rains over the next few days were likely to bring a “second wave of destruction” in the form of flooding.

“The houses are not all solid, and the topography is very sandy,” Charles said.

In the days after Cyclone Idai, heavy inland rains prompted rivers to burst their banks, submerging entire villages, cutting areas off from aid and ruining crops. There were concerns the same could happen again in northern Mozambique.

Before Kenneth hit, the government and aid workers moved around 30,000 people to safer buildings such as schools, however authorities said that around 680,000 people were in the path of the storm.

(Reporting by Emma Rumney and Stephen Eisenhammer; Writing by Emma Rumney; Editing by Janet Lawrence and Alexandra Zavis)

Source: OANN

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A worker holds a nozzle to pump petrol into a vehicle at a fuel station in Mumbai
FILE PHOTO: A worker holds a nozzle to pump petrol into a vehicle at a fuel station in Mumbai, India, May 21, 2018. REUTERS/Francis Mascarenhas

April 26, 2019

By Manoj Kumar and Nidhi Verma

NEW DELHI (Reuters) – Surging global oil prices will pose a first big challenge to India’s new government, whoever wins an election now under way, especially as domestic prices have been allowed to lag, meaning consumers are in for a painful surge as they catch up.

For oil-import dependent India, higher global prices could lead to a weaker rupee, higher inflation, the ruling out of interest rate cuts and could further weigh on twin current account and budget deficits, economists warned.

But compounding the future pain, state-run fuel suppliers and retailers have held off passing on to consumers the higher prices during a staggered general election, which began on April 11 and ends on May 23, according to sources familiar with the situation.

That delay is expected to be unwound once the election is over. And there could be additional price increases to make up for losses or profits missed during the period of delayed increases, the sources said.

In some major Asian countries, such as Japan and South Korea, pump prices are adjusted periodically so they move largely in tandem with international crude prices.

That was what was supposed to happen in India but the election means there have been many days when pump prices have been unchanged.

In New Delhi, for example, while crude oil prices have gone up by nearly $9 a barrel, or about 12 percent, in the past six weeks, gasoline prices have only risen by 0.47 rupees a liter, or 0.6 percent.

State-controlled fuel suppliers and retailers declined to say why they had delayed price increases, or discuss whether there has been any pressure from the government of Prime Minister Narendra Modi.

A government spokesman declined to comment.

The opposition Congress party said Modi’s government was violating its own policy of daily price revision by advising the state oil companies to hold prices steady.

“The government should cut fuel taxes otherwise consumers will have to pay much higher oil prices once the elections are over,” said Akhilesh Pratap Singh, a senior leader of the Congress party.

(GRAPHIC: India Polls: Fuel price hike lags crude surge – https://tmsnrt.rs/2XLlxik)

Nitin Goyal, treasurer at the All India Petroleum Dealers Association, representing fuel stations in 25 states, said prices were similarly held down for 19 days in the southern state of Karnataka last year, when it held state assembly elections.

Only for them to surge after the vote.

“Consumers should be ready for a rude shock of a massive jump in retail prices, similar to the level we have seen in the Karnataka state election,” Goyal said.

‘CREDIT NEGATIVE’

Sri Paravaikkarasu, director for Asia oil at Singapore-based consultancy FGE, said retail prices of gasoline and gasoil prices would have been up to 6 percent, or about 4 rupee, higher if they had been allowed to rise in line with global prices.

“Indian pump prices have failed to keep up with the recent uptrend in crude prices,” Paravaikkarasu said.

“With the country’s general elections underway, the incumbent government has been keeping pump prices relatively unchanged.”

India had switched to a daily price revision in June 2017 from a revision every two weeks, as the government allowed retailers to set prices.

But the government faced protests last October when retailers raised prices by up to 10 rupees a liter after the crude oil price went above $80 a barrel, forcing it to cut fuel taxes.

Global prices rose to their highest level in 2019 on Thursday, days after the United States announced all Iran sanction waivers would end by May, pressuring importers including India to stop buying Tehran’s oil. [O/R]

Higher oil prices will mean Asia’s third largest economy is likely to see growth of less than 7 percent rate this fiscal year, economists said. Growth slowed to 6.6 percent in the October-December quarter, the slowest in five quarters.

Rating agency CARE has warned that a 10 percent rise in global oil prices could increase demand for dollars, putting pressure on the rupee and widening the current account deficit.

India’s oil import bill rose by nearly one-third in the fiscal year ending March 31 to $140.5 billion, against $108 billion the previous year.

“The increase in international oil prices is a credit negative for the Indian economy,” ICRA, the Indian arm of the Fitch rating agency, said in a note.

“Every $10/ bbl increase in crude oil prices increases the fiscal deficit by about 0.1 percent of GDP.”

Any big price rise would also build a case for the central bank to keep rates steady, or even raise them.

The Reserve Bank of India’s Monetary Policy Committee, which cut the benchmark policy repo rate by 25 basis points this month, warned that rising oil and food prices could push up inflation.

Policymakers are worried that a sustained increase in the oil price in the range of $70-75/barrel or higher can move the rupee down by 3-4 percent on an annual basis.

The rupee has depreciated by 1.24 percent against the dollar since a year high in mid-March.

($1 = 70.1800 Indian rupees)

(Reporting by Manoj Kumar and Nidhi Verma; Editing by Martin Howell and Rob Birsel)

Source: OANN

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